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Stock Market & Financial Investment News

News Breaks
January 28, 2013
12:39 EDTKERX, MW, HES, JOSB, CATOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as some positive durable goods data was offset by disappointing news about pending home sales in December. The Nasdaq was able to rise about 0.3% while the Dow and S&P lagged, but were not far in negative territory... ECONOMIC EVENTS: In the U.S., orders for durable goods rose 4.6% in December to a seasonally adjusted $230.74B, versus an expected increase of 2.0%. The Pending Home Sales report for December showed a decline of 4.3%, versus expectations for no change from the prior month. Also, over the weekend, China's National Bureau of Statistics released figures that showed industrial earnings grew 20.4% in Q4 after negative growth over the first three quarters of the year... COMPANY NEWS: Caterpillar (CAT) shares were up about 2% near noon in spite of reporting headline sales and profit figures that missed consensus and providing guidance for the upcoming year that spans a wide range of possible outcomes. The company's Q4 reported EPS of $1.04 missed the consensus forecast of $1.70, but included a previously disclosed charge of $580M, or 87c per share, for a writedown of a subsidiary. The company said it expects FY13 EPS anywhere between $7.00 to $9.00 and gave a similarly wide range of projected sales for the upcoming year, citing uncertainty in the global economy... MAJOR MOVERS: Among the notable gainers was Hess (HES), which rose 5% after the company said it has hired Goldman Sachs (GS) to pursue a sale of its terminal network. Hess also announced it has completed its exit of the refinery business and that shareholder Elliott Associates may seek to acquire additional Hess shares valued at more than $800M. Also higher was Keryx Biopharmaceuticals (KERX), which jumped over 73% after the company's successful top-line results from a long-term study of one of its drugs prompted research firms Brean Capital, Roth Capital and Maxim to raise their price targets on Keryx shares. Among the noteworthy losers was JoS. A. Bank (JOSB), which tumbled nearly 18% after warning that its FY12 net income would likely drop about 20% compared with the previous year. Also lower after its announcement were shares of fellow suit retailer The Men's Wearhouse (MW), which fell more than 6%... INDICES: Near noon, the Dow was down 11.18, or 0.08%, to 13,884.80; the Nasdaq was up 9.22, or 0.29%, to 3,158.93; and the S&P 500 was down 1.54, or 0.10%, to 1,501.42.
News For CAT;HES;KERX;JOSB;MW From The Last 14 Days
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November 19, 2015
10:26 EDTCATGoldman says sell Titan with ag and mining weakness expected to continue
Goldman Sachs downgraded Titan International (TWI) to Sell from Neutral today, saying that weakness in agriculture and mining would continue to weigh on the company's results. Goldman's downgrade comes after the company reported much weaker than expected results on November 6. Titan makes tires and wheels used in off-road vehicles which are utilized by farmers and mining and construction companies. WHAT'S NEW Titan derives 80% of its revenue from agriculture and mining, so the weakness in those sectors will continue to hurt its results going forward, wrote Goldman analyst David Tamberino. Additionally, farmers have less money to spend on capital projects, reducing the likelihood that they will adopt Titan's new LSW tires, according to the analyst. Given these factors and the January 2017 maturity of Titan's convertible note, the company could be faced with a cash crunch, the analyst warned. Moreover, Titan is facing increased competition, according to Tamberino. He sharply lowered his 2015-2017 earnings before interest, taxes, depreciation and amortization estimates for the company and slashed his price target on the name to $3 from $8. WHAT'S NOTABLE: Deere (DE), Caterpillar (CAT), and AGCO (AGCO) sell heavy machinery used in agriculture. PRICE ACTION: In early trading, Titan sank 11% to $4.50.
November 17, 2015
10:00 EDTHESOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Airgas (ARG) downgraded on valuation at KeyBanc... BHP Billiton (BHP) downgraded to Neutral from Buy at Clarksons Platou... Chesapeake (CHK) downgraded to Neutral from Buy at Sterne Agee CRT... ChipMOS (IMOS) downgraded to Equal Weight from Overweight at Morgan Stanley... Clovis (CLVS) downgraded to Neutral from Conviction Buy at Goldman... Cooper Companies (COO) downgraded to Market Perform from Outperform at Wells Fargo... Five Below (FIVE) downgraded to Neutral from Buy at Sterne Agee CRT... Grainger (GWW) downgraded to Underweight from Neutral at Atlantic Equities... Hess Corp. (HES) downgraded to Perform from Outperform at Oppenheimer... J Sainsbury (JSAIY) downgraded to Neutral from Buy at Citi... Kindred Biosciences (KIN) downgraded to Market Perform from Outperform at BMO Capital... Leju (LEJU) downgraded to Neutral from Buy at BofA/Merrill... Lombard Medical (EVAR) downgraded to Equal Weight from Overweight at Barclays... Osiris (OSIR) downgraded to Sell from Hold at Brean Capital... Polaris Industries (PII) downgraded on anemic ORV growth at Wedbush... SQM (SQM) downgraded to Hold from Buy at HSBC... Southwestern Energy (SWN) downgraded to Underperform from Neutral at Sterne Agee CRT... Starwood (HOT) downgraded to Outperform from Buy at CLSA... Urban Outfitters (URBN) downgraded to Hold from Buy at Cantor... WM Morrison (MRWSY) downgraded to Sell from Neutral at Citi... adidas (ADDDY) downgraded to Sector Perform from Outperform at RBC Capital... athenahealth (ATHN) downgraded to Underweight from Equal Weight at Barclays.
06:56 EDTHESHess Corp. downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Fadel Gheit downgraded Hess Corp. to Perform citing continued deficit spending in a sub-$70 oil price environment. The analyst removed his $75 price target for shares.
November 16, 2015
15:36 EDTCATCaterpillar November volatility up into overview of Financial Services
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13:29 EDTCATCaterpillar to host conference call
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12:00 EDTMWMen's Wearhouse upgraded Underperform from Sell at Tigress Financial
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05:37 EDTMWStocks with implied volatility below IV index mean; MW WTW
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November 13, 2015
12:34 EDTCATCaterpillar, General Motors, Altria Group are market beaters, Barron's says
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05:29 EDTMWStocks with implied volatility below IV index mean; MW WTW
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