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November 28, 2012
10:00 EDTFTNT, VNO, GDP, PES, PTEN, HERO, NBR, ETR, IAGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Akamai (AKAM) upgraded to Overweight from Neutral at Piper Jaffray... Entergy (ETR) upgraded to Outperform from Neutral at Macquarie... Hercules Offshore (HERO) upgraded to Buy from Hold at Deutsche Bank... IAMGOLD (IAG) upgraded to Overweight from Neutral at HSBC... Nabors Industries (NBR) upgraded to Buy from Hold at Deutsche Bank... Patterson-UTI Energy (PTEN) upgraded to Buy from Hold at Deutsche Bank... Pioneer Energy (PES) upgraded to Buy from Hold at Deutsche Bank... Vornado (VNO) upgraded to Buy from Neutral at Citigroup... Fortinet (FTNT) upgraded to Outperform from Perform at Oppenheimer... Goodrich Petroleum (GDP) upgraded to Outperform from Sector Perform at Oberia.
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October 5, 2015
16:23 EDTETREntergy COO, chief nuclear officer, to retire in 1Q16
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10:24 EDTVNOBofa/Merrill U.S.Office REIT analyst holds an analyst/industry conference call
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06:10 EDTPTENPatterson-UTI reports September average of 99 drilling rigs operating in U.S.
Patterson-UTI reported that for the month of September, the company had an average of 99 drilling rigs operating in the United States and four rigs in Canada. For the three months ended September 30, the company had an average of 105 drilling rigs operating in the United States and four rigs in Canada.
October 2, 2015
15:14 EDTFTNTAs many as 4.6M Scottrade users' data exposed in breach, KrebsonSecurity says
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October 1, 2015
19:24 EDTVNOVornado leases 168,000 sq ft at theMART in Chicago to ConAgra
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September 30, 2015
18:28 EDTNBRCourt says Interior Department lacks authority for fracking rule, WSJ reports
A federal court judge ruled that the Interior Department lacked the authority to institute a stricter rule on fracking, reports the Wall Street Journal, citing Judge Scott Skavdahl's preliminary injunction. Publicly traded companies in the space include Baker Hughes (BHI), IHS Inc. (IHS), Halliburton (HAL), Nabors Industries (NBR), and Weatherford (WFT). Reference Link
10:33 EDTFTNTBattleground: Analysts agree Barracuda shares 'cheap,' diverge on ratings
The shares of Barracuda Networks (CUDA) are falling after the company reported lower than expected revenue and provided weaker than expected guidance. Research firms Piper Jaffray and JPMorgan both said that the shares are cheap in the wake of their huge decline today, though Piper downgraded the shares and JPMorgan kept an Overweight rating on the stock. Barracuda provides IT security and storage solutions, primarily for small and medium businesses. WHAT'S NEW: Barracuda last night reported second quarter earnings per share of 10c, versus analysts' consensus estimate of 9c. The company's revenue, however, came in at $78.4M, below the consensus outlook of $78.7M. Moreover, the company lowered its fiscal 2016 EPS guidance to 34c-36c from 36c-41c. Analysts' consensus estimate was 39c. Barrcuda cut its full-year revenue guidance to $320M-$323M, from $325M-$330M. Analysts' consensus estimate was $325M. The company said that its Q2 results were negatively impacted by longer sales cycles in its Europe, Middle East, and Africa region and it warned that it "saw some evidence" of slowing growth in the storage market. It also stated that its gross billings came in below its expectations. ANALYST REACTION: Piper Jaffray analyst Andrew Nowinski responded to Barracuda's results by downgrading the stock to Neutral from Overweight. Although Barracuda blamed its lower than expected billings guidance on weakness in its storage business, its security billings increased only by high single digit percentage levels, the analyst stated. The shares are "cheap," but the valuation is not compelling enough to recommend the stock, contends Nowinski, who cut his price target for shares to $20 from $40. Barracuda was also downgraded at Macquarie and at Stephens this morning.Conversely, JPMorgan analyst Sterling Auty called Barracuda shares "too cheap to ignore." The company lowered its billings guidance partly due to worries about slowing storage market growth, as indicated by an industry report released last quarter, said Auty. However, the growth of Barracuda's storage business actually accelerated last quarter, reaching about 25%, the analyst stated. He believes that Barracuda's new guidance reflects the company's efforts to be "prudent." Auty cut his price target on the name to $30 from $42 but kept an Overweight rating on the shares. OTHERS TO WATCH: Other publicly traded companies in the IT security space include Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). PRICE ACTION: In early trading, Barracuda tumbled 33% to $15.90.
