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February 28, 2014
09:59 EDTTAST, DYN, WLK, RSYS, EV, AWR, AEGN, DECK, WLL, WSBC, PFG, CR, CTP, NDSN, FRO, TRIP, GPS, CSOn The Fly: Analyst Upgrade Summary
American States Water (AWR) upgraded to Buy from Hold at Brean Capital... Crane (CR) upgraded to Buy from Neutral at Citigroup... Credit Suisse (CS) upgraded to Overweight from Equal Weight at Barclays... Eaton Vance (EV) upgraded to Buy from Neutral at Sterne Agee... Gap (GPS) upgraded to Neutral from Underweight at Atlantic Equities... Principal Financial (PFG) upgraded to Outperform from Market Perform at Keefe Bruyette... RadiSys (RSYS) upgraded to Buy from Hold at Needham... Taseko Mines (TGB) upgraded to Buy from Neutral at BofA/Merrill... TripAdvisor (TRIP) upgraded to Neutral from Negative at Susquehanna... WesBanco (WSBC) upgraded to Outperform from Market Perform at Keefe Bruyette... Westlake Chemical (WLK) upgraded to Overweight from Neutral at JPMorgan... Frontline (FRO) upgraded to Hold from Sell at Deutsche Bank... Whiting Petroleum (WLL) upgraded to Buy from Accumulate at KLR Group... Nordson (NDSN) upgraded to Buy from Hold at BB&T... Dynegy (DYN) upgraded to Neutral from Cautious at ISI Group... Deckers Outdoor (DECK) upgraded to Positive from Neutral at Susquehanna... Carrols Restaurant (TAST) upgraded to Strong Buy from Outperform at Raymond James... CTPartners (CTP) upgraded to Outperform from Market Perform at William Blair... Aegion (AEGN) upgraded to Neutral from Underperform at Wedbush.
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November 24, 2014
15:20 EDTEVNotable companies reporting before tomorrow's open
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09:11 EDTTRIPTripAdvisor coverage assumed with an Outperform at Credit Suisse
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06:03 EDTWLKWestlake Chemical announces new $250M share repurchase program
The board of Westlake Chemical on Friday, November 21, authorized the company to repurchase up to $250M in shares of its common stock under a new share repurchase program. This program is effective immediately.
05:07 EDTGPSGap, Zalando announce Pan-European partnership
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November 21, 2014
16:20 EDTGPSOn The Fly: Closing Wrap
Stocks on Wall Street gained after China's central bank cut interest rates for the first time in over two years to bolster its economy. Additionally, the head of Europe's central bank said he was determined to do what is needed to ensure the area's economy does not once again fall into crisis. ECONOMIC EVENTS: In the U.S., the Kansas City Fed manufacturing index for November had a reading of 7, compared to the consensus forecast for a reading of 6. In Asia, the People's Bank of China unexpectedly cut interest rates, slashing the one-year lending rate by 40 basis points and the one-year deposit rate by 25 basis points. The move, which was the central bank's first interest rate cut since 2012, surprised markets around the globe. In Europe, European Central Bank President Mario Draghi said indicators have been declining to levels he would deem "excessively low" and that he is determined to use more aggressive measures, such as large scale asset purchases, as needed. COMPANY NEWS: Microsoft (MSFT) was the worst performer on the Dow after Jefferies initiated coverage of the stock with an Underperform rating. Microsoft's stock has rallied 30% in the last year, but the company is still facing the same fundamental problems as in previous years, Jefferies analyst John DiFucci wrote. He set a $40 price target on the shares, which slipped 74c, or 1.5%, to $47.97. MAJOR MOVERS: Among the notable gainers was Ross Stores (ROST), which advanced $6.06, or 7.28%, to $89.27 after the company reported stronger than expected Q3 results. Also higher were shares of Caterpillar (CAT), which rose $4.36, or 4.27%, to $106.45 amid the quantitative easing actions taken abroad and after research firm Stifel initiated coverage of the stock with a Buy rating. Among the noteworthy losers was GameStop (GME), which sunk $5.68, or 13.05%, to $37.86 after the video game retailer's third quarter results, as well as its fourth quarter and full year profit forecasts, trailed consensus estimates. Also lower were shares of The Gap (GPS), which dropped $1.68, or 4.19%, to $38.46 after the owner of Banana Republic, Old Navy and its namesake clothing brand lowered its fiscal year profit outlook. INDEXES: The Dow rose 91.06, or 0.5%, to 17,810.06, the Nasdaq gained 11.10, or 0.24%, to 4,712.97, and the S&P 500 added 10.75, or 0.52%, to 2,063.50.
