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August 20, 2014
10:04 EDTSKUL, JBLU, EONGY, CNP, UCBI, SIEGY, ILMN, DNKN, TNP, PNRA, FFIV, DKLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CenterPoint Energy (CNP) upgraded to Buy from Hold at Argus... Delek Logistics (DKL) upgraded to Outperform from Market Perform at Wells Fargo... Dunkin' Brands (DNKN) upgraded to Overweight from Equal Weight at Barclays... E.ON AG (EONGY) upgraded to Hold from Sell at Societe Generale... F5 Networks (FFIV) upgraded at ISI Group... Illumina (ILMN) upgraded to Outperform from Neutral at Wedbush... JetBlue (JBLU) upgraded to Outperform from Market Perform at Cowen... Panera Bread (PNRA) upgraded to Overweight from Equal Weight at Barclays... Siemens (SIEGY) upgraded to Buy from Neutral at Goldman... Skullcandy (SKUL) upgraded to Buy from Neutral at DA Davidson... Tsakos Energy (TNP) upgraded at Morgan Stanley... United Community Banks (UCBI) upgraded to Buy from Neutral at SunTrust.
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November 23, 2015
08:08 EDTPNRAMaxim sees Panera benefiting from Chipotle woes, upgrades to Buy
As reported previously, Maxim analyst Stephen Anderson upgraded Panera Bread (PNRA) to Buy from Hold, contending that the fast casual chain will be a beneficiary of market share gains at the expense of Chipotle (CMG) as the Mexican restaurant chain experiences extended sales pressure due to the recent E. coli outbreak linked to its locations. Anderson, who also expects rising same-restaurant sales, easier labor comparisons and lower commodity costs to see Panera's margin expansion to return by end 2016, raised his price target on the stock to $210 from $208.
07:28 EDTPNRAPanera Bread upgraded to Buy from Hold at Maxim
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06:39 EDTSIEGYSiemens CEO: Political risk in Europe may harm investment plans, FT says
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November 20, 2015
08:54 EDTUCBIUnited Community Banks 3M share Secondary priced at $20.35
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07:56 EDTILMNIllumina has a path back to $200 per share, says Cowen
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November 19, 2015
16:42 EDTUCBIUnited Community Banks files to sell 3M voting shares of common for holders
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November 18, 2015
10:01 EDTDNKNDunkin' Brands testing on-the-go ordering, delivery service in select markets
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08:01 EDTSKULFurey Research Partners to hold a conference
Hidden Gems Conference is being held in New York on November 18.
07:19 EDTDNKNDunkin' Donuts tests mobile ordering app, Bloomberg reports
Dunkin' Donuts, owned by Dunkin' Brands (DNKN), is aiming to play catch up to Starbucks (SBUX) by testing a mobile ordering and delivery service in certain U.S. markets, Bloomberg reports. Starting Wednesday, 124 Dunkin' locations in Portland, Maine, will let customers order ahead of time through an app, the report says. Roughly 19 cafes in Dallas are also testing the delivery, with additional locations in Atlanta, Chicago, L.A., and Washington coming soon, the report says. Reference Link
November 13, 2015
16:24 EDTILMNOn The Fly: Top stock stories for Friday
Stocks on Wall Street ended a tough week on a down note, falling after the Commerce Department reported that retail sales grew by an anemic 0.1% last month. This data comes on the heels of this week's downbeat quarterly report from Macy's (M) and a similarly disappointing report last night from peer Nordstrom (JWN). ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in the month of October, versus expectations for an increase of 0.3%. When autos and gas are removed, the core reading was up 0.3%, versus expectations for a rise of 0.4%. Producer prices fell 0.4%, versus expectations for them to be up 0.2%. When food and energy are removed, the core reading was down 0.3%, versus expectations for it to be up 0.1%. Business inventories grew 0.3% in September while sales were flat compared to August. Consumer sentiment, as measured by the preliminary print from the University of Michigan survey, improved 3.1 points to 93.1 in November, which was better than the 91.5 reading that was expected. In Europe, data showed that eurozone's economy grew by just 0.3% in the third quarter, which was a slowdown from the 0.4% GDP growth recorded three months earlier and weaker