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Stock Market & Financial Investment News

News Breaks
November 28, 2012
05:55 EDTBKS, BKS, NJR, NJR, LTXC, LTXC, LQDT, LQDT, KR, KR, ISL, ISL, GBDC, GBDC, CBRL, CBRL, BECN, BECN, TIF, TIFCompanies reporting Before the Market Open on Wednesday, November 29
Notable companies reporting before the opening bell on Wednesday include Barnes & Noble (BKS), Beacon Roofing Supply (BECN), Cracker Barrel Old Country Store (CBRL), Golub Capital BDC (GBDC), Isle of Capri Casinos (ISL), Kroger (KR), Liquidity Services (LQDT), LTX-Credence (LTXC), New Jersey Resources (NJR), and Tiffany & Co (TIF).
News For BKS;BECN;CBRL;GBDC;ISL;KR;LQDT;LTXC;NJR;TIF From The Last 14 Days
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July 29, 2015
07:01 EDTTIFTiffany initiated with a Buy at Mizuho
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July 28, 2015
14:21 EDTBECNMasco spikes higher after quarterly results and analyst upgrade
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10:00 EDTBECNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aegerion (AEGR) upgraded to Buy from Hold at Jefferies... Ameren (AEE) upgraded to Neutral from Sell at Goldman... AutoNation (AN) upgraded to Buy from Neutral at Sterne Agee CRT... Beacon Roofing (BECN) upgraded to Outperform at Baird... BlackBerry (BBRY) upgraded to Equal Weight from Underweight at Morgan Stanley... Bojangles (BOJA) upgraded to Buy from Neutral at SunTrust... Boyd Gaming (BYD) upgraded to Neutral from Underperform at BofA/Merrill... Columbus McKinnon (CMCO) upgraded to Buy from Neutral at Sidoti... Danaher (DHR) upgraded to Overweight from Equal Weight at Morgan Stanley... Emerald Oil (EOX) upgraded to Hold from Sell at Wunderlich... Haemonetics (HAE) upgraded Outperform from Market Perform at Barrington... Jefferies sees entry point for Aegerion (AEGR), upgrades to Buy... Philips (PHG) upgraded to Buy from Hold at Societe Generale... Plum Creek Timber (PCL) upgraded to Buy from Neutral at DA Davidson... Raytheon (RTN) upgraded to Buy from Neutral at BofA/Merrill... SandRidge Energy (SD) upgraded to Hold from Sell at Wunderlich... Telecom Argentina (TEO) upgraded to Outperform from Market Perform at Raymond James... Teva (TEVA) upgraded to Outperform from Market Perform at BMO Capital... Triumph Bancorp (TBK) upgraded to Buy from Hold at Evercore ISI... Waste Management (WM) upgraded on valuation, rebounding businesses at Argus... Wisconsin Energy (WEC) upgraded to Buy from Neutral at Goldman.
08:25 EDTBECNBeacon Roofing upgraded to Outperform at Baird
As reported previously, Baird upgraded shares of Beacon Roofing to Outperform from Neutral citing the strategic fit of its acquisition of RSG. The firm cited the attractive cost of the acquisition and realistic synergies that will accrue over the next two years. Baird raised its price target to $40 from $33 on Beacon Roofing shares.
06:11 EDTBECNBeacon Roofing upgraded to Outperform from Neutral at Baird
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July 27, 2015
17:36 EDTBECNOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, with weakness attributed to the Chinese market suffering its worst one day loss in over eight years. The U.S. indexes remained in the negatives throughout the day as traders prepare for one of the heaviest weeks for this earnings season. ECONOMIC EVENTS: In the U.S., durable goods orders advanced 3.4% in June versus expectations for a 3.2% increase. Excluding transportation items, the core reading was up 0.8% against estimates for a 0.5% gain. In China, the Shanghai composite index fell 8.5% and the Shenzhen composite dropped 7%, with the moves generally attributed to concerns over growth and fears that the government may pull its market support. Note that Dow Jones quoted the country's top securities regulator this morning as saying China plans to increase stock purchases by the state. COMPANY NEWS: Shares of Teva (TEVA) jumped $10.15, or 16.41%, to $72.07 after the generic drugmaker dropped its pursuit of Mylan (MYL), opting instead to acquire Allergan's (AGN) global generic pharmaceuticals business for $40.5B. Allergan shares rose 6.09% for the session, and Mylan fell 14.51% to $56.37 while reiterating its commitment to pursue Perrigo (PRGO), whose shares gained 3.81% to $193.60. MAJOR MOVERS: Among the notable gainers was Wabtec (WAB), which rose $6.59, or 7.21%, to $97.93 after agreeing to buy Faiveley Transport for roughly $1.8B, noting that it expects EPS accretion in 2016. In other M&A news, Magnetek (MAG) finished the session up $17.27, or 53.55%, to $49.52 after Columbus McKinnon (CMCO) agreed to acquire the company for $50 per share, while Beacon Roofing Supply (BECN) jumped $2.62, or 8.71%%, to $32.70 after agreeing to buy Roofing Supply Group at a transaction value of about $1.1B. Also higher were shares of Xueda Education (XUE), which surged 50.63% after Xiamen Insight Investment announced a deal to purchase the company for $5.50 per American Depository Share. Xueda's positive move came in stark contrast to numerous Chinese stocks traded in New York, with Baidu (BIDU) slipping 4.16% and Alibaba (BABA) losing 2.01% after China's Shanghai composite index plunged overnight. Also lower was McGraw Hill Financial (MHFI), declining $6.01, or 5.69%, to $99.59 after agreeing to acquire SNL Financial for roughly $2.225B in cash. Additionally, GrubHub (GRUB) lost 8.37% to $30.99 following a downgrade from Cowen citing competitive concerns and market saturation. INDEXES: The Dow fell 127.94, or 0.73%, to 17,440.59, the Nasdaq lost 48.85, or 0.96%, to 5,039.78, and the S&P 500 declined 12.01, or 0.58%, to 2,067.64.
