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Stock Market & Financial Investment News

News Breaks
November 12, 2012
10:00 EDTWU, ANR, NYX, AT, TSM, TRIP, DIS, CMA, ACI, ORA, ETP, USM, NAV, DTSIOn 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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January 28, 2016
09:38 EDTDISActive equity options trading on open
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08:53 EDTCMAComerica upgraded on valuation at BMO Capital
As noted earlier, BMO Capital upgraded Comerica to Market Perform from Underperform. The firm upgraded the stock based on valuation, and said that it is not concerned about the adequacy of the bank's capital. Target to $38 from $43.
06:39 EDTCMABombardier sued by Comerica for jet payments, Reuters reports
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06:32 EDTTRIPTripAdvisor downgraded to Underperform from Market Perform at Raymond James
Raymond James downgraded TripAdvisor to Underperform given the combination of a more challenging macro environment and model shift. The firm's analyst believes many top sites are struggling to drive transaction revenue and believes TripAdvisor will need to spend more on marketing to accelerate Instant Book usage.
06:04 EDTCMAComerica upgraded to Market Perform from Underperform at BMO Capital
January 27, 2016
16:29 EDTETPEnergy Transfer Partners does not see need for common equity issuance in 2016
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16:28 EDTETPEnergy Transfer Partners evaluating project financing of Bakken pipeline
Energy Transfer Partners (ETP) announced it is evaluating project financing of the Bakken Pipeline. "This measure would materially reduce the direct spending required for this project and would substantially further reduce ETP's and Sunoco Logistics Partners' (SXL) 2016 growth capital funding requirements," the company noted.
16:27 EDTETPEnergy Transfer Partners sees FY16 growth capital funding $4.2B
Energy Transfer Partners announced it has identified approximately $750M of growth capital expenditures that can be reduced in 2016. ETP's current growth capital funding estimates for 2016 are $4.2B, compared to $4.95B that ETP previously projected.
10:20 EDTTRIPGoldman says sell TripAdvisor as Airbnb adds to industry challenges
The outlook for online travel agencies, or OTAs, has become less favorable, partly due to increased competition from alternative lodging providers like Airbnb, Goldman Sachs wrote in a note to investors today. The firm downgraded one of the stocks in the sector, Priceline (PCLN), to Neutral from Buy, and cut another online travel agency, TripAdvisor (TRIP), to Sell from Neutral. WHAT'S NEW: Amid high lodging occupancy rates and below average supply growth, more travelers are embracing alternative lodging options like Airbnb, cutting out the OTAs, wrote Goldman analyst Heath Terry. Additionally, high occupancy rates are enabling hotels to seek better terms from OTAs, the analyst stated. Meanwhile, OTAs have increased their penetration of the hotel sector, leaving less room for share gains, Terry stated. Turning to specific stocks, the analyst expects Priceline to be hurt by the stronger dollar as well as increased competition from alternative lodging options. He anticipates that TripAdvisor's bottom line will be lowered by its efforts to convince hotels to join its Instant Booking program by granting them more favorable deal terms. Terry kept a Neutral rating on Expedia, but said that the stock could drop further, given the company's high exposure to large hotel chains, the competitive challenges it's facing, and integration risks from four major acquisitions it has made over the last two years. He cut his price target on Priceline to $1,200 from $1,500 and on TripAdvisor to $59 from $68. Terry has a $93 price target on Expedia. PRICE ACTION: In early trading, Priceline fell 3.5% to $1,073, TripAdvisor lost 3.2% to $67.44, and Expedia declined 2.2% to $102.61.
