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Stock Market & Financial Investment News

News Breaks
July 2, 2014
10:00 EDTTRMB, OHI, HRL, CJES, BNPQY, VE, NGLS, MM, HOG, BMY, USB, SBS, DLAKY, EPB, BZHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BNP Paribas (BNPQY) downgraded to Neutral from Overweight at HSBC... Beazer Homes (BZH) downgraded to Neutral from Buy at Sterne Agee... Bristol-Myers (BMY) downgraded to Equal Weight from Overweight at Barclays... C&J Energy (CJES) downgraded to Equal Weight at Stephens... El Paso Pipeline (EPB) downgraded to Sell from Neutral at Goldman... Harley-Davidson (HOG) downgraded to Market Perform from Strong Buy at Raymond James... Hormel Foods (HRL) downgraded at Credit Suisse... Lufthansa (DLAKY) downgraded to Equal Weight from Overweight at Barclays... Millennial Media (MM) downgraded at Evercore... Omega Healthcare (OHI) downgraded to Neutral from Buy at Goldman... Saneamento Basico (SBS) downgraded to Sector Perform from Outperform at Scotia... Targa Resources Partners (NGLS) downgraded to Equal Weight at Barclays... Trimble (TRMB) downgraded to Neutral from Buy at Janney Capital... U.S. Bancorp (USB) downgraded at RW Baird... Veolia Environment (VE) downgraded to Equal Weight from Overweight at Morgan Stanley.
News For BNPQY;BZH;BMY;CJES;EPB;HOG;HRL;DLAKY;MM;OHI;SBS;NGLS;TRMB;USB;VE From The Last 14 Days
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January 28, 2016
07:00 EDTBMYBristol-Myers says CheckMate-141 Opdivo Phase 3 trial stopped early
Bristol-Myers Squibb announced that a randomized Phase 3 study evaluating Opdivo versus investigator's choice in patients with recurrent or metastatic platinum-refractory squamous cell carcinoma of the head and neck was stopped early because an assessment conducted by the independent Data Monitoring Committee concluded that the study met its primary endpoint, demonstrating superior overall survival in patients receiving Opdivo compared to the control arm. The company looks forward to sharing these data with health authorities soon. "With the results of CheckMate -141, Opdivo moves closer to providing a potential treatment option for patients with head and neck cancer, a cancer with a high unmet need and limited treatment options," said Michael Giordano, M.D., senior vice president, head of Oncology Development, Bristol-Myers Squibb. "We look forward to continuing to advance the Opdivo clinical development program in hard-to-treat cancers, such as head and neck cancer." CheckMate -141 investigators have been informed of the decision to stop the trial early and Bristol-Myers Squibb is working to ensure that eligible patients be provided the opportunity to continue or start treatment with Opdivo as part of the company's commitment to providing patient access to Opdivo, and characterizing long-term survival. The company will complete a full evaluation of the final CheckMate -141 data, and work with investigators on the future presentation and publication of the results.
06:59 EDTHOGHarley-Davidson sees Q1 motorcycle shipments of 78K-83K
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06:59 EDTHOGHarley-Davidson sees 2016 motorcycles shipments up 1%-3%
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06:58 EDTHOGHarley-Davidson reports Q4 EPS 22c, consensus 19c
Reports Q4 revenue $1.01B, consensus $1.03B.
January 27, 2016
14:34 EDTBMY, HOGNotable companies reporting before tomorrow's open
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14:17 EDTBMYBristol-Myers technical comments before earnings news
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13:55 EDTBMYBristol-Myers volatility elevated into Q4 and outlook
Bristol-Myers Black & Decker January weekly call option implied volatility is at 49, February is at 30; compared to its 52-week range of 18 to 43, suggesting large near term price movement into the expected release of Q4 results on January 28.
11:41 EDTHOGHarley-Davidson volatility elevated into Q4 and outlook
Harley-Davidson February call option implied volatility is at 48, March is at 41; compared to its 52-week range of 19 to 49, suggesting large near term price movement into the expected release of Q4 results on January 28.
