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Stock Market & Financial Investment News

News Breaks
June 4, 2014
07:17 EDTBWA, UNP, CFX, DOV, FCX, IP, NP, ALSN, MTZDeutsche Bank to hold a conference
Global Industrials & Basic Materials Conference to be held in Chicago on June 4-5 with webcasted company presentations to begin on June 4 at 9:40 am; not all company presentations may be webcasted. Webcast Link
News For IP;CFX;MTZ;FCX;UNP;ALSN;DOV;BWA;NP From The Last 14 Days
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March 23, 2015
12:17 EDTUNPOn The Fly: Midday Wrap
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10:03 EDTFCXFreeport McMoRan rallies, levels to watch
After nearing its 52-week low last week, shares have bounced and are now heading up to test overhead resistance. The first major obstacle is at the 50-day moving average, last at $19.54. Shares are currently at $19.13. A breakout above the 50-day would be bullish, with the potential to turn the long-running bearish trend in the stock to bullish. Support is at $18.52.
10:00 EDTDOVOn The Fly: Analyst Downgrade Summary
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06:03 EDTDOVU.S. Multi-Industry sector downgraded to Neutral at Barclays
Barclays downgraded the U.S. Multi-Industry space to Neutral from Overweight saying rising headwinds could limit share upside to mid-single-digit levels in 2015, with only slight improvement in 2016. The firm believes the credit cycle is peaking and views the U.S. Dollar strength along with lower oil prices as headwinds. Concurrent with sector rating change, Barclays downgraded Dover (DOV), Grainger (GWW), Xylem (XYL) and WESCO (WCC) to Equal Weight from Overweight. It also upgraded Tyco (TYC) to Overweight from Equal Weight and Lennox (LII) to Equal Weight from Underweight, calling both defensive names in the space. The firm is also "comfortable" owning General Electric (GE), Honeywell (HON), Sensata (ST) and HD Supply (HDS) at current levels. It prefers waiting for pullbacks to buy shares of 3M (MMM).
05:46 EDTDOVDover downgraded to Equal Weight from Overweight at Barclays
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March 22, 2015
15:23 EDTFCXFreeport operations at Grasberg resume as blockade ends, Reuters says
Freeport McMoRan has reopened an access road at its Grasberg mine in Indonesia that was blocked by a demonstration last week and says normal operations were being resumed at the mine, says Reuters. Reference Link
March 20, 2015
10:43 EDTFCXStocks with call strike movement; CHK FCX
Chesapeake (CHK) July 16 call option implied volatility increased 2% to 50, Freeport McMoRan (FCX) August 20 call option implied volatility decreased 6% to 47 according to IVolatility.
07:10 EDTUNPUnion Pacific weakness a buying opportunity, says UBS
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March 19, 2015
06:59 EDTFCXProduction at Freeport McMoRan mine in Indonesia halted, Reuters reports
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March 18, 2015
11:03 EDTFCXStocks with call strike movement; NE FCX
Noble Corp. (NE) June 16 call option implied volatility increased 2% to 54, Freeport McMoRan (FCX) August 21 call option implied volatility increased 2% to 49 according to IVolatility.
10:00 EDTALSNOn The Fly: Analyst Upgrade Summary
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07:27 EDTFCXFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:01 EDTALSNAllison Transmission upgraded to Overweight from Equal Weight at Morgan Stanley
Morgan Stanley upgraded Allison Transmission to Overweight based on best-in-class free-cash-flow conversion, strong management execution, end markets that are not near a cyclical peak, traction in fully automatic transmission technology, potential cash returns to shareholders and valuation. Morgan Stanley raised its price target to $38 from $34.
March 17, 2015
18:19 EDTMTZMasTec announces delay in filing FY14 Form 10-K
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13:40 EDTFCXAmended settlement agreement announced between Credit Suisse, Freeport
On March 16, an Addendum to the Stipulation and Agreement of Settlement, Compromise and Release was entered into with respect to the consolidated stockholder derivative litigation captioned In Re: Freeport-McMoRan Copper & Gold (FCX) Derivative Litigation, C.A. No. 8145-VCN. The Addendum modifies the terms of the settlement in order to resolve potential derivative claims against Credit Suisse Securities (CS) in connection with its engagement to act as lead financial advisor to the Special Committee of the Board of Directors of Freeport-McMoRan with respect to the company’s 2013 acquisitions of Plains Exploration & Production Company and McMoRan Exploration Co., which potential claims were previously excluded from the settlement as set forth in the Stipulation and Agreement of Settlement, Compromise and Release filed on January 15. As set forth in the Addendum, the original settlement consideration will be increased by $16.25M, consisting of a $10M cash payment to the company by Credit Suisse, and a credit of $6.25M to be redeemable by the company in connection with future assignments Credit Suisse performs. The Supplemental Cash Amount, together with the original settlement amount, less plaintiffs’ attorneys’ fees and expenses as awarded by the Court of Chancery of the State of Delaware, will be distributed to the company’s stockholders as a special dividend. The settlement is subject to specified conditions, including final approval by the Court of Chancery of the State of Delaware. The settling defendants and Credit Suisse vigorously deny all allegations of wrongdoing or fault but entered into the settlement to avoid the costs and distraction of continued litigation.
07:53 EDTALSNMatson American Eagle Jack Henry named triple play at Oppenheimer
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March 16, 2015
17:07 EDTFCXCredit Suisse to pay Freeport McMoRan $10M to settle allegations, WSJ says
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10:02 EDTUNPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmerisourceBergen (ABC) upgraded to Buy from Neutral at UBS... Avago (AVGO) upgraded to Buy from Neutral at DA Davidson... Francesca's (FRAN) upgraded to Buy at Janney Capital... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Jabil Circuit (JBL) upgraded to Buy from Hold at Cross Research... JetBlue (JBLU) upgraded to Outperform at Raymond James... King Digital (KING) upgraded to Overweight from Neutral at JPMorgan... L.B. Foster (FSTR) upgraded to Outperform from Neutral at Macquarie... NextEra Energy (NEE) upgraded to Buy from Hold at Deutsche Bank... Petrobras Argentina (PZE) upgraded to Buy from Neutral at BofA/Merrill... Qorvo (QRVO) upgraded to Buy from Neutral at DA Davidson... Randgold (GOLD) upgraded to Overweight from Neutral at HSBC... Royal Gold (RGLD) upgraded to Overweight from Neutral at HSBC... Seagate (STX) upgraded at Needham... Standex (SXI) upgraded to Buy from Hold at BB&T... Union Pacific (UNP) upgraded to Outperform from Neutral at Macquarie... West Corp. (WSTC) upgraded to Outperform from Neutral at RW Baird... Xilinx (XLNX) upgraded to Buy from Hold at Drexel Hamilton... YPF (YPF) upgraded to Buy from Neutral at BofA/Merrill.
07:09 EDTNPSidodi to hold a forum
19th Annual Emerging Growth Research Institutional Investor Forum is being held in New York on March 16-17.
06:50 EDTUNPUnion Pacific upgraded to Outperform from Neutral at Macquarie
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