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Stock Market & Financial Investment News

News For CAJ;MU;NSANY;TM;NINOY;PC From The Last 14 Days
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January 21, 2015
13:53 EDTNSANY, TMGoldman cuts rating on auto dealers citing below consensus U.S. sales view
Goldman Sachs lowered its outlook on auto dealers to Cautious from Neutral, citing several factors, including its belief that U.S. auto sales growth will be "essentially flat" this year. The firm also downgraded its rating on one of the companies in the sector, AutoNation (AN), to Neutral from Buy and removed the stock from its Americas Buy List. WHAT'S NEW: U.S. auto sales will probably rise less than 1% this year on a seasonally adjusted basis, Goldman analyst Patrick Archambault wrote in a note to investors today. Archambault indicated that his U.S. auto sales estimate is significantly below analysts' consensus outlook. Incentive deals and sales to subprime customers last year will probably negatively affect sales growth this year, the analyst stated. Additionally, the growth of dealers' revenue from parts and service is likely to slow this year after a series of major auto recalls were carried out last year, Archambault warned. Dealers may also be hurt by the regulation of auto lenders by the Consumer Financial Protection Bureau, since lenders and dealers split the profits from interest rate markups, the analyst stated. Finally, dealers are trading at a valuation that is 13% above their ten year average, according to Archambault. The analyst cut his rating on AutoNation to Neutral from Buy, based partly on valuation and his belief that the stock's near-term catalysts have diminished after it implemented a rebranding strategy and enhanced its digital systems. Over the medium term, the company's growth prospects will be limited by weak U.S. auto sales growth this year, added Archambault. However, the analyst continues to identify AutoNation as his favorite auto dealer stock. Other auto dealers covered by the analyst include Penske (PAG), which he rates Neutral, and Group 1 (GPI) and Sonic Automotive (SAH), both of which are rated Sell by the analyst. WHAT'S NOTABLE: Automakers whose shares could be negatively affected if the analyst's forecast for anemic U.S. sales growth proves to be accurate include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). PRICE ACTION: In mid-afternoon trading, AutoNation lost 1.2% to $57.12, Sonic Auto lost 1% to $25.18, Group 1 fell 2.5% to $77.40, and Penske climbed 1% to $47.09.
January 20, 2015
12:51 EDTTMToyota sees 2015 global sales dropping to about 10.15M units, Nikkei says
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08:25 EDTMUMicron upgraded to Positive at Susquehanna
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06:47 EDTMUMicron upgraded to Positive from Neutral at Susquehanna
06:22 EDTCAJCanon upgraded to Hold from Sell at Deutsche Bank
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January 16, 2015
16:36 EDTMUMarket finishes week lower on continued oil, global growth worries
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09:37 EDTMUActive equity options trading
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January 15, 2015
06:30 EDTTMGoogle in talks with major automakers on driverless cars, Reuters reports
Google (GOOG) is in talks with many of the top automakers in the world, including Toyota (TM), GM (GM) and Ford (F), about developing driveless vehicles, the director of Google's self-driving car project said yesterday, according to Reuters. The tech giant has also hired a group of "traditional and nontraditional suppliers" to bolster its efforts, with Nvidia (NVDA) one of the latter group, the news service quoted the executive as saying. Google aims to bring driverless vehicles to the market by 2020, the executive said, Reuters reported. Reference Link
January 14, 2015
12:30 EDTTMToyota targets 2015 U.S. sales 2.4M vehicles, growing in line with industry
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07:34 EDTTMDeutsche Bank to hold a conference
2015 Global Auto Industry Conference is being held in Detroit on January 13-15 with webcasted company presentations to begin on January 14 at 7:15 am; not all company presentations may be webcasted. Webcast Link
January 13, 2015
13:21 EDTMUSamsung plans to ramp DRAM capacity, a negative for Micron, says Northland
Northland's checks indicate Samsung is buying more DRAM memory equipment with plans to increase capacity. The analyst expects the increased supply without the offsetting increase in demand will lead to pricing pressures and notes Micron (MU) is the high cost producers and will likely see the most pressure from the move.
