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Stock Market & Financial Investment News

News Breaks
April 3, 2013
10:00 EDTNVDQ, IRDM, SCMP, QCOM, CRR, EXAR, CIE, SIX, ETN, RDWR, ASTX, STNG, FUNOn 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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November 18, 2014
07:37 EDTSCMPStifel to hold a conference
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06:14 EDTCRRCARBO Ceramics initiated with a Neutral at SunTrust
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06:04 EDTQCOMQualcomm to host analyst meeting
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November 17, 2014
13:57 EDTQCOMQualcomm volatility flat into analyst meeting
Qualcomm November call option implied volatility is at 22, December and January is at 20, February is at 21; compared to its 26-week average of 21 according to Track Data, suggesting non-directional price movement into a company sponsored analyst meeting on November 19
November 14, 2014
15:20 EDTNVDQNovadaq to host investor day
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12:53 EDTQCOMOmega Advisors gives quarterly update on stakes
NEW STAKES: AerCap Holdings (AER), Nordic American Offshore (NAO), Melco Crown Entertainment (MPEL), Groupon (GRPN), and Ashland (ASH). INCREASED STAKES: QEP Resources (QEP), United Continental (UAL), Cabot Oil & Gas (COG), Actavis (ACT), and KAR Auction Services (KAR). DECREASED STAKES: Sprint (S), SandRidge Energy (SD), Sirius XM Holdings (SIRI), Kinder Morgan (KMI), and Transocean (RIG). LIQUIDATED STAKES: QUALCOMM (QCOM), Ocwen Financial (OCN), Freeport-McMoRan (FCX), Boston Scientific (BSX), and Capital One (COF).
05:31 EDTSTNGScorpio Tankers initiated with a Buy at UBS
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November 13, 2014
11:30 EDTEXARExar management to meet with B. Riley
Meetings to be held in Dallas on November 18 and in St. Louis on November 19 hosted by B. Riley.
November 12, 2014
17:33 EDTSCMPSucampo files patent infringement suit against Dr. Reddy's Labs
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12:55 EDTQCOMNVIDIA says Samsung files counter-suit, patent infringement claims
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11:44 EDTSIX, FUNSeaWorld sinks to 52-week low after Q3 profit, attendance fall
Shares of theme park and entertainment company SeaWorld (SEAS) are plunging after the company’s profit, attendance and adjusted EBITDA all fell significantly on a year over year basis. The also forecast fiscal year 2014 revenue and adjusted EBITDA to be down from last year. WHAT'S NEW: This morning, SeaWorld reported Q3 adjusted earnings per share of $1.01, missing analysts' $1.13 consensus by 12 cents. Revenue for the quarter was $495.84M, compared to analysts' consensus estimates of $495.4M. Adjusted EBITDA in the quarter was $209.1M, a decrease of $45.3M, or 18%, compared to the third quarter of 2013. Attendance in Q3 ws 8.4M, down from 8.9M a year ago. The company believes the decline in attendance results from a combination of factors including negative media attention in California along with a challenging competitive environment, particularly in Florida. The competitive challenges in Florida relate to significant new attraction offerings at competitor destination parks, along with a delay in the scheduled opening of one of the company's new rides at its Busch Gardens Tampa park. The decrease in total revenue in the third quarter was primarily driven by a 5.2% decline in attendance, along with a 2.9% decline in total revenue per capita from $60.74 in the third quarter of 2013 to $58.99. WHAT’S NOTABLE: Looking ahead, SeaWorld forecast FY14 revenue and adjusted EBITDA to be down 6%-7% and 14%-16%, respectively. The FY14 revenue consensus ahead of the company's report was $1.37B. The company also said it expects to take a restructuring charge of up to $13M in Q4 related to its cost reduction initiatives. The company sees FY14 capital expenditures to be in the range of $155M-$165M and fiscal year 2015 CapEx to be in the range of $185M-$195M. Jim Atchison, the company's Chief Executive Officer, noted that the attendance trends the company experienced in the latter part of the second quarter continued into Q3. He called 2014 a “challenging year,” and said the company was executing a cost savings plan that is expected to deliver approximately $50M of annual cost savings by the end of 2015. He also said the company was adjusting its attraction and marketing plans to address immediate top-line concerns. PRICE ACTION: In late morning trading, SeaWorld fell $2.24, or 12.04%, to $16.36 on more than twice its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $16.53. Including today's pull back, the shares have lost approximately 48% over the past 12 months. OTHERS TO WATCH: Other companies in the theme park space include Disney (DIS), up 0.03%, Six Flags (SIX), down 0.16%, and Cedar Fair (FUN), up 0.76%.
08:05 EDTETNGoldman to hold a conference
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07:48 EDTSIX, FUNWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
06:15 EDTNVDQJanus Capital reports 10.6% passive stake in Novadaq
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November 11, 2014
10:00 EDTSTNGOn The Fly: Analyst Initiation Summary
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07:34 EDTSTNGScorpio Tankers accepts delivery of three vessels
Scorpio Tankers recently took delivery of the STI Sloane, an LR2 product tanker, was delivered from Hyundai Samho Heavy Industries in November 2014. Upon delivery, this vessel began a voyage for 45 days at approximately $30,000 per day; STI Broadway, an LR2 product tanker, was delivered from DSME in November 2014. Upon delivery, this vessel began a voyage for 45 days at approximately $30,000 per day; STI Milwaukee, an MR product tanker, was delivered from Hyundai Mipo Dockyard of South Korea in November 2014. Upon delivery, this vessel began a time charter for up to 120 days at approximately $18,000 per day.
07:33 EDTSTNGScorpio Tankers provides update regarding investment in Dorian LPG
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07:32 EDTSTNGScorpio Tankers raises quarterly dividend by 20% to 12c per share
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06:12 EDTSTNGScorpio Tankers initiated with a Buy at MLV & Co.
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November 10, 2014
06:28 EDTQCOMReport: TSMC may buy Qualcomm Taiwan factory, DigiTimes says
TSMC (TSM) is considering an acquisition of Qualcomm's (QCOM) Taiwan factory to expand its packaging and test business, reports DigiTimes. Citing a Chinese-language Economic Daily News report, the Qualcomm factory will be acquired for several billion NT dollars. Reference Link
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