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Stock Market & Financial Investment News

News Breaks
January 24, 2014
11:23 EDTAGU, EQIX, BA, CAM, EADSY, JNPRJANA reports new stakes in Juniper, Cameron, Equinix, Airbus
In its most recent quarterly letter to investors, JANA Partners reported new stakes in Juniper Networks (JNPR), Equinix (EQIX), Cameron International (CAM), and Airbus (EADSY). JUNIPER STAKE: JANA's position in Juniper makes it the second noted hedge fund to take an activist stake in the company, joining Elliott Management. JANA says it sees at least $300M of potential savings the company can undertake, adding 40c to EPS, and the firm also says Juniper's balance sheet is overcapitalized. JANA noted it has engaged Juniper on its proposals for increasing shareholder value. OTHER STAKES: JANA also disclosed a new stake in data center operator Equinix. JANA says it "takes comfort" in the fact that 95% of Equinix's revenue is recurring monthly, and says it expects the company will be granted a Private Letter Response by the IRS to convert to a REIT. JANA said it made Cameron International one its largest commitments after the company reported worse-than-expected third quarter earnings in October. The firm expects Cameron to recover margins in 2014, and longer-term sees potential for normalized earning power of more than $5.00 per share. JANA also said it initiated a stake in Airbus, and favorably compared the plane manufacturer to its American-based rival, Boeing (BA). JANA says that at this time a year ago, it took a stake in Boeing, which was one of the firm's most successful investments in 2013, and believes Airbus is now the superior aerospace opportunity. JANA also noted in its letter that its 2013 overall performance of 28.2% fell short of its expectations, primarily due to a drag from an investment in Agrium (AGU), which the firm has now exited. PRICE ACTION: Reports of JANA's stake in Juniper, which broke late last night, coincided with the company's report of better-than-expected earnings. Additionally, no less than three analyst firms have upgraded Juniper's shares, which are up better than 9% in late morning trade. Shares of Equinix jumped following initial reports of JANA's stake and are up about 2% in late morning trade. Following reports of JANA's stake in Cameron, shares jumped, but have since pulled back to be just slightly positive for the session.
News For JNPR;CAM;EQIX;EADSY;BA;AGU From The Last 14 Days
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November 17, 2014
07:12 EDTCAMBloomberg / Mayer Brown to co-host a conference
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05:12 EDTBABoeing signs agreement with Toray Industries for 777X wing composites
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November 13, 2014
12:52 EDTBABoeing reports 90 new orders since last update
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11:37 EDTJNPRJuniper says 'customer' noted in CEO change in good standing
On November 10, the company announced that Rami Rahim had been named CEO after Shaygan Kheradpir resigned as CEO and director of the company. The company said his resignation followed a review by the board of his leadership and his conduct in connection with a particular negotiation with a customer.
11:27 EDTJNPRJuniper cites significant share count reduction
11:23 EDTJNPRJuniper sees Q4 tracking in line with previous expectations
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08:52 EDTEADSYInfosys among suitors for Airbus' CIMPA unit, Economic Times says
Infosys (INFY) is among the suitors looking to acquire CIMPA, the engineering services unit of Airbus (EADSY), said Economic Times, citing people familiar with the matter, who added that Infosys could also get a revenue assurance from Airbus as part of a deal. Reference Link
