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Stock Market & Financial Investment News

News Breaks
February 14, 2013
10:03 EDTDELL, ROK, NVDA, DNDN, HNZ, CLF, CTL, FTI, END, TRIP, TWC, MDT, PGR, ITRI, H, ETR, DAL, LMTOn the Fly: Analyst Downgrade Summary
Today’s noteworthy downgrades include: Dell (DELL) downgraded to Hold from Buy at Brean Capital... Delta Air Lines (DAL) downgraded to Underweight from Equal Weight at Evercore... Entergy (ETR) downgraded to Sell from Neutral at UBS... Hyatt Hotels (H) downgraded to Market Perform from Outperform at FBR Capital... Itron (ITRI) downgraded to Hold from Buy at Brean Capital... Medtronic (MDT) downgraded to Neutral from Buy at Lazard Capital... Progressive (PGR) downgraded to Equal Weight from Overweight at Barclays... Time Warner Cable (TWC) downgraded to Sector Perform from Outperform at RBC Capital... TripAdvisor (TRIP) downgraded to Equal Weight from Overweight at Morgan Stanley... Endeavour (END) downgraded to Sell from Buy at Wunderlich... FMC Technologies (FTI) downgraded to Hold from Buy at Societe Generale... CenturyLink (CTL) downgraded to Neutral from Buy at Citigroup... Cliffs Natural (CLF) downgraded to Fair Value from Buy at CRT Capital... Heinz (HNZ) downgraded to Hold from Buy at Deutsche Bank... Dendreon (DNDN) downgraded to Sell from Hold at Maxim... NVIDIA (NVDA) downgraded to Hold from Buy at Needham... Rockwell Automation (ROK) downgraded to Market Perform from Outperform at Bernstein... Lockheed Martin (LMT) downgraded to Neutral from Outperform at Cowen.
News For DELL;DAL;ETR;H;ITRI;PGR;MDT;TWC;TRIP;END;FTI;CTL;CLF;HNZ;DNDN;NVDA;ROK;LMT From The Last 14 Days
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July 11, 2014
08:04 EDTNVDANVIDIA management to meet with UBS
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06:10 EDTTRIPJPMorgan expects solid Q2 results in Internet space
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July 10, 2014
18:02 EDTCTLWells sees 'shrinking list' of strategic buyers for Rackspace
Wells Fargo sees a "shrinking list" of potential buyers for Rackspace (RAX), with only remaining HP (HPQ) and CenturyLink (CTL) remaining in its opinion. Wells believes Rackspace going private through a leveraged buyout is a possibility, but it thinks such an outcome is a lower probability given the required return assumptions and implied exit multiple. The firm believes the market has correctly assumed a high probability that Rackspace will not undergo a strategic event. However, Wells thinks the potential for a value creating event limits downside in the name. It keeps an Outperform rating on the stock.
13:58 EDTLMTPentagon says F-35 fire may have been isolated incident, The Hill says
A fire on an F-35 Joint Strike Fighter plane may have been an isolated incident, and not indicative of a systemic problem, the Pentagon’s chief weapons buyer told lawmakers today, according to The Hill. The Pentagon has grounded the planes, which are made by Lockheed Martin (LMT) and United Technologies (UTX). Reference Link
12:23 EDTCLFCasblanca Capital condemns Cliffs Natural's compensation practices in letter
Casablanca Capital LP, the beneficial owner of approximately 5.2% of Cliffs Natural Resources, issued a letter to shareholders in connection with Casablanca’s campaign for fundamental change at Cliffs and its nomination of six director candidates for election to the Board of Directors at the company’s upcoming 2014 Annual Meeting of Shareholders on July 29. In the letter, Casablanca details escalating management compensation while shareholder returns have plummeted, the opaque nature of the management bonus and review process, and the ways in which bonus compensation metrics have changed from year to year in an apparent effort by the Cliffs Board to justify management bonuses despite severe underperformance. Casablanca reiterates that, in contrast to the current 0.3% of Cliffs shares that the current Board and management team owns, Casablanca has economically aligned itself with the interests of fellow shareholders, with Casablanca owning 5.2% of Cliffs shares and with Lourenco Goncalves’ personal investment of $1.5M in Cliffs’ shares. Donald Drapkin, Chairman of Casablanca said, “The Cliffs Board and management team have been pursuing their own personal agendas and enrichment at the expense of shareholders for far too long. It is time for the gravy train to end and for the Board to be held accountable. We are confident that on July 29 Cliffs’ shareholders will vote to support a slate of new directors who will reverse the outrageous value destruction and stop the pattern of excessive compensation and self-dealing at Cliffs.”
