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Stock Market & Financial Investment News

News Breaks
January 7, 2013
10:07 EDTTXN, DKS, UHS, PPL, DHR, AMZN, WAG, TXT, NOC, HXL, HES, HAR, FDO, CS, CAJOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Canon (CAJ) upgraded to Buy from Hold at Jefferies... Credit Suisse (CS) upgraded to Outperform from Sector Perform at RBC Capital... Family Dollar (FDO) upgraded to Overweight from Equal Weight at Barclays... Harmon (HAR) upgraded to Outperform from neutral at RW Baird... Hess Corp. (HES) upgraded to Buy from Hold at Deutsche Bank... Hexcel (HXL) upgraded to Buy from Neutral at Goldman... Northrop Grumman (NOC) upgraded to Sector Perform from Underperform at RBC Capital... Textron (TXT) upgraded to Outperform from Sector Perform at RBC Capital... Walgreen (WAG) upgraded to Buy from Hold at Jefferies... Amazon.com (AMZN) upgraded to Overweight from Equal Weight at Morgan Stanley... Danaher (DHR) upgraded to Buy from Neutral at ISI Group... PPL Corp. (PPL) upgraded to Buy from Neutral at ISI Group... Universal Health (UHS) upgraded to Positive from Neutral at Susquehanna... Dick's Sporting (DKS) upgraded to Buy from Neutral at Janney Capital... Texas Instruments (TXN) upgraded to Outperform from Market Perform at BMO Capital.
News For CAJ;CS;FDO;HAR;HES;HXL;NOC;TXT;WAG;AMZN;DHR;PPL;UHS;DKS;TXN From The Last 14 Days
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October 20, 2014
07:16 EDTCAJAmerican Academy of Ophthalmology to hold annual meeting
AAO Annual Meeting 2014 is being held in Chicago on October 18-21.
07:15 EDTUHSAmerican Academy of Child & Adolescent Psychiatry to hold annual meeting
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06:47 EDTDKSDick's Sporting shares have value at current levels, says Deutsche Bank
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05:59 EDTAMZNStocks with implied volatility above IV index mean; DISH AMZN
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October 17, 2014
17:36 EDTFDOFamily Dollar says will review Elliot notice on directors in due course
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16:09 EDTFDOElliott Advisors expresses concerns over Family Dollar merger, nominates slate
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16:01 EDTAMZNOptions Update; October 17, 2014
iPath S&P 500 VIX Short-Term Futures down 1.75 to 38.58 Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX GILD CLF PBR according to Track Data.
12:52 EDTTXTOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday, as the averages bounce back following steep declines in several recent sessions. Better than expected earnings from General Electric (GE) and Morgan Stanley (MS), a rebound in European stock markets and a stronger than expected reading on U.S. consumer confidence may all be contributing to the brightened mood evidenced by today's trading. ECONOMIC EVENTS: In the U.S., housing starts rebounded 6.3% to a 1.017M pace in September, beating expectations for a monthly increase of 4.6%. Building permits increased 1.5% to a 1.018M rate, which was below the expected 2.3% rise. The first release on the University of Michigan's consumer sentiment index for October came in at 86.4, versus expectations for a decline to 84.0 from the prior 84.6 reading. COMPANY NEWS: General Electric shares rose over 3% after the company reported better than expected third quarter profit and nearly in-line revenues. Morgan Stanley, whose quarterly results also topped Street expectations, advanced 2.5%. MAJOR MOVERS: Among the notable gainers was Westmoreland Coal (WLB), which gained 23% after it stuck a deal to acquire Oxford GP, the general partner of Oxford Resource Partners (OXF), and contribute certain royalty bearing coal reserves to Oxford in return for Oxford common units. Afterward, Brean Capital raised its price target on Westmoreland to $60, noting the announcement represents an entry into the MLP space. Also higher were shares of Textron (TXT), which advanced 11% after the aircraft and defense company reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. Among the noteworthy losers was Urban Outfitters (URBN), which dropped 13% and was downgraded by at least three Street research firms after the owner of Anthropologie and its namesake clothing stores warned that its Q3 earnings may be negatively impacted by continued weakness in its comparable retail sales. Also lower was Myriad Genetics (MYGN), which fell 7% after guiding to lower than expected Q1 adjusted earnings, citing a higher than expected increase in costs to perform its myRisk Hereditary Cancer test following the test's national launch. INDEXES: Near midday, the Dow was up 295.34, or 1.83%, to 16,412.58, the Nasdaq was up 62.43, or 1.48%, to 4,279.82, and the S&P 500 was up 29.48, or 1.58%, to 1,892.24.
