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Stock Market & Financial Investment News

News Breaks
February 20, 2013
10:31 EDTROC, COF, END, AEG, DAKT, TSS, SEE, RRGB, BMTI, HOT, SAI, NTSP, BIDU, WIN, SIRO, OMX, LLL, DK, HFC, CM, ESRX, BCSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Barclays (BCS) downgraded to Neutral from Buy at Goldman... Canadian Imperial Bank (CM) downgraded to Underweight from Equal Weight at Barclays... Delek US Holdings (DK) downgraded to Market Perform from Outperform at Wells Fargo... Express Scripts (ESRX) downgraded to Neutral from Outperform at Macquarie... HollyFrontier (HFC) downgraded to Market Perform from Outperform at Wells Fargo... L-3 Communications (LLL) downgraded to Underperform at RBC Capital... OfficeMax (OMX) downgraded to Hold from Buy at BB&T... SAIC (SAI) downgraded to Neutral from Overweight at JPMorgan... SAIC (SAI) downgraded to Underperform from Sector Perform at RBC Capital... Sealed Air (SEE) downgraded to Underperform from Market Perform at Wells Fargo... Sirona Dental (SIRO) downgraded to Neutral from Outperform at RW Baird... Starwood Hotels (HOT) downgraded to Hold from Buy at Jefferies... Total System (TSS) downgraded to Hold from Buy at Jefferies... Windstream (WIN) downgraded to Sell from Neutral at UBS... BioMimetic (BMTI) downgraded to Neutral from Buy at Summer Street... OfficeMax (OMX) downgraded at BB&T... Daktronics (DAKT) downgraded to Neutral from Buy at Dougherty... Red Robin (RRGB) downgraded to Neutral from Buy at Davenport... Baidu (BIDU) downgraded to Underperform from Outperform at CLSA... AEGON (AEG) downgraded to Sell from Hold at ABN Amro... NetSpend (NTSP) downgraded to Neutral from Buy at SunTrust... Capital One (COF) downgraded to Neutral from Buy at Guggenheim... Rockwood (ROC) downgraded to Neutral from Buy at SunTrust... Endeavour (END) downgraded to Neutral from Accumulate at Global Hunter.
News For BCS;CM;DK;ESRX;HFC;LLL;OMX;SAI;SEE;SIRO;HOT;TSS;WIN;BMTI;DAKT;BIDU;RRGB;AEG;NTSP;COF;ROC;END From The Last 14 Days
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May 14, 2015
17:02 EDTDKDelek US completes acquisition of 48% ownership interest in Alon USA Energy
Delek US Holdings (DK) announced that it has completed the acquisition of approximately 33.7M shares, or approximately 48% of the outstanding shares, of Alon USA Energy (ALJ) common stock from Alon Israel Oil Company. Five seats on the eleven-member Alon USA board of directors previously held by Alon Israel representatives have been filled by representatives from Delek US. This includes Delek US Chairman, President and CEO Uzi Yemin who has been named as the chairman of the Alon USA board. Prior to commencing negotiations with Alon Israel, Delek US entered into a stockholder agreement with Alon USA. During the first year following the closing of this transaction, the stockholder agreement allows Delek US to acquire up to 49.99% of the outstanding shares of Alon USA at its discretion, with additional ownership above this threshold subject to the approval of the independent members of Alon USA’s board of directors. The stockholder agreement will expire on May 14, 2016, and Delek US will then have no further restrictions under this agreement related to increasing ownership in Alon USA.
11:08 EDTESRXExpress Scripts management to meet with Maxim
Meeting to be held in St. Louis, MO on May 21 hosted by Maxim.
06:49 EDTBCSBanks to pay several billion over alleged currency violations, NY Times says
Barclays (BCS), JPMorgan Chase (JPM), Citigroup (C) and the Royal Bank of Scotland (RBS) are expected to agree to pay a combined "several billion dollars" as part of a settlement with the U.S. over alleged foreign exchange rigging, according to The New York Times, which cited unnamed sources. The banks are also expected to plead guilty to criminal antitrust violations, but it is not anticipated that their operations will be significantly affected as a result of those pleas, the newspaper stated. Meanwhile, UBS (UBS) will pay a fine of up to $500M related to alleged "foreign currency misconduct," the newspaper stated. Reference Link
May 13, 2015
16:43 EDTHFCHollyFrontier raises quarterly dividend 1c to 33c per share
HollyFrontier announced that its board of directors approved an increase in the company's regular quarterly dividend to 33c per share from the previous rate of 32c per share. The dividend will be paid on June 26 to holders of record of common stock on June 5. "We intend to maintain both a competitive dividend yield and total cash yield relative to our peer group," said the company.
