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Stock Market & Financial Investment News

News Breaks
March 21, 2013
10:49 EDTSOL, SHPGY, JDSU, HERO, PVHHigh option volume stocks: HERO SHPG PVH JDSU SOL
News For HERO;SHPGY;PVH;JDSU;SOL From The Last 14 Days
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March 4, 2015
08:21 EDTSOLReneSola reports Q4 EPS (4c), consensus (13c)
Reports Q4 revenue $387.0M, consensus $355.08M.
07:54 EDTSOLReneSola sees FY15 revenue $1.5B-$1.6B, consensus $1.68B
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07:53 EDTSOLReneSola sees Q1 revenue $360M-$380M, consensus $406.10M
Sees Q1 gross margin 14%-16%.
07:24 EDTJDSUGSMA to hold a conference
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March 3, 2015
11:40 EDTJDSUJDSU management to meet with Needham
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10:22 EDTPVHGoldman sees weakness ahead for specialty apparel retailers
The stocks of specialty apparel retailers could drop sharply as a result of the cold February weather and bottlenecks at West Coast ports, Goldman Sachs wrote in a note to investors today. WHAT'S NEW: The cold February and port delays will probably cause specialty retailers to report lower than expected profits for the first half of 2015, Goldman analyst Lindsay Drucker Mann forecast. As a result of these factors, the inventories of companies in the sector will probably be backed up all the way to Easter, wrote Mann, adding that foreign exchange fluctuations are also likely to weigh on specialty retailers' profits. The analyst cut her rating on PVH Corp. (PVH) two notches to Neutral from Conviction Buy, predicting that the company's profits would take longer to recover than she previously believed. Among specialty retail stocks, Mann is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN), and Ann Inc. (ANN). She maintained Sell ratings on all three names. The analyst predicted that American Eagle's (AEO) stock could fall further, and maintained a Neutral rating on those shares. WHAT'S NOTABLE: On February 26, Morgan Stanley downgraded Abercrombie & Fitch, citing skepticism about the turnaround prospects of its international business and negative foreign exchange trends. The firm predicted that the company's fiscal 2015 EPS guidance would come in below expectations. However, two firms were recently upbeat on American Eagle, with BMO Capital identifying the company as its favorite name for spring, stating that it expects American Eagle to benefit from the 70s fashion trend. Also, BB&T recently initiated the stock with a Buy rating. PRICE ACTION: In early trading, PVH fell 1.4% to $105.23, Abercrombie & Fitch lost 1.6% to $24, Francesca's declined 2% to $14.62, Ann slid 1.1% to $35.36, and American Eagle lost 1% to $14.80.
10:01 EDTPVHOn The Fly: Analyst Downgrade Summary
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05:57 EDTPVHPVH Corp. downgraded to Neutral from Conviction Buy at Goldman
Goldman Sachs downgraded PVH Corp. (PVH) to Neutral from Conviction Buy saying a cold February and port-related product delays in March will push out the company's earnings recovery. Goldman cut its price target for the owner of Calvin Klein and Tommy Hilfiger to $109 from $143. The stock closed Monday up 21c to $106.74. Within the Specialty Apparel space, Goldman is most negative on Abercrombie & Fitch (ANF), Francesca's (FRAN) and Ann Inc. (ANN), and it sees "fresh downside risk" to American Eagle (AEO). It says the weather and port issues could "throw cold water on the Specialty rally."
