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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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December 19, 2014
06:36 EDTCATObama administration to ease many parts of Cuba embargo, NY Times says
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December 18, 2014
16:55 EDTMWEminence Capital reports 11.9% stake in Men's Wearhouse
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16:34 EDTMWMen's Wearhouse, Eminence in standstill agreement amendment
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11:31 EDTCATCaterpillar sales trends suggest 'muted' 2015 outlook, says Wells Fargo
Wells Fargo says Caterpillar's November retail sales trends were weak with growth trends decelerating from October in all segments. Wells believes weakening demand trends suggest Caterpillar may provide "a muted" outlook for 2015, and the firm stays below consensus with its 2015 expectations. Wells has a Market Perform rating on Caterpillar.
09:47 EDTCATCaterpillar reports retail machines sales down 10% in three months end November
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December 16, 2014
12:22 EDTHESAnadarko, BG Group 'widely seen' as targets amid oil slump, FT says
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09:59 EDTHES, CATOn The Fly: Analyst Downgrade Summary
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08:53 EDTCATCaterpillar downgraded to Underperform from Neutral at Macquarie
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08:24 EDTCATCaterpillar downgraded to Underperform from Neutral at Macquarie
07:30 EDTHESHess Corp. downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley downgraded Hess to Equal Weight citing relative outperformance vs. Bakken names and another reduction in oil price forecasts and capex reductions. Price target lowered to $73 from $101.
December 15, 2014
08:56 EDTHESHess Corp. coverage resumed with a Buy at Goldman
Target $92.
December 12, 2014
09:35 EDTHESActive equity options trading
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December 11, 2014
10:21 EDTMWHigh option volume stocks
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07:28 EDTHESHess volatility elevated as oil trades near 65-month low
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December 10, 2014
19:18 EDTMWMen's Wearhouse reports Q3 adjusted EPS 83c, consensus 87c
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18:31 EDTMWOn The Fly: After Hours Movers
UP AFTER EARNINGS: Restoration Hardware (RH), up 5.9%... Casey's General Stores (CASY), up 1.6%. ALSO HIGHER: Walgreen (WAG), up 1.7% after CEO Greg Wasson announces intention to retire after Alliance merger. DOWN AFTER EARNINGS: Wet Seal (WTSL), down 38.9%... Lakeland Industries (LAKE), down 8.2%... Men's Wearhouse (MW), down fractionally. ALSO LOWER: Burlington Stores (BURL), down 1.4% after filing to sell 8M shares of common stock for holders... Nielsen (NLSN), down 1.9% after filing to sell 20M shares of common stock for holders.
15:25 EDTMWNotable companies reporting after market close
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14:41 EDTMWMen's Wearhouse volatility increases into Q3 and outlook
Men's Wearhouse December call option implied volatility is at 69, January is at 43, February is at 36; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q3 results.
11:11 EDTKERXKeryx management to meet with Maxim
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