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Stock Market & Financial Investment News

News Breaks
October 15, 2012
10:06 EDTCF, KO, WFC, CBS, TZOO, PGR, HAS, HRS, CELG, BAM, BMCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BMC Software (BMC) downgraded to Market Perform from Outperform at Raymond James... Brookfield (BAM) downgraded to Hold from Buy at Canaccord... Celgene (CELG) downgraded to Perform from Outperform at Oppenheimer... Harris (HRS) downgraded to Sell from Neutral at Lazard Capital... Hasbro (HAS) downgraded to Sell from Neutral at Goldman... Progressive (PGR) downgraded to Sell from Neutral at Citigroup... Travelzoo (TZOO) downgraded to Neutral from Buy at Ascendiant Capital... CBS (CBS) downgraded o Neutral from Overweight at Atlantic Equities... Wells Fargo (WFC) downgraded to Neutral from Market Perform at Leerink... Coca-Cola (KO) downgraded to Underperform from Outperform at CLSA... CF Industries (CF) downgraded to Hold from Buy at Dahlman Rose.
News For BMC;BAM;CELG;HRS;HAS;PGR;TZOO;CBS;WFC;KO;CF From The Last 14 Days
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October 14, 2014
08:09 EDTWFCWells Fargo continues to see signs of steadily improving economy
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08:08 EDTWFCWells Fargo reports $300M reserve release due to improved credit quality
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08:03 EDTWFCWells Fargo reports Q3 EPS $1.02, consensus $1.02
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07:23 EDTCBSCBS more attractive than Disney, says Wells Fargo
Among media and cable stocks, Wells Fargo sees the least risk and most reward potential in CBS (CBS). The firm sees the least reward potential and most risk in Disney (DIS). The firm believes that the market is overestimating the ad declines for CBS, and it thinks that CBS' stock may have finally bottomed. Disney has a relatively expensive valuation and tough comps, added Wells Fargo, which keeps Outperform ratings on both stocks.
October 13, 2014
15:24 EDTWFCNotable companies reporting before tomorrow's open
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15:23 EDTKOCoca-Cola Amatil could sell water brand to Coca-Cola, AFR says
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13:40 EDTWFCWells Fargo October volatility increases into Q3 and guidance
Wells Fargo October call option implied volatility is at 31, November is at 20, January is at 19; compared to its 26-week average of 16 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 14.
09:06 EDTCBSNetflix, CBS sign distribution deal in Europe, Hollywood Reporter says
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07:19 EDTWFCAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
07:07 EDTCBSCBS sell-off brings 'interesting' entry point, says Piper Jaffray
Piper Jaffray says the recent pullback in shares of CBS provides an "interesting" entry point with the new broadcast season showing promise. Piper sees upside to 2015 consensus estimates and keeps an Overweight rating on CBS with a $75 price target.
06:44 EDTWFCRegulators seeking banks' auto loan data, Reuters reports
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00:04 EDTWFCBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
13:03 EDTWFCBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 10, 2014
13:17 EDTCBSNielsen to restate some TV rating due to software glitch, Variety reports
Nielsen (NLSN) acknowledged it uncovered a software error on October 6 that had resulted in TV ratings being allocated incorrectly among broadcast and syndication programming since March 2 and that it would restate the ratings accordingly to fix the errors, reported Variety. The company said 98% to 99% of ratings would not be affected by more than .05 of a ratings point and a person familiar with the situation said some TV networks have an expectation that some of their new fall programming will see a very slight uplift due to the restatement, the report noted. The big four broadcast networks are operated by CBS (CBS), Comcast (CMCSA), Disney (DIS) and 21st Century Fox (FOXA). Reference Link
12:05 EDTCFUSDA raises U.S. corn production estimate to 14.475B
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11:44 EDTPGRProgressive September operating EPS better than expected, says Wells Fargo
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08:49 EDTPGRProgressive reports September net premiums written up 5% to $1.42B
Reports September net premiums earned up 6% to $1.4B. Reports September net income up 49% to $92M. Reports September net income per share 16c vs. 10c last year.
08:41 EDTCELGCelgene reports apremilast significantly improved preexisting psoriasis in study
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08:39 EDTCELGCelgene says data show Apremilast treatment resulted in improved quality of life
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06:44 EDTWFCWells Fargo to pay $5M to settle discrimination allegations
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