New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 16, 2014
09:59 EDTAXS, TISA, TST, TROW, IVZ, IBTX, BEN, CIO, CBK, CLMT, BLK, AMG, WLLOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AXIS Capital (AXS) initiated with an Outperform at JMP Securities... Affiliated Managers (AMG) initiated with a Buy at Deutsche Bank... BlackRock (BLK) initiated with a Buy at Deutsche Bank... Calumet Specialty Products (CLMT) initiated with a Buy at Ladenburg... Christopher & Banks (CBK) initiated with a Buy at Buckingham... City Office REIT (CIO) initiated with a Buy at Wunderlich... Franklin Resources (BEN) initiated with a Hold at Deutsche Bank... Independent Bank (IBTX) initiated with a Buy at Sterne Agee... Invesco (IVZ) initiated with a Hold at Deutsche Bank... T. Rowe Price (TROW) initiated with a Buy at Deutsche Bank... TheStreet (TST) initiated with a Buy at B. Riley... Top Image Systems (TISA) initiated with a Buy at Roth Capital... Western Union (WU) initiated with a Sell at Berenberg... Whiting Petroleum (WLL) assumed with a Buy at Brean Capital.
News For AXS;AMG;BLK;CLMT;CBK;CIO;BEN;IBTX;IVZ;TROW;TST;TISA;WLL From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
September 26, 2014
16:18 EDTTROWT. Rowe urges Allergan to drop bid for Salix, has 'growing concern', FT says
T. Rowe Price (TROW), the third largest shareholder of Allergan (AGN), has urged the company to not partake in any acquisitions that would thwart Valeant's (VRX) hostile takeover plan, The Financial Times reports, citing senior business correspondent David Crow. Allergan is currently mulling the possibility of acquiring Salix Pharmaceuticals (SLXP), which may effectively squash Valeant's potential hostile takeover of Allergan. T. Rowe Price said in a statement, "Over the past several months, we have been watching with growing concern the corporate governance practices of the Allergan board. In our view, the issues to be voted on at the special meeting of shareholders on December 18 are of such importance that they impose a special duty on the board to refrain from approving any significant, irreversible commitments by the company between now and then unless shareholders are offered the opportunity to vote on them. We believe this should apply even in the event of all-cash acquisitions that do not ordinarily require a shareholder vote." Reference Link
September 25, 2014
15:17 EDTWLLWhiting Petroleum management to meet with SunTrust
Subscribe for More Information
September 24, 2014
15:04 EDTBLKGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
Subscribe for More Information
07:05 EDTCLMTCalumet Specialty Products management to meet with UBS
Meeting to be held in Toronto on September 24 hosted by UBS.
September 23, 2014
11:38 EDTCBKAscena Retail plummets to 52-week low after results, guidance trail consensus
Shares of Ascena Retail (ASNA), a national specialty retailer of apparel for women and teen girls, are falling after the company's fourth quarter results and fiscal 2015 profit outlook trailed analysts' consensus estimates. WHAT'S NEW: Last night, Ascena Retail reported Q4 adjusted EPS of 13c and revenue of $1.18B, far below analysts' consensus estimates of 18c and $1.21B, respectively. Same store sales for the period declined 2%. Looking ahead, Ascena Retail forecast FY15 adjusted EPS of 90c-$1.00 excluding any acquisition-related, integration and restructuring costs that may be incurred during the fiscal year, significantly trailing the consensus of $1.25. The company sees EPS down compared to last year in the first half, but expects growth in the second half. The company sees flat to modest positive total comparable store growth for the year, with Fall flat to down low-single digits, and Spring up low-single digits. EBITA growth for the year is seen in the mid-to-high single digits, with the EBITDA rate flat to up 20 basis points, with 80-100 basis points of improvement in gross margin rate mostly offset by operating expense rate de-leverage. Ascena also sees a net new store increase of 30-40 units, capital expenditures of $350M-$375M and an effective tax rate of 37% vs. 32% in fiscal year 2014. The company sees FY15 double digit growth in depreciation, with projected expenses between $210M-$215M. The company's guidance is based on an ongoing challenging retail environment. WHAT'S NOTABLE: Ascena President and Chief Executive Officer David Jaffe commented that Q4 EPS was "in line" with expectations, despite mixed results across its portfolio and soft traffic patterns. Jaffe said the company is maintaining a conservative outlook for the Fall season, as the company has "yet to see sustained evidence of market improvement." Ascena also said it plans to increasingly focus on adjusted EBITDA as an indicator of underlying financial performance because it normalizes for major changes in non-cash depreciation and tax rates. ANALYST REACTION: This morning, research firm SunTrust lowered its price target on Ascena Retail to $17 from $21 after the company reported results that were weak across the board. The firm believes that the company is making appropriate changes and seems well-positioned for the future, while its brand integrity is intact across divisions. SunTrust reiterated a Buy rating on shares. Another firm, Oppenheimer, said Ascena's retail strategies should help stem margin pressure. The firm added that the profitability of the company's new brands is rising significantly, while its guidance looks conservative. Oppenheimer cut its price target on the shares to $19 from $22, but kept an Outperform rating on the stock. PRICE ACTION: In late morning trading, Ascena Retail fell $2.69, or 16.24%, to $13.85 on nearly four times its average daily trading volume. Earlier in the session, the stock notched a fresh 52-week low of $13.72. Including today's pull-back, the shares have lost approximately 22% over the past 12 months. OTHERS TO WATCH: Other specialty retailers catering to women include Christopher & Banks (CBK), Chico's FAS (CHS), and Ann Inc. (ANN).
05:22 EDTTISATop Image Systems appoints COO Schrader as CEO, CFO Bentovim to fill COO role
Subscribe for More Information
September 22, 2014
08:51 EDTTROWT. Rowe Price should be owned into Q4, says Bernstein
Subscribe for More Information
07:27 EDTWLLIndependent Petroleum Association of America to hold a conference
IPAA OGIS San Francisco on September 22-24.
September 17, 2014
11:46 EDTTISATop Image Systems management to meet with Roth Capital
Subscribe for More Information
07:39 EDTBLKMorningstar to hold a conference
Management Behind the Moat Conference to be held in Chicago on September 17-18.
07:37 EDTBLKMorningstar to hold a conference
Subscribe for More Information
07:28 EDTIBTXStephens to hold a forum
4th Annual Bank CEO Forum to be held in Little Rock, Arkansas on September 17-18.

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use