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News Breaks
January 30, 2013
10:24 EDTBOBE, CRESY, TPX, VIAB, ADSK, WDR, VHS, MTW, NSC, NNA, KBH, CHK, AKSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bob Evans (BOBE) upgraded to Overweight from Equal Weight at Stephens... Chesapeake (CHK) upgraded to Buy from Hold at Stifel Nicolaus... KB Home (KBH) upgraded to Outperform from Neutral at Credit Suisse... Navios Acquisition (NNA) upgraded to Buy from Hold at Deutsche Bank... Norfolk Southern (NSC) upgraded to Overweight from Neutral at Atlantic Equities... Manitowoc (MTW) upgraded to Buy from Hold at BB&T... Vanguard Health (VHS) upgraded to Buy from Hold at Deutsche Bank... Waddell & Reed (WDR) upgraded to Neutral from Sell at Goldman... Chesapeake (CHK) upgraded at Stifel Nicolaus... Autodesk (ADSK) upgraded to Outperform from Neutral at Wedbush... Viacom (VIAB) upgraded to Outperform from Neutral at Cowen... Tempur-Pedic (TPX) upgraded to Buy from Hold at KeyBanc... Cresud SA (CRESY) upgraded to Outperform from Market Perform at Raymond James... AK Steel (AKS) upgraded to Neutral from Underperform at Macquarie.
News For BOBE;CHK;KBH;NNA;NSC;MTW;VHS;WDR;ADSK;VIAB;TPX;CRESY;AKS From The Last 14 Days
Check below for free stories on BOBE;CHK;KBH;NNA;NSC;MTW;VHS;WDR;ADSK;VIAB;TPX;CRESY;AKS the last two weeks.
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September 17, 2014
12:08 EDTAKSSteel stocks rally as U.S. Steel, Nucor provide improved outlooks
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12:01 EDTADSKAdobe falls after Q4 revenue outlook trails consensus
Shares of creative software maker Adobe Systems (ADBE) are falling after it guided to fourth quarter revenue below analysts' consensus view. WHAT'S NEW: Last night, Adobe reported Q3 adjusted earnings per share of 28c and revenue of $1.005B, compared to analysts' consensus estimates of 26c and 1.02B, respectively. Adobe exited Q3 with 2.81M creative cloud subscriptions, a sequential increase of 502,000. WHAT'S NOTABLE: Adobe forecast Q4 adjusted EPS of 26c-32c, versus consensus of 31c. The company sees Q4 revenue of $1.025B-$1.075B, below the consensus forecast of $1.09B. The company expects net new creative cloud subscriptions to grow sequentially in Q4 to slightly exceed its target of 1M. ANALYST REACTION: This morning, analyst commentary was positive, with several firms recommending buying shares of Adobe on any weakness. Research firm Stern Agee was among them, stating that Adobe's revenue miss was driven by a shift of perpetual licenses to term contracts. Sterne Agee said that Adobe's deferred revenue outperformed, which should give long-term investors confidence in the name. It believes the long-term transition story is intact, and expects upside to revenues in FY15. The firm kept a Buy rating on the shares with a price target of $85. Two other firms, JMP Securities and BofA Merrill Lynch also recommended buying Adobe amid its post-earnings weakness. PRICE ACTION: Near noon, Adobe fell $2.74, or nearly 4%, to $68. Despite today's pull-back, the shares have gained about 40% over the past 12 months. ANOTHER TO WATCH: Autodesk, (ADSK), which also serves software customers in the digital media and entertainment industries, is down fractionally to $54.54.
09:10 EDTAKSOn The Fly: Pre-market Movers
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09:04 EDTVIABAmericas Media ad growth estimates lowered at Nomura
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September 16, 2014
14:34 EDTAKSAK Steel sees Severstal Dearborn acquisition accretive to earnings
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07:43 EDTWDRRBC Capital to hold a conference
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September 15, 2014
16:12 EDTNNANavios Acquisition initiated with a Buy at Deutsche Bank
Target $5.50.
12:31 EDTMTWTerex hits 52-week low after cutting fiscal 2014 profit outlook
Shares of Terex (TEX), a diversified global equipment manufacturer of machinery products, are falling after the company cut its fiscal year 2014 earnings per share outlook. The company's third quarter EPS view of 55c-65c also came in far below analysts' consensus estimates of 79c. WHAT'S NEW: This morning, Terex lowered its FY14 EPS view to $2.35-$2.50 from $2.50-$2.80, below analysts' consensus of $2.56. The company said the primary driver of the lowered guidance is weakness in the Cranes segment. Despite a positive trend in book-to-bill ratios over the first half of 2014, the Cranes order rate dropped significantly in July and August. Additionally, Cranes customers in developing markets are struggling to secure financing for orders scheduled for delivery in the second half of 2014. Ron DeFeo, Terex Chairman and CEO said, “We do not take lightly the need to adjust market expectations. Admittedly, the global Cranes marketplace has been challenging to forecast. During 2014, we have certainly seen more muted end markets in Cranes than we originally contemplated back in February. While we do see positive trends in certain aspects of our other segments, this has been more than offset by the recent weakness in Cranes end markets. The balance of our guidance remains intact, including our guidance for Free Cash Flow of between $200M-$250M in 2014. We also remain positive on the longer term prospects for EPS growth in our business, driven in no small part by the internal improvement initiatives underway throughout our company." ANALYST REACTION: This morning, UBS placed a Neutral rating and 12-month price target of $41 on shares of Terex. UBS believes that Terex could be gearing up to announce order cancellations. UBS said the deterioration in the Cranes segment, in addition to new questions over first half 2014 bookings, will be disappointing to investors. Despite that, UBS expects progression of projects in the Gulf Coast to drive a delayed Crane cycle, one that will result in improved order patterns in 2015 and 2016. UBS expects Terex' guidance to weigh on Manitowoc Company (MTW) and H&E Equipment Services (HEES), both of which are exposes to Crane markets. PRICE ACTION: In early afternoon trading, Terex fell $2.32, or about 6.7%, to $32.38 on more than twice its average daily trading volume. Earlier in the session, the stock hit a 52-week low of $32.00. OTHERS TO WATCH: Terex' peers also fell, with Manitowoc Company (MTW) down over 3.3%, and H&E Equipment Services (HEES) down about 1.2%.
11:21 EDTTPXTempur Sealy management to meet with Stifel
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11:21 EDTTPXTempur Sealy management to meet with Piper Jaffray
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09:16 EDTMTWOn The Fly: Pre-market Movers
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08:50 EDTMTWManitowoc down 3% after peer Terex cuts FY14 earnings guidance
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September 12, 2014
08:05 EDTCHKChesapeake price target lowered to $30 from $35 at Oppenheimer
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September 11, 2014
10:49 EDTADSKHigh option volume stocks
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08:04 EDTAKSAK Steel 35M share Secondary priced at $9.00
BofA/Merrill, Credit Suisse and JPMorgan acted as joint book running managers for the offering.
September 10, 2014
10:01 EDTVIABViacom and Sony reach internet distribution agreement
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07:01 EDTVIABViacom closes acquisition of Channel 5
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September 9, 2014
13:42 EDTCHKChesapeake must face racketeering charges in Michigan trial, Reuters says
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10:25 EDTKBHGundlach sees homebuilder stocks continuing to disappoint
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September 8, 2014
06:51 EDTAKSAK Steel files to sell 35M shares of common stock
The joint book-running managers for the common stock offering are BofA Merrill Lynch, Credit Suisse and J.P. Morgan. The joint book-running managers for the notes offering are Credit Suisse, Citigroup and J.P. Morgan.
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