10:18 EDTDISMattel and Disney Consumer Products announce renewed agreement
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10:00 EDTTRIPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BG Group (BRGYY) downgraded to Neutral from Outperform at Credit Suisse... Bed Bath & Beyond (BBBY) downgraded to Sell from Neutral at Citi... Bill Barrett (BBG) downgraded to Neutral from Buy at Ladenburg... Brown & Brown (BRO) downgraded to Underweight at Morgan Stanley... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at BTIG... Canadian National (CNI) downgraded to Market Perform from Outperform at Raymond James... DreamWorks (DWA) downgraded to Sell from Hold at Topeka... FirstMerit (FMER) downgraded at RBC Capital... Gentex (GNTX) downgraded to Neutral from Outperform at Baird... Haverty Furniture (HVT) downgraded to Sector Weight from Overweight at KeyBanc... Hercules Technology (HTGC) downgraded to Neutral from Buy at Compass Point... Horizon Technology (HRZN) downgraded to Market Perform from Outperform at Raymond James... Installed Building downgraded to Sector Weight from Overweight at KeyBanc... Jarden (JAH) downgraded to Neutral from Buy at Citi... K+S (KPLUF) downgraded to Sell from Hold at Berenberg... La-Z-Boy (LZB) downgraded at BB&T... Legacy Reserves (LGCY) downgraded to Market Perform from Outperform at FBR Capital... Medivation (MDVN) downgraded to Hold from Buy at Canaccord... Merck (MRK) downgraded to Neutral from Buy at BofA/Merrill... Metaldyne Performance (MPG) downgraded to Neutral from Outperform at Baird... Pier 1 Imports (PIR) downgraded to Sector Weight from Overweight at KeyBanc... Priceline (PCLN) downgraded to Neutral from Buy at Goldman... Profire Energy (PFIE) downgraded to Neutral from Buy at Chardan... Regeneron (REGN) downgraded to Hold at Canaccord... Starwood (HOT) downgraded to Underperform from Outperform at CLSA... Swiss Re (SSREY) downgraded to Equal Weight from Overweight at Morgan Stanley... TSYS (TSS) downgraded to Equal-Weight from Overweight at First Analysis... Talmer Bancorp (TLMR) downgraded to Sector Perform from Outperform at RBC Capital... TopBuild (BLD) downgraded to Sector Weight from Overweight at KeyBanc... TripAdvisor (TRIP) downgraded to Sell from Neutral at Goldman... VMware (VMW) downgraded to Hold from Buy at Summit Research... W.R. Grace (GRA) downgraded to Buy from Conviction Buy at Goldman... WEC Energy (WEC) downgraded to Neutral from Conviction Buy at Goldman... Welltower (HCN) downgraded to Underperform from Market Perform at BMO Capital... Yamana Gold (AUY) downgraded to Neutral from Overweight at JPMorgan.
09:12 EDTTRIPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Biogen (BIIB), up 5.6%... Hawaiian Holdings (HA), up 6.7%... Capital One (COF), up 1.5%. ALSO HIGHER: Capnia (CAPN), up 34.1% after entering into an exclusive distribution agreement with Bemes... Fate Therapeutics (FATE), up 18.6% after announcing that the FDA has cleared the company's investigational new drug application for ProTmune... Raptor Pharmaceutical (RPTP), up 12.1% after being upgraded to Buy from Neutral at Citi... Aquinox (AQXP), up 5.6% after Baker Bros. buys 140,786 shares in the company... Sunedison (SUNE), up 7.4% after SunEdison and Greenlight Capital announced that they have mutually agreed to corporate governance initiatives... Citizens Financial Group (CFG), up 3% after it will be added to the S&P 500... Terex (TEX), up 5.2% after being upgraded to Neutral from Underweight at JPMorgan. DOWN AFTER EARNINGS: Tupperware Brands (TUP), down 11.4%... VMware (VMW), down 6.5%... Textron (TXT), down 9.9%... Cliffs Natural (CLF), down 5.8%... Boeing (BA), down 6.2%... Fiat Chrysler (FCAU), down 3%... Apple (AAPL), down 3.4%. ALSO LOWER: Priceline (PCLN), down 2.9% after being downgraded to Neutral from Buy at Goldman... Bed Bath & Beyond (BBBY), down 4.2% after being downgraded at Citi and KeyBanc... Tripadvisor (TRIP), down 5.5% after being downgraded to Sell from Neutral at Goldman.
06:04 EDTTRIPTripAdvisor downgraded to Sell from Neutral at Goldman
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06:02 EDTTRIPPriceline downgraded to Neutral from Buy at Goldman
Goldman Sachs analyst Heath Terry downgraded Priceline (PCLN) to Neutral saying the environment for online travel agents is becoming less favorable amid high occupancy and rising competition from alternative accommodation providers. Terry cut his price target for the shares to $1,200 from $1,500. He continues to believe Priceline is the best positioned in the space, however. The analyst this morning also downgraded TripAdvisor (TRIP) to Sell and kept a Neutral rating on Expedia (EXPE).
January 26, 2016
19:54 EDTDISIMAX announces Spider-Man to be released in IMAX 3D Theatres
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10:40 EDTTRIPTripAdvisor adds key supplier with Starwood, says Piper Jaffray
Piper Jaffray analyst Michael Olson says that while expected following Marriott's (MAR) acquisition of Starwood, the partnership enabling Starwood's hotel inventory on TripAdvisor's (TRIP) Instant Book is a positive. TripAdvisor is making "tremendous strides" in building its supplier network, Olson tells investors in a research note. He reiterates an Overweight rating on the stock with a $120 price target.
