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Stock Market & Financial Investment News

News Breaks
March 27, 2013
12:14 EDTLOGM, CLF, MFRM, RAX, AOLOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday though well off their worst levels. The market dropped sharply at the open, with the early weakness being attributed to continued worries about Europe, where Cyprus has yet to reopen its banks and Italy is still struggling to form a new government. The selling soon pushed the Dow to triple digit losses, but the Dow and the other averages cut their losses by more than half by noon. In addition to the impending holiday weekend, the end of the quarter is approaching and investment managers may be making portfolio adjustments today and tomorrow since they will be unable to on Friday... ECONOMIC EVENTS: In the U.S., pending home sales dipped 0.4% in February from the prior month, compared to expectations for a 0.3% decline. On a year-over-year basis, however, pending sales were up 5%. In Europe, Italian benchmark bonds fell after the nation's Democratic Party leader Pier Luigi Bersani said there was no possibility of a broad coalition to resolve the deadlock caused by last month's elections... COMPANY NEWS: Cliffs Natural Resources (CLF) was in the sights of a number of Wall Street analysts, as Morgan Stanley cut its rating on the stock to Underweight from Equal Weight and Credit Suisse lowered its price target on the stock to $10 from $30. Goldman Sachs upgraded Cliffs due to valuation, but that only brought the firm's rating up to a Neutral from its prior Sell recommendation. Shares of Cliffs sank 15% following the flurry of notes to investors... MAJOR MOVERS: Among the notable gainers were Mattress Firm (MFRM), up 10% following its earnings report, and AOL (AOL), up over 7% after being upgraded at Barclays. Among the noteworthy losers was LogMeln (LOGM), which slid 12% near noon to give back some of the 20% advance it garnered yesterday following a positive ruling in a patent lawsuit. Also lower were shares of Rackspace (RAX), which fell 4% after CLSA initiated coverage of the stock with an Underperform rating and $52 price target... INDICES: Near noon, the Dow was down 44.94, or 0.31%, to 14,514.71; the Nasdaq was down 6.03, or 0.19%, to 3,246.45; and the S&P 500 was down 4.09, or 0.26%, to 1,559.68.
News For CLF;AOL;MFRM;LOGM;RAX From The Last 14 Days
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April 15, 2015
10:46 EDTCLFBofA/Merrill metals/mining/steel analysts hold analyst/industry conference call
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April 14, 2015
07:02 EDTAOLAOL launches ONE by AOL
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April 13, 2015
09:10 EDTMFRMMattress sales grew 8.3% in February, ISPA says
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April 10, 2015
10:12 EDTAOLAOL says ‘CONNECTED’ tops 1M views in first week
AOL’s first long-form series for AOL Originals, CONNECTED, received over one million views in its first week, and more than 15% of views of the series’ first episode were on over-the-top devices, the company announced.
April 9, 2015
11:11 EDTAOLOptions with increasing implied volatility
Options with increasing implied volatility: TLM WETF GRPN TRIP GMCR MYL AOL WB WFM EA
10:00 EDTLOGMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Adobe (ADBE) initiated with an Overweight at Stephens... Aimco (AIV) initiated with a Neutral at Janney Capital... Akamai (AKAM) initiated with a Hold at Deutsche Bank... Anadarko (APC) initiated with an Outperform at BMO Capital... Apache (APA) initiated with a Market Perform at BMO Capital... Arista Networks (ANET) initiated with a Neutral at Wedbush... AvalonBay (AVB) initiated with a Neutral at Janney Capital... BioScrip (BIOS) initiated with a Buy at Craig-Hallum... Brinker (EAT) initiated with a Buy at Longbow... Broadcom (BRCM) initiated with a Buy at Ladenburg... Camden Property (CPT) initiated with a Neutral at Janney Capital... Canadian National (CNI) initiated with an Overweight at Atlantic Equities... Canadian Pacific (CP) initiated with an Overweight at Atlantic Equities... Cancer Genetics (CGIX) initiated with a Buy at Janney Capital... Denny's (DENN) initiated with a Buy at Longbow... Equity Residential (EQR) initiated with a Neutral at Janney Capital... Essex Property Trust (ESS) initiated with a Neutral at Janney Capital... Fifth Third (FITB) initiated with a Buy at Evercore ISI... Garrison Capital (GARS) initiated with a Buy at Maxim... GrubHub (GRUB) initiated with a Hold at Wunderlich... Hess Corp. (HES) initiated with a Market Perform at BMO Capital... Home Properties (HME) initiated with a Buy at Janney Capital... Huntington Bancshares (HBAN) initiated with a Buy at Evercore ISI... Intersect ENT (XENT) initiated with a Buy at CRT Capital... Jack in the Box (JACK) initiated with a Neutral at Longbow... KeyCorp (KEY) initiated with a Hold at Evercore ISI... LogMeln (LOGM) initiated with a Neutral at JPMorgan... Marathon Oil (MRO) initiated with a Market Perform at BMO Capital... Marvell (MRVL) initiated with an Outperform at Cowen... Masonite (DOOR) initiated with an Outperform at Macquarie... Mid-America Apartment (MAA) initiated with a Buy at Janney Capital... Natures Sunshine Products (NATR) initiated with an In-Line at Imperial Capital... Nielsen (NLSN) initiated with an Outperform at Telsey Advisory... Plug Power (PLUG) initiated with an Equal Weight at Morgan Stanley... Post Properties (PPS) initiated with a Neutral at Janney Capital... QTS Realty Trust (QTS) initiated with a Buy at Evercore ISI... Rentrak (RENT) initiated with an Outperform at Telsey Advisory... RiceBran (RIBT) initiated with a Buy at Maxim... StarTek (SRT) initiated with a Buy at Lake Street... Tribune Media (TRCO) initiated with an Outperform at Wells Fargo... TrueCar (TRUE) initiated with a Hold at Wunderlich... UDR, Inc. (UDR) initiated with a Neutral at Janney Capital... comScore (SCOR) initiated with a Market Perform at Telsey Advisory.
