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Stock Market & Financial Investment News

News For FINL;MOS;POT;AGU;SCTY;HNR;ARAY;CSTR From The Last 14 Days
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January 28, 2016
08:36 EDTSCTYAttractive risk/reward developing in SolarCity, says Roth Capital
Roth Capital says that an attractive risk/reward ratio is developing in SolarCity, whose stock has dropped about 40% this year. However, the firm says that the company "will not be out of the woods" until California finalizes its net metering rules. The firm thinks the final net metering rules will be positive for SolarCity, but it's unsure about when the rules will be finalized, although it thinks they could be finalized later today. It keeps a $65 price target and Buy rating on SolarCity.
06:07 EDTPOTPotash down 3.8% after reporting Q4 results
06:06 EDTPOTPotash sees FY16 EPS 90c-$1.20, consensus $1.34
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06:05 EDTPOTPotash sees Q1 EPS 10c-20c, consensus 29c
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06:04 EDTPOTPotash reports Q4 EPS 24c, consensus 30c
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January 27, 2016
14:34 EDTPOTNotable companies reporting before tomorrow's open
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12:05 EDTPOTEarnings Watch: Potash shares down 28% since Q3 report
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January 26, 2016
10:24 EDTSCTYNevada may let rooftop solar customers sell back power, Politico reports
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January 25, 2016
18:45 EDTSCTYNV Energy to propose 'grandfathering' rule in Nevada solar scuffle
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13:25 EDTPOTPotash volatility elevated into Q4 and outlook
Potash January weekly call option implied volatility is at 71, February is at 51; compared to its 52-week range of 17 to 45, suggesting large near term price movement into the expected release of Q4 results on January 26.
13:08 EDTPOT, MOSPotash slips as analyst casts doubt on dividend
Feed and fertilizer companies Mosaic (MOS) and Potash Corp. (POT) are both trading lower after being cut to Neutral from Overweight at JPMorgan, with the research firm calling into question Potash's dividend yield in the face of weak pricing for its staple commodity products. DIVIDEND DOUBT: As lower nitrogen and potash prices pressure cash flows, Potash Corp. looks reasonably likely to cut its dividend down to $1.00 per share from $1.52 during 2016, JPMorgan analyst Jeffrey Zekauskas argued Tuesday. Zekauskas clarified, however, that the fertizilier company has "wide discretion" as to whether it might actually continue to pay its current dividend, given its $3B in monetizable equity and a healthy balance sheet that could allow additional leverage. That said, the analyst's base case is that Potash will shrink the dividend amid the industry's cyclical downturn, leading him to lower his rating on the stock to Neutral and significantly cut his 2016 earnings predictions to $1.10 from $1.45. MOSAIC: Zekauskas also lowered his rating on Mosaic to Neutral while slashing his 2016 EPS estimates to $1.85 from $2.75, citing weaker prices for potash and phosphate. Unlike Potash Corp., Mosaic looks unlikely to cut its roughly 4.6% dividend yield, the analyst said. Zekauskas maintained that both companies remain attractive for longer-term value investors, saying he plans to review their ratings after Potash potentially rethinks its dividend and Wall Street financial estimates move lower. CEO COMMENTS: Speaking at the January 21 CIBC investor conference, Potash CEO Jochen Tilk stated, "We obviously believe -- and I'm sure you concur -- that the dividend is an important part of our company. And [when] we look at the cash ability that we have in 2016, the first goal is to be prudent with our balance sheet... More specifically to the dividend, I can't talk because we have our board meetings next week... It's on the agenda. It's a big discussion. We've done a lot of work in the analysis. We've done exactly what you say. We've done all the work that leads to the visibility to our balance sheet." PRICE ACTION: Shares of Potash Corp. have fallen roughly 6.7% to $15.02, while Mosaic is down 5.7% to $22.50.
10:00 EDTMOS, POTOn 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.
06:24 EDTMOS, POTMosaic downgraded to Neutral from Overweight at JPMorgan
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06:21 EDTPOTPotash downgraded to Neutral from Overweight at JPMorgan
JPMorgan analyst Jeffrey Zekauskas downgraded Potash (POT) to Neutral saying there is a "reasonable probability" that the company will reduce its dividend from $1.52 to $1.00 per share in 2016. The current dividend was set during a period of cyclical strength, unlike today's business landscape, Zekauskas tells investors in a research note. He cut his price target for Potash shares to $16 from $23.
