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Stock Market & Financial Investment News

News Breaks
March 10, 2014
10:01 EDTHAR, LINTA, TLMR, LH, HSNI, EGRX, FLXN, DGX, IBP, CNCEOn The Fly: Analyst Initiation Summary
Concert Pharmaceuticals (CNCE) initiated with a Buy at UBS and an Outperform at JMP Securities... Eagle Pharmaceuticals (EGRX) initiated with a Buy at Cantor and an Overweight at Piper Jaffray... Talmer Bancorp (TLMR) initiated with an Outperform at Keefe Bruyette, an Overweight at JPMorgan, a Strong Buy at Raymond James and an Outperform at RBC Capital... HSN, Inc. (HSNI) initiated with a Buy at UBS... Installed Building Products (IBP) initiated with a Buy at Deutsche Bank and a Neutral at SunTrust... Liberty Interactive (LINTA) initiated with a Buy at UBS and Craig-Hallum... Flexion (FLXN) initiated with a Buy at Needham... LabCorp (LH) assumed with a Neutral at Piper Jaffray... Quest Diagnostics (DGX) assumed with a Neutral at Piper Jaffray... Harman (HAR) initiated with an Outperform at Raymond James.
News For CNCE;EGRX;TLMR;IBP;HSNI;LINTA;DGX;LH;HAR;FLXN From The Last 14 Days
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January 28, 2016
08:04 EDTHARHarman CEO: On track to deliver full year plan
"I am pleased to announce our 11th consecutive quarter of top and bottom line growth. Our strong first half results were in-line with our expectations. While we are closely monitoring macroeconomic developments, at this time, we are on track to deliver on our full year plan," said Dinesh C. Paliwal, Harman (HAR) Chairman, President and CEO. "HARMAN continues to innovate and bring industry-first solutions to market. We are also partnering with key technology leaders such as Google (GOOG), Microsoft (MSFT) and Under Armour (UA) to capitalize on the opportunities presented by IoT for automotive, enterprise and consumer electronics. In addition, our acquisition of TowerSec will strengthen our cybersecurity leadership position for automotive."
08:03 EDTHARHarman reports Q2 EPS $1.84, consensus $1.72
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06:49 EDTDGXQuest Diagnostics raises quarterly dividend to 40c per share from 38c per share
Quest Diagnostics' board authorized a 5% increase in its quarterly dividend from 38c to 40c per share, or $1.60 per share annually, payable on April 20, to shareholders of record of Quest Diagnostics common stock on April 6.
06:48 EDTDGXQuest Diagnostics sees FY16 adjusted EPS $5.02-$5.17, consensus $5.09
Sees FY16 revenue $7.52B-$7.59B, consensus $7.58B.
06:47 EDTDGXQuest Diagnostics reports Q4 adjusted EPS $1.19, consensus $1.19
Reports Q4 revenue $1.85B, consensus $1.85B.
January 27, 2016
10:00 EDTTLMROn 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.
10:00 EDTTLMROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Airlines (AAL) upgraded to Buy from Neutral at UBS... Armstrong World (AWI) upgraded on valuation at BB&T... Autoliv (ALV) upgraded to Outperform from Neutral at Baird... BHP Billiton (BHP) upgraded to Overweight from Equal Weight at Morgan Stanley... BorgWarner (BWA) upgraded to Outperform from Neutral at Baird... Boyd Gaming (BYD) upgraded on valuation at Sterne Agee CRT... CF Industries (CF) upgraded to Outperform from Underperform at CLSA... Deutsche Boerse (DBOEY) upgraded to Neutral from Underperform at Credit Suisse... Diamond Offshore (DO) upgraded to Neutral from Sell at Clarksons Platou... Exelon (EXC) upgraded to Neutral from Sell at Citi... FCB Financial (FCB) upgraded to Buy from Neutral at Guggenheim... Flushing Financial (FFIC) upgraded to Buy from Hold at Sandler O'Neill... Hawaiian Holdings (HA) upgraded to Buy from Hold at Deutsche Bank... Huntington Bancshares (HBAN) upgraded to Neutral from Underperform at Macquarie... Imperva (IMPV) upgraded to Outperform from Market Perform at JMP Securities... Lockheed Martin (LMT) upgraded to Outperform from Peer Perform at Wolfe Research... McDonald's (MCD) upgraded to Buy from Hold at Argus... Munich Re (MURGY) upgraded to Overweight from Equal Weight at Morgan Stanley... NextEra Energy (NEE) upgraded to Conviction Buy from Buy at Goldman... PG&E (PCG) upgraded to Buy from Neutral at Goldman... Panera Bread (PNRA) upgraded to Buy from Neutral at BTIG... Raptor Pharmaceuticals (RPTP) upgraded to Buy from Neutral at Citi... Siemens (SIEGY) upgraded to Equal Weight from Underweight at Barclays... Sprint (S) upgraded to Perform from Underperform at Oppenheimer... Stryker (SYK) upgraded to Buy from Hold at Brean Capital... Super Micro Computer (SMCI) upgraded to Positive from Neutral at Susquehanna... Talmer Bancorp (TLMR)upgraded to Outperform from Market Perform at Keefe Bruyette... Terex (TEX) upgraded to Neutral from Underweight at JPMorgan... Transocean (RIG) upgraded to Neutral from Sell at Clarksons Platou... Washington Trust (WASH) upgraded to Buy from Neutral at Compass Point... Yara (YARIY) upgraded to Buy from Hold at Berenberg.
