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Stock Market & Financial Investment News

News Breaks
January 8, 2013
10:25 EDTAXP, AXP, AXP, COF, COF, COF, DFS, DFS, DFS, MA, MA, MA, V, V, VCitigroup's payment processors research team holds a conference call
Payments Processors Analyst Research Team, along with Felix Marx, CEO of mobile wallet technology Provider C-SAM, discuss their report, Card Payments Outlook for 2013, on an Analyst/Industry conference call. Relevant covered companies American Express, Capital One Financial, Discover Financial Services, Mastercard and Visa may be included on the Analyst/Industry conference call to be held on January 11 at 11 am.
News For AXP;COF;DFS;MA;V From The Last 14 Days
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January 27, 2016
09:12 EDTCOFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Biogen (BIIB), up 5.6%... Hawaiian Holdings (HA), up 6.7%... Capital One (COF), up 1.5%. ALSO HIGHER: Capnia (CAPN), up 34.1% after entering into an exclusive distribution agreement with Bemes... Fate Therapeutics (FATE), up 18.6% after announcing that the FDA has cleared the company's investigational new drug application for ProTmune... Raptor Pharmaceutical (RPTP), up 12.1% after being upgraded to Buy from Neutral at Citi... Aquinox (AQXP), up 5.6% after Baker Bros. buys 140,786 shares in the company... Sunedison (SUNE), up 7.4% after SunEdison and Greenlight Capital announced that they have mutually agreed to corporate governance initiatives... Citizens Financial Group (CFG), up 3% after it will be added to the S&P 500... Terex (TEX), up 5.2% after being upgraded to Neutral from Underweight at JPMorgan. DOWN AFTER EARNINGS: Tupperware Brands (TUP), down 11.4%... VMware (VMW), down 6.5%... Textron (TXT), down 9.9%... Cliffs Natural (CLF), down 5.8%... Boeing (BA), down 6.2%... Fiat Chrysler (FCAU), down 3%... Apple (AAPL), down 3.4%. ALSO LOWER: Priceline (PCLN), down 2.9% after being downgraded to Neutral from Buy at Goldman... Bed Bath & Beyond (BBBY), down 4.2% after being downgraded at Citi and KeyBanc... Tripadvisor (TRIP), down 5.5% after being downgraded to Sell from Neutral at Goldman.
05:08 EDTAXPStocks with implied volatility below IV index mean; AXP GLNG
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January 26, 2016
19:26 EDTCOFOn The Fly: After Hours Movers
UP AFTER EARNINGS: CA Technologies (CA), up 4.8%... Ethan Allen (ETH), up 10.6%... Hawaiian Holdings (HA), up 5.7%... Capital One (COF), up 1.1%. ALSO HIGHER: Fate Therapeutics (FATE), up 25% after announcing that the FDA has cleared the company's investigational new drug application for ProTmune... Raptor Pharmaceutical (RPTP), up 6.6% after being upgraded to Buy from Neutral at Citi. DOWN AFTER EARNINGS: U.S. Steel (X), down 9%... AT&T (T), down 1.9%... Apple (AAPL), down 2.6%... VMware (VMW), down 4.7%... TSYS (TSS), down 7.4% after reporting quarterly results and announcing the acquisition of TransFirst for $2.3B in cash. ALSO LOWER: Lannett (LCI), down 9% after giving second quarter and fiscal 2016 guidance... Baxalta (BXLT), down 2% after filing to sell $1.45B of common stock for holders.
16:10 EDTCOFCapital One reports tangible book value per share of $53.65 at end Q4
Period-end loans held for investment in the quarter increased $16.5B, or 8%, to $229.9B. Average loans held for investment in the quarter increased $8.8B, or 4%, to $220.1B. Period-end total deposits increased $4.8B, or 2%, to $217.7B, while average deposits increased $4.9B, or 2% to $215.9B.
