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Stock Market & Financial Investment News

News Breaks
February 1, 2013
10:01 EDTIVZ, HP, VIA, MW, HES, EA, VIAB, EPD, KKD, WHR, TWC, MA, HBC, ALKS, RDS.A, LTM, STZ, ARR, UPS, ZQK, HOLX, BOBE, BUDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AB InBev (BUD) downgraded to Hold from Buy at Societe Generale... ARMOUR Residential (ARR) downgraded to Neutral from Buy at BofA/Merrill... Alkermes (ALKS) downgraded to Neutral from Buy at BofA/Merrill... Bob Evans (BOBE) downgraded to Hold from Buy at KeyBanc... Constellation Brands (STZ) downgraded to Neutral from Buy at BofA/Merrill... HSBC (HBC) downgraded to Neutral from Buy at Citigroup... Hologic (HOLX) downgraded to Reduce from Neutral at SunTrust... Life Time Fitness (LTM) downgraded to Market Perform from Outperform at William Blair... MasterCard (MA) downgraded to Market Perform from Outperform at Wells Fargo... Quiksilver (ZQK) downgraded to Neutral from Outperform at RW Baird... Royal Dutch Shell (RDS.A) downgraded to Underperform from Neutral at BofA/Merrill... Time Warner Cable (TWC) downgraded to Hold from Buy at Deutsche Bank... UPS (UPS) downgraded to Neutral from Buy at Citigroup... Viacom (VIAB) downgraded to Neutral from Overweight at Piper Jaffray... Whirlpool (WHR) downgraded to Outperform from Strong Buy at Raymond James... Electronic Arts (EA) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Helmerich & Payne (HP) downgraded to Neutral from Add at Capital One... Time Warner Cable (TWC) downgraded to Neutral from Buy at Guggenheim... Krispy Kreme (KKD) downgraded to Neutral from Buy at B. Riley Caris... Hess Corp. (HES) downgraded to Accumulate from Buy at Global Hunter... Invesco (IVZ) downgraded to Equal Weight from Overweight at Morgan Stanley... Enterprise Products (EPD) downgraded to Neutral from Outperform at Credit Suisse... Men's Wearhouse (MW) downgraded to Neutral from Outperform at Cowen.
News For A;TWC;UPS;VIAB;VIA;WHR;EA;HP;KKD;HES;IVZ;EPD;MW From The Last 14 Days
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July 22, 2015
07:12 EDTVIABIMAX to adapt Vienna State Opera for new Mission: Impossible film premiere
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06:10 EDTWHRWhirlpool backs FY15 ongoing business EPS of $12.00-$13.00, consensus $12.28
For the FY15, Whirlpool continues to expect to generate free cash flow of approximately $700M. Included in this guidance are restructuring cash outlays of up to $250M, capital spending of approximately $750M-$800M and U.S. pension contributions of approximately $72M.
06:08 EDTWHRWhirlpool reports Q2 ongoing business EPS $2.70, consensus $2.62
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July 21, 2015
15:09 EDTWHRWhirlpool technical comments before earnings
The key technical feature, best seen on a 2-year chart, is an active bearish head and shoulders top. If the news continues to be bearish, the pattern may continue to develop. The downside potential for the pattern is to the $135 area over time. If the news is a bullish surprise, the first important resistance is not until the neckline of the head and shoulders which is at $175. It would take a breakout above the neckline to halt the pattern, with next resistance at $178.84.
05:12 EDTEAEA SPORTS partners with Real Madrid C.F. as official videogame partner
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July 20, 2015
10:43 EDTEAZillow slides to 52-week low after Barclays cuts to sell
The shares of Zillow (Z) are falling after Barclays downgraded the stock to Underweight, the firm's equivalent of a "Sell" rating, citing increased competition in the "local" segment of the Internet market. Zillow's websites advertise homes that are up for sale. WHAT'S NEW: In a note to investors earlier today, Barclays analyst Christopher Merwin wrote that, heading into second quarter results, he does not recommend Internet stocks that have been "challenged" and have relatively "cheap" valuations. These valuations are only "cheap" based on consensus estimates that are probably too high, the analyst believes. Based on that criteria, he downgraded Zillow to Underweight from Equal Weight. He also used the same criteria to downgrade Yelp (YELP), whose website features user reviews of local businesses, to Equal Weight from Overweight. Both companies are facing an "atypical level" of competition, driven by a favorable venture capital funding environment, Merwin indicated. The competition has driven down the companies' multiples, he believes. WHAT'S NOTABLE: Merwin recommended that investors buy the shares of small and mid cap Internet companies whose estimates are just beginning to be revised upwards by analysts. He identified IAC (IACI), which owns several dating websites, as one stock in this category. IAC should benefit from increased monetization of its popular Tinder dating app and the stabilization of its core dating websites, the analyst contended. Also poised for further positive estimate revisions are video game makers Electronic Arts (EA) and Activision Blizzard (ATVI), Merwin believes. The companies' increased revenue from digital games should mitigate the risk they face from slowing software growth as sales of new consoles slow, the analyst believes. He noted that 50% of both companies' revenue are now generated from digital games and identified Electronic Arts and Activision Blizzard as two of his top ideas. PRICE ACTION: In morning trading, Zillow fell 5% to $79 after hitting a 52-week low of $76.82 earlier in the session. Meanwhile, Yelp slid 1.6% to $34.40, IAC fell fractionally to $83.83, Electronic Arts added about 1% to $74.15 and activision Blizzard rose 0.5% to $25.93.
