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Stock Market & Financial Investment News

News Breaks
June 4, 2014
15:20 EDTRLD, FIVE, PVH, BV, VRNT, GEFNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Bazaarvoice (BV), consensus (10c); Five Below (FIVE), consensus 6c; Greif (GEF), consensus 67c; PVH Corp. (PVH), consensus $1.49; RealD (RLD), consensus (24c); and Verint Systems (VRNT), consensus 55c.
News For BV;FIVE;GEF;PVH;RLD;VRNT From The Last 14 Days
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March 4, 2015
12:28 EDTBVOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory but have paired their losses near midday. There was little reaction to the day’s economic data, which were highlighted by private payrolls growth that was a bit lower than expected and a crude oil inventory build-up that was much greater than expected. Investors are now looking forward to this afternoon, when the Federal Reserve will release its Beige Book report at 2:00 pm EST. ECONOMIC EVENTS: In the U.S., ADP reported private payrolls increased 212K in February, versus the consensus forecast for the addition of 219K jobs. Markit's services PMI rose to 57.1 in the final February reading, which was up from the 57.0 flash print, where it was expected to remain. ISM's services index edged up 0.2 points to 56.9 in February, which was above the consensus 56.5 forecast. In Asia, the biggest news came from India, whose central bank unexpectedly lowered its policy rate for the second time this year. The bank lowered its policy repo rate by 25 basis points to 7.5%, citing "low capacity utilization and still-weak indicators of production" for its pre-emptive policy action. COMPANY NEWS: Shares of a number of hospital operators' stocks jumped after U.S. Supreme Court Justice Anthony Kennedy expressed skepticism about the arguments from challengers' of a key component of the Affordable Care Act. At midday, after the high court ceased hearing arguments for the day, HCA Holdings (HCA) was up over 5.5%, Community Health (CYH) was up 5%, and Tenet Healthcare (THC) was up 4%... Exxon Mobil (XOM) stated at its analyst meeting that the company's capital expenditures came in $1.3B below plan at $38.5B last year and that it plans to cut that to $34B in 2015 based on expectations for reduced Upstream spending and "attractive" Downstream and Chemical investments. For 2016 to 2017, Exxon said it expects capital expenditures to average less than $34B per year. Despite the lower spending, Exxon Mobil sees its total Upstream production to be up 2% in 2015 and grow 3% per year in 2016 and 2017. MAJOR MOVERS: Among the notable gainers following their earnings reports were online-only home goods retailer Wayfair (W), which rose 15% and gunmaker Smith & Wesson (SWHC), which advanced over 10%. Among the noteworthy losers following their earnings reports were Bazaarvoice (BV), which fell 28%, and Abercrombie & Fitch (ANF), which dropped 13%. Also lower were shares of Bob Evans Farms (BOBE), which sunk 22% after its third quarter results fell below analysts' consensus estimates, the company lowered its fiscal year 2015 profit outlook and announced it would not pursue a sale or spin-off of its BEF Foods segment. INDEXES: Near midday, the Dow was down 87.26, or 0.48%, to 18,116.11, the Nasdaq was down 9.46, or 0.19%, to 4,970.44, and the S&P 500 was down 8.51, or 0.4%, to 2,099.27.
10:01 EDTBVOn The Fly: Analyst Downgrade Summary
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07:42 EDTBVBazaarvoice shares should be bought on weakness, says Pacific Crest
After Bazzarvoice reported stronger than expected results but its FY16 revenue guidance was below expectations and the stock fell, Pacific Crest thinks that the company's adjusted EBITDA guidance suggests that the consensus fiscal 2016 EPS outlook is too low. The firm says that the company is accelerating its move to profitability and keeps an Outperform rating on the shares.
