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Stock Market & Financial Investment News

News Breaks
June 12, 2014
10:07 EDTLULU, STO, VALE, LEAF, THRX, SFUN, DLAKY, DTV, CEVA, AFLYY, RRMS, HIMX, CPSI, BRGYY, AXS, MONT, HA, CHSP, AAUKYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AXIS Capital (AXS) downgraded to Sell from Neutral at Goldman... Air France-KLM (AFLYY) downgraded to Underperform from Hold at Jefferies... Anglo American (AAUKY) downgraded to Underweight from Equal Weight at Morgan Stanley... Associated Estates (aec) downgraded to Sell from Neutral at Citigroup... BG Group (BRGYY) downgraded to Neutral from Buy at Nomura... CEVA (CEVA) downgraded to Sell from Neutral at Chardan... Chesapeake Lodging (CHSP) downgraded to Market Perform from Outperform at FBR Capital... Computer Programs (CPSI) downgraded to Underweight from Hold at KeyBanc... DirecTV (DTV) downgraded to Neutral from Outperform at Macquarie... Hawaiian Holdings (HA) downgraded to In-Line from Outperform at Imperial Capital... Himax (HIMX) downgraded to Hold from Buy at Craig-Hallum... Lufthansa (DLAKY) downgraded to Hold from Buy at Jefferies... Montage Technology (MONT) downgraded to Hold from Buy at Needham... Rose Rock Midstream (RRMS) downgraded to Neutral from Outperform at RW Baird... SouFun (SFUN) downgraded to Hold from Buy at Deutsche Bank... Springleaf (LEAF) downgraded at Sterne Agee... Statoil (STO) downgraded to Hold from Buy at Deutsche Bank... Theravance (THRX) downgraded at Stifel... Vale (VALE) downgraded at Morgan Stanley... lululemon (LULU) downgraded to Hold from Buy at Stifel.
News For AXS;AFLYY;AAUKY;BRGYY;CEVA;CHSP;CPSI;DTV;HA;HIMX;DLAKY;MONT;RRMS;SFUN;LEAF;STO;THRX;VALE;LULU From The Last 14 Days
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August 31, 2015
09:54 EDTAAUKYBofa/Merrill analysts hold an analyst/industry conference call
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09:39 EDTDLAKYBoyd Group International to hold a summit
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06:32 EDTVALESouthern Copper downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Rodolfo Angele downgraded Southern Copper (SCCO) to Neutral after the firm cut its nickel and copper price estimates to reflect soft demand in China and a lack of rebound in Western European and North American demand. Angele cut his price target for shares to $31.50 from $37. He also lower his price target for Vale (VALE) to $5.50 from $7.50 and kept a Neutral rating on the name.
August 28, 2015
10:02 EDTHIMXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADP (ADP) upgraded to Outperform from Market Perform at William Blair... ASML (ASML) upgraded to Buy from Hold at Berenberg... Abercrombie & Fitch (ANF) upgraded on Hollister fundamentals at RBC Capital... Akamai (AKAM) upgraded to Outperform from Market Perform at JMP Securities... Ares Capital (ARCC) upgraded to Outperform from Market Perform at Raymond James... Banco Santander (SAN) upgraded on valuation at Deutsche Bank... CIBC (CM) upgraded to Neutral from Underperform at Credit Suisse... Canon (CAJ) upgraded to Hold from Sell at Deutsche Bank... Citi (C) upgraded to Buy from Neutral at Guggenheim... Ctrip.com (CTRP) upgraded to Buy from Hold at Stifel... El Pollo Loco (LOCO) upgraded at Stifel... Genomic Health (GHDX) upgraded to Market Perform from Underperform at Raymond James... Golar LNG (GLNG) upgraded on valuation, upcoming project completion at Stifel... Habit Restaurants (HABT) upgraded to Buy from Hold at Stifel... Helmerich & Payne (HP) upgraded to Overweight from Equal Weight at Stephens... Himax (HIMX) upgraded to Outperform from Neutral at Credit Suisse... Huntington Bancshares (HBAN) upgraded to Buy from Neutral at Guggenheim... InterContinental (IHG) upgraded to Outperform from Neutral at Credit Suisse... Knight Transportation (KNX) upgraded to Strong Buy on valuation at Raymond James... LogMeln (LOGM) upgraded to Overweight from Sector Weight at Pacific Crest... Patterson Companies (PDCO) upgraded to Overweight from Neutral at Piper Jaffray... Qunar (QUNR) upgraded on valuation, positive catalysts at Stifel... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ryder (R) upgraded to Strong Buy from Outperform at Raymond James... SVB Financial (SIVB) upgraded to Buy from Neutral at DA Davidson... Seagate (STX) upgraded to Buy from Hold at Cross Research... Sinopec (SNP) upgraded to Neutral from Sell at Citi... Summit Hotel Properties (INN) upgraded to Outperform at Baird... Texas Capital (TCBI) upgraded to Buy from Neutral at DA Davidson... The Medicines Co. (MDCO) upgraded to Buy from Hold at Jefferies... U.S. Bancorp (USB) upgraded to Buy from Neutral at Guggenheim... Weatherford (WFT) upgraded to Overweight from Equal Weight at Stephens.
