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Stock Market & Financial Investment News

News Breaks
March 24, 2014
10:01 EDTYELP, PTEN, LPL, WFC, USB, STAA, AXLL, BSMX, BSX, EVER, VMW, SYMC, FBNC, FIBK, ACHN, ROST, YZC, UAL, SSYS, BBDOn The Fly: Analyst Upgrade Summary
Axiall (AXLL) upgraded to Buy from Neutral at BofA/Merrill... Banco Bradesco (BBD) upgraded to Outperform from Neutral at Credit Suisse... First Bancorp (FBNC) upgraded to Outperform from Market Perform at Raymond James... STAAR Surgical (STAA) upgraded to Outperform from Market Perform at William Blair... Stratasys (SSYS) upgraded to Overweight from Neutral at JPMorgan... Symantec (SYMC) upgraded to Outperform from Market Perform at BMO Capital... U.S. Bancorp (USB) upgraded to Neutral from Underweight at Atlantic Equities... United Continental (UAL) upgraded to Outperform from Market Perform at Raymond James... VMware (VMW) upgraded to Buy from Neutral at Sterne Agee... Wells Fargo (WFC) upgraded to Neutral from Underweight at Atlantic Equities... Yanzhou Coal (YZC) upgraded to Neutral from Underperform at Credit Suisse... EverBank Financial (EVER) upgraded at Sterne Agee... LG Display (LPL) upgraded to Buy from Neutral at Nomura... Ross Stores (ROST) upgraded at RBC Capital... Boston Scientific (BSX) upgraded at Bernstein... Achillion (ACHN) upgraded to Buy from Hold at Maxim... Patterson-UTI Energy (PTEN) upgraded to Overweight from Equal Weight at Stephens... Santander Mexico (BSMX) upgraded to Buy from Neutral at UBS... Yelp (YELP) upgraded to Outperform from Market Perform at JMP Securities... First Interstate (FIBK) upgraded to Buy from Neutral at Sterne Agee.
News For AXLL;BBD;FBNC;STAA;SSYS;SYMC;USB;UAL;VMW;WFC;YZC;EVER;LPL;ROST;BSX;PTEN;ACHN;BSMX;YELP;FIBK From The Last 14 Days
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January 26, 2016
17:18 EDTVMWVMware sees continued weakness in China, Russia and Brazil
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17:12 EDTVMWVMware sees 2016 total bookings, license bookings to exceed revenue growth
In its Q4 slides presentation the company said for 2016 expect total bookings and license bookings to exceed revenue growth by 3-5% points.
16:37 EDTUALAltimeter Capital reports 3.1% stake in United Continental, will continue talks
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16:26 EDTWFCWells Fargo rises in extended session after boosting buybacks
Shares are up over 1.2% to $48.84. At that price next resistance is at $49.46. Support is at $48.26, the closing price of the session.
16:24 EDTVMWVMware appoints Zane Rowe as CFO
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16:23 EDTWFCWells Fargo increases common stock repurchase authority by 350M shares
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16:21 EDTVMWVMware moves up
After results, the shares are up over 4.8% in the extended session to $51.69. At that price resistance is at $52.88. Support is at $50.39.
