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Stock Market & Financial Investment News

News Breaks
June 19, 2014
16:36 EDTETE, PIR, TRGP, BBRY, NGLS, CMGEOn The Fly: Closing Wrap
Stocks on Wall Street finished the day mixed after moving in a narrow range for the entire session. There were several passes back and forth across the flat line throughout the day as the market consolidated its gains from yesterday. Investors seemed content to sit on the sidelines ahead of what could be a volatile session tomorrow in what is called "quadruple witching," when various stock index futures, stock index options, stock options, and single stock futures expire. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 6K to 312K last week, which was nearly in-line with expectations. The Philly Fed manufacturing index rose 2.4 points to 17.8 in June, which was better than expected. The leading economic indicator index for May rose 0.5%, which was slightly below the consensus forecast for it to have grown 0.6%. COMPANY NEWS: Shares of BlackBerry (BBRY) climbed 80c, or 9.65%, to $9.09 after the company reported losses that weren't as steep as expected for the first quarter and said that it had recognized revenue on more handsets in Q1 than in the previous quarter. Moreover, it said that it was close to reaching the breakeven point on hardware sales and that it expects to be profitable "sometime in fiscal 2016." MAJOR MOVERS: Among the notable gainers was Targa Resources (TRGP), which surged $25.57, or 20.45%, to $150.62, and its operating unit Targa Resources Partners (NGLS), which gained $12.29, or 17.74%, to $81.55, after Bloomberg reported late in the day that both could potentially be acquired shortly by Energy Transfer Equity (ETE). Energy Transfer Equity closed the session down fractionally but was up more than 5% in after-hours trading following Bloomberg's report. Among the noteworthy losers was home furnishings retailer Pier 1 Imports (PIR), which dropped $2.40, or 13.14%, to $15.86 after the company's first quarter results missed analysts' consensus estimates and it cut its fiscal 2015 earnings per share outlook. Also lower were shares of China Mobile Games (CMGE), which fell $4.25, or 22.47%, to $14.65 before eventually being halted by Nasdaq after the company reportedly removed a total of nine executives, according to a Chinese-language report quoted by Bloomberg. INDEXES: The Dow was up 14.84, or 0.09%, to 16,921.46, the Nasdaq was up 3.51, or 0.08%, to 4,359.33, and the S&P 500 was up 2.50, or 0.13%, to 1,959.48.
News For BBRY;PIR;CMGE;TRGP;ETE;NGLS From The Last 14 Days
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November 14, 2014
07:20 EDTBBRYBlackBerry price target raised to $13 from $10 at JPMorgan
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07:19 EDTBBRYBlackBerry new partnerships positive, but still early days, says RBC Capital
RBC Capital believes that BlackBerry has recruited good partners and distributors, but the firm thinks it's still unclear whether BES 12 can gain share from other Enterprise Mobility Management systems. RBC Capital keeps a $12 price target and Sector Perform rating on BlackBerry.
November 13, 2014
15:51 EDTBBRYBlackBerry CEO says 'new' value added services are 'available'
15:40 EDTBBRYBlackBerry CEO says mission is to soften the SAF trajectory
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15:25 EDTBBRYBlackBerry CEO says company is hiring
15:23 EDTBBRYBlackBerry CEO says may do acquisitions and more partnerships
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15:19 EDTBBRYBlackBerry CEO says company is now financially stable, cash position strong
15:17 EDTBBRYBlackBerry CEO says has complimentary strengths with Samsung
BlackBerry CEO speaking on CNBC.
13:56 EDTCMGEChina mobile game sector to grow slower in 2015, says Rosenblatt
Rosenblatt says Tencent reported below consensus numbers, particularly in mobile games, where revenue fell sequentially. The firm expects China's mobile game sector to grow slower in 2015 and remains on the sidelines with regards to shares of Sky-mobi (MOBI), China Mobile Games (CMGE) and iDreamSky (DSKY). Rosenblatt thinks Qihoo's(QIHU) mobile game distribution business will also be hurt by the slowing growth.
