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Stock Market & Financial Investment News

News Breaks
December 5, 2012
10:00 EDTDST, AIG, BOBE, AVAV, WM, PAY, RSG, PNC, DFT, DLR, TUPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: DST Systems (DST) upgraded to Equal Weight from Underweight at Evercore... Digital Realty (DLR) upgraded to Hold from Sell at Cantor... DuPont Fabros (DFT) upgraded to Buy from Hold at Cantor... PNC Financial (PNC) upgraded to Buy from Neutral at Compass Point... Republic Services (RSG) upgraded to Conviction Buy from Buy at Goldman... VeriFone (PAY) upgraded to Buy from Neutral at UBS... Waste Management (WM) upgraded to Buy from Neutral at Goldman... AeroVironment (AVAV) upgraded to Neutral from Underperform at Sterne Agee... Bob Evans (BOBE) upgraded to Buy from Hold at KeyBanc... AIG (AIG) upgraded to Buy from Hold at Argus... Tupperware Brands (TUP) upgraded to Buy from Hold at Argus.
News For DST;DLR;DFT;PNC;RSG;PAY;WM;AVAV;BOBE;AIG;TUP From The Last 14 Days
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October 22, 2014
07:10 EDTTUPTupperware Brands sees Q4 EPS ex-items $1.55-$1.60, consensus $1.70
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07:08 EDTTUPTupperware Brands reports Q3 adjusted EPS 90c, consensus 91c
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October 21, 2014
14:09 EDTAIGThird Point discloses new positions in eBay, Alibaba, exit from Sony
In its Q3 investor letter, Third Point says it established a "significant" position in eBay (EBAY). Dan Loeb's hedge fund also revealed it has established a significant direct investment in Alibaba (BABA) shares now that the company is public. Third Point also said it is now one of Amgen's (AMGN) largest shareholders. During the quarter, Third Point exited its position in Sony (SNE) and reduced or exited other positions, including AIG (AIG), Hertz (HTZ) and Softbank (SFTBF), the firm stated in its letter. PRICE ACTION: Following the disclosures in the Third Point letter, Amgen is up 4%, eBay is up 2.3% and Alibaba is up 3.8%, while Sony shares trading in New York are down nearly 1%.
11:15 EDTTUPHigh option volume stocks
High option volume stocks: DBA TUP CRI FCG TWC PLL ACM XRS RAI AMTD
October 20, 2014
12:28 EDTPAYNCR Corp. plummets after guidance lowered
Shares of payment solutions company NCR Corp. (NCR) are sinking after the firm’s third quarter forecasts missed analysts’ consensus estimates and it lowered its outlook for fiscal 2014. WHAT'S NEW: This morning, NCR Corp. forecast Q3 EPS of 67c and revenue of $1.647B, below analysts' consensus estimates of 71c and $1.66B, respectively. Q3 free cash flow is seen at $132M, which includes the previously announced recovery of $93M related to the Fox River environmental matter. The company cited a challenging retail market as well as difficult global macroeconomic conditions, including foreign currency headwinds, for the weak outlook. WHAT'S NOTABLE: NCR Corp. lowered its FY14 EPS view to $2.60-$2.70 from $3.00-$3.10, compared to consensus of $3.00. It also cut its FY14 revenue outlook to $6.575B- $6.625B from $6.75B-$6.85B, versus consensus of $6.74B. The company said, “While we are disappointed by these results, our Financial Services business remains a bright spot, Q3 free cash flow improvement was strong, and our previously announced restructuring program is on track to deliver annual run-rate savings of approximately $90M by 2016. While we continue to be faced with challenging and uncertain market dynamics, we remain confident in the actions we are taking to address these challenges, including strengthening our Retail Solutions team and talent, as well as utilizing our restructuring program to allocate more resources to our highest growth, highest margin opportunities to drive long-term profitable growth.” PRICE ACTION: In afternoon trading, NCR Corp. fell $6.43, or about 21.5%, to $23.45 on nearly five times its average daily trading volume. Earlier in the session, the stock hit a fresh 52-week low of $23.32. Including today's pull back, the shares have lost approximately 41% over the past 12 months. OTHERS TO WATCH: Other companies in the payment solutions business include VeriFone Systems (PAY) and Diebold (DBD).
06:40 EDTPNCPNC Financial downgraded to Hold from Buy at Deutsche Bank
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06:38 EDTAIGAIG upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded AIG to Buy citing valuation following the recent pullback in shares. Deutsche believes concerns that Starr International could succeed in its trial against the U.S. Government are overblown. It raised its price target for AIG shares to $60 from $59.
October 17, 2014
11:25 EDTPAYVeriFone wins appeal of patent ruling in favor of CardSoft
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09:06 EDTPNCJPMorgan and PNC Financial weakness a buying opportunity, say Morgan Stanley
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08:14 EDTAIGAIG unlikely to be forced to indemnify government, says Bernstein
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08:00 EDTPAYVeriFone fundamentals unchanged despite sell-off, says Jefferies
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October 15, 2014
11:04 EDTPNCPNC Financial sees reserve releases continuing, but not likely at current level
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10:30 EDTPNCPNC Financial says U.S. economy feels 'very strong,' 'resilient'
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10:20 EDTPNCPNC Financial sees 'challenging' revenue environment until rates rise
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07:55 EDTPNCPNC Financial sees Q4 net interest income down modestly vs. Q3
Sees modest growth in loans in Q4 vs. Q3. Sees "stable" fee income in Q4 vs. Q3. Sees Q4 noninterest expense up low single digits vs. Q3. Sees Q4 loan loss provision $25M-$75M. Comments from slides that will be presented on the Q3 earnings conference call.
06:47 EDTPNCPNC Financial reports Q3 retail banking net interest income $985M
Retail Banking earnings for Q3 decreased compared with Q2 and increased compared with 3Q13. Noninterest income included strong customer-related fee income growth in both comparisons primarily resulting from changes in product offerings and increases in customer-initiated transactions. Noninterest income also reflected gains on sales of Visa Class B common shares of $57M in Q3, $54M in Q2 and $85M in 3Q13. Provision for credit losses increased compared with the linked quarter as credit quality improved at a slower pace in Q3 compared with Q2. The provision decreased compared with 3Q13 driven by improved credit quality in the consumer and commercial loan portfolios as net charge-offs and delinquencies declined.
06:43 EDTPNCPNC Financial reports Q3 EPS $1.79, consensus $1.71
Reports Q3 revenue $3.84B, consensus $3.8B. Reports Q3 Basel III Tier 1 capital ratio 10.1%. Reports Q3 book value per share $76.71. Reports Q3 net charge offs 0.16%. PNC continued to execute on its strategic priorities as reflected in the results for the third quarter which included strong fee income, well-controlled expenses and overall credit quality improvement. Net interest income of $2.1B in Q3 decreased $25M, or 1%, compared with Q2 due to lower earning asset yields, lower investment securities balances and the impact of increasing the company's liquidity position.
October 14, 2014
15:40 EDTPNCPNC Financial October 82 straddle priced for 3% move into Q3
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15:29 EDTPNCNotable companies reporting before tomorrow's open
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October 13, 2014
08:45 EDTPNCPNC Financial October volatility elevated into Q3 and outlook
PNC Financial October call option implied volatility is at 33, November is at 23, January is at 19; compared to its 26-week average of 18 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 16.
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