05:45 EDTSCTYSolarCity implied volatility of 116 at upper end of index mean range
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January 22, 2016
11:13 EDTSCTYBarclays bullish on solar, likes SolarCity, SunPower, First Solar
Calling the outlook on solar energy "broadly positive," Barclays today initiated coverage on SolarCity (SCTY) with an Overweight rating and upgraded SunPower (SPWR) to Overweight from Neutral. The firm, however, continues to identify First Solar as its top pick in the space. SunPower and First Solar develop solar components and solar power systems, while Solar City specializes in installing solar panels on rooftops. WHAT'S NEW: Following the extension of the 30% U.S. solar investment tax credit, or ITC, Barclays analyst John Windham increased his 2020 U.S. solar demand outlook by 33% to 57 gigawatts. The extension will result in "more orderly demand growth," he believes. Meanwhile, the recent declines in energy prices has created an attractive entry point in solar stocks, the analyst stated. In the wake of the ITC extension, SolarCity will be able to meet its 2016 guidance for 40% year-over-year growth in its installations, Windham believes. Moreover, the company will be able to meet the guidance without having to increase its customer acquisition costs, he stated. Warning that SolarCity still requires constant outside capital to fund its growth, Windham nonetheless set a $49 price target on the shares. SunPower is well-capitalized and should benefit from increased U.S. solar demand, Windham believes. He increased his price target on the name to $32 from $26. First Solar is also well-capitalized, and should benefit from the U.S. government's Clean Power Plan, as utilities will look to partner with First Solar in order to meet the plan's goals, the analyst stated. The plan will "drive strong growth" for inexpensive, large-scale solar projects in new U.S. markets, such as the Southeast, Windham believes. He kept a $90 price target and Overweight rating on the shares. PRICE ACTION: In late morning trading, SunPower climbed 3.4% to $23.66, SolarCity gained 1.2% to $32.14 and First Solar rose 2% to $64.45.
09:30 EDTSCTYOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: CVS Health (CVS) initiated with an Outperform at Baird... Cognex (CGNX) initiated with an Outperform at Raymond James... Ctrip.com (CTRP) initiated with a Buy at Nomura... First Industrial Realty (FR) initiated with a Buy at Jefferies... Kura Oncology (KURA) initiated with an Outperform at JMP Securities... Matador (MTDR) initiated with an Outperform at Iberia... NetEase (NTES) initiated with a Neutral at Nomura... Praxair (PX) reinstated with an Underperform at BofA/Merrill... Primerica (PRI) initiated with an Outperform at William Blair... Prologis (PLD) initiated with a Hold at Jefferies... RAIT Financial (RAS) initiated with an Outperform at FBR Capital... STAG Industrial (STAG) initiated with a Hold at Jefferies... SolarCity (SCTY) initiated with an Overweight at Barclays... Sprouts Farmers Markets (SFM) initiated with an Outperform at Wells Fargo... Sunrun (RUN) initiated with an Overweight at Barclays... Terreno Realty (TRNO) initiated with a Hold at Jefferies... Tower Semiconductor (TSEM) initiated with a Strong Buy at Needham... Unique Fabricating (UFAB) initiated with a Buy at B. Riley... Walgreens Boots Alliance (WBA) initiated with an Outperform at Baird.
06:20 EDTPOT, AGU, MOSPotash CEO: Mine closure may table Canpotex plans, Reuters says
Potash (POT) may table plans to build a new West Coast shipping terminal with partners Mosaic (MOS) and Agrium (AGU) as a result of the suspension of production at an eastern Canadian mine, Reuters reports, citing Potash CEO Jochen Tilk. Canpotex, owned by the three groups, has been mulling construction of the terminal at Prince Rupert, BC, the report says. Reference Link
05:41 EDTSCTYSunPower upgraded to Overweight from Equal Weight at Barclays
Barclays analyst Jon Windham upgraded SunPower (SPWR) to Overweight and raised his price target for the shares to $32 from $26. The analyst expects U.S. solar demand to remain robust through 2020. His top pick in the space is First Solar (FSLR). Windham initiated this morning both SolarCity (SCTY) and Sunrun (RUN) with Overweight ratings.
05:39 EDTSCTYSolarCity initiated with an Overweight at Barclays
Barclays analyst Jon Windham started SolarCity with an Overweight rating and $49 price target. The analyst expects U.S. solar demand to remain robust through 2020.
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