February 27, 2015
09:59 EDTJDSUSandell says to hold entire board of JDSU accountable for spin-off structure
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09:58 EDTHEROOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 500.com (WBAI) downgraded to Hold from Buy at Deutsche Bank... Akorn (AKRX) downgraded to Hold after share rally at Needham... Allscripts (MDRX) downgraded to Market Perform from Outperform at Leerink... Bank of America (BAC) downgraded to Neutral from Buy at UBS... Bill Barrett (BBG) downgraded to Hold from Buy at KLR Group... CA Technologies (CA) downgraded to Underperform from Neutral at Credit Suisse... CBOE Holdings (CBOE) downgraded at BofA/Merrill... CONE Midstream (CNNX) downgraded to Sector Perform from Outperform at RBC Capital... Calamos (CLMS) downgraded to Underperform from Neutral at Credit Suisse... Crane (CR) downgraded to Market Perform from Outperform at FBR Capital... Dick's Sporting (DKS) downgraded to Equal Weight from Overweight at Barclays... EnerNOC (ENOC) downgraded to Buy from Strong Buy at Needham... Hercules Offshore (HERO) downgraded to Sell from Buy at Deutsche Bank... Insulet (PODD) downgraded at Oppenheimer... Intelsat (I) downgraded to Underperform from Neutral at Credit Suisse... Laredo Petroleum (LPI) downgraded to Market Perform from Outperform at Northland... Mavenir Systems (MVNR) downgraded to Equal Weight from Overweight at Morgan Stanley... Memorial Production (MEMP) downgraded to Underperform from Perform at Oppenheimer... Mobileye (MBLY) downgraded to Neutral from Buy at Dougherty... NTELOS (NTLS) downgraded to Market Perform from Outperform at Wells Fargo... Ocwen (OCN) downgraded to Sell from Neutral at Compass Point... Pegasystems (PEGA) downgraded to Neutral from Buy at Merriman... Performant Financial (PFMT) downgraded to Neutral from Buy at Compass Point... Pharmacyclics (PCYC) downgraded to Neutral from Buy at Goldman... Potbelly (PBPB) downgraded to Underweight from Overweight at Piper Jaffray... SYNNEX (SNX) downgraded to Hold from Buy at Stifel... Safe Bulkers (SB) downgraded at Credit Suisse... Sarepta (SRPT) downgraded to Market Perform from Outperform at Cowen... Seadrill Partners (SDLP) downgraded to Sector Perform from Outperform at RBC Capital... Spirit Realty (SRC) downgraded at RBC Capital... Transocean (RIG) downgraded to Sector Perform from Outperform at Iberia... UIL Holdings (UIL) downgraded to Neutral from Outperform at RW Baird... WCI Communities (WCIC) downgraded to Neutral from Buy at Citigroup... Walter Investment (WAC) downgraded to Neutral from Outperform at Credit Suisse.
09:24 EDTHEROOn The Fly: Pre-market Movers
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07:20 EDTJDSUJDSUannounces names of new companies, departure of CFO Rex Jackson
JDSU announced yesterday the filing of a Registration Statement on Form 10 with the SEC, in connection with the spinoff of its Communications and Commercial Optical Products business, which will result in two independent, publicly traded companies. JDSU also introduced the new names of the two companies. In addition, the company announced that Rex Jackson, CFO, will depart JDSU September 30, following the expected completion of the spinoff and necessary fiscal year-end filings. Under the plan announced in September 2014, JDSU will spin off its CCOP business, to be named Lumentum Holdings. Lumentum will be a global leader in optical components and subsystems for the telecommunications market, with high growth opportunities in data communications. Alan Lowe will lead Lumentum as CEO. He joined JDSU in September 2007 as senior vice president of the Lasers business and became president of JDSU's newly formed CCOP business segment in 2008. Aaron Tachibana will be Lumentum's CFO. JDSU's Network Enablement, Service Enablement and Optical Security and Performance Products businesses will be renamed Viavi Solutions Inc. at the time of the separation. The Viavi brand is based on the company's ability to deliver the visibility and actionable insight needed to profitably manage the complex transition to next generation networks and services. Tom Waechter, JDSU's current president and CEO, will continue to lead Viavi. Rex Jackson has decided to leave JDSU on September 30, following the expected completion of the separation and the filing of Viavi's Annual Report on Form 10-K. JDSU expects to initiate a search for Jackson's replacement in due course. Current JDSU stockholders will own shares in both corporations following the separation. The spinoff is subject to the satisfaction or waiver of a number of conditions, including the Registration Statement on Form 10 for Lumentum common stock being declared effective by the SEC and certain other conditions described in the information statement included in the Registration Statement and in the agreements to be filed as exhibits to the Registration Statement and other customary matters. JDSU expects all the conditions to the spinoff to be satisfied on or before the distribution date. Approval by JDSU's stockholders is not required for completion of the separation.
06:51 EDTHEROHercules Offshore downgraded to Sell from Buy at Deutsche Bank
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February 26, 2015
07:43 EDTHEROHercules Offshore terminates contract for Hercules 261
Hercules Offshore has received a notice from Saudi Aramco terminating its drilling contract for the Hercules 261, effective March 27. The company is in the process of seeking a basis for continuing the Hercules 261 contract. The company has not received a notice of termination from Saudi Aramco with respect to these rigs.

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