|November 28, 2012|
|12:19 EDT||TFM, COST, ARO, EXPR, KCG, BP, ANN, JOSB, GMCR, GES, AEO||On The Fly: Midday Wrap |
Stocks on Wall Street were lower for much of the morning before recovering significantly near midday. Just as a late day sell-off yesterday was prompted by some cautious fiscal cliff commentary from a notable politician, today's turn-around was sparked by optimism from one. In today's case, the averages turned following comments from House Speaker John Boehner, who said he's "optimistic" a deal with Obama can be reached and that he is willing to put revenues on the table if accompanied by spending cuts... ECONOMIC EVENTS: In the U.S., new single-family home sales fell 0.3% in October to a seasonally adjusted 368,000-unit annual rate. Also, the government revised sharply lower its estimate for the prior month's sales, cutting its estimate for sales in September by 20,000 to a 369,000-unit rate. The EIA reported crude oil inventories drew down by 347,000 barrels last week, versus expectations for a 350,000 barrel build up. In Europe, Spainís bank restructuring was approved, paving the way for euro zone aid to be disbursed... COMPANY NEWS: The Environmental Protection Agency announced BP (BP) will be suspended from winning new contracts from the federal government until the oil major can demonstrate it meets business standards set by the U.S., though the action does not affect existing contracts. Shares of BP fell about 0.7% near noon... Several apparel retailers reported better than expected results and saw their shares advance, including Express (EXPR), American Eagle Outfitters (AEO) and Ann Inc. (ANN). This may or may not bode well for some of their peers expected to report after the bell, including Aeropostale (ARO) and Guess (GES)... Costco (COST) shares rose over 4% after reporting its November same store sales rose 6% and declaring a $7 per share special dividend... MAJOR MOVERS: Among the notable gainers was Green Mountain Coffee Roasters (GMCR), which soared 24% after its better than expected earnings and guidance set off a wave of price target increases around the Street. Also higher were shares of Knight Capital (KCG), which rose 14% to $3.39 after shareholder Getco proposed a complex takeover bid that values shares at $3.50 apiece but involves a cash component and a share dispersal following a merger. Among the noteworthy losers was The Fresh Market (TFM), down 14% after its CFO unexpectedly resigned to take another position and its shares were downgraded at Deutsche Bank and Northcoast. Also lower were shares of Jos. A Bank (JOSB), down 7% after it was unable to participate in the rally among clothing retailers as its revenue beat consensus but its earnings fell short... INDICES: Near noon, the Dow was up 16.36, or 0.13%, to 12,894.49; the Nasdaq was down 2.31, or 0.08%, to 2,965.48; and the S&P 500 was down 0.88, or 0.06%, to 1,398.06.
News For EXPR;AEO;ANN;ARO;GES;BP;COST;GMCR;KCG;TFM;JOSB From The Last 14 Days
|February 1, 2016|
|13:49 EDT||BP||S&P cuts rating on Shell, puts several other EU oil majors on watch|
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|11:45 EDT||BP||Kinder Morgan closes acquisition of 15 BP terminals|
Kinder Morgan, Inc. (KMI) closed the previously announced plan to acquire 15 refined products terminals from BP Products North America (BP) in a transaction valued at approximately $350M. Kinder Morgan and BP Products North America have also formed a joint venture limited liability company terminal business to own 14 of the acquired assets, which Kinder Morgan will operate and market on the JV's behalf. The fifteenth terminal will be owned and operated solely by KMI. In connection with the transaction, BP has entered into commercial agreements securing long-term storage and throughput capacity from the JV, which will market additional capacity to third-party customers. Kinder Morgan owns a 75% interest in the JV, with BP owning the balance. This investment is included in Kinder Morgan's 2016 capital plan as discussed in its Jan. 27 investor conference, the company noted.
|10:19 EDT||BP||BP appoints Lamar McKay to deputy group chief executive|
BP announced the appointment of Lamar McKay to the new position of Deputy Group Chief Executive. McKay, currently chief executive of BP's Upstream segment and a 35-year veteran of BP, will be based in London and take up the role following a suitable handover period. McKay will be succeeded as Upstream chief executive by Bernard Looney, currently chief operating officer, production, in the Upstream segment. In addition to assuming some duties currently borne by BP's Group Chief Executive, McKay's responsibilities will include strategy and long-term planning, safety and operational risk, technology, and corporate governance - including ethics and compliance. BP America will continue to report to him. These appointments headline a reorganisation of BP's executive team that includes other adjustments which will follow the retirement of Katrina Landis, executive vice president of corporate business activities, who leaves the company on May 1 following a career of 24 years with BP. Landis will not be replaced on the executive team and her current role's responsibilities will be assigned to other members of the team. Reference Link
|08:19 EDT||GMCR||Keurig Green Mountain will not be issuing Q1 earnings or updating guidance|
As previously disclosed, on December 6, 2015, Keurig Green Mountain entered into an Agreement and Plan of Merger by and among Acorn Holdings B.V., a private limited liability company incorporated under the laws of the Netherlands, Maple Holdings Acquisition Corp.. Due to the pending Merger, the company is neither updating nor reaffirming its prior earnings guidance, and will not be issuing a fiscal first quarter 2016 earnings release or holding a fiscal first quarter 2016 earnings call for investors and financial analysts.
