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Stock Market & Financial Investment News

News Breaks
November 29, 2012
10:00 EDTGES, MAA, TASR, DVN, BRE, COL, ARO, CLP, TKR, CREEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Cree (CREE) downgraded to Hold from Buy at Deutsche Bank... Rockwell Collins (COL) downgraded to Perform from Outperform at Oppenheimer... TASER (TASR) downgraded to Neutral from Overweight at JPMorgan... Timken (TKR) downgraded to Hold from Buy at Jefferies... BRE Properties (BRE) downgraded to Underperform from Market Perform at BMO Capital... Mid-America Apartment (MAA) downgraded to Market Perform from Outperform at BMO... Colonial Properties (CLP) downgraded to Underperform from Market Perform at BMO... Devon Energy (DVN) downgraded to Neutral from Add at Capital One... Guess (GES) downgraded to Average from Above Average at Caris... Aeropostale (ARO) downgraded to Above Average from Buy at Caris.
News For CREE;COL;TASR;TKR;BRE;MAA;CLP;DVN;GES;ARO From The Last 14 Days
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July 2, 2015
08:07 EDTAROAeropostale signs new licensing agreements in India and Indonesia
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June 30, 2015
09:26 EDTTASROn The Fly: Pre-market Movers
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07:35 EDTTASRTASER receives order for three hundreds Axon Flex video cameras
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June 26, 2015
09:16 EDTAROStephens encouraged by Aeropostale back-to-school show
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05:51 EDTCREECree to downsize LED capacity due to price competition from China, DigiTimes say
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June 25, 2015
12:51 EDTCREEOn The Fly: Top stock stories at midday
Stocks on Wall Street opened higher but quickly gave up most of their gains as investors awaited news of a deal being reached between Greece and its creditors. The averages bounced back when the Supreme Court issued its ruling upholding ACA subsidies, sending a number of healthcare linked stocks higher. The market remained in positive ground near noon, but well off its best levels. ECONOMIC EVENTS: In the U.S., personal income rose 0.5% in May, matching the consensus expectation, while spending rose 0.9%, topping the expected 0.7% increase. Initial jobless claims were 271,000 in the week ended June 20, versus expectations for 273,000 first-time claims. Markit's services index fell to 54.8 for the flash June reading, versus expectations for a rise to 56.5 from the 56.2 May reading. The Kansas City Fed manufacturing survey for June came in at -9, as expected. COMPANY NEWS: Shares of hospital operators and health insurers rose after the Supreme Court upheld the legality of subsidies provided under the framework of the Affordable Care Act. The 6 to 3 decision in the Burwell versus King case means that the government can continue to offer subsidies to low income people who purchase health insurance plans on the federal exchange. The plaintiffs in the case had asked the court to strike down such subsidies, saying that the ACA had only allowed the government to subsidize insurance bought on exchanges created by states. In the wake of the ruling, which has been eagerly anticipated, Tenet Healthcare (THC) and Community Health (CYH) both rose more than 14%, while HCA Holdings (HCA) advanced nearly 9%. MAJOR MOVERS: Among the notable gainers was IAC/InterActiveCorp (IACI), which advanced 5% after announcing that its board has approved the pursuit of an initial public offering for The Match Group, which includes dating website Match.com and mobile dating app Tinder. IAC expects Match Group to issue less than 20% of its common stock in the IPO, which is seen being completed during the fourth quarter of this year. Also higher was Magnum Hunter (MHR), which gained 5% after disclosing that it has now determined to pursue the sale by the company of 100% of its current equity ownership interest in Eureka Hunter Holdings. Among the noteworthy losers was World Acceptance (WRLD), which dropped 19% after the company entered into an amendment with its lenders on its revolving credit agreement. FBR Capital downgraded the stock to Market Perform and cut its price target for shares to $73 from $98 afterward, saying restrictive covenants in the latest amendment means free cash flow will now be used to pay down debt rather than buy back stock. Also lower were shares of Cree (CREE), which fell about 11% after the company announced last night that it has decided to restructure its LED Products business to reduce excess capacity and overhead following recent market trends that have resulted in higher LED average selling price erosion than previously forecast. Cree also lowered its Q4 revenue view and issued FY16 revenue guidance that was below the consensus expectation. INDEXES: Near midday, the Dow was up 18.88, or 0.11%, to 17,984.95, the Nasdaq was up 5.87, or 0.11%, to 5,128.29, and the S&P 500 was up 2.18, or 0.1%, to 2,110.76.
10:46 EDTCREECree tumbles on LED business restructuring, bearish pattern
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07:24 EDTCREECree price target lowered to $35 from $39 at JPMorgan
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June 24, 2015
19:01 EDTCREEOn The Fly: After Hours Movers
UP AFTER EARNINGS: Herman Miller (MLHR), up 5.1%. ALSO HIGHER: Turtle Beach (HEAR), up 3.6% after partnering with AuDConnex for direct audio hearing solution. DOWN AFTER EARNINGS: Bed Bath & Beyond (BBBY), down 2.6%. ALSO LOWER: Cree (CREE), down 5.1% after lowering fourth quarter revenue outlook... Sabra Health Care (SBRA), down 2.7% after filing to sell 5M shares of common stock at a price range of $25.25-$25.65.
