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Stock Market & Financial Investment News

News Breaks
May 7, 2014
08:25 EDTBWA, BWA, GNTX, GNTX, MTOR, MTOR, CMC, CMC, WLK, WLK, PHM, PHM, PCAR, PCAR, BRP, BRP, CAT, CAT, BERY, BERYWells Fargo to hold a conference
Industrials & Construction Conference is being held in New York on May 7-8 with webcasted company presentations to begin on May 7 at 8:25 am; not all company presentations may be webcasted. Webcast Link
News For BERY;CAT;BRP;PCAR;PHM;WLK;CMC;MTOR;GNTX;BWA From The Last 14 Days
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January 16, 2015
07:16 EDTCATCaterpillar January weekly volatility elevated into Q4 and outlook
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07:12 EDTCATChanos says two of three Caterpillar areas 'highly troubled'
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January 15, 2015
10:00 EDTPHMOn The Fly: Analyst Initiation Summary
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07:38 EDTPHMPulteGroup initiated with an Equal Weight at Morgan Stanley
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January 14, 2015
11:22 EDTBWABorgWarner sell-off creates attractive entry point, says Wells Fargo
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10:36 EDTBWABorgWarner sees FY15 free cash flow $350M-$400M
10:36 EDTBWABorgWarner sees FY15 operating income as percentage of sales above 13%
The company expects operating income as a percentage of net sales to be "above 13%" in 2015, up from its guidance of "approaching 13%" for 2014. The improvement can be largely attributed to incremental income from higher net sales and an ongoing focus on managing costs. Strong operational performance is expected to offset the costs of global growth, restructuring-related inefficiencies and other inflationary cost pressures.
10:35 EDTBWABorgWarner sees FY15 EPS ex-items $3.60-$3.75, consensus $3.74
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10:33 EDTBWABorgWarner backs FY14 EPS ex-items $3.23-$3.28, consensus $3.27
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07:34 EDTBWADeutsche Bank to hold a conference
2015 Global Auto Industry Conference is being held in Detroit on January 13-15 with webcasted company presentations to begin on January 14 at 7:15 am; not all company presentations may be webcasted. Webcast Link
07:06 EDTPHMKB Home margin issues company specific, says Deutsche Bank
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January 13, 2015
16:24 EDTPHMOn The Fly: Closing Wrap
The Wall Street averages spent time in both positive and negative territory during the session, before closing a bit below where they'd started the day. The market opened sharply higher after Alcoa’s (AA) better than expected report gave some optimism about the upcoming earnings season. The early move higher came despite oil continuing its slide. The major averages saw their highs shortly after the open and then began to drift slowly lower. By mid-afternoon the market was in the red, though the equity averages eventually made it briefly back into positive ground, but failed to hold those narrow gains into the close. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index for December came in at 100.4, which was stronger than the expected 98.5 reading. The JOLTS report showed job openings increased 142K to 4.972M in November, beating the 4.85M consensus forecast. Treasury posted a $1.9B surplus in December, which was a bit below the expected surplus of $3B. Also of note is the fact that the U.S. and European benchmarks of WTI and Brent crude were at parity for the first time since 2013 during the session, with both trading near $46 per barrel for a time. COMPANY NEWS: KB Home (KBH) reported better than expected revenue and higher orders in its fourth quarter, but the stock declined $2.70, or 16.29%, to $13.87 after CEO Jeffrey Mezger warned on the associated earnings call that margins could drop "significantly" in its current quarter from the levels seen last year. KB's margin outlook, which it blamed on rising costs, heavier use of incentives and a sequential decline in average selling prices, dragged down peers in the housing space as well. D.R. Horton (DHI), the biggest homebuilder by market cap, finished the day down $1.26, or 4.83%, to $24.82, while PulteGroup (PHM) also slid $56c, or 2.47%, to $22.13... MetLife (MET) said it will sue to oppose the U.S. Financial Stability Oversight Council’s designation of the insurer as a SIFI, or "systemically important financial institution." The life insurer called the label premature and said it has offered “substantial and compelling evidence” that it isn’t a SIFI. Wells Fargo said it thinks it is appropriate for MetLife to challenge the ruling, though the firm does not presently see a Dodd-Frank provision that enables an entity to shed its designation. Wells added that a MetLife victory would have no impact on either AIG (AIG) or Prudential (PRU), which did not challenge their SIFI designations before their windows closed. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which rose $1.21, or 20.86%, to $7.01 after the company issued better than expected guidance on its second quarter results. Also higher was McGraw Hill Financial (MHFI), which jumped $5.13, or 5.98%, to $90.89 after reports said the company's Standard & Poor’s rating unit was in talks about a potential $1B settlement to its fight with the Justice Department and state attorneys general over allegations of inflating credit ratings on mortgage investments preceding the financial crisis. Among the noteworthy losers was ChannelAdvisor (ECOM), which plunged $11.32, or 53.52%, to $9.83 after its fourth quarter revenue warning prompted no less than eight downgrades of the stock by Street analysts. Also lower were shares of Ocwen Financial (OCN), which dropped $4.41, or 36.18%, to $7.78 after the Los Angeles Times reported that California is seeking to suspend the company's mortgage license in the state. Altisource Portfolio Solutions (ASPS), which is a related company to Ocwen, also declined $10.45, or 38.79%, to $16.49. Shares of GoPro (GPRO) fell $6.91, or 12.17%, to $49.87 after the Patently Apple blog reported that Apple (AAPL) was granted a patent for a camera system that specifically mentions the weaknesses of GoPro devices. INDEXES: The Dow fell 27.16, or 0.15%, to 17,613.68, the Nasdaq lost 3.21, or 0.07%, to 4,661.50, and the S&P 500 dropped 5.23, or 0.26%, to 2,023.03.
