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Stock Market & Financial Investment News

News Breaks
November 13, 2012
10:00 EDTPACD, WLK, MCP, CJES, TRNX, SYUT, LYB, BRFS, SCOR, RGP, LLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: C&J Energy (CJES) downgraded to Neutral from Overweight at JPMorgan... Lumber Liquidators (LL) downgraded to Sell from Hold at Stifel Nicolaus... LyondellBasell (LYB) downgraded to Neutral from Buy at Goldman... Molycorp (MCP) downgraded to Equal Weight from Overweight at Morgan Stanley... Regency Energy Partners (RGP) downgraded to Equal Weight from Overweight at Barclays... Synutra (SYUT) downgraded to Perform from Outperform at Oppenheimer... Westlake Chemical (WLK) downgraded to Neutral from Conviction Buy at Goldman... comScore (SCOR) downgraded to Underperform from Market Perform at Raymond James... Tornier (TRNX) downgraded to Underperform from Market Perform at Northland Securities... Pacific Drilling (PACD) downgraded to Neutral from Buy at Guggenheim... BRF Brasil Foods (BRFS) downgraded to Hold from Buy at Miller Tabak.
News For CJES;LL;LYB;MCP;RGP;SYUT;WLK;SCOR;TRNX;PACD;BRFS From The Last 14 Days
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August 24, 2015
08:27 EDTWLKWestlake Chemical price target lowered to $65 from $84 at Cowen
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07:38 EDTCJESOilfield Services stocks downgraded at SunTrust
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07:01 EDTWLKWestlake Chemical raises quarterly dividend 10% to 18.15c per share
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August 21, 2015
10:02 EDTPACDOn The Fly: Analyst Downgrade Summary
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09:31 EDTPACDPacific Drilling downgraded to Neutral from Buy at Global Hunter
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August 20, 2015
16:48 EDTLLOn The Fly: Top stock stories for Thursday
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13:26 EDTLLOn The Fly: Top stock stories at midday
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10:42 EDTLLCantor upgrade gives embattled Lumber Liquidators a boost
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10:00 EDTLLOn The Fly: Analyst Upgrade Summary
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06:40 EDTLLLumber Liquidators upgraded to Buy from Hold at Cantor
Cantor Fitzgerald analyst Laura Champine upgraded Lumber Liquidators to Buy from Hold and raised her price target for shares to $18 from $15. The embattled wood flooring retailer closed yesterday down 75c to $14.21. The risk/reward scenario has become "much more appealing" with the down nearly 80% year-to-date, Champine tells investors in a research note. Appointing a chief compliance and legal officer with three decades of relevant experience should bring improved oversight, the analyst argues. Champine also raised her long-term gross margin assumptions after her recent store tour with senior management.
August 18, 2015
16:49 EDTLLOn The Fly: Top stock stories for Tuesday
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13:33 EDTLLOn The Fly: Top stock stories at midday
Repeating yesterday's start, the market began the session in negative territory before recapturing those losses. Early weakness was attributed to a dip in Wal-Mart (WMT) shares after the company's earnings report as well as a selloff in the Chinese market overnight. Heading into the afternoon, the market has drifted back across the flat line, with all three indices negative despite July's housing starts showing the strongest reading in eight years. ECONOMIC EVENTS: In the U.S., housing starts edged up 0.2% in July to 1.206M, outpacing consensus estimates for 1.180M in the best reading since October 2007. Building permits fell 16.3% to 1.119M against expectations for 1.230M from a revised 1.337M in June, while single family starts rose 12.8% and multifamily numbers fell 17.0%. In Europe, Eurozone parliaments are set to vote on Greece's prospective bailout deal this week, with Reuters reporting earlier today that the Austrian parliament has approved the EUR86B agreement. COMPANY NEWS: Shares of National Penn (NPBC) rose nearly 17% to $12.77 after BB&T (BBT) agreed to acquire the company in a $1.8B cash and stock deal. On a conference call discussing the acquisition, BB&T CEO Kelly King called the "very, very synergistic" deal a "compelling use of capital," adding that the company expects to