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Stock Market & Financial Investment News

News Breaks
April 5, 2013
10:00 EDTVTNC, NAUH, RIGL, BT, WMC, TEX, MAT, MFA, KMB, JNPR, FFIV, EVR, COROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: CoreSite Realty (COR) downgraded to Sell from Hold at Cantor... Evercore Partners (EVR) downgraded to Market Perform from Outperform at Keefe Bruyette... F5 Networks (FFIV) downgraded to Neutral from Buy at Citigroup... F5 Networks (FFIV) downgraded to Neutral from Overweight at Piper Jaffray... Juniper (JNPR) downgraded to Equal Weight from Overweight at Barclays... Kimberly Clark (KMB) downgraded to Underperform from Market Perform at BMO Capital... MFA Financial (MFA) downgraded to Hold from Buy at Jefferies... Mattel (MAT) downgraded to Hold from Buy at KeyBanc... Terex (TEX) downgraded to Market Perform from Outperform at Wells Fargo... Vitran (VTNC) downgraded to Hold from Buy at Cowen... Western Asset Mortgage (WMC) downgraded to Hold from Buy at Jefferies... BT Group (BT) downgraded to Equal Weight from Overweight at Morgan Stanley... F5 Networks (FFIV) downgraded to Hold from Buy at Topeka... National American University (NAUH) downgraded to Market Perform at Wells Fargo... Rigel Pharmaceuticals (RIGL) downgraded to Market Perform from Outperform at BMO Capital.
News For COR;EVR;FFIV;JNPR;KMB;MFA;MAT;TEX;WMC;BT;RIGL;NAUH;VTNC From The Last 14 Days
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September 16, 2014
09:59 EDTTEXOn The Fly: Analyst Upgrade Summary
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08:37 EDTKMBKimberly Clark subsidiary begins raising external financing
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08:07 EDTBTBT Group extends partnership with Glencore
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07:03 EDTTEXTerex upgraded at Stifel
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06:18 EDTTEXTerex upgraded to Buy from Hold at Stifel
September 15, 2014
12:31 EDTTEXTerex hits 52-week low after cutting fiscal 2014 profit outlook
Shares of Terex (TEX), a diversified global equipment manufacturer of machinery products, are falling after the company cut its fiscal year 2014 earnings per share outlook. The company's third quarter EPS view of 55c-65c also came in far below analysts' consensus estimates of 79c. WHAT'S NEW: This morning, Terex lowered its FY14 EPS view to $2.35-$2.50 from $2.50-$2.80, below analysts' consensus of $2.56. The company said the primary driver of the lowered guidance is weakness in the Cranes segment. Despite a positive trend in book-to-bill ratios over the first half of 2014, the Cranes order rate dropped significantly in July and August. Additionally, Cranes customers in developing markets are struggling to secure financing for orders scheduled for delivery in the second half of 2014. Ron DeFeo, Terex Chairman and CEO said, “We do not take lightly the need to adjust market expectations. Admittedly, the global Cranes marketplace has been challenging to forecast. During 2014, we have certainly seen more muted end markets in Cranes than we originally contemplated back in February. While we do see positive trends in certain aspects of our other segments, this has been more than offset by the recent weakness in Cranes end markets. The balance of our guidance remains intact, including our guidance for Free Cash Flow of between $200M-$250M in 2014. We also remain positive on the longer term prospects for EPS growth in our business, driven in no small part by the internal improvement initiatives underway throughout our company." ANALYST REACTION: This morning, UBS placed a Neutral rating and 12-month price target of $41 on shares of Terex. UBS believes that Terex could be gearing up to announce order cancellations. UBS said the deterioration in the Cranes segment, in addition to new questions over first half 2014 bookings, will be disappointing to investors. Despite that, UBS expects progression of projects in the Gulf Coast to drive a delayed Crane cycle, one that will result in improved order patterns in 2015 and 2016. UBS expects Terex' guidance to weigh on Manitowoc Company (MTW) and H&E Equipment Services (HEES), both of which are exposes to Crane markets. PRICE ACTION: In early afternoon trading, Terex fell $2.32, or about 6.7%, to $32.38 on more than twice its average daily trading volume. Earlier in the session, the stock hit a 52-week low of $32.00. OTHERS TO WATCH: Terex' peers also fell, with Manitowoc Company (MTW) down over 3.3%, and H&E Equipment Services (HEES) down about 1.2%.
09:16 EDTTEXOn The Fly: Pre-market Movers
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08:50 EDTTEXManitowoc down 3% after peer Terex cuts FY14 earnings guidance
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08:28 EDTFFIVF5 Networks price target raised to $151 from $135 at Pacific Crest
Pacific Crest increased its price target on F5 Networks as the firm says its checks with resellers suggest that F5 is benefiting from a seasonally strong federal and enterprise rebound and an expanding partner ecosystem. The firm is more confident in the company's earnings and multiple expansion outlook ,and it recommends buying the shares.
08:14 EDTTEXTerex volatility expected to move on lower guidance
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08:07 EDTTEXTerex sees Q3 EPS 55c-65c, consensus 79c
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08:06 EDTTEXTerex cuts FY14 adjusted EPS view to $2.35-$2.50 from $2.50-$2.80
Consensus is $2.56. The primary driver of the guidance change is weakness in the Cranes segment. Despite a positive trend in book-to-bill ratios over the first half of 2014, the Cranes order rate has dropped significantly in July and August. Additionally, Cranes customers in developing markets are struggling to secure financing for orders scheduled for delivery in the second half of 2014. “We do not take lightly the need to adjust market expectations. Admittedly, the global Cranes marketplace has been challenging to forecast. During 2014, we have certainly seen more muted end markets in Cranes than we originally contemplated back in February. While we do see positive trends in certain aspects of our other segments, this has been more than offset by the recent weakness in Cranes end markets,” commented Ron DeFeo, Terex Chairman and CEO. “The balance of our guidance remains intact, including our guidance for Free Cash Flow of between $200M-$250M in 2014. We also remain positive on the longer term prospects for EPS growth in our business, driven in no small part by the internal improvement initiatives underway throughout our company.”
07:24 EDTBTCredit Suisse to hold a conference
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September 11, 2014
10:00 EDTMFAOn The Fly: Analyst Downgrade Summary
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09:24 EDTMFAMFA Financial downgraded to Neutral from Buy at Compass Point
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06:35 EDTFFIVF5 Networks price target raised to $150 from $135 at Deutsche Bank
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September 10, 2014
07:53 EDTJNPRDeutsche Bank to hold a conference
Technology Conference to be held in Las Vegas on September 9-11 with webcasted company presentations to begin on September 10 at 10:30; not all company presentations may be webcasted. Webcast Link
07:49 EDTTEXLongbow to hold a conference
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September 9, 2014
19:34 EDTCORCoreSite Realty resumed with a Hold at Stifel
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