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February 8, 2013
06:01 EDTMCO, UAL, PEUGY, MHP, DAL, GS, JBLU, NSANYOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Fed Board Governor Stein pointed to signs of overheating in some corners of the credit markets. He said there isn't an imminent threat to the wider financial system, but highlighted several markets—including junk bonds, mortgage real-estate investment trusts and commercial banks' securities holdings—as areas where potentially troubling developments are emerging, possibly as a result of the Fed's easy-money policies, the Wall Street Journal reports...For 20 years, Goldman Sachs (GS) has attracted clients to invest in its private-equity funds with the security blanket that the bank and its partners were in it too. But the looming "Volcker rule" is expected to sharply reduce the bank's investment in its own funds. That is forcing Goldman to make major changes in a $50B business. Goldman likely will have to shrink the size of its own investment in its funds to just 3% from as much as 37%, the Wall Street Journal reports...REUTERS: France would consider taking a stake in PSA Peugeot Citroen (PEUGY), Budget Minister Jerome Cahuzac said, hours after the struggling carmaker announced a $5.49B write down, Reuters reports...Nissan Motor (NSANY) has bucked the optimistic trend among Japanese carmakers reporting quarterly results, leaving its annual profit forecast unchanged as sluggish sales weighed on its bottom line while others got a boost from a weakening yen, Reuters reports...BLOOMBERG: U.S. airlines (DAL, UAL, JBLU) cancelled about 2,000 flights and braced for additional cancellations from a winter storm that threatens to drop as much as two feet of snow across parts of New England., Bloomberg reports...The Justice Department’s decision to sue Standard & Poor’s (MHP) has investors asking why Moody’s Investors Service (MCO) and Fitch Ratings weren’t targeted for awarding the same top grades to troubled mortgage bonds and other debt securities, Bloomberg reports.
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January 29, 2016
07:31 EDTGSBank, financial stocks look cheap, says Oppenheimer
After an index of bank stocks fell 19% since last summer, versus an 8% decline for the S&P, Oppenheimer says that "the group looks cheap." The firm says that banks' balance sheets will remain strong whether the economy is resilient or enters a downturn. The firm says that the banks' Q4 results were stable, and it expects the group to benefit from steady loan growth and slightly rising NIMs in 2016. Oppenheimer continues to recommend Bank of America (BAC), Citi (C), Goldman Sachs (GS), Discover (DFS), and Fifth Third (FITB)
06:26 EDTUAL, DALAmerican Airlines stock price too low, WSJ says
The sharp drop in oil prices has come to the benefit of the four major U.S. airline carriers, which account for approximately 80% of the domestic air-travel market, Steven Russolillo of the Wall Street Journal's Ahead of the Tape reports. United Continental (UAL) and Southwest Airlines (LUV) already reported record Q4 earnings, and Delta (DAL) recently reported a quarterly profit as well, the report says. American Airlines (AAL) is slated to reported Q4 results, which are expected to be upbeat, the Journal says. The stock prices of such companies, however, suggests that investors aren't experiencing the full benefits due to weakness with the industry's boom-and-bust nature, the report says. American Airlines's share price, in particular, is too low, and its stock has fallen too much relative to competitors ahead of quarterly results, the report says. Reference Link
05:39 EDTJBLUJetBlue upgraded to Buy from Hold at Evercore ISI
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January 28, 2016
11:18 EDTJBLUOptions with increasing put volume
Options with increasing put volume: DRII SNE LH CAVM KSS UCO ILMN JBLU AVT SWK JNPR RRC CL HES
11:04 EDTUALBoeing reports 40 new orders since last update
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10:37 EDTJBLUJetBlue says hasn't seen a measurable impact from Zika virus on bookings
Says hasn't seen a measurable impact from Zika virus on bookings, refunds. Says watching news on Zika virus very closely, says offering refunds on tickets to select countries.
10:29 EDTJBLUJetBlue says 'very bullish' on A321
10:28 EDTNSANYTakata CEO plans to resign, WSJ reports
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10:25 EDTJBLUJetBlue sees January RASM positively impacted by 2 pts as a result of Jonas
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07:33 EDTJBLUJetBlue ses Q1 capacity up 14%-16% in Q1, 8.5%-10.5% for FY
The company's outlook does not include the impact of Winter Storm Jonas, which caused over 900 flight cancellations within the last week. For the first quarter of 2016, change in CASM excluding fuel and profit sharing is expected to be between 0.0% and negative 2.0% versus the year-ago period. Excluding fuel and profit sharing, CASM for the full year 2016 is forecasted to grow between zero and two percent year over year. Capacity is expected to increase between 14% and 16% in the first quarter 2016 and between 8.5% and 10.5% for the full year. Severe winter weather caused a significant number of flight cancellations in the first quarter of 2015. This increases JetBlue's 2016 capacity growth rate compared to a scheduled versus scheduled basis by about 2.5% in the first quarter and 0.5% for the full year.