consolidate about 25 branches to help drive annual cost savings of $65M... Wal-Mart (WMT) fell roughly 3.2% to near $69.50 after cutting its full year earnings outlook this morning, with CFO Charles Holley noting that operating profit will see continued pressure. Meanwhile, Home Depot (HD) and Dicks Sporting Goods (DKS) saw respective gains of about 2.3% and 1.8% after their pre-market earnings reports. MAJOR MOVERS: Among the notable gainers was Omeros (OMER), surging more than 69% to $24.58 after releasing positive preliminary data on its Phase 2 trial of OMS721 for the treatment of organ blood clots. Also higher was Inteliquent (IQNT), rising about 19% to $21.24 after announcing a three-year agreement with T-Mobile (TMUS) to provide IP voice services for the carrier. Separately, Lumber Liquidators (LL) has gained almost 5.7% to nearly $15 in afternoon trading after announcing the appointment of Jill Witter as Chief Compliance and Legal Officer. Among the noteworthy losers was Esperion (ESPR), falling over 11% despite rising 5% in pre-market trading after reporting that the ETC-1002 Phase 3 program is on track, adding that the FDA will not require a cardiovascular outcomes trial prior to the drug's potential approval. Also lower was American Apparel (APP), slipping about 1.9% after disclosing "substantial doubt" about its ability to sustain operations during the coming year. INDEXES: Near midday, the Dow was down 40.37, or 0.23%, to 17,504.81, the Nasdaq lost 26.86, or 0.53%, to 5,064.96, and the S&P 500 was lower by 6.02, or 0.29%, to 2,096.41.
10:15 EDTLLLumber Liquidators hires Jill Witter as Chief Compliance and Legal Officer
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09:02 EDTLYBLyondellBasell announces sale of Argentina-based Petroken
LyondellBasell announced that YPF S.A. and Grupo Inversor Petroquimica S.L. have accepted an offer to purchase LyondellBasell's Argentina-based, wholly-owned subsidiary Petroken Petroquimica Ensenada S.A. The sale is expected to close in late 2015 following Brazilian antitrust authority approval. The transaction is valued at $145M on a debt and cash free basis. Based on working capital estimates as of June 30, 2015, expected cash proceeds are $162M. Petroken operates a 180 kiloton polypropylene plant in Ensenada and is a leading polypropylene producer in Argentina.
August 16, 2015
20:09 EDTLL'60 Minutes' reiterates view of 'unsafe' Lumber Liquidators flooring
On the August 16 edition of CBS' "60 Minutes," reporter Anderson Cooper reiterated the program's perspective that the company's flooring does not appear safe. During the rerun, head of environmental nonprofit Global Community Monitor Danny Larson -- who is suing the company with the help of attorney Richard Drury -- told the program he wants Lumber Liquidators to replace "every single board, at their cost." Drury added that, among households nationwide, there are "probably hundreds of thousands" using Lumber Liquidators products that exceed acceptable formaldehyde levels. As shown in the rerun, undercover investigators for "60 Minutes" visited three separate Chinese mills that claimed to be major suppliers to Lumber Liquidators -- and at all three mills, employees "openly admitted" to producing flooring with non-compliant formaldehyde levels, reportedly saving the company 10%-15%. Since the report first aired, former Lumber Liquidators CEO Robert Lynch has resigned and the company has met with numerous investigations. In a statement released this week, the embattled hardwood retailer said it has taken, and continues to take, action to protect its customers, though it offered no concrete details. Note that shares of Lumber Liquidators closed Friday at $14.02 after Tiger Management disclosed a 238,000 share position in the firm.
August 14, 2015
14:42 EDTLLLumber Liquidators rallies ahead of CBS rerun on new Tiger stake
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13:49 EDTLLTiger Management reports new 238,000 share position in Lumber Liquidators
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13:46 EDTLL'60 Minutes' to rerun with updates Lumber Liquidators piece, Bloomberg says
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10:27 EDTSCORcomScore management to meet with Brean Capital
Meeting to be held in San Francisco on August 19 hosted by Brean Capital.
08:35 EDTCJESHayman takes Mylan, Perrigo stakes, boasts exposure to energy
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