September 29, 2015
09:29 EDTPES, NBRDeutsche Bank to hold a conference
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September 28, 2015
11:31 EDTNBRDeutsche Bank sees bottom nearing for offshore drillers, upgrades two in space
Detusche Bank upgraded Diamond Offshore (DO) and Transocean (RIG) to Hold from Sell, saying that the companies should be boosted by upcoming reductions in the number of drilling rigs deployed by energy companies. WHAT'S NEW: As many as 180 drilling vessels may cease activity over the next 12-18 months, wrote Deutsche Bank analyst Mike Urban today. The energy sector seems to have become "more realistic" about the need to reduce supply and the offshore drilling industry is "on the cusp of a major restructuring" that should mark the bottom for valuations and pricing, he explained. Addressing the long-term outlook of deepwater drilling, Urban contended that the consensus outlook, which predicts that deepwater drilling will disappear, is incorrect. In ten years, there will be demand for 320 floating rigs, versus the 225 that are active today, Urban predicted. Over the long-term ,energy companies will have to "go where the oil is," and the oil is located in deep water, the analyst explained. He raised his price target on Diamond to $21 from $17 and on Transocean to $10 from $6. WHAT'S NOTABLE: A former executive at Petrobras (PBR) testified to receiving payments made by someone claiming to be an agent of Transocean in exchange for a rig-operation contract, linking the offshore rig contractor for the first time to the corruption probe of Brazil's state-run oil company, reported Bloomberg on September 24. The news outlet cited testimony from last month as its source for the story. Subsequently, Transocean said that it had not identified any wrongdoing by its employees vis-a-vis Petrobras and is "committed to doing business lawfully and with the highest ethical standards." PRICE ACTION: In morning trading, Diamond fell 4% to $17.62 and Transocean lost 1.75% to $12.36. OTHERS TO WATCH: Other oil and gas well drillers include Helmerich & Payne (HP), Ensco (ESV), Nabors Industries (NBR) and Seadrill (SDRL), all of which are in negative territory this morning.
07:25 EDTGDPJohnson Rice to hold a conference
2015 Johnson Rice Energy Conference is being held in New Orleans, Louisiana on September 28-30.
September 27, 2015
14:04 EDTFTNTCybersecurity firms look prime for takeover, Barron's says
Cybersecurity companies like Palo Alto Networks (PANW), Fortinet (FTNT), and FireEye (FEYE) are becoming increasingly-attractive takeover targets for a Cisco (CSCO) or IBM (IBM), and any future dip in their stocks could represent a buying opportunity, Barron's contends in its 'Technology Trader' column. Reference Link
September 24, 2015
10:01 EDTETROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARC Group (ARCW) downgraded to In-Line from Outperform at Imperial Capital... DigitalGlobe (DGI) downgraded to Neutral from Overweight at JPMorgan... Entergy (ETR) downgraded to Sell from Neutral at UBS... Sabra Health Care (SBRA) downgraded to Sector Perform from Outperform at RBC Capital.
07:36 EDTFTNTFortinet checks positive, says Oppenheimer
After conducting checks on Fortinet, Oppenheimer says the checks indicate that the company's results could come in at least at the higher end of its guidance. The firm says that the company continues to benefit from a number of positive catalysts, including more large deals and increased demand for high-end products. The firm keeps a $55 price target and Outperform rating on the stock.
05:35 EDTETREntergy downgraded to Sell from Neutral at UBS
UBS analyst Julien Dumoulin-Smith downgraded Entergy to Sell saying the company's nuclear business is likely to shrink into year-end with potential early retirements of Fitzpatrick and Pilgrim. Dumoulin-Smith is "increasingly concerned" about Entergy's unregulated plant value and cut his price target for shares to $59 from $73. He sees downside risk to consensus estimates for the company.
September 23, 2015
12:36 EDTFTNTGovernment cyber attack affects larger number of fingerprint data
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