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Stock Market & Financial Investment News

News Breaks
July 10, 2014
06:48 EDTLL, HD, TSCO, LOWHome Depot, Lowe's estimates lowered at Deutsche Bank
Deutsche Bank lowered its estimates for both Home Depot (HD) and Lowe's (LOW) after Tractor Supply (TSCO) and Lumber Liquidators (LL) preannounced Q2 comp misses. The firm says that while the business models are different, Tractor Supply and Lumber Liquidators have historically correlated positively with Home Depot and Lowe's on comps. Deutsche calls its negative earnings revisions "relatively minor," as it thinks comps are probably holding up better at Home Depot and Lowe's. It keeps a Buy rating on Home Depot and a Hold rating on Lowe's.
News For HD;LOW;TSCO;LL From The Last 14 Days
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February 3, 2016
13:35 EDTLOWLowe's CEO: RONA merger in 'much better place' than 2012 offer, Fortune says
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12:24 EDTLOWOn The Fly: Top stock stories at midday
Stocks on Wall Street began the day in positive territory thanks in part to higher oil prices, dovish comments from NY Fed Governor Bill Dudley and a positive jobs report from ADP. The early gains were short lived, as the market saw its highest prices at the open and then drifted lower, gaining downside momentum after two reports on the services sector both pointed to a deceleration. After the Dow lost more than 100 points, the market found a level and bounced back, leaving the averages lower but off their worst levels near noon. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 6% after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's Chairman, said the company's board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders, though the acknowledgment that the company will "engage on qualified strategic proposals" did little to boost its shares this morning... Chipotle Mexican Grill (CMG) fell 4% after reporting lower than expected revenue and stating that its same-store sales had plunged more than 14% last quarter. Additionally, the burrito chain disclosed that it was served with a subpoena broadening the scope of the previously-announced criminal investigation that was limited to a single Chipotle restaurant in California. As Chipotle shares continue to get punished over the company's food safety issues, another stock was hit today by a similar fear, as Buffalo Wild Wings (BWLD) slid 6% after one of its locations was named as a suspected source of new cases of people suffering from norovirus-like symptoms in suburban Kansas City. However, the company said there "is no conclusive link to [its] restaurant being the source of the illness" and that the location reopened on Wednesday after a consultation with the health department... Merck (MRK) was one of the worst performers on the Dow, sliding nearly 3% after its earnings narrowly topped expectations but its guidance for the new fiscal year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 4% following its report, while General Motors (GM) slid 4%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied more than 8% after it announced a restructuring plan that involves reducing its workforce by roughly 10%. Also higher were Energizer (ENR), Spectra Energy (SE), and Avery Dennison (AVY), which gained 15%, 7%, and 7%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Lowe's (LOW), which fell 7% after it agreed to acquire Canada's RONA in a deal valued at $2.3B. Also lower were Mondelez (MDLZ), Match Group (MTCH), and MPLX (MPLX), which were down 7%, 14%, and 19%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 13.22, or 0.08%, to 16,140.32, the Nasdaq was down 48.09, or 1.06%, to 4,468.85, and the S&P 500 was down 11.42, or 0.6%, to 1,891.61.
11:26 EDTLOWOptions with increasing call volume; LOW LNC DG EW SNOW KLIC CIT AN EAT SYT
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07:35 EDTHDHome Depot hiring over 80,000 positions for spring
Home Depot is hiring more than 80,000 associates nationwide to ensure its stores are staffed for the company's busiest selling season.
