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January 25, 2013
10:07 EDTUAL, TER, RYN, SNI, JNS, CY, SUSQ, VCBI, NE, GMT, MTG, SKUL, MDT, F, CYN, IAG, FLS, CP, GS, FLEXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Canadian Pacific (CP) downgraded to Sell from Hold at Canaccord... City National (CYN) downgraded to Neutral from Buy at SunTrust... Flextronics (FLEX) downgraded to Neutral from Buy at UBS... Flowserve (FLS) downgraded to Buy from Strong Buy at CL King... Ford (F) downgraded to Equal Weight from Overweight at Barclays... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IAMGOLD (IAG) downgraded to Neutral from Buy at BofA/Merrill... Janus Capital (JNS) downgraded to Sell from Neutral at Citigroup... Medtronic (MDT) downgraded to Hold from Buy at Wunderlich... Noble Corp. (NE) downgraded to Hold from Buy at Jefferies... Scripps Networks (SNI) downgraded to Underweight from Equal Weight at Morgan Stanley... Skullcandy (SKUL) downgraded to Neutral from Overweight at Piper Jaffray... United Continental (UAL) downgraded to Underperform from Neutral at BofA/Merrill... Virginia Commerce (VCBI) downgraded to Market Perform from Outperform at FBR Capital... Rayonier (RYN) downgraded to Sector Perform from Outperform at RBC Capital... MGIC Investment (MTG) downgraded to Underperform from Neutral at Macquarie... Susquehanna (SUSQ) downgraded to Hold from Buy at BB&T... Teradyne (TER)downgraded to Hold from Buy at Craig-Hallum... United Continental (UAL) downgraded to Neutral from Buy at Buckingham... GATX Corp. (GMT) downgraded to Outperform from Strong Buy at Raymond James... Cypress Semiconductor (CY) downgraded to Hold from Buy at Wunderlich.
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November 11, 2014
07:06 EDTGSMarkit Genpact KYC Services registers 600+ firms, appoints CEO
Markit Genpact KYC Services, the joint venture from Markit Ltd. (MRKT) and Genpact Ltd. (G) announced that more than 600 buyside firms and corporations are registered for its centralized service to streamline the management of know your customer information required by banks. Markit Genpact KYC Services also announced the appointment of Jon May as CEO. He joins Markit Genpact KYC Services from Goldman Sachs (GS) where he was a managing director and global head of client onboarding as well as head of Securities Operations and Operations Data Quality Management in India. Jon May will join Markit Genpact KYC Services in January 2015, based in London.
07:02 EDTJNSJanus Capital fund flows tracking well below consensus, says Citigroup
After Bloomberg reported that Janus saw $1.2B in October bond fund inflows, Citigroup says the company's new business trends are tracking "sharply below those implied in the stock price." Citi believes Janus' flow trends are tracking in-line with its "well below" consensus 2015-16 earnings estimates. It keeps a Sell rating on Janus with a $12.50 price target.
06:33 EDTRYNRayonier downgraded to Sector Perform from Outperform at RBC Capital
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06:05 EDTRYNRayonier downgraded to Sector Perform from Outperform at RBC Capital
November 10, 2014
17:34 EDTUALUnited Continental October consolidated traffic up 0.4%
UAL's October 2014 consolidated traffic increased 0.4% and consolidated capacity increased 0.7% versus October 2013. UAL's October 2014 consolidated load factor decreased 0.2 points compared to October 2013.
17:08 EDTIAGIAMGOLD reduces executive team by 40%, takes further cost cutting measures
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16:44 EDTRYNOn The Fly: Closing Wrap
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16:28 EDTSNISoutheastern Asset Management reports 11.7% passive stake in Scripps Networks
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12:36 EDTRYNRayonier falls after restating Q1 and Q2 results, cutting dividend
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09:10 EDTMDTMedtronic announces Japanese approval, launch of Evera MRI SureScan ICD
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08:30 EDTJNSJanus funds saw over $1B in inflows after Gross hiring, Bloomberg says
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08:04 EDTFFord announces partnership with Wind Energy Corporation
Ford Motor Company is collaborating with Wind Energy Corporation to bring a new and innovative source of clean energy to its dealers. Under a pilot program exclusive to Ford, Wind Energy will install wind sail and solar panel systems at four Ford dealerships, a nearly $750,000 investment, to help power dealer facilities. A Windy System is expected to deliver 20,000 kilowatts of electricity annually. That is enough energy to power two average-sized homes for a year or charge a Ford Focus Electric 870 times, Fusion Energi 2,600 times and C-MAX Energi 2,600 times. Using one Windy System will offset nearly 14 tons of greenhouse gases per year.
07:23 EDTCYRBC Capital to hold a conference
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07:20 EDTFLSRW Baird to hold a conference
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07:10 EDTRYNRayonier lowers future expected harvest volumes, cuts 2014 guidance
As a result of its internal review, the company is realigning its strategy to sustainably manage its timberland resources, support long-term sustainable cash flow generation, effectively allocate capital and drive long-term shareholder value. The company intends to actively manage its timberlands to maximize net present value over the long term by achieving an optimal balance among biological timber growth, generation of cash flow from harvesting activities, and responsible environmental stewardship. Going forward, Rayonier’s harvesting strategy is designed to produce a long-term, sustainable yield, although it may adjust harvest levels periodically to capitalize on then-current economic conditions in its markets. Rayonier intends to selectively pursue timberland acquisition opportunities that improve the average productivity of its timberland holdings and support cash flow generation from harvesting activities. In Forest Resources, Rayonier anticipates full-year results to be comparable to 2013, with stronger prices in the U.S. South offset by lower prices in the U.S. Pacific Northwest and New Zealand largely due to lower export demand in the second half of the year, and by a reduction in fourth quarter Northwest harvest volumes as Rayonier implements its new strategy for achieving long-term sustainable yield. In Real Estate, Rayonier now expects full-year results to be approximately 15% below 2013, based on the anticipated timing of land sale closings originally forecasted for late 2014. Beyond 2014, Rayonier anticipates that U.S. housing will continue its gradual recovery, sawlog prices will continue to strengthen, and demand for logs in Asia will be strong over the long-term, benefiting its U.S. Pacific Northwest and New Zealand operations. While Rayonier expects these trends to result in stronger product prices over time, Rayonier’s results will be impacted by significantly lower harvest volume in the Northwest and by a planned reduction in sales of non-strategic timberland, consistent with its new strategy.
07:07 EDTRYNRayonier reduces regular quarterly dividend to 25c from 30c
Rayonier’s board of directors declared a fourth quarter cash dividend of 25c per common share, payable on December 31, to shareholders of record on December 17. This represents a 17% reduction from the third quarter dividend of 30c per common share, reflecting Rayonier’s expectation of reduced cash available for distribution due to lower expected annual harvest levels, as well as reduced reliance on sales of non-strategic timberlands to augment cash flow generation.
07:06 EDTRYNRayonier restates financial results Q1, Q2
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07:04 EDTRYNRayonier reports Q3 EPS 27c, consensus 19c
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07:02 EDTMTGMGIC Investment reports October primary new insurance written $3.3B
Reports beginning primary delinquent inventory of 83,154 loans and ending primary delinquent inventory of 82.,369 loans.
06:46 EDTGSRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
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