07:19 EDTBVBazaarvoice downgraded to Neutral from Buy at B. Riley
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March 3, 2015
18:33 EDTBVOn The Fly: After Hours Movers
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17:05 EDTBVBazaarvoice sees being profitable in FY16 on an EBITDA basis
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17:02 EDTBVBazaarvoice sees FY15 EPS (22c)-(20c), consensus (29c)
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16:58 EDTBVBazaarvoice sees Q4 EPS (9c)-(7c), consensus (8c)
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16:51 EDTBVBazaarvoice sees gross margins remaining in mid 60s for Q4
Comment made on Q3 earnings call.
16:47 EDTBVBazaarvoice sees FY16 revenue growth rate 6%-10%
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16:38 EDTBVBazaarvoice added 550 premium clients in Q3
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16:15 EDTBVBazaarvoice reports Q3 EPS 0c, consensus (6c)
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15:20 EDTBVNotable companies reporting after market close
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10:22 EDTPVHGoldman sees weakness ahead for specialty apparel retailers
The stocks of specialty apparel retailers could drop sharply as a result of the cold February weather and bottlenecks at West Coast ports, Goldman Sachs wrote in a note to investors today. WHAT'S NEW: The cold February and port delays will probably cause specialty retailers to report lower than expected profits for the first half of 2015, Goldman analyst Lindsay Drucker Mann forecast. As a result of these factors, the inventories of companies in the sector will probably be backed up all the way to Easter, wrote Mann, adding that foreign exchange fluctuations are also likely to weigh on specialty retailers' profits. The analyst cut her rating on PVH Corp. (PVH) two notches to Neutral from Conviction Buy, predicting that the company's profits would take longer to recover than she previously believed. Among specialty retail stocks, Mann is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN), and Ann Inc. (ANN). She maintained Sell ratings on all three names. The analyst predicted that American Eagle's (AEO) stock could fall further, and maintained a Neutral rating on those shares. WHAT'S NOTABLE: On February 26, Morgan Stanley downgraded Abercrombie & Fitch, citing skepticism about the turnaround prospects of its international business and negative foreign exchange trends. The firm predicted that the company's fiscal 2015 EPS guidance would come in below expectations. However, two firms were recently upbeat on American Eagle, with BMO Capital identifying the company as its favorite name for spring, stating that it expects American Eagle to benefit from the 70s fashion trend. Also, BB&T recently initiated the stock with a Buy rating. PRICE ACTION: In early trading, PVH fell 1.4% to $105.23, Abercrombie & Fitch lost 1.6% to $24, Francesca's declined 2% to $14.62, Ann slid 1.1% to $35.36, and American Eagle lost 1% to $14.80.
10:01 EDTPVHOn The Fly: Analyst Downgrade Summary
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05:57 EDTPVHPVH Corp. downgraded to Neutral from Conviction Buy at Goldman
Goldman Sachs downgraded PVH Corp. (PVH) to Neutral from Conviction Buy saying a cold February and port-related product delays in March will push out the company's earnings recovery. Goldman cut its price target for the owner of Calvin Klein and Tommy Hilfiger to $109 from $143. The stock closed Monday up 21c to $106.74. Within the Specialty Apparel space, Goldman is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN) and Ann Inc. (ANN), and it sees "fresh downside risk" to American Eagle (AEO). It says the weather and port issues could "throw cold water on the Specialty rally."
March 2, 2015
07:25 EDTGEFPackaging sector downgraded to Market Weight at Wells Fargo
Wells Fargo downgraded the Packaging sector to Market Weight from Overweight saying current valuation levels reflect known catalysts. Wells made no stock rating changes along with the sector, and continues to view International Paper (IP) and Crown Holdings (CCK) as its top picks. Other Outperform ratings in the space include Berry Plastics (BERY), Greif (GEF), Owens-Illinois (OI) and Packaging Corp. (PKG).
February 26, 2015
12:20 EDTRLDRealD management to meet with B. Riley
Meeting to be held in San Francisco on March 3 hosted by B. Riley.
February 25, 2015
10:01 EDTFIVEOn The Fly: Analyst Initiation Summary
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08:35 EDTFIVEFive Below initiated with a Positive at Susquehanna
Target $39.
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