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Stock Market & Financial Investment News

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November 27, 2012
16:29 EDTCAG, RAH, HPQ, MNST, ACAD, MMR, THOOn 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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August 20, 2014
07:44 EDTMNSTMonster Beverage price target raised to $115 from $84 at RBC Capital
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August 19, 2014
11:43 EDTMNSTMonster Beverage channel data relatively in-line, says Jefferies
Jefferies said Total energy drink sales were up 5.9% year-over-year in the C&G channel for the four weeks ended August 2, down from +6.6% in the prior 12-weeks ended July 5. The firm said the data is relatively in-line with Monster Beverage Street expectations.
11:05 EDTHPQImperva seen as takeover candidate under new CEO
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10:13 EDTMNSTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: CNOOC (CEO) downgraded to Hold from Buy at Jefferies... Guess (GES) downgraded to Neutral from Overweight at Piper Jaffray... Ingersoll-Rand (IR) downgraded at RW Baird... Lehigh Gas (LGP) downgraded to Neutral from Buy at Ladenburg... Lexicon (LXRX) downgraded to Hold from Buy at Gabelli... Monster Beverage (MNST) downgraded to Neutral from Buy at SunTrust... Nobel Biocare (NBHGY) downgraded to Hold from Buy at Berenberg... Saint Joe Co. (JOE) downgraded to Market Perform from Outperform at Raymond James... SolarCity (SCTY) downgraded at RW Baird.
09:33 EDTMNSTMonster Beverage price target raised to $125 from $87 at Goldman
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08:59 EDTHPQHewlett-Packard volatility increases into Q3 and outlook
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08:42 EDTHPQImperva new CEO has history of selling companies, says Sterne Agee
After Imperva (IMPV) appointed Anthony Bettencourt as its new CEO, Sterne Agee says that he has a history of selling companies. The firm believes that Imperva "would likely be an acquisition candidate" for a number of large tech companies such as Cisco (CSC), Juniper (JNPR), HP (HPQ), IBM (IBM), Check Point (CHKP), or F5 (FFIV). Sterne Agee believes that Imperva could be acquired for as much as $45 per share, and it keeps a Buy rating on the stock.
06:05 EDTMNSTMonster Beverage downgraded to Neutral from Buy at SunTrust
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August 18, 2014
16:52 EDTMNSTOn The Fly: Closing Wrap
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13:12 EDTMNSTAnalysts mixed on Monster Beverage following Coke deal
Analysts had mixed outlooks on energy drink maker Monster Beverage (MNST) in notes to investors earlier today. The analyst comments come after last Thursday night’s announcement that Monster had formed a strategic partnership with Coca-Cola, which included Coca-Cola taking a 16.7% stake in the energy drink maker. BEARISH TAKE: Jefferies analyst Kevin Grundy downgraded Monster Beverage to Hold from Buy, saying that the stock's valuation "looks full" following its rally on Friday. The potential for a strategic deal is no longer a positive catalyst for Monster's stock, as that catalyst largely played out Friday, Grundy believes. Although Coca-Cola is likely to increase its stake in Monster, it will likely take years to do so, the analyst forecast. Additionally, the growth of the global energy drink space has been slowing in recent months, creating risk for Monster, the analyst believes. However, Grundy did raise his price target on the shares to $95 from $80. BULLISH TAKE: The deal is "a big win" for both Monster and Coca-Cola, but Monster will benefit more, analysts at Wells Fargo contended. The deal should significantly increase Monster's opportunity in international markets, according to the firm. Moreover, Wells believes that the market has historically undervalued Monster's international potential, and it estimates that the company's international business is worth about $65 per share. The firm raised its price target range on the stock to $104-$106 from $79-$81 and kept an Outperform rating on the shares. Like Wells Fargo, Credit Suisse expects the deal to accelerate the growth of Monster's international business. Additionally, the firm thinks that Monster could return a significant percentage of the $2.1B it received from Coca-Cola to shareholders, either through share repurchases or a one-time dividend. Credit Suisse increased its price target on Coca-Cola to $98 from $82 and kept an Outperform rating on the shares. PRICE ACTION: In early afternoon trading, Monster dropped 4% to $89.50. On Thursday the stock closed at $71.65.
