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Stock Market & Financial Investment News

News Breaks
July 5, 2013
10:29 EDTMPC, ELX, PWE, HFC, CLMT, MJN, HINKYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Calumet Specialty (CLMT) downgraded to Underperform from Neutral at BofA/Merrill... Emulex (ELX) downgraded to Hold from Buy at Argus... Heineken (HINKY) downgraded to Underweight from Neutral at JPMorgan... HollyFrontier (HFC) downgraded to Neutral from Buy at National Securities... Marathon Petroleum (MPC) downgraded to Neutral from Buy at BofA/Merrill... Mead Johnson (MJN) downgraded to Equal Weight from Overweight at Morgan Stanley... Penn West Exploration (PWE) downgraded to Sell from Neutral at Dundee.
News For CLMT;ELX;HINKY;HFC;MPC;MJN;PWE From The Last 14 Days
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February 5, 2016
10:02 EDTMPCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ashford Hospitality Prime (AHP) downgraded to Neutral from Buy at SunTrust... Cascade Microtech (CSCD) downgraded to Hold from Buy at Craig-Hallum... Cinemark (CNK) downgraded to Neutral from Outperform at Credit Suisse... ConocoPhillips (COP) downgraded to Sector Perform from Outperform at Scotia Howard Weil... Credit Suisse (CS) downgraded to Equal Weight from Overweight at Morgan Stanley... Cree (CREE) downgraded to Neutral from Overweight at JPMorgan... Deckers Outdoor (DECK) downgraded to Neutral from Buy at BofA/Merrill... Esterline (ESL) downgraded to Hold from Buy at Canaccord... GrubHub (GRUB) downgraded to Perform from Outperform at Oppenheimer... Kohl's (KSS) downgraded to Underweight from Neutral at Atlantic Equities... LINN Energy (LINE) downgraded to Sell from Hold at Stifel... LinkedIn (LNKD) downgraded to Sector Perform from Outperform at RBC Capital... LinnCo (LNCO) downgraded to Sell from Hold at Stifel... Magellan Midstream (MMP) downgraded to Neutral from Outperform at Credit Suisse... Marathon Petroleum (MPC) downgraded to Neutral from Overweight at JPMorgan... Multi-Fineline (MFLX) downgraded to Hold from Buy at Needham... NIC Inc. (EGOV) downgraded to Market Perform from Outperform at Avondale... Outerwall (OUTR) downgraded to Neutral from Overweight at Piper Jaffray... PPL Corp. (PPL) downgraded to Hold from Buy at Deutsche Bank... PennyMac Mortgage (PMT) downgraded to Equal Weight from Overweight at Barclays... Pixelworks (PXLW) downgraded to Hold from Buy at Lake Street... Qorvo (QRVO) downgraded to Sell from Neutral at Citi... Ralph Lauren (RL) downgraded to Underperform from Neutral at BofA/Merrill... TrueBlue (TBI) downgraded on macro concerns at BMO Capital... WEC Energy (WEC) downgraded to Hold from Buy at Deutsche Bank.
