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Stock Market & Financial Investment News

News Breaks
June 20, 2014
10:08 EDTNGLS, SM, PSB, ITC, XONE, CNL, TIBX, PIR, ORCL, HERO, COCO, SAH, PETM, IDIX, FXCM, COHOn 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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July 22, 2015
07:25 EDTCOHCoach price target lowered to $40 from $47 at Stifel
Stifel cut its price target on Coach as the firm believes that competition in the accessories category is increasing, causing a deceleration in the segment. However, the firm keeps a Buy rating on the stock.
06:39 EDTSAHSonic Automotive upgraded to Buy from Neutral at BofA/Merrill
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July 21, 2015
17:17 EDTNGLSTarga Resources Partners increases dividend 1% to 82.50c
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16:19 EDTFXCMFXCM announces 1-for-10 reverse stock split
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14:24 EDTORCLEarnings Watch: EMC reports amid M&A speculation in sector
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07:15 EDTORCLOracle management to meet with Deutsche Bank
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July 20, 2015
15:14 EDTCNLCleco gets FERC approval for transaction with investor group
Cleco Corporation announced that the Federal Energy Regulatory Commission, FERC, approved the proposed acquisition of Cleco Corporation by a North American Investor Group led by Macquarie Infrastructure and Real Assets and British Columbia Investment Management Corporation together with John Hancock Financial and other infrastructure investors. The companies announced their proposed transaction on Oct. 20, 2014. "We are pleased to receive the necessary approvals from the Federal Energy Regulatory Commission, which moves us one step closer to completing this strategic transaction for the benefit of all our stakeholders," said Bruce Williamson, chairman, president and CEO of Cleco Corporation. "We remain focused on the task of working through the remaining required approval and expect the transaction to close in the fourth quarter." Cleco has been successful in gaining other approvals prior to receiving FERC consent. Cleco obtained an overwhelming affirmative vote from its shareholders in February on transaction-related proposals, and the transaction has received clearance from the Committee on Foreign Investment in the United States. In addition, the Federal Communication Commission has consented to Cleco's request to transfer certain licenses to Cleco Power. The FCC's consent is expected to become final on July 27. The waiting period under the Hart-Scott-Rodino Antitrust Improvement Act has expired. Cleco continues to work with the Louisiana Public Service Commission regarding its approval of the transaction.
10:13 EDTSAHSonic Automotive reaffirms FY15 adjusted EPS $1.85-$1.95, consensus $1.91
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10:12 EDTSAHSonic Automotive says EchoPark continues to exceed internal budget
10:07 EDTSAHSonic Automotive continues to be 'active' in the acquisition market
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09:39 EDTSAHSonic Automotive sees FY15 CapEx $103.5M
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09:39 EDTSAHSonic Automotive reports Q2 EchoPark EPS (5c), revenue $21M
Expects growth plans in EchoPark to accelerate in latter half of the year. Comments taken from slides for Q2 earnings conference call.
07:35 EDTSAHSonic Automotive reports Q2 total new vehicle revenue $1.30B
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07:32 EDTSAHSonic Automotive reports Q2 total gross profit up 2.5% to $355.6M
07:32 EDTSAHSonic Automotive reports Q2 adjusted EPS 46c, consensus 47c
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07:07 EDTORCLOracle management to meet with Deutsche Bank
Meetings to be held in Montreal/Toronto on July 20 hosted by Deutsche Bank.
July 17, 2015
07:54 EDTCOHCoach near-term risk remains but could create opportunity, says UBS
UBS believes near-term risk remains for Coach but sees underlying trends creating the potential for a buying opportunity. The firm noted its concerns surrounding the company's heavy promotions but sees the brand improving with millennials. UBS reiterated its Neutral rating and lowered its price target to $34 from $40 on Coach shares.
July 16, 2015
18:48 EDTORCLOracle drops largest copyright damages theory against Rimini Street
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11:39 EDTORCLOracle management to meet with Evercore ISI
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06:25 EDTORCLOracle announces 'disciplined reduction' in overall compensatoin
Oracle announced bonuses to Ellison, Catz and Hurd will be paid out at $0 in FY15, compared to 16% targe tin FY14. Oracle said that no performance-based cash bonuses will be awarded in years where no growth in non-GAAP pre-tax profits is achieved. PSU payouts are based on Oracle revenue growth and operating cash flow growth relative to select peer company performances. In connection with the management transition in 2015, the compensation committee canceled 1.5M equity equivalent shares of Ellison's FY15 equity award. The company announced option awards will be reduced to 5 year terms from 10 year terms in 2016, significantly reducing its value and maintaining long-term vest. Comments taken from slides for July Investor Presentation.
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