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Stock Market & Financial Investment News

News Breaks
August 12, 2014
14:21 EDTDE, AGCOWASDE bearish for farm equipment manufacturers, says Wells Fargo
Wells Fargo notes the USDA adjusted its 2014/2015 forecasts in the August WASDE report, resulting in modestly higher ending stocks to use for corn, soybeans, and wheat. The firm believes weakening commodity market fundamentals continue to suggest a relatively prolonged farm equipment demand decline. Wells views the August report as bearish for farm equipment manufacturers and keeps Underperform ratings on Deere (DE) and AGCO (AGCO).
News For DE;AGCO From The Last 14 Days
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July 28, 2015
10:08 EDTAGCOAGCO says FY15 sales down due to softer end markets
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10:06 EDTAGCOAGCO says 2015 production decline is front-end loaded
Expects FY15 production to be down 15%. Sees Q3 production to be down 10%-15%. The company said felt effect of weaker demand and currency headwinds in Q2. In the longer-term, expects trends driving growth in demand for grain storage and protein production. It also expects increases exposure to counter-cyclical protein sector. Targets FY15 free cash flow of $300M after funding CapEx. The second half of the year is seasonally stronger for free cash flow. Expects retail tractor sales outlook to be down 5%-10% for North America, down 20% in South America and down 5%-10% in Western Europe. Comments taken from slides for Q2 earnings conference call.
08:06 EDTAGCOAGCO sees FY15 EPS approx. $3.10, consensus $2.89
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08:05 EDTAGCOAGCO reports Q2 adjusted EPS $1.25, consensus $1.00
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July 27, 2015
10:00 EDTDE, AGCOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Buy from Neutral at Citi... AGCO (AGCO) upgraded to Neutral from Sell at Goldman... Anthem (ANTM) upgraded to Buy from Neutral at Sterne Agee CRT... BNP Paribas (BNPQY) upgraded to Buy from Neutral at Goldman... Biogen (BIIB) upgraded on valuation at Bernstein... Box (BOX) upgraded to Overweight from Sector Weight at Pacific Crest... Capital One (COF) upgraded to Buy from Outperform at CLSA... Centene (CNC) upgraded to Buy from Neutral at UBS... Chesapeake (CHK) upgraded on potential sale of assets or company at SunTrust... Cigna (CI) upgraded to Buy from Neutral at Sterne Agee CRT... Deere (DE) upgraded to Neutral from Sell at Goldman... First BanCorp (FBP) upgraded to Buy from Neutral at Guggenheim... Flotek (FTK) upgraded on stronger demand at Oppenheimer... Lear (LEA) upgraded to Buy from Hold at Deutsche Bank... Methanex (MEOH) upgraded to Outperform from Sector Perform at Scotia Howard Weil... News Corp. (NWSA) upgraded to Outperform from Neutral at Macquarie... NextEra Energy Partners (NEP) upgraded to Outperform at Wells Fargo... OFG Bancorp (OFG) upgraded to Buy from Neutral at Guggenheim... PennyMac Mortgage (PMT) upgraded to Buy from Neutral at Compass Point... Pool Corp. (POOL) upgraded to Outperform from Market Perform at William Blair... Popular (BPOP) upgraded to Buy from Neutral at Guggenheim... Qualcomm (QCOM) upgraded to Overweight from Equal Weight at Morgan Stanley... Quality Systems (QSII) upgraded on valuation at RBC Capital... VF Corp. (VFC) upgraded to Buy from Neutral at Goldman... Ventas (VTR) upgraded on valuation, positive catalysts at BMO Capital... Weatherford (WFT) upgraded to Equal Weight from Underweight at Barclays... SS&C (SSNC) upgraded to Buy from Hold at Sandler O'Neill... Chemung Financial (CHMG) upgraded to Buy from Hold at Sandler O'Neill... Cameron (CAM) upgraded to Buy from Accumulate at Global Hunter.
06:43 EDTAGCOAGCO upgraded to Neutral from Sell at Goldman
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06:43 EDTDEDeere upgraded to Neutral from Sell at Goldman
Goldman upgraded Deere to Neutral based on an improved margin profile. The firm said Deere is benefiting from lower raw material costs and strong ag equipment pricing through the downturn and raised its price target to $94 from $78. Goldman remains negative on the outlook for ad equipment capex given weaker farmer income and peak capital stock.
06:35 EDTAGCOAGCO, Trimble announce collaboration
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July 23, 2015
09:20 EDTDECaterpillar demand trends appear negative for Cummins, Terex, says Wells Fargo
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