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Stock Market & Financial Investment News

News Breaks
December 4, 2012
15:06 EDTVTSS, PLAB, NCS, ENVI, AVAV, SEAC, P, MIND, BLIN, POWL, OXM, MFRM, ASYSCompanies reporting After the Market Close on Tuesday, December 4
Notable companies reporting after the closing bell on Tuesday include AeroVironment (AVAV), Amtech Systems (ASYS), Bridgeline Digital (BLIN), Envivio (ENVI), Mattress Firm Holding (MFRM), Mitcham Industries (MIND), NCI Building Systems (NCS), Oxford Industries (OXM), Pandora Media (P), Photronics (PLAB), Powell Industries (POWL), SeaChange International (SEAC), and Vitesse Semiconductor (VTSS).
News For AVAV;ASYS;BLIN;ENVI;MFRM;MIND;NCS;OXM;P;PLAB;POWL;SEAC;VTSS From The Last 14 Days
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February 11, 2016
14:19 EDTPPandora halted for volatility after jumping 2% to $8.59
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14:19 EDTPPandora has held sale talks, NY Times reports
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07:34 EDTPLABPhototronics raises Q1 EPS view to 26c-28c from 14c-23c, consensus 19c
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February 10, 2016
10:01 EDTPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Antero Resources (AR) downgraded to Neutral from Buy at Goldman... Apollo Investment (AINV) downgraded to Sell from Neutral at Citi... BBA Aviation (BBAVY) downgraded to Neutral from Buy at Goldman... CM Finance (CMFN) downgraded to Outperform from Strong Buy at Raymond James... CTI BioPharma (CTIC) downgraded to Sell from Hold at WallachBeth... Calix (CALX) downgraded to Market Perform from Outperform at Cowen... ConocoPhillips (COP) downgraded to Peer Perform from Outperform at Wolfe Research... Fifth Street Finance (FSC) downgraded to Neutral from Overweight at JPMorgan... Fortis (FRTSF) downgraded to Neutral from Outperform at Credit Suisse... ITC Holdings (ITC) downgraded to Market Perform from Outperform at Wells Fargo... KapStone (KS) downgraded to Hold from Buy at Deutsche Bank... Knight Transportation (KNX) downgraded to Hold from Buy at Evercore ISI... Lake Shore Gold (LSG) downgraded to Sector Performer from Outperformer at CIBC... Medley Capital (MCC) downgraded to Hold from Buy at Jefferies... Pandora (P) downgraded to Market Perform from Outperform at Cowen... Parker-Hannifin (PH) downgraded to Hold from Buy at Evercore ISI... Parkway Properties (PKY) downgraded on real estate headwinds, valuation at Stifel... Plains GP Holdings (PAGP) downgraded to Neutral from Outperform at Credit Suisse... Ruckus Wireless (RKUS) downgraded to Neutral from Buy at SunTrust... SolarCity (SCTY) downgraded to Neutral from Buy at Roth Capital... Tahoe Resources (TAHO) downgraded to Sector Perform from Outperform at RBC Capital... USANA (USNA) downgraded to Neutral from Buy at DA Davidson... Valero (VLO) downgraded to Buy from Conviction Buy at Goldman... Western Union (WU) downgraded to Neutral from Outperform at Macquarie... XL Group (XL) downgraded to Sell from Hold at Deutsche Bank.
08:47 EDTPPandora price target lowered to $16 from $24 at Canaccord
Canaccord lowered its price target on Pandora citing competitive concerns from Spotify as well as expectations for lower EBITDA due to higher publishing royalties and the impact of recent acquisitions. Canaccord maintained its Buy rating on Pandora shares as the firm expect the company's headwinds to moderate.
06:19 EDTPPandora downgraded to Market Perform from Outperform at Cowen
Cowen analyst John Blackledge downgraded Pandora to Market Perform to reflect lower ad loads. The analyst said recent acquisition of Ticketfly and Rdio in Q4 indicate Pandora is diversifying its revenue stream and suggests challenges in the core business. Blackledge materially lowered 2017-2021 estimates mainly due to lower ad load forecasts given rising competition and cut his price target on Pandora shares to $9 from $21.