10:00 EDTDISOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Amec Foster Wheeler (AMFW) downgraded to Hold from Buy at HSBC... CVR Refining (CVRR) downgraded to Sell from Neutral at Goldman... Cenovus Energy (CVE) downgraded to Neutral from Buy at UBS... Clean Harbors (CLH) downgraded to Underperform from Market Perform at Raymond James... Core Laboratories (CLB) downgraded to Reduce from Hold at HSBC... Delek US (DK) downgraded to Neutral from Buy at Goldman... Deutsche Post (DPSGY) downgraded to Underperform from Outperform at Credit Suisse... Disney (DIS) downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities... Dorian LPG (LPG) downgraded to Market Perform from Outperform at Wells Fargo... Encana (ECA) downgraded to Neutral from Buy at UBS... Fortinet (FTNT) downgraded to Hold from Buy at Deutsche Bank... Fortune Brands (FBHS) downgraded to Neutral from Outperform at Credit Suisse... General Growth (GGP) downgraded to Equal Weight from Overweight at Barclays... Golden Ocean (GOGL) downgraded to Underweight from Neutral at JPMorgan... Grupo Mexico (GMBXF) downgraded to Neutral from Overweight at JPMorgan... Halliburton (HAL) downgraded to Hold from Buy at HSBC... Marketo (MKTO) downgraded to Underperform at BofA/Merrill... Navios Maritime (NM) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Underperform at BofA/Merrill... OM Asset Management (OMAM) downgraded to Equal Weight at Morgan Stanley... Paylocity (PCTY) downgraded to Underperform from Neutral at BofA/Merrill... Pennsylvania REIT (PEI) downgraded to Underweight from Equal Weight at Barclays... Pinnacle West (PNW) downgraded to Hold from Buy at Evercore ISI... Public Storage (PSA) downgraded to Equal Weight from Overweight at Barclays... Red Hat (RHT) downgraded to Neutral from Buy at BofA/Merrill... Regal Entertainment (RGC) downgraded on valuation at RBC Capital... Rouse Properties (RSE) downgraded to Equal Weight from Overweight at Barclays... Star Bulk Carriers (SBLK) downgraded to Neutral from Overweight at JPMorgan... Stratasys (SSYS) downgraded to Neutral from Overweight at JPMorgan... Subsea 7 (SUBCY) downgraded to Reduce from Hold at HSBC... US Ecology (ECOL) downgraded to Market Perform from Outperform at Raymond James... USG (USG) downgraded to Underperform from Neutral at Credit Suisse... Vornado (VNO) downgraded to Equal Weight from Overweight at Barclays... Weir Group (WEIGY) downgraded to Underperform from Hold at Jefferies.
09:03 EDTTRIPStarwood, TripAdvisor announce new instant booking partnership
Starwood Hotels & Resorts Worldwide (HOT) and TripAdvisor (TRIP) have partnered to make Starwood's global hotel portfolio accessible on the TripAdvisor instant booking platform.
08:26 EDTDISTwitter in play after executive departures, says Cantor
Cantor Fitzgerald analyst Youssef Squali believes yesterday's news of several senior executives leaving Twitter (TWTR) puts the company in play and could encourage potential bidders to step forward. Twitter's current valuation and sizeable user base makes it a strategic asset for a number of potential buyers, Squali told investors last night in a research note. Potential suitors on the technology side include Alphabet (GOOG, GOOGL), Facebook (FB) and Microsoft (MSFT), the analyst contends. On the media side, Squali thinks 21st Century Fox (FOXA), Disney (DIS), Comcast (CMCSA) or Time Warner (TWX) could express interest in Twitter. No concentration of share ownership and no super-voting structure increase the odds of a buyout, Squali argues. The analyst, however, adds that the executive departures are not good news for a company in the midst of a turnaround. He maintains a Buy rating on the microblogging operator with a $45 price target. Twitter closed yesterday down 82c, or 5%, to $17.02..
06:54 EDTDISDisney downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities
Atlantic Equities analyst Hamilton Faber downgraded Disney to Neutral from Overweight and cut his price target to $104 from $148. Faber looked at how cord cutting will affect ESPN and is concerned about high levels of fixed costs in its sports rights while ESPN faces revenue headwinds. The analyst's 20 year ESPN model forecasts strong five year growth of +9% per year, but average growth over the following five years is -12% and negative thereafter. Faber reduced ESPN subscriber forecasts and no longer believes Disney's premium valuation is sustainable.
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