16:55 EDTCREECree down over 5% after lowering Q4 revenue outlook
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16:08 EDTCREECree targets FY16 revenue of $1.8B, consensus $1.89B
Targets FY16 operating margin to increase approximately 8%; FY16 free cash flow of approximately $75M.
16:06 EDTCREECree lowers Q4 revenue view to approximately $375M from $420M-$440M
Q4 consensus $430.82M. Guidance includes $27M revenue reserve. Lighting Products revenue is targeted to increase slightly sequentially, as strong growth in commercial lighting is expected to more than offset a greater-than-targeted seasonal slowdown in consumer bulb sales. Power & RF Products revenue is tracking in-line with the company’s targets for fiscal Q4. LED Products customer unit demand is generally in-line with our targets for the quarter; however, the combination of the revenue reserves and lower pricing in the quarter is forecast to reduce fiscal Q4 revenue by approximately $35M. Overall gross margin and operating margin are now forecast to be lower than previously targeted due to the restructuring costs, the more aggressive LED pricing environment, and the larger than targeted seasonal slowdown in consumer lighting. During fiscal Q4, the company completed the previously announced $550M share buyback program by repurchasing 4.8M shares of its common stock at an average price of $33.37 per share, with an aggregate value of $160M. For fiscal year 2015, the company repurchased 16M shares of its common stock at an average price of $34.33.
16:04 EDTCREECree announces restructuring of LED products business
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16:02 EDTCREECree announces $500M stock buyback authorization for FY16
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June 23, 2015
18:00 EDTAROS&P announces changes to the S&P 400, 500, 600 indices
S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices: Columbia Pipeline Group (CPGX) will replace Allegheny Technologies (ATI) in the S&P 500, Allegheny Technologies will replace Unit Corp. (UNT) in the S&P MidCap 400, and Unit Corp. will replace PetroQuest Energy (PQ) in the S&P SmallCap 600 after the close of trading on Wednesday, July 1. S&P 500 constituent NiSource (NI) is spinning off Columbia Pipeline Group in a transaction expected to be completed on that date. NiSource will remain in the S&P 500 following the distribution. Allegheny Technologies, Unit and PetroQuest are all ranked near or at the bottom of their current indices. S&P SmallCap 600 constituent Casey’s General Stores (CASY) will replace AOL (AOL) in the S&P MidCap 400, and Nektar Therapeutics (NKTR) will replace Casey’s General Stores in the S&P SmallCap 600 after the close of trading on Thursday, June 25. S&P 100 & 500 constituent Verizon (VZ) acquired AOL in a transaction completed today. TopBuild (BLD) will replace Aéropostale (ARO) in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. S&P 500 constituent Masco (MAS) is spinning off TopBuild in a transaction expected to be completed on that date. Masco will remain in the S&P 500 following the distribution. Aéropostale is ranked near the bottom of the S&P SmallCap 600. “New” Gannett Co. (GCI) will replace Quiksilver (ZQK) in the S&P SmallCap 600 after the close of trading on Friday, June 26. S&P 500 constituent Gannett Co. (GCI) is spinning off “new” Gannett Co. in a transaction expected to be completed on that date. Post spin, the parent company will change its name to TEGNA. and trade under the symbol “TGNA”. It will remain in the S&P 500 following the distribution. Quiksilver is ranked near the bottom of the S&P SmallCap 600. Cable ONE Inc. (CABO) will replace Peabody Energy (BTU) in the S&P MidCap 400 after the close of trading on Tuesday, June 30. S&P MidCap 400 constituent Graham Holdings Company (GHC) is spinning off CableOne in a transaction expected to be completed on that date. Graham Holdings will remain in the S&P MidCap 400 following the distribution. Peabody Energy is ranked near the bottom of the S&P MidCap 400. The Chemours Co. (CC) will replace Semtech Corp. (SMTC) in the S&P MidCap 400, and Semtech will replace Paragon Offshore (PGN) in the S&P SmallCap 600 after the close of trading on Tuesday June 30. S&P 100 & 500 constituent E. I. du Pont de Nemours and Co. (DD) is spinning off Chemours in a transaction expected to be completed on that date. Dupont will remain in the S&P 100 & 500 following the distribution. Semtech and Paragon Offshore are ranked near or at the bottom of their current indices. “New “ Energizer Holdings (ENR) will replace Harsco (HSC) in the S&P MidCap 400, and Harsco will replace FXCM (FXCM) in the SmallCap 600 after the close of trading on Tuesday, June 30. S&P MidCap 400 constituent Energizer (ENR) is spinning off “new” Energizer in a transaction expected to be completed on that date. Post spin, the parent company will change its name to Edgewell Personal Care Co. and trade under the symbol “EPC”. It will remain in the S&P MidCap 400 following the distribution. Harsco and FXCM are ranked near or at the bottom of their current indices.
17:22 EDTAROTopBuild to replace Aeropostale in S&P 600 as of 6/30 close
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11:52 EDTTASRTASER moves up following a positive mention by Navellier
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