16:18 EDTVMWVMware to take charge on restructuring, announces new CFO
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16:16 EDTVMWVMware reports Q4 EPS $1.26, consensus $1.25
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15:20 EDTVMWEarnings Watch: EMC reports as questions linger on Dell deal
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14:32 EDTVMWNotable companies reporting after market close
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13:45 EDTSSYSStratasys falls after JPMorgan cuts on rising competition, lack of catalysts
Shares of Stratasys (SSYS) are falling after JPMorgan downgraded the company to Neutral, saying the 3D printer maker's financials could be pressured as clients curb spending and new competitors enter the space. NO CATALYSTS: Stratasys could see shrinking revenue and earnings through mid-2016 as strong competitors flood the low-end of the market and corporate clients rethink spending on the new technology, JPMorgan analyst Paul Coster argued Tuesday. Capital outlays remain muted across energy, industrials and manufacturing firms while medical device trends have also shown recent weakness, said Coster, leading him to downgrade Stratasys shares to Neutral and cut his price target to $19 from $24 on a lack of any significant catalysts for the next six months. The analyst also trimmed his outlook for 2016 earnings per share to 22c, though he sees 2017 EPS at 95c, with the above-consensus view reflecting the potential for Stratasys to benefit from cyclical demand recovery and restructuring efforts. PRICE ACTION: Shares of Stratasys have slipped roughly 4.6% to $16 while competitors 3D Systems (DDD) and ExOne (XONE) are up 5.4% and 4.5%, respectively.
13:13 EDTYELPYelp spike attributed to takeover speculation
An early afternoon spike in shares of Yelp (YELP) is being attributed to takeover speculation. A rumor has Priceline (PCLN) interested in a potential acquisition of Yelp, trading sources tell The Fly. Shares of Yelp are up 68c to $22.34 in early afternoon trading after earlier spiking as high as $22.87. The Fly, in fulfilling its mission of explaining stock movement, often comes across the many unconfirmed rumors being passed through trading desks and social media platforms. On the occasion that rumors or speculation appear on The Fly's news feed, it should be viewed not as giving credence to the conjecture, rather as simply highlighting its impact on the stock prices of the companies involved.
13:13 EDTYELPYelp January weekly calls active
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12:16 EDTSSYSOn The Fly: Top stock stories at midday
Stocks began the session in positive territory moved cautiously in the opening segment, before shooting higher following the better than expected consumer confidence reading. The Dow is the biggest winner and is up more than 1.5% while the Nasdaq has been lagging but is up more than 0.6%. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: The volume of earnings reports took a step up, with four members of the bluechip Dow Jones Industrial Average posting results before the opening bell this morning. All four advanced on the heels of their reports, with 3M (MMM) leading the pack with a gain of 4.5% despite earnings, excluding restructuring charges, that missed the consensus forecast. The industrial conglomerate did, however, affirm its performance expectations for the new fiscal year. Meanwhile, Johnson & Johnson (JNJ) rose 3%, Procter & Gamble (PG) gained 2.7% and DuPont (DD) added 1.6%... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over next two years and announcing that it has agreed to sell AIG Advisor Group to private equity firm Lightyear Capital and Canadian pension investment manager PSP Investments. AIG also said it will pursue an initial public offering of United Guaranty in mid-2016 to sell up to 19.9% of the outstanding shares as a first step towards a full separation. However, the insurer said it believes a full breakup, as espoused by investor Carl Icahn, would detract from shareholder value, arguing that a lack of diversification benefits would reduce capital available for distribution and there would be a loss of tax benefits. MAJOR MOVERS: Among the notable gainers was Avis Budget (CAR), which rallied 7% after the company raised its share repurchase authorization by $300M and after SRS Investment reported a 9.5% stake in the company. Also higher were Sprint (S) and Coach (COH), which gained 20% and 11%, respectively, after reporting quarterly earnings. In addition, FirstMerit (FMER) rose 16% after reporting quarterly earnings and announcing that it will merge with Huntington Bancshares (HBAN) in a deal valued at $3.4B. Huntington Bancshares fell 10% after the FirstMerit merger agreement was announced. Also lower was Stratasys (SSYS), which dropped 6% after JPMorgan downgraded the shares to Neutral from Overweight. In addition, Polaris (PII) and Waters Corporation (WAT) were down 11% and 4.5%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 273.66, or 1.72%, to 16,158.88, the Nasdaq was up 49.20, or 1.09%, to 4,567.69, and the S&P 500 was up 25.96, or 1.38%, to 1,903.04.
