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Stock Market & Financial Investment News

News Breaks
November 16, 2011
12:18 EDTZOOM, A, ADSK, ENB, PEIX, ANF, DELL, EPD, UNIS, TSRA, TYC, TGTOn The Fly: Mid-Day Wrap
Stocks on Wall Street were lower at mid-day, as the price of crude spiked above $101. Futures were negative in the pre-market, leading to a lower open for the broader market. The averages moved quickly to the downside right out of the gate, marking session lows and remaining in a lower range for about the first hour of trade. The report on energy inventories from the DOE, followed by the close of trading in Europe, helped spark a move higher, but the attempt to retake the baseline fell flat. Near noon, the market is down about 0.6%, but off its lowest levels of the day... ECONOMIC EVENTS: Domestically, the Consumer Price Index fell 0.08% in October, versus the consensus estimate of unchanged. The "core" CPI, which excludes food and energy, rose 0.14%, versus the consensus estimate of a 0.1% increase. The Federal Reserve said that industrial production rose 0.7% in October. Economists had expected an increase of 0.4%. Capacity utilization also beat estimates, rising to 77.8%, compared with the forecast of 77.6%. The NAHB Housing Market Index had a 20 reading, beating expectations of 18. The DOE report on energy inventories showed that crude inventories dropped by 1.06M barrels, versus the consensus of a 1.20M draw. Gasoline inventories built by 992K barrels, versus the forecast of a 1.00M barrel draw. From Europe, the European Central Bank was believed to have bought Spanish and Italian bonds, though yields on both continue to be very high despite the intervention. Also, in Greece, the country's new Prime Minister passed his first test, winning a confidence vote. In Asia, Japan's central bank lowered its assessment of its economy and kept its key interest rate at virtually zero... MARKET NEWS: An announcement from Enterprise Products Partners (EPD) and Enbridge (ENB) that they would seek regulatory permission to reverse the direction of crude oil flows on the Seaway pipeline sent oil prices higher and the share prices of refiners lower... Target (TGT) reported Q3 adjusted EPS of 87c, soundly beating analyst estimates. Dell (DELL) reported Q3 earnings above estimates, but revenue fell below expectations as the company gave up “low-value” PC opportunities to preserve margins. Among others reporting, winners included Autodesk (ADSK) and Tyco (TYC); losers included Abercrombie & Fitch (ANF) and Agilent (A)... MAJOR MOVERS: Among the notable gainers were Tessera Technologies (TSRA), following Samsung Electronics exercising its renewal option in a license agreement with the company, and Pacific Ethanol (PEIX), after the company announced that it has retired in full its $35M senior convertible notes. Noteworthy losers included Zoom Technologies (ZOOM), after its Q3 revenue missed estimates and the company cut its FY11 revenue view, and Unilife (UNIS), which priced a 8.25M share secondary offering at $4.35... INDICES: Near noon, the Dow was down 77.91, or 0.64%, to 12,018.25; the Nasdaq was down 16.23, or 0.60%, to 2,669.97; and the S&P 500 was down 7.65, or 0.61%, to 1,250.16.
News For EPD;ENB;TGT;DELL;ADSK;TYC;ANF;A;TSRA;PEIX;ZOOM;UNIS From The Last 14 Days
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December 17, 2014
17:44 EDTTGTTarget names Casey Carl as Chief Strategy and Innovation Officer
Target announced that Casey Carl, president, omnichannel and senior vice president, strategy, will assume the role of chief strategy and innovation officer.
December 16, 2014
10:03 EDTTGTTarget initiated with an Outperform at Cowen
Target $85.
09:59 EDTADSKOn The Fly: Analyst Downgrade Summary
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08:48 EDTANFAbercrombie & Fitch signs license agreement with Inter Parfums
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08:26 EDTADSKAutodesk downgraded at BofA/Merrill
As previously reported, BofA/Merrill downgraded Autodesk to Underperform from Neutral. The analyst believes Autodesk shares are piced to perfection and said it is unclear how the planned perpetual license phase-out is progressing. Price target is $56.
08:10 EDTADSKAutodesk a top pick for 2015, says Cowen
Cowen highlighted Autodesk as a top pick for 2015 as the company implements a plan to steer its customers to subscription offerings, which should lead to a wave of perpetual buying in the upcoming years. Cowen reiterated its Outperform rating and $73 price target on Autodesk shares.
