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Stock Market & Financial Investment News

News Breaks
April 3, 2013
10:00 EDTCRR, EXAR, RDWR, IRDM, CIE, ASTX, SCMP, SIX, STNG, QCOM, ETN, FUN, NVDQOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: CARBO Ceramics (CRR) initiated with a Neutral at Goldman... Cedar Fair (FUN) initiated with a Neutral at Goldman... Eaton (ETN) initiated with an Equal Weight at Morgan Stanley... Qualcomm (QCOM) initiated with an Outperform at Northland Securities... Scorpio Tankers (STNG) initiated with a Neutral at Credit Suisse... Six Flags (SIX) initiated with a Conviction Buy at Goldman... Sucampo (SCMP) initiated with a Buy at Cantor... Astex Pharmaceuticals (ASTX) initiated with an Outperform at RBC Capital... Cobalt (CIE) initiated with an Overweight at Johnson Rice... Radware (RDWR) initiated with a Buy at Craig-Hallum... Iridium (IRDM) initiated with a Buy at Sidoti... Exar (EXAR) initiated with a Buy at Needham... Novadaq Technologies (NVDQ) initiated with a Buy at Stifel.
News For CRR;FUN;ETN;QCOM;STNG;SIX;SCMP;ASTX;CIE;IRDM;RDWR;EXAR;NVDQ From The Last 14 Days
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October 15, 2014
10:02 EDTCRROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Atwood Oceanics (ATW) initiated with a Buy at ISI Group... Baker Hughes (BHI) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Buy at ISI Group... C&J Energy (CJES) initiated with a Buy at ISI Group... CARBO Ceramics (CRR) initiated with a Hold at ISI Group... CHC Group (HELI) initiated with a Buy at ISI Group... Cameron (CAM) initiated with a Buy at ISI Group... Chart Industries (GTLS) initiated with a Buy at ISI Group... Core Laboratories (CLB) initiated with a Buy at ISI Group... Diamond Offshore (DO) initiated with a Sell at ISI Group... Dresser-Rand (DRC) initiated with a Sell at ISI Group... Dril-Quip (DRQ) initiated with a Buy at ISI Group... Ensco (ESV) initiated with a Buy at ISI Group... FIS (FIS) initiated with a Market Perform at BMO Capital... FMC Technologies (FTI) initiated with a Buy at ISI Group... GoPro (GPRO) initiated with a Sector Perform at Pacific Crest... Halliburton (HAL) initiated with a Buy at ISI Group... Helmerich & Payne (HP) initiated with a Neutral at Citigroup... Hercules Offshore (HERO) initiated with a Sell at ISI Group... Key Energy (KEG) initiated with a Buy at ISI Group... Maxwell (MXWL) reinstated with a Buy at Canaccord... Nabors Industries (NBR) initiated with a Buy at ISI Group... Noble Corp. (NE) initiated with a Buy at ISI Group... Oceaneering (OII) initiated with a Buy at ISI Group... Paragon Offshore (PGN) initiated with a Buy at ISI Group... Parker Drilling (PKD) initiated with a Buy at ISI Group... Patterson-UTI (PTEN) initiated with a Buy at Citigroup... Peabody (BTU) initiated with an Underperform at Imperial Capital... RPC, Inc. (RES) initiated with a Buy at Citigroup... Receptos (RCPT) initiated with a Buy at Goldman... Rowan Companies (RDC) initiated with a Buy at ISI Group... Schlumberger (SLB) initiated with a Buy at ISI Group... Sensata (ST) resumed with a Buy at Citigroup... Tidewater (TDW) initiated with a Hold at ISI Group... Transocean (RIG) initiated with a Sell at ISI Group... Weatherford (WFT) initiated with a Buy at ISI Group.
07:00 EDTCRRCARBO Ceramics initiated with a Hold at ISI Group
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05:58 EDTQCOMCSR calls Qualcomm takeover offer 'very attractive outcome'
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05:35 EDTQCOMQualcomm to acquire CSR for GBP 9.00 per share
Qualcomm (QCOM) announced that it has reached agreement with CSR plc (CSRE) regarding the terms of a recommended cash acquisition through which the entire issued and to be issued ordinary share capital of CSR will be acquired by Qualcomm Global Trading Pte. Ltd, an indirect wholly owned subsidiary of Qualcomm Incorporated. The acquisition complements Qualcomm's current offerings by adding products, channels, and customers in the important growth categories of Internet of Everything, or IoE, and automotive infotainment, accelerating Qualcomm's presence and path to leadership. This opportunity is aligned with Qualcomm's established strategic priorities in these rapidly growing business areas. At GBP 9.00 per share, the acquisition of the entire issued and to be issued ordinary share capital of CSR is valued at approximately $2.5B. This cash offer has been unanimously recommended by the CSR board. The acquisition is subject to a number of conditions as set forth in the announcement released today in accordance with Rule 2.7 of the UK Takeover Code, including the receipt of U.S. and other regulatory approvals and the approval of CSR's shareholders. Subject to the satisfaction of the conditions, the transaction is expected to close by the end of the summer of 2015. Qualcomm expects the acquisition to be accretive to Non-GAAP EPS in FY16, the first full year of combined operations.
