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Stock Market & Financial Investment News

News Breaks
February 21, 2013
10:00 EDTPVR, DRE, PAY, OMX, QEP, LOW, GTIV, VOLC, UBSH, ODP, TSLA, CNK, OPEN, CF, PSE, HEK, HD, CQP, BDN, BHPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Neutral from Buy at Citigroup... Brandywine Realty (BDN) downgraded to Market Perform from Outperform at Wells Fargo... Cheniere Energy Partners (CQP) downgraded to Equal Weight from Overweight at Barclays... Heckmann (HEK) downgraded to Hold from Buy at Jefferies... Office Depot (ODP) downgraded to Neutral from Buy at Janney Capital... OfficeMax (OMX) downgraded to Neutral from Buy at Janney Capital... Pioneer Southwest (PSE) downgraded to Sell from Neutral at UBS... QEP Resources (QEP) downgraded to Hold from Buy at Jefferies... Union First Market (UBSH) downgraded to Neutral from Buy at Compass Point... VeriFone (PAY) downgraded to Neutral from Buy at Citigroup... CF Industries (CF) downgraded to Hold from Strong Buy at Feltl... Volcano (VOLC) downgraded to Hold from Buy at Feltl... Duke Realty (DRE) downgraded to Sector Perform from Outperform at RBC Capital... OpenTable (OPEN) downgraded to Market Perform from Outperform at Raymond James... Gentiva Health (GTIV) downgraded to Underperform from Market Perform at Raymond James... PVR Partners (PVR) downgraded to Market Perform from Outperform at Wells Fargo... Cinemark (CNK) downgraded to Neutral from Buy at Janney Capital... Lowe's (LOW) downgraded to Hold from Buy at Stifel Nicolaus... Home Depot (HD) downgraded to Hold from Buy at Stifel Nicolaus... Tesla (TSLA) downgraded to Underperform from Neutral at BofA/Merrill.
News For BHP;BDN;CQP;HEK;ODP;OMX;PSE;UBSH;PAY;CF;VOLC;DRE;OPEN;GTIV;PVR;CNK;LOW;HD;TSLA;QEP From The Last 14 Days
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February 2, 2016
16:02 EDTODPStaples, Office Depot finalize merger agreement extension
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11:19 EDTTSLATesla estimated to deliver 850 Model S sedans in NA in January, Inside EVs says
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07:30 EDTTSLAPacific Crest more cautious on Tesla after channel checks
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06:43 EDTBHPBHP may lose 'solid A' status amid commodities rout, Bloomberg says
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February 1, 2016
16:01 EDTTSLAOptions Update; February 1, 2016
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14:42 EDTTSLATesla applies for Michigan dealership license, Detroit News says
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13:24 EDTTSLATesla bull cuts target as competition ramps more quickly than new models
Shares of Tesla (TSLA) dipped significantly in early trading before later rebounding after Morgan Stanley cut its price target on the automaker to $333 from its previous $450, with the research firm citing a slow production ramp for its new car models, potentially weakened consumer demand amid cheap oil, and clearly heightening competition in the electric and autonomous vehicle space. LOW DEMAND, MORE COMPETITION: Morgan Stanley analyst Adam Jones cut his price target on Tesla to $333 from $450, arguing Monday that the carmaker is facing a slow production ramp for the Model X as well as the Model 3, which Jones said may launch in late 2018, missing the company's internal target by at least one year. It is reasonable to assume, Jones said, that Tesla is taking a deliberate, quality-conscious pace for Model X production while also shuffling personnel to help with the car's early rollout, impacting the launch of the mass-market Model 3 even as the company grapples with potentially reduced consumer demand in today's cheap oil environment. Given his assumption of lower volumes, the analyst's revised his 2020 forecast for complete vehicle deliveries to less than half of Tesla's own 500,000 target. For 2016, the analyst cut his total delivery forecast 2% to roughly 70,000 units, including a revision of Model X expectations to 15,000 from 18,500. Contributing to Tesla's headwinds, its consumer energy storage solution looks to be more expensive than previously thought, while competition in the shared and autonomous mobility arena has increased markedly. Indeed, competing efforts from Ford (F), Volkswagen (VLKAY), Alphabet (GOOG) and many others appear "genuine" and are likely to see significant investment follow-through, potentially pressuring Tesla's margins as it increases R&D spend to keep pace, Jones argued. That said, the analyst keeps an Overweight rating on the shares, explaining that while Tesla remains a high risk name that burns plenty of cash to fuel its ambitious plans, it may still be the best positioned company in the ongoing "Auto 2.0" transition. PRICE ACTION: After quickly dropping as low as $182.75 in early trading, shares of Tesla are now up 2.6% to $196.14 in afternoon trading.
