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Stock Market & Financial Investment News

News Breaks
August 13, 2013
08:46 EDTOWW, DGIT, APP, MRK, AVNR, NQ, SINA, LLY, YUM, XRX, JCPOn The Fly: Pre-market Movers
UP AFTER EARNINGS: NQ Mobile (NQ), up 10%... Sina (SINA), up 6.5%. ALSO HIGHER: Digital Generation (DGIT), up 38% after selling television ad delivery business for $485M, announcing plan to form new company that will hold DG's online business... Avanir Pharmaceuticals (AVNR), up 9% after announcing an agreement to co-promote Merck (MRK) therapies in U.S. long-term care institutions... Eli Lilly (LLY), up 4.3% after lung cancer drug met endpoint in trial... Xerox (XRX), up 3% following upgrade to Buy from Neutral at Citigroup... J.C. Penney (JCP), up 1.4% after Bill Ackman resigns from board. DOWN AFTER EARNINGS: American Apparel (APP), down 4.5%. ALSO LOWER: Yum! Brands (YUM), down 3.2% after announcing July same-store sales in its China division fell 13%, including a 16% drop at KFC stores... Orbitz Worldwide (OWW), down 12% after announcing PAR Capital Management has sold 8.1M of its 24.6M shares of Orbitz Worldwide stock.
News For JCP;XRX;YUM;LLY;SINA;NQ;AVNR;MRK;APP;DGIT;OWW From The Last 14 Days
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October 14, 2014
10:01 EDTOWWOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
09:37 EDTYUMDomino's Pizza sees potential for additional 3.8K stores in top 15 markets
Says has 'robust' international business. Says its store count growing faster internationally than Pizza Hut or Papa Johns (PZZA). Pizza Hut is owned by Yum! Brands (YUM). Says now offering voice ordering for Apple's (AAPL) iPhone and Google's (GOOG) Android operating systems. Says in terms of the franchise's long-range outlook, sees global net units to increase 4%-6%, sees domestic SSS to increase 2%-4%, sees international SSS to increase 3%-6% and sees global retail sales to increase 6%-10%. Comments taken from the company's Q3 earnings conference call slide presentation.
08:46 EDTJCPHome Depot announces resignation of Marvin Ellison as EVP - U.S. Stores
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07:15 EDTLLYBiotech Industry Organization to hold a summit
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07:15 EDTJCPJ.C. Penney new CEO may not have expertise in right areas, says Wells Fargo
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07:11 EDTAVNRAvanir AVP-923 data looks better than expected, says Piper Jaffray
Piper Jaffray says the Phase II data Avanir presented for AVP-923 in Alzheimer's agitation at the American Neurological Association Monday was better than expected and could open the door for a billion dollar opportunity. It reiterates an Overweight rating on the stock with a $21 price target.
05:38 EDTOWWOrbitz upgraded to Outperform from Market Perform at FBR Capital
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October 13, 2014
16:32 EDTAVNRAvanir Phase 2 AVP-923 study shows improvement in agitation on primary endpoint
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16:28 EDTJCPOn The Fly: Closing Wrap
Stocks on Wall Street spent most of today's quiet session see-sawing across the flat-line before dropping sharply in the final hour of trading and closing at their lows. The market opened in negative territory but soon made a move to the upside and appeared ready to break the recent market slide that has seen the S&P lose about 5% of its value. Before the averages gained significant steam, they reversed again and moved back into negative ground. The averages moved in a fairly narrow range for most of the afternoon, before accelerating to the downside with conviction in the final hour of trading. ECONOMIC EVENTS: In the U.S., no economic data of note was reported and banks and bond markets were closed in observance of the Columbus Day holiday. In China, the nation's customs administration reported a trade surplus of about $31B for September. Exports in the month increased 15.3% from a year earlier, beating expectations and making for the biggest monthly increase since February 2013. Imports rose 7%, significantly outpacing the consensus projection for a 2% decline. COMPANY NEWS: The Wall Street Journal reported that CSX (CSX) was approached by a larger rival, Canadian Pacific (CP), about a possible merger. However, Credit Suisse analyst Allison Landry wrote in a note to investors that a merger between the two would not be able to occur, due to high regulatory hurdles. Still, CSX rose $1.76, or 5.88%, to $31.70 following the Journal's report, while Canadian Pacific fell $4.40, or 2.32%, to $184.97... Shares of Fiat Chrysler Automobiles (FCAU) made their debut on the New York Stock Exchange and opened at $9 per share. The stock of the newly merged company closed trading down about 1% at $8.92... J.C. Penney (JCP) selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. The stock, which was also downgraded to Sell from Neutral at UBS this morning, spent much of the trading day in positive ground but moved lower late in the session and closed down 3c, or 0.42%, at $7.09. MAJOR MOVERS: Among the notable gainers was Alnylam (ALNY), which advanced $13.83, or 18.98%, to $86.68 after the company announced data from study of its treatment for patients with familial amyloidotic polyneuropathy and Piper Jaffray raised its price target on the stock to $133 from $101 citing the trial results. Among the noteworthy losers was AutoNation (AN), which fell $4.11, or 8.01%, to $47.21 after another company in the same sector, Lithia Motors (LAD), lowered its profit outlook for the third and fourth quarter and issued a lower than expected earnings forecast for fiscal 2015. Shares of Lithia, meanwhile, plunged $16.85, or 20.84%, to $64.01. Also lower were shares of GoPro (GPRO), which fell $8.38, or 9.85%, to $76.67 after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: The Dow fell 223.03, or 1.35%, to 16,321.07, the Nasdaq dropped 62.58, or 1.46%, to 4,213.66, and the S&P 500 declined 31.39, or 1.65%, to 1,874.74.
