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Stock Market & Financial Investment News

News Breaks
March 4, 2013
10:55 EDTWSM, TRP, MTG, BPI, NSHigh option volume stocks: BPI NS WSM TRP MTG
News For BPI;NS;WSM;TRP;MTG From The Last 14 Days
Check below for free stories on BPI;NS;WSM;TRP;MTG the last two weeks.
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September 18, 2014
16:24 EDTWSMWilliams-Sonoma initiated with a Fair Value at CRT Capital
Target $72.
15:39 EDTTRPTransCanada CEO sees Keystone XL pipeline cost doubling, WSJ says
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15:28 EDTTRPTransCanada rallies on Third Point stake, levels to watch
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15:23 EDTTRPTransCanada shares now up nearly 6%, near highs of session
15:17 EDTTRPThird Point has amassed stake in TransCanada, Reuters says
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14:21 EDTTRPTransCanada being eyed as target by activist funds, Reuters says
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14:04 EDTTRPTransCanada spikes to highs of session following activist investor interest
Shares now up 2%.
13:54 EDTTRPTransCanada being eyed as target by activist funds, Reuters says
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10:40 EDTWSMPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
07:17 EDTBPIBMO Capital to hold a conference
14th Annual Back to School Education Conference to be held in New York on September 18 with webcasted company presentations to begin at 8 am; not all company presentations may be webcasted. Webcast Link
September 15, 2014
09:59 EDTTRPOn The Fly: Analyst Downgrade Summary
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08:12 EDTWSMWilliams-Sonoma poor Q2 optics probably temporary, says SunTrust
After meeting with Williams-Sonoma's management, SunTrust believes that the poor optics included in the company's Q2 results were probably temporary. The firm thinks that the company's market share gains are likely to continue in the near, intermediate and longer terms. It keeps a Buy rating on the shares.
05:31 EDTTRPTransCanada downgraded to Sell from Neutral at Goldman
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September 8, 2014
07:02 EDTMTGMGIC Investment reports August primary new insurance written $3.5B
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September 5, 2014
19:56 EDTWSMWilliams-Sonoma management to meet with SunTrust
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12:15 EDTNSNuStar Energy management to meet with JPMorgan
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