13:12 EDTHPQMicrosoft getting ready to launch Chromebook challengers, 9to5Google says
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12:18 EDTMNSTThe Fly: Midday Wrap
The market opened in positive territory following news that Russia and Ukraine were working on a potential ceasefire. The market had faltered on Friday following reports that the Ukraine army had attacked a Russian military vehicle after it crossed into Ukraine territory. The market opened sharply higher and then received an additional boost when the NAHB Housing market Index came in above expectations. The averages quickly moved to session highs, lifting the S&P to its highest level ever and putting August on track for the best monthly performance since February. ECONOMIC EVENTS: The NAHB homebuilder sentiment index rose 2 points to 55 in August. The index had climbed 4 points to 53 in July. This is the highest level since January's 56. The single family sales index edged up to 58 from 56 (revised from 57). The future index was 65 from 63 (revised from 64). The index of prospective buyer traffic improved to 42 from 39 (revised from 39). Data was better than expected. COMPANY NEWS: Shares of discount retailer Dollar General (DG) were higher by about 10% after the company announced a proposal to acquire rival Family Dollar (FDO) for $78.50 per share in cash, in a transaction valued at $9.7B. Shares of Family Dollar rose approximately 5% on the news. MAJOR MOVERS: Among the notable gainers was Sensata Technologies (ST), which rose 5.6% after after agreeing to buy privately held Schrader International for $1B. Also higher was Lannett (LCI), which gained 9.3% after the company said fourth quarter and full-year 2014 earnings per share and revenue would exceed analysts' consensus estimates. Among the noteworthy losers was Monster Beverage (MNST), which fell about 4% after research firm Jefferies downgraded the shares to Hold from Buy saying the valuation looks full following its recent rally. Also lower was NXP Semiconductors (NXPI), which dropped 2.3% after Goldman Sachs downgraded the company to Sell from Neutral, and downgraded the semiconductor sector to Cautious from Neutral. The firm expects consensus estimates to move lower due to cyclical headwinds, increased Q4 and Q1 seasonality, and a RF correction. Goldman lowered their price target on the shares to $54 from $58. INDEXES: Near midday, the Dow was up 168.13, or 1.01%, to 16,831.04, the Nasdaq rose 44.11, or 0.99%, to 4,508.87, and the S&P 500 was higher by 16.79, or 0.86%, to 1,971.88.
10:01 EDTMNSTOn The Fly: Analyst Downgrade Summary
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10:01 EDTHPQOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Buy from Hold at Deutsche Bank... CNOOC (CEO) upgraded to Neutral from Underperform at Credit Suisse... Dollar General (DG) upgraded to Buy from Neutral at Sterne Agee... Equity Residential (EQR) upgraded to Hold from Underperform at Jefferies... HMS Holdings (HMSY) upgraded to Overweight from Equal Weight at First Analysis... HP (HPQ) upgraded to Buy from Neutral at Monness Crespi... Halcon Resources (HK) upgraded to Buy from Hold at MLV & Co.... KapStone (KS) upgraded to Buy from Hold at Deutsche Bank... Sportsman's Warehouse (SPWH) upgraded at RW Baird... Westlake Chemical (WLK) upgraded to Neutral from Reduce at SunTrust... WisdomTree (WETF) upgraded to Neutral from Sell at Citigroup... Zimmer (ZMH) upgraded to Outperform from Market Perform at William Blair.
09:03 EDTMNSTOn The Fly: Pre-market Movers
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07:41 EDTMNSTMonster Beverage price target raised to $104-$106 from $79-$81 at Wells Fargo
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07:41 EDTHPQHP upgraded to Buy from Neutral at Monness Crespi
07:39 EDTHPQHP remains a top pick ahead of Q3 results at Deutsche Bank
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07:12 EDTMNSTMonster Beverage price target raised to $98 from $82 at Credit Suisse
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05:27 EDTMNSTMonster Beverage downgraded to Hold from Buy at Jefferies
Jefferies downgraded Monster Beverage to Hold with a $95 price target saying the valuation looks full following the recent rally in shares.
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