October 14, 2014
17:09 EDTSTNGScorpio Tankers reports Q3 EPS guidance (1c)-(4c), consensus 3c
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13:08 EDTETNEaton rallies, Tyco falls after Barclays swaps ratings
Shares of industrial products maker Eaton (ETN) are rising while peer Tyco (TYC) is falling after analysts at Barclays upgraded the former and downgraded the latter. WHAT'S NEW: Noting that Eaton had tumbled 23.5% so far this year and Tyco had risen 1.2%, Barclays analyst Scott Davis wrote that the disparity between the stocks' valuations had become too extreme. Although Tyco faces slightly less risk and its management has been more effective than Eaton's, the two companies' profit growth is "comparable,” the analyst stated. Meanwhile, Eaton's valuation looks too low, as the stock price appears to anticipate that the company's profits will be as much as 20% below the consensus outlook, which is unlikely to occur in the near-term, Davis believes. According to Davis, the industrial sector is still in the midst of a generally positive trend although it's undergoing "a healthy correction." Stocks that have been "overly punished", such as Eaton's are likely to advance, the analyst stated. Davis upgraded Eaton to Overweight from Equal Weight and cut his rating on Tyco to Equal Weight from Overweight. He kept a $78 price target on Eaton and a $48 price target on Tyco. PRICE ACTION: In early afternoon trading, Eaton rose 2.5% to $60 and Tyco fell 3% to $40.
12:20 EDTETNOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after three of the nation's largest banks reported on their results in the most recent quarter of the year. The market began the session in positive territory but the move seemed tenuous and the averages were almost back in negative ground within a half hour of the opening bell. As the morning progressed and the bears were unable to gain control, the buyers emerged and pushed the Dow to a triple digit gain and the Nasdaq to an increase of nearly 1.5%. ECONOMIC EVENTS: In the U.S., the National Federation of Independent Business' small business optimism index came in at 95.3, versus the consensus expectation for a 95.8 reading. COMPANY NEWS: JPMorgan (JPM) swung to a third quarter profit, but its headline earnings per share fell below analysts’ consensus estimate. Of note, the company's press release on its results came out earlier than planned on Nasdaq's (NDAQ) Shareholder.com website, which the exchange operator attributed to an internal "human error." Wells Fargo (WFC) reported in-line earnings and stronger credit quality, but its stock slid 1.4% following the report. Citigroup (C) generated the most headlines, however, as it reported better than expected adjusted third quarter profit, announced plans to pull back from retail banking in eleven countries and said it will disband a legacy Banamex unit that provided personal security services after an investigation uncovered illegal conduct. Shares of Citi bucked the trend set by its two peers, rising 3% near noon... In addition to JPMorgan, Dow member Johnson & Johnson (JNJ) reported on its third quarter earnings. The drug and medical device giant reported better than expected profits and revenues and raised its FY14 EPS outlook, but the stock was fractionally lower near midday. MAJOR MOVERS: Among the notable gainers was Energy Transfer Equity (ETE), which gained 8.5% after the stock was among the energy industry names upgraded this morning at RW Baird. Also higher was Skyworks (SWKS), which rose 11% after the company preannounced stronger than expected results that its CEO attributed to the "broad-based strength" of its business. Among the noteworthy losers was EnerNOC (ENOC), which dropped 11% after JPMorgan downgraded the stock to Neutral citing risk to the company's Demand Response revenue at PJM given the challenge to FERC Rule 745. Also lower was Tyco (TYC), which fell nearly 4% after Barclays downgraded the stock citing valuation and coupled the ratings change with an upgrade of Eaton (ETN). INDEXES: Near midday, the Dow was up 133.38, or 0.82%, to 16,454.45, the Nasdaq was up 60.63, or 1.44%, to 4,274.29, and the S&P 500 was up 21.51, or 1.15%, to 1,896.25.
10:01 EDTETNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
07:24 EDTQCOMIntel gains government ally in China with new deals, Reuters says
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06:47 EDTSCMPSucampo signs amendment to license agreement for AMITIZA with Takeda
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06:37 EDTQCOMUMC lands 28nm LTE chip orders from Qualcomm, DigiTimes reports
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05:29 EDTETNTyco downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Tyco (TYC) citing valuation and keeps a $48 price target for shares. The firm coupled the downgrade with an upgrade of Eaton (ETN).
05:28 EDTETNEaton upgraded to Overweight from Equal Weight at Barclays
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October 13, 2014
16:47 EDTEXARExar doubles Hadoop Performance
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12:33 EDTCIEOptions with increasing implied volatility
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October 12, 2014
17:20 EDTQCOMGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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October 10, 2014
12:11 EDTCIEOptions with increasing implied volatility
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10:48 EDTCRRSouthernSun Asset reports 12% passive stake in CARBO Ceramics
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10:01 EDTSCMPOn The Fly: Analyst Upgrade Summary
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07:01 EDTSCMPSucampo upgraded to Buy from Hold at Maxim
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