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Stock Market & Financial Investment News

News Breaks
July 2, 2014
09:15 EDTOFG, BPOP, FBPPuerto Rican legislation positive for banks, says Sterne Agee
Sterne Agee believes that legislation to restructure public entities in Puerto Rico is positive for banks based there. The firm does not expect Popular (BPOP), OFG Bancorp (OFG), or First BanCorp (FBP) to have any losses or significant negative impact as a result of the legislation. It identifies Popular as its favorite name in the sector, followed by OFG and First Bancorp. The firm has Buy ratings on all three names.
News For BPOP;OFG;FBP From The Last 14 Days
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July 1, 2015
10:09 EDTOFGHigh option volume stocks
High option volume stocks: ACE APOL SC SCHN SGMS BDBD OFG HTS AVAV CAVM
09:58 EDTFBP, BPOPPREPA says bond payments due today were made, Bloomberg reports
PREPA is Puerto Rico's power authority. Finance related firms exposed to Puerto Rico that have recently been volatile amid the commonwealth's debt crisis include Assured Guaranty (AGO), MBIA (MBI), First Bancorp (FBP) and Popular (BPOP).
June 30, 2015
10:01 EDTBPOP, OFGHigh option volume stocks
High option volume stocks: DEO PE BPOP PNR JUNO OFG CMPR MPEL
10:00 EDTBPOPOn The Fly: Analyst Upgrade Summary
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08:05 EDTBPOPPopular upgraded to Equal Weight from Underweight at Morgan Stanley
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June 29, 2015
13:48 EDTFBP, BPOPFinance related firms exposed to Puerto Rico plummet after debt worry
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12:24 EDTFBP, BPOPOn The Fly: Top stock stories at midday
Stocks on Wall Street were sharply lower at midday after a surprise power play by the country's Prime Minister may lead to either his exit from power or the country's exit from the euro zone. ECONOMIC EVENTS: In Europe, Greek Prime Minister Alexis Tsipras called a surprise referendum for July 5 on the terms put forth by the countryís creditors in exchange for additional rescue funding. Meanwhile, the European Central Bank decided not to expand its emergency liquidity assistance to Greek banks, leading the country to shut down its banking system and move to impose capital controls. In Asia, the Peopleís Bank of China cut the one-year lending rate by 25 basis points to 4.85% and lowered the amount of reserves certain banks are required to hold by 50 basis points, but the Shanghai Composite still closed the day with another 3.3% in losses. In the U.S., the National Association of Realtors' pending home sales index rose 0.9% to 112.6 in May, which was roughly in-line with expectations but also marked the highest level since April 2006. COMPANY NEWS: Shares of several coal miners advanced after the Supreme Court overturned the Environmental Protection Agency's air quality regulations for power plants, stating that the regulator did not properly take into account the costs to utilities and others in the sector. Peabody Energy (BTU) rose 5% after the ruling, while Arch Coal (ACI) gained 8% and Cloud Peak Energy (CLD) added about 3%. MAJOR MOVERS: Among the notable gainers was Aratana Therapeutics (PETX), which jumped 17.5% after the company announced results from its study of capromorelin, the company's therapeutic for appetite stimulation in dogs. Also higher was Amphenol (APH), which gained 4% after announcing it has entered into exclusive negotiations and has made a binding offer to acquire 100% of the shares of FCI Asia, which is involved in interconnect solutions for the telecom, datacom, wireless communications and industrial markets, for $1.275B from its private equity owner Bain Capital. Among the noteworthy losers were bond insurers MBIA (MBI), which dropped 18%, and Assured Guaranty (AGO), which fell 13.5%, after Puerto Rico's Governor said that the commonwealth would not be able to pay its debts and called for concessions from the islandís creditors. Both stocks were downgraded at BTIG following the news. Also lower following the news in Puerto Rico were First Bancorp (FBP), the bank holding company for FirstBank Puerto Rico, and Popular (BPOP), the parent of Banco Popular de Puerto Rico. Shares of Vitae Pharmaceuticals (VTAE) declined 16% after the company announced that an ongoing Phase 2 trial of its treatment of overweight type 2 diabetic patients did not meet partner Boehringer Ingelheim's predefined endpoint criteria. INDEXES: Near midday, the Dow was down 218.57, or 1.22%, to 17,728.11, the Nasdaq was down 69.65, or 1.37%, to 5,010.85, and the S&P 500 was down 25.68, or 1.22%, to 2,075.81.
11:00 EDTFBPFirst BanCorp volatility increases on Puerto Rico debt concerns
First BanCorp July call option implied volatility is at 63, August is at 52, September is at 48; compared to its 52-week range of 14 to 68, suggesting large near term price movement.
10:53 EDTFBPFirst BanCorp downgraded to Neutral from Buy at BofA/Merrill
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10:09 EDTBPOP, FBPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Assured Guaranty (AGO) downgraded to Neutral from Buy at BTIG... Capital Bank (CBF) downgraded to Hold from Buy at Sandler O'Neill... F5 Networks (FFIV) downgraded to Neutral from Overweight at Piper Jaffray... First BanCorp (FBP) downgraded to Neutral from Buy at Guggenheim... Gannett (GCI) downgraded to Hold at Jefferies following spin-off... IBERIABANK (IBKC) downgraded to Hold from Buy at Sandler O'Neill... JPMorgan (JPM) downgraded to Perform from Outperform at Oppenheimer... KYTHERA (KYTH) downgraded to Market Perform from Outperform at Leerink... MBIA (MBI) downgraded to Neutral from Buy at BTIG... Macy's (M) downgraded to Sell from Buy at Deutsche Bank... MarketAxess (MKTX) downgraded to Underperform from Neutral at Macquarie... Nutrisystem (NTRI) downgraded to Market Perform from Outperform at Barrington... Park Sterling Bank (PSTB) downgraded to Hold from Buy at Sandler O'Neill... Popular (BPOP) downgraded to Neutral from Buy at Guggenheim... Qualcomm (QCOM) downgraded to Sell from Hold at Drexel Hamilton... SunTrust (STI) downgraded to Perform from Outperform at Oppenheimer... Ternium (TX) downgraded to Neutral from Buy at BofA/Merrill... Xoom (XOOM) downgraded to Neutral at Susquehanna... Youku Tudou (YOKU) downgraded to Underperform from Neutral at Mizuho.
10:04 EDTBPOPHigh option volume stocks
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09:02 EDTOFGOFG Bancorp volatility flat as shares trade near three-year low
OFG Bancorp July call option implied volatility is at 29, August is at 34, November is at 28; compared to its 52-week range of 16 to 73, suggesting non-directional price movement.
09:01 EDTBPOPPopular volatility flat as shares trade near five-year high
Popular July call option implied volatility is at 29, October is at 25; compared to its 52-week range of 21 to 38, suggesting non-directional price movement.
07:09 EDTFBPFirst BanCorp downgraded to Neutral from Buy at Guggenheim
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07:09 EDTBPOPPopular downgraded to Neutral from Buy at Guggenheim
June 26, 2015
17:07 EDTBPOPPopular files automatic mixed securities shelf
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June 25, 2015
17:19 EDTFBPFirst BanCorp releases results of 2015 Dodd-Frank Stress Test
Results indicate that, even in the severely adverse scenario presented by the test, First BanCorpís capital ratios exceed both the regulatory minimum required ratios mandated under Basel III and the well-capitalized thresholds throughout the nine-quarter time horizon.

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