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Stock Market & Financial Investment News

News Breaks
January 16, 2013
15:16 EDTCLC, PCBK, FUL, EBAY, CVBF, KMR, SLM, BPFH, PLXS, KMP, KMICompanies reporting After the Market Close on Wednesday, January 16th
Notable companies reporting after the bell include Boston Private Financial (BPH), Clarcor (CLC), CVB Financial (CVBF), eBay (EBAY), H.B. Fuller (FUL), Kinder Morgan (KMI), Kinder Morgan Energy (KMP), Kinder Morgan Management (KMR), Pacific Continental (PCBK), Plexus (PLXS) and SLM Corp. (SLM).
News For EBAY;KMI;SLM;FUL;KMP;KMR;PCBK;PLXS;CVBF;CLC;BPFH From The Last 14 Days
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February 10, 2016
11:44 EDTEBAYeBay CEO says investors can expect company to be acquisitive in FY16
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11:39 EDTEBAYeBay CEO: StubHub challenge is to move into primary ticket market
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11:24 EDTEBAYeBay CEO: What's happening in e-commerce 'not the most unhealthy thing'
eBay president and CEO Devin Wenig said it is hard to grow value in e-commerce. Says what's happening in e-commerce "not the most unhealthy thing in the world." Says could grow faster now but not create value. Says still sees brand challenge for company. Says move to mobile has limited consumers' patience. Comments taken from Goldman Sachs Technology and Internet conference.
February 9, 2016
10:21 EDTEBAYRising competition may weigh on PayPal margins, analyst says
Research firm Piper Jaffray warned that PayPal continues to face increased competition, which may weigh on its results. Meanwhile, the company announced a change in its Chief Technology Officer. PIPER STICKS WITH SELL RATING: Other leading digital payment systems are becoming more competitive with PayPal's offering, according to well-known Piper Jaffray analyst Gene Munster. More financial and technology competitors - including Visa (V), MasrterCard (MA), Google (GOOG,GOOGL), Samsung and Apple (AAPL) - are offering "similar functionality" to PayPal, Munster believes. Moreover, Apple and and Samsung will begin accepting mobile Web payments in 2016, intruding on PayPal's core competency, and Facebook (FB) is looking to partner with multiple players in the space, Munster noted. The credit card networks are poised to launch online checkout systems, further increasing PayPal's competition, Munster warned. In the face of all this competition, PayPal's appeal to its customers is questionable, according to the analyst, who kept a $33 price target and Underweight rating on the shares. WHAT'S NOTABLE: PayPal announced that its CTO, James Barrese, would resign "to take time off." Barrese will be replaced, effective April 1, by Sri Shivananda, who led eBay's (EBAY) Global Platform and Infrastructure team, PayPal reported. Shivananda's team has worked closely with PayPal, the company noted. PRICE ACTION: In early trading, PayPal slipped about 1% to $33.30.
09:34 EDTEBAYChannelAdvisor says Amazon SSS grew 17.8% in January, eBay SSS up 4%
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08:31 EDTEBAYPayPal names Sri Shivananda as Chief Technology Officer
PayPal Holdings (PYPL) announced the appointment of Sri Shivananda as the company's new Senior Vice President and Chief Technology Officer, effective April 1, 2016. Shivananda's appointment follows the decision by current CTO, James Barrese, to step down to take time off. James will remain with PayPal for a period of time to support a smooth transition period. During his nearly 15-year tenure at the company, Shivananda led eBay's (EBAY) Global Platform and Infrastructure team that powered both the eBay Inc. and PayPal businesses.
06:17 EDTEBAYStubHub announces launch of new ticketing platform
eBay's StubHub yesterday announced the upcoming launch of its new ticketing platform, which offers partners a "reimagined rightsholder branded experience, full market visibility, data ownership and the listing of primary and secondary ticket inventory in a single marketplace." The Philadelphia 76ers will serve as the launch partner, making StubHub the Official Ticketing Partner of the team, with tickets available on the new platform in advance of the 2016-2017 NBA season.
February 8, 2016
17:02 EDTEBAYPayPal announces Chief Technology Officer James Barrese resigns
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February 3, 2016
10:22 EDTCLCClarcor management to meet with BB&T
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February 1, 2016
11:45 EDTKMIKinder Morgan closes acquisition of 15 BP terminals
Kinder Morgan, Inc. (KMI) closed the previously announced plan to acquire 15 refined products terminals from BP Products North America (BP) in a transaction valued at approximately $350M. Kinder Morgan and BP Products North America have also formed a joint venture limited liability company terminal business to own 14 of the acquired assets, which Kinder Morgan will operate and market on the JV's behalf. The fifteenth terminal will be owned and operated solely by KMI. In connection with the transaction, BP has entered into commercial agreements securing long-term storage and throughput capacity from the JV, which will market additional capacity to third-party customers. Kinder Morgan owns a 75% interest in the JV, with BP owning the balance. This investment is included in Kinder Morgan's 2016 capital plan as discussed in its Jan. 27 investor conference, the company noted.
10:02 EDTBPFHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
09:31 EDTBPFHBoston Private Financial downgraded at SunTrust
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09:24 EDTBPFHBoston Private Financial downgraded to Neutral from Buy at SunTrust
09:13 EDTCLCClarcor acquires assets of TDC Filter for approximately $11M
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09:12 EDTCLCMFRI, Inc. exiting filtration segment, to focus on piping businesses
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06:13 EDTBPFHBoston Private Financial downgraded to Neutral from Buy at SunTrust
SunTrust analyst Jennifer Demba downgraded Boston Private Financial to Neutral and lowered her price target to $11 from $14 on shares. Demba said the company continues to struggle from asset outflows and will struggle from a bottoming in credit costs and increased expenses from new hires.
January 31, 2016
11:39 EDTEBAYS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
January 30, 2016
14:40 EDTFULH.B. Fuller to host investor day
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