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Stock Market & Financial Investment News

News Breaks
February 20, 2013
05:55 EDTAYR, AYR, WMAR, WMAR, WMT, WMT, SWY, SWY, PWR, PWR, PEG, PEG, PCG, PCG, PDCO, PDCO, HRL, HRL, ESV, ESV, DNR, DNR, CHK, CHK, CG, CG, BRC, BRC, ZLC, ZLCCompanies reporting Before the Market Open on Thursday, February 21
Notable companies reporting before the opening bell on Tuesday include Aircastle (AYR), Brady (BRC), Carlyle Group (CG), Chesapeake Energy (CHK), Denbury Resources (DNR), Ensco (ESV), Hormel Foods (HRL), Patterson Companies (PDCO), PG&E (PCG), Public Service Enterprise Group (PEG), Quanta Services (PWR), Safeway (SWY), Wal-Mart Stores (WMT), West Marine (WMAR), and Zale (ZLC).
News For AYR;BRC;CG;CHK;DNR;ESV;HRL;PDCO;PCG;PEG;PWR;SWY;WMT;WMAR;ZLC From The Last 14 Days
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August 28, 2015
10:02 EDTPDCOOn 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.
08:03 EDTPWRQuanta Services management to meet with Stephens
Meetings to be held in the Mid-Atlantic area September 3-4 hosted by Stephens.
07:31 EDTCGCarlyle in takeover talks with Innovation Group, Sky News reports
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06:56 EDTCGCarlyle has little luck with hedge funds, WSJ reports
Carlyle Group has often seen the hazards of running hedge funds, with its Carlyle Capital fund becoming a harbinger for the 2008 financial crisis and its Blue Wave Partners hedge fund ending abruptly a few months later, the New York Times says. As recently as last week, the company announced that its credit-focused hedge fund Claren Road Asset Management faced roughly $2B in investor redemption requests, the report says. Though the company makes money in its core buyout business as well as in other areas, its track record with hedge funds has been murky at best, the report says. Reference Link
06:37 EDTPDCOPatterson Companies upgraded to Overweight from Neutral at Piper Jaffray
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August 27, 2015
18:49 EDTPCGCalifornia Utilities Commission investigates PG&E safety practices
The California Public Utilities Commission began a formal investigation Thursday into whether Pacific Gas and Electric has corporate governance, clearly documented organizational goals and objectives, and work procedures that "prioritize and improve safety." CPUC President Michael Picker commented, "A public utility's track record of safely operating its system is dependent on more than messages and slogans. An effective safety culture is shaped by... most of all, the accountability set by the top leadership." The CPUC will evaluate PG&E's organizational culture, governance, policies, practices, and accountability metrics in relation to its record of operations, including its record of safety incidents. The CPUC will analyze the methods used by PG&E's board of directors and executive leadership to hold themselves and management accountable for their decisions and actions, including executive compensation policies. "PG&E has invested in safety improvements, added new board members with safety experience, and reorganized to prioritize gas operations safety. But accidents and events affecting the safety of the general public, its customers, and others continue to occur on PG&E's system, prompting the CPUC to take a deeper look." The CPUC's safety and enforcement division will retain the services of an independent expert consultant with experience in auditing corporate governance and accountability, not to exceed $2M. PG&E will reimburse the CPUC for the consultant services, said the Commission. Reference Link
07:12 EDTPDCOPatterson Companies sees FY16 adjusted EPS $2.40-$2.50, consensus $2.47
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07:11 EDTPDCOPatterson Companies reports Q1 adjusted EPS 47c, consensus 54c
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06:23 EDTWMTWal-Mart extends holiday layaway program two weeks, Reuters reports
Wal-Mart (WMT) plans to boost its holiday layaway program by two weeks ahead of an expected year-end demand for Star Wars toys, a Disney (DIS) property, Reuters reports. The retailer will jumpstart the program on August 28, two weeks earlier than last year, the report says, citing comments from Anne Marie Kehoe, VP of toys at Wal-Mart. Reference Link
August 26, 2015
15:00 EDTPDCONotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar General (DG), consensus 94c... J. M. Smucker (SJM), consensus $1.23... Tiffany (TIF), consensus 91c... Signet Jewelers (SIG), consensus $1.15... Patterson (PDCO), consensus 54c... Michaels (MIK), consensus 16c... Burlington Stores (BURL), consensus 12c.