07:24 EDTTLMRTalmer Bancorp downgraded to Sector Perform from Outperform at RBC Capital
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06:31 EDTIBPInstalled Building downgraded to Sector Weight from Overweight at KeyBanc
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06:29 EDTTLMRTalmer Bancorp downgraded to Sector Perform from Outperform at RBC Capital
06:09 EDTTLMRTalmer Bancorp upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Christopher McGratty upgraded Talmer Bancorp (TLMR) to Outperform citing the merger with Chemical Financial (CHFC). The analyst has an Outperform rating on Chemical and raised his price target for Talmer shares to $20 from $19.50.
January 26, 2016
08:50 EDTHARHarman risk/reward favorable after pullback, says Pacific Crest
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08:16 EDTTLMRTalmer Bancorp and Chemical Financial to hold a joint conference call
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07:55 EDTTLMRChemical Financial to merge with Talmer Bancorp in deal valued at $1.1B
The boards of Chemical Financial Corporation (CHFC), the holding company for Chemical Bank, and Talmer Bancorp (TLMR), the holding company for Talmer Bank and Trust, announced the execution of a definitive agreement for Chemical Financial to partner with Talmer Bancorp, in a cash and common stock merger transaction valued at approximately $1.1B. The merger will result in the creation of one of the largest community banks in the Midwest. Based on the companies balance sheets as of December 31, 2015, following completion of the transaction, the combined organization will have approximately $16B in assets, $12B in loans and $13B in deposits with 266 locations primarily in Michigan and northeast Ohio. The transaction will also allow the combined company to more effectively and efficiently navigate the challenges and costs associated with becoming a larger banking institution. Upon consummation of the merger, David Ramaker will continue to serve as CEO and president of Chemical Financial and Chairman, CEO and president of Chemical Bank. David Provost, Talmer's president and CEO and chairman of Talmer Bank, will join the Chemical board. Gary Torgow, Talmer's chairman, will serve as chairman of the board of the combined entity. Under the terms of the definitive agreement, Chemical will acquire all of the outstanding shares of Talmer common stock for common stock and cash in a transaction currently valued at approximately $1.1B, or $15.64 per share, based on the closing price of Chemical of $29.70 per share as of January 25. Talmer shareholders will receive 0.4725 shares of Chemical common stock and $1.61 per share in cash. Subject to receipt of regulatory approvals and satisfaction of other customary closing conditions, including approval of both Chemical and Talmer shareholders, the transaction is anticipated to close in the second half of 2016. Chemical anticipates the transaction, with cost savings fully phased in, to be accretive to its earnings per share by approximately 8 percent in the first full year. Chemical expects net cost savings to reach an annual run rate of approximately $52M. Pre-tax acquisition-related and integration costs associated with the transaction are expected to total approximately $62M. Chemical estimates the tangible book value earn-back period to be approximately 3.25 years.
07:53 EDTTLMRChemical Financial to merge with Talmer Bancorp in deal valued at $1.1B
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07:46 EDTTLMRTalmer Bancorp increases quarterly dividend to 5c from 1c
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07:45 EDTTLMRTalmer Bancorp reports Q4 EPS 19c, consensus 23c
Net loans increased during the fourth quarter of 2015 by $107.0 million, driven by strong growth in commercial and industrial lending, partially offset by acquired loan run-off. Total deposits declined $110.9 million, to $5.0 billion as of December 31, 2015, compared to September 30, 2015, primarily due to a decline in brokered deposits of $106.6 million. Net interest income increased to $58.4 million in the fourth quarter of 2015, compared to $55.6 million in the third quarter of 2015. Net interest income growth was primarily due to the benefit provided by a $4.4 million reduction in negative accretion on the FDIC indemnification asset, partially offset by a $1.7 million decrease in interest on loans due significantly to the run-off of acquired, higher-yielding loans. Our net interest margin increased 13 basis points to 3.89% in the fourth quarter of 2015, compared to 3.76% in the third quarter of 2015, due in large part to the removal of the negative yield on the FDIC indemnification asset.
January 25, 2016
08:13 EDTDGXQuest Diagnostics expands Dako's PD-L1 IHC complementary test
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07:51 EDTIBPHousing repair and remodel stocks should be bought, says RBC Capital
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07:43 EDTIBPInstalled Building Products acquires Key Green Builder Services
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