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News Breaks
February 22, 2013
Today's noteworthy downgrades include: Aircastle (AYR) downgraded to Hold from Buy at Dahlman Rose... C.R. Bard (BCR) downgraded to Sell from Neutral at Goldman... CYS Investments (CYS) downgraded to Market Perform from Outperform at JMP Securities... CreXus (CXS) downgraded to Sector Perform from Outperform at RBC Capital... E-Trade (ETFC) downgraded to Neutral from Buy at Nomura... Government Properties (GOV) downgraded to Sector Perform at RBC Capital... NetSpend (NTSP) downgraded to Neutral from Buy at Citigroup... Swift Energy (SFY) downgraded to Hold from Buy at Brean Capital... Teekay Tankers (TNK) downgraded to Market Perform from Outperform at Wells Fargo... Valassis (VCI) downgraded to Hold from Buy at Benchmark Co... Volcano (VOLC) downgraded to Neutral from Conviction Buy at Goldman... Wendy's (WEN) downgraded to Underperform from Neutral at Credit Suisse... First Solar (FSLR) downgraded at Pacific Crest... JAKKS Pacific (JAKK) downgraded at Stifel Nicolaus... IMAX (IMAX) downgraded to Hold from Buy at Stifel Nicolaus... Comcast (CMCSA) downgraded to Neutral from Outperform at Macquarie... BlackBerry (BBRY) downgraded to Sell from Neutral at MKM Partners... CF Industries (CF) downgraded to Sell from Buy at Dahlman Rose... Agrium (AGU) downgraded to Sell from Buy at Dahlman Rose... Mosaic (MOS) downgraded to Hold from Buy at Dahlman Rose... Volcano (VOLC) downgraded to Market Perform from Outperform at William Blair... Potash (POT) downgraded to Sell from Hold at Dahlman Rose... VeriFone (PAY) downgraded to Hold from Buy at Argus... BP (BP) downgraded to Hold from Buy at Canaccord... First Solar (FSLR) downgraded to Underperform from Sector Perform at Pacific Crest.
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July 22, 2015
16:10 EDTCYSCYS Investments reports Q2 core EPS 22c vs. 21c last quarter
The company’s book value per common share on June 30 was $9.62, compared to $10.53 at March 31.
15:26 EDTCMCSANotable companies reporting before tomorrow's open
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10:01 EDTCFOn The Fly: Analyst Downgrade Summary
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08:26 EDTPOTK+S preparing for possible hostile bid from Potash, Wirtschaftswoche reports
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08:01 EDTBBRYBlackBerry agrees to acquire AtHoc, terms not disclosed
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07:54 EDTJAKKJAKKS Pacific affirms FY15 EPS 71c-75c, consensus 74c
Affirms Fy15 revenue $730M-$740M, consensus $742.97M. Adjusted EBITDA for the year is expected in the range of $56M-$58M.
07:53 EDTJAKKJAKKS Pacific reports Q2 EPS (30c), consensus (35c)
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07:45 EDTCMCSAComcast July weekly volatility elevated into Q2 and outlook
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07:12 EDTIMAXIMAX to adapt Vienna State Opera for new Mission: Impossible film premiere
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06:39 EDTBPEuro, U.S. oil and gas groups to find tough competition in Iran, WSJ says
European and U.S. oil and gas firms drawn to Iran as sanctions lessen can expect not only opportunities, but also Iranian companies offering tough competition or joint ventures, the Wall Street Journal reports. Though no Iran-based companies have the clout of firms such as Exxon Mobil (XOM) or Schlumberger (SLB), companies that can take on engineering tasks are emerging and growing in Iran, the report says. If the Iran nuclear agreement comes into effect and sanctions are lifted against Iran sometime soon, those Iranian companies will be well positioned to compete for tens of billions of dollars worth of service contracts, the report adds. Other publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
06:36 EDTCFCF Industries downgraded to Neutral from Positive at Susquehanna
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06:27 EDTBPBP faces challenges in India, Russia, WSJ reports
BP's oil and gas fields project in India with Reliance Industries, the company's first major project since the Deepwater Horizon spill in 2010, has been stalled, posing global challenges for the oil giant, the Wall Street Journal reports. In addition, political hurdles in Russia and cost-ineffective shale operations in the U.S. have also hurt BP, the report says. Reference Link
July 21, 2015
17:50 EDTBBRYBlackBerry reports additional job cuts, CBC says
BlackBerry has disclosed an additional round of job cuts, the Canadian Broadcasting Corporation reported earlier, citing company statements. The company did not reveal how many employees were laid off, but noted that some were shifted to other positions within BlackBerry. Reference Link
13:14 EDTPOTK+S says new Potash offer not enough for takeover talks, Reuters says