than the 0.4% consensus growth forecast. COMPANY NEWS: Shares of retailers broadly declined following the weaker than expected retail sales data reported by the government as well as third quarter earnings reports from Nordstrom and J.C. Penney (JCP), which fell 15% and 15.5% respectively. Virtually every mass-market, brick-and-mortar retailer was down today, from giants like Wal-Mart (WMT) and Costco (COST), to smaller retailers like Ross Stores (ROST) and Urban Outfitters (URBN)... Shares of Mylan (MYL) jumped 12.9% to $48.78 after the company's offer to acquire Perrigo (PRGO) failed, ending a seven-month fight between the two drug makers. Perrigo Chief Executive Officer Joseph Papa said he was "delighted" that his company's shareholders rejected the offer and the company added that it will immediately commence its previously announced $2B share buyback program, but its shares slid 6.16% to $146.90 in the wake of the shareholder vote... Cisco (CSCO) fell 5.8% after its first quarter earnings and revenue beat expectations but its guidance for the new quarter disappointed. A number of analysts that had been bullish on the name trimmed their price targets in response but also recommended the post-earnings weakness as a buying opportunity. MAJOR MOVERS: Among the notable gainers was Springleaf Holdings (LEAF), which surged $5.07, or 11.5%, to $49.27 after reaching a settlement with the U.S. Department of Justice that will allow the company to proceed with closing its previously announced acquisition of OneMain Financial from Citi (C). On the closing of the acquisition, the company will be renamed OneMain Holdings and has applied to the New York Stock Exchange to change its ticker symbol to "OMF," Springleaf noted. Also higher was Illumina (ILMN), which gained $10.26, or 6.6%, to $165.65 after being selected to replace Sigma-Aldrich (SIAL) in the S&P 500. Among the noteworthy losers was Fossil (FOSL), which plunged $18.62, or 36.5%, to $32.39 after the watchmaker gave lower than expected profit guidance for the upcoming quarter and said it continues to expect this fiscal year's results to be "significantly" negatively impacted by foreign currency changes. Also lower were shares of Vipshop (VIPS), which fell $5.03, or 27%, to $13.60 after issuing weaker than expected preliminary third quarter revenue guidance, which it said was partially driven by the warmer-than-expected fall weather in China. INDEXES: The Dow dropped 202.83, or 1.16%, to 17,245.24, the Nasdaq lost 77.20, or 1.54%, to 4,927.88, and the S&P 500 declined 22.93, or 1.12%, to 2,023.04.
10:00 EDTFFIVOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Neutral from Buy at Goldman... Advance Auto Parts (AAP) downgraded after Q3 miss at Sterne Agee CRT... CafePress (PRSS) downgraded to Underperform from Market Perform at Raymond James... (CTRP) downgraded to Outperform from Strong Buy at Raymond James... CubeSmart (CUBE) downgraded to Outperform from Strong Buy at Raymond James... Deutsche Bank (DB) downgraded to Neutral from Buy at Citi... Digital Ally (DGLY) downgraded to Neutral from Buy at Roth Capital... El Pollo Loco (LOCO) downgraded to Neutral at Baird... F5 Networks (FFIV) downgraded to Market Perform from Outperform at William Blair... FirstMerit (FMER) downgraded on stock outperformance at Raymond James... Fly Leasing (FLY) downgraded to Underweight from Neutral at JPMorgan... GameStop (GME) downgraded on valuation, digital impact at Pacific Crest... Histogenics (HSGX) downgraded to Neutral from Buy at BTIG... MaxPoint (MXPT) downgraded to Hold from Buy at Needham... Memorial Resource (MRD) downgraded to Outperform at Scotia Howard Weil... Rite Aid (RAD) downgraded to Neutral from Overweight at JPMorgan... Rubicon Minerals (RBY) downgraded to Sell from Hold at Canaccord... SABMiller (SBMRY) downgraded to Hold from Buy at Berenberg... Sensata (ST) downgraded at SunTrust... Stryker (SYK) downgraded to Neutral from Buy at Goldman.
08:10 EDTFFIVF5 Networks downgraded on limited catalysts at JMP Securities
As noted earlier, JMP Securities downgraded F5 Networks to Market Perform from Outperform. Following the company's Analyst Day, the firm thinks the company has "limited catalysts." The firm does not expect investors to be impressed by the company's upcoming new hardware products, and it does not expect them to become a significant catalyst until fiscal 2017. JMP says it's also concerned that the transition to public clouds is hurting F5.
