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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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July 21, 2014
09:11 EDTHASHasbro to launch 'major' game initiatives in Q3, Q4
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09:10 EDTHASOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
08:53 EDTHASHasbro reaffirms FY15 cost savings goal of $100M
Says focused on growing games business in the long-term across all platforms. Says the company's Q2 performance positions the firm well to "successfully execute" plans for the rest of the year and beyond. Says the company's cash position is strong and inventories are "well positioned" for the upcoming holiday season and 2H14. Continues to expect FY14 underlying tax rate of 26%-27%. Says U.S business is improving and foresees "good" POS momentum entering 2H14. Says continues to return value to shareholders and says this level of activity is higher than last year. Comments made during the company's Q2 earnings conference call.
08:36 EDTWFCWells Fargo downgraded to Hold from Buy at Rafferty Capital
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08:30 EDTHASCorrection: Hasbro comments on savings from last quarter
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07:57 EDTHASHasbro, Shapeways partner to sell artwork based on 'MLP' franchise
Shapeways announced on its website that it has teamed up with Hasbro to launch SuperFanArt, "a website that enables fans inspired by Hasbro brands to showcase their artwork and sell their 3D printed designs there and on Shapeways. SuperFanArt grants the passionate and talented Hasbro brand fan base and Shapeways community a license to create exciting new art and product offerings. The first license is granted to a select number of 3D artists to create artwork based on My Little Pony." []:[http://www.shapeways.com/discover/superfanart/]
06:33 EDTHASHasbro reports Q2 Boys segment sales up 32% to $335.8M
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06:32 EDTHASHasbro reports Q2 U.S. and Canada sales down 2% to $383M
Reports Q2 International sales up 17% to $396.8M; Reports Q2 Entertainment and Licensing sales up 35% to $47.7M.
06:31 EDTHASHasbro reports Q2 adjusted EPS 36c, consensus 36c
Reports Q2 revenue $829.26M, consensus $838.97M
July 18, 2014
12:21 EDTCBSCable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
11:39 EDTKOCoca-Cola downgraded to Hold from Buy at Societe Generale
09:12 EDTKOCoca-Cola July weekly volatility elevated into Q2 and outlook
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08:21 EDTCBSTime Warner merger could change Warner Bros. spot in tv landscape, WSJ says
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07:05 EDTCBSCBS CEO says will examine CNN if Time Warner puts up for sale, Reuters says
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July 17, 2014
10:55 EDTHASMattel topples after Q2 earnings miss estimates
Shares of global toy product manufacturer Mattel (MAT), are toppling over after the company's second quarter earnings results fell below analysts' consensus. WHAT'S NEW: Mattel's reported Q2 earnings per share of 8c, which was not comparable to a consensus of 18c since the company said its EPS number included a tax benefit of 11c per share and a negative impact of 7c per share of MEGA Brands acquisition and integration costs. Excluding both of these items, EPS was 3c per share. Mattel's Q2 revenue was $1.06B, which missed analysts' consensus estimates of $1.19B. For Q2, the company reported that its Girls and Boys Brands sales were down 13%, Fisher-Price Brands sales were down 17%, American Girl Bands revenue was up 6% and revenue from its Construction and Arts & Crafts Brands was $61.6M. WHAT'S NOTABLE: During its earnings conference conference call, Mattel said that it plans to increase advertising spending in the second half of the year to build momentum for key brands. It sees improving global trends in point-of-sale but says the company still has a lot of work to do to improve those trends. As Mattel looks to the third quarter, it sees continued challenges from current headwinds. With the MEGA brands deal now closed, the company aims to improve profitability of MEGA brands on a global basis and believes the acquisition will be accretive to earnings in fiscal year 2015. It expects lower international sales and is investing heavily in markets in Russia and China. Mattel is looking to maintain gross margins in the low to mid-50% range in near term. It noted that it aims to achieve a modest increase in SG&A due to severance and ongoing growth investments, excluding the MEGA Brands acquisition. Inventory fair value adjustment related to existing MEGA Brands-owned inventory should wind down in Q3, the company said. Amortization is expected to decrease to $17M in 2015 and $9M in 2016. PRICE ACTION: Shares of Mattel are down $2.31, or 5.92%, to $36.72 in morning trading. OTHERS TO WATCH: Mattel peer Hasbro (HAS), which reports quarterly earnings on July 21, is relatively flat at $52.59. JAKKS Pacific (JAKK) is up almost 1.5% to $8.20 and and LeapFrog (LF) is up 3.02% to $7.66.
08:42 EDTCBSCBS, Yahoo among potential CNN buyers if Time Warner divests, WSJ says
If Time Warner (TWX) were to divest CNN, which has been raised as a possiblity given the interest in Time Warner expressed by Fox News owner 21st Century Fox (FOXA), the "long list of potential buyers" would include CBS (CBS), Yahoo (YHOO) and Bloomberg LP, said The Wall Street Journal, citing media analysts and executives. Reference Link
08:03 EDTTZOOTravelzoo reports Q2 total unduplicated North America, Europe subscribers 23.7M
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08:01 EDTTZOOTravelzoo reports Q2 EPS 30c, consensus 29c
Reports Q2 revenue $36.9M, consensus $39.58M. The company said, "In North America, our revenues declined due to lower Local and Search revenues, as previously announced. In Europe, our revenues and operating income increased. Europe contributed 43% of our operating income this quarter. We continue to invest in mobile products and in our new hotel booking platform."
07:14 EDTWFCWells Fargo CEO John Stumpf says economy stronger than people think
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06:19 EDTKOCoca-Cola to invest over $8.2B in Mexico over six years, WSJ reports
Coca-Cola Mexico President Francisco Crespo announced during a ceremony in Toluca, Mexico, that the company will invest over $8.2B in Mexico over the next six years along with its eight local bottlers, the Wall Street Journal reports. The investment comes despite a 12% tax Mexico has placed on full-calorie sodas, teas and juices. Reference Link
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