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Stock Market & Financial Investment News

News Breaks
December 14, 2012
10:00 EDTWYNN, ENDP, CIEN, ETH, IPAR, NDAQ, EZPW, CME, CLWR, ADBE, LEAP, XOM, BP, NOVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BP (BP) downgraded to Neutral from Outperform at Credit Suisse... CME Group (CME) downgraded to Underperform from Market Perform at Keefe Bruyette... Ciena (CIEN) downgraded to Market Perform from Outperform at BMO Capital... Exxon Mobil (XOM) downgraded to Neutral from Buy at Goldman... EZCORP (EZPW) downgraded to Neutral from Buy at Nomura... Endo Health (ENDP) downgraded to Underperform from Hold at Needham... Leap Wireless (LEAP) downgraded to Perform from Outperform at Oppenheimer... NASDAQ (NDAQ) downgraded to Market Perform from Outperform at Keefe Bruyette... Wynn Resorts (WYNN) downgraded to Neutral from Buy at UBS... Ethan Allen (ETH) downgraded to Hold from Buy at Stifel Nicolaus... Adobe (ADBE) downgraded to Neutral from Buy at Janney Capital... Inter Parfums (IPAR) downgraded to Average from Above Average at Caris... National Oilwell (NOV) downgraded to Neutral from Buy at Guggenheim... Clearwire (CLWR) downgraded to Neutral from Buy at Guggenheim.
News For BP;CME;CIEN;XOM;EZPW;ENDP;LEAP;NDAQ;WYNN;ADBE;IPAR;NOV;CLWR;ETH From The Last 14 Days
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February 1, 2016
10:25 EDTENDPWilliaOptions with increasing implied volatility: WMB ENDP RAD
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10:19 EDTBPBP appoints Lamar McKay to deputy group chief executive
BP announced the appointment of Lamar McKay to the new position of Deputy Group Chief Executive. McKay, currently chief executive of BP's Upstream segment and a 35-year veteran of BP, will be based in London and take up the role following a suitable handover period. McKay will be succeeded as Upstream chief executive by Bernard Looney, currently chief operating officer, production, in the Upstream segment. In addition to assuming some duties currently borne by BP's Group Chief Executive, McKay's responsibilities will include strategy and long-term planning, safety and operational risk, technology, and corporate governance - including ethics and compliance. BP America will continue to report to him. These appointments headline a reorganisation of BP's executive team that includes other adjustments which will follow the retirement of Katrina Landis, executive vice president of corporate business activities, who leaves the company on May 1 following a career of 24 years with BP. Landis will not be replaced on the executive team and her current role's responsibilities will be assigned to other members of the team. Reference Link
08:39 EDTXOMExxon Mobil volatility elevated into Q4 and outlook
Exxon Mobil February weekly call option implied volatility is at 31, February is at 29, March is at 27; compared to its 52-week range of 13 to 40, suggesting large near term price movement into the expected release of Q4 results on February 2.
06:52 EDTWYNNMacau reports January casino revenue down 21.4% to 18.67B patacas
Macau's gaming bureau reported January casino revenue in the region fell 21.4% to 18.67B patacas. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN), and Melco Crown (MPEL).
January 29, 2016
15:10 EDTXOMExxon Mobil volatility elevated into Q4 and outlook
Exxon Mobil February weekly call option implied volatility is at 33, February is at 29, March is at 27; compared to its 52-week range of 13 to 40, suggesting large near term price movement into the expected release of Q4 results on February 2.
09:35 EDTWYNNNevada reports Statewide December gaming win up 3.31% to $982.06M
The state also reports Las Vegas Strip December gaming win up 8.2% compared to last year at $600.75M compared to last year. Publicly traded companies in the space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
07:36 EDTXOM, BPAnalysts still predicting mergers as oil slump drags on, WSJ reports
Bankers and analysts have been predicting a wave of merger activity will come almost since crude prices began to fall from over $100 a barrel, but the only big acquisition by an oil major so far has been Shell's (RDS.A) purchase of BG Group (BRGYY), said The Wall Street Journal, which added that analysts still believe deal-making is likely to return this year if prices continue to languish. With Chevron (CVX) set to report today and its big peers soon to follow, analysts are expecting the four biggest publicly traded Western oil companies to have their weakest combined profits since 1998, the Journal noted. The report noted that U.S. shale oil producers, such as Apache (APA) and Whiting Petroleum (WLL), were previously targeted though potential sellers were reluctant to accept offers as they hoped for a rebound in oil prices and potential buyers wondered if any deal struck would look expensive if crude prices fell further, but "both impediments are gone now," the Journal contends. Reference Link
January 28, 2016
10:55 EDTBP, XOMOPEC delegates say no plan for meeting Russia about production, Bloomberg says
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07:07 EDTNDAQNasdaq reports Q4 EPS 89c, consensus 89c
Reports Q4 revenue $536M, consensus $530.16M. The company initiated 2016 non-GAAP operating expense guidance of $1.11B-$1.16B
07:04 EDTNDAQNasdaq CFO Lee Shavel to retire
Nasdaq announced that Lee Shavel, CFO and EVP, Corporate Strategy will retire, effective March 31. Shavel has accepted a position to join the board of a public company. Ron Hassen, SVP and Corporate Controller, Nasdaq, will serve as interim CFO, as the company conducts an active search to fill the role. Hassen has been with Nasdaq for nearly 15 years and previously served as interim CFO.