11:31 EDTHOGEarnings Watch: Analysts remain bearish on Harley-Davidson ahead of Q4 earnings
Harley-Davidson (HOG) is scheduled to report fourth quarter results before the market open on Thursday, January 28, with a conference call scheduled for 9:00 am EDT. Harley-Davidson is a motorcycle manufacturer that produces heavyweight bikes and a complete line of motorcycle parts, accessories, and general merchandise. EXPECTATIONS: Analysts are looking for earnings per share of 19c on revenue of $1.03B, according to First Call. The consensus range for EPS is 11c-24c on revenue of $972.2M-$1.08B. LAST QUARTER: Harley-Davidson reported third quarter EPS of 69c, missing analysts' estimates for 78c, on revenue of $1.32B, which beat the consensus of $1.21B. The company said that dealers worldwide sold 72,178 new Harley-Davidson motorcycles in Q3 compared to 73,217 motorcycles in the year-ago period. In the U.S., dealers sold 48,918 new Harley-Davidson motorcycles in the quarter compared to sales of 50,167 motorcycles in the year-ago period. Harley-Davidson said at the time that it expects to ship 47,000-52,000 motorcycles in Q4 compared to 47,157 motorcycles shipped in the year-ago period. Additionally, the company lowered its motorcycle shipment guidance for fiscal 2015 to 265,000-270,000, which is about flat to down 2% from 2014, a decline from FY shipment guidance of 275,000-281,000 motorcycles. The company said it expects FY15 operating margin of approximately 16%-17% for the motorcycles segment, compared to prior guidance of 18%-19% for full-year operating margin. NEWS: On its last earnings conference call, Harley-Davidson said that due to headwinds in recalls, currency and ramped up competition, its Q3 performance did not meet expectations. CEO Matthew Levatich noted that "We know we can do better, and we will." Recently, The Wall Street Journal said that Levatich plans to ramp up the company's efforts to appeal to younger adults and women in general, planning to raise its marketing spending by 65% in 2016. STREET RESEARCH: On the day after its last earnings report, several analysts were bearish on Harley-Davidson, including BMO Capital and JPMorgan, which downgraded the stock. In November, Barclays analyst Felicia R. Hendrix said the company's management is "too optimistic near-term" on a recovery. On January 21, William Blair analyst Sharon Zackfia believes Harley-Davidson's domestic retail sales trends remained soft in Q4, even as the company began to lap currency-related discounting by competitors that began late last year. Zackfia sees a low-single-digit decline in retail sales growth in the U.S. in Q4, which would be the fifth consecutive quarter of retail sales declines. Zackfia sees Harley's 2016 production growth guidance being cut to 1%-2% from 3%-5%. PRICE ACTION: Over the last three months, Harley-Davidson shares are down about 19%. In late morning trading ahead of its Q4 earnings report, shares are down fractionally.
11:17 EDTHOGStocks with call strike movement; AMZN HOG
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07:31 EDTHRLHormel Foods announces stockholder approval for 2-for-1 stock split
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January 26, 2016
13:53 EDTHOGHarley-Davidson volatility elevated into Q4 and outlook
Harley-Davidson February call option implied volatility is at 48, March is at 39; compared to its 52-week range of 18 to 49, suggesting large near term price movement into the expected release of Q4 results on January 27.
10:54 EDTDLAKYLufthansa signs deal with drone maker DJI for aerial platforms
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January 25, 2016
15:15 EDTNGLSCenter Coast Capital reports 5.8% passive stake in Targa Resources Partners
10:00 EDTBMYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
09:52 EDTNGLSTarga Resources Partners upgraded to Buy from Accumulate at Tudor Pickering
09:48 EDTNGLSUBS to hold a bus tour
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08:27 EDTBMYBristol-Myers downgraded at BMO Capital
As noted earlier, BMO Capital downgraded Bristol-Myers to Market Perform from Outperform. The firm says that its positive thesis on clinical catalysts for the company's Opdivo drug has "mostly materialized." Target to $70 from $74.
08:04 EDTBMYAgilent's Dako announces FDA expanded approval of Dako PD-L1 IHC 28-8 pharmDx
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06:05 EDTBMYBristol-Myers downgraded to Market Perform from Outperform at BMO Capital
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