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Stock Market & Financial Investment News

News Breaks
February 5, 2014
12:00 EDTCVS, PM, LO, MO, RAICVS plans to stop selling cigarettes and other tobacco products
CVS Caremark (CVS) earlier today announced its decision to cease selling tobacco at all locations starting October 1. WHAT'S NOTABLE: CVS Caremark said its choice to exit the tobacco category does not affect the company's 2014 segment operating profit guidance, 2014 earnings per share guidance, or the company's five-year financial projections. The company estimates that it will lose approximately $2B in revenues on an annual basis from the tobacco shopper, equating to approximately 17c per share. Given the anticipated timing for implementation of this change, the impact to 2014 earnings per share is expected to be in the range of 6c-9c per share. The company has identified incremental opportunities that are expected to offset the profitability impact, CVS added. WHAT'S NOTABLE: Deutsche Bank believes CVS Caremark's decision to stop selling tobacco products is in-line with its strategy to become more of a healthcare services company. Deutsche thinks the move could improve CVS' competitive positioning and it keeps a Hold rating on the stock. PRICE ACTION: During late morning trading, shares of CVS Caremark were down 1.5% to trade near $65. Like the broader S&P 500, shares of a number of tobacco product makers were generally lower. Philip Morris (PM) fell 0.88% to $76.20, Reynolds American (RAI) fell 0.7% to $47.17, Lorillard (LO) fell 2.5% to $47.64 and Altria Group (MO) fell 1.2% to $34.02.
News For CVS;PM;LO;MO;RAI From The Last 14 Days
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October 24, 2014
10:03 EDTLOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Align Technology (ALGN) upgraded to Buy from Hold at Jefferies... Brandywine Realty (BDN) upgraded to Buy from Hold at Stifel... Buffalo Wild Wings (BWLD) upgraded to Buy from Hold at Feltl... Carpenter Technology (CRS) upgraded to Overweight from Neutral at JPMorgan... Check Point (CHKP) upgraded to Buy from Hold at Needham... Diamond Offshore (DO) upgraded at ISI Group... Digital Realty (DLR) upgraded to Market Perform from Underperform at Cowen... EQT Corporation (EQT) upgraded to Buy from Neutral at SunTrust... Education Realty (EDR) upgraded to Buy from Hold at MLV & Co.... Gigamon (GIMO) upgraded to Neutral from Underperform at BofA/Merrill... Halliburton (HAL) upgraded to Buy from Neutral at Citigroup... Invacare (IVC) upgraded at KeyBanc... Knight Transportation (KNX) upgraded to Neutral from Underperform at Credit Suisse... Logitech (LOGI) upgraded to Buy from Neutral at UBS... Lorillard (LO) upgraded to Market Perform from Underperform at Cowen... Maxim Integrated (MXIM) upgraded to Buy from Hold at Deutsche Bank... NCR Corp. (NCR) upgraded to Neutral from Sell at Goldman... Nabors Industries (NBR) upgraded to Buy from Hold at Argus... Nucor (NUE) upgraded to Outperform from Underperform at CLSA... Old National Bancorp (ONB) upgraded to Buy from Neutral at DA Davidson... Plexus (PLXS) upgraded to Outperform from Market Perform at Raymond James... Potash (POT) upgraded to Buy from Hold at TD Securities... Reliance Steel (RS) upgraded to Buy from Hold at Jefferies... ResMed (RMD) upgraded to Outperform from Market Perform at William Blair... Royal Dutch Shell (RDS.A) upgraded to Buy from Neutral at UBS... Swift Transport (SWFT) upgraded to Buy from Hold at Stifel... Vulcan Materials (VMC) upgraded to Overweight from Equal Weight at Stephens... Weatherford (WFT) upgraded to Buy from Neutral at Citigroup.
06:39 EDTLOLorillard upgraded to Market Perform from Underperform at Cowen
Price target is $62.
