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Stock Market & Financial Investment News

News Breaks
May 20, 2014
15:59 EDTCP, NSC, CSX, GBX, GWR, CNI, TRN, UNP, KSUNDPC study shows Bakken consistency, similarity to other light sweet crudes
Bakken crude is similar to other North American light, sweet crudes and does not pose a greater risk to transport by rail than other transportation fuels, concluded a study recently completed by Turner, Mason & Company for the North Dakota Petroleum Council, NDPC. The data also showed that Bakken crude is consistent throughout the basin with only minor geographic variability in gravity, and is comparable to other light, sweet crudes. “This is the third independent study to confirm that Bakken crude does not significantly differ from other crude oils and poses no greater risks than other flammable liquids authorized for rail transport,” said Kari Cutting, vice president of the NDPC. Publicly traded companies in the space include CSX (CSX), Canadian National (CNI), Canadian Pacific (CP), Genesee & Wyoming (GWR), Kansas City Southern (KSU), Norfolk Southern (NSC), Trinity Industries (TRN), The Greenbrier Companies (GBX) and Union Pacific (UNP). Reference Link
News For CSX;KSU;CNI;NSC;UNP;GWR;CP;TRN;GBX From The Last 14 Days
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January 28, 2016
10:42 EDTNSCNorfolk Southern upgraded to Market Perform at Avondale (pre-open)
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09:37 EDTNSCNorfolk Southern downgraded to Neutral from Buy at Buckingham
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January 27, 2016
16:36 EDTNSCOn The Fly: Top stock stories for Wednesday
Stocks began the session in negative territory as sliding oil prices and disappointing guidance from Apple (AAPL) and Boeing (BA) had investors on the defensive. The averages reversed and moved into positive territory following a rally in oil, which came despite the weekly Department of Energy inventory build up coming in higher than expected. The market pared its gains heading into the Fed's rate announcement and then moved sharply lower following the central banks comments about lower growth in U.S. in 2016. Other comments were less dovish than expected and the market sold off into the close. ECONOMIC EVENTS: In the U.S., new home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. The FOMC rate decision was issued at 2:00 pm, with the Federal Reserve keeping interest rates unchanged and commenting that the "Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate... Inflation is expected to remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further." COMPANY NEWS: Apple (AAPL) declined $6.55, or 6.55% to $93.44 after the tech giant reported first quarter earnings that topped consensus estimates last night, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China... Apple was not the worst performer in the Dow, however, with that distinction going to Boeing (BA). Shares of the commercial airplane maker and defense contractor plummeted $11.43, or 8.93%, to $116.58 after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Shell (RDS.A, RDS.B) investors approved the company's proposed acquisition of BG Group (BRGYY), with roughly 83% of votes cast in favor of the deal. MAJOR MOVERS: Among the notable gainers was SunEdison (SUNE), which added 8.7% to its already meaningful gains over the past several days after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote. Also higher was Freeport McMoRan (FCX), which gained 10.95% to $4.66 after Indonesia's energy minister said he is "certain" of finding a solution to extend the company's copper export permit and as analysts applauded the company's decision to consider selling mining assets to pay down debt. Meanwhile, United Technologies (UTX), Biogen (BIIB) and Norfolk Southern (NSC) rose 0.19%, 5.15% and 1.44%, respectively, following their earnings reports. Among the noteworthy losers was DeVry (DV), which crashed 15.4% to $20.09 after the FTC filed suit over its allegedly deceptive marketing, with the Department of Education also announcing actions against the for-profit education company. Also lower were U.S. Steel (X), VMware (VMW) and Anthem (ANTM), which lost 14.35%, 9.82% and 4.74%, respectively, following their earnings reports. INDEXES: The Dow fell 222.77, or 1.38%, to 15,944.46, the Nasdaq lost 99.51, or 2.18%, to 4,468.17, and the S&P 500 declined 20.68, or 1.09%, to 1,882.95.
