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Stock Market & Financial Investment News

News Breaks
May 9, 2014
09:58 EDTTC, SAP, SSI, PGH, MNTA, NSLP, EDU, LPI, CPE, BWLD, DECK, BPTH, AVGOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Avago (AVGO) reinstated with an Overweight at Barclays... Bio-Path Holdings (BPTH) initiated with a Buy at Maxim... Buffalo Wild Wings (BWLD) initiated with an Underperform at Buckingham... Callon Petroleum (CPE) assumed with a Buy at Brean Capital... Deckers Outdoor (DECK) initiated with an Outperform at Macquarie... Laredo Petroleum (LPI) assumed with a Buy at Brean Capital... Momenta Pharma (MNTA) initiated with a Buy at Maxim... New Oriental Education (EDU) initiated with an Overweight at JPMorgan... New Source Energy (NSLP) initiated with a Buy at Wunderlich... Pengrowth Energy (PGH) coverage assumed with a Sector Perform at RBC Capital... SAP (SAP) initiated with a Market Perform at BMO Capital... Stage Stores (SSI) initiated with a Buy at BofA/Merrill... Thompson Creek (TC) initiated with a Market Perform at BMO Capital.
News For AVGO;BPTH;BWLD;CPE;DECK;LPI;MNTA;EDU;NSLP;PGH;SSI;SAP;TC From The Last 14 Days
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July 28, 2015
16:09 EDTBWLDBuffalo Wild Wings revises FY15 EPS growth to 13%, consensus $5.77
"As a result of the near-term expenses from the integration of the franchise acquisition, we are revising our net earnings growth goal for 2015 to 13%," said the company.
16:08 EDTBWLDBuffalo Wild Wings sees acquisition of Texas franchises impacting FY15 EPS
"In July, we finalized a purchase agreement to acquire 41 franchised Buffalo Wild Wings locations in Texas, New Mexico, and Hawaii and we anticipate the transaction closing in August. This acquisition is expected to decrease net earnings in 2015 due to the timing of the closing, increased depreciation and amortization of reacquired franchise rights, and $5M in transition costs," the company said. FY15 EPS consensus is $5.77.
16:06 EDTBWLDBuffalo Wild Wings reports Q2 EPS $1.12, consensus $1.26
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15:21 EDTBWLDNotable companies reporting after market close
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July 24, 2015
10:00 EDTBWLDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abaxis (ABAX) downgraded to Hold from Buy at Canaccord... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at Dougherty... CF Industries (CF) downgraded on nitrogen outlook at RBC Capital... Capital One (COF) downgraded to Neutral from Overweight at JPMorgan... Cepheid (CPHD) downgraded to Sell from Hold at Evercore ISI... Constant Contact (CTCT) downgraded to Neutral from Outperform at Baird... Equifax (EFX) downgraded to Neutral from Outperform at Baird... Hannover Re (HVRRY) downgraded to Underweight from Neutral at JPMorgan... IAMGOLD (IAG) downgraded to Underperform from Market Perform at Raymond James... MSA Safety (MSA) downgraded to Neutral from Accumulate at Global Hunter... MTU Aero (MTUAY) downgraded to Underperform from Buy at BofA/Merrill... Macy's (M) downgraded to Underweight from Neutral at Atlantic Equities... Sunesis (SNSS) downgraded to Hold from Buy at Cantor... Superior Drilling (SDPI) downgraded to Hold from Buy at Wunderlich... TrueCar (TRUE) downgraded to Equal Weight from Overweight at Stephens... United Rentals (URI) downgraded to Outperform from Top Pick at RBC Capital... WESCO (WCC) downgraded to Equal Weight from Overweight at Stephens.
09:10 EDTBWLDBuffalo Wild Wings downgraded to Neutral from Buy at Dougherty
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July 23, 2015
17:10 EDTTCRoyal Gold provides streaming and royalty update
Royal Gold (RGLD) provided an operational update for its streaming and royalty interests at Mount Milligan, Phoenix and Voisey’s Bay. In Q2, the company’s wholly owned subsidiary, RGLD Gold AG, purchased approximately 21,400 ounces of gold from the Mount Milligan mine at a cash price of $435 per ounce as part of its purchase and sale agreement with Thompson Creek (TC) and sold approximately 23,000 ounces of gold related to Mount Milligan. Rubicon Minerals (RBY) announced its first gold pour at the Phoenix Gold Project of approximately 741 ounces. RGLD Gold will begin receiving deliveries in the current quarter related to initial commissioning activities and anticipates more substantial gold deliveries as the mine ramps up to design production. Rubicon will deliver 6.30% of the gold from the Phoenix mine until 135,000 ounces have been delivered, then 3.15% thereafter. RGLD Gold will pay 25% of the spot price at the time of delivery. Royal Gold also received the first quarterly royalty payment relating to processing Voisey’s Bay nickel concentrates at Vale’s new Long Harbour hydrometallurgical plant.
07:48 EDTBWLDBuffalo Wild Wings August volatility elevated into Q2 and outlook
Buffalo Wild Wings August call option implied volatility is at 41, September is at 31; compared to its 52-week range of 21 to 48, suggesting large near term price movement into the expected release of Q2 results on July 28.