07:32 EDTJBLUJetBlue says has no hedges in place for Q1, Q2
In the fourth quarter JetBlue had hedges in place for approximately 14% of its fuel consumption. This resulted in a realized fuel price of $1.68 per gallon, a 37.8% decrease versus fourth quarter 2014 realized fuel price of $2.70. JetBlue recorded $33 million in losses on fuel hedges settling during the fourth quarter. JetBlue continues to have no hedges in place for the first and second quarters of 2016. Based on the fuel curve as of January 15th, JetBlue expects an average price per gallon of fuel, including the impact of fuel taxes, of $1.12 in the first quarter. Beyond the second quarter, JetBlue has hedged about 10% of its expected second half of the year 2016 fuel consumption.
07:31 EDTJBLUJetBlue reports Q4 EPS 56c, consensus 51c
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January 27, 2016
14:34 EDTJBLUNotable companies reporting before tomorrow's open
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January 26, 2016
18:00 EDTUALPAR Investment Partners reports 2.4% stake in United Continental
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16:37 EDTUALAltimeter Capital reports 3.1% stake in United Continental, will continue talks
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10:53 EDTJBLUJetBlue adding new transcontinental routes from Boston, Fort Lauderdale
JetBlue announced it is further expanding its presence in its Boston and Fort Lauderdale-Hollywood focus cities with the addition of two new transcontinental routes. Flights between Boston Logan International Airport and Salt Lake City International Airport will begin Thursday, May 12. Flights between Fort Lauderdale-Hollywood International Airport and San Diego International Airport will begin Thursday, June 16. Both routes will operate year-round, JetBlue said.
09:02 EDTJBLUMasterCard says JetBlue to accept digital payments with MasterPass
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January 25, 2016
17:21 EDTNSANYNissan CEO says considering expanded collaboration with Renault, Nikkei says
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10:00 EDTGSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Express (AXP) upgraded to Perform from Underperform at Oppenheimer... BankMutual (BKMU) upgraded to Outperform from Market Perform at Hovde Group... Black Hills (BKH) upgraded on acquisition at BMO Capital... Bruker (BRKR) upgraded to Buy from Hold at Cantor... Cedar Fair (FUN) upgraded to Conviction Buy from Buy at Goldman... Charles Schwab (SCHW) upgraded to Buy from Neutral at Nomura... Corporate Office Properties (OFC) upgraded to Buy from Neutral at Mizuho... Entegris (ENTG) upgraded on valuation, outlook at Pacific Crest... First Financial upgraded to Outperform from Market Perform at Keefe Bruyette... Goldman Sachs (GS) upgraded to Buy from Neutral at Nomura... Graphic Packaging (GPK) upgraded to Outperform from Neutral at Macquarie... Home Depot (HD) upgraded to Buy from Hold at Deutsche Bank... Intel (INTC) upgraded to Outperform from Neutral at Macquarie... J.B. Hunt (JBHT) upgraded to Buy from Hold at BB&T... Magna (MGA) upgraded to Buy from Neutral at Citi... Masco (MAS) upgraded to Buy from Hold at Evercore ISI... Mattel (MAT) upgraded to Conviction Buy from Buy at Goldman... O'Reilly Automotive (ORLY) upgraded to Buy from Hold at Deutsche Bank... PACCAR (PCAR) upgraded to Buy from Neutral at Citi... People's United (PBCT) upgraded to Neutral from Underweight at Piper Jaffray... Quality Systems (QSII) upgraded to Overweight from Neutral at Piper Jaffray... RadiSys (RSYS) upgraded to Buy from Hold at Needham... Standard Motor (SMP) upgraded to Buy from Neutral at CL King... Swedbank (SWDBY) upgraded to Hold from Underperform at Jefferies... Toll Brothers (TOL) upgraded to Strong Buy from Outperform at Raymond James... Voyager Therapeutics (VYGR) upgraded to Neutral from Sell at Chardan... Yahoo (YHOO) upgraded to Buy from Hold at Pivotal Research.
07:03 EDTGSGoldman Sachs upgraded to Buy from Neutral at Nomura
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