11:58 EDTTXTTextron rallies after better than expected Q3 EPS, raising FY14 profit outlook
Shares of aircraft and defense company Textron (TXT) are advancing after the firm reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. WHAT'S NEW: Textron this morning reported Q3 EPS from continuing operations of 57c and revenue of $3.43B, compared to consensus of 52c and $3.63B, respectively. Aviation revenue for the quarter came in at $1.08B, Bell revenue was $1.18B, Systems revenue was $358M, Industrial revenue was $785M and Finance revenue was $25M for the quarter. Chief Executive Officer Scott Donnelly said commented that the increased revenues at Aviation, Industrial and Bell primarily reflected the success of its new product investment and acquisition strategies. Donnelly said the company achieved significant margin improvement in the quarter at Textron Aviation, which reflected higher volumes and better performance. Bell also had improved performance in Q3, Donnelly said, leading to an increase in quarterly margins compared to last year. WHAT’S NOTABLE: The company raised its FY14 EPS from continuing operations view to $2.05-$2.15 from $1.92-$2.12, in line with analysts' consensus estimates of $2.07. Textron also raised its FY14 outlook for cash flow from continuing operations of the manufacturing group before pension contributions to $700M-$800M, with expected pension contributions of around $83M. On the company's earnings conference call, management said it saw a pickup of orders in September and October in the new aircraft market. The company said it is also seeing significant contributions from its M&A investments. PRICE ACTION: In late morning trading, Textron rose $4.16, or about 12.4%, to $37.82 on heavy trading volume. Including today’s advance, the stock has gained approximately 36% over the past twelve months. OTHERS TO WATCH: Other companies in the aircraft and defense business include Boeing (BA), up 2.6%, Spirit Aerosystems (SPR), up 3.8%, and Embraer SA (ERJ) up 3.9%.
09:22 EDTAMZNAmazon.com volatility elevated into Q3 and outlook
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09:03 EDTWAGWalgreen venture investment head leaves after short time in post, Fortune says
Bill Wafford, who was named managing director of Walgreen’s venture capital and growth equity investment business Well Ventures just this this past January, has left the company, according to Fortune. Reference Link
08:52 EDTDHRDanaher valuation remains attractive, says Bernstein
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08:14 EDTWAGWalgreen sued by former CFO for defamation, Reuters reports
Wade Miquelon, the former CFO of Walgreen, filed a lawsuit yesterday in state court in Chicago alleging that CEO Gregory Wasson and director Stefano Pessina, the company's biggest shareholder defamed him in news reports that blamed him for errors in its earnings forecast, Reuters reports. The Wall Street Journal reported in August that Miquelon lost his job following a $1B error in forecasting Walgreen's Medicare-related business, and later said Miquelon's error caused the company to cut its forecast in pharmacy unit earnings for the year ending August 2016. Reference Link
07:26 EDTDHRDanaher weakness a buying opportunity, says Argus
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06:33 EDTTXTTextron reports Q3 Aviation revenue $1.08B, Q3 Bell revenue $1.18B
Reports Q3 Systems revenue $358M, Q3 Industrial revenue $785M, Finance revenue $25M.
06:32 EDTTXTTextron raises FY14 EPS cont ops to $2.05-$2.15 from $1.92-$2.12
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06:31 EDTTXTTextron reports Q3 EPS cont ops 57c, consensus 52c
Reports Q3 revenue $3.43B, consensus $3.63B
06:22 EDTAMZNStocks with implied volatility above IV index mean; GT AMZN
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06:07 EDTCSCredit Suisse names Sitohang Asia Pacific CEO
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06:03 EDTAMZNAmazon Fresh now available in select areas in New York
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