New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 5, 2013
10:29 EDTPWE, HFC, CLMT, MJN, HINKY, MPC, ELXOn 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
Sign up for a free trial to see the rest of the stories you've been missing.
February 27, 2015
07:35 EDTCLMTCalumet reports Q4 EPS excl items 86c, may not be comparable to 10c
Reports Q4 net income (95c). Reports Q4 revenue $1.34B, consensus $1.45B. Reports Q4 total sales volume of 122,945 bpd. Reports Q4 total facility production of 117,973 bpd.
07:33 EDTCLMTCalumet Specialty Products expects to purchase blending credits RINs
Subscribe for More Information
07:33 EDTCLMTCalumet Specialty Products sees FY15 CapEx $285M-$335M
Subscribe for More Information
February 26, 2015
16:52 EDTELXOn The Fly: Closing Wrap
Stocks on Wall Street moved in a narrow range for most of the session while remaining near record levels. The Nasdaq was the strongest of the indices, as it continues its march towards 5,000. Crude oil prices fell by over 5% during the regular trading session, but recovered a bit in after-hours trading. The market is on pace to complete its fourth consecutive week of gains and close out the month of February with gains after suffering losses in January. ECONOMIC EVENTS: In the U.S., the Consumer Price Index fell 0.7% in January, with the core rate rising 0.2%, versus expectations for the headline CPI to be down 0.6% and the core rate to rise 0.1%. Initial jobless claims rose 31K to 313K in the week ended February 21, versus expectations for 290K first-time claims. Durable goods orders rose 2.8% in January, versus expectations for a 1.6% increase. The FHFA home price index rose 0.8% to 218.6 in December, versus expectations for an increase of 0.5%. COMPANY NEWS: The Federal Communications Commission voted 3 to 2 in favor of adopting new open Internet, or "net neutrality," rules. FCC Chairman Tom Wheeler has proposed that the FCC use its Title II authority to implement and enforce "bright-line" rules to ban paid prioritization and the blocking and throttling of lawful content and services. However, Wheeler said his proposal will "modernize" Title II, insuring there will be no rate regulation, no tariffs, and no last-mile unbundling. Major Internet Service Providers, including Verizon (VZ), AT&T (T), and Comcast (CMCSA), have opposed the rules, while Netflix (NFLX) has been a strong and vocal supporter of open Internet provisions... Shares of International Business Machines (IBM) slipped $1.94, or 1.19%, to $160.87 after Big Blue held its investor day meeting in NYC. At the meeting, IBM backed its fiscal year profit view but also said that the company now expects currency to impact revenue growth by over 6 points for the full year, which is greater than the impact previously provided based on January 16 spot rates. IBM also said it was shifting $4B into "strategic initiatives," including Big Data, the Cloud, mobile, social and security... Barnes & Noble (BKS) rose $1.67, or 6.89%, to $25.92 after announcing plans to split its Education business from its Retail and NOOK Digital businesses. The separation into two independent, publicly traded companies is anticipated to be completed by the end of August and is intended to be a tax-free distribution to shareholders, B&N noted. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which jumped $1.57, or 24.69%, to $7.93 after the company agreed to be acquired by Avago Technologies (AVGO) for $606M, or $8 per share in cash. Avago also rose $16.57, or 14.71%, to $129.25 after announcing the deal and reporting "beat and raise" quarterly results. Also higher was UIL Holdings (UIL), which gained $9.74, or 23.01%, to $52.07 after the company agreed to be acquired by Iberdrola USA to create a newly listed U.S. publicly-traded company. The proposed transaction implies total value per share to UIL shareholders of $52.75, including $10.50 per share paid in the form of cash, the companies said. Among the noteworthy losers was Clayton Williams (CWEI), which fell $11.41, or 17.77%, to $52.79 after the company suspended drilling operations in both of its core resource plays, citing low oil prices, and its shares were downgraded at Wunderlich. Also lower following their earnings reports were network solutions provider Inteliquent (IQNT), which dropped $3.05, or 17.33%, to $14.55, and electric weapons maker TASER (TASR), which slid $4.36, or 16.14%, to $22.68. INDEXES: The Dow fell 10.15, or -0.06%, to 18,214.42, the Nasdaq gained 20.75, or 0.42%, to 4,987.89, and the S&P 500 declined 3.12, or 0.15%, to 2,110.74.
16:12 EDTMJNMead Johnson raises dividend to 41.25c per share from 37.5c per share
Subscribe for More Information
14:03 EDTHFCHollyFrontier upgraded to Outperform from Peer Perform at Wolfe Research
Subscribe for More Information
12:39 EDTELXOn The Fly: Midday Wrap
Subscribe for More Information
10:19 EDTELXHigh option volume stocks
Subscribe for More Information
09:25 EDTELXOn The Fly: Pre-market Movers
Subscribe for More Information
07:58 EDTELXAvago price target raised to $145 from $120 at Brean Capital
Subscribe for More Information
07:10 EDTELXAvago price target raised to $135 from $115 at Pacific Crest
Pacific Crest increased its price target on Avago (AVGO) after the company reported higher than expected EPS and in-line revenue. The firm is upbeat on the company's acquisition of Emulex (ELX), calling it "another accretive gem." Pacific Crest keeps an Outperform rating on Avago.
06:22 EDTELXAvago price target raised to $131 from $110 at Citigroup
Citigroup raised its price target for Avago Technologies (AVGO) to $131 saying the acquisition of Emulex (ELX) will help margin expansion. Citi says it does not view Avago as a wholly derivative play on Apple (AAPL) and it expects the company's diversification into end markets like storage and later auto to drive multiple expansion. Avago remains Citi's top specialty semiconductor pick following its Q4 results.
February 25, 2015
18:24 EDTELXOn The Fly: After Hours Movers
Subscribe for More Information
17:37 EDTELXQLogic rallies after Avago says purchasing Emulex for $8 per share
Shares of QLogic (QLGC) are higher in the extended session after peer Emulex (ELX) agreed to be bought for $8 per share in cash by Avago Technologies (AVGO). WHAT'S NOTABLE: Emulex and QLogic both make products for network infrastructure. After the close, Avago Technologies (AVGO) and Emulex Corporation (ELX) announced that they have entered into a definitive agreement under which Avago will acquire Emulex in an all-cash transaction valued at approximately $606M. Under the terms of the agreement, which has been approved by the boards of both companies, a subsidiary of Avago will commence a tender offer for all of the outstanding shares of Emulex common stock for $8 per share in cash. Avago expects to fund the transaction with cash available on its balance sheet. PRICE ACTION: Shares of Emulex are higher by almost 25%, while QLogic shares are up almost 5% in extended trading. Avago is up almost 6% to $118.56.
16:12 EDTELXAvago to acquire Emulex for $8 per share in cash
Subscribe for More Information
16:10 EDTELXAvago to acquire Emulex for $8 per share in cash
Subscribe for More Information
13:47 EDTHFCHollyFrontier reports Q4 EPS ($1.13), may not compare to consensus 22c
Subscribe for More Information
February 24, 2015
09:38 EDTHFCHollyFrontier downgraded to Sell from Trim at Tudor Pickering
Subscribe for More Information
February 17, 2015
07:15 EDTMJNConsumer Analyst Group of New York (CAGNY) to hold a conference
Subscribe for More Information
February 13, 2015
05:30 EDTMPCTesoro downgraded to Neutral from Conviction Buy at Goldman
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use