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December 5, 2012
10:00 EDTBOBE, PAY, DFT, TUP, AVAV, RSG, DLR, AIG, WM, PNC, DSTOn 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.
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January 16, 2015
10:54 EDTPNCPNC Financial says 'not in the market' for acquisitions
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10:49 EDTPNCPNC Financial says doesn't see special dividend in 2015
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10:31 EDTPNCPNC Financial says FY15 revenue will continue to be under pressure
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10:10 EDTPNCPNC Financial: Revenue growth will remain a challenge until interest rates rise
Says revenue growth will remain a challenge until interest rates rise. Says 2015 looks "a lot" like 2015 at the moment. Comments made on the Q4 earnings conference call.
10:06 EDTDLRBofA/Merrill real estate analysts to hold an analyst/industry conference call
U.S. Real Estate Analyst Spector, along with EMEA Real State Analyst Bessell, HK/China Real Estate Analyst Ngai and ASEAN Real Estate Analyst Chua, discuss key trends in Global Property/Real Estate in 2015 on an Analyst/Industry conference call to be held on January 20 at 8 am.
07:16 EDTPNCPNC Financial sees 'stable' net interest income in Q1
Sees "modest" loan growth in 1Q15 vs. 4Q14. Sees fee income down mid-single digits in Q1 from Q4 due to seasonality and client activity. Sees Q1 noninterest income down high single digits. Sees Q1 loan loss provision $50M-$100M. Comments from slides that will be presented on the Q4 earnings conference call.
06:55 EDTPNCPNC Financial reports Q4 EPS $1.84, consensus $1.74
Reports Q4 revenue $3.95B, consensus $3.8B. Reports Q4 net interest income $986M. Reports Q4 book value per share $77.61. Reports Q4 transitional Basel III Tier 1 capital ratio 11%. Reports Q4 net charge-off 0.23%.
January 15, 2015
15:14 EDTPNCNotable companies reporting before tomorrow's open
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08:10 EDTDFTDuPont Fabros to hold a conference call
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08:01 EDTPNCPNC Financial January volatility increases into Q4 and outlook
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January 14, 2015
07:24 EDTAVAVAeroVironment coverage resumed with a Hold at Stifel
January 13, 2015
16:24 EDTAIGOn The Fly: Closing Wrap
The Wall Street averages spent time in both positive and negative territory during the session, before closing a bit below where they'd started the day. The market opened sharply higher after Alcoa’s (AA) better than expected report gave some optimism about the upcoming earnings season. The early move higher came despite oil continuing its slide. The major averages saw their highs shortly after the open and then began to drift slowly lower. By mid-afternoon the market was in the red, though the equity averages eventually made it briefly back into positive ground, but failed to hold those narrow gains into the close. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index for December came in at 100.4, which was stronger than the expected 98.5 reading. The JOLTS report showed job openings increased 142K to 4.972M in November, beating the 4.85M consensus forecast. Treasury posted a $1.9B surplus in December, which was a bit below the expected surplus of $3B. Also of note is the fact that the U.S. and European benchmarks of WTI and Brent crude were at parity for the first time since 2013 during the session, with both trading near $46 per barrel for a time. COMPANY NEWS: KB Home (KBH) reported better than expected revenue and higher orders in its fourth quarter, but the stock declined $2.70, or 16.29%, to $13.87 after CEO Jeffrey Mezger warned on the associated earnings call that margins could drop "significantly" in its current quarter from the levels seen last year. KB's margin outlook, which it blamed on rising costs, heavier use of incentives and a sequential decline in average selling prices, dragged down peers in the housing space as well. D.R. Horton (DHI), the biggest homebuilder by market cap, finished the day down $1.26, or 4.83%, to $24.82, while PulteGroup (PHM) also slid $56c, or 2.47%, to $22.13... MetLife (MET) said it will sue to oppose the U.S. Financial Stability Oversight Council’s designation of the insurer as a SIFI, or "systemically important financial institution." The life insurer called the label premature and said it has offered “substantial and compelling evidence” that it isn’t a SIFI. Wells Fargo said it thinks it is appropriate for MetLife to challenge the ruling, though the firm does not presently see a Dodd-Frank provision that enables an entity to shed its designation. Wells added that a MetLife victory would have no impact on either AIG (AIG) or Prudential (PRU), which did not challenge their SIFI designations before their windows closed. