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Stock Market & Financial Investment News

News Breaks
May 9, 2012
12:38 EDTDVAX, PCS, SODA, DIS, CQB, BBBY, TM, DTEGY, CPWM, MOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, but the major averages were well off the lows seen about an hour into trading. The market is down for the sixth consecutive session, its longest losing string of the year. The weakness is being attributed to concern about the fate of the euro zone as a new leader takes over in France and Greece struggles to form a government and may need to hold another round of elections. The past several sessions have seen the market open lower but rally during the later hours of the session to reduce the day's losses. So far today that trend is continuing as the averages have recovered significantly from their worst levels... ECONOMIC EVENTS: In the U.S., wholesale inventories rose 0.3% in March, versus the expected increase of 0.6%. In Europe, Spanish 10-year bond yields rose above 6% and more reports indicated that efforts to form a new government in Greece were expected to fail, putting the country's bailout deal in doubt and renewing concerns about Greece intentionally exiting or being forced off the euro. A Reuters report, citing EU sources, said the EU is more likely than not to agree to the latest EUR 5.2B bailout payment due tomorrow to Greece from the EFSF bailout fund, which may have contributed to a late morning rally seen here in the States... COMPANY NEWS: Disney (DIS) shares gained over 2% after its earnings beat expectations, while Macy's (M) slid more than 3% in spite of earnings that also came in above consensus... Toyota (TM) reported a surge in its Q4 net income and forecast a doubling of profits in the current fiscal year, sending its stock up more than 3%... MAJOR MOVERS: Among the notable gainers were SodaStream (SODA), up over 26%, after it reported much stronger than expected results and boosted its 2012 guidance, and Cost Plus (CPWM), up about 22%, after agreeing to be acquired by Bed Bath & Beyond (BBBY) for $22 per share. Also higher were shares of MetroPCS (PCS), up about 19%, after Bloomberg reported Deutsche Telekom (DTEGY) was said to be in talks with the company on a potential T-Mobile deal. Noteworthy losers included Chiquita Brands (CQB), down 32%, after its earnings fell short of consensus and it warned that it sees 2012 continuing to be "a challenging year," and Dynavax (DVAX), down more than 22%, after pricing 17.5M shares at $4.25 in a secondary stock offering... INDICES: Near 12:30 pm ET, the Dow was down 98.05, or 0.76%, to 12,834.04; the Nasdaq was down 17.19, or 0.58%, to 2,929.08; and the S&P 500 was down 9.58, or 0.70%, to 1,354.14.
News For DIS;M;TM;SODA;CPWM;BBBY;PCS;DTEGY;CQB;DVAX From The Last 14 Days
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January 28, 2016
05:47 EDTTMToyota seen deciding Friday on buying out rest of Daihatsu, Reuters reports
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January 27, 2016
12:34 EDTTMToyota to recall roughly 5000 2016 Lexus vehicles equipped with faulty air bag
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11:20 EDTBBBYBed Bath & Beyond slips after Citi, Keybanc both say sell
Home goods retailer Bed Bath & Beyond (BBBY) is declining in late morning trading after being downgraded to Sell-equivalent ratings at both Keybanc and Citi. WHAT'S NEW: KeyBanc analyst Bradley Thomas downgraded Bed Bath & Beyond to Underweight from Sector Weight after his firm's work on housing showed growth has slowed. The analyst noted that the home furnishings sector is growing increasingly competitive, and he took a more cautious view on Hardline retailers whose growth is predicated primarily on same-store sales. Thomas kept a $35 price target on shares of Bed Bath & Beyond. Citi analyst Kate McShane downgraded Bed Bath & Beyond to Sell from Neutral on expectations the retailer's earnings will continue to decline over the next two years. McShane also noted that competition in home furnishings remains intense, while Bed Bath's e-commerce operations continue to be unprofitable. McShane cut her price target for the shares to $37 from $51. OTHERS TO WATCH: The analysts, in their respective notes, also opined on Bed Bath & Beyond's peers. Keybanc's Thomas downgraded Haverty Furniture (HVT) and Pier 1 Imports (PIR) to Sector Weight from Overweight. Meanwhile, Citi's McShane recommended a pair trade of long Dick's Sporting Goods (DKS), which the firm is Overweight on due to valuation, and short Bed Bath & Beyond. PRICE ACTION: Shares of Bed Bath & Beyond are down 1.6% to $43.34, while Haverty Furniture and Pier 1 Imports are down 3.8% and 3.9%, respectively. Dick's Sporting Goods, meanwhile, is down 0.7% to $37.84.