06:54 EDTLOWLowe's to host conference call
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06:03 EDTLOWLowe's to acquire RONA in deal valued at $2.3B
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06:00 EDTLOWLowe's to acquire RONA in deal valued at $2.3B
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February 1, 2016
13:36 EDTLLLumber Liquidators to pay $13.15M in criminal fines to settle claims
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12:48 EDTLLOptions with increasing call volume
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12:13 EDTLLOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday, but off their worst levels of the day, as oil is once again being weighed on by worries of slower growth in China. Several M&A announcements helped fuel speculation that deal-making may be set to pick up, but the headwinds of lower oil prices and weak economic data are outweighing that potential boost and keeping stocks in the red to start the month. ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in December, versus expectations for an increase of 0.2%, while spending was flat, versus expectations for an increase of 0.1%. Markit's manufacturing purchasing managers index for January dipped to 52.4 in the final January reading, down from the 52.7 flash reading and the below the 52.6 reading that was expected. The Institute for Supply Management's manufacturing index for January came in at 48.2, below the 48.4 that analysts expected. Construction spending rose 0.1% in December, which was weaker than the 0.6% increase that was forecast. In China, the statistics bureau's official manufacturing purchasing managers index fell to 49.4 in January from 49.7 in December. The private Caixin manufacturing PMI edged up to 48.4 from 48.2 in the prior reading, but both figures still remain in contraction territory. In Europe, Markit's manufacturing PMI for the euro zone dropped to 52.3 from December's 53.2, in-line with the earlier flash estimate. COMPANY NEWS: Shares of Twitter (TWTR) advanced 9% after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen have "considered some sort of deal" for the microblog service operator. Lessin noted in the report published on her site, The Information, that she did not know if deal talks are "active" now between Andreessen, Silver Lake and Twitter... Alere (ALR) surged 45% to $54 per share near midday after Abbott (ABT) agreed to acquire the company for $56 per share at a total expected equity value of $5.8B. In other Monday M&A news, Questar (STR) rose 22% after Dominion Resources (D) agreed to acquire it for $25 per share, or about $4.4B, and assume Questar's outstanding debt. Meanwhile, Stryker (SYK) announced a deal to acquire Sage Products for $2.775B in cash. The buyers' shares did not fare as well in the wake of the deal announcements, as Abbott slipped 0.5%, Dominion dipped 1% and Stryker fell 1%. Also lower were shares of Smith & Nephew (SNN), which slid fractionally as investors may have been concerned that Stryker's deal decreases the likelihood that it will come after S&N. Additionally, Smith & Nephew announced that its CEO Olivier Bohuon has been diagnosed with a "highly treatable" form of cancer. MAJOR MOVERS: Among the notable gainers was Lumber Liquidators (LL), which gained 8.5% after a judge accepted the company's $10M plea deal to settle timber source crime charges, according to media reports. Also higher was Chipotle (CMG), which rose 5.5% after The Wall Street Journal reported that the Centers for Disease Control and Prevention is expected to formally declare the end to its E.coli outbreak as soon as today. In addition, Sysco (SYY) and Aetna (AET) were up 7% and 2%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Nokia (NOK), which fell 12% after it forecasted how much revenue it expects to gain from its IP portfolio after its patent deal with Samsung (SSNLF) and its shares were downgraded at Canaccord and BofA Merrill Lynch. Also lower was GoPro (GPRO), which was slid 5% after analysts from Piper Jaffray and Citi predicted that the company's guidance to be issued this week will disappoint investors. In addition, Roper Technologies (ROP) and ImmunoGen (IMGN) were down 6.5% and 5.7%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 56.40, or 0.34%, to 16,409.90, the Nasdaq was down 12.25, or 0.27%, to 4,601.70, and the S&P 500 was down 6.51, or 0.34%, to 1,933.73.
11:28 EDTLLJudge accepts $10M plea deal from Lumber Liquidators, Daily Press reports
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11:01 EDTLLLumber Liquidators resumes, up 7% after Bloomberg says plea deal reached
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10:56 EDTLLLumber Liquidators jumps nearly 9.5%; halted for volatility
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10:56 EDTLLLumber Liquidators to pay $10M to settle timber source crimes, Bloomberg reports
January 29, 2016
16:12 EDTLOWLowe's names Sandra Cochran to board of directors
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January 27, 2016
16:03 EDTTSCOTractor Supply sees FY16 EPS $3.40-$3.48, consensus $3.46
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16:02 EDTTSCOTractor Supply reports Q4 EPS 82c, consensus 82c
Reports Q4 revenue $1.65B, consensus $1.65B. Comparable store sales decreased 1.4% for the quarter. The company said, "The same store sales decrease in the fourth quarter was primarily driven by weakness in the key cold-weather seasonal categories of heating (stoves and fuel) and insulated outerwear, particularly in the Northeast and Midwest regions Sales were also impacted by softness in seasonal big ticket items such as snow blowers, log splitters and generators. The weakness in seasonal categories was partially offset by continued sales strength in year-round basic products such as livestock feed, pet food and hardware."
January 26, 2016
14:10 EDTTSCOTractor Supply technical comments before earnings news
The key level on the downside for the shares is at the $80 area. If the news is bearish and there is a breakdown below that level, it would snap the long-term uptrend support line. Technically this would be bearish for future price. Support below $80 would be at $78.17, and then at the 52-week low at $75. If the news is instead a positive surprise, next resistance levels above the current price in the $85 area would be at $87.82, $90.98, and $92.69.
January 25, 2016
10:00 EDTHDOn 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.
06:15 EDTHDHome Depot upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Mike Baker upgraded Home Depot to Buy citing the recent pullback in shares and favorable industry dynamics. The home centers have the best fundamentals in hardline retail, Baker tells investors in a research note. He keeps a $135 price target on shares of Home Depot. The stock closed Friday up $2.55 to $122.77.
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