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Stock Market & Financial Investment News

News Breaks
February 28, 2013
05:55 EDTBBY, BBY, POM, POMCompanies reporting Before the Market Open on Friday, March 01
Notable companies reporting before the opening bell on Friday include Best Buy (BBY) and Pepco (POM).
News For BBY;POM From The Last 14 Days
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July 27, 2015
07:32 EDTPOMPepco reports Q2 adjusted EPS 23c, consensus 30c
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06:05 EDTBBYBest Buy to begin selling Apple Watch in August, WSJ reports
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July 23, 2015
19:24 EDTBBYWal-Mart's Apple Pay competitor launching soon, Bloomberg says
CurrentC, the mobile payment application funded by Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and others, will see an early trial run next month, Bloomberg reported earlier, citing three people familiar with the situation. A spokesperson for Lowe's (LOW) said the consortium behind the app expects an official launch in Q3, and Bloomberg noted that CurrentC will compete with more "established" offerings such as Apple's (AAPL) Apple Pay and Google's (GOOG) Android Pay. Reference Link
14:33 EDTPOMPepco continues to expect to complete merger with Exelon in Q3
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14:32 EDTPOMPepco says request filed for stay of MPSC order related to merger
In a regulatory filing, Pepco Holdings (POM) disclosed that on July 21, the Maryland Office of People’s Counsel filed a Motion in the Circuit Court for Queen Anne’s County, Maryland, requesting a stay of the MPSC Order and to conduct additional discovery and present additional evidence in light of an alleged conflict of interest on the part of a former MPSC Commissioner. "Pepco Holdings believes the motion is without merit and intends to vigorously oppose it and any other attempts to impede the effectiveness of the MPSC Order or delay the closing of the merger," the company said. As previously disclosed, on April 29, 2014, Pepco Holdings entered into an agreement and plan of merger with Exelon (EXC).
July 20, 2015
09:31 EDTBBYBest Buy store rationalization to be catalyst, says BB&T
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July 17, 2015
16:24 EDTBBYOn The Fly: Top stock stories for Friday
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12:38 EDTBBYOn The Fly: Top stock stories at midday
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10:46 EDTBBYBest Buy sinks after analyst says sell to avoid comp sales risk
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10:13 EDTBBYAmbarella to get boost from drone demand, analyst says
Ambarella (AMBA) should benefit from stronger than expected demand for drones, which are "literally flying off the shelves" at Best Buy (BBY), research firm Pacific Crest wrote in a note to investors today. Ambarella develops processors used in high definition cameras, such as those often utilized by drones. WHAT'S NEW: After conducting checks, Pacific Crest analyst Brad Erickson wrote that sales of drones have been stronger than expected. Ambarella should benefit from that trend, as well as from the fact that demand for GoPro (GPRO) cameras, which utilize Ambarella's chips, has been steady, Erickson stated. Although initial demand for GoPro's new Session camera "appears lukewarm," its newer cameras should drive a significant increase in sales volume starting in GoPro's October quarter, according to Erickson, who said the popularity of GoPro's cameras should enable Ambarella's results to beat Street expectations. The analyst continues to recommend buying Ambarella's stock and kept a $123 price target on the shares. WHAT'S NOTABLE: In a note to investors yesterday, Piper Jaffray analyst Erinn Murphy wrote that GoPro's risk/reward ratio was favorable heading into the company's Q2 results. According to Murphy, the stock fell recently because money rotated out of the shares following the initial public offering of Fitbit (FIT) and Goldman Sachs' initiation of coverage of the stock with a Neutral rating. However, Amazon (AMZN) data shows that GoPro's cameras are selling well and Ambarella's Q2 results beat expectations, Murphy noted. As a result, she expects GoPro's Q2 results to exceed expectations when they are reported next week. Murphy reiterated a $68 price target and Overweight rating on GoPro shares. PRICE ACTION: In early trading, Ambarella rose 1.3% to $109.59, while GoPro added 0.5% to $55.53.
10:05 EDTBBYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Accretive Health (ACHI) downgraded to Market Perform from Outperform at Cowen... Allergan (AGN) downgraded to Outperform from Top Pick at RBC Capital... Best Buy (BBY) downgraded to Underperform from Buy at BofA/Merrill... Cablevision (CVC) downgraded to Hold from Buy at Jefferies... Credit Suisse (CS) downgraded to Hold from Buy at Deutsche Bank... Domino's Pizza (DPZ) downgraded to Sector Weight from Overweight at KeyBanc... First Quantum Minerals (FQVLF) downgraded to Neutral from Outperform at Credit Suisse... First Republic (FRC) downgraded to Market Perform from Outperform at FBR Capital... Fresenius SE (FSNUY) downgraded to Neutral from Buy at Goldman... Golden Minerals (AUMN) downgraded to Neutral from Buy at Roth Capital... JD Wetherspoon (JDWPY) downgraded to Reduce from Neutral at Nomura... NV5 Holdings (NVEE) downgraded to Neutral from Accumulate at Global Hunter... National Oilwell (NOV) downgraded to Sell from Neutral at UBS... Natural Gas Services (NGS) downgraded to Neutral from Buy at Global Hunter... Primoris (PRIM) downgraded to Neutral from Accumulate at Global Hunter... Receptos (RCPT) downgraded to Hold from Buy at Evercore ISI... SKF AB (SKFRY) downgraded to Hold from Buy at Deutsche Bank... STAG Industrial (STAG) downgraded to Sell from Neutral at UBS... SolarWinds (SWI) downgraded to Hold from Buy at Deutsche Bank... Syntel (SYNT) downgraded to Market Perform from Outperform at William Blair... TECO Energy (TE) downgraded to Neutral from Buy at UBS... Tangoe (TNGO) downgraded to Underweight from Equal Weight at Barclays... Tegna (TGNA) downgraded to Hold from Buy at Evercore ISI.
09:44 EDTBBYBest Buy falls after downgrade, levels to watch
Shares are down over 5% to $33.08. At that price next support is at $32.56, a recent pivot low, and then at $31.78. Resistance is at $34.14. BofA/Merrill earlier downgraded the shares to Underperform and cut its price target to $32.
07:26 EDTBBYBofA/Merrill downgrades Best Buy two notches to Underperform
As previously reported, BofA/Merrill downgraded Best Buy to Underperform from Buy. The firm lowered estimates based on limited catalysts and continued investments and warned that a mixed product cycle could result in 2H comp downside. BofA/Merrill believes the consensus estimate of 1% comps for 2H look challenging given ongoing computer weakness, ongoing tablet commodization and pricing pressure and flat mobile trends. The firm cut its price target on Best Buy to $32 from $45.
07:07 EDTBBYBest Buy downgraded to Underperform from Buy at BofA/Merrill
July 16, 2015
13:22 EDTBBYBest Buy purchase of GameStop unlikely, says Oppenheimer
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