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Stock Market & Financial Investment News

News Breaks
February 20, 2013
10:31 EDTLINE, EVEP, ABB, LNCO, DOX, SYMC, MEMP, NSR, NUAN, HPT, FNP, CCJ, CYTXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Cytori Therapeutics (CYTX) initiated with a Buy at Ascendiant Capital... Hospitality Properties (HPT) initiated with a Market Perform at JMP Securities... Memorial Production (MEMP) initiated with a Buy at Wunderlich... Roadrunner (RRTS) initiated with a Buy at Deutsche Bank... Cameco (CCJ) initiated with a Buy at Cantor... Symantec (SYMC) initiated with a Buy at B. Riley Caris... Nuance (NUAN) initiated with a Neutral at B. Riley Caris... NeuStar (NSR) initiated with a Neutral at B. Riley Caris... Fifth & Pacific (FNP) initiated with a Buy at BB&T... Amdocs (DOX) initiated with a Neutral at B. Riley Caris... EV Energy (EVEP) initiated with an Overweight at JPMorgan... LinnCo (LNCO) initiated with an Overweight at JPMorgan... LINN Energy (LINE) initiated with an Overweight at JPMorgan... ABB (ABB) initiated with an Outperform at Credit Suisse.
News For CYTX;HPT;MEMP;CCJ;NUAN;SYMC;FNP;NSR;DOX;LNCO;EVEP;LINE;ABB From The Last 14 Days
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February 4, 2016
16:07 EDTSYMCSymantec announces $500M strategic investment by Silver Lake
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16:05 EDTSYMCSymantec announces $500M strategic investment by Silver Lake
14:35 EDTSYMCNotable companies reporting after market close
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February 3, 2016
10:32 EDTABBTransCanada to create up to 120 new jobs in Quebec with ABB agreement
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07:15 EDTCYTXCytori says Cytori Cell Therapy 'safe' and 'effective' in EU Phase 1 ED trial
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February 2, 2016
16:07 EDTDOXAmdocs sees Q2 EPS 84c-90c, consensus 88c
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16:06 EDTDOXAmdocs reports Q1 EPS 86c, consensus 86c
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16:05 EDTDOXAmdocs reiterates FY16 EPS growth view of 3.5%-7.5%, consensus $3.84
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February 1, 2016
12:27 EDTSYMCOptions with increasing put volume
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10:08 EDTSYMCHigh option volume stocks
High option volume stocks: NOK HLT NCLH DF GALE VMW DPS SYY SYMC PGR
January 29, 2016
16:11 EDTSYMCSymantec on track to return over $4B to shareholders by March 2017
Symantec is on track to return more than $4B in capital to its shareholders by the end of March 2017. This capital return includes a $500M accelerated share repurchase completed in January 2016; $1.8B remaining at the end of Q3 from its previously announced share repurchase program; and the additional $2B of capital return that the board announced.
16:09 EDTSYMCSymantec receives $5.3B in connection with completion of Veritas sale
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10:56 EDTSYMCIT security stocks rise after Fortinet meets expectations
The shares of a number of IT security companies are rising after one of the companies in the sector, Fortinet (FTNT), reported in-line fourth quarter results last night. JPMorgan and RBC Capital were upbeat on the company's outlook. WHAT'S NEW: Fortinet reported Q4 EPS of 18c, in line with analysts' consensus outlook. The company's revenue was also in-line with the consensus outlook, while its billings jumped 35% versus the same period a year earlier. Moreover, Fortinet's fiscal 2016 guidance also came in near consensus estimates. ANALYST REACTION: Fortinet's results show that it is gaining market share, especially overseas and among U.S. small and medium businesses, JPMorgan analyst Sterling Auty stated. Additionally, the company's margins look set to reach about 15% in fiscal 2016, up from 13% the previous year, and its free cash flow should jump 33% in fiscal 2016, the analyst predicted. He kept a $54 price target and Overweight rating on the shares, saying the quarter should bring a "welcomed lift" following the recent selloff in shares. Fortinet's guidance suggests that it will have more leverage than expected in fiscal 2016, but its outlook is also "somewhat conservative," RBC Capital analyst Dan Bergstrom wrote. Fortinet's stock is relatively cheap versus its peers and its historical norms, the analyst believes. However, he kept a $32 price target and Sector Perform rating on the shares. WHAT'S NOTABLE: Yesterday morning IT security company Check Point (CHKP) reported stronger than expected Q4 results and provided in-line fiscal 2016 EPS guidance, excluding certain items. Last night IT security company Proofpoint (PFPT) reported in-line Q4 results but provided lower than expected fiscal 2016 EPS guidance. PRICE ACTION: In late morning trading, Fortinet climbed 6% to $28. Other IT security companies also advanced, with Palo Alto (PANW) surging 7.5%, Barracuda (CUDA) gaining 2.5% to $10.60, FireEye (FEYE) rising 1.5% to $14, Check Point adding 1% to $77.70 and Symantec (SYMC) rising 1.2% to $129.75.