10:17 EDTMUOptions with decreasing implied volatility
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07:29 EDTTMToyota to build three new plants, Reuters says
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07:25 EDTTM, NSANYNew NHTSA head says 2015 may see more recalls than record-setting 2014, WSJ says
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07:15 EDTMUNeedham to hold a conference
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January 12, 2015
16:32 EDTMUOn The Fly: Closing Wrap
Stocks spent almost the entire session in negative territory as the continued slump in crude oil prices weighed on equities. As the price of crude searches for a bottom, analysts and investors are concerned about how the low prices may affect U.S. economic growth. It had been estimated that more than half of the expected growth in the S&P 500's earnings would come from the oil industry and the continued drop in oil prices may be wiping out the chances of earnings increasing from the prior quarter. The earnings season unofficially kicks off tonight when Alcoa (AA) reports its fourth quarter earnings. ECONOMIC EVENTS: In the U.S., no major economic data was released. WTI and Brent crude both suffered slides of 5% during the session, sending WTI oil below $46 and Brent near $47 per barrel. Of note, Goldman Sachs said it sees oil prices bottoming in Q2 of this year at $42 a barrel. Goldman lowered its Brent crude oil price estimate for 2015 to $50 a barrel from $84 and for 2016 onwards to $70 a barrel from $90. COMPANY NEWS: Shire (SHPG) shares trading in New York slipped $8.39, or 3.86%, to $209.10 after the company announced over this weekend that it struck a deal to acquire NPS Pharmaceuticals (NPSP) for $46 per share in cash, for a total consideration of approximately $5.2B. NPS shares gained $3.44, or 8.21%, to $45.35... Shares of flash storage provider SanDisk (SNDK) dropped $13.47, or 13.88%, to $83.57 after the company cut its revenue outlook for Q4 and added that non-GAAP gross margin for the quarter is expected to be approximately 45%, compared to the previously guided range of 47%-49%. "The lower revenue was primarily due to weaker than expected sales of retail and iNAND products," SanDisk explained. Micron (MU) fell $1.87, or 5.56%, to $31.66 following the warning from its peer. MAJOR MOVERS: Among the notable gainers was Foundation Medicine (FMI), whose shares surged $22.81, or 95.32%, to $46.74 after the company and Roche (RHHBY) announced that they will enter into a strategic collaboration. Roche will invest in Foundation as part of the deal, resulting in Roche owning a minimum of 52.4% and a maximum of 56.3% of Foundation Medicine on a fully diluted basis. Also higher was Build-A-Bear Workshop (BBW), which jumped $3.12, or 16.75%, to $21.75 after the toy company gave a fourth quarter revenue view that beat expectations. Among the noteworthy losers was Arrowhead Research (ARWR), which fell $2.16, or 23.84%, to $6.90 after announcing that the FDA verbally informed the company of a partial clinical hold on its study of ARC-520 in patients with chronic hepatitis B infection. Also lower were shares of Sarepta Therapeutics (SRPT), which dropped $2.04, or 14.62%, to $11.91 after the company provided data through Week 168 from its Phase IIb open-label extension study of eteplirsen in patients with Duchenne muscular dystrophy. INDEXES: The Dow fell 96.53, or 0.54%, to 17,640.84, the Nasdaq lost 39.36, or 0.84%, to 4,664.71, and the S&P 500 declined 16.55, or 0.81%, to 2,028.26.
12:46 EDTMUOn The Fly: Midday Wrap
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10:15 EDTMUOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:34 EDTMUActive equity options trading
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09:03 EDTMUSanDisk drops 9% after cutting Q4 revenue outlook
Shares of flash storage provider SanDisk (SNDK) are sinking after the company cut its revenue outlook for Q4 to $1.73B from $1.80B-$1.85B. It added that non-GAAP gross margin for the quarter is expected to be approximately 45% compared to the previously guided range of 47%-49%. "The lower revenue was primarily due to weaker than expected sales of retail and iNAND products," SanDisk explained. The stock is dropping 9%, or $8.40, to $88.64 in pre-market trading while peer Micron (MU) is down 3% to $32.54.
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