10:00 EDTCNIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BG Group (BRGYY) downgraded to Neutral from Outperform at Credit Suisse... Bed Bath & Beyond (BBBY) downgraded to Sell from Neutral at Citi... Bill Barrett (BBG) downgraded to Neutral from Buy at Ladenburg... Brown & Brown (BRO) downgraded to Underweight at Morgan Stanley... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at BTIG... Canadian National (CNI) downgraded to Market Perform from Outperform at Raymond James... DreamWorks (DWA) downgraded to Sell from Hold at Topeka... FirstMerit (FMER) downgraded at RBC Capital... Gentex (GNTX) downgraded to Neutral from Outperform at Baird... Haverty Furniture (HVT) downgraded to Sector Weight from Overweight at KeyBanc... Hercules Technology (HTGC) downgraded to Neutral from Buy at Compass Point... Horizon Technology (HRZN) downgraded to Market Perform from Outperform at Raymond James... Installed Building downgraded to Sector Weight from Overweight at KeyBanc... Jarden (JAH) downgraded to Neutral from Buy at Citi... K+S (KPLUF) downgraded to Sell from Hold at Berenberg... La-Z-Boy (LZB) downgraded at BB&T... Legacy Reserves (LGCY) downgraded to Market Perform from Outperform at FBR Capital... Medivation (MDVN) downgraded to Hold from Buy at Canaccord... Merck (MRK) downgraded to Neutral from Buy at BofA/Merrill... Metaldyne Performance (MPG) downgraded to Neutral from Outperform at Baird... Pier 1 Imports (PIR) downgraded to Sector Weight from Overweight at KeyBanc... Priceline (PCLN) downgraded to Neutral from Buy at Goldman... Profire Energy (PFIE) downgraded to Neutral from Buy at Chardan... Regeneron (REGN) downgraded to Hold at Canaccord... Starwood (HOT) downgraded to Underperform from Outperform at CLSA... Swiss Re (SSREY) downgraded to Equal Weight from Overweight at Morgan Stanley... TSYS (TSS) downgraded to Equal-Weight from Overweight at First Analysis... Talmer Bancorp (TLMR) downgraded to Sector Perform from Outperform at RBC Capital... TopBuild (BLD) downgraded to Sector Weight from Overweight at KeyBanc... TripAdvisor (TRIP) downgraded to Sell from Neutral at Goldman... VMware (VMW) downgraded to Hold from Buy at Summit Research... W.R. Grace (GRA) downgraded to Buy from Conviction Buy at Goldman... WEC Energy (WEC) downgraded to Neutral from Conviction Buy at Goldman... Welltower (HCN) downgraded to Underperform from Market Perform at BMO Capital... Yamana Gold (AUY) downgraded to Neutral from Overweight at JPMorgan.
08:58 EDTCNICanadian National downgraded to Market Perform from Outperform at Raymond James
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08:49 EDTGBXGreenbrier could become takeover target, says KeyBanc
KeyBanc believes that M&A within the machinery sector could intensify. The firm identifies Greenbrier as the top potential target within the railcar sector, citing what it sees as the company's "solid backlog and balance sheet, as well as significant liquidity, solid dividend yield, and strong returns and free cash flow conversion." The firm says that Greenbrier's valuation has reached historic lows. It keeps a $40 price target and Overweight rating on the name. .
08:07 EDTNSCNorfolk Southern provides further details in expense savings
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08:06 EDTNSCNorfolk Southern expects to reduce headcount by 2,000 employees by 2020
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08:05 EDTNSCNorfolk Southern plans to reduce costs, achieve annual savings of $650M by 2020
Norfolk Southern announced further details of its strategic plan designed to streamline operations and drive profitability and growth. The company's projected expense reduction and disciplined cost control initiatives are in the categories of compensation and benefits, purchased services and rents, materials, and fuel. The company expects to achieve annual productivity savings of more than $650M per year by 2020, growing from an initial $130M in 2016. With this plan, Norfolk Southern expects to improve consistency, reliability, and availability, resulting in a faster, lower cost, and more profitable railroad. The Company has already begun implementing the plan and expects associated net benefits to begin appearing in Norfolk Southern's financial results beginning in the first half of 2016. The strategic plan, which was announced on Dec. 4, 2015, is the result of a six-month, comprehensive evaluation of the company's business model, including customer service, network performance efficiency measures, and revenue growth. As a result of these measures, the Company expects to achieve an operating ratio below 70 in 2016 with additional improvements driving OR to less than 65 by 2020, with double digit annual EPS growth, increased ROE and higher return of capital.
08:03 EDTNSCNorfolk Southern reports Q4 EPS $1.20, consensus $1.23
Reports Q4 revenue $2.52B, consensus $2.57B. Results included expenses related to restructuring the company's Triple Crown Services subsidiary and closing its Roanoke, Va., office, which together reduced fourth-quarter net income by $31 million, or 10c per share.
January 26, 2016
18:37 EDTCPPershing Square says not selling Valeant a 'very costly mistake'
In its Annual Investor Letter, Pershing Square said, in part, that not selling Valeant (VRX) was a "very costly mistake." It also noted that not trimming its Canadian Pacific (CP) stake was a "similar error," and that they paid too much for additional stock in Platform Specialty Products (PAH). Reference Link
17:47 EDTCP, NSCSenator calls for investigation of Canadian Pacific pursuit of Norfolk Southern
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16:11 EDTCNICanadian National announces 20% increase in quarterly dividend
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16:10 EDTCNICanadian National sees FY16 mid-single digit EPS growth over 2015
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16:08 EDTCNICanadian National reports Q4 EPS C$1.18 , consensus C$1.12
Reports Q4 revenue C$3.17B, consensus C$3.26B.
14:32 EDTNSCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
14:05 EDTNSCNorfolk Southern volatility elevated into Q4 and outlook
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January 25, 2016
07:39 EDTKSUKansas City Southern price target lowered to $80 from $88 at UBS
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07:37 EDTNSCJ.B. Hunt should be bought at current levels, says RBC Capital
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07:34 EDTKSU, CSX, UNPRailroad stocks look attractive, says RBC Capital
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