07:25 EDTFFIVCisco selloff an attractive opportunity, says Citi
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06:37 EDTFFIVF5 Networks downgraded to Market Perform from Outperform at JMP Securities
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05:56 EDTFFIVF5 Networks downgraded to Market Perform from Outperform at William Blair
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November 12, 2015
18:48 EDTPNRAMcDonald's CEO: Pace of change had slowed within company, NYT reports
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17:20 EDTILMNIllumina to replace Sigma-Aldrich in S&P 500 as of 11/18 close
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17:18 EDTILMNIllumina to replace Sigma-Aldrich in S&P 500
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13:24 EDTFFIVEarnings Watch: Cisco seeks to break out of trading rut with Q1 report
Cisco Systems (CSCO) is scheduled to report results of its fiscal first quarter after the market close on Thursday, November 12 with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $12.65B, according to First Call. The consensus range for EPS is 55c-59c on revenue of $12.55B-$12.81B. Along with its quarterly report, Cisco guided to Q1 EPS of 55c-57c and said it expects its revenue to increase 2%-4% year over year. LAST QUARTER: On August 12, Cisco reported fourth quarter EPS of 59c on revenue of $12.8B, beating consensus estimates of 56c and $12.65B for EPS and revenue, respectively. NEWS: On its Q4 earnings conference call, Cisco said that it was looking at acquisitions at the right price, particularly in areas like software and security. On August 31, Apple (AAPL) and Cisco announced a partnership to build a "fast lane" for iOS business users by optimizing Cisco networks for iOS devices and apps, integrating iPhone with Cisco enterprise environments and providing unique collaboration on iPhone and iPad. The next day, Cisco was among multiple other companies, including Amazon (AMZN), Google (GOOG), Intel (INTC), Microsoft (MSFT), Mozilla, and Netflix (NFLX), announcing the formation of the Alliance for Open Media to build next-generation media formats, codecs, and technologies in the public interest. On September 3, Business Insider reported that people at Cisco still though that chairman John Chambers was running the show as chief executive officer after appointing Chuck Robbins to that role last May. On September 15, Mandiant, a FireEye (FEYE) subsidiary, said in a blog post that researchers discovered previously unknown attacks on certain routers and that such attacks replace the operating system used in Cisco equipment. About a week later, the Wall Street Journal reported that Cisco was aiming to strengthen its business in China by joining forces with Inspur group, a move which was confirmed on September 24. On October 29, Cisco announced its intention to acquire 1 Mainstream. CNBC later reported that the company paid $100M-$150M to acquire 1 Mainstream. On November 9, Ericsson (ERIC) and Cisco announced a global business and technology partnership to "create the networks of the future." The companies said that the strategic partnership will be a key driver of growth and value for the next decade, with each company benefiting from incremental revenue in calendar year 2016 and expected to ramp to $1B or more for each by 2018. STREET RESEARCH: On August 17, Morgan Stanley downgraded Cisco to Equal Weight from Overweight and maintained a $30 price target on the stock, saying it did not believe improved growth is "secular" and anticipates growth will revert to GDP like levels as the upgrade cycle concludes. Wells Fargo said on August 28 that a 10% selloff in communication tech stocks, including Cisco, had created an attractive buying opportunity. Bernstein said a week later that Cisco, Juniper (JNPR), and F5 Networks (FFIV) should be bought on wider macro economic weakness. On October 6, Citi initiated coverage of Cisco with a Buy rating and $30 price target. A week later, Barclays initiated coverage of Cisco with an Overweight rating and a $32 price target. On November 9, RBC Capital maintained an Outperform rating and $33 price target on Cisco, saying it expects the company to report slightly better than expected results. The next day, SunTrust maintained a Buy rating on Cisco, saying its partnership with Ericsson was a positive and should strengthen Cisco's service provider business. PRICE ACTION: In afternoon trading ahead of tonight's report, Cisco shares were up 0.5% to $27.97. In the last three months, Cisco shares are fractionally higher and virtually unchanged when discounting this afternoon's slight rise.
November 11, 2015
16:06 EDTJBLUJetBlue reports October traffic up 11.8%
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