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Stock Market & Financial Investment News

News Breaks
April 3, 2014
10:00 EDTBBT, VVUS, LQDT, SJR, USG, LVLT, USB, EXR, FRC, OESX, NSC, NNN, BRCM, CF, CSX, LNG, C, DB, GK, MCS, TUOn The Fly: Analyst Downgrade Summary
BB&T (BBT) downgraded to Outperform from Strong Buy at Raymond James... Broadcom (BRCM) downgraded to Neutral from Overweight at Piper Jaffray... CF Industries (CF) downgraded to Neutral from Buy at Citigroup... CSX (CSX) downgraded to Equalweight from Overweight at Barclays... Cheniere Energy (LNG) downgraded to Neutral from Outperform at Credit Suisse... Citigroup (C) downgraded to Neutral from Buy at Sterne Agee... Deutsche Bank (DB) downgraded to Neutral from Overweight at JPMorgan... G&K Services (GK) downgraded to Neutral from Outperform at RW Baird... Marcus (MCS) downgraded to Neutral from Buy at B. Riley... National Retail Properties (NNN) downgraded to Sell from Neutral at UBS... Norfolk Southern (NSC) downgraded to Neutral from Overweight at Atlantic Equities... Orion Energy (OESX) downgraded to Hold from Buy at Ascendiant... VIVUS (VVUS) downgraded to Underweight from Neutral at Piper Jaffray... Liquidity Services (LQDT) downgraded to Neutral from Outperform at RW Baird... Shaw Communications (SJR) downgraded to Sector Performer from Outperformer at CIBC... USG (USG) downgraded to Neutral from Outperform at Macquarie... Level 3 (LVLT) downgraded to Hold from Buy at Gabelli... U.S. Bancorp (USB) downgraded to Neutral from Conviction Buy at Goldman... Extra Space Storage (EXR) downgraded to Buy from Conviction Buy at Goldman... First Republic Bank (FRC) downgraded to Buy from Conviction Buy at Goldman... TELUS (TU) downgraded to Neutral from Outperform at Macquarie.
News For BBT;BRCM;CF;CSX;LNG;C;DB;GK;MCS;NNN;NSC;OESX;VVUS;LQDT;SJR;USG;LVLT;USB;EXR;FRC;TU From The Last 14 Days
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October 13, 2014
13:48 EDTCCitigroup October volatility increases into Q3 and revenue outlook
Citigroup October call option implied volatility is at 39, November is at 25, December is at 25, January is at 24; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 14.
12:16 EDTCSXOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday amid light trading volume. Banks and bond markets are closed in observance of the Columbus Day holiday, though equity markets remain open. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of a number of freight train operators rose after The Wall Street Journal reported that one of the companies in the sector, CSX (CSX), was approached by a larger rival, Canadian Pacific (CP), about a possible merger. Following the Journal's report, CSX rose 10% and Canadian Pacific advanced 1%, while Norfolk Southern (NSC) and Kansas City Southern (KSU) both climbed about 3%... Chrysler returned to the U.S. stock market, as shares of Fiat Chrysler began trading on the New York Stock Exchange under the symbol "FCAU." MAJOR MOVERS: Among the notable gainers was J.C. Penney (JCP), which rose 3% after the company selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. Also higher were Atlas Energy (ATLS), which rose 20%, and Atlas Pipeline Partners (APL), which advanced 6%, after Targa Resources Partners (NGLS) and Targa Resources (TRGP) agreed to acquire Atlas Pipeline Partners for cash and stock valued at $38.66 per APL common unit and agreed to buy Atlas Energy following the company's spin-off of its non-midstream assets. Among the noteworthy losers was Aerohive Networks (HIVE), which plunged 30% after the company lowered its guidance for the third quarter, citing weaker-than-expected order volume near the quarter's end. Also lower were shares of GoPro (GPRO), which fell over 8% after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: Near midday, the Dow was down 32.14, or 0.19%, to 16,511.96, the Nasdaq was down 7.97, or 0.19%, to 4,268.27, and the S&P 500 was down 6.85, or 0.36%, to 1,899.28.
10:53 EDTCSX, NSCRailroads advance after report of Canadian Pacific approach to CSX
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10:31 EDTCSXCredit Suisse questions WSJ article on Canadian Pacific and CSX merger
Credit Suisse said it wouldn't be surprised if Canadian Pacific (CP) approached CSX (CSX), but questions its validity unless Canadian Pacific makes an official response. The analyst notes the STB rules concerning Class I mergers have an impossible hurdle rate, making a deal a non-starter.
10:26 EDTCSXHigh option volume stocks
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10:08 EDTUSGOn The Fly: Analyst Upgrade Summary
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09:21 EDTCSXOn The Fly: Pre-market Movers
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09:08 EDTMCSMarcus management to meet with Barrington
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08:52 EDTUSGUS Building Products & Homebuilding sector lowered at Barclays
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08:24 EDTCSXCSX price target raised to $37 from $32 at Bernstein
Bernstein raised its price target on CSX (CSX) after The Wall Street Journal reported that the company was approached by Canadian Pacific (CP) about a possible merger. The firm thinks the deal could enable CSX to more quickly raise its margins and presents it with an opportunity to unlock significant near-term value. Bernstein says the report makes it more constructive on CSX, but it keeps a Market Perform rating on the shares.
08:01 EDTCSXCanadian Pacific, CSX merger timing not ideal, says Cowen
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07:23 EDTCSXCSX volatility up, approached by Canadian Pacific on possible merger, report
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07:19 EDTCAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:44 EDTUSB, CRegulators seeking banks' auto loan data, Reuters reports
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05:54 EDTUSGUSG upgraded to Overweight from Equal Weight at Barclays
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00:04 EDTC, USBBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
19:36 EDTDBDeutsche Bank loses traders as it enforces behavior policy, FT says
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16:04 EDTCSXCSX approached by Canadian Pacific on possible merger, WSJ says
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14:42 EDTDBDeutsche Bank's provisions for legal costs may rise to $8.8B, Bloomberg says
Deutsche Bank's allocation for potential legal costs may rise to as much as $8.8B, says Bloomberg, citing a report from Spiegel. The banks legal costs which were 3B euros last year are impeding its efforts to build capital and increase returns for investors, added Bloomberg. Reference Link
13:03 EDTUSB, CBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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