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Stock Market & Financial Investment News

News Breaks
April 15, 2014
10:00 EDTYHOO, NXST, P, PIR, QLIK, QSII, LUV, TIF, VECO, V, MS, MDAS, MA, KEG, IM, EL, CTRX, CERN, CHS, C, ENOC, EQIX, CSLOn The Fly: Analyst Upgrade Summary
Carlisle (CSL) upgraded to Outperform from Market Perform at FBR Capital... Catamaran (CTRX) upgraded to Outperform from Perform at Oppenheimer... Cerner (CERN) reinstated with an Outperform at Raymond James... Chico's FAS (CHS) upgraded to Outperform from Market Perform at FBR Capital... Citigroup (C) upgraded to Outperform from Market Perform at Bernstein... EnerNOC (ENOC) upgraded to Overweight from Neutral at JPMorgan... Equinix (EQIX) upgraded at Oppenheimer... Estee Lauder (EL) upgraded to Conviction Buy from Buy at Goldman... Ingram Micro (IM) upgraded to Buy from Neutral at Citigroup... Key Energy (KEG) upgraded to Hold from Sell at Wunderlich... MasterCard (MA) upgraded to Buy from Neutral at Janney Capital... MedAssets (MDAS) reinstated with an Outperform at Raymond James... Morgan Stanley (MS) upgraded to Buy from Neutral at BofA/Merrill... Nexstar (NXST) upgraded to Outperform from Neutral at Wedbush... Pandora (P) upgraded to Buy from Hold at Maxim... Pier 1 Imports (PIR) upgraded to Overweight from Equalweight at Barclays... Qlik Technologies (QLIK) upgraded to Buy from Neutral at Mizuho... Quality Systems (QSII) reinstated with a Market Perform at Raymond James... Southwest (LUV) upgraded to Buy from Hold at Argus... Tiffany (TIF) upgraded to Overweight from Equal Weight at Stephens... Veeco (VECO) upgraded to Buy from Hold at Berenberg... Visa (V) upgraded to Buy from Neutral at Janney Capital... Yahoo (YHOO) upgraded to Outperform from Neutral at Macquarie.
News For CSL;CTRX;CERN;CHS;C;ENOC;EQIX;EL;IM;KEG;MA;MDAS;MS;NXST;P;PIR;QLIK;QSII;LUV;TIF;VECO;V;YHOO From The Last 14 Days
Check below for free stories on CSL;CTRX;CERN;CHS;C;ENOC;EQIX;EL;IM;KEG;MA;MDAS;MS;NXST;P;PIR;QLIK;QSII;LUV;TIF;VECO;V;YHOO the last two weeks.
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July 16, 2014
14:57 EDTMSEarnings Preview: Morgan Stanley to report amid optimism on Wealth Management
Morgan Stanley (MS) is scheduled to report second quarter earnings before the open on Thursday, July 17 with a conference call scheduled for 10:00 am ET. Morgan Stanley is a bank holding company. EXPECTATIONS: Analysts are looking for EPS of 55c on revenue of $8.2B, according to First Call. The consensus range for EPS is 52c-64c on revenue of $7.58B-$8.65B. Morgan Stanley (MS) reported stronger than expected first quarter results, as the company's revenue rose to $8.9B from $8.2B. The company's wealth management unit generated pre-tax income of $691M, versus $597M in the same period a year earlier. Morgan Stanley's investment management unit saw its pre-tax income from continuing operations rise to $263M from $187M, while the pre-tax income of its institutional Securities division rose $1.4B, up from $799M. Morgan Stanley's wealth management business will continue growing and the business' return on equity will eventually be well over 10%, said the company's CEO, Tom Gorman last month, according to The New York Times. But declines in the bank's fixed income revenues may make it harder for its securities businesses to exceed a 10% return on equity, and the firm has significantly reduced its trading operations, the newspaper quoted the CEO as saying. PEERS: On July 15, Goldman Sachs reported stronger than expected results, as the bank's investment banking unit saw its net revenue rise 15% year-over-year, while the net revenues generated by its Institutional Client Services unit dropped 11%. But Goldman's investing and lending unit saw its net revenues surge 46% year-over-year. Citigroup (C), on July 14, reported higher than expected Q2 EPS excluding certain items but lower than expected revenue. Revenue from Citi's Institutional Client Group dropped 11%, as revenue from fixed income and equity markets fell. STREET RESEARCH: On July 10, research firm Bernstein recommended Morgan Stanley's stock due to its exposure to high margin investment banking. Bernstein also liked Morgan Stanley because of its exposure to wealth management. PRICE ACTION: Morgan Stanley is up almost 9% over the last three months and it has surged over 23% in the last twelve months.
