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Stock Market & Financial Investment News

News Breaks
March 19, 2014
10:17 EDTEPD, GCI, JNPR, LFL, MMYT, RBC, TEVA, RIGOn The Fly: Analyst Upgrade Summary
Enterprise Products (EPD) upgraded to Outperform from Neutral at Credit Suisse... Gannett (GCI) upgraded to Equal Weight from Underweight at Barclays... Juniper (JNPR) upgraded to Outperform from Market Perform at Wells Fargo... LATAM Airlines (LFL) upgraded to Strong Buy from Outperform at Raymond James... MakeMyTrip (MMYT) upgraded to Outperform from Perform at Oppenheimer... Regal-Beloit (RBC) upgraded to Outperform from Neutral at RW Baird... Teva (TEVA) upgraded to Neutral from Sell at Goldman... Transocean (RIG) upgraded to Neutral from Sell at Citigroup.
News For EPD;GCI;JNPR;LFL;MMYT;RBC;TEVA;RIG From The Last 14 Days
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August 15, 2014
11:15 EDTGCIVringo falls after patent win against Google, AOL reversed on appeal
The U.S. Court of Appeals for the Federal Circuit that patents claims asserted by I/P Engine, a unit of Vringo (VRNG), are invalid for obviousness and reversed a lower court's ruling in the company's favor. The patents were asserted in a suit against Google (GOOG) and Aol (AOL), IAC Interactive (IACI) and Gannett (GCI). Vringo shares dropped nearly 11% following the posting of the appeal court ruling. Reference Link
09:10 EDTGCIOn The Fly: Pre-market Movers
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August 14, 2014
17:32 EDTGCIIcahn Associates gives quarterly update on stakes
NEW STAKES: Gannett (GCI). INCREASED STAKES: Navistar (NAV), eBay (EBAY), and Icahn Enterprises (IEP). DECREASED STAKES: Netflix (NFLX). LIQUIDATED STAKES: Forest Laboratories (FRX).
17:26 EDTGCIGannett up 6% after Icahn reports 6.63% stake, urges split
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17:25 EDTGCIIcahn reports 6.63% stake in Gannett, plans talks on potential split of company
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17:16 EDTGCIIcahn reports 6.63% stake in Gannett, urges split of company
17:08 EDTTEVASoros Fund Management gives quarterly update on stakes
NEW STAKES: CONSOL Energy (CNX), Google (GOOG), Level 3 (LVLT), Time Warner (TWC), and New Oriental (EDU). INCREASED STAKES: YPF SA (YPF), Apple (AAPL), Facebook (FB), AIG (AIG), and American Airlines (AAL). DECREASED STAKES: Teva (TEVA), Liberty Global (LBTYK), Barrick Gold (ABX), EQT (EQT), and Comcast (CMCSA). LIQUIDATED STAKES: FedEx (FDX), Monster Beverage (MNST), Google (GOOGL), Devon Energy (DVN), Marathon Petroleum (MPC).
12:58 EDTTEVA, JNPRJANA Partners gives quarterly update on stakes
NEW STAKES: Apache (APA), FMC Corp (FMC), Civeo (CVEO), PetSmart (PETM), and Charter Communications (CHTR). INCREASED STAKES: Actavis (ACT), AIG (AIG), Mallinckrodt (MNK), HD Supply (HDS), and American Capital (ACAS). DECREASED STAKES: Liberty (LVNTA), Oil States International (OIS), eBay (EBAY), Liberty Media (LMCA), and Liberty Interactive (LINTA). LIQUIDATED STAKES: Sirius XM (SIRI), Juniper (JNPR), Golar LNG (GLNG), Outerwall (OUTR), and Teva (TEVA).
