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Stock Market & Financial Investment News

News Breaks
January 24, 2014
11:23 EDTJNPR, CAM, EQIX, EADSY, BA, AGUJANA 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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October 9, 2014
16:20 EDTJNPRJuniper down 5% after lowering Q3 outlook
16:17 EDTJNPRJuniper reports preliminary Q3 adjusted EPS 34c-36c, consensus 38c
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13:56 EDTBAObama calls on Congress to lift defense spending cuts, Politico says
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06:22 EDTBA, EADSYCFM launches next phase of testing for LEAP engine
CFM International's LEAP engine took the skies for the first time on October 6 on a modified 747 flying testbed at GE Aviation Flight Test Operations in Victorville, California, launching the next phase of testing for the advanced engine program. The engine behaved well and completed multiple aeromechnical test points at various altitudes during the nearly three-hour first flight. Over the next several weeks, the engine will complete a comprehensive test schedule that will gauge engine operability, stall margin, performance, and acoustics. The LEAP-1A/-1C variants are on track for engine certification in 2015. The total program, which encompasses all three LEAP engine variants, includes 28 ground and CFM flight test engines, along with a total of 32 flight test engines for Airbus (EADSY), Boeing (BA), and COMAC. Although all three LEAP engine variants will fly on the modified testbed, the configuration currently being tested is a fully integrated propulsion system. CFM is a joint venture between GE (GE) and France's Safran. Reference Link
October 8, 2014
13:35 EDTEADSYAirbus to receive FAA safety approval for A350 by end of October, Reuters says
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10:00 EDTJNPROn The Fly: Analyst Downgrade Summary
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08:19 EDTBA, EADSYAerCap reports 134 aircraft transactions completed during Q3
AerCap Holdings (AER) announced the completion of 134 aircraft transactions during Q3. Signed lease agreements for 84 aircraft. Delivered 26 aircraft under contracted lease agreements. Purchased nine new aircraft, including five Boeing (BA) 787-8s, three Boeing 737-800s and one Airbus (EADSY) A321-200. Executed sale and part-out transactions for 15 aircraft, including: one Airbus A300-600F, one Airbus A340-300, eight Boeing B737 classics, one Boeing B767-300ER and two MD-11s from AerCap's owned portfolio. One Boeing 737 classic and one Airbus A320-200 from AerCap's managed portfolio. Signed financing transactions for $1.5B, including the previously announced private offering of $800M. The total financing transactions completed year-to-date amount to $8.9B.
07:38 EDTJNPRJuniper downgraded at MKM Partners
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07:32 EDTJNPRJuniper downgraded at MKM Partners
As noted earlier, MKM Partners downgraded Juniper to Neutral from Buy. The firm thinks that the bull case on the stock is too centered on cost cuts and low valuation, and not enough on the company's growth outlook. MM Partners also believes that the service provider router market faces numerous overhangs. Target $24.
07:10 EDTJNPRJuniper downgraded to Neutral from Buy at MKM Partners
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06:44 EDTEADSYAirbus aims to slice Dassault share by nearly 50%, Bloomberg says
Airbus is looking to cut its share of Dassault Aviation by close to 50%, selling stakes to institutional investors and back to Dassault in an agreement worth nearly $2.52B, according to Bloomberg, citing comments from Airbus' head of strategy Marwan Lahoud. Lahoud said that the European carrier is looking into selling options due to the U.S. economy bouncing-back. Reference Link
October 7, 2014
15:13 EDTBAEarnings Preview: Alcoa sees Q3 EPS to 'continue to build on strong Q2'
Alcoa (AA) is scheduled to report third quarter earnings after the close on Wednesday, October 8, with a conference call scheduled for 5:00 pm ET. Alcoa is a global manufacturer of aluminum products. EXPECTATIONS: Analysts are looking for earnings per share of 23c on revenue of $5.85B, according to First Call. The consensus range for EPS is 15c-28c on revenue of $5.62B-$6.07B. LAST QUARTER: Alcoa reported second quarter adjusted EPS of 18c against estimates for 12c on revenue of $5.8B against estimates for $5.66B. The company reiterated its 2014 global aluminum demand growth view of 7%, and backed its 2014 global aerospace growth outlook of 8%-9%. It raised its 2014 estimate for the North America commercial transportation market to 10%-14%, from a previous range of 5%-9%. The higher estimate was based in part on rising truck orders and backlogs. CEO Klaus Kleinfeld said the company's transformation was in "high gear." He noted that aerospace business is a tailwind due to strong demand for commercial aircraft, and said the company is well-positioned to capture upside from recent investments. On Alcoa's Q2 earnings conference call, management said during the quarter the company witnessed revenue growth across all major end markets and the businesses continued to deliver productivity gains. They expect Q3 earnings per share to "continue to build on the strong second quarter." ATOI is expected to grow by 5%-10% over last year's third quarter due to continued share gains, stronger market conditions and productivity. Productivity gains are expected to offset cost increases in Q3. For 2014, productivity is ahead of schedule with $556M of productivity gains achieved in first half 2014 against the annual target of $850M. On September 11, Alcoa signed a multi-year supply contract with Boeing (BA) valued at over $1B. STREET RESEARCH: Street research has been overwhelmingly positive in the weeks leading up to Alcoa's Q3 earnings report. On July 9, three firms, Stifel, JP Morgan, and Argus raised their respective price targets on Alcoa. On September 30, BofA/Merrill upgraded Alcoa to Buy from Neutral with a price target of $18. The firm was more positive on the outlook for aluminum and raised Alcoa's 2015 EPS estimate to $1.05 and EBITDA to $4.1B vs. consensus of 85c and $3.8B. BofA said plant closures, better demand, and falling pension costs were catalysts. PRICE ACTION: Alcoa shares have rallied approximately 8% over the past three months, touching a 52-week high of $17.36 in September. Over the past twelve months, the stock is up about 100%. In early afternoon trading ahead of tomorrow's Q3 report, Alcoa shares are down fractionally.
08:18 EDTJNPRJuniper execution could drive 40% upside, says Bernstein
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08:01 EDTBABoeing says cannot plan for 'armageddon' of Ex-Im bank closure, Bloomberg says
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05:29 EDTBABoeing forecasts world air cargo traffic to double in next 20 years
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October 6, 2014
13:25 EDTBABoeing to construct certain 777X parts at Missouri facility, Reuters says
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07:13 EDTBABoeing confirms Alaska Airlines odrer of 10 737-900ER airplanes
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07:04 EDTBABE Aerospace names Lower CFO
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06:57 EDTEADSY, BAData shows Airbus falling behind Boeing on jet sales, Reuters says
Company data from Airbus (EADSY) showed that the firm sold 76 planes last month, but ended the first nine months of 2014 behind Boeing (BA) regarding the amount of aircrafts delivered and sold, according to Reuters, citing the data. The French plane manufacturer has delivered 443 planes so far this year while Boeing has delivered 528. Reference Link
06:27 EDTBAAlaska Air purchases 10 additional Boeing 737-900ER aircraft
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