07:12 EDTBAOracle to hold a meeting
2014 OAGi Plenary Meeting is being held in Redwood City, California on November 13-14.
06:31 EDTEADSYAirbus A350-900 receives FAA Type Certification
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November 12, 2014
11:32 EDTJNPREZchip believes growth from ZTE will resume in the coming quarters
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07:59 EDTCAMMitsubishi UFJ to hold a tour
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07:10 EDTBAFly Leasing to sell 8 Boeing 757 aircraft
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November 11, 2014
11:02 EDTJNPRJuniper falls after CEO change but Nomura lauds selection with upgrade
Shares of Juniper (JNPR), which provides network infrastructure products, are sinking after the company abruptly announced last night that it had chosen a new CEO. However, several analysts were upbeat on the company's decision for its new CEO. WHAT'S NEW: Juniper last night announced that its CEO, Shaygan Kheradpir, had resigned, effective immediately. The company said the CEO's resignation came in the wake of the board's review of his leadership and of his conduct during talks with a customer. Named as Kheradpir's replacement, effective immediately, was Rami Rahim, who had been serving as the executive VP and general manager of Juniper's Development and Innovation division. ANALYST REACTION: Nomura analyst Stuart Jeffrey reacted to the news by upgrading his rating on Juniper to Buy from Neutral. Jeffrey wrote that he had previously been worried that the risk facing the company was increasing, and had little confidence that its leadership team could meet its long-term targets. With Rahim at the helm, however, the company has a better chance of generating revenue growth, Jeffrey contended. Unlike his predecessor, Rahim is a Juniper veteran, has demonstrated strong expertise in the company's business during numerous presentations to investors, and has been instrumental in developing products, according to Jeffrey. The analyst raised his price target on the stock to $25 from $19.50. Janney Capital also said the CEO transition at Juniper was unexpected, but that Rami Rahim should have a fairly smooth transition since he has been a big part of creating and implementing the strategy to which the company affirmed its commitment. Janney maintained its Buy rating and $28 fair value estimate on shares of Juniper. Wells Fargo was fairly upbeat on the company's decision. Although Juniper's second CEO change in less than a year is a negative headline, Rahim is a strong choice, as he is highly respected within the organization and has played an integral role in developing the company's current strategy, according to the firm. Moreover, Rahim maintains close relationships with many of Juniper top customers, Wells Fargo reported. As a result, the change will be less disruptive than feared, according to Wells, which noted that Juniper said there would not be any changes in its strategy going forward. The firm kept an Outperform rating on the stock. PRICE ACTION: In mid-morning trading, Juniper fell 4.3% to $20.57.
10:25 EDTJNPRJuniper fall, levels to watch
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10:00 EDTJNPROn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcentra Capital (ABDC) upgraded to Outperform from Market Perform at Keefe Bruyette... Ambac Financial (AMBC) upgraded to Neutral from Sell at MKM Partners... Banco Bilbao (BBVA) upgraded to Buy from Reduce at Nomura... Darden (DRI) upgraded at KeyBanc... ICU Medical (ICUI) upgraded to Overweight from Neutral at Piper Jaffray... IMAX (IMAX) upgraded to Buy from Neutral at Goldman... Juniper (JNPR) upgraded to Buy from Neutral at Nomura... Michaels (MIK) upgraded to Overweight from Equal Weight at Morgan Stanley... Midcoast Energy (MEP) upgraded to Outperform from Neutral at Credit Suisse... Midstates Petroleum (MPO) upgraded to Outperform from Market Perform at Northland... Monroe Capital (MRCC) upgraded to Outperform from Neutral at RW Baird... NuVasive (NUVA) upgraded to Outperform from Market Perform at Cowen... ONEOK Partners (OKS) upgraded to Outperform from Neutral at Credit Suisse... ORBCOMM (ORBC) upgraded to Overweight from Equal Weight at First Analysis... Pattern Energy (PEGI) upgraded to Outperform from Neutral at Macquarie... Targa Resources Partners (NGLS) upgraded to Outperform from Neutral at Credit Suisse... Time Warner (TWX) upgraded to Conviction Buy from Neutral at Goldman... Tremor Video (TRMR) upgraded to Buy from Hold at Jefferies... Western Gas Partners (WES) upgraded to Outperform from Neutral at Credit Suisse... Yamana Gold (AUY) upgraded to Overweight from Neutral at HSBC... Zynga (ZNGA) upgraded to Buy from Hold at Jefferies.
08:28 EDTJNPRJuniper CEO transition should be smooth, says Janney Capital
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08:18 EDTJNPRJuniper CEO transition likely to create little disruption, says Oppenheimer
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08:10 EDTEQIXEquinix and Datapipe to provide managed solutions to Amazon Web Services
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07:49 EDTJNPRJuniper new CEO a strong choice, says Wells Fargo
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06:28 EDTJNPRJuniper upgraded to Buy from Neutral at Nomura
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