06:06 EDTADSKAutodesk downgraded to Underperform from Neutral at BofA/Merrill
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December 15, 2014
12:36 EDTEPDEnterprise Products begins open season for expansion of Panola NGL pipeline
Enterprise Products announced the start of a binding open season to seek shipper support for a proposed expansion of the portion of its Panola Pipeline Company natural gas liquids system between Carthage, Texas and Mont Belvieu, Texas. The project is designed to support Haynesville and Cotton Valley oil and gas producers by providing enhanced access to the world’s largest NGL fractionation complex, located in Mont Belvieu. Originating near Carthage in Panola County, the NGL pipeline system extends 181 miles, serving multiple destination points at Mont Belvieu, including facilities owned and operated by Enterprise. Depending on shipper response to the open season, the Panola expansion project would be designed to accommodate approximately 50,000 barrels per day of incremental capacity. Achieving the additional capacity would involve installing additional pipe, pumps and related equipment. The additional capacity is expected to be available in the first quarter of 2016. The open commitment period begins today at noon CST and will close on Friday, January 16, 2015 at 5 p.m. CST.
December 12, 2014
15:02 EDTEPDEnterprise Products says will not develop proposed Bakken-to-Cushing pipeline
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09:57 EDTANFAbercrombie & Fitch calls active on renewed takeover chatter
Abercrombie & Fitch December 27 and 28 calls are active on total call volume of 3,300 contracts (250 puts) on renewed takeover chatter. December call option implied volatility is at 47, January is at 44, February is at 45; compared to its 26-week average of 44 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
09:50 EDTANFRumor: Abercrombie & Fitch moves up on renewed takeover chatter
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December 11, 2014
08:48 EDTANFAbercrombie an 'extremely attractive' takeover candidate, says FBR Capital
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December 10, 2014
14:57 EDTTSRAAmkor Technology motion to overturn ruling in Tessera suit denied
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10:00 EDTTSRAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with an Underperform at Longbow... AutoZone (AZO) initiated with a Buy at Nomura... C.H. Robinson (CHRW) initiated with a Neutral at Nomura... CSX (CSX) initiated with a Buy at Nomura... CVS Health (CVS) initiated with a Neutral at Citigroup... Canadian National (CNI) initiated with a Neutral at Nomura... Carrizo Oil & Gas (CRZO) initiated with a Buy at Canaccord... CenterPoint Energy (CNP) initiated with a Neutral at Nomura... Con-way (CNW) initiated with a Neutral at Nomura... Cornerstone OnDemand (CSOD) initiated with a Buy at BofA/Merrill... Depomed (DEPO) initiated with an Outperform at RBC Capital... Dollar General (DG) initiated with a Buy at Citigroup... Dollar Tree (DLTR) initiated with a Neutral at Citigroup... Dynagas LNG (DLNG) initiated with a Buy at ABN Amro... EMC (EMC) initiated with a Neutral at JPMorgan... Energy Focus (EFOI) initiated with a Buy at Roth Capital... Expeditors (EXPD) initiated with a Neutral at Nomura... GasLog (GLOG) initiated with a Buy at ABN Amro... Genesee & Wyoming (GWR) initiated with a Neutral at Nomura... Golar LNG (GLNG) initiated with a Sell at ABN Amro... HII Technologies (HIIT) initiated with a Buy at Roth Capital... Hudbay Minerals (HBM) initiated with an Overweight at Barclays... J.B. Hunt (JBHT) initiated with a Buy at Nomura... Kansas City Southern (KSU) initiated with a Buy at Nomura... Kroger (KR) initiated with a Buy at Citigroup... Lear (LEA) initiated with a Buy at Northcoast... Lundin Mining (LUNMF) initiated with an Overweight at Barclays... NetApp (NTAP) initiated with a Neutral at JPMorgan... Norfolk Southern (NSC) initiated with a Neutral at Nomura... PROS (PRO) initiated with an Outperform at Pacific Crest... Qlik Technologies (QLIK)initiated with a Buy at BofA/Merrill... Rentokil (RTOKY) initiated with a Neutral at UBS... Revolution Lighting (RVLT) initiated with a Buy at Roth Capital... ServiceNow (NOW) initiated with a Buy at BofA/Merrill... Stratasys (SSYS) initiated with a Neutral at Longbow... Suburban Propane (SPH) initiated with a Hold at Stifel... Tableau (DATA) initiated with a Buy at BofA/Merrill... Teekay LNG (TGP) initiated with a Buy at ABN Amro... Tessera (TSRA) initiated with a Buy at Sidoti... Union Pacific (UNP) initiated with a Buy at Nomura... Viper Energy (VNOM) initiated with a Buy at Stifel... Visteon (VC) initiated with a Buy at Northcoast... Walgreen (WAG) initiated with a Buy at Citigroup... Werner (WERN) initiated with a Neutral at Nomura.
09:31 EDTTYCTyco acquires Industrial Safety Technologies for $329.5M
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08:28 EDTTSRATessera initiated with a Buy at Sidoti
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December 9, 2014
17:49 EDTANFAbercrombie & Fitch still not a 'buy', Barron's says
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08:50 EDTANFAbercrombie & Fitch CEO Michael Jeffries to retire
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08:48 EDTANFAbercrombie & Fitch CEO to retire
December 8, 2014
10:20 EDTANFOptions with decreasing implied volatility
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