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Stock Market & Financial Investment News

News Breaks
June 24, 2014
10:00 EDTPPC, MCRS, GRC, ENTA, CTRP, CP, WWWW, NFX, ICE, ITG, DPS, COV, COG, TSCDY, NNN, TEG, GTIV, DG, CLS, AVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Aviva (AV) downgraded to Neutral from Buy at UBS... Cabot Oil & Gas (COG) downgraded at Morgan Stanley... Canadian Pacific (CP) downgraded to Neutral from Buy at Buckingham... Celestica (CLS) downgraded to Market Perform from Outperform at Raymond James... Covidien (COV) downgraded to Market Perform from Outperform at Leerink... Ctrip.com (CTRP) downgraded to Hold from Buy at Stifel... Dollar General (DG) downgraded to Buy from Conviction Buy at Goldman... Dr Pepper Snapple (DPS) downgraded to Neutral from Buy at Citigroup... Enanta (ENTA) downgraded to Neutral from Outperform at RW Baird... Gentiva Health (GTIV) downgraded to Fair Value from Buy at CRT Capital... Gorman-Rupp (GRC) downgraded to Neutral from Buy at Sidoti... ITG (ITG) downgraded to Neutral from Overweight at JPMorgan... Integrys Energy (TEG) downgraded to Neutral from Outperform at RW Baird... IntercontinentalExchange (ICE) downgraded to Market Perform at Wells Fargo... MICROS (MCRS) downgraded to Neutral from Outperform at Wedbush... National Retail Properties (NNN) downgraded to Neutral from Buy at BofA/Merrill... Newfield Exploration (NFX) downgraded to Hold from Accumulate at KLR Group... Pilgrim's Pride (PPC) downgraded to Equal Weight from Overweight at Stephens... Tesco (TSCDY) downgraded to Neutral from Outperform at Exane BNP Paribas... Web.com (WWWW) downgraded to Neutral from Buy at B. Riley.
News For AV;COG;CP;CLS;COV;CTRP;DG;DPS;ENTA;GTIV;ITG;GRC;TEG;ICE;MCRS;NNN;NFX;PPC;TSCDY;WWWW From The Last 14 Days
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December 8, 2014
11:41 EDTICEIntercontinentalExchange to sell remaining shares in Euronext
Intercontinental Exchange announced its intention to sell approximately 4.2M shares in Euronext N.V., representing approximately 6% of Euronextís share capital, by way of an accelerated book-building to institutional investors. Following the sale, assuming all shares are sold, ICE will no longer hold any of Euronextís share capital and voting rights. This transaction marks the final exit from Euronext by ICE, in line with its previously announced strategy. ICE received a waiver of the lock-up agreement entered into at the time of the Euronext initial public offering in June 2014, which was due to expire on December 21. The shares will be offered by way of a private placement to institutional investors. The book-building will commence immediately. ICE reserves the right to close the books at short notice. Pricing and allocations will be determined at the conclusion of the offering and are expected to be announced in a separate press release.
10:00 EDTNFXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Resources (AR) upgraded to Buy from Neutral at Citigroup... Apache (APA) upgraded to Buy from Neutral at Citigroup... Applied Materials (AMAT) upgraded to Buy from Hold at Deutsche Bank... Arch Capital (ACGL) upgraded to Outperform from Market Perform at BMO Capital... CU Bancorp (CUNB) upgraded to Buy from Hold at Sandler O'Neill... Calpine (CPN) upgraded to Outperform from Neutral at Macquarie... Commerzbank (CRZBY) upgraded to Market Perform from Underperform at Keefe Bruyette... EastGroup Properties (EGP) upgraded to Neutral from Underperform at Credit Suisse... Enbridge Energy Management (EEQ) upgraded to Equal Weight at Morgan Stanley... Enbridge Energy (EEP) upgraded to Equal Weight from Underweight at Morgan Stanley... GasLog (GLOG) upgraded to Buy from Hold at Stifel... Hoegh LNG (HMLP) upgraded to Buy from Neutral at UBS... Illinois Tool Works (ITW) upgraded to Buy from Accumulate at Global Hunter... LaSalle Hotel (LHO) upgraded at Morgan Stanley... Lufthansa (DLAKY) upgraded to Buy from Neutral at Nomura... NASDAQ (NDAQ) upgraded to Outperform from Market Perform at Keefe Bruyette... Newfield Exploration (NFX) upgraded to Buy from Neutral at Citigroup... Omega Healthcare (OHI) upgraded to Buy from Hold at Jefferies... Orange SA (ORAN) upgraded to Conviction Buy from Neutral at Goldman... SM Energy (SM) upgraded to Outperform from Market Perform at BMO Capital... Southwest (LUV) upgraded at Goldman... TSMC (TSM) upgraded to Buy from Neutral at BofA/Merrill... United Technologies (UTX) upgraded at Bernstein... eBay (EBAY) upgraded to Buy from Hold at Stifel.
10:00 EDTCPOn The Fly: Analyst Downgrade Summary
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08:09 EDTITGITG reports Nov. average daily trading volume 180M shares
ITG announced that November 2014 U.S. trading volume was 3.4B shares and average daily volume, or ADV, was 180M shares. This compares to 4.7B shares and ADV of 206M shares in October and 3.0 billion shares and ADV of 150M shares in November 2013. There were 19 trading days in November, 23 trading days in October and 20 trading days in November 2013.
06:16 EDTNFXNewfield Exploration upgraded to Buy from Neutral at Citigroup
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05:40 EDTCPCanadian Pacific downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded Canadian Pacific Railway to Neutral saying uncertainty around lower oil prices should drive a reduced multiple for shares. Goldman cut its price target for the rail operator to $202 from $223, but points out the company's crude business has yet to be impacted from lower oil prices. CP shares closed Friday down $2.57 to $191.58.