12:48 EDTPHMOn The Fly: Midday Wrap
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11:50 EDTPHMKB Home comments hit shares of Homebuilders
Shares of companies in the Homebuilders space declined after KB Home (KBH) said on its earnings conference call that it will not meet its housing gross profit margin goal in 2015. KB cautioned that there is "still much work to do be done" to achieve its financial goals going forward. The homebuilder noted that as Q4 progressed, demand in some of its markets softened. It expects gross margins in Q1 to be down "significantly" from the year-ago period. Publicly traded companies in the space include Beazer Homes (BZH), D.R. Horton (DHI), Hovnanian (HOV), Lennar (LEN), M.D.C. Holdings (MDC), PulteGroup (PHM), Ryland Group (RYL) and Toll Brothers (TOL). The stocks moved lower following KB's comments.
11:44 EDTPHMHomebuilders decline after KB says won't hit 2015 housing margin goal
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11:31 EDTCMCBofA/Merrill metals & steel analysts hold analyst/industry conference call
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08:11 EDTBWABorgWarner reaches 1M VCT phasers produced milestone in chinese plant
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January 12, 2015
10:00 EDTPCAROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Agnico-Eagle (AEM) upgraded at BMO Capital... Aimco (AIV) upgraded to Outperform from Market Perform at Wells Fargo... Alaska Air (ALK) upgraded at Evercore ISI... Alcoa (AA) upgraded to Buy from Neutral at Nomura... Alon USA Energy (ALJ) upgraded to Neutral from Sell at Goldman... AvalonBay (AVB) upgraded to Buy from Hold at Jefferies... BASF (BASFY) upgraded to Buy from Neutral at Citigroup... C.H. Robinson (CHRW) upgraded to Overweight from Equal Weight at Barclays... CBS (CBS) upgraded to Outperform at Cowen... Chesapeake (CHK) upgraded to Buy from Neutral at Goldman... China Mobile (CHL) upgraded to Buy from Hold at Jefferies... Chunghwa Telecom (CHT) upgraded to Neutral from Underweight at ... D.R. Horton (DHI) upgraded at KeyBanc... Daimler AG (DDAIF) upgraded to Neutral from Underperform at BofA/Merrill... Diamond Resorts (DRII) upgraded to Buy from Neutral at Goldman... FMC Corporation (FMC) upgraded to Buy from Neutral at BofA/Merrill... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... Frontier Communications (FTR) upgraded at BofA/Merrill... HomeAway (AWAY) upgraded to Outperform from Neutral at Macquarie... Ingersoll-Rand (IR) upgraded at Morgan Stanley... KB Home (KBH) upgraded to Outperform from Market Perform at Raymond James... Knight Transportation (KNX) upgraded to Overweight from Equal Weight at Barclays... LabCorp (LH) upgraded to Outperform at RW Baird... M.D.C. Holdings (MDC) upgraded to Outperform from Market Perform at Raymond James... Mid-America Apartment (MAA) upgraded to Buy from Hold at Jefferies... PACCAR (PCAR) upgraded at RBC Capital... Parsley Energy (PE) upgraded to Neutral from Sell at Goldman... Peugeot (PUGOY) upgraded to Buy from Underperform at BofA/Merrill... Radware (RDWR) upgraded to Buy from Neutral at Buckingham... Rush Enterprises (RUSHA) upgraded at BB&T... Ryland Group (RYL) upgraded to Outperform from Market Perform at Raymond James... SL Green Realty (SLG) upgraded to Buy from Hold at Jefferies... Solera (SLH) upgraded to Buy from Neutral at Goldman... Standard Pacific (SPF) upgraded to Neutral from Underweight at JPMorgan... Statoil (STO) upgraded to Neutral from Sell at Goldman... Syngenta (SYT) upgraded to Buy from Hold at Miller Tabak... VMware (VMW) upgraded to Positive from Mixed at OTR Global... Vale (VALE) upgraded to Outperform from Sector Perform at Scotia Capital... Volvo (VOLVY) upgraded to Neutral from Underperform at BofA/Merrill... Windstream (WIN) upgraded at BofA/Merrill... lululemon (LULU) upgraded to Neutral from Underperform at Sterne Agee.
08:43 EDTPCARPACCAR upgraded at RBC Capital
As noted earlier, RBC Capital upgraded PACCAR to Outperform from Sector Perform. The firm believes the company is poised to benefit from an improving North American truck cycle, and says that the company's customers should benefit from lower fuel prices. Target to $75 from $66.
06:46 EDTPCARPACCAR upgraded to Outperform from Sector Perform at RBC Capital
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