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January 18, 2012
10:27 EDTPETD, CHK, HCN, HCP, PRE, LII, WSO, CREE, SIRO, PDCO, ART, JNS, GES, CSH, GEN, DTV, GOOGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Google (GOOG) downgraded to Market Perform from Outperform at Wells Fargo...DirecTV (DTV) downgraded to Neutral from Buy at UBS...GenOn Energy (GEN) downgraded to Sell from Neutral at UBS...Cash America (CSH) downgraded to Market Perform from Outperform at FBR Capital...Guess (GES) downgraded to Neutral from Overweight at Piper Jaffray...Janus Capital (JNS) downgraded to Sell from Neutral at Citigroup...Artio Global (ART) downgraded to Sell from Neutral at Citigroup...Patterson Cos. (PDCO) downgraded to Underweight from Equal Weight at Barclays...Sirona Dental (SIRO) downgraded to Equal Weight from Overweight at Barclays...Cree (CREE) downgraded to Neutral from Buy at Ticonderoga...Watsco (WSO) downgraded to Hold from Buy at KeyBanc...Lennox (LII) downgraded to Hold from Buy at KeyBanc...PartnerRe (PRE) downgraded to Sector Perform from Outperform at RBC Capital...HCP Inc. (HCP) downgraded to Underperform from Neutral at BofA/Merrill...Health Care REIT (HCN) downgraded to Neutral from Buy at BofA/Merrill...Chesapeake (CHK) downgraded to Hold from Buy at Brean Murray...PDC Energy (PETD) downgraded to Hold from Buy at Brean Murray.
Check below for free stories on GOOG;DTV;GEN;CSH;GES;JNS;ART;PDCO;SIRO;CREE;WSO;LII;PRE;HCP;HCN;CHK;PETD the last two weeks.
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August 24, 2014
14:09 EDTGOOGAmazon develops ad sales program in challenge to Google and Microsoft, WSJ says
Amazon (AMZN) is developing its own software for placing ads online that may utilize the online retailer's knowledge of millions of Web shoppers, says the Wall Street Journal. Amazon's new ad platform which is called Amazon Sponsored Links may be tested this year and is a potential challenge to Google's (GOOG) and Microsoft's (MSFT) advertising business, added the Wall Street Journal. Reference Link
August 22, 2014
15:15 EDTGOOGGoogle wins victory in German publisher complaint, Re/code says
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13:53 EDTGOOGGoogle acquires Gecko Design
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12:08 EDTGESGap hits 52-week high following beat and raise quarter
Shares of specialty apparel retailer The Gap (GPS) are advancing after the company posted better than expected second quarter results, and raised its fiscal 2014 profit outlook. WHAT'S NEW: Last night, Gap reported Q2 earnings per share of 75c and revenue of $3.98B, topping analysts’ consensus estimates of 69c and $3.96B, respectively. Q2 same store sales were flat versus the prior year period. WHAT’S NOTABLE: For FY14, Gap raised its EPS view to $2.95-$3.00 from $2.90-$2.95, versus consensus of $2.95. The company updated its guidance for FY14 diluted EPS to reflect the 5c related to the gain on asset sale. For FY14, the company continues to expect capital spending to be approximately $750M in support of its outlined strategies. Gap also announced it will enter India through franchise-operated Gap brand stores in 2015. Gap is partnering with Arvind Lifestyle Brand Limited, a subsidiary of Arvind Limited, which is one of India’s largest textile companies. The first stores are expected to open in India’s two largest cities – Mumbai and Delhi – starting with Gap’s Summer 2015 collection for adults, kids and babies. The brand plans to open about 40 franchise-operated Gap stores in India. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Research firm Janney Capital upgraded Gap to Buy from Neutral. The firm upgraded shares based on the overall improving Softlines sector due to an inventory correction, Old Navy strength, global opportunities, potential improved gross margin returns on inventory investment, and best-in-class management. Their price target on the shares is $51. Another firm, UBS, said Gap is well positioned for second half upside citing its Omni-channel advantage, shift to higher margin businesses, increased square footage, and modestly positive comps driven by ecommerce. UBS has a Buy rating and a $50 price target on the stock. Sterne Agee says Gap’s valuation is very attractive. The firm believes that Gap's fundamentals are improving, while the setup for the stock over the next 12-18 months is favorable. It adds that the company's gross margins should be boosted by several factors going forward, and it kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Gap rose $2.04, or 4.7%, to $45.22 on heavy trading volume. Earlier in the session, it reached a new 52-week high of $45.47. Including today’s advance, the stock has gained over 7.5% over the past twelve months. OTHERS TO WATCH: Other specialty apparel companies include Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Guess (GES), and The Buckle (BKE).