13:20 EDTGPSOn The Fly: Midday Wrap
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06:24 EDTGPSGap says Jeff Kirwan to become global president for Gap brand in December
Gap yesterday announced the promotion of two current executives, with 35 years of combined company experience between them, to become global brand presidents for Gap and Banana Republic. The moves were orchestrated by Art Peck as he prepares to take on the role of CEO of Gap Inc. in February, with the full support of current chairman and CEO Glenn Murphy. Jeff Kirwan, who has reported to Murphy for the past three years as president of greater China for Gap Inc., will become Global President for Gap brand in December following a brief transition period. Kirwan succeeds Stephen Sunnucks, who will leave the company on December 19, after steering the growth of its namesake brand to almost 50 countries over the past decade. Andi Owen, 49, who currently leads the Gap Outlet division, will become Global President for Banana Republic, effective January 5. She succeeds Jack Calhoun, who will depart from the company on February 1 after working with Owen during the transition.
November 20, 2014
18:21 EDTGPSOn The Fly: After Hours Movers
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16:06 EDTGPSGap down 3% after lowering FY14 EPS guidance
16:05 EDTGPSGap now sees FY14 operating margin to be about 12.5%
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16:03 EDTGPSGap lowers FY14 EPS view to $2.73-$2.78, consensus $2.82
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16:01 EDTGPSGap reports Q3 EPS with benefit 80c, consensus 79c
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15:51 EDTGPSGap technical remarks before results
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15:28 EDTGPSNotable companies reporting after market close
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November 19, 2014
07:34 EDTCSNYSSA to hold a forum
Fall 2014 ETP Trading & Investing Forum is being held in New York on November 19.
November 18, 2014
08:04 EDTAWRAmerican States Water announces approval by CPUC of new rates at GSWC
American States Water Company announced that the California Public Utilities Commission recently issued a final decision adopting the settlement agreement between Golden State Water Company a subsidiary of AWR, and all the parties involved in the general rate case for GSWC’s electric division, Bear Valley Electric Service, on the revenue requirement in the case. The final decision sets new rates for the years 2013–2016 providing for modest increases in customer rates. While the new rates are retroactive to January 1, 2013, they are not expected to materially impact GSWC’s 2014 – 2016 earnings. Among other things, the settlement agreement authorizes a return on equity of 9.95% with a corresponding return on rate base of 8.60%, and approves $11 million of capital projects for 2013 – 2016. The final decision also authorized approximately $8.5 million of additional capital projects to be filed for revenue recovery with advice letters when those projects are completed.
06:34 EDTCSDraghi sees positive signs in euro zone, NY Times reports
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05:30 EDTWLKTechnip awarded contract by Westlake Chemical
Technip (TKPPY) was awarded a contract by Westlake Chemical (WLK) to provide detailed engineering and procurement services to expand the recovery section of Westlake’s Petro 1 ethylene plant at its complex in Sulphur, Louisiana. Technip’s operating center in Houston, Texas, will execute the project, with support from the Group’s office in Mumbai, India.
November 17, 2014
07:50 EDTTRIPTripAdvisor price target lowered to $90 from $99 at Oppenheimer
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07:23 EDTCRUBS to hold a field trip
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