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Stock Market & Financial Investment News

News Breaks
November 27, 2012
16:29 EDTACAD, RAH, THO, MNST, CAG, MMR, HPQOn The Fly: Closing Wrap
Stocks on Wall Street finished lower on the day, after a mixed session turned negative for all three major averages following comments from Senate Majority Leader Harry Reid. Reid said that he was disappointed with the most recent round of negotiations regarding the fiscal cliff and that little progress had been made... ECONOMIC EVENTS: In the U.S., non-defense capital goods orders excluding aircraft rose 1.7% in October, versus expectations for a 0.5% decline. Total durable goods orders were unchanged for the month, versus expectations for them to decline 0.7%. The S&P Case-Shiller 20-city home-price index gained 0.4% in September compared to the prior month. The Conference Board's consumer confidence index rose to 73.7 in November, beating expectations and hitting its highest level in almost five years. The Richmond Fed manufacturing survey for November registered +9, compared to expectations for it to slide to -9. In Europe, the region's finance ministers, the ECB and the IMF reached an aid deal on Greece, which is expected to help the nation reduce its debt-to-GDP ratio to 124% by 2020... COMPANY NEWS: ConAgra Foods (CAG) agreed to acquire Ralcorp Holdings (RAH) for $90.00 per share, or about $6.8B including the assumption of debt. Shares of Ralcorp shot up $18.57, or 26.44%, to $88.80 following the deal announcement and ConAgra also climbed $1.34, or 4.74%, $29.63 after the news... Hewlett-Packard (HPQ), in response to an open letter issued by Autonomy founder Mike Lynch, said it has evidence that Autonomy inflated its financial metrics and would take legal action on the matter when appropriate. Shares of HP traded lower on the session, down 38c, or 2.98%, to $12.36... MAJOR MOVERS: Among notable gainers were shares of Monster Beverage (MNST) up $6.08, or 13.26%, to $51.96 after Goldman said the FDA's response to Senator Durbin's letter on energy drinks was generally benign and encouraging. Also higher was ACADIA Pharmaceuticals (ACAD), up $3.13, or 136.09%, to $5.43 following its report of positive results from a trial of its treatment for Parkinson's disease psychosis, or PDP. Among the noteworthy losers was McMoRan Exploration (MMR), which slid another $1.47, or 15.23%, to $8.18 a day after the company provided an update on its Gulf of Mexico exploration results and indicated ongoing well difficulties. Also lower were shares of Thor Industries (THO), down $5.00, or 11.47%, to $38.60 after a disappointing Q1 report... INDICES: The Dow was down 89.24, or 0.69%, to 12,878.13; the Nasdaq was down 8.99, or 0.30%, to 2,967.79; and the S&P 500 was down 7.35, or 0.52%, to 1,398.94.
News For CAG;RAH;HPQ;MNST;ACAD;MMR;THO From The Last 14 Days
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December 19, 2014
18:54 EDTHPQHP, Autonomy shareholder settlement rejected by Judge, Bloomberg says
This is the second time the settlement was rejected, Bloomberg added.
December 18, 2014
12:26 EDTCAGOn The Fly: Midday Wrap
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10:04 EDTCAGConAgra sees private brands recovery taking longer than originally planned
Expects recovery for private brands segment to take longer than originally planned. Sees private brands "down" for the year, but still expects to meet FY company EPS commitments. Sees FY15 as a year of "foundation building." Expects having FX headwinds "to deal with." Expects inflation in proteins to be "manageable." Says committed to long-term vision for private brands. CEO Gary Rodkin says still intends to retire in May, but will be flexible. Says CEO search ongoing. Says international shipments disrupted by longshoremen labor dispute, says issues may cause further disruption. Sees other units offsetting weakness in private brands. Sees operating margin growing double digit levels over next few years. Says capital allocation priority will be repayment of debt. Intends to maintain current annual dividend rate, will limit share repurchases. Expects limited acquisition activity as company repays debt. Sees good sales, profit growth for commercial foods in FY15. Comments made on the Q2 earnings conference call. ConAgra shares are down 4.42% to $35.46 in morning trading.
