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October 6, 2015
16:21 EDTATIAllegheny Technologies says enviroment for flat rolled productd challenging
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16:19 EDTATIAllegheny Technologies expects to report $65M non cash charge in Q3
Allegheny Technologies expects to report a non-cash charge for income tax valuation allowances of approximately $65M, net of tax, as a result of a three year cumulative loss from U.S. operations.
16:18 EDTATIAllegheny Technologies sees Q3 EPS (32c)-(27c), consensus (22c)
09:03 EDTLLLL-3 unit awarded position to compete under USAF TSA III contract
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06:01 EDTCAECAE wins defense contracts valued at over C$100M
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October 5, 2015
16:16 EDTBAOn The Fly: Top stock stories for Monday
The Dow began the day with a triple digit jump and continued to tack on gains from there, rising nearly 2% by the time the closing bell rang. The Nasdaq and S&P also posted significant gains in the market's broad based advance. The number of advancing stocks crushed the number of declining stocks while the up volume overwhelmed the down volume. The S&P 500 is now on a five day winning streak with earnings season set to unofficially begin on Thursday, when Alcoa (AA) releases its quarterly report after the close. ECONOMIC EVENTS: In the U.S., Markit's services PMI dropped to 55.1 in the final September print, compared to the preliminary reading of 55.6 and August's 56.1 figure. ISM's services index dropped 2.1 points to 56.9 in September, versus expectations for a more modest pullback to a reading of 57.5. COMPANY NEWS: General Electric (GE) was the best performer on the Dow, advancing $1.35, or 5.3%, to $26.82 after activist investor Nelson Peltz disclosed that his firm, Trian Fund Management, has accumulated a $2.5B stake, making it one of the company's top ten shareholders. Trian, which believes GE is "executing a bold transformation" from a broad conglomerate into an industrial company, predicted that GE stock may be worth $40-$45 per share by 2017... Shares of Twitter (TWTR) rose $1.85, or 7.03%, to $28.16 after the company appointed co-founder and interim Chief Executive Jack Dorsey as permanent CEO. Analysts welcomed the news, saying Dorsey was simply "too good to pass up" despite his concurrent role as head of payments company Square. Axiom analyst Victor Anthony upgraded the stock to Buy from Hold, though the rating change was made prior to this morning's CEO news, which had been previewed last week by Re/code, was confirmed by the company... The U.S., Japan and ten other countries came to terms on the Trans-Pacific Partnership, a trade agreement meant to open agricultural markets, tighten intellectual property rules and establish a group that will have the clout to challenge China's influence in the region. Reacting to the deal, Honeywell (HON) said trade agreements like the TPP have the potential to boost exports, support jobs, and increase access abroad, while Boeing (BA) pointed out that more than 70% of its commercial airplane revenue last year came from customers outside the U.S. MAJOR MOVERS: Among the notable gainers was Spark Therapeutics (ONCE), which surged $9.09, or 20.69%, to $53.02 after the Phase 3 trial of the company's lead gene therapy product met its primary endpoint. Also higher was SunEdison (SUNE), which gained 77c, or 9.31%, to $9.04 after announcing plans to optimize its business operations by refocusing on its core markets and simplifying its structure, among other initiatives. Among the noteworthy losers were a number of Apple (AAPL) chip suppliers, with Cirrus Logic (CRUS), Skyworks (SWKS) and Avago (AVGO) falling a respective 4.5%, 1.7%, and 2.6% after Citi analysts lowered fourth quarter iPhone sales estimates. Also lower was Valeant (VRX), which lost $18.86, or 10.34%, to $163.46 after its alleged "price hike" business strategy was highlighted in reports by the New York Times and Barron's. Additionally, AtriCure (ATRC) declined 8.8% to $20.47 after releasing preliminary third quarter results and agreeing to acquire cardiac device maker nContact. INDEXES: The Dow gained 304.06, or 1.85%, to 16,776.43, the Nasdaq advanced 73.49, or 1.56%, to 4,781.26, and the S&P 500 rose 35.69, or 1.83%, to 1,987.05.
12:40 EDTBABoeing CEO says Trans-Pacific Partnership creates new opportunities
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11:01 EDTBABoeing says Q3 deliveries totaled 199
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10:16 EDTATIBofa/Merrill global metals/mining analysts hold analyst/industry conference call
U.S. Metals, Mining & Steel Analyst Tanners, European Metals, Mining & Steel Analyst Ekblom, Russian Metals, Mining & Steel Analyst Faritov and LatAm Metals, Mining & Steel Analyst Lofiego, along with Sebastian Lewis, Editorial Director-China of Platts, review market conditions in key regions and discusses recent price moves in iron ore, met coat and steel on an Analyst/Industry conference call to be held on October 8 at 9 am.