09:38 EDTDKCitadel Advisors reports 5.6% passive stake in Delek US
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May 12, 2015
16:11 EDTHOTStarwood closes sale of The Gritti Palace
Starwood Hotels & Resorts announced that it has closed on the sale of The Gritti Palace, Venice to Nozul Hotels & Resorts, the owner of W Doha Hotel, and a wholly owned subsidiary of “Jaidah Holdings” for approximately $117M. Starwood will continue to operate the hotel under The Luxury Collection brand flag under a new long-term management agreement.
12:11 EDTLLLL-3 Communications awarded $81.8M contract from Raytheon Australia
L-3 Communications (LLL) announced that it has been awarded an $81.8M contract from Raytheon (RTN) Australia to supply the Australian Defence Force with 236 Very Small Aperture Terminals, additional support equipment, and training as part of Joint Project 2008 Phase 5B1. This program will further enable the ADF to utilize the Wideband Global SATCOM system, significantly increasing their satellite communications capabilities. Two L-3 business units, Global Communications Solutions and Linkabit, will perform on this contract, with hardware deliveries expected to be completed this year. The contract will deliver L-3 GCS's Hawkeye and Panther family of VSAT terminals, integrated with L-3 Linkabit’s MPM family of modems, and includes the option to purchase additional terminals and equipment. These terminals will enable ADF troops on the ground to benefit from increased data rates and a higher level of network performance. This award comes as a follow-on to the $35M Joint Project 2008 Phase 3H contract awarded to L-3 in 2013 for 54 Hawkeye III Lite VSATs and support equipment.
09:19 EDTHOTStarwood signs long-term management agreement with 302 Pitt Operations
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08:01 EDTHOTStarwood says Sheraton brand to debut in Danang, Vietnam
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07:48 EDTBCSStandard & Poor's to hold a summit
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07:29 EDTRRGBRed Robin should be bought into Q1 report, says Stephens
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May 11, 2015
17:47 EDTBIDUBaidu launches internal anti-corruption probe, AFP says
Baidu has begun anti-corruption investigations against certain of its employees, reports Agence France-Presse, citing company statements. The report notes that Chinese media company Sina claimed Monday that the company is investigating three departmental directors. Reference Link
09:58 EDTBCSBarclays expected to pay GBP2B to settle forex rigging charges, FT says
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07:40 EDTESRXFocus on Vertex will shift to pricing after Orkambi FDA meeting, WSJ says
An FDA advisory committee that meets Tuesday to decide whether to recommend approval of Vertex’s Orkambi will be closely watched by health insurers and pharmacy-benefit managers concerned that the experimental cystic-fibrosis drug will be high-priced, said The Wall Street Journal. Vertex hasn’t announced a price, but analyst at JPMorgan predict the drug will have a wholesale price of about $287,000 annually per patient. Publicly traded PBM owners include Catamaran (CTRX), which is being acquired by UnitedHealth (UNH), CVS Health (CVS) and Express Scripts (ESRX). Reference Link
May 8, 2015
15:15 EDTHOTStarwood management to meet with JPMorgan
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12:51 EDTHOTStarwood may be looking for acquisition, says Wells Fargo
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12:46 EDTHOTMarriott CEO sees four potential outcomes for Hilton, Hotel News Now says
Marriott CEO Arne Sorenson laid out four possible outcomes for Starwood (HOT), which is exploring strategic alternatives, Hotel News Now reports, citing comments from the Arabian Hotel Investment Conference in Dubai. One outcome is Marriott or Hilton (HLT) buying Starwood, which Sorenson downplayed, according to the website. The others options include Starwood acquiring another company, getting bought out by a buyer from the Middle East or Asia and maintaining the current ownership structure. Reference Link
07:42 EDTBIDUAlibaba monetization has bottomed, price target to $137 at Nomura
Nomura believes Alibaba's (BABA) monetization is at an inflection point and that the company will see significant revenue upside in the next 3-5 years. The firm's checks indicate gross merchandise volume is recovering in both Taobao and Tmail and it expects Tmail to gain market share from JD.com (JD) again. Nomura believes Alibaba will have better terms of mobile monetization compared to Baidu (BIDU), since mobile landing page quality is less of an issue and e-commerce ads likely have higher click-through rates.
06:34 EDTSIROSirona Dental backs FY15 non-GAAP EPS $3.95-$4.05, consensus $4.00
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06:32 EDTSIROSirona Dental reports Q2 non-GAAP EPS 76c, consensus 75c
Reports Q2 revenue $257.3M, consensus $263.76M.
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