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09:27 EDTBCRFDA sent C.R. Bard warning letter after facility inspection
The FDA sent C.R. Bard a warning letter after inspecting the company's Peripheral Vascular facility. The letter stated in part, "FDA is aware that your firm submitted both in-vitro and in-vivo testing demonstrating the use of the Recovery Cone Removal System, Model RC-15 for removal of the Recovery Filter (K031328), the G2X Filter (K082305), the G2 Express Filter (K080668), and the G2 Filter (K073090). However, the Recovery Cone System, Model RC-15 was not included as part of the clearances for any of the aforementioned IVC filters. Therefore, your firm is marketing the Recovery Cone Removal System, Model RC-15 in the United States without marketing clearance or approval. Percutaneous retrieval systems, such as the Recovery Cone Removal System, Model RC-15, are regulated as manual surgical instruments intended for specialized use within a specific medical specialty, and thus require marketing authorization in order to be legally marketed in the United States." Reference Link
July 20, 2015
17:34 EDTWENWendy's completes purchase of 18.42M shares from Trian Group
As previously reported, on June 2, Wendy's and the Trian Group entered into a purchase agreement. At Wendy's request, the Trian Group agreed not to tender or sell any of their shares in the offer and instead agreed, pursuant to the purchase agreement, to sell a pro rata amount of their shares of common stock to the company at a purchase price per share equal to the purchase price determined and paid in the offer, following the completion of the offer. Pursuant to the purchase agreement, on July 17, the company acquired 18.42M shares of common stock, in the aggregate, from the Trian Group at a price of $11.45 per share, for an aggregate purchase price of approximately $210.9M. Trian Group currently holds approximately 19.56% of the outstanding shares of common stock. As such, the Trian Group has completed its previously announced plan to sell a sufficient number of shares to reduce its holdings in the company by at least 20% in order to avoid adverse federal income tax consequences in connection with the transaction. Following completion of the transaction, the Trian Group remains the company’s largest stockholder based on current share ownership information on file with the SEC. In addition, Nelson Peltz continues to serve as the chairman of the board of the company, Peter May continues to serve as vice chairman of the board of the company and Edward Garden continues to serve as a director of the company.
09:03 EDTJAKKSkechers partners with JAKKS Pacific for Twinkle Toes branded dolls
SKECHERS USA, Inc. (SKX) announced that it has partnered with JAKKS Pacific, Inc. (JAKK) to launch a new line of dolls based on SKECHERS’ Twinkle Toes character. Additionally, SKECHERS and JAKKS have partnered to create original digital media content that is animated by the state-of-the-art production team Cosmic Toast Studios. Beginning in July, 11 webisodes featuring the Twinkle Toes doll characters will be released bimonthly on Each webisode will follow the adventures of the four “Twinkle Girls” as they encounter life lessons and themes such as friendship, the importance of education, and setting goals. The SKECHERS Twinkle Toes doll line is now available nationwide at Toys “R” Us and is scheduled to launch at select Target retail stores in Fall 2015.
06:58 EDTCFCF Industries will likely have to pay up for OCI, says Piper Jaffray
Piper Jaffray has a favorable initial view of CF Industries' potential acquisition of OCI, but feels the company will have to pay up for the assets. Piper only expects modest savings from a potential inversion given the heavily U.S. based business for CF. It still believes the deal would be accretive, however. It keeps an Overweight rating on CF with a $71 price target. Piper points out that there is a "lot of uncertainty" if a deal will happen.
05:23 EDTCFCF Industries confirms talks with OCI N.V.
CF Industries confirmed that it is in preliminary discussions with OCI N.V. regarding a potential combination involving certain of OCI's businesses. There can be no assurances that these discussions will result in any transaction. CF Industries does not intend to comment further at this stage and any further statements will be made if and when appropriate.
05:21 EDTIMAXIMAX reports 'Monster Hunt' opening weekend at Chinese box office earned $8.7M
IMAX announced that Monster Hunt, the 3D fantasy adventure from director Raman Hui and producers William Kong, Chung Man Yee and Alan Yuen, earned $8.7M in its opening weekend in China on 216 IMAX screens, making it the largest-ever opening for a Chinese IMAX DMR film. Additionally, Monster Hunt scored a record single-day gross for a Chinese film in IMAX, totaling $2.7M on Saturday.
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