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Stock Market & Financial Investment News

News Breaks
August 4, 2014
10:04 EDTWY, TMUS, SLRC, MLNX, CCO, AJG, AL, X, SYRG, OIS, HIMX, BBW, AWI, AXAHY, TRGP, STLD, OXY, DPZ, BYI, ALUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AXA (AXAHY) upgraded to Buy from Neutral at BofA/Merrill... Air Lease (AL) upgraded at RBC Capital... Alcatel-Lucent (ALU) upgraded to Overweight from Equal Weight at Morgan Stanley... Armstrong World (AWI) upgraded to Neutral from Underweight at JPMorgan... Arthur J. Gallagher (AJG) upgraded to Buy from Hold at Deutsche Bank... Bally Technologies (BYI) upgraded to Neutral from Sell at Goldman... Build-A-Bear (BBW) upgraded to Outperform from Market Perform at BMO Capital... Clear Channel Outdoor (CCO) upgraded to Equal-Weight from Underweight at Evercore... Domino's Pizza (DPZ) upgraded to Buy from Hold at Miller Tabak... Himax (HIMX) upgraded to Buy from Hold at Lake Street... Mellanox (MLNX) upgraded to Equal Weight from Underweight at Barclays... Occidental Petroleum (OXY) upgraded to Overweight from Equal Weight at Morgan Stanley... Oil States (OIS) upgraded at Credit Suisse... Solar Capital (SLRC) upgraded to Overweight from Neutral at JPMorgan... Steel Dynamics (STLD) upgraded to Buy from Hold at KeyBanc... Synergy Resources (SYRG) upgraded at Stifel... T-Mobile (TMUS) upgraded to Overweight from Equal-Weight at Evercore... Targa Resources (TRGP) upgraded to Outperform at Baird... U.S. Steel (X) upgraded to Buy from Hold at Deutsche Bank... Weyerhaeuser (WY) upgraded to Buy from Neutral at DA Davidson.
News For AXAHY;AL;ALU;AWI;AJG;BYI;BBW;CCO;DPZ;HIMX;MLNX;OXY;OIS;SLRC;STLD;SYRG;TMUS;TRGP;X;WY From The Last 14 Days
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August 20, 2015
14:39 EDTALUEarnings Watch: Hewlett-Packard reports ahead of company split
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11:54 EDTTMUSInteliquent upgraded to Strong Buy from Buy at BWS Financial
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10:00 EDTOISOn The Fly: Analyst Initiation Summary
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10:00 EDTTRGPOn The Fly: Analyst Downgrade Summary
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08:19 EDTTRGPJefferies sees downside risk in Targa, cuts to Underperform
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07:00 EDTOISOil States initiated with a Hold at Deutsche Bank
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05:58 EDTTRGPTarga Resources downgraded to Underperform from Hold at Jefferies
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August 19, 2015
16:34 EDTALAir Lease delivers one Boeing 737-800 to American Airlines
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12:47 EDTWYWeyerhaeuser volatility low as shares at low end of one-year range
Weyerhaeuser August call option implied volatility is at 14, September is at 16; compared to its 52-week range of 14 to 25 suggesting large price movement.
10:57 EDTTMUST-Mobile promotion gives Netflix analyst greater confidence
UBS raised its price target on Netflix (NFLX) to $143 from $116, saying that its confidence in the company's outlook has improved following a promotion undertaken by T-Mobile (TMUS). WHAT'S NEW: T-Mobile recently began offering one free year of Netflix to consumers who switch to its wireless service, UBS analyst Doug Mitchelson wrote in a note to investors today. Mitchelson said that the promotion increases his confidence in the outlook for Netflix's U.S. business. Moreover, he believes that Netflix could "become a standard promotional tool" for wired and wireless broadband providers going forward. Although Netflix's stock "looks very expensive" in the near-term, the company's long-term opportunity is "extraordinary," given the potential size of the global streaming market, the analyst stated. Mitchelson's "upside case" for Netflix shares is $199 while his "downside case" is $55. The downside case assumes Hollywood starts restricting content licensing to streaming services like Netflix in attempt to slow their growth. He raised his price target on the name to $143 from $116 and kept a Buy rating on the shares. WHAT'S NOTABLE: On August 10, research firm Stifel raised its price target on Netflix to $143 from $128, saying that the company's U.S. subscriber base can reach 80M by 2024, above the midpoint of its guidance. PRICE ACTION: In mid-morning trading, Netflix fell 1% to $122.
10:20 EDTTMUSBig telecom firms put M&A on hold, CTFN reports
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08:17 EDTTMUST-Mobile should be bought at current levels, says Pacific Crest
After conducting checks, Pacific Crest says that T-Mobile's sales remain high, while its decision to cut back on discounts on unlimited plans should boost its ARPU. The firm continues to identify the stock as its top pick in the sector and keeps an Overweight rating on the shares.
06:01 EDTTMUSNetflix price target raised to $143 from $116 at UBS
UBS analyst Doug Mitchelson raised his price target for Netflix (NFLX) shares to $143 after increasing his longer term revenue assumptions. The streaming service closed yesterday down $1.31 to $124.05. Mitchelson upped his 2020-2026 revenue estimates to reflect his belief that Netflix will successfully monetize its streaming platform beyond just monthly subscription fees, such as bundling and promoting third party services. He has increased confidence in the company's U.S. growth outlook after T-Mobile (TMUS) just launched a promotion for its wireless service that included one free year of Netflix. As competition among broadband providers intensifies, Netflix's inexpensive monthly streaming service could become one of the standard promotional tools, Mitchelson tells investors in a research note. The analyst's "upside case" for Netflix shares is $199 while his "downside case" is $55. The downside case assumes Hollywood starts restricting content licensing to streaming services like Netflix in attempt to slow their growth. Mitchelson keeps a Buy rating on Netflix.
