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Stock Market & Financial Investment News

News Breaks
April 2, 2013
10:02 EDTAZN, SMF, ROSE, UNH, GNC, FFIV, DLLR, EHTH, UPL, DVA, EBAY, CRFN, UAM, HBIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AstraZeneca (AZN) upgraded to Neutral from Underweight at JPMorgan... DaVita (DVA) upgraded to Buy from Hold at Deutsche Bank... GNC Holdings (GNC) upgraded to Buy from Hold at Deutsche Bank... Hanesbrands (HBI) upgraded to Overweight from Equal Weight at Barclays... Qualcomm (QCOM) upgraded to Strong Buy from Outperform at Raymond James... Ultra Petroleum (UPL) upgraded to Buy from Hold at Brean Capital... UnitedHealth (UNH) upgraded to Strong Buy from Outperform at Raymond James... Universal American (UAM) upgraded to Market Perform from Underperform at Raymond James... eHealth (EHTH) upgraded to Buy from Neutral at Janney Capital... Rosetta Resources (ROSE) upgraded to Focus List from Sector Perform at Howard Weil... Qualcomm (QCOM) upgraded at Raymond James... Crescent Financial (CRFN) upgraded to Outperform from Market Perform at Raymond Jamesl... DFC Global (DLLR) upgraded to Buy from Neutral at Nomura... Salient MLP & Energy Infrastructure (SMF) upgraded to Buy from Hold at Stifel... eBay (EBAY) upgraded to Buy from Hold at Topeka... F5 Networks (FFIV) upgraded to Outperform from Neutral at RW Baird.
News For AZN;DVA;GNC;HBI;UPL;UNH;UAM;EHTH;ROSE;CRFN;DLLR;SMF;EBAY;FFIV From The Last 14 Days
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February 7, 2016
14:45 EDTUNHLeerink healthcare services analyst holds analyst/industry conference call
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February 5, 2016
16:12 EDTHBIOn The Fly: Top stock stories for Friday
Stocks began the session in negative territory and remained there throughout the day. The monthly jobs report showed job growth had slowed more that expected in January, along with indicating higher than expected wage inflation due to the minimum wage increases around the country. Also weighing on the market were the worse than expected forecasts from some companies with previously high-flying stocks, including professional social network operator LinkedIn (LNKD). The Nasdaq was the biggest decliner losing more than 3% of its value, though the S&P and Dow also finished with significant losses. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. Consumer credit surged $21.3B in December, topping the $16B increase that was expected. COMPANY NEWS: LinkedIn plunged 43.68% to $108.49 after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock. "Big Data" software provider Tableau (DATA) similarly issued full-year guidance significantly below expectations and also fell sharply, tumbling 49.57% to $41.27. A number of companies that sell software to businesses fell in the wake of their reports, including Splunk (SPLK), Qlik Technologies (QLIK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers following their earnings reports were packaged foods maker Post Holdings (POST), which gained 11.14% to $63.83, and meat producer Tyson Foods (TSN), which advanced Among the noteworthy losers was Lionsgate (LGF), falling 27% to $18.57 after its third quarter revenue and earnings declined, which the company attributed to the performance of its theatrical film slate. Lionsgate's post-earnings pullback also weighed on Starz (STRZA), which fell 22.2%. Bloomberg reported earlier in the week, citing sources, that Lionsgate had restarted talks to possibly acquire Starz. Also lower following their earnings reports were shares of Redbox parent Outerwall (OUTR), which fell 17.28%, and Hanesbrands (HBI), which slid 15.1%. INDEXES: The Dow fell 211.75, or 1.29%, to 16,204.83, the Nasdaq lost 146.42, or 3.25%, to 4,363.14, and the S&P 500 declined 35.43, or 1.85%, to 1,880.02.