July 22, 2015
14:51 EDTAVGOEarnings Watch: Qualcomm reports after speculations of potential breakup
Qualcomm (QCOM) is expected to report third quarter earnings after the close on July 22, with a conference call scheduled for 4:45 pm ET. Qualcomm is a maker of semiconductors and telecommunications equipment. EXPECTATIONS: Analysts are looking for earnings per share of 95c on revenue of $5.85B. EPS consensus ranges 90c-$1.05 on a revenue range of $5.59B-$6.08B, according to First Call. LAST QUARTER: On April 22, Qualcomm reported Q2 EPS of $1.40 against expectations for $1.33, and revenue of $6.89B versus estimates of $6.83B. The company also cut its FY15 EPS guidance to $4.60-$5.00 from $4.85-$5.05 and lowered projected revenue to $25B-$27B from $26.3B-$28B, saying it expects pressure in its semiconductor business due to customer shifts in the premium segment and a decline in Qualcomm's share at an unnamed large customer. NEWS: On May 8, Reuters reported that EU antitrust regulators asked Qualcomm's competitors how the company's licensing and business practices affect them, and on July 16, the European Commission confirmed two formal antitrust investigations of the company. On May 25, Qualcomm and Daimler (DDAIF) announced a strategic collaboration to develop connected car technology. Coming on the heels of Avago's (AVGO) May 28 agreement to acquire Broadcom (BRCM), Bloomberg quoted a source later that day as saying Qualcomm, Intel (INTC), Altera (ALTR), Analog Devices (ADI), Maxim Integrated (MXIM), Texas Instruments (TXN), and Microchip Technology (MCHP) are all considering their own M&A opportunities. Note that on June 1, Intel announced an agreement to acquire Altera. On June 23, Semiconductor Manufacturing International (SMI), Qualcomm, Huawei, and Imec announced the formation of a joint venture to focus on a type of 14 nanometer technology. More recently, the Wall Street Journal reported on July 20 that Qualcomm is "expected" to begin a comprehensive strategic review which may include the possibility of a breakup following pressure from "activist" shareholder Jana Partners, according to sources, adding that the move could be announced concurrent with Wednesday's earnings release. STREET RESEARCH: Following last quarter's earnings report, Exane BNP Paribas downgraded Qualcomm to Neutral from Outperform, while both Canaccord and Brean Capital lowered price targets for the stock after "disappointing" guidance. Meanwhile, Citi said it expects the company's chip business to recover in 2016 despite this "very bad year." On May 28, CLSA said it sees continued pressure on Qualcomm chipsets, potentially spurring the company to consider making an acquisition, and on June 2, Craig-Hallum noted that Skyworks (SWKS) would be a great fit for Qualcomm. On June 24, Summit Research called Applied Micro Circuits (AMCC) an "affordable" target for Qualcomm, with AMD (AMD) and Cavium (CAVM) also looking like potential takeover candidates. On June 29, Drexel Hamilton downgraded Qualcomm to Sell from Hold, citing expected price cuts. Lastly, following media reports on July 20 that Qualcomm could be weighing a breakup, Bernstein said that such a "dis-synergistic" split would likely destroy value rather than create it. PRICE ACTION: Shares of Qualcomm are down more than 1% to $64.37 in afternoon trading ahead of Wednesday's earnings report.
10:01 EDTBWLDOn The Fly: Analyst Downgrade Summary
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09:22 EDTBWLDBuffalo Wild Wings downgraded to Mixed from Positive at OTR Global
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July 21, 2015
19:00 EDTAVGOOn The Fly: After Hours Movers
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10:01 EDTSAPSAP NS2 announces strategic partnership with Virtustream
SAP National Security Services, an independent, U.S. based subsidiary of SAP, announced a strategic partnership with Virtustream to support SAP NS2’s goal of providing FedRAMP compliant services. The new partnership allows agencies to streamline the time to deployment of software solutions and to scale their SAP HANA landscapes with on-demand capacity, all while adhering to the necessary security controls and policies identified through the FedRAMP process.
05:38 EDTEDUNew Oriental Education declares a special dividend of 40c per ADS/common share
New Oriental's board has declared a special cash dividend in the amount of 40c per ADS/common share. The cash dividend will be paid on October 7, 2015 to shareholders of record at the close of business on September 4, 2015. The ex-dividend date will be October 5, 2015. The aggregate amount of cash dividends to be paid is approximately $63M, which will be funded by surplus cash on the company's balance sheet.
05:37 EDTEDUNew Oriental Education sees Q1 revenue $441.3M-$457M, consensus $449.67M
If not including the deduction of approximately $5.3M revenue that will be deferred resulting from the company's customer loyalty programs, the projected revenue growth rate is expected to be in the range of 13% to 17% for the first quarter of fiscal year 2016.
05:35 EDTEDUNew Oriental Education reports Q4 total student enrollments up 34.7% to 783,400
Total student enrollments in academic subjects tutoring and test preparation courses increased 34.7% to 783,400 for the fourth fiscal quarter of 2015. The total number of schools and learning centers was 724 as of May 31, 2015, an increase of 21 compared to 703 as of May 31, 2014, and an increase of 2 compared to 722 as of February 28, 2015. New Oriental added a net of 2 learning centers in the quarter. The total number of schools increased to 60 and the total number of learning centers to 664 as of May 31, 2015.
05:34 EDTEDUNew Oriental Education reports Q4 non-GAAP EPS 26c, consensus 21c
Reports Q4 revenue $328.81M, consensus $326.76M. Total net revenues would have increased 16.2% if including $5.3M of temporarily deferred revenue resulting from the company's customer loyalty programs.
05:26 EDTSAPSAP backs FY15 non-IFRS cloud subscriptions, support revenue EUR 1.95B-EUR 2.05B
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05:22 EDTSAPSAP reports Q2 EPS EUR 0.39 vs. EUR 0.47 last year
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July 20, 2015
12:40 EDTSAPEarnings Watch: IBM up 4% since last quarterly report
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