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Stock Market & Financial Investment News

News Breaks
July 10, 2014
10:05 EDTUNH, TROW, MAA, INGR, FSM, WASH, TSCO, STBA, LL, HCLP, EGO, WDR, TAHO, NTI, ISBC, GGB, CBB, AUQOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AuRico Gold (AUQ) downgraded to Hold from Buy at Canaccord... Cincinnati Bell (CBB) downgraded to Underperform from Neutral at BofA/Merrill... Eldorado Gold (EGO) downgraded to Hold from Buy at Canaccord... Fortuna Silver Mines (FSM) downgraded to Hold from Buy at Canaccord... Gerdau (GGB) downgraded to Neutral from Overweight at JPMorgan... Hi-Crush Partners (HCLP) downgraded to Neutral from Buy at Ladenburg... Ingredion (INGR) downgraded to Equal Weight from Overweight at Stephens... Investors Bancorp (ISBC) downgraded to Neutral from Buy at Guggenheim... Lumber Liquidators (LL) downgraded to Hold from Buy at Jefferies... Mid-America Apartment (MAA) downgraded to Underweight at Morgan Stanley... Northern Tier (NTI) downgraded to Neutral from Outperform at Macquarie... S&T Bancorp (STBA) downgraded to Neutral from Buy at Guggenheim... T. Rowe Price (TROW) downgraded to Equal-Weight from Overweight at Evercore... Tahoe Resources (TAHO) downgraded to Hold from Buy at Canaccord... Tractor Supply (TSCO) downgraded to Market Perform from Outperform at William Blair... UnitedHealth (UNH) downgraded to Hold from Buy at Jefferies... Waddell & Reed (WDR) downgraded to Neutral from Buy at Citigroup... Washington Trust Bancorp (WASH) downgraded to Neutral from Buy at Guggenheim.
News For AUQ;CBB;EGO;FSM;GGB;HCLP;INGR;ISBC;LL;MAA;NTI;STBA;TROW;TAHO;TSCO;UNH;WDR;WASH From The Last 14 Days
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April 15, 2015
10:46 EDTGGBBofA/Merrill metals/mining/steel analysts hold analyst/industry conference call
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10:20 EDTLLLawsuit: Lumber Liquidators' test kits 'unreliable,' Green Building Advisor says
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10:00 EDTHCLPOn The Fly: Analyst Downgrade Summary
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08:59 EDTHCLPFracking sand miners downgraded at Baird
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06:55 EDTHCLPHi-Crush Partners downgraded to Neutral from Outperform at Baird
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April 14, 2015
18:01 EDTTAHOTahoe Resources to appeal confinement of employees by lower court in Guatemala
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07:08 EDTAUQDenver Gold Group to hold a forum
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06:10 EDTLLStocks with implied volatility below IV index mean; LL ACN
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April 13, 2015
13:26 EDTAUQOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
10:58 EDTUNHCigna, Humana seen as potential takeover targets in Managed Care space
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10:00 EDTUNHOn The Fly: Analyst Upgrade Summary
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08:05 EDTTAHOTahoe Resources sees 2015 gold production 160-170 kozs through 3 quarters
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07:33 EDTUNHJefferies sees low probability of WellCare, Centene buyouts
After running several acquisition scenarios for the Managed Care space, Jefferies says potential takeovers of WellCare (WCG) and Centene (CNC) are "hard to justify." The firm estimates acquirers will only be able to generate 1%-3% accretion from buying either company at a 20% premium to current share prices. The deal that makes the most financial sense is Aetna (AET) buying Cigna (CI), Jefferies says today in a note to investors. Also financially attractive would be a buyout of Humana (HUM) by either Anthem (ANTM) or Aetna, the firm adds. After analyzing the Managed Care space, it upgraded this morning shares of UnitedHealth (UNH) to Buy from Hold with a $141 price target. Jefferies also has Buy ratings on Aetna, Anthem, Health Net (HNT) and Molina Healthcare (MOH).
07:11 EDTFSMFortuna Silver Mines reports Q1 silver production 1.6M oz
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07:03 EDTUNHUnitedHealth upgraded to Buy from Hold at Jefferies
Jefferies upgraded UnitedHealth to Buy saying the company's outlook continues to improve. It believes headwinds are turning to tailwinds in UNH's Medicare Advantage business and raised its price target for shares to $141 from $106.
06:54 EDTLLPiper calls Bull vs. Bear lunch on Lumber Liquidators a draw
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06:34 EDTAUQAlamos Gold and AuRico Gold agree to combine companies
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06:32 EDTAUQAlamos Gold, AuRico Gold to combine in transaction valued at about $1.5B
Alamos Gold (AGI) and AuRico Gold (AUQ) are pleased to announce that they have entered into a definitive agreement to combine their respective companies by way of a plan of arrangement, creating a new, leading intermediate gold producer. The transaction is structured as a merger of equals with a transaction equity value of approximately $1.5B. Under the terms of the Merger, holders of Alamos shares will receive, for each share held, 1 MergeCo share and $0.0001 in cash, and holders of AuRico shares will receive, for each share held, 0.5046 MergeCo shares. Upon completion of the Merger, former Alamos and AuRico shareholders will each own approximately 50% of MergeCo, named Alamos Gold. In addition, a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project, a 1.5% net smelter return royalty on the Young-Davidson mine, AuRico's Fosterville and Stawell royalties, and will be capitalized with $20M of cash. Upon completion of the Merger, MergeCo will own a 4.9% equity interest in SpinCo. The remaining shares of SpinCo will be distributed 50% each to former Alamos and AuRico shareholders. The merger is subject to shareholder and other applicable regulatory approvals and satisfaction of other customary conditions. The merger is expected to close in Q2.
06:30 EDTAUQAlamos Gold, AuRico Gold to combine in transaction valued at about $1.5B
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06:01 EDTLLStocks with implied volatility below IV index mean; LL SNDK
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