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Stock Market & Financial Investment News

News Breaks
July 30, 2014
10:00 EDTSEIC, PRU, UAL, STBA, OSK, YRCW, TWTR, RRTS, INVN, WIN, ICPT, IBTX, FSL, FNGN, CHRW, FNFV, DSX, RESI, AUOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Buy from Sell at Citigroup... Altisource Residential (RESI) upgraded to Outperform at Keefe Bruyette... C.H. Robinson (CHRW) upgraded to Neutral from Underperform at BofA/Merrill... Diana Shipping (DSX) upgraded to Buy from Hold at Stifel... Fidelity National Financial Ventures (FNFV) upgraded to Overweight from Equal Weight at Stephens... Financial Engines (FNGN) upgraded to Market Perform from Underperform at Raymond James... Freescale (FSL) upgraded to Equal Weight from Underweight at Morgan Stanley... Independent Bank (IBTX) upgraded to Outperform from Neutral at Macquarie... Intercept (ICPT) upgraded at Nomura... Internap (INAP) upgraded to Outperform from Market Perform at Cowen... InvenSense (INVN) upgraded to Buy from Hold at Ascendiant... Oshkosh (OSK) upgraded to Outperform from Neutral at RW Baird... Prudential (PRU) upgraded to Buy from Hold at Canaccord... Roadrunner (RRTS) upgraded to Outperform from Market Perform at Raymond James... S&T Bancorp (STBA) upgraded to Neutral from Sell at Guggenheim... SEI Investments (SEIC) upgraded at Oppenheimer... Twitter (TWTR) upgraded to Neutral from Sell at UBS... United Continental (UAL) upgraded to Overweight from Neutral at JPMorgan... Windstream (WIN) upgraded to Buy from Neutral at DA Davidson... YRC Worldwide (YRCW) upgraded to Market Perform from Underperform at Raymond James.
News For AUO;RESI;CHRW;DSX;FNFV;FNGN;FSL;IBTX;ICPT;INVN;OSK;PRU;RRTS;STBA;SEIC;TWTR;UAL;WIN;YRCW From The Last 14 Days
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January 15, 2015
06:28 EDTAUOAUO to be main supplier of Full HD panels for Meizu smartphone, DigiTimes says
AU Optronics will act as the main provider of 5.5-inch Full HD panels to Meizu for its m1 Note smartphone, reports DigiTimes. According to industry sources, Meizu aims to ship 20M smartphones in 2015. Reference Link
January 14, 2015
16:00 EDTTWTROptions Update; January 14, 2015
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09:15 EDTDSXDiana Shipping announces time charter for m/v Santa Barbara with RWE
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09:03 EDTSTBAS&T Bancorp expands into western New York
S&T Bank announced its expansion into western New York with the opening of a new loan production office located on 242 West Main Street.
January 13, 2015
16:24 EDTPRUOn The Fly: Closing Wrap
The Wall Street averages spent time in both positive and negative territory during the session, before closing a bit below where they'd started the day. The market opened sharply higher after Alcoa’s (AA) better than expected report gave some optimism about the upcoming earnings season. The early move higher came despite oil continuing its slide. The major averages saw their highs shortly after the open and then began to drift slowly lower. By mid-afternoon the market was in the red, though the equity averages eventually made it briefly back into positive ground, but failed to hold those narrow gains into the close. