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Stock Market & Financial Investment News

News Breaks
January 2, 2013
10:02 EDTOSK, ADM, WAG, SFD, PRXL, BCR, ITW, HAIN, URBN, QDEL, ZEUS, BC, TTM, CAT, VAL, X, POM, MAROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Brunswick (BC) upgraded to Outperform from Market Perform at BMO Capital... C.R. Bard (BCR) upgraded to Overweight from Neutral at JPMorgan... Marriott (MAR) upgraded to Buy from Neutral at SunTrust... Olympic Steel (ZEUS) upgraded to Neutral from Underperform at Credit Suisse... PAREXEL (PRXL) upgraded to Buy from Neutral at Citigroup... Pepco Holdings (POM) upgraded to Outperform from Market Perform at Wells Fargo... Quidel (QDEL) upgraded to Outperform from Market Perform at Raymond James... Smithfield Foods (SFD) upgraded to Outperform from Market Perform at BMO Capital... U.S. Steel (X) upgraded to Outperform from Neutral at Credit Suisse... Urban Outfitters (URBN) upgraded to Hold from Underperform at Jefferies... Valspar (VAL) upgraded to Buy from Hold at KeyBanc... Walgreen (WAG) upgraded to Outperform from Market Perform at Raymond James... Hain Celestial (HAIN) upgraded to Outperform from Market Perform at BMO Capital... Archer Daniels (ADM) upgraded to Buy from Hold at Miller Tabak... Caterpillar (CAT) upgraded to Buy from Neutral at ISI Group... Illinois Tool Works (ITW) upgraded to Buy from Neutral at ISI Group... Oshkosh (OSK) upgraded to Buy from Neutral at ISI Group... Tata Motors (TTM) upgraded to Buy from Neutral at BofA/Merrill.
News For BC;BCR;MAR;ZEUS;PRXL;POM;QDEL;SFD;X;URBN;WAG;VAL;HAIN;ADM;CAT;ITW;OSK;TTM From The Last 14 Days
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March 23, 2015
06:15 EDTCATCaterpillar to eliminate 230 jobs at Joliet plant, WSJ reports
Caterpillar is planning to cut 230 jobs at its plant in Joliet, Illinois and move production of oil pumps and valves to one of its plants in Monterrey, Mexico, The Wall Street Journal reports. Caterpillar says production of struts and hoists cylinders will remain at the Joliet plant, which employs 770 workers. Reference Link
March 22, 2015
14:59 EDTHAINPinnacle Foods enters bidding for meatless food company Quorn, Telegraph says
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March 20, 2015
06:11 EDTBCRC.R. Bard management to meet with Leerink
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05:57 EDTTTMLand Rover recalls 36K SUVs following CCTV report, Financial Times says
Tata Motors' (TTM) Jaguar Land Rover is recalling more than 36K SUVs in China, reports the Financial Times. The recall comes after CCTV singled out Jaguar Land Rover of faliing to respond to customer complaints about faulty gearboxes. CCTV's report also accused Nissan (NSANY), Volkswagen (VLKAY), and Mercedes-Benz's China joint ventures on alleged overcharging by service outlets. Reference Link
March 19, 2015
13:21 EDTCATCaterpillar heads for test of its 52-week low, levels to watch
Shares were last down over 1.5% to $80.01, off the low of the day at $79.56. At the low of the day, next support is at the 52-week low at $78.19. Resistance is at the high of the day at $80.50.
13:17 EDTCATCaterpillar end market conditions still negative, says Wells Fargo
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11:24 EDTXStocks with call strike movement; X RIG
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09:12 EDTCATCaterpillar reports retail machines sales down 11% in three months end February
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March 17, 2015
13:16 EDTQDELQuidel says receives FDA clearance to market AmpliVue Trichomonas assay
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11:31 EDTCATCaterpillar sees up year for North American construction
Sees some competitors in the construction segment becoming more price competitive.
11:10 EDTCATCaterpillar says balance sheet will allow M&A for potential targets
Says metrics are in "great shape." Says not afraid of doing a "multi-billion dollar" deal.
11:05 EDTCATCaterpillar seeing some activity in domestic infrastructure investment
Comments from Caterpillar at Bank of American Merrill Lynch Global Industrials Conference.
10:45 EDTXStocks with call strike movement; X BBRY
U.S. Steel (X) March 24 call option implied volatility increased 8% to 52, BlackBerry (BBRY) September 11 call option implied volatility decreased 2% to 50 according to IVolatility.
