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Stock Market & Financial Investment News

News Breaks
November 12, 2012
10:00 EDTAT, TSM, WU, ANR, NYX, ACI, ORA, ETP, USM, NAV, DTSI, TRIP, DIS, CMAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Comerica (CMA) upgraded to Neutral from Sell at Citigroup... DTS, Inc. (DTSI) upgraded to Neutral from Underweight at JPMorgan... Disney (DIS) upgraded to Buy from Neutral at Citigroup... Energy Transfer Partners (ETP) upgraded to Buy from Neutral at BofA/Merrill... Navistar (NAV) upgraded to Outperform from Neutral at RW Baird... Ormat Technologies (ORA) upgraded to Equal Weight from Underweight at Barclays... TripAdvisor (TRIP) upgraded to Overweight from Underweight at Morgan Stanley... U.S. Cellular (USM) upgraded to Buy from Neutral at Citigroup... Arch Coal (ACI) upgraded to Market Perform from Underperform at BMO Capital. Alpha Natural (ANR) upgraded to Market Perform from Underperform at BMO Capital... TSMC (TSM) upgraded to Conviction Buy from Neutral at Goldman... Atlantic Power upgraded to Buy from Hold at Desjardins... NYSE Euronext (NYX) upgraded to Buy from Hold at Stifel Nicolaus... Western Union (WU) upgraded to Neutral from Underperform at DA Davidson.
News For CMA;DTSI;ETP;DIS;NAV;ORA;TRIP;USM;ACI;ANR;TSM;NYX;WU;AT From The Last 14 Days
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November 13, 2014
07:01 EDTDISHasbro deal with Disney could be impacted with merger, says Piper Jaffray
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06:02 EDTANRStocks with implied volatility movement; EFA ANR
Stocks with implied volatility movement; iShares MSCI EAFE Index Fund (EFA) 14, Alpha Natural (ANR) 112 according to iVolatility.
November 12, 2014
12:35 EDTDTSIDTS, Inc. price target raised to $41 from $32 at Barrington
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11:44 EDTDISSeaWorld sinks to 52-week low after Q3 profit, attendance fall
Shares of theme park and entertainment company SeaWorld (SEAS) are plunging after the company’s profit, attendance and adjusted EBITDA all fell significantly on a year over year basis. The also forecast fiscal year 2014 revenue and adjusted EBITDA to be down from last year. WHAT'S NEW: This morning, SeaWorld reported Q3 adjusted earnings per share of $1.01, missing analysts' $1.13 consensus by 12 cents. Revenue for the quarter was $495.84M, compared to analysts' consensus estimates of $495.4M. Adjusted EBITDA in the quarter was $209.1M, a decrease of $45.3M, or 18%, compared to the third quarter of 2013. Attendance in Q3 ws 8.4M, down from 8.9M a year ago. The company believes the decline in attendance results from a combination of factors including negative media attention in California along with a challenging competitive environment, particularly in Florida. The competitive challenges in Florida relate to significant new attraction offerings at competitor destination parks, along with a delay in the scheduled opening of one of the company's new rides at its Busch Gardens Tampa park. The decrease in total revenue in the third quarter was primarily driven by a 5.2% decline in attendance, along with a 2.9% decline in total revenue per capita from $60.74 in the third quarter of 2013 to $58.99. WHAT’S NOTABLE: Looking ahead, SeaWorld forecast FY14 revenue and adjusted EBITDA to be down 6%-7% and 14%-16%, respectively. The FY14 revenue consensus ahead of the company's report was $1.37B. The company also said it expects to take a restructuring charge of up to $13M in Q4 related to its cost reduction initiatives. The company sees FY14 capital expenditures to be in the range of $155M-$165M and fiscal year 2015 CapEx to be in the range of $185M-$195M. Jim Atchison, the company's Chief Executive Officer, noted that the attendance trends the company experienced in the latter part of the second quarter continued into Q3. He called 2014 a “challenging year,” and said the company was executing a cost savings plan that is expected to deliver approximately $50M of annual cost savings by the end of 2015. He also said the company was adjusting its attraction and marketing plans to address immediate top-line concerns. PRICE ACTION: In late morning trading, SeaWorld fell $2.24, or 12.04%, to $16.36 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $16.53. Including today's pull back, the shares have lost approximately 48% over the past 12 months. OTHERS TO WATCH: Other companies in the theme park space include Disney (DIS), up 0.03%, Six Flags (SIX), down 0.16%, and Cedar Fair (FUN), up 0.76%.