10:00 EDTSSYSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Amec Foster Wheeler (AMFW) downgraded to Hold from Buy at HSBC... CVR Refining (CVRR) downgraded to Sell from Neutral at Goldman... Cenovus Energy (CVE) downgraded to Neutral from Buy at UBS... Clean Harbors (CLH) downgraded to Underperform from Market Perform at Raymond James... Core Laboratories (CLB) downgraded to Reduce from Hold at HSBC... Delek US (DK) downgraded to Neutral from Buy at Goldman... Deutsche Post (DPSGY) downgraded to Underperform from Outperform at Credit Suisse... Disney (DIS) downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities... Dorian LPG (LPG) downgraded to Market Perform from Outperform at Wells Fargo... Encana (ECA) downgraded to Neutral from Buy at UBS... Fortinet (FTNT) downgraded to Hold from Buy at Deutsche Bank... Fortune Brands (FBHS) downgraded to Neutral from Outperform at Credit Suisse... General Growth (GGP) downgraded to Equal Weight from Overweight at Barclays... Golden Ocean (GOGL) downgraded to Underweight from Neutral at JPMorgan... Grupo Mexico (GMBXF) downgraded to Neutral from Overweight at JPMorgan... Halliburton (HAL) downgraded to Hold from Buy at HSBC... Marketo (MKTO) downgraded to Underperform at BofA/Merrill... Navios Maritime (NM) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Underperform at BofA/Merrill... OM Asset Management (OMAM) downgraded to Equal Weight at Morgan Stanley... Paylocity (PCTY) downgraded to Underperform from Neutral at BofA/Merrill... Pennsylvania REIT (PEI) downgraded to Underweight from Equal Weight at Barclays... Pinnacle West (PNW) downgraded to Hold from Buy at Evercore ISI... Public Storage (PSA) downgraded to Equal Weight from Overweight at Barclays... Red Hat (RHT) downgraded to Neutral from Buy at BofA/Merrill... Regal Entertainment (RGC) downgraded on valuation at RBC Capital... Rouse Properties (RSE) downgraded to Equal Weight from Overweight at Barclays... Star Bulk Carriers (SBLK) downgraded to Neutral from Overweight at JPMorgan... Stratasys (SSYS) downgraded to Neutral from Overweight at JPMorgan... Subsea 7 (SUBCY) downgraded to Reduce from Hold at HSBC... US Ecology (ECOL) downgraded to Market Perform from Outperform at Raymond James... USG (USG) downgraded to Underperform from Neutral at Credit Suisse... Vornado (VNO) downgraded to Equal Weight from Overweight at Barclays... Weir Group (WEIGY) downgraded to Underperform from Hold at Jefferies.
09:15 EDTSSYSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Sprint (S), up 19.5%... Rambus (RMBS), up 8%... Freeport-McMoRan (FCX), up 11.3%... Sanmina (SANM), up 9.9%... Coach (COH), up 4.9%. ALSO HIGHER: Firstmerit (FMER), up 21.5% following the merger announcement with Huntington Bancshares (HBAN). DOWN AFTER EARNINGS: Polaris (PII), down 4.2%. ALSO LOWER: Huntington Bancshares, down 6.8% after announcing a merger with Firstmerit. Stratasys (SSYS), down 3.7% after being downgraded to Neutral from Overweight at JPMorgan.
08:13 EDTVMWVMware expected layoffs hit Monday, Fortune reports
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06:00 EDTVMWEU to decide on Dell, EMC deal by February 29, Reuters reports
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05:52 EDTSSYSStratasys downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Paul Coster downgraded Stratasys to Neutral citing risk that revenue and earnings disappoint through mid-2016. Coster highlights the "rapid influx of competing solutions" at the low-end of the 3D printing market. He cut his price target for the shares to $19 from $24. The analyst sees a lack of catalysts for Stratasys shares over the next six months. The maker of 3-D printers closes yesterday down $1.04 to $16.81.
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