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Stock Market & Financial Investment News

News Breaks
June 20, 2014
10:08 EDTSM, PSB, ITC, XONE, CNL, TIBX, PIR, ORCL, HERO, COCO, SAH, PETM, IDIX, FXCM, COH, NGLSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Cleco (CNL) downgraded to Hold from Buy at KeyBanc... Coach (COH) downgraded at BMO Capital... Corinthian Colleges (COCO) downgraded to Sell from Hold at Gabelli... ExOne (XONE) downgraded to Hold from Buy at Jefferies... FXCM (FXCM) downgraded to Neutral from Buy at Citigroup... Hercules Offshore (HERO) downgraded to Sector Perform from Outperform at Iberia... ITC Holdings (ITC) downgraded to Underperform from Neutral at Credit Suisse... Idenix (IDIX) downgraded to Neutral from Buy at UBS... Oracle (ORCL) downgraded to Neutral from Buy at Citigroup... PS Business Parks (PSB) downgraded to Neutral at JPMorgan... PetSmart (PETM) downgraded to Neutral from Outperform at Wedbush... Pier 1 Imports (PIR) downgraded to Hold from Buy at Deutsche Bank... SM Energy (SM) downgraded to Overweight from Focus List at Johnson Rice... Sonic Automotive (SAH) downgraded at Goldman... TIBCO (TIBX) downgraded to Neutral from Positive at Susquehanna... Targa Resources Partners (NGLS) downgraded to Hold from Buy at Wunderlich.
News For CNL;COH;COCO;XONE;FXCM;HERO;ITC;IDIX;ORCL;PSB;PETM;PIR;SM;SAH;TIBX;NGLS From The Last 14 Days
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April 27, 2015
11:21 EDTXONEOpco defends 3D Systems, while UBS, Piper Jaffray say sell
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08:08 EDTORCLAccenture, Oracle form new business group
Accenture (ACN) and Oracle (ORCL) have launched a new business group to jointly help customers embrace the cloud to achieve their digital transformation goals. Through the group, Accenture and Oracle will deliver industry-specific solutions built on the Oracle Cloud to help clients realize the benefits of the cloud faster and with reduced risk. The Accenture Oracle Business Group brings together the leading technology, skills and experience from each company to offer businesses the ability to implement cloud solutions quicker and easier than previously possible.
April 26, 2015
15:32 EDTCOCOCorinthian Colleges ceases effectively all operations
Corinthian Colleges announced that the company has ceased substantially all operations and discontinued instruction at its remaining 28 ground campuses. The company is working with other schools to provide continuing educational opportunities for its approximately 16,000 students. Corinthian said those efforts depend to a great degree on cooperation with partnering institutions and regulatory authorities. Campuses closed include the 13 remaining Everest and WyoTech campuses in California, Everest College Phoenix and Everest Online Tempe in Arizona, the Everest Institute in New York, and Heald College -- including its 10 locations in California, one in Hawaii and one in Oregon. Additionally, Zenith Education has recently advised Corinthian that it will not consummate the purchase of Everest College Phoenix, and the closing conditions have not been satisfied for Everest Institute Rochester. Also, the company had been in advanced negotiations with several parties to both sell Heald College and to arrange for teach-out partners to allow its Everest College and WyoTech students in California to continue their education. The company said these efforts were unsuccessful largely as a result of federal and state regulators seeking to impose financial penalties and conditions on buyers and teach-out partners.
April 24, 2015
10:09 EDTXONEStreet Check: Analyst made right call on 3D Systems
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08:11 EDTXONE3D Systems drops after 'abrupt interruption' in demand causes Q1 weakness
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07:49 EDTCOHCoach May weekly volatility elevated into Q3 and outlook
Coach May weekly call option implied volatility is at 68, May is at 40, June is at 30, August is at 29; compared to its 26-week average of 30 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on April 28.
April 23, 2015
10:45 EDTORCLRumor: Salesforce.com active on renewed takeover speculation
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April 22, 2015
13:39 EDTXONEAnalyst warns competition growing in 3D printing space
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April 21, 2015
18:38 EDTNGLSTarga Resources Partners raises quarterly dividend to 82c per share
Targa Resources Partners announced that the board of its general partner has declared a quarterly cash distribution of 82c per common unit, or $3.28 on an annualized basis, for Q1. The approved distribution represents increases of approximately 1.2% over the previous quarter's distribution. This cash distribution will be paid May 15, on all outstanding common units to holders of record as of the close of business on May 4.
