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Stock Market & Financial Investment News

News Breaks
December 19, 2012
10:10 EDTWFC, SWHC, PDCE, GTAT, CP, AXP, USB, SD, KB, CPWR, BJRI, SYMM, PFG, HRB, CB, BBTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Express (AXP) downgraded to Equal Weight from Overweight at Evercore... BB&T (BBT) downgraded to Equal Weight from Overweight at Morgan Stanley... BJ's Restaurants (BJRI) downgraded to Neutral from Outperform at Wedbush... Canadian Pacific (CP) downgraded to Sector Perform from Outperform at Scotia Capital... Chubb (CB) downgraded to Equal Weight from Overweight at Morgan Stanley... Compuware (CPWR) downgraded to Market Perform from Outperform at Northland Securities... GT Advanced (GTAT) downgraded to Neutral from Overweight at Piper Jaffray... H&R Block (HRB) downgraded to Neutral from Buy at Compass Point... KB Financial Group (KB) downgraded to Neutral from Buy at UBS... PDC Energy (PDCE) downgraded to Hold from Buy at Canaccord... Principal Financial (PFG) downgraded to Underweight from Equal Weight at Evercore... SandRidge Energy (SD) downgraded to Neutral from Buy at Citigroup... Smith & Wesson (SWHC) downgraded to Neutral from Outperform at Cowen... Symmetricom (SYMM) downgraded to Neutral from Buy at B. Riley... U.S. Bancorp (USB) downgraded to Equal Weight from Overweight at Morgan Stanley... Wells Fargo (WFC) downgraded to Equal Weight from Overweight at Evercore.
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April 9, 2014
06:35 EDTWFC, USBRegulators increase leverage ratio requirement for large banks, NY Times says
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06:27 EDTUSB, WFCBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
April 8, 2014
17:51 EDTCBNew York regulator issues subpoenas to insurers on Iran, WSJ says
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April 7, 2014
19:57 EDTUSB, WFCFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
08:16 EDTGTATGT Advanced announces $58.6M specialty furnace orders
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07:43 EDTSDIndependent Petroleum Association of America to hold a conference
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April 4, 2014
07:18 EDTWFCWells Fargo April volatility elevated at 19 into Q1 and outlook
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April 3, 2014
10:00 EDTUSB, BBTOn The Fly: Analyst Downgrade Summary
BB&T (BBT) downgraded to Outperform from Strong Buy at Raymond James... Broadcom (BRCM) downgraded to Neutral from Overweight at Piper Jaffray... CF Industries (CF) downgraded to Neutral from Buy at Citigroup... CSX (CSX) downgraded to Equalweight from Overweight at Barclays... Cheniere Energy (LNG) downgraded to Neutral from Outperform at Credit Suisse... Citigroup (C) downgraded to Neutral from Buy at Sterne Agee... Deutsche Bank (DB) downgraded to Neutral from Overweight at JPMorgan... G&K Services (GK) downgraded to Neutral from Outperform at RW Baird... Marcus (MCS) downgraded to Neutral from Buy at B. Riley... National Retail Properties (NNN) downgraded to Sell from Neutral at UBS... Norfolk Southern (NSC) downgraded to Neutral from Overweight at Atlantic Equities... Orion Energy (OESX) downgraded to Hold from Buy at Ascendiant... VIVUS (VVUS) downgraded to Underweight from Neutral at Piper Jaffray... Liquidity Services (LQDT) downgraded to Neutral from Outperform at RW Baird... Shaw Communications (SJR) downgraded to Sector Performer from Outperformer at CIBC... USG (USG) downgraded to Neutral from Outperform at Macquarie... Level 3 (LVLT) downgraded to Hold from Buy at Gabelli... U.S. Bancorp (USB) downgraded to Neutral from Conviction Buy at Goldman... Extra Space Storage (EXR) downgraded to Buy from Conviction Buy at Goldman... First Republic Bank (FRC) downgraded to Buy from Conviction Buy at Goldman... TELUS (TU) downgraded to Neutral from Outperform at Macquarie.
08:49 EDTBBTBB&T downgraded to Outperform from Strong Buy at Raymond James
Raymond James downgraded BB&T to Outperform from Strong Buy based on a modest estimate reduction and valuation.
07:45 EDTUSBU.S. Bancorp downgraded to Neutral from Conviction Buy at Goldman
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06:32 EDTBBTBB&T downgraded to Outperform from Strong Buy at Raymond James
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April 2, 2014
16:24 EDTPDCESAC Capital lowers passive stake in PDC Energy to less than 0.1% from 5.1%
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12:48 EDTGTATGT Advanced rallies after Goldman raises price target
Shares of GT Advanced Technologies (GTAT) - which makes sapphire products and solar energy equipment - are climbing after Goldman Sachs raised its price target on the stock in a note to investors earlier today. WHAT'S NEW: Goldman Sachs analyst Brian Lee raised his 2015 and 2016 earnings per share estimates for GT Advanced, as he is more upbeat about the outlook for the company's equipment business. GT Advanced's deal to supply sapphire for upcoming Apple (AAPL) devices is worth $15 per share for GT if the deal goes as expected, and up to $25 if the deal exceeds expectations, contended Lee. The analyst raised his price target on the stock to $24 from $20 and kept a Buy rating on the shares. OTHERS TO WATCH: Rubicon Technology (RBCN) also makes sapphire. That stock was upgraded to Overweight from Neutral in a note to investors from JPMorgan yesterday. JPMorgan expected Rubicon to benefit from a pick-up in demand for LEDs and sapphire covers. The stock surged yesterday in the wake of the upgrade. PRICE ACTION: In early afternoon trading, GT Advanced climbed $1.13, or 6.5%, to $18.51, while Rubicon fell 2.8% to $12.62.
10:00 EDTUSBOn The Fly: Analyst Downgrade Summary
ArcelorMittal (MT) downgraded to Neutral from Outperform at Credit Suisse... Essex Property Trust (ESS) downgraded to Neutral from Buy at Goldman... Healthstream (HSTM) downgraded to Market Perform from Outperform at Northland... Imperial Oil (IMO) downgraded to Underperform from Neutral at BofA/Merrill... Nordion (NDZ) downgraded to Hold from Buy at Canaccord... The Medicines Co. (MDCO) downgraded to Neutral from Overweight at Piper Jaffray... U.S. Bancorp (USB) downgraded to Hold from Buy at Sandler O'Neill... Old National Bancorp (ONB) downgraded to Hold from Buy at Sandler O'Neill... Edison International (EIX) downgraded to Hold from Buy at Argus.
09:27 EDTUSBU.S. Bancorp downgraded to Hold from Buy at Sandler O'Neill
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08:57 EDTGTATGT Advanced price target raised to $24 from $20 at Goldman
Goldman believes GT Advanced's Apple opportunity continues to build momentum but believes core equipment is underappreciated and is incrementally more positive on its ability to monetize new equipment technology. Shares are Buy rated with a $24 price target raised from $20.
08:37 EDTWFCWells Fargo to hold a summit
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06:22 EDTWFCBank overdraft fees hitting highs, WSJ reports
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06:11 EDTPDCELilis Energy updates Wattenberg horizontal drilling program
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05:08 EDTCPCanadian Pacific COO addresses Agriculture Committee hearing on Bill C-30
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