14:36 EDTVVisa launches Visa Checkout payment service
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12:47 EDTYHOOYahoo falls after results disappoint, details additional plans for Alibaba stake
Shares of media and search engine company Yahoo (YHOO) are falling after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. WHAT'S NEW: Last night, Yahoo reported Q2 earnings per share of 37c and revenue ex-tac of $1.04B, narrowly missing analysts' consensus estimates of 38c and $1.08B, respectively. The company's Q2 display ad revenue fell 7% to $394M, while Q2 price per ad fell 24% versus last year. Q2 search revenue ex-tac increased 6% to $428M. Yahoo said that in Q2, the number of ads sold increased approximately 24% compared to last year, while the number of paid clicks increased approximately 3%. Price-per-click increased 15% compared to last year. Marissa Mayer, Yahoo's Chief Executive Officer, said that as the company's top priority is revenue growth, it is "not satisfied" with Q2 results. Mayer noted that several areas showed strength in the quarter, including Yahoo Search, which grew 6% year-over-year on a revenue ex-tac basis, but their growth was offset by declines. Meyer says the company needs to "work faster to ameliorate" negative trends in display. Mayer says the company "can and will do better" going forward. WHAT'S NOTABLE: Looking ahead, Yahoo forecast third quarter revenue ex-tac of $1.02B-$1.06B, below the consensus of $1.1B. The company also guided Q3 adjusted earnings before interest, taxes, depreciation and amortization, or EBTIDA, at $220M-$260M and non-GAAP operating income of $70M-$110M. Yahoo also noted that it will lower the number of shares it sells in the Alibaba IPO to 140M from 208M, and is committed to return at least half of the after-tax IPO proceeds to shareholders. Mayer noted on the company's earnings conference call that "A transformation of this size will take several years," adding that "it will take a little longer than originally forecasted." ANALYST REACTION: This morning, research firm CRT Capital downgraded Yahoo to Fair Value from Buy, citing mixed Q2 earnings and weak guidance. The firm sees pressure on ad pricing continuing for at at least two to three quarters. Another firm, Bernstein, lowered their price target on Yahoo to $40 from $43 following the company's weaker than expected results and said that it would return 50% of its proceeds from the Alibaba IPO to shareholders. The firm thinks there is an increased risk that Yahoo will use the other 50% on M&A, and Bernstein sees high risk that the M&A will destroy value. Bernstein kept an Outperform rating on the stock. Piper Jaffray said Yahoo should be owned ahead of the Alibaba IPO, noting its agreement with Alibaba to reduce the number of shares it will sell at the IPO should outweigh the "unsurprising" challenges in the company's core business. The firm, which kept an Overweight rating on the stock, expects the stock to react positively on the Q2 earnings report. PRICE ACTION: In early afternoon trading, Yahoo fell $1.66, or about 4.7%, to $33.95 on heavy trading volume. Despite today's pull back, the stock is up approximately 25% over the past 12 months. OTHERS TO WATCH: Yahoo peer AOL (AOL) is down over 4.% to $38.98. Jackie Reses, Yahoo's chief of mergers and acquisitions, said at the Fortune Brainstorm Tech Conference that the company is not planning to buy AOL, Re/code reported this morning. Mayer previously told a number of people that she does not "get" the merger.