14:41 EDTBECNFollow-up: Beacon Roofing upgraded to Outperform at Raymond James
As previously reported, Raymond James upgraded Beacon Roofing to Outperform from Market Perform. The firm upgraded shares based on the attractive acquisition of privately held Roofing Supply Group and said the deal should improve long-term pricing dynamics.
14:13 EDTBECNBeacon Roofing upgraded to Outperform from Market Perform at Raymond James
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12:03 EDTBECNOn The Fly: Top stock stories at midday
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07:31 EDTBECNBeacon Roofing to acquire Roofing Supply Group for approx. $1.1B from CD&R
Beacon Roofing Supply announced that it has entered into a definitive merger agreement to acquire Roofing Supply Group, a roofing products distributor owned by investment firm Clayton, Dubilier & Rice, in a cash and stock transaction valued at approximately $1.1B. Under the terms of the agreement, RSG shareholders will receive approximately $286M in cash and $291M of Beacon common stock, and Beacon will refinance approximately $565M of RSG's net debt. Beacon will fund the cash portion of the purchase price through a new ABL Revolver, Term Loan B and a senior unsecured bond offering. The transaction is targeted to close on October 1, 2015. The transaction is expected to be immediately accretive to adjusted EPS and to generate annual run-rate synergies of approximately $50M. The tax-efficient transaction structure is expected to enable Beacon to retain approximately $130M in net operating losses, existing intangible deductions of approximately $190M and transaction-related deductions of approximately $50M. Beacon will finance the transaction with a new ABL Revolver, Term Loan B and a senior unsecured bond offering. Following completion of the transaction, Mr. Isabella will continue to serve as President and CEO of the combined company, and Mr. Buck will remain Chairman of the Board of Directors. Mr. Arvan will continue to manage the RSG business and report to Mr. Isabella. Philip Knisely, Chairman of RSG and an Advisor to CD&R Funds, and Mr. Sleeper will join the Board of Directors.
07:32 EDTBECNBeacon Roofing trading halted, pending news
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July 26, 2015
16:15 EDTKRKroger recalls seasonings due to possible Salmonella contamination
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July 24, 2015
17:33 EDTBKSS&P announces changes to S&P 400, 500, and 600 indices
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July 23, 2015
16:57 EDTLQDTLiquidity Services appoints Jorge Celaya as CFO
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July 22, 2015
14:37 EDTBECNHome improvement stocks rally after Owens Corning results, home sales data
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13:30 EDTNJRNew Jersey Resources approved to continue SAVEGREEN Project
New Jersey Natural Gas, the regulated subsidiary of New Jersey Resources, received approval from the New Jersey Board of Public Utilities to continue its energy-efficiency offerings under The SAVEGREEN Project through July 31, 2017. Launched in September 2009, SAVEGREEN offers NJNG customers programs that provide financial incentives for investments in energy-efficient equipment and whole-house improvements to reduce energy costs and increase comfort, as well as facility upgrades. These programs complement those administered by New Jersey’s Clean Energy Program and support the goals of the state’s Energy Master Plan to lower customer costs, improve natural gas energy efficiency and conservation, reduce emissions and encourage economic development. With the approval, NJNG will invest more than $75M over the next two years. The majority of SAVEGREEN programs remain unchanged, with some modifications mainly due to NJNG’s experience in the marketplace to better meet customers’ needs and the changing market dynamics.
08:32 EDTKRWestern Union, Kroger extend more than 30-year relationship
Western Union (WU) announced the extension of its more than 30-year relationship with The Kroger Co. (KR). This agreement gives customers the ability to send and receive Western Union Money Transfer transactions across the United States or across the globe to more than 200 countries and territories, in minutes. In addition, Customers can purchase money orders and pay their bills at more than 2,300 Kroger Family of Store locations across 34 states.
July 21, 2015
16:14 EDTLQDTLiquidity Services receives three months extension for contract with DLA
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July 20, 2015
08:33 EDTBKSBarnes & Noble says Nook Consumer business president Verrina to leave company
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08:32 EDTBKSBarnes & Noble names Frederic Argir as Chief Digital Officer
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