13:28 EDTBBRYBlackBerry hits 52-week high after unveiling partnerships
Shares of BlackBerry (BBRY) hit a new 52-week high after the company announced three new partnership deals. The company is slated to hold its analyst day today, starting at 3:30 PM ET. WHAT'S NEW: BlackBerry announced that it would partner with Samsung to provide a security solution for the South Korean company's mobile devices that utilize Google's (GOOG) Android operating system. Under the deal, BlackBerry’s BES12, an Enterprise Mobility Management system, or EMM that was launched today, will be integrated with some of Samgung's Galaxy smartphones and tablets. BES 12 "securely manages devices from all of the major enterprise mobile platforms" and "will help organizations securely connect employees with each other and with the corporate information and machines” they need, BlackBerry stated. Also today, Blackberry announced that it would connect its EMM solutions to Salesforce's (CRM) top customer relationship management platform. "This agreement will allow Salesforce and BlackBerry joint customers to run their businesses from their phone while complying with specific industry regulations," said Vivek Kundra, a Salesforce Executive Vice President in a statement. "BlackBerry has an excellent reputation in security and networks, and when matched with the Salesforce Customer Success Platform, public sector organizations can use their mobile devices to connect with customers in a whole new way," added Kundra. Finally, BlackBerry announced that Brightstar would distribute BES 12. BlackBerry described Brightstar as "the world's largest wireless distribution company and leader in services for the wireless industry." WHAT'S NOTABLE: BES12 is expected to compete with Apple (AAPL) in the enterprise space. Apple earlier this year announced that it was partnering with IBM (IBM) in an effort to sell more products to corporate customers. PRICE ACTION: In mid-afternoon trading, BlackBerry jumped 6% to $11.95. Earlier today the shares set a new 52-week high of $12.05.
12:29 EDTBBRYCitron Research says confident in $15 target for BlackBerry
Citron Research stated on Twitter: "All systems a go for Mr. Chen. New deal with Samsung makes Citron feel confident about our near term $15 target [on BlackBerry.] New 52 week high" Reference Link
12:04 EDTBBRYBlackBerry announces strategic partnership with Samsung
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12:03 EDTBBRYBlackBerry announces agreement with Salesforce.com
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12:01 EDTBBRYBlackBerry announces partnership with Brightstar
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11:00 EDTBBRYStocks with call strike movement; ARCP BBRY
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November 12, 2014
12:00 EDTBBRYBlackBerry to host investor day
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November 11, 2014
10:00 EDTNGLSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcentra Capital (ABDC) upgraded to Outperform from Market Perform at Keefe Bruyette... Ambac Financial (AMBC) upgraded to Neutral from Sell at MKM Partners... Banco Bilbao (BBVA) upgraded to Buy from Reduce at Nomura... Darden (DRI) upgraded at KeyBanc... ICU Medical (ICUI) upgraded to Overweight from Neutral at Piper Jaffray... IMAX (IMAX) upgraded to Buy from Neutral at Goldman... Juniper (JNPR) upgraded to Buy from Neutral at Nomura... Michaels (MIK) upgraded to Overweight from Equal Weight at Morgan Stanley... Midcoast Energy (MEP) upgraded to Outperform from Neutral at Credit Suisse... Midstates Petroleum (MPO) upgraded to Outperform from Market Perform at Northland... Monroe Capital (MRCC) upgraded to Outperform from Neutral at RW Baird... NuVasive (NUVA) upgraded to Outperform from Market Perform at Cowen... ONEOK Partners (OKS) upgraded to Outperform from Neutral at Credit Suisse... ORBCOMM (ORBC) upgraded to Overweight from Equal Weight at First Analysis... Pattern Energy (PEGI) upgraded to Outperform from Neutral at Macquarie... Targa Resources Partners (NGLS) upgraded to Outperform from Neutral at Credit Suisse... Time Warner (TWX) upgraded to Conviction Buy from Neutral at Goldman... Tremor Video (TRMR) upgraded to Buy from Hold at Jefferies... Western Gas Partners (WES) upgraded to Outperform from Neutral at Credit Suisse... Yamana Gold (AUY) upgraded to Overweight from Neutral at HSBC... Zynga (ZNGA) upgraded to Buy from Hold at Jefferies.
07:31 EDTNGLSTarga Resources Partners upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded Targa Resources to Outperform based on valuation and relative total return potential. Price target remains $76.
November 10, 2014
08:26 EDTBBRYBlackBerry CEO meets with Lenovo, seeks partnerships in China, Bloomberg reports
BlackBerry (BBRY) CEO John Chen acknowledged meeting with the heads of Xiaomi and Lenovo (LNVGY) and said his company's strengths in security, encryption and privacy may present opportunities for agreements on technology licensing, distribution or manufacturing in China, reported Bloomberg, citing an interview with Chen at the Asia-Pacific Economic Cooperation CEO Summit. Reference Link
November 9, 2014
17:49 EDTBBRYBlackBerry plans few devices as it focuses on profitability, Reuters says
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