October 23, 2014
07:05 EDTRAI, LOLorillard says on track to close Reynolds American merger in 1H15
The company said, "We are very excited about completing the combination with Reynolds, which we expect to occur in the first half of 2015, as it delivers significant and immediate value to our shareholders, as well as a meaningful ownership stake in the combined company that will enjoy multiple flagship tobacco brands well-positioned for continued long-term success."
07:04 EDTLOLorillard reports Q3 adjusted EPS 90c, consensus 90c
Reports Q3 revenue $1.83B, consensus $1.33B. Lorillard retail market share of cigarettes for Q3 was 15.1%, increasing 0.3 share points compared to the corresponding period of 2013. Newport retail market share for Q3 was 12.8%, increasing 0.3 share points versus last year.
October 22, 2014
15:37 EDTLONotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 71c; Union Pacific (UNP), consensus $1.52; 3M (MMM), consensus $1.96; AbbVie (ABBV), consensus 77c; Celgene (CELG), consensus 95c; Eli Lilly (LLY), consensus 67c; Occidental Petroleum (OXY), consensus $1.57; Caterpillar (CAT), consensus $1.36; Alexion Pharmaceuticals (ALXN), consensus $1.16; Precision Castparts (PCP), consensus $3.32; Raytheon (RTN), consensus $1.60; American Electric Power (AEP), consensus $1.02; Southwest Airlines (LUV), consensus 53c; Lorillard (LO), consensus 90c; T. Rowe Price (TROW), consensus $1.15; Mead Johnson (MJN), consensus 91c; Zimmer Holdings (ZMH), consensus $1.30; Nucor (NUE), consensus 73c; Nielsen (NLSN), consensus 65c; Prologis (PLD), consensus 46c; Sigma-Aldrich (SIAL), consensus $1.06; Under Armour (UA), consensus 40c; EQT (EQT), consensus 56c; Dr Pepper Snapple (DPS), consensus 88c; Cameron International (CAM), consensus $1.10; Coca-Cola Enterprises (CCE), consensus 89c; Quest Diagnostics (DGX), consensus $1.08; CMS Energy (CMS), consensus 41c; Airgas (ARG), consensus $1.29; PulteGroup (PHM), consensus 36c; Diamond Offshore (DO), consensus 79c; Bemis (BMS), consensus 67c.
October 21, 2014
11:15 EDTRAIHigh option volume stocks
High option volume stocks: DBA TUP CRI FCG TWC PLL ACM XRS RAI AMTD
08:03 EDTCVSCVS offering drug plan with higher co-pay at stores selling tobacco, WSJ says
CVS Health (CVS), which stopped selling tobacco products last month, is now offering a prescription-drug plan via its pharmacy benefits unit Caremark that charges patients copayments that are up to $15 higher on prescriptions filled where tobacco is sold, which includes at rival pharmacies operated by Walgreen (WAG) and Rite-Aid (RAD), reported The Wall Street Journal. Reference Link
07:11 EDTLO, RAIReynolds American says responding to second request from FTC regarding Lorillard
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07:10 EDTRAIReynolds American still sees FY14 adjusted EPS $3.35-$3.45, consensus $3.38
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07:09 EDTRAIReynolds American reports Q3 adjusted EPS 95c, consensus 91c
Reports Q3 revenue $2.24B, consensus $2.19B.
07:09 EDTRAIReynolds American reaffirms FY guidance
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06:30 EDTPMPhilip Morris implied volatility of 15 at lower end of index mean range
October 20, 2014
15:36 EDTRAINotable companies reporting before tomorrow's open
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October 16, 2014
07:07 EDTPMPhilip Morris narrows 2014 adjusted EPS growth outlook to 6.5%-7.5%
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07:04 EDTPMPhilip Morris reports adjusted Q3 EPS $1.39, consensus $1.33
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October 15, 2014
15:28 EDTPMNotable companies reporting before tomorrow's open
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October 14, 2014
14:01 EDTPMPhilip Morris October volatility elevated into Q3 and guidance
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October 13, 2014
07:39 EDTCVSPharmaceutical Care Management Association to hold annual meeting
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