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Stock Market & Financial Investment News

News Breaks
March 1, 2013
12:31 EDTBBY, DECK, CRM, SHS, AT, FWLT, MDROn The Fly: Midday Wrap
Stocks on Wall Street were up at midday despite "the Sequestor" taking effect at home and disappointing manufacturing data from abroad. The averages dipped right at the opening bell but were not down for long, almost immediately beginning to climb off their opening lows. The recovery was attributed by some to a rumor that an agreement had been reached on averting the Sequester. However, when the rumor went unfounded and President Obama held a press conference to discuss the challenging road ahead toward replacing the cuts, the averages weakened again, before gathering and resuming their upward momentum... ECONOMIC EVENTS: In the U.S., reports showed that personal income fell 3.6% during the month of January, versus expectations of a decline of 2.4%, though personal spending rose 0.2%, which was in line with forecasts. The final Markit PMI reading for February was revised down to 54.3 from a 55.2 prior figure. The University of Michigan Consumer Confidence reading was 77.6, versus the expected reading of 76.3. Construction spending fell 2.1% in the month of January, versus expectations for an increase of 0.4%. The ISM Manufacturing reading was 54.2, versus the expected 52.5, and prices paid reading was 61.5, versus the expected 57.0. In Europe, Markit's final Eurozone manufacturing PMI for February came in at 47.9, with downturns seen in all member nations aside from Germany and Ireland. Also, the unemployment rate in the 17-member single-currency region rose to a record 11.9% in January from 11.8% in December. In China, the official Purchasing Managers’ Index was 50.1 in February, the weakest in five months and down from 50.4 in January. A separate gauge from HSBC dropped to a four-month low of 50.4 from 52.3 in the prior month... COMPANY NEWS: The deadline for Best Buy's (BBY) founder, Richard Schulze, to make an offer to take the company private passed without a bid being made, but the company's stock managed to rise modestly following its report of better than expected sales and adjusted profit during the holiday quarter. Schulze stated in a regulatory filing that he facilitated various offers that would have resulted in private equity investments into the company but the proposals were rejected and that the company now "deserves a chance to implement its own plan." Best Buy shares jumped at the open, but moved lower during the morning, and were up about 1% near midday... MAJOR MOVERS: Among the notable gainers following their earnings reports were Deckers Outdoor (DECK), up 14%, and Salesforce.com (CRM), up over 7%. Also higher were shares of Sauer-Danfoss (SHS), which rose 8.5% after it announced that Danfoss would acquire the 24.4% of the common shares it does not already own for $58.50 per share in cash. Among the noteworthy losers was Atlantic Power (AT), down 29%, after its quarterly report disappointed and the company cut its dividend. Also lower after earnings reports were Foster Wheeler (FWLT), down 16%, and McDermott (MDR), down over 13%... INDICES: Near noon, the Dow was up 12.57, or 0.09%, to 14,067.06; the Nasdaq was up 2.49, or 0.08%, to 3,162.68; and the S&P 500 was up 1.55, or 0.10%, to 1,516.23.
News For BBY;DECK;CRM;SHS;AT;FWLT;MDR From The Last 14 Days
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April 23, 2014
08:24 EDTBBYAppliances may shift from tailwind to headwind this year, says Janney Capital
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07:35 EDTFWLTFoster Wheeler awarded contract for AngloGold mine
Foster Wheeler AG (FWLT) announced that a subsidiary of its Global Engineering and Construction Group has been awarded a contract for basic engineering for the Squaw Gulch ADR2 project, a new adsorption, desorption and recovery facility at AngloGold Ashanti’s (AU) Cripple Creek and Victor Gold Mining Company’s site in Teller, Colorado, U.S. Foster Wheeler's contract value was not disclosed and will be included in the company's first-quarter 2014 bookings. Foster Wheeler’s scope of work is scheduled for completion in the third quarter of 2014.
April 22, 2014
12:18 EDTCRMBofA/Merrill's software analysts hold an analyst/industry conference call
Software Analysts, along with Ray Wang, Principal Analyst & CEO at Constellation Research, provide their perspectives on pertinent topics in the software industry and how disruptive technologies impact cross channel commerce and technology optimization on an Analyst/Industry conference call to be held on April 25 at 11 am.
10:19 EDTBBYBofA/Merrill retail/LatAm retail analysts hold analyst/industry conference call
U.S. Hardline Analyst Chai and LatAm Retail Analyst Ford discuss Brazil's largest hardline retailer, Via Varejo and the survival of hardline retailers in a digital age, using as a case study, Best Buy (BBY), on an Analyst/Industry conference call to be held on April 23 at 10 am.
08:54 EDTCRMSaaS fundamentals remain strong, buy pullback, says Morgan Stanley
Morgan Stanley said SaaS fundamentals remain strong and corporate spending and secular drivers remain strong. The analyst would use the pullback to buy favorite names that include ServiceNow (NOW), Salesforce.com (CRM), Veeva (VEEV) and Workday (WDAY).
05:47 EDTCRMStocks with implied volatility movement; JCP CRM
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April 17, 2014
07:05 EDTMDRMcDermott signs agreement for North Sea spoolbase
McDermott announced that one of its subsidiaries has signed an option agreement with PD Ports which gives it the exclusive right to operate a spoolbase to serve projects in the North Sea. McDermott expects to have the facility available for projects in early FY15. Located in Hartlepool, in northeast U.K., the spoolbase is expected to support McDermott’s re-entry into the North Sea Reel-Lay market.