10:26 EDTWHRWhirlpool trades lower, levels to watch
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10:20 EDTWHRWhirlpool issued a Sell rating at Off Wall Street Research
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07:27 EDTEPDGenesis Energy reports full exercise of underwriters' option to purchase shares
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05:44 EDTEAZillow Group downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Christopher Merwin downgraded Zillow Group (Z) to Underweight saying competition is increasing in local. Underweight is Barclays' equivalent to a sell rating. The real estate and rental marketplace owner closed Friday at $83.27. Merwin believes consensus growth estimates are likely too high heading into Zillow's Q2 results and cut his price target for the stock to $70 from $90. The analyst this morning also downgraded Yelp (YELP) to Equal Weight for similar reasons. His top U.S. Internet picks heading into Q2 earnings season are IAC (IACI), Activision Blizzard (ATVI) and Electronic Arts (EA). Merwin thinks Activision and Electronic Arts will receive more than half of their 2015 revenue from digital.
05:27 EDTEPDGenesis Energy upgraded to Outperform from Market Perform at Wells Fargo
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July 17, 2015
15:17 EDTVIAB, VIAViacom discussing possible purchase of Thrillist Media, Re/code says
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07:41 EDTTWCRovi ruling in Netflix suit may 'embolden' pay TV providers, says Stephens
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05:51 EDTEAJune NPD video game software sales rose 21%, says Piper Jaffray
Piper Jaffray notes June NPD video game software sales were up 21% year-over-year, driven by Batman: Arkham Knight from Warner Bros. Piper remains positive on the group and keeps Overweight ratings on Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO).
July 16, 2015
10:45 EDTTWCNetflix price targets soar as Bernstein stays bearish
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10:00 EDTVIAB, VIAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Arc Logistics (ARCX) upgraded to Buy from Hold at Stifel... Dean Foods (DF) upgraded to Buy from Hold at Deutsche Bank... FreightCar America (RAIL) upgraded to Neutral from Sell at UBS... Frontier Communications (FTR) upgraded to Buy from Hold at Jefferies... Google (GOOG) upgraded to Outperform from Market Perform at BMO Capital... Intel (INTC) upgraded to Buy from Hold at Needham... Medtronic (MDT) upgraded to Buy from Neutral at BTIG... Netflix (NFLX) upgraded to Buy from Neutral at Rosenblatt... New Jersey Resources (NJR) upgraded to Buy from Hold at Argus... ONEOK Partners (OKS) upgraded to Outperform from Perform at Oppenheimer... Patterson-UTI (PTEN) upgraded to Overweight from Equal Weight at Morgan Stanley... SJM Holdings (SJMHY) upgraded to Overweight from Underweight at JPMorgan... Statoil (STO) upgraded to Buy from Neutral at Citi... SunOpta (STKL) upgraded to Outperform from Sector Perform at Scotia Howard Weil... Viacom (VIAB) upgraded to Neutral from Sell at Citi... Walgreens Boots Alliance (WBA) upgraded to Outperform from Neutral at Credit Suisse... Werner (WERN) upgraded on 'compelling' valuation at Wells Fargo... Wisconsin Energy (WEC) upgraded to Outperform from Neutral at Baird... voxeljet (VJET) upgraded to Overweight from Neutral at Piper Jaffray.
07:30 EDTVIAB, VIAViacom upgraded to Neutral from Sell at Citi
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06:32 EDTEPDGenesis Energy to acquire Enterprise offshore pipeline and services business
Genesis Energy (GEL) announced that it has entered into a purchase and sale agreement with an affiliate of Enterprise Products (EPD) to acquire the offshore pipeline and services business of Enterprise and its affiliates for approximately $1.5B. All closing conditions, other than those that are to be satisfied at the closing of the acquisition, have been satisfied or waived. The acquisition is expected to close in July 2015. The Enterprise offshore business assets include approximately 2,350 miles of offshore crude oil and natural gas pipelines and six offshore hub platforms, including a 36% interest in the Poseidon Oil Pipeline System, a 50% interest in the Southeast Keathley Canyon Oil Pipeline System and a 50% interest in the Cameron Highway Oil Pipeline System. The Enterprise offshore business assets will complement and substantially expand our existing offshore pipelines segment, which is primarily comprised of our interests in three oil pipelines—Poseidon, SEKCO, and CHOPS. The Enterprise offshore business generates a substantial majority of its cash flow under long-term, fee-based contracts with high-quality customers and no direct exposure to commodity prices. Genesis Energy expects that the shippers on the crude oil pipelines in the Gulf of Mexico, which are mostly integrated and large independent energy companies, will continue to explore for and develop capital intensive, large-reservoir, and long-lived properties throughout the Gulf of Mexico even in the current lower commodity price environment. Genesis Energy believes that the continued exploration and development in the Gulf of Mexico combined with increased footprint after the acquisition of the Enterprise offshore business will provide the company with additional opportunities to develop organic growth projects in the offshore pipeline segment.
05:56 EDTTWCNetflix ruling irrelevant to Rovi contract renewals, says B. Riley
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05:52 EDTTWCRuling in Netflix case a negative for Rovi, says JPMorgan
JPMorgan analyst Sterling Auty says court filings released after yesterday's market close indicate Netflix (NFLX) was granted a motion of summary invalidating all five of the remaining Rovi (ROVI) patents that were being contested. Auty expects Rovi to sell off on the news as investors consider what the ruling may do to the company's upcoming contract renewals with Comcast (CMCSA), Time Warner Cable (TWC), DirecTV (DTV) and DISH (DISH). The "big 4" choosing to litigate against Rovi is "certainly a possibility," but the companies have bigger patent infringement exposures than an over-the-top vendor like Netflix, Auty writes in a research note. He keeps a Neutral rating on Rovi.
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