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December 12, 2012
10:00 EDTHOMB, OZRK, IO, PCLN, CR, YELP, XEL, OWW, UA, NKE, OPEN, MFRM, MMYT, KRC, EXPE, DECK, CZZ, CYNOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: City National (CYN) initiated with a Market Perform at Wells Fargo... Cosan (CZZ) initiated with an Overweight at Barclays... Deckers Outdoor (DECK) initiated with a Buy at Janney Capital... Expedia (EXPE) initiated with a Neutral at Janney Capital... Kilroy Realty (KRC) initiated with an Outperform at Wells Fargo... MakeMyTrip (MMYT) initiated with a Neutral at Janney Capital... Mattress Firm (MFRM) initiated with a Buy at Citigroup... Nike (NKE) initiated with a Neutral at JPMorgan... OpenTable (OPEN) initiated with an Overweight at JPMorgan... Orbitz Worldwide (OWW) initiated with a Buy at Janney Capital... Under Armour (UA) initiated with an Underweight at JPMorgan... Xcel Energy (XEL) initiated with a Neutral at Goldman... Yelp (YELP) initiated with a Neutral at JPMorgan... (PCLN) initiated with a Neutral at Janney Capital... Crane (CR) initiated with a Buy at Capstone... ION Geophysical (IO) initiated with a Buy at Dougherty... Bank of the Ozarks (OZRK) initiated with a Hold at BGB Securities... Home Bancshares (HOMB) initiated with a Hold at BGB Securities.
Check below for free stories on CYN;CZZ;DECK;EXPE;KRC;MMYT;MFRM;OPEN;NKE;UA;OWW;XEL;YELP;CR;PCLN;IO;OZRK;HOMB the last two weeks.
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September 9, 2014
06:20 EDTNKEForrester: Apple could sell 10M iWatches this year, FT reports
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September 5, 2014
16:45 EDTMFRMMarket ends week little changed after mixed economic data
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12:42 EDTPCLNStocks with increasing options volume
Stocks with increasing options volume: VALE MCP KORS WAG GM PCLN
11:33 EDTCRCrane management to meet with FBR Capital
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11:06 EDTMMYTMakeMyTrip management to meet with Jefferies
Meetings to be held in the Mid-Atlantic area September 10 -11 hosted by Jefferies.
10:05 EDTPCLNOn The Fly: Analyst Downgrade Summary
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06:59 EDTPCLNPriceline downgraded to Equal-Weight from Overweight at Evercore
Evercore downgraded Priceline (PCLN) to Equal Weight based on Google (GOOG) competitive concerns. The analyst is positive on Priceline's Enterprise initiatives but said they are in the early stages and don't address new "captive demand" channels Google is integrating. Price target lowered to $1,350 from $1,450.
