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Stock Market & Financial Investment News

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August 12, 2014
20:25 EDTDE, DE, SRLP, SRLP, EPZM, EPZM, CSIQ, CSIQ, AIT, AIT, SEAS, SEAS, IOC, IOC, PF, PF, M, M, NCFT, NCFTNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Deere (DE), consensus $2.20; Macy's (M), consensus 86c; Pinnacle Foods (PF), consensus 33c; InterOil (IOC), consensus 23c; SeaWorld (SEAS), consensus 59c; Applied Industrial (AIT), consensus 75c; Canadian Solar (CSIQ), consensus 58c; Epizyme (EPZM), consensus (50c); Sprague Resources (SRLP), consensus 2c; Norcraft Companies (NCFT), consensus 27c.
News For DE;M;PF;IOC;SEAS;AIT;CSIQ;EPZM;SRLP;NCFT From The Last 14 Days
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July 27, 2015
09:17 EDTCSIQCanadian Solar identified as top solar pick at Roth Capital
Roth Capital identifies Canadian solar as a top pick in the solar space, citing its leading position among peers this cycle in transforming its business model to focus on downstream and the companyís limited exposure to China. The firm keeps a Buy rating on the shares.
07:06 EDTCSIQCanadian Solar completes Grand Renewable Solar Project
Canadian Solar announced that its wholly owned subsidiary, Canadian Solar Solutions Inc., reached substantial completion on its 100 MW AC utility-scale Grand Renewable Solar Project. This project, located in the county of Haldimand, consists of approximately 445,000 CS6X MaxPower high-performance Ontario-made modules, and carries the proud distinction of being the largest operational solar farm in the nation.
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.
July 24, 2015
11:01 EDTCSIQSolarCity rises after analyst says second half outlook strong
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10:00 EDTMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abaxis (ABAX) downgraded to Hold from Buy at Canaccord... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at Dougherty... CF Industries (CF) downgraded on nitrogen outlook at RBC Capital... Capital One (COF) downgraded to Neutral from Overweight at JPMorgan... Cepheid (CPHD) downgraded to Sell from Hold at Evercore ISI... Constant Contact (CTCT) downgraded to Neutral from Outperform at Baird... Equifax (EFX) downgraded to Neutral from Outperform at Baird... Hannover Re (HVRRY) downgraded to Underweight from Neutral at JPMorgan... IAMGOLD (IAG) downgraded to Underperform from Market Perform at Raymond James... MSA Safety (MSA) downgraded to Neutral from Accumulate at Global Hunter... MTU Aero (MTUAY) downgraded to Underperform from Buy at BofA/Merrill... Macy's (M) downgraded to Underweight from Neutral at Atlantic Equities... Sunesis (SNSS) downgraded to Hold from Buy at Cantor... Superior Drilling (SDPI) downgraded to Hold from Buy at Wunderlich... TrueCar (TRUE) downgraded to Equal Weight from Overweight at Stephens... United Rentals (URI) downgraded to Outperform from Top Pick at RBC Capital... WESCO (WCC) downgraded to Equal Weight from Overweight at Stephens.
06:45 EDTMMacy's downgraded to Underweight from Neutral at Atlantic Equities
Atlantic Equities analyst Danlela Nedlalkova downgraded Macy's to Underweight with a $64 price target based on expectations of weaker topline trends. Nedlalkova said recent industry commentary and data and global tourist spending decline will likely weigh on Q2 results. The analyst believes annual comp guidance of 2% is likely optimistic with Q1 comps at (0.1%) and expectations for about a flat comp in Q2, indicating 2H comps need to accelerate to 3%-4% to meet guidance. Nedlalkova said shares have been supported by speculation of real estate monetization, but with shares at historic levels, the analyst expects weaker operating results to pressure the stock.
July 23, 2015
09:20 EDTDECaterpillar demand trends appear negative for Cummins, Terex, says Wells Fargo
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July 22, 2015
16:24 EDTIOCPoint72 Asset Management reports 6.3% passive stake in InterOil
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08:38 EDTMNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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July 21, 2015
10:01 EDTAITOn The Fly: Analyst Initiation Summary
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08:49 EDTIOCInterOil 4.8M share Block Trade priced at $42.00
Morgan Stanley acted as sole book running manager for the offering. Go to The Fly's Syndicate section to see all deal analysis.
