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Stock Market & Financial Investment News

News Breaks
June 5, 2014
09:59 EDTSJR, VOLVY, Z, BHP, KOF, LTM, PLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BHP Billiton (BHP) downgraded to Sector Perform from Outperform at RBC Capital... Coca-Cola Femsa (KOF) downgraded to Neutral from Buy at Goldman... Life Time Fitness (LTM) downgraded to Neutral from Overweight at Piper Jaffray... Protective Life (PL) downgraded to Neutral from Buy at UBS... Shaw Communications (SJR) downgraded to Hold from Buy at TD Securities... Volvo (VOLVY) downgraded to Sell from Neutral at UBS... Zillow (Z) downgraded to Neutral from Buy at SunTrust.
News For BHP;KOF;LTM;PL;SJR;VOLVY;Z From The Last 14 Days
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September 30, 2014
08:52 EDTZNews Corp. sees Move, Inc. deal to close in 2Q15
News Corp (NWSA) believes Move, Inc. (MOVE) is in a unique position and holds an important role for the company to expand in the digital real estate industry. Says this is the most significant acquisition the company has made since launching as a separate company last summer. Says this acquisition allows the company to stay committed to returning capital to shareholders. Says believes that Move Inc.'s strategy is different that that of Trulia (TRLA) and Zillow (Z). Says expects that the transaction will be very modestly EPS valued in the short term. News Corp continues to expect to generate positive cash flow regardless of the acquisition. Says Move, Inc. will improve and enhance the core media assets of News Corp. Comments made during a conference call discussing News Corp's acquisition of Move, Inc.
08:12 EDTBHPBHP Billiton reports employee fatally injured at Worsley Alumina refinery
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06:21 EDTBHPBHP sends Phil Montgomery to Jansen potash project, WSJ reports
BHP Billiton has sent Phil Montgomery, its head of group project management, to run the massive Jansen potash development in Canada, the Wall Street Journal reports. BHP has committed $3.8B to the project, but it has no fixed completion date, and last year work was halted for months due to technical issues. Reference Link
September 29, 2014
09:47 EDTPLProtective Life to host special shareholder meeting
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September 25, 2014
13:03 EDTBHPBHP Billiton discussing possible resolution of 2009 anti-corruption case
In its annual report, BHP Billiton said that it was currently discussing a possible resolution to its 2009 anti-corruption case. The company said, "As previously disclosed, BHP Billiton received requests for information in August 2009 from the SEC. Following that request, the group commenced an internal investigation and disclosed to relevant authorities evidence that it has uncovered regarding possible violations of applicable anti-corruption laws involving interactions with government officials. The issues relate primarily to matters in connection with previously terminated exploration and development efforts, as well as hospitality provided as part of the company’s sponsorship of the 2008 Beijing Olympics. The Group is currently discussing a potential resolution of the matter."
10:06 EDTBHPOn The Fly: Analyst Upgrade Summary
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07:37 EDTBHPBHP Billiton to freeze pay for CEO, non-executive directors
Following the Remuneration Committee’s annual review the CEO Andrew Mackenzie’s base salary and target remuneration for this year will remain unchanged. Last year, the Remuneration Committee believed that Mackenzie's remuneration should be rebased down and as a result, the CEO’s package was reduced by approximately 25%. Non-executive Director fees will also remain unchanged. In its annual report, the company believes these outcomes align remuneration with shareholder interests and the prevailing business environment.
07:32 EDTBHPBHP Billiton upgraded to Buy from Neutral at Citigroup
September 24, 2014
13:45 EDTBHPBHP Billiton mulls secondary listing in London for spin-off company, WSJ says
BHP Bilton is mulling a secondary listing in London for its new spin-off company that contains noncore mining assets, The Wall Street Journal reports, citing a shareholder letter. The move comes following increased shareholder pressure regarding the company's original plan to spin off the company only in Australia and South Africa. Analysts estimate the new company could be worth approximately $17B, The Wall Street Journal added. Reference Link
12:29 EDTSJR20th Century Fox signs TV deal with Canadian Shomi, The Hollywood Reporter says
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08:02 EDTSJRShaw Communications CFO to retire
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September 23, 2014
06:48 EDTLTMLife Time Fitness REIT announcement coming soon, says Piper Jaffray
Piper Jaffray expects Life Time Fitness to make an announcement regarding board approval of moving forward with a REIT spin-off ahead of the company's Q3 results on October 23. Piper sees the announcement as the next catalysts for shares and recommends buying the stock at current levels. The firm thinks the stock could be worth $61 with a REIT structure, but adds "one could argue for a value above $70." Piper reiterates an Overweight rating on Life Time Fitness with a $61 price target.
06:07 EDTBHPBHP Billiton shedding 700 mining jobs in Queensland, Guardian reports
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September 22, 2014
13:01 EDTZZillow volatility flat as shares pullback into planned acquisition of Trulia
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September 18, 2014
10:00 EDTKOFOn The Fly: Analyst Downgrade Summary
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09:31 EDTKOFCoca-Cola Femsa downgraded to Neutral from Buy at UBS
05:25 EDTVOLVYVolvo reports August truck deliveries down 8% to 11,809
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September 17, 2014
10:00 EDTBHPOn The Fly: Analyst Downgrade Summary
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07:26 EDTZAmerican Enterprise Institute to hold a conference
3rd International Conference on Housing Risk to be held in Washington, D.C. on September 17-18.
05:26 EDTBHPBHP Billiton downgraded to Underperform from Neutral at Exane BNP Paribas
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