January 27, 2016
19:30 EDTWYNNOn The Fly: After Hours Movers
UP AFTER EARNINGS: Facebook (FB), up 11.4%... Mellanox (MLNX), up 6.4%... Paypal (PYPL), up 5%... Crown Castle (CCI), up 2.2%... Citrix (CTXS), up 2.4%... Las Vegas Sands (LVS), up 1%... SanDisk (SNDK), up 1%. ALSO HIGHER: Radius Health (RDUS), up 1.2% after announcing a clinical collaboration with Novartis (NVS)... LinkedIn (LNKD) is up 2.4%, Alphabet (GOOG, GOOGL) is up 2.2% and 2.6%, respectively, Netflix (NFLX) is up 1%, Amazon.com (AMZN) is up 2%, and Twitter (TWTR) is up marginally after Facebook reported quarterly results... MGM Resorts (MGM) is up 2.2% and Wynn Resorts (WYNN) is up 2.2%. DOWN AFTER EARNINGS: ServiceNow (NOW), down 16.5%... eBay (EBAY), down 12.8%... United Rentals (URI), down 9.7%... Juniper Networks (JNPR), down 9.6%... Silicon Graphics (SGI), down 9.1%... Discover Financial (DFS), down 7.4%... InvenSense (INVN), down 6.1%... Core Laboratories (CLB), down 4.3%... Vertex Pharmaceuticals (VRTX), down 1.1%. ALSO LOWER: Incyte (INCY), down 12.8% after announcing that it will halt the Phase 2 sub-study of ruxolitinib or placebo in combination with regorafenib after a planned interim analysis of the high CRP subgroup demonstrated that ruxolitinib plus regorafenib did not show a sufficient level of efficacy to warrant continuation.
19:17 EDTWYNNMacau-linked casino names climb after Las Vegas Sands posts quarterly results
Casino stocks with exposure to Macau are higher in after-hours trading after Las Vegas Sands reported fourth quarter sales and profit. WHAT'S NEW: Las Vegas Sands reported Q4 adjusted earnings per share of 62c and hold-normalized adjusted EPS of 64c, against analyst estimates of 65c, and Q4 revenue of $2.86B, below consensus expectations of $2.92B. The company reported Four Seasons Macau adjusted property Earnings Before Income Tax, Depreciation, and Amortization, or EBITDA, was down 29% to $65.8M in Q4, while Sands Macau Q4 adjusted property EBITDA was $51.3M. In Singapore, the Marina Bay Sands adjusted property EBITDA was $338.2M, and on a hold-normalized basis, adjusted property EBITDA was $374.8M. WHAT'S NOTABLE: Las Vegas Sands also increased its quarterly dividend to 72c per share from 65c per share. During the company's earnings conference call, CEO Sheldon Adelson said management has "steadfast confidence" in both the company and Macau's future. Adelson added that the company is optimistic in returning excess capital to shareholders through share repurchases and dividends. PRICE ACTION: Shares of Las Vegas Sands are higher by roughly 1% to $42.00 in after-hours trading. OTHERS TO WATCH: Following Las Vegas Sands' Q4 results, Wynn Resorts (WYNN) is up 2.44% and MGM Resorts (MGM) is up 2.21%.
16:22 EDTETHEthan Allen raises quarterly dividend 21% to 17c per share
Ethan Allen Interiors announced its board of directors has declared a regular quarterly cash dividend of 17c per share, an increase of 21%, which will be payable to shareholders of record as of April 11 and will be paid on April 25.
14:07 EDTWYNNWynn Resorts says Macau contractor disputes assessment of damages
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12:35 EDTBPBP management to meet with Evercore ISI
Meeting to be held in New York on February 3 hosted by Evercore ISI.
10:10 EDTXOMActive calls: XOM AAPL SPY BAC UUP
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10:00 EDTCIENOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Arista Networks (ANET) initiated with a Buy at Citi... Brocade (BRCD) initiated with a Neutral at Citi... CBL & Associates (CBL) initiated with an Underperform at Boenning & Scattergood... Caleres (CAL) initiated with a Hold at BB&T... Ciena (CIEN) initiated with a Neutral at Citi... Fitbit (FIT) initiated with a Buy, $35 target at Citi... Genesco (GCO) initiated with a Hold at BB&T... Infinera (INFN) initiated with a Buy at Citi... Nabriva Therapeutics (NBRV) initiated with a Buy at Gabelli... SanDisk (SNDK) initiated with a Buy at Citi... Seagate (STX) initiated with a Sell at Citi... Tanger Factory (SKT) initiated with an Underperform at Boenning & Scattergood... Taubman Centers (TCO) initiated with a Neutral at Boenning & Scattergood... WP Glimcher (WPG) initiated with an Underperform at Boenning & Scattergood... Western Digital (WDC) initiated with a Buy at Citi... Yirendai (YRD) initiated with a Buy at Needham.
09:22 EDTETHEthan Allen upgraded to Buy from Hold at Gabelli
Gabelli upgraded Ethan Allen to Buy and increased its price target to $34 from $30. Analyst Justin Bergner said Ethan Allen reported a "blowout quarter" with strong orders, sales, and margins on the heels of a new promotional campaign offering 30% off one product in October/November. The analyst said the response was so strong it supports further traffic growth, brand reinvigoration, and margin improvement.
08:32 EDTNDAQIteris moves to NASDAQ
Iteris (ITI) announced that it has met the listing criteria for the NASDAQ (NDAQ) Capital Market and will move its listing from NYSE MKT to the NASDAQ Capital Market, effective with the start of trading on February 8, 2016. Iteris will continue to trade under its existing ticker symbol "ITI". Iteris common stock will trade on the NYSE MKT until the market close on February 5, 2016.
06:36 EDTCIENCiena initiated with a Neutral at Citi
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