|February 22, 2012|
|17:00 EDT||ATRI, HSTM, GRMN, CETV, MGM, CHS, FIRE, TOL, DELL||On The Fly: Closing Wrap|
Stocks on Wall Street were lower, as the market took a breather from its steady move higher so far this year. The open was slightly lower following a weak pre-market session by the futures. The weakness was attributed to concerns over whether Greece could adhere to its austerity measures over the medium term, as well as disappointing manufacturing data from Europe and China. The market moved to its lowest levels of the session near mid-day, following statements by the Obama administration that corporate tax rates would be reduced but that interest would be taxed as ordinary income. The market quickly found a level where it sat for a couple of hours before moving back towards the flat line. There was little in the way of catalysts to move the buyers off the sidelines, as the domestic economic calendar remained quiet and there were few headlines of note from Europe... ECONOMIC EVENTS: Domestically, existing home sales rose by 4.3% in January, but the prior month's growth rate was revised lower. The resulting annual sales rate of 4.57M homes sold was down slightly from the annual rate of 4.61M reported a month ago. Also of note was a proposal from the Obama administration to cut the maximum U.S. corporate tax rate to 28% from 35% while eliminating many existing tax loopholes. Internationally, a euro zone composite PMI and a separate Chinese PMI reading both came in at 49.7, indicating contraction... MARKET NEWS: Dell (DELL) fell about 6% in heavy trading as it was downgraded to Neutral from Buy at Citigroup following its Q4 report. Citi cited weakening prospects for additional margin expansion and lowered its price target in the name to $19 from $20... Among others reporting earnings, winners included Chico's FAS (CHS) and Garmin (GRMN); losers included Toll Brothers (TOL) and MGM Resorts (MGM)... MAJOR MOVERS: Notable gainers included Healthstream (HSTM), up $5.21, or 30.05%, to $22.55, and SourceFire (FIRE), up $9.36, or 26.13%, to $45.18, following their earnings reports. Noteworthy losers included Central Euro Media (CETV), down $1.55, or 18.24%, to $6.95, and Newfield Exploration (NFX), down $5.37, or 12.71%, to $36.88, after disappointing quarterly results... INDICES: The Dow fell 27.02, or 0.21%, to 12,938.67; the Nasdaq slid 15.40, or 0.52%, to 2,933.17; and the S&P 500 dropped 4.55, or 0.33%, to 1,357.66.
News For DELL;CHS;GRMN;TOL;MGM;HSTM;FIRE;CETV;ATRI From The Last 14 Days
|February 5, 2016|
|09:34 EDT||GRMN||Garmin estimates lowered at Cleveland Research|
Cleveland Research lowered Garmin's 2016 revenue estimates to down 3% year-over-year, versus consensus of a decline of 1%, due to increased concerns regarding competition and a worsening outlook.
|February 2, 2016|
|06:48 EDT||MGM||MGM Resorts setup favorable after underperformance, says Deutsche Bank|
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|February 1, 2016|
|09:36 EDT||MGM||Active equity options trading on open|
Active equity options trading on open: BAC AAPL FB AMZN TWTR MGM MCD NFLX GILD INTC TSLA AA BABA C
|06:52 EDT||MGM||Macau reports January casino revenue down 21.4% to 18.67B patacas|
Macau's gaming bureau reported January casino revenue in the region fell 21.4% to 18.67B patacas. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN), and Melco Crown (MPEL).
|January 29, 2016|
|09:35 EDT||MGM||Nevada reports Statewide December gaming win up 3.31% to $982.06M|
The state also reports Las Vegas Strip December gaming win up 8.2% compared to last year at $600.75M compared to last year. Publicly traded companies in the space include Boyd Gaming (BYD), Caesars (CZR), Las Vegas Sands (LVS), MGM Resorts (MGM), Penn National (PENN) and Wynn Resorts (WYNN).
|January 27, 2016|
|19:30 EDT||MGM||On The Fly: After Hours Movers |
UP AFTER EARNINGS: Facebook (FB), up 11.4%... Mellanox (MLNX), up 6.4%... Paypal (PYPL), up 5%... Crown Castle (CCI), up 2.2%... Citrix (CTXS), up 2.4%... Las Vegas Sands (LVS), up 1%... SanDisk (SNDK), up 1%. ALSO HIGHER: Radius Health (RDUS), up 1.2% after announcing a clinical collaboration with Novartis (NVS)... LinkedIn (LNKD) is up 2.4%, Alphabet (GOOG, GOOGL) is up 2.2% and 2.6%, respectively, Netflix (NFLX) is up 1%, Amazon.com (AMZN) is up 2%, and Twitter (TWTR) is up marginally after Facebook reported quarterly results... MGM Resorts (MGM) is up 2.2% and Wynn Resorts (WYNN) is up 2.2%. DOWN AFTER EARNINGS: ServiceNow (NOW), down 16.5%... eBay (EBAY), down 12.8%... United Rentals (URI), down 9.7%... Juniper Networks (JNPR), down 9.6%... Silicon Graphics (SGI), down 9.1%... Discover Financial (DFS), down 7.4%... InvenSense (INVN), down 6.1%... Core Laboratories (CLB), down 4.3%... Vertex Pharmaceuticals (VRTX), down 1.1%. ALSO LOWER: Incyte (INCY), down 12.8% after announcing that it will halt the Phase 2 sub-study of ruxolitinib or placebo in combination with regorafenib after a planned interim analysis of the high CRP subgroup demonstrated that ruxolitinib plus regorafenib did not show a sufficient level of efficacy to warrant continuation.