10:00 EDTRAX, CLFOn The Fly: Analyst Downgrade Summary
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09:27 EDTCLFOn The Fly: Pre-market Movers
HIGHER: Pier 1 Imports (PIR), up 5.8% after earnings beat estimates, dividend boosted, and shares upgraded at Wedbush... Novogen (NVGN) rose after announcing that Australian studies revealed its experimental drug, Anisina, killed melanoma cells irrespective of their mutational status. Shares of small-cap Novogen rose 35% in pre-market trading following the company's report on the studies... TASER (TASR), up 3.8% after announcing UK order from London for 178 AXON body cameras... United Continental (UAL), up 2.8% after narrowing Q1 PRASM forecast... Walgreens Boots Alliance (WBA), up 2.4% after reporting Q2 results. LOWER: Zynga (ZNGA), down 12% after announcing last night that current CEO Don Mattrick will depart the company and the board and Mark Pincus, Zynga's founder and chairman, will return to the role of CEO... Alcoa (AA), down 2% after reporting Q1 financial results and giving 2015 guidance... Cliffs Natural (CLF), down 4.6% after BMO Capital cut it rating to the equivalent of sell and halved its price target on the stock to $4.
09:13 EDTRAXRackspace downgraded to Neutral from Buy at BofA/Merrill
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08:42 EDTCLFVale cut to sell, target halved to $4.50 at BMO Capital
BMO Capital downgraded Vale (VALE) to Underperform, its sell rating equivalent, from Market Perform saying the iron ore oversupply is "not letting up." BMO points out that Vale's free cash flow is highly leveraged to the iron price. It cut its price target for shares in half to $4.50 from $9. BMO also lowered its iron ore forecast prices by 13%-20% for 2015-2018. The firm coupled the downgrade of Vale with a downgrade of Cliffs Natural (CLF) to Underperform.
08:36 EDTCLFCliffs Natural cut to sell, target halved to $4 at BMO Capital
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06:39 EDTCLFCliffs Natural downgraded to Underperform from Market Perform at BMO Capital
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05:34 EDTLOGMLogMeln initiated with a Neutral at JPMorgan
Target $61.
April 8, 2015
11:29 EDTAOLOptions with increasing implied volatility
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09:08 EDTCLFCliffs Natural asks permission to put assets in Canada up for sale, CP says
Cliffs Natural Resources subsidiaries, which filed for creditor protection in January, are seeking permission to put the Bloom Lake mine, the Wabush Mine, and related port and rail assets up for sale next month, reported Canadian Press, citing a motion filed by monitor FTI Consulting Canada. Reference Link
08:59 EDTMFRMMattress Firm 1.505M share Spot Secondary priced at $66.80
The deal range was $66.64-$66.97. UBS acted as sole book running manager for the offering.
April 7, 2015
17:19 EDTMFRMMattress Firm 1.505M share Spot Secondary; price range $66.64-$66.97
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16:36 EDTMFRMMattress Firm files to sell 1.505M shares of common stock for holders
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12:36 EDTAOLOptions with increasing implied volatility
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11:28 EDTCLFStocks with call strike movement; CLF PBR
Cliffs Natural (CLF) October 6 call option implied volatility decreased 2% to 66, Petrobras (PBR) October 8 call option implied volatility decreased 2% to 61 according to IVolatility.
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