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Stock Market & Financial Investment News

News Breaks
February 26, 2013
15:06 EDTRRC, KAI, PCLN, FSLR, NATL, EIXCompanies reporting After the Market Close on Tuesday, February 26
Notable companies reporting after the bell include Edison International (EIX), First Solar (FSLR), Kadant (KAI), National Interstate (NATL), Priceline.com (PCLN) and Range Resources (RRC).
News For EIX;FSLR;KAI;NATL;PCLN;RRC From The Last 14 Days
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January 30, 2015
12:12 EDTFSLRSeveral solar stocks rise following RBC upgrades
A number of solar energy stocks are rising after RBC Capital upgraded three names in the sector to Outperform from Sector Perform in a note to investors today. WHAT'S NEW: RBC Capital analyst Mahesh Sanganeria upgraded shares of SunPower (SPWR) to Outperform from Sector Perform. New plants being developed by the company should increase its manufacturing capacity, enabling it to benefit from demand increases, the analyst stated, noting that the company has been unable to keep pace with demand. Meanwhile, SunPower could generate $90M-$100M in cash annually and $70M-$80M in cash available for distribution if it forms a yieldco, the analyst estimated. A yieldco would increase SunPower's value by $1.9B, according to Sanganeria. Yieldcos are subsidiaries of energy companies that own power plants and projects and typically trade on stock exchanges. The analyst raised his price target on SunPower to $36 from $35. Sanganeria also upgraded two Chinese solar companies, JA Solar (JASO) and Trina Solar (TSL). JA Solar should be able to outperform the overall solar market by selling more of its products to markets with higher prices, as well as selling a higher percentage of solar modules that attract higher prices, the analyst believes. Global solar installations should increase in the low to mid teen percentage levels, noted the analyst, who raised his price target on JA Solar to $13 from $12. As for Trina Solar, Sanganeria expects the company to benefit from its strong balance sheet, which should help it expand its business. Additionally, the Chinese company should benefit from stable margins, as it cuts costs faster than solar prices decline, according to Sanganeria. Finally, Trina should be able to increase its profit margins in the longer term by building more solar power plants, wrote the analyst, noting that the company's U.K. plants achieved 20% gross margins, above the company's overall mid-teen percentage margins. Sanganeria raised his price target on the name to $13 from $12. OTHERS TO WATCH: Other publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), and Yingli Green Energy (YGE). PRICE ACTION: In early afternoon trading, SunPower climbed 1% to $24.25, Trina Solar gained 2% to $9.05, and JA Solar gained 2% to $8.
January 29, 2015
07:04 EDTPCLNPriceline February volatility elevated into Q4 and outlook
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January 26, 2015
16:26 EDTRRCMarathon Oil, Cobalt, RSP Permian downgraded at UBS
UBS lowered its Brent and WTI forecasts to $52.50 and $49 from $67.50 and $62.50, respectively, and downgraded a number of names in the energy space in conjunction. Along with making changes to its oil price forecasts, UBS downgraded Marathon Oil (MRO), Cobalt (CIE) and RSP Permian (RSPP), all to Neutral from Buy. The firm also identified ConocoPhillips (COP), Devon Energy (DVN), Murphy Oil (MUR), Ultra Petroleum (UPL), Range Resources (RRC), Denbury Resources (DNR), and Magnum Hunter (MHR) as having high valuations, slowing growth and wide free cash flow deficits and said it was cautious on all of those names as well.
12:08 EDTPCLNPriceline price target lowered to $1,235 from $1,360 at Atlantic Equities
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11:50 EDTFSLRSolar names rise after Obama pledges U.S. help for Indian solar push
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10:28 EDTFSLRIndia's Mahnidra to add 500 MW of solar energy, Reuters says
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06:48 EDTFSLRTax credit, loan guarantee changes could hurt solar energy, NY Times says
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January 23, 2015
07:21 EDTPCLNDeutsche cautious on travel stocks into Q4 results
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January 20, 2015
14:09 EDTPCLNOrbitz jumps after Bloomberg says company may be exploring sale
Shares of online travel agency Orbitz Worldwide (OWW) are jumping after Bloomberg reported that the company is exploring the possibility of selling itself. In a note to investors on January 7, research firm FBR Capital wrote that the company could be acquired for over $10 per share, WHAT'S NEW: Orbitz is exploring a potential sale and private equity firms have expressed interest in acquiring the online travel agency, Bloomberg reported today. ANALYST VIEW: On January 7, research firm FBR Capital estimated that Orbitz could be acquired for $10.27 per share. The firm noted that a trade publication, Tnooz.com, had reported that Orbitz could be considering selling itself. Expedia (EXPE) and Priceline (PCLN) could each pay a premium of 30%-plus for Orbitz and still see their profits rise from the acquisition, FBR added. It kept a $9 price target and Outperform rating on Orbitz. PRICE ACTION: In mid-afternoon trading, Orbitz climbed 69c, or 7.5%, to $9.85.
13:51 EDTPCLNOrbitz draws private equity interest as sale explored, Bloomberg says
Orbitz Worldwide (OWW) is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and "other Internet companies," according to Bloomberg, citing people with knowledge of the matter. Shares of Orbitz are up over 10% after the report, while several other names in the online travel space, such as Priceline (PCLN), Expedia (EXPE), and TripAdvisor (TRIP) are also moving. Reference Link
13:43 EDTPCLNExpedia, TripAdvisor tick higher after report on Orbitz sale exploration
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11:03 EDTFSLRStocks with call strike movement; FSLR NE
First Solar (FSLR) January call option implied volatility increased 5% to 48, Noble Corp. (NE) June 18 call option implied volatility increased 9% to 53 according to IVolatility.
09:17 EDTKAIKadant receives $11M in orders for recycling and chemical pulping equipment
Kadant announced that at the end of Q4 it received orders totaling $11M from three pulp and paper producers in the U.S. and Mexico for chemical pulping equipment and recycling system upgrades. The chemical pulping equipment will be used to recover chemicals in the kraft pulping process and the stock-preparation recycling systems will be used to process recycled fiber for use in paper production. The company expects to report consolidated bookings for Q4 of approximately $103M.
08:43 EDTRRCRange Resources downgraded to Neutral from Buy at SunTrust
SunTrust downgraded Range Resources to Neutral to reflect a lower commodity price deck forecast and impact from lower spending. Price target lowered to $55 from $85.
07:30 EDTRRCRange Resources upgraded to Buy from Accumulate at KLR Group
Price target $73.

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