August 18, 2015
13:33 EDTTMUSOn The Fly: Top stock stories at midday
Repeating yesterday's start, the market began the session in negative territory before recapturing those losses. Early weakness was attributed to a dip in Wal-Mart (WMT) shares after the company's earnings report as well as a selloff in the Chinese market overnight. Heading into the afternoon, the market has drifted back across the flat line, with all three indices negative despite July's housing starts showing the strongest reading in eight years. ECONOMIC EVENTS: In the U.S., housing starts edged up 0.2% in July to 1.206M, outpacing consensus estimates for 1.180M in the best reading since October 2007. Building permits fell 16.3% to 1.119M against expectations for 1.230M from a revised 1.337M in June, while single family starts rose 12.8% and multifamily numbers fell 17.0%. In Europe, Eurozone parliaments are set to vote on Greece's prospective bailout deal this week, with Reuters reporting earlier today that the Austrian parliament has approved the EUR86B agreement. COMPANY NEWS: Shares of National Penn (NPBC) rose nearly 17% to $12.77 after BB&T (BBT) agreed to acquire the company in a $1.8B cash and stock deal. On a conference call discussing the acquisition, BB&T CEO Kelly King called the "very, very synergistic" deal a "compelling use of capital," adding that the company expects to consolidate about 25 branches to help drive annual cost savings of $65M... Wal-Mart (WMT) fell roughly 3.2% to near $69.50 after cutting its full year earnings outlook this morning, with CFO Charles Holley noting that operating profit will see continued pressure. Meanwhile, Home Depot (HD) and Dicks Sporting Goods (DKS) saw respective gains of about 2.3% and 1.8% after their pre-market earnings reports. MAJOR MOVERS: Among the notable gainers was Omeros (OMER), surging more than 69% to $24.58 after releasing positive preliminary data on its Phase 2 trial of OMS721 for the treatment of organ blood clots. Also higher was Inteliquent (IQNT), rising about 19% to $21.24 after announcing a three-year agreement with T-Mobile (TMUS) to provide IP voice services for the carrier. Separately, Lumber Liquidators (LL) has gained almost 5.7% to nearly $15 in afternoon trading after announcing the appointment of Jill Witter as Chief Compliance and Legal Officer. Among the noteworthy losers was Esperion (ESPR), falling over 11% despite rising 5% in pre-market trading after reporting that the ETC-1002 Phase 3 program is on track, adding that the FDA will not require a cardiovascular outcomes trial prior to the drug's potential approval. Also lower was American Apparel (APP), slipping about 1.9% after disclosing "substantial doubt" about its ability to sustain operations during the coming year. INDEXES: Near midday, the Dow was down 40.37, or 0.23%, to 17,504.81, the Nasdaq lost 26.86, or 0.53%, to 5,064.96, and the S&P 500 was lower by 6.02, or 0.29%, to 2,096.41.
11:34 EDTTMUSSprint rises on plans to abandon two-year contracts
Sprint shares are higher this morning after the company's chief executive officer said that the carrier plans to move away from two-year contracts. WHAT'S NEW: In an interview with The Wall Street Journal, Sprint CEO Marcelo Claure said that the company will stop offering two-year contracts by the end of 2015 in favor of a "smartphone lease" model. Sprint began offering a lease option last year, The Journal noted, and Claure said the carrier is planning to move entirely to that model by the end of the year. As part of its shift, Sprint yesterday unveiled iPhone Forever, a new leasing plan that starts at $22 per month for an iPhone. WHAT'S NOTABLE: In a similar move earlier this month, Sprint rival Verizon (VZ) said it would drop phone subsidies and two-year contracts for new customers. T-Mobile (TMUS), another market rival, abandoned contracts over two years ago, leaving AT&T (T) as the only major U.S. carrier still offering to subsidize new smartphone purchases. Separately, Softbank (SFTBF), Sprint's primary stakeholder, disclosed last week that it increased its holdings in the company to approximately 80%, though the company said it does not plan for its stake in the carrier to exceed 85%. Meanwhile, a study released Tuesday by RootMetrics, an independent company that evaluates wireless networks, shows that Sprint is improving its network, having solidified third place nationally in overall performance, surpassing T-Mobile for the second consecutive six-month stretch. PRICE ACTION: Sprint is up 7c, or 1.52%, to $4.67 in morning trading.
10:00 EDTCCOOn The Fly: Analyst Downgrade Summary
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07:05 EDTCCOOUTFRONT Media downgraded to Market Perform from Outperform at Wells Fargo
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07:04 EDTCCOClear Channel Outdoor downgraded to Market Perform at Wells Fargo
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05:52 EDTWYStocks with implied volatility movement; CVX WY
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05:37 EDTHIMXHimax to start shipping for HiSIT TDDI solution by Q4
Himax announced design-ins with key panel makers and OEMs for its best-in-class single-chip touch and display driver integration solution, HiSIT. In addition to the existing shipment of out-cell and on-cell solutions, Himax's "HiSIT" TDDI solution is ready for mass production and is expected to start shipping by the fourth quarter of 2015.
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