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Stock Market & Financial Investment News

News Breaks
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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December 12, 2014
10:35 EDTSEASSeaWorld CEO exit sparks talk of Busch Gardens split
Shares of theme park operator SeaWorld (SEAS) climbed in early trading, but have since given up their gains, following the departure of the company's CEO and president, Jim Atchison. Research firm FBR Capital suggested that the company could be split into two parts. According to the firm, SeaWorld's stock could eventually be worth about double its present value if the company does decide to pursue a break-up. WHAT'S NEW: After SeaWorld announced last night that its current CEO would step down from the position as of January 15 and be replaced on an interim basis by its chairman, FBR Capital analyst Barton Crockett wrote that a split up of the company "looks compelling." Specifically, SeaWorld could split its SeaWorld parks off from the other parks it owns, including Busch Gardens and Sesame Place, the analyst stated. In such a scenario, the other parks could be seen as an eventual takeover target for theme park operators Six Flags (SIX) and Cedar Fair (FUN), although an acquisition would not take place for two years due to tax issues, Crockett stated. Following a split, truncated SeaWorld should be valued at $4 per share, while the other parks could trade at $12 per share, the analyst stated. However, the spun off SeaWorld shares could eventually rebound to $17 if its initiatives to revitalize its weak attendance bear fruit or if it turns itself into a REIT, Crockett stated. Under the scenario outlined by Crockett, SeaWorld's stock, currently trading at about $16.60, could be worth $29. Additionally, split off SeaWorld could be taken private a few years later at a 30% premium, Crockett believes. While the analyst does not think the board wants to split the company, he says that the CEO vacancy could spark greater interest in the idea among investors, or CEO candidates could embrace the concept. Crockett kept a $20 price target and Outperform rating on SeaWorld. WHAT'S NOTABLE: SeaWorld's CEO change is likely to be viewed positively by investors, given the challenges faced by the company, Wells Fargo analyst Timothy Conder wrote in his own note to investors today. However, the analyst thinks the company lacks fundamental catalysts through the first half of next year and is facing difficult comparisons. He kept a Market Perform rating on the shares. PRICE ACTION: In early trading, SeaWorld fell 4c, or 0.25%, to $16.06.
08:42 EDTCSIQCanadian Solar has reached attractive entry point, says Roth Capital
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08:41 EDTSEASSeaWorld CEO change could drive split interest, says FBR Capital
FBR Capital believes shares of SeaWorld could be worth up to $29 if the company were to spin off Busch Gardens into a separate public entity. FBR says the potential upside looks "compelling," but admits it does not think the board wants to split. However, it believes the CEO transition could spark greater investor interest in the idea. FBR keeps an Outperform rating on SeaWorld after the company announced that Jim Atchison is stepping down as CEO. It has a $20 price target for shares.
06:03 EDTSEASSeaWorld says new restructuring program to include job cuts
SeaWorld said last night that it continues to advance its previously announced company-wide cost initiative, including its plan to deliver approximately $50M of annual cost savings by the end of 2015. As part of that plan, the company announced a restructuring program across its entire 11-park enterprise. "This effort will centralize some operations, reduce duplication of functions and increase efficiencies and accelerate execution. The restructuring will result in the loss of some positions, and the Company will offer severance benefits to those impacted," SeaWorld said.
December 11, 2014
18:14 EDTSEASOn The Fly: After Hours Movers
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16:05 EDTSEASSeaWorld names David D'Alessandro as Interim CEO
SeaWorld announced that, effective January 15, 2015, Chairman David F. D'Alessandro will serve as the company's interim CEO until the board selects a permanent successor to current CEO and president, Jim Atchison, who will become vice chairman of the board. D'Alessandro, who has been chairman of the company's board since 2010, will continue in that position. In addition, Atchison will serve as a consultant to the company with respect to international expansion and the company's conservation initiatives. The company will also nominate Atchison to serve as the chairman of the board of the not-for-profit, independent SeaWorld & Busch Gardens Conservation Fund. The board, which expects to complete the search in six to nine months, has engaged an executive search firm to assist in the search for Atchison's successor.
09:17 EDTSEASSeaWorld valuation compelling, says Credit Suisse
Credit Suisse said it remains comfortable with its Buy rating and $23 price target ton SeaWorld following a visit to Orlando. The analyst expects management cost cutting efforts to be implemented near-term and for the company to benefit from an improving consumer backdrop and rising industry fundamentals.
07:24 EDTIOCInterOil announces discovery at Bobcat-1 well in Papua New Guinea
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December 10, 2014
20:02 EDTDEDeere reports November U.S./Canada utility tractor sales down 'a single digit'
Deere reports its U.S./Canada utility tractor sales were down "a single digit," while the industry rose 8% in November. Deere reports its U.S./Canada row-crop tractor retail sales were down more than the industry, which was down 29% in the month. Deere's U.S./Canada 4WD tractor retail sales were down more than the industry, which was down 45% in the month. In November, Deere's U.S./Canada combines retail sales were down double digits, but less than the industry, which was down 50%. Information from Deere's retail sales comment for November posted to company's investor relations website. Reference Link
13:53 EDTDEUSDA data still negative for Ag equipment makers, says Wells Fargo
Wells Fargo estimates USDA data for December indicates row crop cash flow will drop 21% from the prior year, which is consistent with November and still negative for farm equipment demand. The firm keeps its negative view on demand trends for farm equipment makers Deere (DE) and AGCO (AGCO). The firm maintains its Underperform rating on AGCO and Market Perform rating on Deere.
December 9, 2014
10:23 EDTMOn The Fly: Analyst Downgrade Summary
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08:14 EDTMMacy's downgraded at Atlantic Equities
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08:06 EDTMMacy's downgraded to Neutral from Overweight at Atlantic Equities
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December 8, 2014
16:40 EDTSRLPSprague Resources acquires Castle Oil Port Morris Terminal in Bronx, NY
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16:38 EDTSRLPSprague Resources raises FY14 adjusted EBITDA view to $80M-$90M
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13:32 EDTEPZMEpizyme announces results for PRMT5 inhibitor
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09:04 EDTCSIQCanadian Solar management to meet with JPMorgan
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08:23 EDTSEASCredit Suisse to hold a field trip
Timeshare & Theme Park Trip travels throughout Orlando, Florida on December 8.
06:06 EDTCSIQSharp could sell U.S. solar unit to Canadian Solar, Nikkei reports
Sharp (SHCAY) will reportedly sell its U.S.-based solar energy development unit Recurrent Energy to Canadian Solar (CSIQ) for about $250M, The Nikkei said yesterday. Sharp aims to reach a basic agreement Canadian Solar by the end of the month and complete the sale by spring, the report indicated. Reference Link
December 7, 2014
14:23 EDTEPZMEpizyme to hold a luncheon discussion
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