April 15, 2014
11:41 EDTBBYElectronics retailers sink after hhgregg lowers outlook
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April 14, 2014
10:02 EDTMDROn The Fly: Analyst Upgrade Summary
Acorda Therapeutics (ACOR) upgraded to Outperform from Market Perform at FBR Capital... Allegheny Technologies (ATI) upgraded to Neutral from Underperform at Sterne Agee... BP (BP) upgraded to Buy from Hold at Canaccord... Bloomin' Brands (BLMN) upgraded to Buy from Hold at Deutsche Bank... Boardwalk Pipeline (BWP) upgraded to Neutral from Underperform at BofA/Merrill... Boston Scientific (BSX) upgraded at BofA/Merrill... Charles Schwab (SCHW) upgraded to Buy from Neutral at UBS... Citigroup (C) upgraded to Hold from Sell at Rafferty Capital... Community Health (CYH) upgraded to Outperform from Perform at Oppenheimer... Eaton Vance (EV) upgraded to Neutral from Sell at Citigroup... Eli Lilly (LLY) upgraded to Hold from Underperform at Jefferies... F5 Networks (FFIV) upgraded to Buy from Hold at Stifel... HeartWare (HTWR) upgraded to Buy from Neutral at BTIG... Heartland Payment (HPY) upgraded to Hold from Sell at Stifel... Hyatt Hotels (H) upgraded to Outperform from Market Perform at FBR Capital... MasterCard (MA) upgraded to Outperform from Neutral at RW Baird... McDermott (MDR) upgraded to Neutral from Underweight at HSBC... Palo Alto (PANW) upgraded to Overweight at Stephens... PetroChina (PTR) upgraded to Neutral from Underperform at Credit Suisse... Seagate (STX) upgraded to Buy from Hold at Argus... Sensata (ST) upgraded to Buy from Neutral at Citigroup... Stryker (SYK) upgraded to Neutral from Reduce at SunTrust... TD Ameritrade (AMTD) upgraded to Buy from Neutral at UBS... TTM Technologies (TTMI) upgraded to Buy from Hold at Stifel... Transocean (RIG) upgraded to Hold from Sell at Deutsche Bank... VMware (VMW) upgraded to Outperform from Underperform at CLSA... Visa (V) upgraded to Outperform from Neutral at RW Baird... Yahoo (YHOO) upgraded to Buy from Neutral at SunTrust... Zimmer (ZMH) upgraded to Neutral from Reduce at SunTrust... bebe stores (BEBE) upgraded to Buy from Neutral at Janney Capital.
07:32 EDTFWLTFoster Wheeler awarded contract for incinerator in Vietnam
Foster Wheeler announced that a subsidiary of its Global Engineering and Construction Group has been awarded a contract for the design and supply of a carbon monoxide incinerator package for a residue fluidized catalytic cracker. The contract was awarded by JGC, which is acting on behalf of the engineering, procurement and construction consortium for the $9B Nghi Son Refinery and Petrochemical complex to be constructed in the Nghi Son Economic Zone, Thanh Hoa Province, Socialist Republic of Vietnam. The Foster Wheeler contract value was not disclosed and will be included in the company’s 1Q14 bookings. Foster Wheeler will design the incinerator in accordance with the CO emissions requirements of the new complex. The CO incinerator is expected to be shipped free on board as one single module during 2Q15.
05:54 EDTMDRMcDermott upgraded to Neutral from Underweight at HSBC
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April 11, 2014
08:49 EDTCRMBoston Properties signs 714,000 square foot lease with Salesforce.com
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April 10, 2014
16:06 EDTBBYZynga CFO Vranesh leaving company, Best Buy's Lee to succeed as CFO
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10:00 EDTDECKOn The Fly: Analyst Initiation Summary
Apple (AAPL) initiated with a Buy at Deutsche Bank... Crocs (CROX) initiated with a Buy at Buckingham... Deckers Outdoor (DECK) initiated with a Buy at Buckingham... EMC (EMC) initiated with a Buy at Deutsche Bank... HP (HPQ) initiated with a Buy at Deutsche Bank... IBM (IBM) initiated with a Hold at Deutsche Bank... NeoPhotonics (NPTN) coverage resumed with a Market Perform at Raymond James... NetApp (NTAP) initiated with a Hold at Deutsche Bank... Nutrisystem (NTRI) initiated with a Buy at B. Riley... Questar (STR) initiated with an Underperform at BofA/Merrill... S&T Bancorp (STBA) initiated with an Outperform at Raymond James... STB Systems Inc (STBI) initiated with an Outperform at Raymond James... Skechers (SKX) initiated with an Underperform at Buckingham... Steven Madden (SHOO) initiated with a Buy at Buckingham... UGI Corporation (UGI) initiated with a Buy at BofA/Merrill... Web.com (WWWW) initiated with a Neutral at Buckingham... Ally Financial (ALLY) initiated with a Buy at BTIG... Visteon (VC) initiated with a Buy at Citigroup... Greatbatch (GB) initiated with a Buy at KeyBanc... Steris (STE) initiated with a Buy at KeyBanc... Cooper Companies (COO) initiated with a Hold at KeyBanc... Hill-Rom (HRC) initiated with a Hold at KeyBanc... Invacare (IVC) initiated with a Hold at KeyBanc... Teleflex (TFX) initiated with a Hold at KeyBanc... Provident Financial (PROV) initiated with a Market Perform at Keefe Bruyette... UMH Properties (UMH) initiated with a Hold at Wunderlich.
09:01 EDTCRMSalesforce.com should be bought ahead of results, says Pacific Crest
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06:12 EDTDECKDeckers Outdoor initiated with a Buy at Buckingham
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