10:18 EDTDISMattel and Disney Consumer Products announce renewed agreement
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10:00 EDTBBBYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BG Group (BRGYY) downgraded to Neutral from Outperform at Credit Suisse... Bed Bath & Beyond (BBBY) downgraded to Sell from Neutral at Citi... Bill Barrett (BBG) downgraded to Neutral from Buy at Ladenburg... Brown & Brown (BRO) downgraded to Underweight at Morgan Stanley... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at BTIG... Canadian National (CNI) downgraded to Market Perform from Outperform at Raymond James... DreamWorks (DWA) downgraded to Sell from Hold at Topeka... FirstMerit (FMER) downgraded at RBC Capital... Gentex (GNTX) downgraded to Neutral from Outperform at Baird... Haverty Furniture (HVT) downgraded to Sector Weight from Overweight at KeyBanc... Hercules Technology (HTGC) downgraded to Neutral from Buy at Compass Point... Horizon Technology (HRZN) downgraded to Market Perform from Outperform at Raymond James... Installed Building downgraded to Sector Weight from Overweight at KeyBanc... Jarden (JAH) downgraded to Neutral from Buy at Citi... K+S (KPLUF) downgraded to Sell from Hold at Berenberg... La-Z-Boy (LZB) downgraded at BB&T... Legacy Reserves (LGCY) downgraded to Market Perform from Outperform at FBR Capital... Medivation (MDVN) downgraded to Hold from Buy at Canaccord... Merck (MRK) downgraded to Neutral from Buy at BofA/Merrill... Metaldyne Performance (MPG) downgraded to Neutral from Outperform at Baird... Pier 1 Imports (PIR) downgraded to Sector Weight from Overweight at KeyBanc... Priceline (PCLN) downgraded to Neutral from Buy at Goldman... Profire Energy (PFIE) downgraded to Neutral from Buy at Chardan... Regeneron (REGN) downgraded to Hold at Canaccord... Starwood (HOT) downgraded to Underperform from Outperform at CLSA... Swiss Re (SSREY) downgraded to Equal Weight from Overweight at Morgan Stanley... TSYS (TSS) downgraded to Equal-Weight from Overweight at First Analysis... Talmer Bancorp (TLMR) downgraded to Sector Perform from Outperform at RBC Capital... TopBuild (BLD) downgraded to Sector Weight from Overweight at KeyBanc... TripAdvisor (TRIP) downgraded to Sell from Neutral at Goldman... VMware (VMW) downgraded to Hold from Buy at Summit Research... W.R. Grace (GRA) downgraded to Buy from Conviction Buy at Goldman... WEC Energy (WEC) downgraded to Neutral from Conviction Buy at Goldman... Welltower (HCN) downgraded to Underperform from Market Perform at BMO Capital... Yamana Gold (AUY) downgraded to Neutral from Overweight at JPMorgan.
09:29 EDTDTEGYFacebook data center project supported by telco heavyweights, FT reports
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09:12 EDTBBBYOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Biogen (BIIB), up 5.6%... Hawaiian Holdings (HA), up 6.7%... Capital One (COF), up 1.5%. ALSO HIGHER: Capnia (CAPN), up 34.1% after entering into an exclusive distribution agreement with Bemes... Fate Therapeutics (FATE), up 18.6% after announcing that the FDA has cleared the company's investigational new drug application for ProTmune... Raptor Pharmaceutical (RPTP), up 12.1% after being upgraded to Buy from Neutral at Citi... Aquinox (AQXP), up 5.6% after Baker Bros. buys 140,786 shares in the company... Sunedison (SUNE), up 7.4% after SunEdison and Greenlight Capital announced that they have mutually agreed to corporate governance initiatives... Citizens Financial Group (CFG), up 3% after it will be added to the S&P 500... Terex (TEX), up 5.2% after being upgraded to Neutral from Underweight at JPMorgan. DOWN AFTER EARNINGS: Tupperware Brands (TUP), down 11.4%... VMware (VMW), down 6.5%... Textron (TXT), down 9.9%... Cliffs Natural (CLF), down 5.8%... Boeing (BA), down 6.2%... Fiat Chrysler (FCAU), down 3%... Apple (AAPL), down 3.4%. ALSO LOWER: Priceline (PCLN), down 2.9% after being downgraded to Neutral from Buy at Goldman... Bed Bath & Beyond (BBBY), down 4.2% after being downgraded at Citi and KeyBanc... Tripadvisor (TRIP), down 5.5% after being downgraded to Sell from Neutral at Goldman.
