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Stock Market & Financial Investment News

News Breaks
June 30, 2014
09:57 EDTESYJY, UTL, RYN, DG, BEBE, TLYS, MBI, WFC, SYT, FMSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Dollar General (DG) downgraded to Equal Weight from Overweight at Johnson Rice... Fresenius Medical (FMS) downgraded to Underperform from Hold at Jefferies... MBIA (MBI) downgraded to Neutral from Buy at BTIG... Rayonier (RYN) downgraded at RBC Capital... Syngenta (SYT) downgraded to Underweight from Neutral at JPMorgan... Tilly's (TLYS) downgraded to Neutral from Buy at B. Riley... Unitil (UTL) downgraded to Hold from Buy at Brean Capital... Wells Fargo (WFC) downgraded to Underperform from Neutral at Macquarie... bebe stores (BEBE) downgraded to Neutral from Buy at B. Riley... easyJet (ESYJY) downgraded to Underperform from Neutral at BofA/Merrill.
News For DG;FMS;MBI;RYN;SYT;TLYS;UTL;WFC;BEBE;ESYJY From The Last 14 Days
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February 3, 2016
05:43 EDTSYTSyngenta: 2016 focus will be on profitability in challenging market conditions
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05:41 EDTSYTSyngenta reports FY15 sales $13.41B vs. $15.13B last year
Reports FY15 operating income $1.84B vs. $2.11B last year. Reports FY15 net income $1.34B vs. $1.62B last year. Reports FY15 EBITDA $2.78B vs. $2.93B last year. Reports FY15 EPS $17.78 vs. $19.42 last year. Syngenta CEO John Ramsay commented, "Over the last two years we have been dealing not only with low crop prices but also with emerging market instability and massive movements in currencies. Our ability to navigate our way through these headwinds was notably evident in 2015, when exchange rates reduced our full year sales by $1.8 billion - and yet the impact on EBITDA was contained at just $100 million. The latest currency challenge has been the rapid devaluation of the Brazilian Real, which accelerated during the summer, just as the planting season was getting underway."
05:33 EDTSYTChemChina offers to acquire Syngenta at value over $43B
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05:30 EDTSYTChemChina offers to acquire Syngenta at value over $43B
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February 2, 2016
13:44 EDTSYTChemChina considering delisting Syngenta after takeover, Bloomberg says
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12:19 EDTWFCWells Fargo settles with SEC over municipal securities underwriting violations
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12:03 EDTSYTOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
07:28 EDTSYTChemChina close to deal to acquire Syngenta for $43B, Bloomberg reports
ChemChina is close to a deal to buy Syngenta for $42.8B, Bloomberg reports, citing sources. Reference Link
January 31, 2016
20:43 EDTWFCOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
12:33 EDTWFCU.S. banks could return 20% or more, Barron's says
The banking sector looks like "one of the best bargains in the market," Barron's contends in a cover story. Names such as Citi (C), JPMorgan (JPM), Bank of America (BAC), Wells Fargo (WFC), Goldman Sachs (GS), Morgan Stanley (MS), BB&T (BBT), PNC Financial (PNC), SunTrust (STI) and U.S. Bancorp (USB) are showing healthy balance sheets and could offer "at least" 20% upside, the publication argues, adding that the industry's exposure to the energy sector "looks manageable" given information offered in recent earnings reports and conference calls. Reference Link
January 29, 2016
10:05 EDTRYNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Atlassian (TEAM) upgraded on positive outlook at JMP Securities... BRF S.A. (BRFS) upgraded to Buy from Hold at Deutsche Bank... Bank of America (BAC) upgraded to Outperform from Sell at CLSA... CEMEX (CX) upgraded to Buy from Hold at Jefferies... Chemical Financial (CHFC) upgraded to Outperform from Market Perform at Fig Partners... Computer Programs (CPSI) upgraded to Buy from Hold at Topeka... DST Systems (DST) upgraded to Outperform at Baird... Diamond Offshore (DO) upgraded to Neutral from Sell at Citi... First Cash Financial (FCFS) upgraded to Buy from Neutral at Janney Capital... First Merchants (FRME) upgraded to Overweight from Equal Weight at Stephens... Flex (FLEX) upgraded on solid results at Stifel... Intercept (ICPT) upgraded to Equal Weight from Underweight at Morgan Stanley... J.C. Penney (JCP) upgraded to Neutral from Underperform at Credit Suisse... JetBlue (JBLU) upgraded to Buy from Hold at Evercore ISI... Juniper (JNPR) upgraded to Outperform from Market Perform at Bernstein... Live Oak Bancshares (LOB) upgraded to Buy from Neutral at SunTrust... Microsemi (MSCC) upgraded to Outperform from Market Perform at Wells Fargo... NetSuite (N) upgraded to Buy from Hold at Canaccord... NextEra Energy (NEE) upgraded to Outperform at Baird... Oshkosh (OSK) upgraded to Buy from Neutral at SunTrust... PC Connection (PCCC) upgraded to Market Perform from Underperform at Raymond James... Pinnacle Financial (PNFP) upgraded to Overweight from Equal Weight at Stephens... Potash (POT) upgraded to Outperform from Sector Perform at Scotiabank... Rayonier (RYN) upgraded on valuation at BMO Capital... SanDisk (SNDK) upgraded to Buy from Hold at Needham... Select Comfort (SCSS) upgraded to Outperform from Neutral at Wedbush... Sotherly Hotels (SOHO) upgraded to Buy from Neutral at Janney Capital... Textura (TXTR) upgraded to Outperform from Market Perform at Northland... Valley National (VLY) upgraded to Buy from Hold at Sandler O'Neill.
09:16 EDTRYNRayonier upgraded on valuation at BMO Capital
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06:44 EDTRYNRayonier upgraded to Outperform from Market Perform at BMO Capital
January 28, 2016
18:19 EDTWFCBank of America, Wells Fargo to integrate Apple Pay in ATMs, TechCrunch says
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07:02 EDTUTLUnitil reports Q4 EPS 67c, consensus 68c
January 26, 2016
16:26 EDTWFCWells Fargo rises in extended session after boosting buybacks
Shares are up over 1.2% to $48.84. At that price next resistance is at $49.46. Support is at $48.26, the closing price of the session.
16:23 EDTWFCWells Fargo increases common stock repurchase authority by 350M shares
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January 25, 2016
06:34 EDTSYTChemChina may be closing in on higher offer for Syngenta, Financial Times says
ChemChina may be closing in on a higher offer for Syngenta, reports the Financial Times. If the transaction is completed, the deal would represent the largest overseas acquisition by a Chinese company. Reference Link
January 24, 2016
14:12 EDTMBIMBIA says CFO Chuck Chaplin to depart, McKiernan to succeed
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13:41 EDTMBIBondholders say PREPA chooses not to extend restructuring support agreement
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