10:44 EDTCATCaterpillar reaffirms FY15 EPS ex-items about $4.75, consensus $4.74
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08:01 EDTPOMExelon, Pepco Holdings reach settlement agreement with Maryland counties
Exelon Corporation (EXC) and Pepco Holdings (POM) announced that they have reached a settlement agreement with Montgomery and Prince George’s counties in the proceeding before the Maryland Public Service Commission to review the companies’ proposed merger, which was announced on April 30, 2014. The two counties represent all of Pepco’s Maryland customers and nearly three-fourths of Pepco Holdings total customers in Maryland. The settlement, which is subject to the approval of the Commissioners of the PSC, was filed by Exelon and Pepco Holdings and signed by Montgomery County, Prince George’s County, the National Consumer Law Center, National Housing Trust, Maryland Affordable Housing Coalition, the Housing Association of Nonprofit Developers and a consortium of nine recreational trail advocacy organizations led by the Mid-Atlantic Off-Road Enthusiasts. The settlement includes commitments aimed at providing benefits to customers and the state through a combination of bill credits, funding for energy-efficiency programs and renewables investments, low-income customer assistance and other provisions, including: A commitment to designate a portion of a proposed $94.4M customer investment fund to provide $36.8M in bill credits, or approximately $50 per Pepco and Delmarva Power customer in Maryland. The remainder -- $57.6M -- will go toward funding energy-efficiency programs designated by Montgomery County, Prince George’s County and the PSC. A commitment to help economically challenged customers lower their energy bills by dedicating at least 20% of the energy efficiency funds to programs targeting low- and moderate-income customers. In addition to today’s agreement, Exelon and Pepco Holdings announced March 10 that they have reached a settlement with The Alliance for Solar Choice in Maryland. The merger requires approvals by the Maryland Public Service Commission, the Public Service Commission of the District of Columbia and the Delaware Public Service Commission. On Feb. 13, Exelon reached a settlement agreement with staff of the Delaware Public Service Commission and other stakeholders, and the agreement is pending approval by the Commission. Following the expiration of the U.S. Department of Justice’s review period on Dec. 22, 2014, the Hart-Scott-Rodino Act no longer precludes completion of the merger.
March 16, 2015
12:42 EDTXU.S. Steel trades lower with peers, levels to watch
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12:39 EDTXSteels stocks lower after report of rising China exports, analyst note
Steel stocks are lower after a Wall Street Journal report on increasing Chinese steel exports and an analyst note that lowered price targets on the sector. WHAT'S NEW: A Wall Street Journal report from Sunday night pointed out that China's steel exports rose 63% to 9.2M tons in January from a year earlier. China produces as much steel as the rest of the world combined and as the country's growth slows it is shipping its excess steel overseas, resulting in lower prices and spurring steel producers around the globe to seek government protection. ANALYST VIEW: In a note to investors, Jefferies said steel fundamentals stayed challenging throughout the first quarter and the firm lowered its price targets on a number of names in the sector to account for its reduced estimates. Jefferies lowered its price target on U.S. Steel (X) to $21 from $26, cut its price target on Schnitzer Steel (SCHN) to $17 from $20, reduced its price target on Nucor (NUE) to $57 from $61, and trimmed its target on AK Steel (AKS) to $3.75 from $4.75. Jefferies noted that a majority of its contacts expect steel prices to trough sometime in the second quarter and the firm said it believes "mini-mill" producers like Steel Dynamics (STLD) and Nucor are best positioned in the group. PRICE ACTION:In midday trading, United States Steel is down 1.24%, AK Steel is lower by 2%, Schnitzer Steel Industries is down 4.3%, Steel Dynamics is down 0.96%, and Nucor is up fractionally.
11:49 EDTXChina steel exports set to rise from last year's level, WSJ says
As China's economy slows it is exporting its excess steel in greater amounts and is causing a backlash from other steel producers who are seeking government protection from falling prices, says the Wall Street Journal. China's steel exports in January were up 63% to 9.2M tons from a year earlier, added the Wall Street Journal. Publicly traded companies in the space include U.S. Steel (X), AK Steel (AKS), Steel Dynamics (STLD) and Nucor Corporation (NUE). Reference Link
10:14 EDTURBNOptions with decreasing implied volatility
Options with decreasing implied volatility: EXPR ULTA SGMS QIHU BKS PAY URBN AGN AGNC
08:11 EDTXSteel seen as likely to bottom in Q2 after weak Q1, says Jefferies
Jefferies said steel fundamentals stayed challenging throughout Q1 and the firm lowered its price targets on a number of names in the sector to account for its reduced estimates. Jefferies lowered its price target on U.S. Steel to $21 from $26, cut its price target on Schnitzer Steel (SCHN) to $17 from $20, reduced its price target on Nucor (NUE) to $57 from $61 and trimmed its target on AK Steel to $3.75 from $4.75. Jefferies noted that a majority of it contacts expect steel prices to trough sometime in Q2 and the firm said it believes "mini-mill" producers like Steel Dynamics (STLD) and Nucor are best positioned in the group.
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