16:08 EDTCOFCapital One reports Q4 EPS ex-items $1.67, consensus $1.61
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14:32 EDTCOFNotable companies reporting after market close
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09:02 EDTMAMasterCard says JetBlue to accept digital payments with MasterPass
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08:36 EDTAXPTwitter CEO Dorsey confirms Leslie Berland as CMO
Twitter (TWTR) CEO Jack Dorsey confirmed in a tweet that Leslie Berland, an executive VP at American Express (AXP), will join the company as its new Chief Marketing Officer. Reference Link
07:57 EDTVVisa shares 'becoming increasingly attractive,' says Bernstein
After Visa's stock fell 7% so far this year, Bernstein says the stock "is becoming an increasingly attractive, defensive investment in a bearish market." The firm expects the company's EPS to increase 19% through 2020, and says fears about the impact of macro issues on Visa's EPS growth are overdone. Most of the company's EPS growth will come from business model changes and factors that won't be impacted by the macro performance, the firm stated. It keeps a $90 price target and Outperform rating on the shares.
05:15 EDTAXPStocks with implied volatility below IV index mean; AXP INTC
Stocks with implied volatility below IV index mean; American Express (AXP) 28, Intel (INTC) 27 according to iVolatility.
January 25, 2016
18:31 EDTAXPNegative sentiment on American Express fully priced in, Barron's reports
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14:46 EDTCOFCapital One volatility elevated into Q4 and outlook
Capital One January weekly call option implied volatility is at 75, February is at 41; compared to its 52-week range of 14 to 41, suggesting large near term price movement into the expected release of Q4 results on January 26.
10:00 EDTAXPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
10:00 EDTAXPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Express (AXP) upgraded to Perform from Underperform at Oppenheimer... BankMutual (BKMU) upgraded to Outperform from Market Perform at Hovde Group... Black Hills (BKH) upgraded on acquisition at BMO Capital... Bruker (BRKR) upgraded to Buy from Hold at Cantor... Cedar Fair (FUN) upgraded to Conviction Buy from Buy at Goldman... Charles Schwab (SCHW) upgraded to Buy from Neutral at Nomura... Corporate Office Properties (OFC) upgraded to Buy from Neutral at Mizuho... Entegris (ENTG) upgraded on valuation, outlook at Pacific Crest... First Financial upgraded to Outperform from Market Perform at Keefe Bruyette... Goldman Sachs (GS) upgraded to Buy from Neutral at Nomura... Graphic Packaging (GPK) upgraded to Outperform from Neutral at Macquarie... Home Depot (HD) upgraded to Buy from Hold at Deutsche Bank... Intel (INTC) upgraded to Outperform from Neutral at Macquarie... J.B. Hunt (JBHT) upgraded to Buy from Hold at BB&T... Magna (MGA) upgraded to Buy from Neutral at Citi... Masco (MAS) upgraded to Buy from Hold at Evercore ISI... Mattel (MAT) upgraded to Conviction Buy from Buy at Goldman... O'Reilly Automotive (ORLY) upgraded to Buy from Hold at Deutsche Bank... PACCAR (PCAR) upgraded to Buy from Neutral at Citi... People's United (PBCT) upgraded to Neutral from Underweight at Piper Jaffray... Quality Systems (QSII) upgraded to Overweight from Neutral at Piper Jaffray... RadiSys (RSYS) upgraded to Buy from Hold at Needham... Standard Motor (SMP) upgraded to Buy from Neutral at CL King... Swedbank (SWDBY) upgraded to Hold from Underperform at Jefferies... Toll Brothers (TOL) upgraded to Strong Buy from Outperform at Raymond James... Voyager Therapeutics (VYGR) upgraded to Neutral from Sell at Chardan... Yahoo (YHOO) upgraded to Buy from Hold at Pivotal Research.
08:44 EDTAXPAmerican Express downgraded on weak revenue outlook at Argus
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08:16 EDTAXPAmerican Express downgraded to Hold from Buy at Argus
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06:43 EDTAXP, DFSAmerican Express downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Cheryl Pate downgraded American Express (AXP) to Equal Weight saying double digit earnings growth is pushed out until at least 2018. The company's growth story is "increasingly under pressure" amid an evolving payments landscape, Pate tells investors in a research note. The analyst cut her price target for American Express shares to $64. The stock closed Friday down $7.59 to $55.05 following the company's Q4 earnings miss. Pate sees a better risk/reward for shares of Discover (DFS), her top pick in the credit card space. Oppenheimer analyst Ben Chittenden this morning upgraded American Express to his firm's neutral rating.
06:12 EDTAXPAmerican Express upgraded to Perform from Underperform at Oppenheimer
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05:56 EDTAXPTwitter could name Leslie Berland as new CMO this week, Re/code reports
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January 24, 2016
11:02 EDTAXPStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
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