07:32 EDTCAGConAgra sees FY15 adjusted EPS up MSD over FY14
The company continues to expect fiscal 2015 diluted EPS, adjusted for items impacting comparability, to show a mid-single digit rate of growth over the comparable diluted EPS of $2.17 earned in fiscal 2014. Consensus is $2.25. For the full fiscal year, a continuation of good performance from Consumer Foods and Commercial Foods, as well as the benefit of productivity and efficiency initiatives, are expected to offset a profit decline in the Private Brands segment. The company continues to expect operating cash flow to be in the range of $1.6 billion-$1.7 billion, and to reduce debt by a total of $1 billion in fiscal 2015, thereby reaching its broader debt reduction goals for the fiscal 2013-2015 period.
07:31 EDTCAGConAgra reports Q2 comparable EPS 61c, consensus 61c
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December 17, 2014
15:18 EDTCAGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Accenture (ACN), consensus $1.20; ConAgra (CAG), consensus 61c; Rite Aid (RAD), consensus 5c; Sanderson Farms (SAFM), consensus $4.01; Actuant (ATU), consensus 42c.
10:14 EDTHPQHP best way to play coming PC sales outperformance, Citi says
Sales of PCs will be at least flat next year, before growing slightly in 2016 and 2017, Citigroup wrote in a note to investors today. The firm identified HP (HPQ) as the best way to play better than expected PC sales. WHAT'S NEW: Although many believe that PCs will become extinct, there are several reasons why sales of personal computers will begin growing again, Citi analyst Jim Suva contended. Sales of commercial PCs in emerging markets should increase over the long-term, as those PCs are aging, according to Suva. He estimated that commercial PCs in emerging markets account for 27% of the total PC market. Meanwhile, tablets were supposed to replace PCs, but tablet sales growth slowed to just 8% this year, indicating that tablets are becoming less of a threat to PCs, he wrote. Additionally, some believe that PC demand was inflated by a rush to replace computers running Microsoft's (MSFT) Windows XP operating system this year after the company stopped supporting XP, but Suva believe that PC demand growth in 2014 was more driven by a need to buy new computers following a lull in growth in 2012-2013 than by the XP situation. As a result, the analyst estimates that the XP phenomenon will only reduce next year's PC growth by 1%, versus the 3%+ reduction that investors fear. HP is the best way to play the PC rebound, wrote Suva, who raised his price target on the company's shares to $46 from $40 and kept a Buy rating on the stock. WHAT'S NOTABLE: Suva raised his price target on hard disk drive maker Western Digital (WDX) to $125 from $110 and on its competitor, Seagate (STX), to $74 from $70, as he noted that the companies obtain about 50% of their revenue from PCs. He kept Buy ratings on both names. PRICE ACTION: In early trading, Hewlett-Packard gained 2.7% to $38.32, Western Digital rose 1.7% to $106.30, and Seagate climbed 1% to $63.89.
06:20 EDTHPQHP price target raised to $46 from $40 at Citigroup
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December 16, 2014
15:53 EDTMNSTBrandon limited reports 12.5% stake in Monster Beverage
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09:59 EDTMNSTOn The Fly: Analyst Upgrade Summary
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08:12 EDTMNST, MNSTMonster Beverage upgraded to Buy from Outperform at CLSA
CLSA upgraded Monster (MNST) to Buy and raised estimates to reflect higher international growth forecasts from its partnership with Coca-Cola (KO). Price target raised to $130 from $110.
December 15, 2014
11:31 EDTHPQHP, NYC Comptroller reach $10.6M settlement to resolve ECTP dispute
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10:05 EDTHPQHP participates in a conference call with Oppenheimer
Oppenheimer hosts Antonio Neri, Senior Vice President & General Manager-Enterprise Group, who discusses HP convergence, servers and networking on a conference call to be held on December 15 at 11 am.
December 12, 2014
12:33 EDTCAGConAgra volatility elevated into Q2 and outlook
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07:12 EDTHPQHP reinstated with a Buy at BofA/Merrill
Target $47.
December 10, 2014
08:25 EDTHPQHP capital return potential makes valuation attractive, says Brean Capital
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December 8, 2014
07:28 EDTHPQFBN Securities to hold a bus tour
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December 7, 2014
15:53 EDTHPQHP shares could gain 15%, Barron's says
HP shares could gain 15% to $45.00 per share as the company splits its enterprise business from PCs and printer business, by next October, Barron's argues in a follow up article. Reference Link

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