18:31 EDTNGLSTarga Resources Partners sees FY15 gross growth CapEx $700M-$900M
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18:29 EDTNGLSTarga Resources expects flat to low single digit volume growth for FY15
Given the commodity price environment and current expectations for producer activity, TRP expects flat to low single digit 2015 average volume growth for our field gathering and processing operations compared to Q4 of FY14 volumes. Additionally, if commodity prices do not improve from current levels over the course of 2015, average 2016 TRP field volumes may be lower than average 2015 volumes. In the Logistics and Marketing division, TRP expects that 2015 operating margin may be modestly lower than 2014 operating margin. We expect 2015 distribution growth for TRP of 4%-7% over 2014 and approximately 1.0 times distribution coverage.
11:36 EDTSAHSonic Automotive says 2015 new car industry volume tracking in 17M unit range
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11:24 EDTSAHSonic Automotive says guidance has not changed
Says committed to returning capital to shareholders via dividend, repurchases. Says continues to be compliant with debt covenants. Says will continue to be aggressive on import pricing. Says guidance has not changed, says tracking directly with forecasts. Comments made on the Q1 earnings conference call. Sonic Automotive is down 0.45% to $24.20 in late morning trading.
10:01 EDTCOHOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Agios Pharmaceuticals (AGIO) initiated with a Perform at Oppenheimer... Bed Bath & Beyond (BBBY) initiated with a Buy at Cantor... BioCryst (BCRX) initiated with an Outperform at FBR... Bovie Medical (BVX) initiated with an Outperform at JMP Securities... Calavo Growers (CVGW) initiated with a Buy at Janney Capital... Clorox (CLX) initiated with a Sector Weight at KeyBanc... Coach (COH) initiated with a Sell, $32 target at Cantor... Compugen (CGEN) initiated with an Outperform at Oppenheimer... Corcept Therapeutics (CORT) initiated with an Outperform at FBR Capital... Criteo (CRTO) initiated with an Outperform at Raymond James... CytRx (CYTR) initiated with an Outperform at FBR Capital... Dollar Tree (DLTR) initiated with a Buy at Cantor... Facebook (FB) initiated with a Buy at Cleveland Research... Gap (GPS) initiated with a Hold at Cantor... Genocea (GNCA) initiated with an Outperform at FBR Capital... Geron (GERN) initiated with an Outperform at Oppenheimer... Home Depot (HD) initiated with a Hold at Cantor... HubSpot (HUBS) initiated with a Buy at Needham... Jernigan Capital (JCAP) initiated with a Buy at Wunderlich... La Jolla (LJPC) initiated with an Outperform, $43 target at Oppenheimer... Lowe's (LOW) initiated with a Hold at Cantor... Lumber Liquidators (LL) initiated with a Buy, $45 target at Cantor... New Residential (NRZ) reinstated with an Outperform at Credit Suisse... Rent-A-Center (RCII) initiated with a Buy at Cantor... Ross Stores (ROST) initiated with a Hold at Cantor... Rubicon Project (RUBI) initiated with an Outperform at Raymond James... SolarCity (SCTY) initiated with an Outperform at Northland... SolarEdge (SEDG) initiated with a Buy at Canaccord... Spectrum Brands (SPB) initiated with an Overweight at KeyBanc... Summit Materials (SUM) initiated with a Buy at BB&T... Synergy Resources (SYRG) initiated with a Buy at KLR Group... Synta Pharmaceuticals (SNTA) initiated with an Outperform at FBR Capital... TJX (TJX) initiated with a Hold at Cantor... Tiffany (TIF) initiated with a Hold at Cantor... TubeMogul (TUBE) initiated with a Market Perform at Raymond James... Urban Outfitters (URBN) initiated with a Buy at Cantor... WhiteWave Foods (WWAV) initiated with a Neutral at Janney Capital... Williams-Sonoma (WSM) initiated with a Hold at Cantor... Zafgen (ZFGN) initiated with an Outperform at FBR Capital.
09:30 EDTSAHSonic Automotive sees continued share repurchases with excess capital
Sees continued share repurchases with excess capital. Expects open points to drive future growth. Says monitoring capital requirements as 2017 lease maturities approach. Expects to open at least one more Neighborhood store in 2015 and another in 2016. Says strategic focus is on growth, EchoPark, acquisitions and open points, owning properties and returning capital to shareholders. Comments from slides that will be presented on the Q1 earnings conference call.
08:51 EDTCOHCoach Q3 North American estimates remain above consensus at ITG Research
ITG Research's analysis indicates Coach's Q3 North American sales are $530M, above consensus of $512M.
08:49 EDTCOHCoach North American sales remain ahead of consensus, says ITG Research
08:40 EDTCOHCoach competition could impact a margin recovery, says Goldman
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07:34 EDTSAHSonic Automotive reports Q1 net retail units up 4.3% to 31,334
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07:33 EDTSAHSonic Automotive reports Q1 adjusted EPS 37c, consensus 38c
Reports Q1 net income from continuing operations $38c. Reports Q1 revenue $2.24B, consensus $2.24B
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