11:04 EDTPGRProgressive June results miss expectations, says Wells Fargo
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10:58 EDTPGRProgressive reports Q2 EPS with gains 49c, consensus 48c
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09:02 EDTCTLCenturyLink wins 10-year NH colocation contract
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08:51 EDTTRIPTripAdvisor volatility increases into Q2 and revenue outlook
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08:35 EDTCLFBofA/Merrill steel analysts hold an analyst/industry conference call
Global Steel Analysts review market conditions in Asia, Europe and the U.S. and discuss recent price moves in iron ore, met coal and global steel on an Analyst/Industry conference call. Covered companies AKS, ATI, CLF, CMC, GGB, MTL, NUE, RS, SCHN, SID, STLD, TX and X may be discussed on the Analyst/Industry conference call to be held on July 14 at 10 am.
08:18 EDTPGRProgressive reports June net premiums written up 4% to $1.38B
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08:12 EDTLMTPratt & Whitney, U.S. government close to $2B engine deal, WSJ reports
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08:02 EDTMDTCryoLife appoints Pat Mackin as President and CEO effective September 2
Mackin is expected to be appointed to the company's board after his employment begins. Steven Anderson will continue to serve CryoLife (CRY) as its President and Chief Executive Officer until Mackin's employment begins and then continue as its Executive Chairman. Mackin joins CryoLife from Medtronic (MDT), where he most recently served as President of Cardiac Rhythm Disease Management.
07:57 EDTNVDANVIDIA management to meet with UBS
Meetings to be held in Delaware/Berwyn/Baltimore on July 10 hosted by UBS.
07:14 EDTTWCAereo seeks to survive as cable system, WSJ says
Following its Supreme Court loss, Aereo is now arguing that it should be classified as a cable system and receive a compulsory license that would give it legal access to content and allow it to continue operating, reported The Wall Street Journal. Television broadcasters that own the copyrights in many of the programs that Aereo streams, including CBS (CBS), Disney (DIS), 21st Century Fox (FOXA), and Comcast (CMCSA), successfully sued the service for copyright infringement. In addition to Comcast, publicly-traded cable companies include Time Warner Cable (TWC), Cablevision (CVC), and Charter (CHTR). Reference Link
July 9, 2014
15:54 EDTTWCDISH expresses concerns over Comcast, AT&T deals to FCC
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11:16 EDTLMTAeroVironment rallies after better than expected results
Shares of AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems, are rallying after the company reported better than expected fourth quarter results. WHAT'S NEW: Last night, AeroVironment reported Q4 EPS of 35c and revenue of $73.5M, compared to analysts' consensus estimates of 22c and $69.62M, respectively. WHAT'S NOTABLE: The company forecast fiscal 2015 revenue of $250M-$270M, compared to consensus of $256.2M, along with gross profit margins of 34.5%-37.5%. The company noted that planned increases in research and development and business development investments for Tactical Missile Systems, Commercial UAS and Global Observer business areas in FY15 may largely offset operating profit in the current fiscal year. PRICE ACTION: In morning trading, AeroVironment soared $4.49, or 14.5%, to $35.45 on nearly five times its average daily trading volume. Including today's advance, the stock is up more than 70% over the past 12 months. OTHERS TO WATCH: Other companies in the unmanned aircraft space include Lockheed Martin (LMT), General Dynamics (GD), and Northrop Grumman (NOC), though all of those are significantly larger than AeroVironment.
07:22 EDTNVDANVIDIA management to meet with UBS
Meeting to be held in Boston on July 9 hosted by UBS.
07:20 EDTDALAirline sell-off an attractive long-term opportunity, says Deutsche Bank
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06:54 EDTLMTPentagon says no decision yet on F-35s air show attendance, Reuters says
Pentagon press secretary Rear Admiral John Kirby said that a choice has not been made yet on whether to send a group of Lockheed Martin F-35 Joint Strike Fighters to Britain for the plane's international debut at two air shows after the fleet was grounded in response to an engine fire, according to Reuters, citing comments from Kirby. Kirby said, "A decision will be coming pretty soon." Reference Link
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