05:01 EDTPStocks with implied volatility above IV index mean; P DB
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February 9, 2016
17:26 EDTMFRMBerkshire Partners reports 10.4% stake in Mattress Firm
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February 8, 2016
09:07 EDTMFRM40 North sends letter to board of Mattress Firm, urges board changes
40 North Management, which holds a 8.5% stake in Mattress Firm, disclosed a letter it sent to the board of directors of the company, in which the investor stated in part: "[We] are compelled to write now given our recent dialogue with the Board and the Board's decision to amend the terms of the Sleepy's acquisition on February 3rd and issue over half a million shares of Company common stock to Company insiders including J.W. Childs affiliates at a near two-year low, a transaction which can only be described as an egregious insider deal. We recognize the current volatility in the credit markets, which pushed the Board to consider various financing alternatives including further equitizing the Company. But rather than provide all shareholders the opportunity to participate in the contemplated dilutive share offering, the Board deplorably issued equity solely to its insiders when the Company's stock was trading at what a J.W. Childs representative described as a significantly undervalued price...40 North would gladly have participated in the February 3rd share issuance had it been offered the opportunity to do so, and we believe the Company would have been far better served by issuing the stock to its truly long-term shareholders rather than J.W. Childs who has been a consistent seller of the stock for years. In recent conversations with members of the Board affiliated with J.W. Childs, we discussed changes to the makeup of the current Board to address our governance concerns, including a proposal made by members of the Board to add two 40 North representatives to the Board. While we are clearly willing to serve on the Board, we ultimately concluded that the appointment of 40 North representatives alone was inadequate and a broader transformation to the composition of the Board was required to ameliorate the Company's significant corporate governance issues and shareholder misalignment. In particular, J.W. Childs must commit to taking a minority position, commensurate with its economic ownership, and to the appointment of new unaffiliated independent directors to serve as the majority."
February 5, 2016
16:08 EDTMFRMMattress Firm sees annual synergies of $40M by FY18 from Sleepy's acquisition
Mattress Firm announced the completion of its acquisition of all of the outstanding equity interests in HMK Mattress Holdings, the holding company of Sleepy's and related entities, for an aggregate purchase price of $780M, subject to working capital and other customary adjustments. The Company expects to generate annual synergies of approximately $40M by Fiscal 2018. In addition, the Company expects to receive future cash income tax benefits totaling over $11M annually for more than 10 years from the deductible tax basis goodwill generated from the transaction and from the carryover tax basis of other assets, both subject to the Company's ability to generate future taxable income. Mattress Firm expects mid-single digit EPS dilution in FY16, becoming EPS accretive in FY17 and growing to high-single digit EPS accretion by FY18, excluding one-time costs. The combined company anticipates it can generate significant free cash flow, which can be used primarily to pay down debt and/or undertake future organic growth or potential acquisitions.
08:02 EDTASYSAmtech Systems outlook has improved, says Stifel
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February 4, 2016
16:30 EDTASYSAmtech Systems sees Q2 revenue $20M-$22M, consensus $24.68M
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16:29 EDTASYSAmtech Systems reports Q1 EPS (31c), consensus (33c)
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16:28 EDTASYSAmtech Systems announces $12M in new solar orders in January
Amtech Systems announced its solar segment, consisting of Tempress Systems, R2D Automation, and SoLayTec, received approximately $12M in new solar orders in January, including orders for SoLayTec's ALD systems. The orders are expected to ship within the next six to twelve months.
February 3, 2016
14:00 EDTMFRMMattress Firm agrees to issue 1.76M shares of common stock
On February 3, 2016, the company agreed to issue an aggregate of 1,762,236 shares of common stock. The Company expects to complete the issuance of the shares of common stock, which issuance will be equivalent to approximately 4.9% of the currently issued and outstanding shares of common stock, on February 5. The Company will receive cash in exchange for 699,300 shares and the remaining 1,062,936 shares will be issued as partial purchase price consideration in exchange for equity interests in Sleepy's. The Board of Directors of the Company approved the issuance after the close of trading on February 2 at a price per share of $35.75.
13:53 EDTMFRMMattress Firm sees Sleepy transaction mid-single digit dilutive in FY16
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February 2, 2016
16:25 EDTPOWLPowell sees FY16 adjusted EPS 65c-$1.05, consensus 78c
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16:24 EDTPOWLPowell reports Q1 adjusted EPS 18c, may not compare to consensus 41c
Reports Q1 revenue $150M, consensus $154.46M.
09:14 EDTAVAVAeroVironment, NOAA to provide U.S. Coast Guard with unmanned aircraft system
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January 28, 2016
09:02 EDTPPandora launches Browse
Pandora launched Browse, a new way to help users discover even more music. "Finding new music should be a simple and enjoyable experience," said Chris Phillips, chief product officer of Pandora. "Our musicologists have scored millions of songs to find the perfect music just for you. The new Browse feature makes it easy to find the music you love whether you know what you want, or need a little help discovering music you didn't know existed." The service includes fresh station recommendations, music metrics, and the ability see what's spinning on a station before adding it to station list.
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