11:23 EDTHBIOptions with increasing put volume
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09:19 EDTHBIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tyson Foods (TSN), up 6.9%... Symantec (SYMC), up 9.1%... Ubiquiti (UBNT), up 20.2%... Lumentum (LITE), up 7.5%. DOWN AFTER EARNINGS: Tableau Software (DATA), down 42.8%... LinkedIn (LNKD), down 35.6%... Outerwall (OUTR), down 19.9%... Sierra Wireless (SWIR), down 24.4%... Deckers Outdoor (DECK), down 12.7%... Hanesbrands (HBI), down 13.3%. ALSO LOWER: LinnCo (LNCO), down 65% after announcing exploration of strategic alternatives... Linn Energy (LINE), down 59.2% after announcing exploration of strategic alternatives... Quotient (QTNT), down 17.9% after 4.44M share Secondary priced at $9.00... Hess (HES), down 10.2% after 25M share Spot Secondary priced at $39.00.
07:38 EDTHBIHanesbrands weakness a buying opportunity, says Brean Capital
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07:29 EDTHBIOptions expected to be active
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07:22 EDTHBIHanesbrands price target lowered to $35 from $42 at UBS
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07:11 EDTHBIHanesbrands should be bought on weakness, says Oppenheimer
After Hanesbrands reported weaker than expected results, Oppenheimer noted that the company indicated that its sales have rebounded in recent weeks. Additionally, the firm says that the company's guidance is, "achievable if not beatable." The firm keeps a $43 price target and Outperform rating on the shares.
February 4, 2016
19:30 EDTHBIOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ubiquiti Networks (UBNT), up 18.3%... Symantec (SYMC), up 9.3%... Hartford Financial (HIG), up 7.4%... Post Holdings (POST), up 6.3%... Lumentum (LITE), up 4.7%... TTM Technologies (TTMI), up 1.1%. ALSO HIGHER: Multi-Fineline (MFLX), up 40% after agreeing to be acquired for $23.95 per share. DOWN AFTER EARNINGS: Tableau Software (DATA), down 35.2%... LinkedIn (LNKD), down 29%... Giga-tronics (GIGA), down 28.6%... Hanesbrands (HBI), down 11.4%... YRC Worldwide (YRCW), down 18.8%... Outerwall (OUTR), down 14.2%... Deckers Outdoor (DECK), down 9.9%... Qorvo (QRVO), down 1.3%... athenahealth (ATHN), down 3.7%. ALSO LOWER: Hess (HES), down 6.7% after filing to sell 25M common shares and 10M depositary shares... Splunk (SPLK) is down 10.4%, Qlik Technologies (QLIK) is down 11.4%, Workday (WDAY) is down 6.2%, and Palo Alto Networks (PANW) is down 3% after Tableau Software reported quarterly results... Groupon (GRPN) is down 1.9%, Netflix (NFLX) is down 1.7%, Twitter (TWTR) is down 1.7%, and Facebook (FB) is down 1% are down after LinkedIn reported quarterly results.
16:17 EDTHBIHanesbrands sees FY16 adjusted EPS $1.85-$1.91, consensus $1.90
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16:14 EDTHBIHanesbrands reports Q4 adjusted EPS 44c, consensus 46c
Reports Q4 revenue $1.41B, consensus $1.53B.
14:35 EDTHBINotable companies reporting after market close
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12:44 EDTAZNOn The Fly: Top stock stories at midday
Stocks on Wall Street had an up and down morning, with the Dow swinging by triple digits in either direction. The market opened lower as oil prices lost their early gains, but as oil began to move higher so did stocks. When oil prices met resistance near the $34 a barrel level it began to pare its gains, once again taking stocks with it. The averages are now back in the green as investors await tomorrow's monthly jobs report. ECONOMIC EVENTS: In the U.S., the Labor Department said that productivity fell at an annual rate of 3% in the fourth quarter, marking the biggest quarterly decline in nearly two years and worse than the expected decline of 2%. Labor costs rose 4.5% in the fourth quarter, versus expectations for an increase of 4.3%. Initial jobless claims rose to 285,000 in the week ended January 30, versus expectations for 277,000 first-time claims. Factory orders declined 2.9% in December, versus expectations for them to be down 2.8% for the month. In Europe, the European Commission lowered its 2016 economic growth forecast for the 19-nation single currency area to 1.7% from the 1.8% expansion the commission had forecast in November. The Bank of England also cut its economic growth forecasts, saying it now expects Britain's economy to grow 2.2% this year and 2.3% next year, which is down from the 2.5% growth for 2016 and 2.6% in 2017 that it previously predicted. Additionally, the