|19:17 EDT||MGM||Macau-linked casino names climb after Las Vegas Sands posts quarterly results|
Casino stocks with exposure to Macau are higher in after-hours trading after Las Vegas Sands reported fourth quarter sales and profit. WHAT'S NEW: Las Vegas Sands reported Q4 adjusted earnings per share of 62c and hold-normalized adjusted EPS of 64c, against analyst estimates of 65c, and Q4 revenue of $2.86B, below consensus expectations of $2.92B. The company reported Four Seasons Macau adjusted property Earnings Before Income Tax, Depreciation, and Amortization, or EBITDA, was down 29% to $65.8M in Q4, while Sands Macau Q4 adjusted property EBITDA was $51.3M. In Singapore, the Marina Bay Sands adjusted property EBITDA was $338.2M, and on a hold-normalized basis, adjusted property EBITDA was $374.8M. WHAT'S NOTABLE: Las Vegas Sands also increased its quarterly dividend to 72c per share from 65c per share. During the company's earnings conference call, CEO Sheldon Adelson said management has "steadfast confidence" in both the company and Macau's future. Adelson added that the company is optimistic in returning excess capital to shareholders through share repurchases and dividends. PRICE ACTION: Shares of Las Vegas Sands are higher by roughly 1% to $42.00 in after-hours trading. OTHERS TO WATCH: Following Las Vegas Sands' Q4 results, Wynn Resorts (WYNN) is up 2.44% and MGM Resorts (MGM) is up 2.21%.
|January 25, 2016|
|10:00 EDT||TOL||On The Fly: Analyst Downgrade Summary|
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
|10:00 EDT||TOL||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: American Express (AXP) upgraded to Perform from Underperform at Oppenheimer... BankMutual (BKMU) upgraded to Outperform from Market Perform at Hovde Group... Black Hills (BKH) upgraded on acquisition at BMO Capital... Bruker (BRKR) upgraded to Buy from Hold at Cantor... Cedar Fair (FUN) upgraded to Conviction Buy from Buy at Goldman... Charles Schwab (SCHW) upgraded to Buy from Neutral at Nomura... Corporate Office Properties (OFC) upgraded to Buy from Neutral at Mizuho... Entegris (ENTG) upgraded on valuation, outlook at Pacific Crest... First Financial upgraded to Outperform from Market Perform at Keefe Bruyette... Goldman Sachs (GS) upgraded to Buy from Neutral at Nomura... Graphic Packaging (GPK) upgraded to Outperform from Neutral at Macquarie... Home Depot (HD) upgraded to Buy from Hold at Deutsche Bank... Intel (INTC) upgraded to Outperform from Neutral at Macquarie... J.B. Hunt (JBHT) upgraded to Buy from Hold at BB&T... Magna (MGA) upgraded to Buy from Neutral at Citi... Masco (MAS) upgraded to Buy from Hold at Evercore ISI... Mattel (MAT) upgraded to Conviction Buy from Buy at Goldman... O'Reilly Automotive (ORLY) upgraded to Buy from Hold at Deutsche Bank... PACCAR (PCAR) upgraded to Buy from Neutral at Citi... People's United (PBCT) upgraded to Neutral from Underweight at Piper Jaffray... Quality Systems (QSII) upgraded to Overweight from Neutral at Piper Jaffray... RadiSys (RSYS) upgraded to Buy from Hold at Needham... Standard Motor (SMP) upgraded to Buy from Neutral at CL King... Swedbank (SWDBY) upgraded to Hold from Underperform at Jefferies... Toll Brothers (TOL) upgraded to Strong Buy from Outperform at Raymond James... Voyager Therapeutics (VYGR) upgraded to Neutral from Sell at Chardan... Yahoo (YHOO) upgraded to Buy from Hold at Pivotal Research.
|08:00 EDT||TOL||Toll Brothers upgraded to Strong Buy on valuation at Raymond James|
As previously reported, Raymond James upgraded Toll Brothers to Strong Buy from Outperform and maintained its $40 price target. The firm upgraded shares citing valuation and believes the recent sell-off is an overreaction to some softening in high-end New York condos and Houston suburbs, combined with recent volatility.
|06:58 EDT||TOL||Toll Brothers upgraded to Strong Buy from Outperform at Raymond James|
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|06:05 EDT||TOL||Toll Brothers downgraded to Market Perform from Outperform at JMP Securities|