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Stock Market & Financial Investment News

News Breaks
April 15, 2014
10:17 EDTGWW, FSL, SPR, MHFI, GDPHigh option volume stocks: FSL GDP SPR GWW MHFI
News For FSL;GDP;SPR;GWW;MHFI From The Last 14 Days
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February 4, 2016
16:47 EDTMHFIOn The Fly: Top stock stories for Thursday
Stocks had a roller coaster session, moving in a wide range and crossing the flat line several times during the day as the market continues to move in conjunction with the price of oil. Early in the session oil prices met resistance near $34 a barrel and equities were up by triple digits. When the price of crude pulled back, equities followed suit and ultimately turned negative. Oil prices struggled during the afternoon hours and closed down for the day. However, the averages drifted higher into the close and finished in the green. ECONOMIC EVENTS: In the U.S., the Labor Department said that productivity fell at an annual rate of 3% in the fourth quarter, marking the biggest quarterly decline in nearly two years and worse than the expected decline of 2%. Labor costs rose 4.5% in the fourth quarter, versus expectations for an increase of 4.3%. Initial jobless claims rose to 285,000 in the week ended January 30, versus expectations for 277,000 first-time claims. Factory orders declined 2.9% in December, versus expectations for them to be down 2.8% for the month. In Europe, the European Commission lowered its 2016 economic growth forecast for the 19-nation single currency area to 1.7% from the 1.8% expansion the commission had forecast in November. The Bank of England also cut its economic growth forecasts, saying it now expects Britain's economy to grow 2.2% this year and 2.3% next year, which is down from the 2.5% growth for 2016 and 2.6% in 2017 that it previously predicted. Additionally, the BoE maintained its bank rate and held the size of its asset purchase program steady. COMPANY NEWS: Shares of GoPro (GPRO) sunk to all-time lows after the action camera maker reported fourth quarter revenue that fell $60M short of expectations and guided first quarter revenue even further below analyst forecasts. The stock fell as low as $9.01 early in the session before ending the day down 8.68% at $9.78. Ambarella (AMBA), a chip supplier that has often traded in tandem with GoPro in the past, gained 5.13% to $39.35, with several analysts highlighting the company's healthy business outside of GoPro... Sumner Redstone stepped down as executive chairman of both CBS (CBS) and Viacom (VIA, VIAB), being replaced by the CEOs of the companies in both cases. CBS shares were up 0.31% after Leslie Moonves was named the next chair of its board, while Class A shares of Viacom were up 2.33% after Philippe Dauman was selected to succeed Redstone... Mattel (MAT) and Hasbro (HAS) gained a respective 1.67% and 1.2% following Bloomberg's report that the two toymakers have held intermittent merger discussions after Hasbro approached its peer late last year. MAJOR MOVERS: Among the notable gainers was Cascade Microtech (CSCD), which spiked 32.26% to $20.21 after agreeing to be acquired by FormFactor (FORM) for $16 per share. FormFactor declined 12.61% following the news. Also higher was VirnetX (VHC), which soared 46.14% to $7.00 after being awarded $625.6M in a patent dispute against Apple (AAPL). In addition, GrubHub (GRUB), McGraw Hill (MHFI) and Buffalo Wild Wings (BWLD) rose 12.8%, 7.7% and 7.6%, respectively, following their quarterly reports. Among the noteworthy losers were Ralph Lauren (RL) and Kohl's (KSS), which fell a respective 22.2% and 18.8% after reporting quarterly earnings and issuing underwhelming financial outlooks, with the negative signals also dragging down department store operators J.C. Penney (JCP), Macy's (M) and Nordstrom (JWN). Also lower was ConocoPhillips (COP), which declined 8.65% to $35.29 after the oil and gas explorer reported a worse than expected quarterly loss and slashed its dividend to 25c from 74c per share. CEO Ryan Lance said the decision to reduce the dividend was a "difficult one," but the company believes it is prudent to plan for lower commodity prices for a longer period of time. Meanwhile, AstraZeneca (AZN), Credit Suisse (CS) and MetLife (MET) slipped 5.9%, 10.8% and 5.3%, respectively, following their quarterly reports. INDEXES: The Dow rose 79.92, or 0.49%, to 16,416.58, the Nasdaq gained 5.32, or 0.12%, to 4,509.56, and the S&P 500 advanced 2.92, or 0.15%, to 1,915.45.