10:06 EDTGESGuess upgraded to Buy from Hold at Standpoint Research
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August 21, 2014
10:22 EDTPDCOPatterson Companies says 'bullish' on long-term prospects
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10:07 EDTGESGuess falls after Chief Design Officer latest to leave
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09:51 EDTCREEChina denies plans for raising LED tariffs, LEDinside reports
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09:07 EDTGESOn The Fly: Pre-market Movers
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07:03 EDTPDCOPatterson Companies maintains FY15 EPS view $2.20-$2.30, consensus $2.26
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07:02 EDTPDCOPatterson Companies reports Q1 EPS 50c, consensus 50c
Reports Q1 revenue $1.06B, consensus $1.04B. 1Q15 results included $173.6M of consolidated sales and an earnings contribution of 2c per diluted share from the acquisition in the United Kingdom of National Veterinary Services Limited, which closed on August 16, 2013.
06:43 EDTGESGuess management turnover concerning, says Piper Jaffray
Piper Jaffray says it remains concerned with the continued pattern of management turnover at Guess after the company disclosed the departure of its Chief Design Officer. Piper believes it will take longer to turn around the Guess brand and keeps a Neutral rating on the stock.
06:40 EDTGESGuess discloses resignation of Chief Design Officer
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06:21 EDTGOOGGM product chief thinks Google might become 'threat,' Bloomberg says
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06:05 EDTGOOGGoogle unit leads $100M infusion in Thumbtack, WSJ reports
Google's Google Capital unit is leading a $100M funding round in Thumbtack, a services marketplace, the Wall Street Journal reports. The investment, which also includes Tiger Global Management and Sequoia Capital, values Thumbtack at over $800M. Reference Link
August 20, 2014
15:26 EDTPDCONotable companies reporting before tomorrow's open
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13:46 EDTGOOGVerizon looking to build app store, The Information says
Verizon (VZ) is looking to partner with other companies to build an app store, according to The Information. Verizon's app store would compete with Google (GOOG) and Apple (AAPL), which already sell smartphone software, The Information noted. Reference Link
09:24 EDTGOOGVringo intends to seek en banc review of decision in I/P Engine case
Vringo (VRNG) announced that its wholly-owned subsidiary I/P Engine, Inc. intends to file a petition with the United States Court of Appeals for the Federal Circuit seeking en banc review of the split appellate decision in its case against AOL (AOL), Google (GOOG) et al. that issued on August 15 and reversed the judgment of the United States District Court for the Eastern District of Virginia. Under the Federal Circuit's rules, I/P Engine's petition for en banc review is due on September 15. I/P Engine has filed an unopposed motion seeking a 30-day extension, which would make its petition due October 15. Upon receiving the requested extension, I/P Engine may file the petition on or anytime prior to October 15.
07:01 EDTGOOGGarmin introduces first Android-based fleet navigators
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06:36 EDTGOOGIliad speaks to Google, Microsoft regarding T-Mobile offer, NY Post says
After Iliad's (ILIAF) surprise bid for T-Mobile (TMUS) was rejected, the firm is now in contact with , personnel at Google (GOOG) and Microsoft (MSFT) about working together to come up with a larger offer for the company, according to the New York Post, citing a "well-placed" source. Reference Link
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