09:27 EDTMEMPMemorial Resource CEO John Weinzierl resigns to focus on Memorial Production
The board of Memorial Resource (MRD) announced that John Weinzierl will resign as CEO and as a member of the board, effective immediately to focus entirely on Memorial Production Partners (MEMP) as its CEO and chairman, positions he has held since 2011. The board has elected Jay Graham, former Co-CEO of WildHorse Resources II, to replace Weinzierl as MRD's CEO. Graham was also elected to the board, filling the vacancy created by Weinzierl.
January 28, 2016
10:04 EDTDOXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Amdocs (DOX) upgraded to Buy from Neutral at BofA/Merrill... Cheesecake Factory (CAKE) upgraded to Overweight from Equal Weight at Stephens... Chemical Financial (CHFC) upgraded to Buy from Hold at Sandler O'Neill... Cimarex Energy (XEC) upgraded to Buy from Hold at Wunderlich... Cirrus Logic (CRUS) upgraded to Outperform from Perform at Oppenheimer... Citrix (CTXS) upgraded on Q4 results, valuation at JMP Securities... Comerica (CMA) upgraded to Market Perform from Underperform at BMO Capital... Community Health (CYH) upgraded to Market Perform from Underperform at Raymond James... Denny's (DENN) upgraded to Overweight from Equal Weight at Stephens... Dolby (DLB) upgraded to Buy from Neutral at Dougherty... EMC (EMC) upgraded to Buy from Neutral at Mizuho... Halliburton (HAL) upgraded to Buy from Accumulate at KLR Group... Hanmi Financial (HAFC) upgraded to Strong Buy from Outperform at Raymond James... Hawaiian Holdings (HA) upgraded to Neutral at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Needham... Kinder Morgan (KMI) upgraded at Stifel... MGM China (MCHVF) upgraded to Overweight from Neutral at JPMorgan... Nimble Storage (NMBL) upgraded to Buy from Hold at Maxim... Patterson Companies (PDCO) upgraded to Buy from Neutral at UBS... PayPal (PYPL) upgraded to Outperform on core market share gains at Wedbush... Prosperity Bancshares (PB) upgraded to Buy from Neutral at DA Davidson... RPC, Inc. (RES) upgraded to Overweight from Equal Weight at Morgan Stanley... Rowan Companies (RDC) upgraded to Equal Weight from Underweight at Morgan Stanley... SanDisk (SNDK) upgraded to Buy from Neutral at Mizuho... Stillwater Mining (SWC) upgraded to Outperform from Market Perform at FBR Capital... Vantiv (VNTV) upgraded to Positive from Neutral at Susquehanna... Wilshire Bancorp (WIBC) upgraded to Outperform from Market Perform at Raymond James.
07:39 EDTABBABB contracted by Exelon subsidiary for energy storage systems
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06:30 EDTDOXAmdocs upgraded to Buy from Neutral at BofA/Merrill
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January 27, 2016
18:38 EDTMEMPMemorial Production lowers Q4 cash distribution 67% to 10c per unit
MEMP declared a cash distribution of 10c per unit for 4Q15, or 40c per unit on an annualized basis, a 20c per unit, or 67%, reduction from MEMP's Q3 distribution, to be paid on February 12 to unitholders of record as of the close of business on February 5. This new distribution rate is based on current commodity and financial market conditions and MEMP's 2016 guidance.
18:36 EDTMEMPMemorial Production sees FY16 total net average production 228-243 MMcfe/d
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09:12 EDTDOXAmdocs management to meet with Oppenheimer
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