10:43 EDTDISBernstein downgrades Discovery, Viacom, citing 'structural decline' in TV
Research firm Bernstein sees strong evidence that audiences of ad-supported TV have entered a period of "structural decline." The firm cut its rating on Discovery (DISCA), the owner of the Discovery Channel and Animal Planet cable stations, and Viacom (VIA,VIAB), which owns MTV and and Nickelodeon. The firm also cut its price target on CBS (CBS). WHAT'S NEW: Noting that audiences for ad-supported TV have fallen by unprecedented amounts for four months, Bernstein analyst Todd Juenger added that consumption of subscription video on demand, or SVOD, services continue to grow. Meanwhile, TV networks are seeing increased competition from Internet websites for ad dollars, limiting the ability of the networks to raise ad prices, Juenger stated. The profit margins and return on investment of content owners are likely to decline over time, the analyst believes. He downgraded Discovery to Market Perform from Outperform and set a $37 price target on the stock, and cut Viacom to Underperform from Market Perform, placing a $71 price target on that stock. Juenger reduced his price target on CBS to $55 from $60 and kept a Market Perform rating on the shares. He kept Outperform ratings on 21st Century Fox (FOXA), Disney (DIS), and Time Warner (TWX), saying that those are least affected by the trend, as they are less dependent than their peers on the American TV ad market and have a large amount of sports programming. PRICE ACTION: In mid-morning trading, Discovery lost 0.6% to $31.81, Viacom class A shares gained 0.6% to $70.09, CBS fell 0.7% to $51.48, Twenty-First Century Fox class A shares lost 0.5% to $34.75, Time Warner fell 0.5% to $77.69 and Disney was flat near $90 per share.
10:07 EDTCMAHigh option volume stocks: DDS FOSL ZTS CMA CLVS CZR
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07:51 EDTDISDisney trades at a premium despite low forward growth, says Cowen
Cowen raised its price target on Disney shares to $83 from $75, but reiterated its Market Perform rating on Disney shares, citing the stock's premium trading valuation despite the lowest forward earnings growth of its peer group. The firm also cited higher sports programming costs, as well as difficulty envisioning outperformance to current estimates.
07:46 EDTACICowen to hold a conference
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November 11, 2014
18:19 EDTDISCBS, Disney look to block FCC Comcast merger disclosures, Bloomberg says
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10:00 EDTDTSIOn The Fly: Analyst Downgrade Summary
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08:46 EDTORAOrmat Technologies to host conference call
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06:25 EDTDTSIDTS, Inc. downgraded to Neutral from Buy at B. Riley
B. Riley downgraded DTS, Inc to Neutral due to valuation. Price target raised to $33.50 from $32.
November 10, 2014
17:36 EDTORAOrmat Technologies to acquire parent through share exchange
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16:22 EDTDTSIDTS, Inc. raises 2014 EPS outlook to $1.48-$1.55, consensus $1.47
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16:21 EDTDTSIDTS, Inc. reports Q3 EPS 39c, consensus 27c
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15:57 EDTDISWorldwide Business Research to hold a conference
ProcureCon for Digital & Marketing Services 2014 is being held in San Antonio on November 11-13.
13:35 EDTTSMTSMC reports October sales increase 55.9% from last year
Earlier today, TSMC announced its net revenues for October: On a consolidated basis, revenues for October were approximately NT$80.74B an increase of 7.9% from September and an increase of 55.9% over October 2013. Revenues for January through October totaled NT$621.02B, an increase of 23.5% compared to the same period in 2013.
09:58 EDTATAtlantic Power upgraded to Hold from Reduce at TD Securities (pre-open)
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08:04 EDTWUWestern Union is poised to break out, says Macquarie
Macquarie's recent management meeting reinforced its view that Western Union is poised to break out as the company continues to benefit from lower than expected compliance costs, which should boost margins. The analyst expects Western Union's scale and lower run rate of compliance costs will generate a strong competitive advantage over smaller money transfer players and banks and for C2C transactions growth and innovative products to drive long-term outlook. Shares are Outperform rated with a $21 price target.
06:28 EDTTSMReport: TSMC may buy Qualcomm Taiwan factory, DigiTimes says
TSMC (TSM) is considering an acquisition of Qualcomm's (QCOM) Taiwan factory to expand its packaging and test business, reports DigiTimes. Citing a Chinese-language Economic Daily News report, the Qualcomm factory will be acquired for several billion NT dollars. Reference Link
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