BoE maintained its bank rate and held the size of its asset purchase program steady. COMPANY NEWS: Shares of GoPro (GPRO) sunk to an all-time low after the action camera maker reported fourth quarter revenue that fell $60M short of expectations and guided toward sales in the new quarter that were even further below the consensus forecast. GoPro, which also guided to losses in the first quarter and named a new CFO, fell as low as $9.01 earlier in the session before cutting its losses to be down about 8% near noon... Sumner Redstone stepped down as Executive Chairman of both CBS (CBS) and Viacom (VIA, VIAB), being replaced by the CEOs of the companies in both cases. CBS shares were up 1% after Leslie Moonves was named the next Chair of its board, while Class A shares of Viacom were up about 1.5% after Philippe Dauman was selected to succeed Redstone... ConocoPhillips (COP) fell nearly 7% after the oil and gas explorer reported a worse than expected quarterly loss and slashed its dividend to 25c from 74c per share. CEO Ryan Lance said the decision to reduce the dividend was a "difficult one," but that the company believes it is prudent to plan for lower commodity prices for a longer period of time. MAJOR MOVERS: Among the notable gainers was Hersha Hospitality (HT), which rallied 14% after it announced that it signed agreements with Cindat to form a joint venture for seven of the company's hotels in Manhattan for $571.4M. Also higher was VirnetX (VHC), which gained 53% after it was awarded $625.6M in a verdict against Apple (AAPL) for infringing four VirnetX patents. In addition, GrubHub (GRUB) and ProtoLabs (PRLB) were up 15% and 12%, respectively, after reporting quarterly earnings. Among the noteworthy losers were Ralph Lauren (RL), Kohl's (KSS), and AstraZeneca (AZN), which were down 17%, 19%, and 7%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 70.02, or 0.43%, to 16,406.68, the Nasdaq was up 6.50, or 0.14%, to 4,510.74, and the S&P 500 was up 3.90, or 0.2%, to 1,916.43.
06:35 EDTAZNAstraZeneca CEO: Will only do immediately accretive acquisitions, Reuters says
AstraZeneca CEO said that the company will only do more acquisitions if they are immediately accretive, Reuters reports, citing comments from CEO Pascal Soriot to reporters. Soriot added that the company's MYSTIC lung cancer combination study is moving rapidly, the report says. Reference Link
06:27 EDTAZNAstraZeneca sees FY16 core EPS down low to mid single-digit percentage
Sees FY16 total revenue down low to mid single-digit percentage. The company said the guidance "incorporates the dilutive effects arising from the Acerta Pharma and ZS Pharma transactions announced in 2015." It added, "The guidance also assumes the loss of exclusivity for Crestor in the US from May 2016. Externalisation Revenue is expected to be ahead of that in FY 2015, including an increasing element of recurring income arising from prior agreements. This is in line with the Company's long-term business model." AstraZeneca said core R&D costs are expected to be at a similar level to FY15. The company said it is also committed to materially reducing Core SG&A costs in FY16.
06:26 EDTAZNAstraZeneca reports Q4 core EPS 94c, consensus 94c
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February 3, 2016
14:48 EDTAZNNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Philip Morris (PM), consensus 81c... AstraZeneca (AZN), consensus 88c... Occidental Petroleum (OXY), consensus (12c)... ConocoPhillips (COP), consensus (65c)... Cigna (CI), consensus $1.80... Intercontinental Exchange (ICE), consensus $3.01... Boston Scientific (BSX), consensus 25c... Charter Communications (CHTR), consensus (12c)... Ralph Lauren (RL), consensus $2.13... Dunkin' Brands (DNKN), consensus 50c... GrubHub (GRUB), consensus 14c... Level 3 (LVLT), consensus 53c... AmerisourceBergen (ABC), consensus $1.25... Cummins (CMI), consensus $2.11.
11:25 EDTAZNAstraZeneca management to meet with Jefferies
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February 1, 2016
16:12 EDTGNCGNC Holdings increases dividend 11.1% to 20c
GNC Holdingsdeclared the quarterly cash dividend for Q1 of 20c per share of the company's common stock, representing an 11.1% increase over its prior quarterly dividend. The dividend will be paid on or about March 25 to stockholders of record as of the close of business on March 11.
January 31, 2016
11:39 EDTEBAYS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
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