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index for December came in at 100.4, which was stronger than the expected 98.5 reading. The JOLTS report showed job openings increased 142K to 4.972M in November, beating the 4.85M consensus forecast. Treasury posted a $1.9B surplus in December, which was a bit below the expected surplus of $3B. Also of note is the fact that the U.S. and European benchmarks of WTI and Brent crude were at parity for the first time since 2013 during the session, with both trading near $46 per barrel for a time. COMPANY NEWS: KB Home (KBH) reported better than expected revenue and higher orders in its fourth quarter, but the stock declined $2.70, or 16.29%, to $13.87 after CEO Jeffrey Mezger warned on the associated earnings call that margins could drop "significantly" in its current quarter from the levels seen last year. KB's margin outlook, which it blamed on rising costs, heavier use of incentives and a sequential decline in average selling prices, dragged down peers in the housing space as well. D.R. Horton (DHI), the biggest homebuilder by market cap, finished the day down $1.26, or 4.83%, to $24.82, while PulteGroup (PHM) also slid $56c, or 2.47%, to $22.13... MetLife (MET) said it will sue to oppose the U.S. Financial Stability Oversight Council’s designation of the insurer as a SIFI, or "systemically important financial institution." The life insurer called the label premature and said it has offered “substantial and compelling evidence” that it isn’t a SIFI. Wells Fargo said it thinks it is appropriate for MetLife to challenge the ruling, though the firm does not presently see a Dodd-Frank provision that enables an entity to shed its designation. Wells added that a MetLife victory would have no impact on either AIG (AIG) or Prudential (PRU), which did not challenge their SIFI designations before their windows closed. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which rose $1.21, or 20.86%, to $7.01 after the company issued better than expected guidance on its second quarter results. Also higher was McGraw Hill Financial (MHFI), which jumped $5.13, or 5.98%, to $90.89 after reports said the company's Standard & Poor’s rating unit was in talks about a potential $1B settlement to its fight with the Justice Department and state attorneys general over allegations of inflating credit ratings on mortgage investments preceding the financial crisis. Among the noteworthy losers was ChannelAdvisor (ECOM), which plunged $11.32, or 53.52%, to $9.83 after its fourth quarter revenue warning prompted no less than eight downgrades of the stock by Street analysts. Also lower were shares of Ocwen Financial (OCN), which dropped $4.41, or 36.18%, to $7.78 after the Los Angeles Times reported that California is seeking to suspend the company's mortgage license in the state. Altisource Portfolio Solutions (ASPS), which is a related company to Ocwen, also declined $10.45, or 38.79%, to $16.49. Shares of GoPro (GPRO) fell $6.91, or 12.17%, to $49.87 after the Patently Apple blog reported that Apple (AAPL) was granted a patent for a camera system that specifically mentions the weaknesses of GoPro devices. INDEXES: The Dow fell 27.16, or 0.15%, to 17,613.68, the Nasdaq lost 3.21, or 0.07%, to 4,661.50, and the S&P 500 dropped 5.23, or 0.26%, to 2,023.03.
16:00 EDTTWTROptions Update; January 13, 2015
iPath S&P 500 VIX Short-Term Futures up 66c to 34.42. Option volume leaders: AAPL JNJ CELG WFM TSLA TWTR AMZN GILD according to Track Data.
13:12 EDTTWTRTwitter February volatility elevated at 63
Twitter January call option implied volatility is at 49, January weekly is at 48, February is at 63; compared to its 26-week average of 54 according to Track Data, suggesting large near term price movement.
10:46 EDTPRUMetLife has only upside in challenging SIFI designation, says Wells Fargo
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07:13 EDTPRUMetLife CEO could decide soon whether to file suit against U.S., WSJ reports
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January 12, 2015
16:00 EDTTWTROptions Update; January 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.57 to 33.54. Option volume leaders: AAPL TSLA TWTR AMZN AA SIRI RIG FRO C according to Track Data.
