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Stock Market & Financial Investment News

News Breaks
March 20, 2012
16:16 EDTAZN, STP, NSRGY, TRGT, YGE, MYGN, TSL, RIO, BHP, TIFOn The Fly: Closing Wrap
Stocks on Wall Street were lower on concerns of slowing growth in China. The futures barely reacted to February U.S. housing data, which showed starts were lower than expected but building permits were higher. The futures action led to a lower open for the broader market. The averages found a level in the first 30 minutes of trading where they sat and eventually began to drift higher. The market moved generally higher until the last hour of the session but the averages were never able to retake the baseline to continue their six day winning streak... ECONOMIC EVENTS: In the U.S., homebuilders began construction on a seasonally adjusted annual rate of 698,000 homes in February, down 1.1% from a month ago. Building permits jumped 5.1%, versus expectations for an increase of 0.6%. In China, a report said that home prices dropped in 45 Chinese cities last month and the country increased its gas and diesel prices for the second time in less than six weeks... MARKET NEWS: BHP Billiton (BHP) was widely quoted as stating that Chinese iron ore demand growth was "flattening," but the company came out and said that the slowdown had been discussed before and was not new information. Also, both BHP and rival Rio Tinto (RIO) confirmed plans to expand production in China even further. Still, BHP's confirmation along with other signals of a slowdown in China was attributed as a significant catalyst for today's market pull-back... Saudi Arabia said it is ready to meet any shortfalls in global oil supplies which, along with China's news, caused oil prices to fall 2%, weighing on the Energy sector of the S&P... Amazon.com (AMZN) moved up 3.67% following its $775M purchase of Kiva Systems, a maker of robots and other material handling technology... MAJOR MOVERS: Among the notable gainers was Tiffany (TIF), up $4.59, or 6.68%, to $73.27, after its earnings missed expectations but its FY12 guidance beat the Street's view. Also higher were a number of Chinese solar companies, including Yingli Green Energy (YGE), up 46c, or 12.07%, to $4.27, Suntech (STP), up 44c, or 14.06%, to $3.57, and Trina Solar (TSL), up 61c, or 7.85%, to $8.38, following the U.S. Commerce Department's decision to impose tariffs of less than 5% on the companies, which was well below the 20% to 30% that was forecast by some analysts. Noteworthy losers included Targacept (TRGT), down $2.22, or 29.96%, to $5.19, after it abandoned plans to seek approval for a depression drug it was developing in partnership with AstraZeneca (AZN), and Myriad Genetics (MYGN), down $1.33, or 5.19%, to $24.31, after the Supreme Court ruled that two patents held by Nestle (NSRGY) for certain personalized medicine products are invalid because the patents utilize "laws of nature" without adding significant additional features to those laws... INDICES: The Dow fell 68.94, or 0.52%, to 13,170.19; the Nasdaq lost 4.17, or 0.14%, to 3,074.15; and the S&P 500 dropped 4.23, or 0.30%, to 1,405.52.
News For BHP;RIO;TIF;YGE;STP;TSL;TRGT;AZN;MYGN;NSRGY From The Last 14 Days
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February 2, 2016
14:32 EDTMYGNNotable companies reporting after market close
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11:16 EDTTIFTiffany management to meet with Jefferies
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06:43 EDTBHPBHP may lose 'solid A' status amid commodities rout, Bloomberg says
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February 1, 2016
13:39 EDTTIFJP Morgan reports 6.8% passive stake in Tiffany
10:02 EDTTIFOn 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.
09:24 EDTTIFTiffany's IDR downgraded by Fitch to BBB+; outlook Stable
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06:22 EDTTIFRestoration Hardware downgraded to Market Perform from Outperform at Cowen
Cowen analyst Oliver Chen downgraded Restoration Hardware (RH) to Market Perform saying a slowdown in high-end consumer spending brings risk to 2016 estimates. The analyst cut his price target for the shares to $64 from $105. Chen also downgraded Tiffany (TIF) this morning.
06:18 EDTTIFTiffany downgraded to Market Perform from Outperform at Cowen
Cowen analyst Oliver Chen downgraded Tiffany to Market Perform saying global macroeconomic weakness brings downside risk to comps. The analyst lowered his price target for the shares to $70 from $75.
January 29, 2016
07:11 EDTAZNAllergan enters into global agreement with AstraZeneca for ATM-AVI
Allergan announced that it has entered into a global agreement with AstraZeneca to develop and commercialize ATM-AVI, an investigational, fixed-dose antibiotic combining aztreonam and avibactam. Together, the two companies will evaluate the combination to treat serious infections caused by metallo betalactamase MBL-producing Gram-negative pathogens, a difficult-to-treat sub-type of carbapenem-resistant Enterobacteriaceae, or CRE, for which there are currently very limited treatments, thus presenting a new treatment option for patients with MBL-producing pathogens. Under the terms of the agreement, Allergan will maintain commercialization rights in the U.S. and Canada and AstraZeneca will maintain commercialization rights in all other countries.