06:46 EDTBBBYBed Bath & Beyond downgraded to Sell from Neutral at Citi
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05:49 EDTBBBYBed Bath & Beyond downgraded to Underweight from Sector Weight at KeyBanc
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January 26, 2016
20:02 EDTTMToyota plans offer for rest of Daihatsu, denies Suzuki alliance, Bloomberg says
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19:54 EDTDISIMAX announces Spider-Man to be released in IMAX 3D Theatres
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19:46 EDTTMToyota says not in talks with Suzuki on tie up, Bloomberg says
19:37 EDTTMToyota planning offer to acquire rest of Daihatsu, Bloomber says
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17:52 EDTTMToyota in talks for broad alliance with Suzuki, Nikkei says
Toyota (TM) and Suzuki (SZKMF) have begun talks on a broad alliance to share technology and capitalize on automotive demand in emerging markets such as India, reports the Nikkei. Reference Link
10:00 EDTDISOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Amec Foster Wheeler (AMFW) downgraded to Hold from Buy at HSBC... CVR Refining (CVRR) downgraded to Sell from Neutral at Goldman... Cenovus Energy (CVE) downgraded to Neutral from Buy at UBS... Clean Harbors (CLH) downgraded to Underperform from Market Perform at Raymond James... Core Laboratories (CLB) downgraded to Reduce from Hold at HSBC... Delek US (DK) downgraded to Neutral from Buy at Goldman... Deutsche Post (DPSGY) downgraded to Underperform from Outperform at Credit Suisse... Disney (DIS) downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities... Dorian LPG (LPG) downgraded to Market Perform from Outperform at Wells Fargo... Encana (ECA) downgraded to Neutral from Buy at UBS... Fortinet (FTNT) downgraded to Hold from Buy at Deutsche Bank... Fortune Brands (FBHS) downgraded to Neutral from Outperform at Credit Suisse... General Growth (GGP) downgraded to Equal Weight from Overweight at Barclays... Golden Ocean (GOGL) downgraded to Underweight from Neutral at JPMorgan... Grupo Mexico (GMBXF) downgraded to Neutral from Overweight at JPMorgan... Halliburton (HAL) downgraded to Hold from Buy at HSBC... Marketo (MKTO) downgraded to Underperform at BofA/Merrill... Navios Maritime (NM) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Underperform at BofA/Merrill... OM Asset Management (OMAM) downgraded to Equal Weight at Morgan Stanley... Paylocity (PCTY) downgraded to Underperform from Neutral at BofA/Merrill... Pennsylvania REIT (PEI) downgraded to Underweight from Equal Weight at Barclays... Pinnacle West (PNW) downgraded to Hold from Buy at Evercore ISI... Public Storage (PSA) downgraded to Equal Weight from Overweight at Barclays... Red Hat (RHT) downgraded to Neutral from Buy at BofA/Merrill... Regal Entertainment (RGC) downgraded on valuation at RBC Capital... Rouse Properties (RSE) downgraded to Equal Weight from Overweight at Barclays... Star Bulk Carriers (SBLK) downgraded to Neutral from Overweight at JPMorgan... Stratasys (SSYS) downgraded to Neutral from Overweight at JPMorgan... Subsea 7 (SUBCY) downgraded to Reduce from Hold at HSBC... US Ecology (ECOL) downgraded to Market Perform from Outperform at Raymond James... USG (USG) downgraded to Underperform from Neutral at Credit Suisse... Vornado (VNO) downgraded to Equal Weight from Overweight at Barclays... Weir Group (WEIGY) downgraded to Underperform from Hold at Jefferies.
08:26 EDTDISTwitter in play after executive departures, says Cantor
Cantor Fitzgerald analyst Youssef Squali believes yesterday's news of several senior executives leaving Twitter (TWTR) puts the company in play and could encourage potential bidders to step forward. Twitter's current valuation and sizeable user base makes it a strategic asset for a number of potential buyers, Squali told investors last night in a research note. Potential suitors on the technology side include Alphabet (GOOG, GOOGL), Facebook (FB) and Microsoft (MSFT), the analyst contends. On the media side, Squali thinks 21st Century Fox (FOXA), Disney (DIS), Comcast (CMCSA) or Time Warner (TWX) could express interest in Twitter. No concentration of share ownership and no super-voting structure increase the odds of a buyout, Squali argues. The analyst, however, adds that the executive departures are not good news for a company in the midst of a turnaround. He maintains a Buy rating on the microblogging operator with a $45 price target. Twitter closed yesterday down 82c, or 5%, to $17.02..
06:54 EDTDISDisney downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities
Atlantic Equities analyst Hamilton Faber downgraded Disney to Neutral from Overweight and cut his price target to $104 from $148. Faber looked at how cord cutting will affect ESPN and is concerned about high levels of fixed costs in its sports rights while ESPN faces revenue headwinds. The analyst's 20 year ESPN model forecasts strong five year growth of +9% per year, but average growth over the following five years is -12% and negative thereafter. Faber reduced ESPN subscriber forecasts and no longer believes Disney's premium valuation is sustainable.
January 25, 2016
12:08 EDTDIS'Star Wars: The Force Awakens' crosses $200M mark at IMAX locations
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08:33 EDTDISDisney shares 'extremely attractive' at these levels, says JPMorgan
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January 24, 2016
17:55 EDTDIS'The Revenant' tops box office as 'Ride Along 2' sags
"The Revenant" clawed past "Ride Along 2" as this weekend's snow storm left several box office newcomers grasping for ticket sales. WEEKEND LEADER: Fox's (FOX, FOXA) "The Revenant" grossed $16M domestically for the weekend of January 24. The Leonardo DiCaprio-led survival Western was expected to take $19M-$21.6M, though results may have been dampened by the East Coast winter storm. BOX OFFICE RUNNERS-UP: Disney's (DIS) "Star Wars: The Force Awakens" earned $14.3M and now stands at $1.94B globally. Comcast (CMCSA, CMCSK) subsidiary Universal's "Ride Along 2" dipped to $13M against expectations for $18M-$18.7M, with critics and audiences generally lukewarm on the film despite its $34M open last weekend. Rounding out the weekend's top five were Lionsgate's (LGF) "Dirty Grandpa" and STX Entertainment's "The Boy," with the two newcomers debuting at a respective $11.5M and $11.3M.
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