15:43 EDTTWTRTwitter in talks to acquire ZipDial of India, TechCrunch reports
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10:31 EDTRRTSRoadrunner may be worth $27-$30/share in outright sale, says William Blair
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10:00 EDTCHRW, WINOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Agnico-Eagle (AEM) upgraded at BMO Capital... Aimco (AIV) upgraded to Outperform from Market Perform at Wells Fargo... Alaska Air (ALK) upgraded at Evercore ISI... Alcoa (AA) upgraded to Buy from Neutral at Nomura... Alon USA Energy (ALJ) upgraded to Neutral from Sell at Goldman... AvalonBay (AVB) upgraded to Buy from Hold at Jefferies... BASF (BASFY) upgraded to Buy from Neutral at Citigroup... C.H. Robinson (CHRW) upgraded to Overweight from Equal Weight at Barclays... CBS (CBS) upgraded to Outperform at Cowen... Chesapeake (CHK) upgraded to Buy from Neutral at Goldman... China Mobile (CHL) upgraded to Buy from Hold at Jefferies... Chunghwa Telecom (CHT) upgraded to Neutral from Underweight at ... D.R. Horton (DHI) upgraded at KeyBanc... Daimler AG (DDAIF) upgraded to Neutral from Underperform at BofA/Merrill... Diamond Resorts (DRII) upgraded to Buy from Neutral at Goldman... FMC Corporation (FMC) upgraded to Buy from Neutral at BofA/Merrill... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... Frontier Communications (FTR) upgraded at BofA/Merrill... HomeAway (AWAY) upgraded to Outperform from Neutral at Macquarie... Ingersoll-Rand (IR) upgraded at Morgan Stanley... KB Home (KBH) upgraded to Outperform from Market Perform at Raymond James... Knight Transportation (KNX) upgraded to Overweight from Equal Weight at Barclays... LabCorp (LH) upgraded to Outperform at RW Baird... M.D.C. Holdings (MDC) upgraded to Outperform from Market Perform at Raymond James... Mid-America Apartment (MAA) upgraded to Buy from Hold at Jefferies... PACCAR (PCAR) upgraded at RBC Capital... Parsley Energy (PE) upgraded to Neutral from Sell at Goldman... Peugeot (PUGOY) upgraded to Buy from Underperform at BofA/Merrill... Radware (RDWR) upgraded to Buy from Neutral at Buckingham... Rush Enterprises (RUSHA) upgraded at BB&T... Ryland Group (RYL) upgraded to Outperform from Market Perform at Raymond James... SL Green Realty (SLG) upgraded to Buy from Hold at Jefferies... Solera (SLH) upgraded to Buy from Neutral at Goldman... Standard Pacific (SPF) upgraded to Neutral from Underweight at JPMorgan... Statoil (STO) upgraded to Neutral from Sell at Goldman... Syngenta (SYT) upgraded to Buy from Hold at Miller Tabak... VMware (VMW) upgraded to Positive from Mixed at OTR Global... Vale (VALE) upgraded to Outperform from Sector Perform at Scotia Capital... Volvo (VOLVY) upgraded to Neutral from Underperform at BofA/Merrill... Windstream (WIN) upgraded at BofA/Merrill... lululemon (LULU) upgraded to Neutral from Underperform at Sterne Agee.
09:34 EDTTWTRActive equity options trading
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08:43 EDTDSXDiana Shipping announces delivery of m/v Santa Barbara
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08:13 EDTICPTIntercept plans to initiate PSC Program Biliary Atresia Phase in 2H15
Intercept provided a clinical update on obeticholic acid, or OCA, a novel bile acid analog and first-in-class agonist of the farnesoid X receptor, or FXR, as well as planned 2015 milestones and other general business updates. OCA is currently being developed for the treatment of several chronic liver diseases, including primary biliary cirrhosis, or PBC, nonalcoholic steatohepatitis, or NASH, and primary sclerosing cholangitis, or PSC. The completion of PBC Program NDA and MAA filings planned in 1H15. The NASH Program Phase 3 program initiation planned in 1H15 and Japan Phase 2 trial data expected at the end of 2015. The PSC Program Biliary Atresia: Phase 2 initiation planned in 2H15 and INT-767: Phase 1 initiation planned for the end of 2015. Intercept ended 2014 with approximately $240M in cash and investments. For FY15, the company projects adjusted operating expenses in the range of $180M-$200M, which excludes stock-based compensation and other non-cash items. These expenses will support the clinical development program for OCA in PBC, NASH and PSC, expansion of our clinical, regulatory, medical affairs and commercial infrastructure in the United States and Europe, expansion of OCA manufacturing activities, as well as advancement of INT-767 and other preclinical pipeline programs. Adjusted operating expense, as presented above, is a non-GAAP financial measure. The company anticipates that stock-based compensation expense will represent the most significant non-cash item that is excluded in adjusted operating expenses as compared to operating expenses under GAAP.
07:27 EDTWINWindstream upgraded at BofA/Merrill
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06:15 EDTINVNInvenSense implied volatility of 103 at upper end of index mean range
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06:13 EDTCHRWC.H. Robinson upgraded to Overweight from Equal Weight at Barclays
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06:01 EDTWINWindstream upgraded to Buy from Neutral at BofA/Merrill
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