January 28, 2016
05:34 EDTTSLTrina Solar announces shipment of 57.1MW solar modules to solar project in Japan
Trina Solar announced that it has begun shipping 57.1 MW of solar modules to Toyo Engineering Corporation for use in the Furukawa Mega Solar Project located in Osaki City, Miyagi Prefecture, Japan. The delivery of solar modules is scheduled to be completed before the end of the third quarter of 2016. The Project, developed by Pacifico Energy Furukawa G.K., is being constructed on an abandoned golf course in Osaki and is expected to be completed and commissioned in the fourth quarter of this year. The clean electricity that the Project will generate will be purchased by Tohoku Electric Power company to energize the region.
January 27, 2016
10:00 EDTBHPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Airlines (AAL) upgraded to Buy from Neutral at UBS... Armstrong World (AWI) upgraded on valuation at BB&T... Autoliv (ALV) upgraded to Outperform from Neutral at Baird... BHP Billiton (BHP) upgraded to Overweight from Equal Weight at Morgan Stanley... BorgWarner (BWA) upgraded to Outperform from Neutral at Baird... Boyd Gaming (BYD) upgraded on valuation at Sterne Agee CRT... CF Industries (CF) upgraded to Outperform from Underperform at CLSA... Deutsche Boerse (DBOEY) upgraded to Neutral from Underperform at Credit Suisse... Diamond Offshore (DO) upgraded to Neutral from Sell at Clarksons Platou... Exelon (EXC) upgraded to Neutral from Sell at Citi... FCB Financial (FCB) upgraded to Buy from Neutral at Guggenheim... Flushing Financial (FFIC) upgraded to Buy from Hold at Sandler O'Neill... Hawaiian Holdings (HA) upgraded to Buy from Hold at Deutsche Bank... Huntington Bancshares (HBAN) upgraded to Neutral from Underperform at Macquarie... Imperva (IMPV) upgraded to Outperform from Market Perform at JMP Securities... Lockheed Martin (LMT) upgraded to Outperform from Peer Perform at Wolfe Research... McDonald's (MCD) upgraded to Buy from Hold at Argus... Munich Re (MURGY) upgraded to Overweight from Equal Weight at Morgan Stanley... NextEra Energy (NEE) upgraded to Conviction Buy from Buy at Goldman... PG&E (PCG) upgraded to Buy from Neutral at Goldman... Panera Bread (PNRA) upgraded to Buy from Neutral at BTIG... Raptor Pharmaceuticals (RPTP) upgraded to Buy from Neutral at Citi... Siemens (SIEGY) upgraded to Equal Weight from Underweight at Barclays... Sprint (S) upgraded to Perform from Underperform at Oppenheimer... Stryker (SYK) upgraded to Buy from Hold at Brean Capital... Super Micro Computer (SMCI) upgraded to Positive from Neutral at Susquehanna... Talmer Bancorp (TLMR)upgraded to Outperform from Market Perform at Keefe Bruyette... Terex (TEX) upgraded to Neutral from Underweight at JPMorgan... Transocean (RIG) upgraded to Neutral from Sell at Clarksons Platou... Washington Trust (WASH) upgraded to Buy from Neutral at Compass Point... Yara (YARIY) upgraded to Buy from Hold at Berenberg.
08:00 EDTTIFTiffany, Coty announce new fragrance agreement
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06:14 EDTBHPBHP Billiton upgraded to Overweight from Equal Weight at Morgan Stanley
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January 26, 2016
19:16 EDTRIORio Tinto to sell Mount Pleasant thermal coal assets for $224M plus royalties
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January 25, 2016
17:37 EDTBHPVale, BHP to be guarantors of any Samarco deal, Reuters says
Vale (VALE) and BHP Billiton (BHP) will be financial guarantors of any accord reached between Brazil and the two companies' Samarco joint venture, reports Reuters, citing statements from the country's attorney general Luis Adams. Reference Link
10:22 EDTTIFOptions with decreasing implied volatility
Options with decreasing implied volatility: SRPT SPWR NFLX CREE FFIV ISRG TIF MXIM QIHU IBM
10:09 EDTTSLTrina Solar downgraded to Equal Weight at Morgan Stanley
As previously reported, Morgan Stanley analyst Sheng Zhong downgraded Trina Solar (TSL) to Equal Weight from Overweight and set a $11.10 price target on the shares as the analyst expects the stock to be range-bound under the price of $11.6 in cash per ADS proposed by Chairman's recent privatization proposal. The analyst, who still prefers module makers, named JinkoSolar (JKS) as the top pick in the solar space.
09:58 EDTTSLTrina Solar downgraded to Equal Weight from Overweight at Morgan Stanley
09:38 EDTTIFTiffany management to meet with Oppenheimer
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06:53 EDTAZNGlaxo, Astra, J&J partner with universities in drug research fund, Reuters says
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