12:31 EDTJNPRCisco shares trade lower as company announces 6,000 job cuts
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August 13, 2014
14:54 EDTJNPREarnings Preview: Cisco reports following Deutsche upgrade, Pac Crest downgrade
Cisco Systems (CSCO) is scheduled to report fourth quarter results after the market close on Wednesday, August 13, with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 53c on revenue of $12.14B, according to First Call. The consensus range for EPS is 51c-54c on revenue of $11.8B-$12.25B. Along with its last quarterly report, Cisco guided to Q4 adjusted EPS of 51c-53c and said it expects its revenue to be down 1% to 3% in the quarter compared to the prior year. At that time, the company also said it sees its FY14 adjusted EPS to come in at the higher end of its previously communicated $1.95-$2.05 range. LAST QUARTER: On May 14, Cisco reported third quarter adjusted EPS of 51c, beating the consensus analyst forecast of 48c. It's revenue came in at $11.5B, topping the $11.38B consensus forecast. Cisco reported a Q3 adjusted gross margin of about 62.7%. NEWS: On June 17, Cisco announced its intent to acquire privately held Tail-f Systems, whose products help service providers and enterprise IT organizations easily and cost-effectively implement applications, network services and solutions across networking devices. Upon completion of the acquisition, which is expected to be complete in Q4, Tail-f employees will join Cisco's Cloud and Virtualization Group. About two weeks later, tech blog Gigaom reported that Cisco has acquired British firm Assemblage for technology that uses real-time collaboration that does not require the user to download programs or plug-ins. On July 15, Cisco announced a multi-year sales and go-to-market agreement with Microsoft (MSFT) designed to modernize data centers through the delivery and acceleration of integrated solutions. Cisco and Microsoft will both invest in sales, marketing and engineering resources to drive global alignment, while delivering deeper technology integration across cloud and data center markets, the companies stated. STREET RESEARCH: On May 21, Northland said that after speaking with Cisco's management and attending Cisco Live, the firm believed that the company is taking share form Arista Networks (ANET), which has since come public. The firm added that it did not believe that Juniper (JNPR) has gained traction in data center switching and it recommended Cisco as a cyclical recovery play and a relative bargain to peers. About a week later, Deutsche Bank upgraded its rating on Cisco shares to Buy from Hold, citing expectations that the company's new product ramps in FY15 and FY16 will be stronger than expected. Deutsche said then that it saw upside to consensus estimates and raised its price target for Cisco shares to $30 from $25. On July 28, Pacific Crest downgraded its rating on Cisco shares to Sector Perform from Outperform, citing valuation and concern that the company's margin expansion could moderate in 2015. The firm believes Cisco shares are fairly valued at $26. Less than a week ago, Morgan Stanley said its checks indicate the enterprise market is improving. The firm said it expects Cisco's outlook to be conservative and said concerns over rapid software-defined networking adoption and margin impact are overblown. Morgan Stanley has an Overweight rating with a $30 price target on Cisco. PRICE ACTION: In the last three months, Cisco has advanced about 9.5%. In afternoon trading ahead of tonight's report, Cisco shares are down 0.5% to $25.01.
10:14 EDTJNPREZchip sees Q3 revenue ex-items in $22M range, consensus $22.07M
EZchip (EZCH) will continue to see some level of revenue from Juniper (JNPR) for the remainder of FY14 and beyond. Comments taken from the company's Q2 earnings conference call
10:01 EDTMMYTOn The Fly: Analyst Initiation Summary
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05:58 EDTMMYTMakeMyTrip initiated with a Buy at Jefferies
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August 12, 2014
18:38 EDTLFLLATAM Airlines reports Q2 operating net income ($58.9M), consensus (6c)
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09:19 EDTJNPRJuniper CFO says seeing 'good, healthy demand' in many areas
Denholm repeats that some customers, mainly in North America, have slowed their CapEx plans. Denholm says its "a little bit early" to talk about the company's FY15 revenue outlook, but noted that the company is "pretty constructive" on growth in 2015. Juniper Networks CFO/COO Robyn Denholm continues speaking at the Oppenheimer Technology, Internet & Communications Conference.