07:15 EDTMHFIMcGraw Hill Financial reports Q4 adjusted EPS $1.04, consensus $1.02
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07:14 EDTMHFIMcGraw Hill Financial sees FY16 adjusted EPS $5.00-$5.15, consensus $4.88
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07:14 EDTMHFIMcGraw Hill Financial confirms plans to re-brand as S&P Global
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07:09 EDTSPRSpirit AeroSystems guidance positive, says Bernstein
Noting that the high end of Spirit's 2016 EPS guidance came in well above expectations, Bernstein views that development as positive. The firm says that the company's Q4 margins were "good," and it keeps a $68 price target and Outperform rating on the shares.
06:12 EDTMHFIMcGraw Hill Financial plans to change name to S&P Global, WSJ reports
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February 3, 2016
07:39 EDTSPRSpirit AeroSystems reports Q4 Fuselage Systems revenue $823M
Reports Q4 Propulsion revenue $435M. Reports Q4 Wing Systems revenue $352M.
07:38 EDTSPRSpirit AeroSystems board authorizes new share repurchase program of up to $600M
The Board of Directors has authorized a new share repurchase program of up to $600 million of Spirit's common stock under which repurchases may be made intermittently through December 31, 2017.
07:37 EDTSPRSpirit AeroSystems sees FY16 EPS $4.15-$4.35, consensus $4.17
Sees FY16 revenue $6.6B-$6.7B, consensus $6.85B. Sees FY16 free cash flow of $350M-$400M. Sees FY16 effective tax rate of 31.5%-32.5%.
07:36 EDTSPRSpirit AeroSystems reports total backlog at FY15-end of $47B
07:36 EDTSPRSpirit AeroSystems records charge of $7.3M on 747 program
Records a charge of $7.3 million on the 747 program as a result of production rate decrease starting in September 2016.
07:36 EDTSPRSpirit AeroSystems reports Q4 adjusted EPS 95c, consensus 94c
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January 29, 2016
10:05 EDTSPROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Market Perform from Outperform at William Blair... Chuy's (CHUY) downgraded to Market Perform from Outperform at Raymond James... Cypress Semiconductor (CY) downgraded to Neutral from Buy at Sterne Agee CRT... Darden (DRI) downgraded to Underperform from Market Perform at Raymond James... Dominion (D) downgraded to Neutral from Buy at UBS... Ensco (ESV) downgraded to Neutral from Buy at Citi... First Financial (FFIN) downgraded to Sell from Hold at Sandler O'Neill... Global Partners (GLP) downgraded to Neutral from Overweight at Mitsubishi UFJ... Investors Bancorp (ISBC) downgraded to Sell from Neutral at Compass Point... NetScout (NTCT) downgraded to Hold from Buy at Needham... Precision Castparts (PCP) downgraded to Sell from Buy at Gabelli... Spirit AeroSystems (SPR) downgraded to Sell from Neutral at Goldman... Synaptics (SYNA) downgraded to Buy from Strong Buy at Needham... Terex (TEX) downgraded to Market Perform from Outperform at Avondale... UniCredit (UNCFF) downgraded to Hold from Buy at Berenberg... United Rentals (URI) downgraded to Neutral from Positive at Susquehanna... Xcel Energy (XEL) downgraded to Neutral from Outperform at Macquarie.
05:36 EDTSPRSpirit AeroSystems downgraded to Sell from Neutral at Goldman
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January 27, 2016
09:46 EDTMHFIMcGraw Hill Financial increases quarterly dividend 9% to 36c per share
The Board of Directors of McGraw Hill Financial approved a 9% increase in the regular quarterly cash dividend on the company's common stock. The quarterly dividend will increase from 33c to 36c per share. The dividend will be payable on March 10, 2016, to shareholders of record on February 25, 2016. The new annualized dividend rate of $1.44 per share represents an average compound annual dividend growth rate of 9.5% since 1974.
January 26, 2016
07:35 EDTGWWGrainger backs FY16 EPS $10.80-$13.00, revenue down 1% to up 7%
07:33 EDTGWWGrainger reports Q4 adjusted EPS $2.49, consensus $2.23
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