10:00 EDTATI, BEAVOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Equal Weight from Underweight at Barclays... Allegheny Technologies (ATI) upgraded to Buy from Hold at Deutsche Bank... Amicus (FOLD) upgraded to Buy from Neutral at Chardan... ArcelorMittal (MT) upgraded to Buy from Sell at Citi... AutoZone (AZO) upgraded at Oppenheimer... BE Aerospace (BEAV) upgraded to Buy from Hold at Gabelli... Boston Scientific (BSX) upgraded to Strong Buy from Outperform at Raymond James... C1 Financial (BNK) upgraded to Buy from Hold at Sandler O'Neill... CONSOL (CNX) upgraded to Hold from Sell at Deutsche Bank... Discover (DFS) upgraded to Outperform from Market Perform at Bernstein... Dr Pepper Snapple (DPS) upgraded to Buy from Hold at Evercore ISI... International Game (IGT) upgraded on valuation at Sterne Agee CRT... Juniper (JNPR) upgraded to Buy from Hold at Stifel... Keryx (KERX) upgraded to Equal Weight from Underweight at Morgan Stanley... Knowles (KN) upgraded to Overweight from Equal Weight at Stephens... LaSalle Hotel (LHO) upgraded to Buy from Hold at Evercore ISI... Lazard (LAZ) upgraded to Positive from Neutral at Susquehanna... Nucor (NUE) upgraded to Buy from Hold at Deutsche Bank... OUTFRONT Media (OUT) upgraded to Buy from Neutral at Goldman... Park Sterling Bank (PSTB) upgraded to Buy from Hold at Sandler O'Neill... Phoenix Companies (PNX) upgraded to Neutral from Underweight at JPMorgan... SBA Communications (SBAC) upgraded to Outperform from Neutral at Macquarie... Snap-On (SNA) upgraded to Buy from Neutral at Longbow... Swift Transport (SWFT) upgraded to Buy from Hold at Evercore ISI... Team (TISI) upgraded to Buy from Hold at Johnson Rice... Teck Resources (TCK) upgraded to Outperformer from Sector Performer at CIBC... Toll Brothers (TOL) upgraded to Positive from Neutral at Susquehanna... Twitter (TWTR) upgraded to Buy from Neutral at Axiom... UniCredit (UNCFF) upgraded to Sector Perform from Underperform at RBC Capital... Wynn Resorts (WYNN) upgraded to Market Perform from Underperform at Telsey Advisory... bluebird bio (BLUE) upgraded to Overweight from Equal Weight at Morgan Stanley.
09:31 EDTLMTLockheed Martin's Sniper Targeting Pod selected by Netherlands Air Force
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08:25 EDTBEAVBE Aerospace upgraded to Buy from Hold at Gabelli
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06:14 EDTATIAllegheny Technologies upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Jorge Beristain upgraded Allegheny Technologies to Buy citing valuation following the recent pullback in shares. Beristain cut his price target for shares to $20 from $27.
October 4, 2015
16:24 EDTBAEmirates says won't decide between Boeing, Airbus until 2016, Bloomberg reports
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15:04 EDTLMTThales in talks to provide light armored vehicles for Australia, WSJ says
Australia is in advanced talks to purchase a number of Hawkei light armored vehicles from French defense firm Thales, reports the Wall Street journal, citing two people familiar with the matter. Companies in the space include BAE Systems (BAESY), Lockheed Martin (LMT), and Oshkosh (OSK). Reference Link
October 2, 2015
18:41 EDTCACI, LMTLockheed Martin weighs merger of services units with competitor, Reuters says
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17:29 EDTBABoeing awarded $110.1M government contract modification
The Boeing Co., Clearfield, Utah, has been awarded a $110,109,415 modification on previously awarded contract FA8414-15-C-0001 for replacement of the intercontinental ballistic missile Minuteman III telemetry, test and termination systems. Work will be performed at Clearfield, Utah; Huntington Beach, California; and Heath, Ohio, and is expected to be complete by Aug. 31, 2019. Fiscal 2015 research, development, test and evaluation funds in the amount of $4,840,000 are being obligated at the time of award. The Air Force Nuclear Weapons Center, Hill Air Force Base, Utah, is the contracting activity.
October 1, 2015
17:25 EDTBA, LMTLockheed Martin knocked out of NASA delivery competition, WSJ says
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10:39 EDTBABAE Systems selected by Boeing to develop digital electronic warfare system
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10:04 EDTBABoeing selected as prime contractor for EPAWSS electronic warfare suite program
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