12:26 EDTYHOOOn The Fly: Midday Wrap
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11:57 EDTYHOOStocks with call strike movement; GILD YHOO
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11:28 EDTCLeon Cooperman gives 12 stock picks at CNBC conference
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11:16 EDTCCooperman lists Actavis, Citigroup, KKR among top-picks, CNBC says
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10:00 EDTQLIK, KEGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Airlines (AAL) initiated with an Overweight at Atlantic Equities... Apple (AAPL) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Neutral at RW Baird... Brookdale Senior Living (BKD) initiated with a Buy at Goldman... CA Technologies (CA) initiated with a Market Perform at FBR Capital... Dresser-Rand (DRC) initiated with a Neutral at RW Baird... Fortinet (FTNT) initiated with a Neutral at Goldman... Frank's International (FI) initiated with a Hold at Jefferies... Home Bancorp (HBCP) initiated with an Outperform at Fig Partners... Key Energy (KEG) initiated with an Outperform at RW Baird... McDermott (MDR) initiated with a Neutral at Tigress Financial... ORBCOMM (ORBC) initiated with a Neutral at Macquarie... Oil States (OIS) initiated with an Outperform at RW Baird... PBF Energy (PBF) initiated with an Equal Weight at Barclays... Palo Alto (PANW) assumed with a Conviction Buy at Goldman... Proofpoint (PFPT) initiated with a Buy at Goldman... Qlik Technologies (QLIK) initiated with a Market Perform at FBR Capital... Radius Health (RDUS) initiated with a Buy at Canaccord... Seventy Seven Energy (SSE) initiated with a Hold at Jefferies... Superior Energy (SPN) initiated with an Outperform at RW Baird... Tandem Diabetes (TNDM) initiated with an Outperform at William Blair... Trecora Resources (TREC) initiated with a Buy at B. Riley... Ultragenyx (RARE) initiated with an Outperform at RW Baird... United Natural Foods (UNFI) initiated with an Outperform at Oppenheimer... Viper Energy (VNOM) initiated with a Market Perform at Northland... Whiting Petroleum (WLL) initiated with a Buy at Tigress Financial.
10:00 EDTYHOOOn The Fly: Analyst Downgrade Summary
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10:00 EDTIMOn The Fly: Analyst Upgrade Summary
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09:37 EDTYHOO, CActive equity options trading on open
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09:30 EDTYHOOAlibaba valued at $150B in trades ahead of IPO, WSJ says
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09:23 EDTYHOOOn The Fly: Pre-market Movers
HIGHER: Time Warner (TWX), up 15% after company confirmed that it rejected an $80B takeover offer from 21st Century Fox (FOX, FOXA), as had been reported earlier this morning... Apple (AAPL), up 2% after announcing an enterprise mobile partnership with IBM (IBM), which is also up 2%... International Game (IGT), up 9.5% after agreeing to be acquired by GTECH for $4.7B in cash and stock... FireEye (FEYE), up 5% after shares upgraded at Goldman... Precision Drilling (PDS), up 4% after announcing strategic agreement with Schlumberger (SLB), upgraded at Deutsche Bank... Mellanox (MLNX), up 4.7% following upgrade at Jefferies. UP AFTER EARNINGS: Intel (INTC), up 5.4%... HCA Holdings (HCA), up 6%... Textron (TXT), up 3.2%... Abbott (ABT), up 1%. DOWN AFTER EARNINGS: PNC Financial (PNC), down 2.5%... MGIC Investment (MTG), down 3.6%. LOWER: Yahoo (YHOO), down 3% after downgraded at CRT Capital following second quarter earnings report... Ares Capital (ARCC), down 2.5% after filing to sell 11.85M shares of common stock... Nationstar (NSM), down 2.4% after downgraded at Wells Fargo... Walter Investment (WAC), which was also downgraded at Wells Fargo, down 1.6%.
08:40 EDTMDASMedAssets renews relationship with Baylor Scott & White Health
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08:25 EDTYHOOYahoo should be owned ahead of Alibaba IPO, says Piper Jaffray
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07:55 EDTQLIKQlik Technologies initiated with a Market Perform at FBR Capital
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07:02 EDTIMIngram Micro upgraded to Buy from Neutral at BofA/Merrill
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07:00 EDTYHOOYahoo price target lowered to $40 from $43 at Bernstein
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06:09 EDTYHOOYahoo downgraded to Fair Value from Buy at CRT Capital
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06:03 EDTYHOOYahoo M&A chief says company not planning to buy AOL, Re/code reports
Yahoo (YHOO) is not planning to buy AOL (AOL), Yahoo M&A chief Jackie Reses commented at the Fortune Brainstorm Tech conference, Re/code reports. When asked whether she thought AOL would be acquired in the next two years, Reses said "Not by us." Reference Link
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