14:52 EDTWMTWal-Mart phasing out sales of modern sport rifles, Washington Post says
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August 25, 2015
18:11 EDTESVTranocean tanks after proposing dividend cancellations, peers follow
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11:02 EDTPEGPSEG Solar Source acquires Columbia Solar Project from Hanergy
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06:16 EDTCGKKR, Carlyle bid for Tesco's South Korean unit, Reuters reports
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August 24, 2015
08:33 EDTPEGPSEG Power combined cycle plant clears PJM's reliability pricing model auction
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August 21, 2015
16:34 EDTWMTMarket enters correction territory in worst week in four years
For the week, stocks plummeted amid concerns about a slowing Chinese economy and declining oil prices. MACRO NEWS: Monday, the Empire State manufacturing index crashed to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009... Meanwhile, the NAHB homebuilder sentiment index rose to 61 in August from 60 in June, matching consensus estimates... Tuesday, July housing starts edged up 0.2% to 1.206M, beating consensus estimates for 1.180M in the best reading since October 2007. Building permits, however, fell 16.3% to 1.119M against expectations for 1.230M, while single family starts rose 12.8% and multifamily numbers fell 17.0%... Wednesday, the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%... Meanwhile, FOMC minutes showed no definitive indication of a September rate hike... Thursday, initial jobless claims rose to 277,000 from a revised 273,000, bringing the 4-week moving average to 271,500... The Philadelphia Fed index rose 2.6 points to 8.3 in August, beating expectations for a 7.5 reading... Friday, the PMI Manufacturing Index Flash for August came in at a level of 52.9, below the prior level of 53.8 and the consensus level of 54.2. COMPANY NEWS: Monday, Liberty Interactive (QVCA) announced an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B. The acquisition will be attributed to Liberty's QVC tracking stock, though the companies specified that QVC and zulily will operate as separate brands... Amazon (AMZN) founder and CEO Jeff Bezos downplayed a recent New York Times critique of the company's workplace practices, telling employees in an email that "the article doesn't describe the Amazon I know or the caring Amazonians I work with every day..." Tuesday, Wal-Mart (WMT) cut its full year earnings outlook, with company executives on a subsequent conference call expressing confidence in China but noting that Brazil and U.K. remain challenging markets for the company... Wednesday, Seagate Technology (STX) agreed to acquire Dot Hill Systems (HILL) for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016... Thursday, Valeant (VRX) agreed to acquire Sprout Pharmaceuticals for roughly $1B in cash plus a profit-sharing agreement, adding that it expects to bring the company's recently-approved female sexual dysfunction drug Addyi to the U.S. by Q4... Friday, Steiner Leisure (STNR) entered into a definitive merger agreement where an affiliate of Catterton will acquire all of the outstanding shares of Steiner for $65 per share in cash. INDEXES: For the week, the Dow lost about 5.79% to close at 16,459.75, the Nasdaq declined about 6.71% to close at 4,706.04, and the S&P 500 fell about 5.73% to close at 1,970.89.
10:02 EDTAYROn The Fly: Analyst Initiation Summary
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07:36 EDTCGKKR, Affinity teaming up to bid for Tesco's South Korean unit, Reuters reports
KKR (KKR) is teaming up with Affinity Equity Partners to bid for Tesco's (TSCDY) South Korean unit, Reuters reports, citing sources. Another bidder, Carlyle (CG), is teaming up with Singapore's GIC, the sources say. The Tesco unit is valued at about $6B. Reference Link
07:05 EDTCHKChesapeake reports notice of proposed voluntary dismissal of derivative action
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06:25 EDTAYRAircastle initiated with a Neutral at DA Davidson
Target $23.
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