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Stock Market & Financial Investment News

News Breaks
December 7, 2012
10:05 EDTBBBY, USB, WFC, SSYS, MPC, MPLX, LEN, ABCO, PNC, ORCL, ONNN, JPM, ATML, ALXN, BAC, C, CEB, FIS, GS, FISV, DDDOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with a Buy at BB&T... Alexion (ALXN) initiated with a Neutral at Citigroup... Atmel (ATML) initiated with a Neutral at Lazard Capital... Bank of America (BAC) initiated with a Neutral at SunTrust... Capital One (COF) initiated with a Buy at Janney Capital... Citigroup (C) initiated with a Buy at SunTrust... Corporate Executive Board (CEB) initiated with a Buy at Janney Capital... Danaher (DHR) initiated with an Outperform at BMO Capital... FIS (FIS) initiated with a Hold at Jefferies... Fiserv (FISV) initiated with a Buy at Jefferies... Goldman Sachs (GS) initiated with a Neutral at SunTrust... JPMorgan (JPM) initiated with a Buy at SunTrust... Microchip (MCHP) initiated with a Buy at Needham... ON Semiconductor (ONNN) initiated with a Neutral at Lazard Capital... Oracle (ORCL) initiated with a Neutral at Wedbush... PNC Financial (PNC) initiated with a Buy at SunTrust... Stratasys (SSYS) initiated with a Buy at BB&T... The Advisory Board (ABCO) initiated with a Buy at Janney Capital... U.S. Bancorp (USB) initiated with a Neutral at SunTrust... Wells Fargo (WFC) initiated with a Neutral at SunTrust... Marathon Petroleum (MPC) initiated with a Neutral at JPMorgan... MPLX (MPLX) initiated with an Overweight at JPMorgan... Lennar (LEN) initiated with a Hold at Topeka... Bed Bath & Beyond (BBBY) initiated with a Buy at Standpoint Research.
News For DDD;ATML;ALXN;BAC;C;CEB;FIS;GS;FISV;JPM;ONNN;ORCL;PNC;ABCO;USB;WFC;SSYS;MPC;MPLX;LEN;BBBY From The Last 14 Days
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September 18, 2014
14:54 EDTORCLOracle technical comments ahead of results
In the past three months the stock has underperformed, falling by over 3%. The trading in shares has been relatively volatile, but within a narrow range largely contained by $40 at the low and $42 at the high. If the news is stronger than expected, particularly where outlook is concerned, there could be a run to the 52-week high at $43.19. That high is very close to the life highs for the shares at $46.18. We could see a range open up between the 52-week high and the life high if news exceeds expectations. If the news fails to meet investor expectations, a test down to the $40 area would appear very likely. A break below $40 would see next support at $38.34 and then at $37.08. The stock can be volatile around earnings, but gaps tend to be relatively small unless estimates are broken in extreme fashion, in either direction.
14:49 EDTABCOThe Advisory Board management to meet with Craig-Hallum
Meeting to be held in Milwaukee on September 24 hosted by Craig-Hallum.
14:08 EDTGS, WFC, BAC, C, USB, JPMBanks look to high-interest personal loans to boost revenue, WSJ says
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12:58 EDTORCLEarnings Preview: Morgan Stanley views Oracle's Q1, Q2 estimates as 'achievable'
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10:40 EDTBBBYPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
05:31 EDTJPMVisa to undertake assessment of stake in Monitise
Visa (V) and Monitise entered into an alliance agreement in 2009. At the same time, Visa began investing in Monitise. Given the maturation of Monitise as a company, Visa is considering its options with respect to the investment and has engaged J.P. Morgan Securities (JPM) to assist. Visa will also be lessening its dependence on external mobile development resources. In 2009, in conjunction with its commercial partnership, Visa invested in Monitise as a 14.4% owner of the company in order to provide capital support to a leader in the evolution of the mobile payments sector. Over time, Visa’s holdings have been reduced to its current 5.5% stake in the company. This reduction in ownership and associated influence is consistent with Visa’s investment practice to seed emerging players and, over time, taper that influence as the partner company grows. Under their agreement, Monitise will provide Visa with mobile platform development services through 2016. As both Visa and the payments industry evolve at a rapid pace, Visa intends to continue increasing its investment in its own in-house capabilities and, as a result, reducing its use of external resources.
September 17, 2014
16:00 EDTBACOptions Update; September 17, 2014
iPath S&P 500 VIX Short-Term Futures down 24c to 27.63. Option volume leaders: AAPL TSLA BAC TWTR AMZN X WLT KO PBR according to Track Data.
13:51 EDTJPMJPMorgan to replace some credit cards following Home Depot breach, Reuters says
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13:28 EDTWFCWells Fargo eases lending requirements for buying apartments, Financial Times says
Wells Fargo (WFC) is easing lending requirements for apartment purchases, reports the Financial Times. In an interview, the head of Wells Fargo mortgage production Franklin Codel said, “We’re tweaking our condo approvals to make them more consistent with what Fannie Mae (FNMA) and Freddie Mac (FMCC) allow." Reference Link
13:16 EDTWFC, C, USB, GS, JPM, BACHolder says DOJ looking to charge bank executives, Washington Post says
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12:22 EDTLENOn The Fly: Midday Wrap
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11:43 EDTLENLennar sees Q4 gross margins 25%
Says has $5B apartment pipeline. Says sees 600-625 communities at end of year. Still sees 2,100-2,200 homes for 2014. Says doesn't expect to sell more apartments this year. Says "deep in the midst" of investment cycle. Says would consider dividends, buybacks, will keep investing capital for "a couple of years."
11:18 EDTLENLennar says slow housing recovery 'healthy' for company
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09:50 EDTBBBYBed Bath & Beyond 2H guidance appears optimistic, says Cleveland Research
Cleveland Research checks indicate Bed Bath & Beyond Q2 sales trends remain flattish to up 1%, similar to Q1. The firm believes 2H guidance is too optimistic, especially for FY comps of +3%. The analyst remains cautious on shares and expect margin pressures to continue. Shares are Neutral rated.
08:19 EDTWFCNational Press Club holds a luncheon meeting
Wells Fargo & Co. CEO John Stumpf discusses the role of financial services in the real economy at a National Press Club luncheon meeting being held in Washington, D.C. on September 17 at 1 pm. Webcast Link
07:37 EDTJPMMorningstar to hold a conference
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07:34 EDTALXNAlexion names Hallal COO, Carmichael Chief Human Resources Officer
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07:33 EDTALXNAlexion names Hallal COO, Carmichael Chief Human Resources Officer
06:54 EDTBAC, JPMNY Attorney General announces NYC bank identity-theft ring takedown
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06:07 EDTLENLennar reports Q3 EPS 78c, consensus 67c
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