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which rose $1.21, or 20.86%, to $7.01 after the company issued better than expected guidance on its second quarter results. Also higher was McGraw Hill Financial (MHFI), which jumped $5.13, or 5.98%, to $90.89 after reports said the company's Standard & Poor’s rating unit was in talks about a potential $1B settlement to its fight with the Justice Department and state attorneys general over allegations of inflating credit ratings on mortgage investments preceding the financial crisis. Among the noteworthy losers was ChannelAdvisor (ECOM), which plunged $11.32, or 53.52%, to $9.83 after its fourth quarter revenue warning prompted no less than eight downgrades of the stock by Street analysts. Also lower were shares of Ocwen Financial (OCN), which dropped $4.41, or 36.18%, to $7.78 after the Los Angeles Times reported that California is seeking to suspend the company's mortgage license in the state. Altisource Portfolio Solutions (ASPS), which is a related company to Ocwen, also declined $10.45, or 38.79%, to $16.49. Shares of GoPro (GPRO) fell $6.91, or 12.17%, to $49.87 after the Patently Apple blog reported that Apple (AAPL) was granted a patent for a camera system that specifically mentions the weaknesses of GoPro devices. INDEXES: The Dow fell 27.16, or 0.15%, to 17,613.68, the Nasdaq lost 3.21, or 0.07%, to 4,661.50, and the S&P 500 dropped 5.23, or 0.26%, to 2,023.03.
10:46 EDTAIGMetLife has only upside in challenging SIFI designation, says Wells Fargo
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10:08 EDTTUPHigh option volume stocks
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10:00 EDTPNCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Midstream Partners (AMID) initiated with a Buy at Wunderlich... Ameriprise (AMP) initiated with a Buy at Deutsche Bank... Applied DNA Sciences (APDN) initiated with a Buy at Maxim... Axalta Coating (AXTA) initiated with an Outperform at RW Baird... Bellicum Pharmaceuticals (BLCM) initiated with a Buy at Citigroup... Bonanza Creek (BCEI) initiated with a Hold at Deutsche Bank... ConocoPhillips (COP) initiated with an Underweight at JPMorgan... Core-Mark (CORE) initiated with a Buy at Jefferies... Dick's Sporting (DKS) initiated with an In-Line at Imperial Capital... Dynegy (DYN) reinstated with an Overweight at Barclays... Gannett (GCI) initiated with an Outperform at Wells Fargo... Gran Tierra (GTE) initiated with an Outperformer at CIBC... HomeAway (AWAY) initiated with an Outperform at RBC Capital... Juno Therapeutics (JUNO) initiated with a Neutral at Goldman... MakeMyTrip (MMYT) initiated with a Buy at BofA/Merrill... PDC Energy (PDCE) initiated with a Hold at Deutsche Bank... PNC Financial (PNC) initiated with a Hold at Evercore ISI... Proofpoint (PFPT) initiated with a Buy at Summit Research... Sensata (ST) initiated with a Buy at Stifel... Southcross Energy Partners (SXE) initiated with a Buy at Wunderlich... Suncor (SU) initiated with an Overweight at JPMorgan... U.S. Bancorp (USB) initiated with a Hold at Evercore ISI... United Financial (UBNK) initiated with a Sector Perform at RBC Capital... Vantiv (VNTV) initiated with an Outperform at Keefe Bruyette... Wells Fargo (WFC) initiated with a Hold at Evercore ISI.
07:13 EDTAIGMetLife CEO could decide soon whether to file suit against U.S., WSJ reports
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January 12, 2015
16:17 EDTPNCPNC Financial initiated with a Hold at Evercore ISI
10:00 EDTDLROn The Fly: Analyst Downgrade Summary
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07:20 EDTTUPICR to hold a conference
17th Annual ICR XChange Conference is being held in Orlando, Florida on January 12-14.
06:01 EDTDLRDigital Realty downgraded to Hold from Buy at Jefferies
Jefferies downgraded Digital Realty to Hold with a $70 price target citing the recent rally in shares.
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