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Stock Market & Financial Investment News

News Breaks
September 18, 2013
10:45 EDTVPHM, SKT, RDEN, TDG, PG, CFNL, TWGP, JOY, INTU, CAT, BMRN, NRG, GBL, CLX, AYI, JRCC, EXC, ARQLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Acuity Brands (AYI) downgraded to Neutral from Buy at UBS... ArQule (ARQL) downgraded to Neutral from Buy at Citigroup... BioMarin (BMRN) downgraded to Hold from Buy at Stifel... Caterpillar (CAT) downgraded to Neutral from Outperform at RW Baird... Clorox (CLX) downgraded to Underweight from Equal Weight at Barclays... Exelon (EXC) downgraded to Sector Perform from Outperform at RBC Capital... GAMCO Investors (GBL) downgraded to Underperform from Neutral at BofA/Merrill... Intuit (INTU) downgraded to Underweight from Equal Weight at Morgan Stanley... James River Coal (JRCC) downgraded to Underweight from Hold at BB&T... Joy Global (JOY) downgraded to Neutral from Outperform at RW Baird... NRG Energy (NRG) downgraded to Neutral from Conviction Buy at Goldman... Procter & Gamble (PG) downgraded to Equal Weight from Overweight at Barclays... Tanger Factory (SKT) downgraded to Hold from Buy at Jefferies... Tower Group (TWGP) downgraded to Market Perform from Outperform at FBR Capital... TransDigm (TDG) downgraded to Sector Perform from Outperform at RBC Capital... ViroPharma (VPHM) downgraded to Neutral from Buy at BofA/Merrill... Cardinal Financial (CFNL) downgraded to Neutral at Boenning & Scattergood... Elizabeth Arden (RDEN) downgraded to Neutral from Buy at B. Riley.
News For AYI;BMRN;ARQL;CLX;CAT;EXC;GBL;INTU;JRCC;NRG;JOY;PG;SKT;TWGP;TDG;VPHM;CFNL;RDEN From The Last 14 Days
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November 13, 2014
07:40 EDTPGProcter & Gamble sees clsoing Duracell transaction in 2H15
Following its prior announcement of plans to exit the Duracell business, P&G (PG) said it now plans to execute a split transaction, in which it will exchange a recapitalized Duracell Company for Berkshire Hathaway’s (BRK.A) shares of P&G stock. Berkshire’s stock ownership is currently valued at approximately $4.7 billion. P&G said it expects to contribute approximately $1.8 billion in cash to the Duracell Company in the pre-transaction recapitalization. P&G said the transaction maximizes the after-tax value of the Duracell business and is tax efficient for P&G. The value received for Duracell in the exchange is approximately 7-times fiscal year 2014 adjusted EBITDA. This equates to a cash sale valued at approximately 9-times adjusted EBITDA. As part of the exit of the battery business, P&G announced that it closed the sale of its interest in a China-based battery joint venture earlier in the week. Based on the signing of the contract to exit the Duracell business, P&G will restate Batteries results to discontinued operations effective with the reporting of October-December 2014 quarterly results. The Company expects to restate earnings per share of approximately 12c-14c to discontinued operations for fiscal year 2014. All-in GAAP earnings per share are not affected by the restatements. P&G said it will incur a non-core, non-cash charge of approximately 28c per share in current quarter results to adjust Duracell goodwill and intangible assets to the expected after-tax transaction value. P&G expects to finalize the restatement and one-time charge amounts in the next few weeks, and will update shareholders when final amounts are available. P&G said it expects to close the Duracell transaction in the second half of calendar year 2015 pending necessary regulatory approvals.
07:31 EDTPGBerkshire Hathaway to acquire Procter & Gamble's Duracell battery business
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07:30 EDTPGBerkshire Hathaway to acquire Procter & Gamble's Duracell battery business
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07:17 EDTTDGTransDigm sees FY15 adjusted EPS $8.03-$8.29, consensus $8.41
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07:16 EDTTDGTransDigm reports Q4 adjusted EPS $2.21, consensus $2.02
Reports Q4 revenue $642.2M, consensus $631.54M.
05:54 EDTEXCStocks with implied volatility movement; EXC BTU
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November 12, 2014
16:03 EDTJOYJoy Global initiated with a Hold at Brean Capital
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15:29 EDTTDGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Wal-Mart (WMT), consensus $1.12; Viacom (VIAB), consensus $1.68; Tyco (TYC), consensus 56c; Kohl's (KSS), consensus 74c; Helmerich & Payne (HP), consensus $1.67; Sally Beauty (SBH), consensus 40c; Manulife Financial (MFC), consensus 40c; TransDigm (TDG), consensus $2.02; MAXIMUS (MMS), consensus 52c.
09:54 EDTCATCaterpillar reaffirms 2014 EPS outlook about $6.50, consensus $6.56
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07:53 EDTBMRNLeerink to hold a tour
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November 11, 2014
08:09 EDTARQLArQule announces collaboration with NIH for ARQ 092 development
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November 10, 2014
15:57 EDTINTU, CLXWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
13:56 EDTPGProcter & Gamble to host analyst meeting
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10:04 EDTBMRNOn The Fly: Analyst Upgrade Summary
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09:20 EDTARQLOn The Fly: Pre-market Movers
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08:06 EDTINTUQlik Technologies, Intuit partner to deliver accounting analytics solutions
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08:03 EDTARQLArQule says Phase 2 tivantinib trial meets primary endpoint
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07:03 EDTARQLArQule sees FY14 EPS (48c)-(52c), consensus (46c)
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07:02 EDTARQLArQule reports Q3 EPS (10c), consensus (13c)
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06:02 EDTBMRNBioMarin upgraded to Buy from Neutral at Goldman
Goldman upgraded BioMarin to Buy based on increased confidence in BMN-111 for achondroplasia with expected proof-of-concept data in Q2 2015. The firm now sees a greater than 50% probability of success and peak sales of $900M. Price target raised to $104 from $78.
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