06:27 EDTYELPCourt rules Yelp has no obligation to show positive reviews, WSJ reports
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September 4, 2014
16:24 EDTMFRMOn The Fly: Closing Wrap
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12:34 EDTMFRMOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory after the ECB lowered its benchmark interest rate and took additional measures in an attempt to stimulate the region’s economy. The averages had some early momentum, but found a level about an hour into trading around which they have since traded in a narrow range. ECONOMIC EVENTS: In the U.S., payroll provider ADP estimated private sector employment increased by 204K jobs in August, which was below the consensus forecast for 215K private sector jobs to have been added. Initial jobless claims rose 4K to 302K in the week ended August 30, which was close to the 300K estimate. The trade deficit narrowed slightly to $40.5B in July, beating expectations for a deficit of $42.5B. Second quarter nonfarm productivity growth was revised lower to 2.3% versus the 2.5% pace reported initially. Unit labor costs were revised down to a decrease of 0.1% from a rise of 0.6% estimated previously. Markit's services PMI for August came in at 59.5, versus a consensus forecast of 58.5. ISM's non-manufacturing PMI for August had a reading of 59.6, easily topping the 57.7 consensus estimate. In Europe, the European Central Bank unexpectedly cut the rate at which it issues short-term loans to banks to 0.05% from 0.15% and lowered its growth forecasts for 2014 and 2015. The ECB also announced plans to buy asset-backed securities, which the central bank's president Mario Draghi said will have a “sizable” impact on its balance sheet without providing further details on the size of the planned purchases. COMPANY NEWS: Shares of oil major BP (BP) trading in New York fell about 6% after a federal judge ruled that the company acted with "gross negligence" in causing the Gulf of Mexico spill in 2010 that was the biggest offshore oil spill in U.S. history. U.S. District Judge Carl Barbier, who held a trial without a jury over who was at fault, also found Transocean (RIG) and Halliburton (HAL) "negligent," but rested much more of the blame on BP, with 67% of the liability assigned to BP, 30% to Transocean and 3% to Halliburton. Afterward, BP said it "strongly disagrees" with the decision and will immediately appeal. MAJOR MOVERS: Among the notable gainers following their earnings reports were Mattress Firm (MFRM), which rose 12%, and Methode Electronics (MEI), which gained 16%. Also higher was Bolt Technology (BOLT), which surged 36% after the company agreed to be acquired by Teledyne Technologies (TDY) for $22.00 per share in cash. Shares of Teledyne advanced nearly 2% following last night's deal announcement. Among the noteworthy losers was Matrix Service (MTRX), which dropped 21% after its earnings for the just completed quarter and its profit forecast for its new fiscal year fell short of analysts' expectations. Also lower following their earnings reports were Ciena (CIEN), which fell over 7%, and Shoe Carnival (SCVL), which dropped more than 10%. INDEXES: Near midday, the Dow was up 43.83, or 0.26%, to 17,122.11, the Nasdaq was up 15.15, or 0.33%, to 4,587.71, and the S&P 500 was up 5.23, or 0.26%, to 2,005.95.
09:25 EDTMFRMMattress Firm says 'loves' doing tuck-in acquisitions
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08:56 EDTMFRMMattress Firm says traffic trends 'choppy'
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07:18 EDTEXPEACCC cites competition concerns about Expedia proposed acquisition of Wotif
The Australian Competition and Consumer Commission has released a Statement of Issues outlining competition issues that have arisen to date from the ACCC’s review of the proposed acquisition of Holdings by Expedia. The ACCC is exploring whether the removal of Wotif from the Australian market has the potential to increase the rate of commissions charged to hotels and other accommodation providers in Australia. The ACCC’s preliminary view is that bricks and mortar travel agents are unlikely to be a strong constraint on the operations of OTAs and therefore do not form part of the relevant market. “The ACCC is seeking further information to determine whether the proposed acquisition is likely to substantially lessen competition in the market for the online distribution of Australian accommodation,” ACCC Chairman Rod Sims said. Reference Link
07:08 EDTMFRMMattress Firm sees $200M in annual run rate synergies by FY17
Due to company's acquisition of Sleep Train, Mattress Firm expects an estimated $200M in annual run rate synergies by FY17.
07:06 EDTMFRMMattress Firm reports Q2 adjusted EPS 61c, consensus 60c
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07:04 EDTMFRMMattress Firm acquires Sleep Train equity interests for $425M
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September 3, 2014
17:49 EDTDECKDeckers Outdoor CEO sold 40K shares for $3.71M, Barron's says
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17:37 EDTIOION CEO purchases 20K shares at $3.33, shares remain 3.5% higher in after hours
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17:31 EDTIOION up 3.5% in after hours trading following Teledyne acquisition of Bolt
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15:29 EDTMFRMNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Joy Global (JOY), consensus 84c; VeriFone Systems (PAY), consensus 35c; Ciena (CIEN), consensus 29c; Mattress Firm (MFRM), consensus 60c; Methode Electronics (MEI), consensus 40c; UTi Worldwide (UTIW), consensus 1c.
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