|07:36 EDT||COST||Costco weakness creates buying opportunity, says Sterne Agee CRT|
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|January 29, 2016|
|14:39 EDT||ARO||Aeropostale by-law change suggests potential for 'go-private' deal, says Stifel|
Stifel analyst Richard Jaffe noted that Aeropostale amended and restated its by-laws earlier this week so that any director, or the entire board, may be removed, with or without cause, by the holders of a majority of the shares, which he believes makes the possibility of the company getting bought out, perhaps in a "go-private" deal led by Sycamore, both easier and more likely. However, Jaffe keeps a Hold rating on shares as he believes the stock is fully valued based on its fundamentals.
|12:24 EDT||GMCR||Citron sees Monster Beverage shares hitting $80 in near term|
Shares of Monster Beverage (MNST) are likely to hit $80 in the near term, Citron Research writes in a new research report on the energy drink maker. The short-selling research firm says valuing Monster versus Dr Pepper Snapple (DPS) results in 48% downside for the stock. "For the sake of the benefit of the doubt we used the post GMCR takeout value as a benchmark to get to $80 a share for Monster," Citron states. Monster shares are down $7.15, or 5%, to $130.05 in midday trading. Reference Link
|11:54 EDT||GES||Guess to implement program to eliminate angora fiber |
The company noted, "During 2015, while developing our sustainability practices and publishing our first sustainability report, GUESS evaluated our practices related to the use of angora fibers. As a result of this process, GUESS is implementing a program to eliminate angora fiber from our future collections available in retail stores worldwide." GUESS CEO, Victor Herrero stated, "While in the past, GUESS has worked to ensure the minimal amount of angora used was ethically sourced, we feel the decision to eliminate angora moving forward is just the right thing to do."
|10:05 EDT||GES||Guess says angora fiber 'should not be used' in production of any product|
Guess?, Inc. announces that during 2015, while developing our sustainability practices and publishing its first sustainability report, it evaluated our policy related to the use of angora fiber. The company comments: "Effective immediately, angora fiber should not be used in the production of any product going forward or contained in any private label products. This pertains to promotional items as well."
|09:34 EDT||COST||Costco mentioned cautiously at Cleveland Research|
|07:36 EDT||BP||Analysts still predicting mergers as oil slump drags on, WSJ reports|
Bankers and analysts have been predicting a wave of merger activity will come almost since crude prices began to fall from over $100 a barrel, but the only big acquisition by an oil major so far has been Shell's (RDS.A) purchase of BG Group (BRGYY), said The Wall Street Journal, which added that analysts still believe deal-making is likely to return this year if prices continue to languish. With Chevron (CVX) set to report today and its big peers soon to follow, analysts are expecting the four biggest publicly traded Western oil companies to have their weakest combined profits since 1998, the Journal noted. The report noted that U.S. shale oil producers, such as Apache (APA) and Whiting Petroleum (WLL), were previously targeted though potential sellers were reluctant to accept offers as they hoped for a rebound in oil prices and potential buyers wondered if any deal struck would look expensive if crude prices fell further, but "both impediments are gone now," the Journal contends. Reference Link
|January 28, 2016|
|14:13 EDT||COST||Earnings Watch: Visa to report after co-brand wins, Visa Europe deal|
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|10:55 EDT||BP||OPEC delegates say no plan for meeting Russia about production, Bloomberg says|
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|10:32 EDT||GMCR||Options with increasing implied volatility: RAD GMCR|
|January 27, 2016|
|12:35 EDT||BP||BP management to meet with Evercore ISI|
Meeting to be held in New York on February 3 hosted by Evercore ISI.
|10:36 EDT||GMCR||Options with increasing implied volatility: SNDK GMCR|
|January 26, 2016|
|10:48 EDT||GMCR||TreeHouse may benefit from strategy shifts, says Detwiler Fenton|
Detwiler Fenton said TreeHouse (THS) may benefit from Keurig Green Mountain's (GMCR) and Starbucks' (SBUX) focust shift into new products. Keurig Green Mountain dropping of its private-label business opens the door for TreeHouse to take market share, the firm's analyst said. Detwiler sees TreeHouse benefiting from Starbucks' shifts away from Keurig Green Mountain and into other product opportunities.
|10:32 EDT||GMCR||Options with increasing implied volatility: CLDX SNDK GMCR RAD|
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|January 25, 2016|
|10:00 EDT||AEO||On The Fly: Analyst Downgrade Summary|
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
|08:55 EDT||AEO||American Eagle downgraded to Hold from Buy at BB&T|
BB&T downgraded American Eagle based on valuation.