07:16 EDTCSIQCanadian Solar announces construction, financing loan from Manulife
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July 20, 2015
16:29 EDTAITApplied Industrial initiated with a Sector Weight at KeyBanc
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13:46 EDTMAmazon seen eclipsing Macy's as top U.S. clothing retailer
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10:00 EDTEPZMOn The Fly: Analyst Downgrade Summary
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08:08 EDTMMacy's price target to $78 on likelihood of a REIT transaction at BofA/Merrill
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07:16 EDTEPZMEpizyme downgraded to Neutral from Buy at H.C. Wainwright
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07:03 EDTCSIQCanadian Solar completes grid connection of three solar power plants in Japan
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July 19, 2015
18:13 EDTMMacy's considered, rejected sale/lease-backs in past, WSJ says
Macy's (M) executives have considered sale/lease-backs "over the years" and have come to negative conclusions, reports the Wall Street Journal, citing people familiar with the company. The report comes in the wake of Starboard Value pressuring Macy's to spin off its real estate, and sources said the activist investor sees several options, including a REIT, a Hudsonís Bayís-style real estate partnership, a sale/lease-back, or borrowing money against the properties. Separately, a source said Target (T) is still reluctant to relinquish control over its real estate. Reference Link
July 17, 2015
16:41 EDTMStocks end week higher as Google, Greece bring out the buyers
Stocks ended the week higher and the major averages are back at record highs after Iran agreed to a nuclear deal, Greece's parliament paved the way for the country to receive another bailout by agreeing to new austerity measures and Google (GOOG) gave investors hope that earnings from tech's other heavyweights will be similarly better than expected. MACRO NEWS: In the U.S., retail sales unexpectedly fell 0.3% in June, versus the consensus forecast for growth of 0.3%. The producer prices index showed prices rose 0.4% in June, versus expectations for an increase of 0.2%. The consumer price index rose a seasonally adjusted 0.3% in June from a month earlier, matching the consensus forecast. Compared with last year, consumer prices rose 0.1%, marking the first annual increase since December. Housing starts rose 9.8% to a 1.17M rate in June and building permits rose 7.4% to a 1.34M pace, both of which topped expectations. The NAHB homebuilder sentiment index for July came in at 60, a point better than forecast. The University of Michigan's consumer sentiment reading dropped to 93.3 in the preliminary July figure, which was below the 96.0 reading that was expected. During testimony before Congress, Federal Reserve Chair Janet Yellen stayed on message, stating that the central bank is on track to raise record-low interest rates this year, so long as the labor market and the economy keep improving... In China, exports rose 2.1% from a year earlier during June and imports dropped 6.7%, leaving a trade surplus of $45.8B for the month, the nation's customs administration reported. The nation's GDP was reported to have grown 7% in the second quarter from a year earlier, beating the consensus expectation for growth of 6.8%... In Europe, Greek lawmakers passed the country's austerity agreement and Euro-area finance ministers reportedly agreed in principle to extend a bridge loan to Greece. The loan should help keep Greece afloat while its Prime Minister negotiates the details of the country's latest bailout... Iran reached a deal on restrictions and inspections intended to prevent it from developing nuclear weapons in exchange for the lifting of economic sanctions by six world powers. The agreement still faces a political fight in the U.S. before taking effect, but President Barack Obama has vowed to veto any congressional effort to block its implementation. COMPANY NEWS: Class A shares of Google (GOOG, GOOGL) surged at the end of the week after the search giant reported better than expected revenues and earnings in the second quarter. Research firms all over Wall Street raised their price targets on the stock in the wake of the report... Netflix (NFLX) rallied to a split-adjusted all-time high after the streaming service operator reported stronger than expected second quarter results, including higher than expected Q2 subscriber metrics, prompting a large number of research firms to raise their price targets on the stock... Many of the nation's largest banks reported on their results in the second quarter this week. JPMorgan (JPM), Bank of America (BAC) and Citigroup (C) all posted quarterly profits, excluding certain items, that beat the average estimates of analysts. Wells Fargo (WFC) reported earnings in-line with consensus estimates and revenue somewhat below expectations, while Goldman Sachs (GS) reported headline earnings that appeared to fall far short of the consensus forecast. However, that was due to Goldman's nearly $1.5B in provisions for litigation and regulatory matters. Excluding those provisions, the bank's earnings were ahead of consensus... On the M&A front, Receptos (RCPT) advanced after Celgene (CELG) announced a deal to buy the smaller drugmaker for $232 per share in cash, or a total of about $7.2B net of cash acquired. A number of research firms applauded the deal, especially noting the price Celgene agreed to pay, but cautioned that a rival bidder may still emerge for Receptos. Marathon Petroleum (MPC) gained after MPLX (MPLX), the company's fee-based master limited partnership, agreed to acquire MarkWest Energy (MWE) in a cash and stock deal that implies a total enterprise value for MarkWest of approximately $20B, including the assumption of debt of approximately $4.2B. Micron (MU) rose after The Wall Street Journal reported that China's state-owned Tsinghua Unigroup had offered to acquire the memory chip maker for $23B, or $21 per share... Shares of Twitter (TWTR) spiked Tuesday morning after a questionable takeover report was published on a website that mimicked, but had a different web address, than Bloomberg News. A Bloomberg spokesman said soon afterward that the Twitter takeover story being attributed to the news service was a fake, while a Twitter spokesperson also denied the report of an alleged deal... Macy's (M) jumped after Starboard CEO Jeffrey Smith called the stock his "best idea" for 2015, adding that the shares could be worth $125 each if the company takes steps to maximize the value of its real estate holdings. Amazon (AMZN) announced it sold more units on its first "Prime Day" than the biggest Black Friday ever and had more new members try its Prime service worldwide than any single day in company history. The e-commerce giant noted that its worldwide order growth increased 266% over the same day last year and 18% more than Black Friday 2014, adding that it will "definitely be" doing another Prime Day in the future. A number of semiconductor equipment stocks, including Applied Materials (AMAT) and Lam Research (LRCX), dropped after Intel (INTC) cut its capital expenditures guidance while reporting on its quarterly results. INDEXES: For the week, the Dow gained about 1.05% to close at 18,086.45, the Nasdaq advanced about 3.37% to close at 5,210.14, and the S&P 500 rose about 1.67% to close at 2,126.64.
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