December 5, 2014
17:03 EDTCPCanadian Pacific to purchase 1.25M common shares through private agreements
Canadian Pacific announced that it intends to purchase for cancellation up to 1.25M of its common shares pursuant to private agreements to be entered into between CP and an arm's‐length third‐party seller. Purchases will be made in accordance with an issuer bid exemption order issued by the Ontario Securities Commission dated December 5. The Order is in addition to the issuer bid exemption order recently issued to CP by the OSC on November 25 with respect to 1,210,163 CP common shares. Pursuant to the Order, purchases may be made in several transactions prior to March 16, 2015. The price CP will pay for its common shares purchased by way of private agreements will be at a discount to the prevailing market price of CP common shares on the Toronto Stock Exchange at the time of purchase. Purchases made by CP will be counted towards CP's normal course issuer bid announced on March 11, as amended September 29, for up to 12,650,862 CP common shares and will not exceed, in aggregate, one third of the maximum number of common shares CP may purchase under the Bid, being 4,216,954 common shares. The actual number of CP common shares that will be repurchased under the Bid, by way of any private agreements or otherwise, and the timing of any such purchases, will be determined by CP. There cannot be any assurances as to how many common shares will ultimately be acquired by CP under the Bid.
15:39 EDTCTRPCtrip.com falls, heading for lows of the day, levels to watch
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12:03 EDTDGFive Below plummets after Q4, FY14 outlooks trail analysts' estimates
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10:25 EDTNNNNational Retail Properties management to meet with FBR Capital
Meeting to be held in the Mid-Atlantic area on December 9 hosted by FBR Capital.
10:03 EDTDGFamily Dollar sees Dollar General needing to divest over 3.4K stores, CNBC says
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10:00 EDTICEOn The Fly: Analyst Downgrade Summary
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10:00 EDTNNNOn The Fly: Analyst Upgrade Summary
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09:32 EDTPPCPilgrim's Pride downgraded to Hold from Buy at BB&T
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09:19 EDTDGDollar General says remains committed to purchase of Family Dollar
Dollar General Corporation (DG) issued the following statement in response to comments made by Dollar Tree (DLTR) regarding its view of potential store divestitures that may be required by the FTC in either a Dollar Tree/Family Dollar Stores (FDO) or a Dollar General/Family Dollar combination. Dollar Generalís documents and data tell a very different story from that contained in the press release issued today by Dollar Tree. As Dollar General previously has stated, Walmart (WMT), not Family Dollar, is the primary driver regarding Dollar Generalís strategic pricing decisions, and more than 90% of Dollar Generalís SKUs are nationally priced. Dollar General is confident that its approach to strategic and pricing decisions is both correct and superior to that of Family Dollar and Dollar General has no intention of adopting a flawed strategy -- either now or after an acquisition of Family Dollar -- that it believes would impair its ability to compete with Walmart and lead to inferior financial performance. Dollar General is actively engaged in discussions with the FTC regarding the extent of potential divestitures that would be required in connection with an acquisition of Family Dollar and has been making good progress. Over the past few weeks, Dollar General has provided the FTC with tens of thousands of documents supporting the above facts and its broad view of competition. There is no reason to believe that the FTC would take into account only Family Dollarís documents and data or afford them greater significance than Dollar General's own evidence. As stated in Dollar General's press release of December 4, Dollar General will continue to work with the FTC and expects to provide an update in sufficient time to allow Family Dollar shareholders to review such information prior to the Family Dollar shareholdersí meeting now scheduled for December 23.
08:15 EDTNNNNational Retail Properties upgraded at BofA/Merrill
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06:15 EDTICEIntercontinentalExchange downgraded to Neutral from Buy at Citigroup
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06:10 EDTAVTop Aviva shareholder cuts stake amid Friends Life takeover, FT reports
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06:09 EDTDGDollar Tree provides update on FTC review of pending acquisition of Family Dolla
Dollar Tree (DLTR) announced that it was providing an update regarding the status of the FTC's review of its pending acquisition of Family Dollar (FDO). Dollar Tree and Family Dollar have been actively engaging with the staff of the FTC as they review the pending merger. The company said, "The staff of the FTC is very focused on the discount retail sector (including how Family Dollarís current pricing rules would impact store prices in a merger transaction) and has indicated that some divestitures will be required for the Pending Merger, which we believe will be no more than our original commitment in the July 27, 2014, Merger Agreement. Dollar Tree will work diligently with the FTC staff over the next few weeks concerning divestitures. Given the relatively small number of divestitures our transaction implicates, Dollar Tree does not expect any such divestiture to have a material impact on its plans for the combined organization. Furthermore, we believe that we will be in a position to complete the financing for the Pending Merger in January 2015 and to complete the Pending Merger as early as February 2015... In connection with its unsolicited tender offer for Family Dollar, Dollar General (DG) continues to refuse to agree to a ďhell-or-high-waterĒ commitment. Based on the foregoing concerns regarding the Pending Merger, Dollar Tree believes that the FTC may require divestitures far in excess of the 1,500 stores that Dollar General has offered to divest in its tender offer for Family Dollar... The special meeting of Family Dollar shareholders to vote on the Pending Merger is currently scheduled for December 23, 2014. To facilitate the FTCís continued review, and in light of the practicalities associated with the transaction, Dollar Tree and Family Dollar have agreed not to close the Pending Merger until January 30, 2015, unless the FTC completes its review of the Pending Merger and terminates the waiting period at an earlier date. Dollar Tree will continue to provide additional information as the special meeting date approaches."
06:06 EDTNNNNational Retail Properties upgraded to Buy from Neutral at BofA/Merrill
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