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February 13, 2013
12:24 EDTCMCSA, GE, PRLB, DDD, XONE, WCG, RATE, RAX, CLFOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday following the president's State of the Union address and a report that showed retail sales growth slowed in January. The Dow and S&P have moved back and forth across the flat line while the Nasdaq remained in positive ground throughout the morning, but was well off its early day highs near noon... ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in January, which was in-line with expectations though down from a 0.5% gain in December. Import prices rose 0.6% during the month, versus expectations for an increase of 0.8%, while Export prices were up 0.3% in January, matching the consensus forecast. Business inventories grew 0.1% in December, versus expectations for a 0.2% increase. Additionally, in his State of the Union address last night, President Obama outlined a mix of old and new proposals intended to jump-start the domestic economy as well as urging Congress to raise the minimum wage to $9 an hour from the existing $7.25. In Europe, Q4 industrial production fell 2.4% from the previous quarter, though production in the euro-zone rose 0.7% on the month in December... COMPANY NEWS: Comcast (CMCSA) announced several important developments late Tuesday and investors reacted favorably, sending its stock up over 4%. The company reported its Q4 results but also announced it will buy General Electric’s (GE) remaining 49% equity stake in NBCUniversal for $16.7B, increased its dividend by 20% to 78c per share and said it plans to buy back $2B of its stock in 2013. After the earlier than expected sale of the JV interest, GE said it was raising its share repurchase plan to $35B and accelerating its 2013 share buybacks to about $10B and its shares rose about 3%... MAJOR MOVERS: Among the notable gainers was Proto Labs (PRLB), up 23%, after its better than expected earnings report as well as a positive mention of 3D printing technology by President Obama last night. Shares of publicly traded 3D printer makers moved up as well, including 3D Systems (DDD) and ExOne (XONE). Also higher were shares of WellCare (WCG), which gained 10% after its earnings and revenue both beat consensus expectations. Among the noteworthy losers after earnings reports that sparked analyst downgrades were Bankrate (RATE), down nearly 20% and downgraded at Citi, Rackspace (RAX), down 18% and downgraded at Stifel Nicolaus, and Cliffs Natural (CLF), which was downgraded at Deutsche Bank, Citi and Macquarie and saw shares fall about 19%... INDICES: Near noon, the Dow was down 44.62, or 0.32%, to 13,974.08; the Nasdaq was up 4.55, or 0.14%, to 3,191.04; and the S&P 500 was up 0.30, or 0.02%, to 1,519.73.
News For CMCSA;GE;PRLB;DDD;XONE;WCG;RATE;RAX;CLF From The Last 14 Days
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October 15, 2014
09:03 EDTGEGE unit arranges $200M senior debt facility
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08:59 EDTCLFCliffs Natural price target lowered to $4 from $8 at BofA/Merrill
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07:42 EDTRAX, RAXRackspace upgraded to Outperform from Sell at CLSA
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07:32 EDTDDDUBM Canon to hold a conference
PLASTEC Midwest Conference is being held in Chicago on October 15-16.
October 14, 2014
17:56 EDTCLFCliffs Natural looks to sell Bloom Lake mine, Globe and Mail says
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10:01 EDTRAXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
09:46 EDTGEGE signs contract with ENKA to supply power generation equipment in Iraq
GE has signed a contract with ENKA to supply power generation equipment for a new 750-megawatt combined-cycle plant being developed by Qaiwan Group in Iraq. GE will provide four 9E gas turbines and one steam turbine for a new power plant in Sulaimaniyah to support the government’s goal of strengthening the electricity infrastructure in the Kurdistan region. Through its regional partnerships, GE’s turbines support more than 90% of the electricity generated in the Kurdistan region, supplying nearly 20 hours of electricity a day. The Erbil, Sulaiymaniyah and Dohuk plants, powered by 24 GE 9E gas turbines, produce more than 3,000 MW, the equivalent to the required annual energy needs of approximately 3 million households in Iraq. The Bazyan plant will help deliver power to an additional 750,000 households.
07:21 EDTCLFCliffs Natural in pact with Casablanca on certain standstill, voting obligations
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05:50 EDTRAXRackspace upgraded to Buy from Hold at Evercore
October 13, 2014
10:08 EDTRATE, CLFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
09:39 EDTCLFActive equity options trading on open
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09:23 EDTRAXHP could buy lower valuation company, says Bernstein
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09:02 EDTGEGE receives order from BAE Systems for 3U VPX rugged systems
GE’s Intelligent Platforms business (GE) announced at AUSA that it had received a $2.6M order from BAE Systems Platforms and Services (BAESY) for a quantity of its latest generation 3U VPX COTS Rugged Systems that deliver an advanced HPEC capability. The COTS Rugged Systems will be deployed as part of the US Army’s CETU which sees in-vehicle training and simulation incorporated into the Bradley Fighting Vehicle.
09:01 EDTGEGE Capital Aviation to acquire Milestone Aviation for $1.775B
GE Capital Aviation Services, the aircraft leasing unit of GE, announced the signing of an agreement to acquire Milestone Aviation Group, the Dublin-based helicopter lessor, for $1.775B. The acquisition is in line with GE Capital’s strategic plan of growing and enhancing value in core areas aligned with GE’s industrial domains including energy, aviation, oil & gas and healthcare, while reducing the overall size of GE Capital through the disposition of non-strategic assets such as the recently executed IPO and planned split-off of our North American Retail Finance business and the sale of our consumer banks in the Nordics. The transaction remains subject to customary closing conditions, including regulatory approvals, and is targeted to close in 2015. Richard T. Santulli, chairman and CEO, Milestone Aviation Group, will serve as chairman of the helicopter leasing business and will become an officer of GE.
07:30 EDTRATEBankrate downgraded to Equal Weight from Overweight at Stephens
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06:49 EDTCLFCliffs Natural downgraded to Neutral from Overweight at JPMorgan
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06:32 EDTCMCSAUniversal receives approval to open $3.27B theme park in Beijing, WSJ reports
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October 12, 2014
17:41 EDTGEGeneral Electric could return 25%, Barron's says
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17:20 EDTGEGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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15:54 EDTCMCSA21st Century Fox's 'Gone Girl' wins at box office with $26.8M, Bloomberg says
21st Century Fox's (FOX, FOXA) “Gone Girl” took first place at the box office this weekend taking in $26.8M, says Bloomberg. "Dracula Untold,” from Comcast's (CMCSA) Universal Pictures came in second this weekend taking in $23.5M, added Bloomberg. Reference Link
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