09:32 EDTHIMXHimax upgraded to Outperform from Neutral at Credit Suisse
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07:12 EDTLULUWilliam Blair names 21 stocks best positioned for volatile markets
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August 27, 2015
16:17 EDTSFUNOZ Management reports 5.09% passive stake in SouFun
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10:33 EDTVALEFreeport McMoRan surges after further cut to capital spending plans
Shares of Freeport-McMoRan (FCX) are surging in morning trading after the company announced plans to cut spending and production in response to current market conditions. It also plans to cut about 10% of employees and contractors at U.S. mining operations. WHAT'S NEW: Freeport-McMoRan this morning reduced its 2016 capital expenditure budget to $4B, approximately 29% lower than the $5.6B estimate on July 23, which it said reflects "aggressive" actions in response to current market conditions. The 2016 CapEx outlook includes $1.4B in mining projects, $600M in mining sustaining capital and $2B in oil and gas expenditures. The company said it will reduce copper sales by about 150M pounds per year in 2016 and 2017 and cut 2016 unit site production by 20%. Additionally, the company plans to reduce 2016 minerals exploration costs to $50M from $100M. Freeport also said it expects a 10% reduction in employees and contractors at U.S. mining operations. The company cited recent declines in copper prices for the reductions and said the actions announced today are the results of the previously announced review of operating plans for its mining business. Freeport said it views the long-term outlook for its business "positively," helped by limitations on copper supply. In the near-term, however, Freeport said it will continue to monitor market conditions and capital spending, but is currently "adjusting operations to maximize current cash flow under weak market conditions while preserving its large mineral resources and growth options for the longer term." WHAT'S NOTABLE: Since late 2014, Freeport has cut its 2015 capital expenditure budget to $6.3B from $7.5B, including reductions of $700M in oil and gas expenditures and $500M in mining expenditures. Earlier this month, Freeport cuts its oil and gas capital budgets for 2016 and 2017 by $900M each in response to market conditions and maintained its expectations for $2.8B in O&G CapEx for this year. In July, after reporting its second straight quarterly loss, Freeport said its cost reduction plans would include potential adjustments to mine plans and future copper and molybdenum production volumes to reduce costs and preserve valuable resources for anticipated improved market conditions in the future. Freeport previously commented that it would pursue additional capital cost reductions, potential additional divestitures or monetizations and other actions as required to maintain a strong balance sheet while preserving a strong resource position. PRICE ACTION: Freeport-McMoRan is up 16.5% to $9.22 in morning trading. Shares are down over 60% year to date. OTHERS TO WATCH: Other major integrated mining companies include Rio Tinto (RIO), BHP Billiton (BHP) and Vale S.A. (VALE).
07:57 EDTSTOPlatts to hold a conference
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07:56 EDTLULULululemon September weekly volatility elevated into Q2 and outlook
Lululemon 9/11/15 weekly call option implied volatility is at 66, September is at 61, October is at 48; compared to its 52-week range of 25 to 63, suggesting large near term price movement into the expected release of Q2 results on September 10.
07:52 EDTLULUBarclays would be a buyer of lululemon into the Q2 report
Barclays analyst Matt McClintock believes lululemon will report meaningful upside to his 7.7% total comp estimate when it reports Q2 earnings on September 10. Channel checks suggest a strong consumer response to new tops introduced in Q2 with stock outs above 50%, promising Google search activity, and momentum in men's. McClintock believes his earnings estimates will prove conservative and is a buyer into the report. Barclays' rates lululemon an Overweight with an $85 price target on shares.
August 26, 2015
12:47 EDTBRGYYOn The Fly: Top stock stories at midday
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10:57 EDTBRGYYEuropean oilfield service names boosted by M&A speculation, says JPMorgan
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09:33 EDTVALEActive equity options trading on open
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August 24, 2015
08:18 EDTCEVACEVA management to meet with Canaccord
Meeting to be held in the Midwest on August 31 hosted by Canaccord.
August 21, 2015
10:02 EDTDLAKYOn The Fly: Analyst Downgrade Summary
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06:03 EDTAFLYYAir France-KLM to grow French, Dutch budget carriers, WSJ reports
Air France-KLM is set to grow its existing French and Dutch budget carriers to counter rising low-cost competition in Europe, The Wall Street Journal reports, citing comments made in an interview by Air France-KLM's low-cost airline says Transavia's CEO, Matthijs ten Brink.Reference Link
August 20, 2015
17:32 EDTDLAKYLufthansa downgraded to Sell from Neutral at Goldman
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09:22 EDTCEVACEVA management to meet with Benchmark Co
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August 19, 2015
06:26 EDTAXSAXIS Capital enters into accelerated share repurchase program for $300M
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