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Stock Market & Financial Investment News

News Breaks
August 30, 2012
16:24 EDTDD, CG, FSR, VR, ZLC, CIEN, FSLROn The Fly: Closing Wrap
Stocks on Wall Street were lower in another day of sluggish trading prior to the holiday weekend. Stock futures were negative in early trading, leading to a lower open for the broader market. The market generally ignored the flat economic reports, including the personal spending and income reports and the jobless claims data. The averages remained in a narrow range for the first hour of trading but then moved another leg lower, where they remained for most of the session, before another downdraft into the close. The news flow was light, as was the volume, as investors have not traded with great conviction this week ahead of Labor Day... ECONOMIC EVENTS: Domestically, 374,000 initial jobless claims were reported, versus the expected 370,000. Personal income rose 0.3% during the month of July, which matched expectations, while personal spending was up 0.4%, versus expectations for an increase of 0.5%... COMPANY NEWS: DuPont (DD) agreed to sell its Performance Coatings business to Carlyle Group (CG) for $4.9B... MAJOR MOVERS: Among the notable gainers were Flagstone Reinsurance (FSR), up $1.54, or 21.81%, to $8.60, after agreeing to be acquired by Validus (VR) in a cash and stock deal, and Zale (ZLC), up 70c, or 16.17%, to $5.03, as it was upgraded to a Buy rating at Northcoast and continued yesterday's move higher after earnings. Noteworthy losers included Ciena (CIEN), down $3.26, or 19.50%, to $13.46, following its disappointing Q3 results and Q4 guidance, and First Solar (FSLR), down $4.50, or 18.60%, to $19.70, though Avian said the sell-off in shares related to a Bloomberg story about a halt of panel deliveries at the Agua Caliente project was overdone since the information was not new... INDICES: The Dow lost 106.77, or 0.81%, to 13,000.71; the Nasdaq fell 32.48, or 1.05%, to 3,048.71; and the S&P 500 dropped 11.01, or 0.78%, to 1,399.48.
News For DD;CG;FSR;VR;ZLC;CIEN;FSLR From The Last 14 Days
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July 22, 2014
16:36 EDTDDOn The Fly: Closing Wrap
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15:49 EDTCGBlackstone to buy majority stake in Service King from Carlyle, WSJ says
Blackstone's (BX) purchase from Carlyle Group (CG) of the majority stake in the repair chain values the company at about $650M, according to The Wall Street Journal, citing a source. Reference Link
14:25 EDTCGBlackstone to buy majority stake in Service King from Carlyle, Dow says
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12:29 EDTDDOn The Fly: Midday Wrap
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09:47 EDTDDDuPont confident in profitable Q4 due to strong crop protection business
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08:37 EDTDDDuPont sees Nutrition and Health to have modest growth in Q3
Q3 Nutrition and Health operating earnings to be higher due to higher sales, mix enrichment and productivity. Sees Q3 Industrial Biosciences sales to up be modestly on continued enzyme demand in ethanol production. Sees Q3 Safety & Protection sales to be up modestly reflecting continuing demand by Asia and North America. Sees Q3 Electronics and Communications to have increased global photovoltaic module installations with mid-teens growth rate. Expects strong 2H in PV driven by installations in China. Q3 Electronics and Communications sales are expected to be slightly higher with operating earnings slightly lower. Sees Q3 Performance Materials sales flat due to GLS/Vinyls sale. Sees Q3 Performance Chemicals sales essentially flat. Sees 2H14 Agriculture sales to be modestly higher due to growth in insecticide volumes. Sees a similar Q3 loss as prior year followed by a strong Q4 for Agriculture. Comments taken from slides for Q2 earnings conference call.
07:36 EDTFSLRFirst Solar shares dramatically undervalued, says Brean Capital
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07:17 EDTDDNational Association for Business Economics to hold a seminar
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06:41 EDTDDDuPont up 4.2% after reporting Q2 results, increase in quarterly dividend
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06:07 EDTDDDuPont says Performance Chemicals separation still on track for mid-2015
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06:04 EDTDDDuPont backs FY14 EPS view of $4.00-$4.10, consensus $4.03
DuPont's FY14 EPS guidance is based on expected growth in global industrial market demand.
06:03 EDTDDDuPont sees Q3 EPS $1.25-$1.35, may not compare to consensus 60c
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06:02 EDTDDDuPont reports Q2 EPS $1.17, consensus $1.17
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05:58 EDTDDDuPont raises Q3 dividend by 4% to 47c per share
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July 21, 2014
15:30 EDTDDNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Verizon (VZ), consensus 90c; Coca-Cola (KO), consensus 63c; Comcast (CMCSA), consensus 72c; United Technologies (UTX), consensus $1.70; McDonald's (MCD), consensus $1.44; Altria Group (MO), consensus 66c; du Pont (DD), consensus $1.17; Lockheed Martin (LMT), consensus $2.66; Kimberly-Clark (KMB), consensus $1.50; Travelers (TRV), consensus $2.07; Ingersoll-Rand (IR), consensus $1.11; State Street (STT), consensus $1.26; TD Ameritrade (AMTD), consensus 34c; Harley-Davidson (HOG), consensus $1.46; Polaris Industries (PII), consensus $1.39; Crocs (CROX), consensus 31c.
July 18, 2014
12:48 EDTFSLRSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
07:14 EDTCGBlackstone, KKR, TPG discussing deal collusion suit settlement, Reuters says
Blackstone (BX), KKR (KKR) and TPG Capital are in discussions to settle a U.S. case accusing the firms of conspiring not to outbid one another and other buyout companies on takeovers of firms, according to Reuters, citing two people familiar with the matter. If all three companies settled, the Carlyle Group (CG) would be the only private equity company still up against a trial among 11 firms originally accused of colluding in agreements before the financial crisis occurred. Reference Link
July 16, 2014
16:04 EDTDDPeltz says DuPont a complex business that can be simplified
Peltz says he continues to be in talks with DuPont's management.
July 15, 2014
07:04 EDTFSLRWTO says U.S. tariffs on Chinese solar cells against rules, Xinhua reports
The World Trade Organization yesterday ruled that U.S. tariffs on Chinese solar cells violated the rules of the organization, according to Xinhua. China requested that the WTO probe the subsidies in 2012, the news service noted. The WTO also said that U.S. tariffs on Chinese steel products and paper violated the organization's rules, the news service added. Publicly traded solar energy companies include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE).Reference Link
July 14, 2014
11:16 EDTFSLRWTO finds U.S. violates trade rules with tariffs on Chinese steel, solar panels
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