06:27 EDTMPCMarathon Petroleum downgraded to Neutral from Overweight at JPMorgan
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February 3, 2016
16:40 EDTMPCOn The Fly: Top stock stories for Wednesday
Stocks began the session in positive territory but were unable to hold their early gains. Following larger than expected builds in energy inventories, oil moved lower, taking equities with it. By the noon hour oil prices recovered and moved higher once again, helping to lift equities. While oil prices continued their advance and moved up more than 7%, stocks lagged, especially the Nasdaq, which was down as much as 1.5% this afternoon. That changed in the last hours of trading, which saw the Dow spurt higher and the Nasdaq recover most of its losses heading into another heavy dose of corporate earnings reports after the close. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 4.75% to $27.68 after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's chairman, said the board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders... Chipotle Mexican Grill (CMG) fell 2.89% to $461.92 after reporting lower than expected revenue and a 14% plunge in same-store sales for the quarter. Adding to the negative headlines, the restaurant operator also disclosed a subpoena broadening the scope of a criminal investigation that was previously limited to a single Chipotle location in California. Also punished by food safety worries were shares of Buffalo Wild Wings (BWLD), which slid 4.24% to $143.64 after one of its restaurants was named a suspected source of new norovirus-like cases in suburban Kansas City, though the company disputed a link between its location and the illnesses. The stock continued to move lower in after-hours trading following the company's earnings report and lower than expected guidance... Merck (MRK) was one of the worst performers on the Dow, dipping to as low as $48.58 before ending the day down 0.7% at $50.04 after its earnings narrowly topped estimates but guidance for the new year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 5.95% following its report, while General Motors (GM) slid 2.43%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied 8% to $49.56 after announcing a restructuring plan that will see its workforce cut by roughly 10%. Also higher was Angie's List (ANGI), which jumped 13.53% to $9.48 after the New York Post reported that InterActiveCorp (IAC) is preparing a "big run" to acquire the company. In addition, Syngenta (SYT) rose 2% to $80.21 after receiving a $43B-plus takeover offer from ChemChina. Among the noteworthy losers was Lowe's (LOW), which fell 6.2% to $67.42 after agreeing to acquire Canada's RONA in a deal valued at $2.3B. Also lower was Barnes & Noble (BKS), which declined 9.6% to $7.32 after mall operator General Growth (GGP) said during a conference call that Amazon (AMZN) plans to open 300-400 physical bookstores. After the closing bell, General Growth CEO Sandeep Mathrani indicated that his previous statement "was not intended to represent Amazon's plans." Meanwhile, Marathon Petroleum (MPC), Mondelez (MDLZ) and Match Group (MTCH) lost 7.6%, 6.5% and 12.6%, respectively, following their quarterly reports. INDEXES: The Dow rose 183.12, or 1.13%, to 16,336.66, the Nasdaq fell 12.71, or 0.28%, to 4,504.24, and the S&P 500 advanced 9.50, or 0.5%, to 1,912.53.
06:43 EDTMPCMarathon Petroleum reports Q4 EPS 35c with items, consensus 69c
Reports Q4 revenue $15.68M, consensus $16.35B. Q4 EPS includes a pretax charge of $370M or 44c per share to value inventories at lower of cost or market.
February 2, 2016
14:32 EDTMPCNotable companies reporting before tomorrow's open
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January 28, 2016
07:35 EDTMJNMead Johnson sees FY16 EPS ex-items $3.48-$3.60, consensus $3.52
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07:34 EDTMJNMead Johnson reports Q4 EPS ex-items 78c, consensus 73c
Reports Q4 revenue $967M, consensus $965.78M. Sales in all segments were adversely impacted by a strengthening dollar, most notably in China, Mexico and Canada. Further, sales in the current quarter were below the prior year quarter mostly due to price-based promotions in Greater China and market share weakness in Malaysia and Thailand. Sales in the Philippines increased compared to the prior year quarter.
06:50 EDTPWEPenn West approves FY16 Capital Budget of $50M
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06:46 EDTPWEPenn West expects FY16 annual production 60K,BOE/d-64K BOE/d
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06:46 EDTPWEPenn West sees FY16 production 60,000-64,000 boe/d
Penn West provided the following comments regarding production for FY16: "Given our focus on managing the business at current price levels, we continue to monitor the profitability of each of our fields. Our Budget reflects expected shuts ins of up to 4,000 boe/d of uneconomic non-core production during Q1 of 2016. We also anticipate that low commodity prices will weigh on the profitability of individual equipment repair or replacement projects at a certain portion of our non-core fields. Therefore, we estimate the deferral of these projects will reduce our 2016 annual average production by an additional 2,500 boe/d. We will be positioned to execute on these repair opportunities as the project economics improve to levels that warrant investment. As a result of optimizing our operations for the current price environment, including the significant reductions to our capital program, we expect average annual production in 2016 between 60,000 boe/d and 64,000 boe/d, with a liquids weighting between 66% and 68%. These ranges do not take into account any potential dispositions. Our base decline remains approximately 20% to 22%."
06:44 EDTPWEPenn West reports Q4 production voumes over 77,000 boe/d
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06:44 EDTPWEPenn West approves capital budget of $50M for FY16
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