10:02 EDTDREOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:36 EDTTSLAActive equity options trading on open
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
09:07 EDTCFCF Industries, CHS commence strategic venture
CF Industries (CF) and CHS (CHSCP) announced that they have commenced their previously announced nitrogen fertilizer strategic venture. CHS completed its $2.8B equity investment in CF Industries Nitrogen, LLC, a CF Industries subsidiary, and will start receiving delivery of urea and urea ammonium nitrate from CF Industries under a long-term supply agreement. CHS has purchased a minority equity interest in CF Nitrogen for $2.8B effective Feb. 1, 2016. Through the investment, CHS will be entitled to semi-annual profit distributions from CF Nitrogen based generally on the volume of granular urea and UAN purchased by CHS pursuant to the supply agreement. Starting Feb. 1, 2016, CHS is entitled to purchase up to 1.1M tons of granular urea and 580,000 tons of UAN annually from CF Nitrogen for ratable delivery. The 1.7M product tons available under the supply agreement represent approximately 8.9% of CF's total production capacity once its capacity expansion projects are completed at Donaldsonville, La., and Port Neal, Iowa, expected in 2016.
09:05 EDTDREDuke Realty downgraded on valuation, growth outlook at BMO Capital
As noted earlier, BMO Capital downgraded Duke Realty to Market Perform from Outperform.As reasons for the downgrade, the firm cited the decreasing gap in valuation between the company and its peers, along with its belief that the company's growth will match rather than exceed that of its peers this year. The firm expects the company's development margins to moderate this year and expects it to experience dilution from asset sales. Target $21.
08:58 EDTTSLATesla target cut to $333 on lower Model X, 3 expectations at Morgan Stanley
Morgan Stanley analyst Adam Jonas said manufacturing and engineering troubles delayed the Model X launch by at least one year and may have added "hundreds of millions of dollars" to costs for Tesla. While the company focuses significant effort on the Model X, Jonas repeats his expectation that the Model 3 will not launch until late 2018, which is at least one year later than the company is targeting. Citing the Model X and Model 3 concerns, as well as a lower valuation for Tesla Energy and rising competition in the shared mobility space, Jonas cut his price target on Tesla shares to $333 from $450, but maintains an Overweight rating on the stock.
08:29 EDTTSLATesla moves lower in pre-market trading
The stock is down over 3.2% to $184.93 on light volume. At that price next support is at $181.40, the 52-week low. Resistance is at $189.80.
06:53 EDTDREDuke Realty downgraded to Market Perform from Outperform at BMO Capital
06:07 EDTTSLATesla CEO Musk raises stake in company, MarketWatch reports
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January 29, 2016
16:12 EDTLOWLowe's names Sandra Cochran to board of directors
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05:26 EDTODPStocks with implied volatility movement; CCL ODP
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January 28, 2016
09:52 EDTTSLATesla nears test of 52-week low
Shares were last at $186.40, nearing a potential test of support at $181.40 which is the 52-week low. Resistance is at the session high at $191. A move below the 52-week low would confirm a break in the long-term uptrend for the shares.
09:38 EDTTSLAActive equity options trading on open
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05:20 EDTODPStocks with implied volatility above IV index mean; HLF ODP
Stocks with implied volatility above IV index mean; Herbalife (HLF) 63, Office Depot (ODP) 94 according to iVolatility.
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