12:16 EDTJCPOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday amid light trading volume. Banks and bond markets are closed in observance of the Columbus Day holiday, though equity markets remain open. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of a number of freight train operators rose after The Wall Street Journal reported that one of the companies in the sector, CSX (CSX), was approached by a larger rival, Canadian Pacific (CP), about a possible merger. Following the Journal's report, CSX rose 10% and Canadian Pacific advanced 1%, while Norfolk Southern (NSC) and Kansas City Southern (KSU) both climbed about 3%... Chrysler returned to the U.S. stock market, as shares of Fiat Chrysler began trading on the New York Stock Exchange under the symbol "FCAU." MAJOR MOVERS: Among the notable gainers was J.C. Penney (JCP), which rose 3% after the company selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. Also higher were Atlas Energy (ATLS), which rose 20%, and Atlas Pipeline Partners (APL), which advanced 6%, after Targa Resources Partners (NGLS) and Targa Resources (TRGP) agreed to acquire Atlas Pipeline Partners for cash and stock valued at $38.66 per APL common unit and agreed to buy Atlas Energy following the company's spin-off of its non-midstream assets. Among the noteworthy losers was Aerohive Networks (HIVE), which plunged 30% after the company lowered its guidance for the third quarter, citing weaker-than-expected order volume near the quarter's end. Also lower were shares of GoPro (GPRO), which fell over 8% after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: Near midday, the Dow was down 32.14, or 0.19%, to 16,511.96, the Nasdaq was down 7.97, or 0.19%, to 4,268.27, and the S&P 500 was down 6.85, or 0.36%, to 1,899.28.
12:05 EDTJCPJ.C. Penney risk/reward remains balanced, says RW Baird
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12:01 EDTYUMOptions with decreasing implied volatility
Options with decreasing implied volatility: EXAS INFY YUM FDO HSY
10:12 EDTJCPHome Depot bench deep, Ellison departure not surprising, says RW Baird
RW Baird said it is not surprised to see Marvin Ellison leaving Home Depot (HD) since he was likely in the running for the CEO post that went to someone else, but the firm expects a smooth internal transition and noted that it views the company's management bench as deep. Baird, which maintains its Outperform rating on Home Depot, believes J.C. Penney (JCP) is getting a strong leader with extensive retail experience in hiring Ellison.
10:08 EDTJCPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
10:06 EDTJCPJ.C. Penney rises after selecting Home Depot executive as next CEO
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08:38 EDTJCPJ.C. Penney names Marvin Ellison CEO-Designee
The board of J. C. Penney (JCP) announced the appointment of Marvin Ellison, currently executive vice president of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board. He will then succeed Myron E. Ullman, III as CEO of JCPenney on August 1, 2015. At that time, Ullman will become executive chairman of the board for a period of one year.
08:06 EDTSINAQihoo 360 launches ad exchange platform, Marbridge Daily reports
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07:37 EDTMRKAmerican Society of Anesthesiologists to hold annual meeting
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07:33 EDTAVNRAmerican Neurological Association to hold annual meeting
ANA 2014: 139th Annual Meeting is being held in Baltimore on October 12-14.
06:15 EDTJCPJ.C. Penney downgraded to Sell from Neutral at UBS
UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.
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