09:06 EDTJNPRJuniper sees reaching $2B in share repurchases by year-end
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August 10, 2014
18:36 EDTGCITake profits in Gannett, Barron's says
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August 8, 2014
17:10 EDTGCIMarket finishes week up slightly as earnings offset by political events
Stocks finished the week fractionally higher than where they started as strong corporate earnings reports and better than expected economic data was weighed against concerns about geopolitical issues and negative M&A news. MACRO NEWS: A few ongoing geopolitical conflicts worried investors and weighed on shares. Russia unveiled sanctions against Western countries, banning the import of a wide range of food items from the U.S, the EU and a few allied countries in response to sanctions recently enacted against it from G7 nations... President Obama authorized the bombing of rebels in Iraq and Hamas and Israel failed to reach a permanent truce... An ISM services index, the U.S. trade deficit for June, and weekly jobless claims were all better than expected. Meanwhile, the increase in unit labor costs last quarter came in below the consensus outlook, perhaps easing fears that the Fed will need to raise interest rates sooner than expected. COMPANY NEWS: On the M&A front, two huge potential deals fell through as 21st Century Fox (FOX, FOXA) withdrew its offer to acquire Time Warner (TWX) and Sprint (S) reportedly decided to end its pursuit of a merger with peer T-Mobile (TMUS)... President Obama indicated that his administration would take unilateral steps in an effort to prevent companies from carrying out tax inversion acquisitions. Among the deals or possible transactions that involve inversion are Medtronic's (MDT) acquisition of Covidien (COV), Valeant's (VRX) proposed takeover of Allergan (AGN) and Mylan's (MYL) acquisition of Abbott's (ABT) developed markets branded generics pharmaceuticals business. Meanwhile, Walgreen's (WAG) stock tumbled after the U.S. company said it would not structure its takeover of European drugstore chain Alliance Boots as a tax inversion deal... 21st Century Fox, 3D printer maker Stratasys (SSYS), chip maker NVIDIA (NVDA), brewer Molson Coors (TAP), and luxury accessories maker Coach (COH) all rose following their earnings reports. Conversely, Target (TGT), luxury accessories maker Michael Kors (KORS) and Internet coupon provider Groupon (GRPN) fell following their results or guidance... Gannett (GCI) struck a deal to acquire the remaining 73% interest in Classified Ventures, whose primary asset is the online car shopping website Cars.com, for $1.8B from the other partners in the venture, which include McClatchy (MNI), Tribune Media (TRBAA), Graham Holdings (GHC) and A. H. Belo (AHC). Gannett also announced plans to spin-off its Publishing business, which includes USA Today, through a tax-free distribution to shareholders... McDonald's (MCD) stock was little changed after the company reported that its comparable store sales fell 2.5% in July, which was significantly worse than expected. Food quality issues weighed on the fast food company's sales in Asia and as a result of the China supplier issue, the company warned its previously issued global comparable sales forecast for 2014 is now at risk. INDEXES: The Dow finished the week up 0.35% to 16,553.93, the S&P 500 rose 0.32% to 1,931.59, and the Nasdaq gained 0.41% to 4,370.90.
16:40 EDTLFLLATAM Airlines reports preliminary July traffic down 1.4%
LATAM Airlines Group S.A. reported its preliminary monthly traffic statistics for July compared to July 2013. System passenger traffic decreased by 1.4% while capacity decreased by 3.2%. As a result, the company's load factor for the month increased 1.6 points to 84.7%. International passenger traffic accounted for approximately 51% of the month's total passenger traffic. Domestic passenger traffic in LATAM Airlines Group's Spanish speaking operations - Chile, Argentina, Peru, Ecuador and Colombia- rose 5.0%, while capacity increased by 2.1%. As a consequence, the domestic passenger load factor increased 2.2 points to 80.9%. Domestic passenger traffic in Brazil decreased by 7.8%, while capacity decreased by 7.0%. As a consequence, the domestic Brazil passenger load factor decreased 0.7 points to 83.8%. International passenger traffic increased by 1.3%, while capacity decreased by 2.2%. Accordingly, the international passenger load factor for the month increased 3.0 points to 86.6%. International traffic includes international operations of both LAN and TAM on regional and long haul routes.
15:37 EDTJNPRJuniper management to meet with SunTrust
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