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Stock Market & Financial Investment News

News Breaks
March 13, 2014
10:31 EDTHOS, CZR, MPO, EPL, NOV, SCS, EXPR, ED, DRC, NTAP, PVH, EAOn The Fly: Analyst Downgrade Summary
Consolidated Edison (ED) downgraded to Equal Weight from Overweight at Barclays... EPL Oil & Gas (EPL) downgraded to Hold from Buy at Stifel... Electronic Arts (EA) downgraded to Neutral from Buy at BofA/Merrill... Express (EXPR) downgraded to Market Perform from Outperform at FBR Capital... Midstates Petroleum (MPO) downgraded to Sector Perform from Outperform at RBC Capital... PVH Corp. (PVH) downgraded to Equal Weight from Overweight at Morgan Stanley... Steelcase (SCS) downgraded to Neutral from Buy at Longbow... Caesar's (CZR) downgraded to Underperform from In-Line at Imperial Capital... NetApp (NTAP) downgraded to Hold from Buy at Lake Street... National Oilwell (NOV) downgraded to Neutral from Buy at ISI Group... Hornbeck Offshore (HOS) downgraded to Neutral from Buy at ISI Group... Dresser-Rand (DRC) downgraded to Accumulate from Buy at Tudor Pickering.
News For ED;EPL;EA;EXPR;MPO;PVH;SCS;CZR;NTAP;NOV;HOS;DRC From The Last 14 Days
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July 27, 2015
15:03 EDTNOVNotable companies reporting before tomorrow's open
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July 24, 2015
05:49 EDTNTAPStocks with implied volatility movement; NTAP JNPR
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July 23, 2015
11:54 EDTNTAPOptions with increasing call volume
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11:03 EDTNTAPNetApp call activity attributed to takeover speculation
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10:56 EDTNTAPRumor: NetApp strength attributed to takeover speculation
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July 22, 2015
16:27 EDTCZROn The Fly: Top stock stories for Wednesday
Stocks began the session in negative territory and remained there throughout the day. Uninspiring earnings reports from Apple (AAPL) and Microsoft (MSFT) were enough to push the Nasdaq lower and the rest of the market followed. There was good news on the housing sector, with both existing home sales and a housing market index coming in with good data, but it was not enough to overcome the tech selloff. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: Shares of Apple dropped $5.79, or 4.43%, to $124.96 after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. A number of suppliers to Apple declined in tandem with the tech giant. Skyworks Solutions (SWKS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report... Microsoft declined $1.88, or 3.97%, to $45.40 after reporting its Q4 Devices and Consumer revenue declined 13% and its Windows OEM revenue decreased 22% as revenue was impacted by PC market declines following the XP end-of-support refresh cycle. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose $5.84, or 10.14% to $63.42 after St. Jude Medical (STJ) announced an agreement to acquire the company for $63.50 per share in a transaction valued at $3.4B. Shares of St. Jude, meanwhile, edged down by 4c to $76.67. Also higher following earnings reports were shares of Intuitive Surgical (ISRG) and Chipotle Mexican Grill (CMG), advancing about 8.5% and 7.8%, respectively. Among the noteworthy losers was Caesars Entertainment (CZR), which dropped $3.26, or 40.65%, to $4.76 following reports that a judge ruled the company must face certain creditor lawsuits that could force a bankruptcy. Caesars Acquisition (CACQ) also dipped after the news, falling $1.13, or 14.52%, to $6.65. Also lower was XOMA (XOMA), which plummeted $3.46, or 78.61%, to 94c and saw downgrades at numerous research firms after the company's Phase 3 gevokizumab study did not meet its primary endpoint. INDEXES: The Dow fell 65.60, or 0.37%, to 17,853.69, the Nasdaq lost 36.35, or 0.7%, to 5,171.77, and the S&P 500 declined 5.06, or 0.24%, to 2,114.15.
15:09 EDTCZRBankruptcy judge rules Caesar's must face suits, Bloomberg reports
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14:56 EDTCZRJudge won't halt creditor lawsuits against Caesar's parent, WSJ reports
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14:51 EDTCZRCaesar's halted for circuit breaker after falling to $6.31
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14:01 EDTCZRCaesar's July weekly 7 straddle priced for 33% movement into court ruling
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14:01 EDTCZRCaesar's July weekly volatility spikes to 490 into court ruling
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12:04 EDTCZRCaesar's volatility spikes into court ruling
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July 21, 2015
16:28 EDTCZROn The Fly: Top stock stories for Tuesday
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14:24 EDTNTAPEarnings Watch: EMC reports amid M&A speculation in sector
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12:21 EDTCZROn The Fly: Top stock stories at midday
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05:12 EDTEAEA SPORTS partners with Real Madrid C.F. as official videogame partner
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05:07 EDTCZRCaesar's, CEOC, reach agreement with group of second lien noteholders
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July 20, 2015
10:43 EDTEAZillow slides to 52-week low after Barclays cuts to sell
The shares of Zillow (Z) are falling after Barclays downgraded the stock to Underweight, the firm's equivalent of a "Sell" rating, citing increased competition in the "local" segment of the Internet market. Zillow's websites advertise homes that are up for sale. WHAT'S NEW: In a note to investors earlier today, Barclays analyst Christopher Merwin wrote that, heading into second quarter results, he does not recommend Internet stocks that have been "challenged" and have relatively "cheap" valuations. These valuations are only "cheap" based on consensus estimates that are probably too high, the analyst believes. Based on that criteria, he downgraded Zillow to Underweight from Equal Weight. He also used the same criteria to downgrade Yelp (YELP), whose website features user reviews of local businesses, to Equal Weight from Overweight. Both companies are facing an "atypical level" of competition, driven by a favorable venture capital funding environment, Merwin indicated. The competition has driven down the companies' multiples, he believes. WHAT'S NOTABLE: Merwin recommended that investors buy the shares of small and mid cap Internet companies whose estimates are just beginning to be revised upwards by analysts. He identified IAC (IACI), which owns several dating websites, as one stock in this category. IAC should benefit from increased monetization of its popular Tinder dating app and the stabilization of its core dating websites, the analyst contended. Also poised for further positive estimate revisions are video game makers Electronic Arts (EA) and Activision Blizzard (ATVI), Merwin believes. The companies' increased revenue from digital games should mitigate the risk they face from slowing software growth as sales of new consoles slow, the analyst believes. He noted that 50% of both companies' revenue are now generated from digital games and identified Electronic Arts and Activision Blizzard as two of his top ideas. PRICE ACTION: In morning trading, Zillow fell 5% to $79 after hitting a 52-week low of $76.82 earlier in the session. Meanwhile, Yelp slid 1.6% to $34.40, IAC fell fractionally to $83.83, Electronic Arts added about 1% to $74.15 and activision Blizzard rose 0.5% to $25.93.
08:07 EDTEDConsolidated Edison CEO says interested in M&A, Bloomberg reports
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05:44 EDTEAZillow Group downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Christopher Merwin downgraded Zillow Group (Z) to Underweight saying competition is increasing in local. Underweight is Barclays' equivalent to a sell rating. The real estate and rental marketplace owner closed Friday at $83.27. Merwin believes consensus growth estimates are likely too high heading into Zillow's Q2 results and cut his price target for the stock to $70 from $90. The analyst this morning also downgraded Yelp (YELP) to Equal Weight for similar reasons. His top U.S. Internet picks heading into Q2 earnings season are IAC (IACI), Activision Blizzard (ATVI) and Electronic Arts (EA). Merwin thinks Activision and Electronic Arts will receive more than half of their 2015 revenue from digital.
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