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Stock Market & Financial Investment News

News Breaks
February 14, 2014
12:19 EDTTRLA, WTW, CHGG, CRAY, MW, IM, AIG, JOSB, LOGMOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday with the Dow and S&P 500 outperforming the Nasdaq. The major averages began the session with little fanfare and remained close to the flat line in early trading. The slightly better than expected University of Michigan consumer confidence reading provided a bit of a catalyst for buyers, who have managed to push all but the Nasdaq back into positive ground. ECONOMIC EVENTS: In the U.S., import prices edged up 0.1% and export prices rose 0.2% in January. Industrial production fell 0.3% in January, versus expectations for it to have grown 0.3%. The preliminary February University of Michigan consumer confidence reading was unchanged from the final January figure at 81.2. In Europe, the eurozone's economy expanded at a 0.3% pace last quarter, versus analysts' consensus for expansion of 0.2%. COMPANY NEWS: Jos. A. Bank (JOSB) announced a deal to buy Everest Holdings, the parent company of the Eddie Bauer brand, for cash and stock worth about $825M. Jos. A. Bank, which has been both the pursuer and the pursued in a long running, public negotiation with peer Men's Wearhouse (MW), said the deal give it the right to terminate its agreement in the event an unsolicited offer is made to acquire Jos. A. Bank that it determines would "reasonably be expected to create greater value" for shareholders. Jos. A. Bank also said it will buy back 4.6M of its common shares, or 16.4% of its outstanding shares, if the Eddie Bauer deal moves forward. Afterward, Men's Wearhouse said will "evaluate its options" with regard to Jos. A. Bank... After last night's closing bell, AIG reported fourth quarter profits that beat expectations, raised its dividend by 25% and increased its stock buyback plan by $1 billion. Additionally, Bloomberg reported that the insurer will cut its workforce by 3%. Shares of AIG rose in after-hours trading, but are down 2% near midday after Deutsche Bank called the quarter "messy" and a "modest disappointment" and Barclays lowered its price target on the stock to $56 from $60 to reflect slower than expected P&C margin improvement. MAJOR MOVERS: Among the notable gainers following their better than expected quarterly reports were supercomputer maker Cray (CRAY), which surged 32%, cloud-based solutions company LogMeIn (LOGM), which jumped 23%, and computer parts distributor Ingram Micro (IM), which rose 13%. Among the noteworthy losers was Weight Watchers (WTW), which fell 26% after its fourth quarter profit missed expectations and the company sharply cut its fiscal 2014 earnings outlook. Also lower following their own earnings reports were learning platform operator Chegg (CHGG), which fell 17%, and home buying website Trulia (TRLA), which dropped 18%. INDEXES: Near midday, the Dow was up 73.93, or 0.46%, to 16,101.52, the Nasdaq was down 7.04, or 0.17%, to 4,233.63, and the S&P 500 was up 4.41, or 0.24%, to 1,834.24.
News For JOSB;MW;WTW;AIG;CRAY;LOGM;IM;CHGG;TRLA From The Last 14 Days
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August 28, 2015
10:02 EDTLOGMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADP (ADP) upgraded to Outperform from Market Perform at William Blair... ASML (ASML) upgraded to Buy from Hold at Berenberg... Abercrombie & Fitch (ANF) upgraded on Hollister fundamentals at RBC Capital... Akamai (AKAM) upgraded to Outperform from Market Perform at JMP Securities... Ares Capital (ARCC) upgraded to Outperform from Market Perform at Raymond James... Banco Santander (SAN) upgraded on valuation at Deutsche Bank... CIBC (CM) upgraded to Neutral from Underperform at Credit Suisse... Canon (CAJ) upgraded to Hold from Sell at Deutsche Bank... Citi (C) upgraded to Buy from Neutral at Guggenheim... Ctrip.com (CTRP) upgraded to Buy from Hold at Stifel... El Pollo Loco (LOCO) upgraded at Stifel... Genomic Health (GHDX) upgraded to Market Perform from Underperform at Raymond James... Golar LNG (GLNG) upgraded on valuation, upcoming project completion at Stifel... Habit Restaurants (HABT) upgraded to Buy from Hold at Stifel... Helmerich & Payne (HP) upgraded to Overweight from Equal Weight at Stephens... Himax (HIMX) upgraded to Outperform from Neutral at Credit Suisse... Huntington Bancshares (HBAN) upgraded to Buy from Neutral at Guggenheim... InterContinental (IHG) upgraded to Outperform from Neutral at Credit Suisse... Knight Transportation (KNX) upgraded to Strong Buy on valuation at Raymond James... LogMeln (LOGM) upgraded to Overweight from Sector Weight at Pacific Crest... Patterson Companies (PDCO) upgraded to Overweight from Neutral at Piper Jaffray... Qunar (QUNR) upgraded on valuation, positive catalysts at Stifel... Regions Financial (RF) upgraded to Buy from Neutral at Guggenheim... Ryder (R) upgraded to Strong Buy from Outperform at Raymond James... SVB Financial (SIVB) upgraded to Buy from Neutral at DA Davidson... Seagate (STX) upgraded to Buy from Hold at Cross Research... Sinopec (SNP) upgraded to Neutral from Sell at Citi... Summit Hotel Properties (INN) upgraded to Outperform at Baird... Texas Capital (TCBI) upgraded to Buy from Neutral at DA Davidson... The Medicines Co. (MDCO) upgraded to Buy from Hold at Jefferies... U.S. Bancorp (USB) upgraded to Buy from Neutral at Guggenheim... Weatherford (WFT) upgraded to Overweight from Equal Weight at Stephens.
07:15 EDTLOGMLogMeln upgraded to Overweight on sustainable growth at Pacific Crest
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06:56 EDTLOGMLogMeln upgraded to Overweight from Sector Weight at Pacific Crest
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06:10 EDTAIGAIG unit seeks $1.76B in damages from Coventry First, Reuters reports
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August 26, 2015
08:22 EDTCRAYCray management to meet with Craig Hallum
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August 25, 2015
08:58 EDTIMStifel technology analyst holds an analyst/industry conference call
Senior Technology & Regulatory Analyst Brian Stephens discusses the recently expanded Federal E-rate funding program for public and private school districts to upgrade their networking infrastructures (including wi-fi), and its impact on IT solution providers and distributors, as well as the significant opportunities for a number of covered companies including CDW, Insight, ePlus, Ingram and Synnex, on an Analyst/Industry conference call to be held on August 27 at 11 am.
August 20, 2015
12:57 EDTWTWWeight Watchers management to meet with Craig-Hallum
Meeting to be held in Chicago on August 25 hosted by Craig-Hallum.
09:00 EDTMWMen's Wearhouse selloff a buying opportunity, says Jefferies
Jefferies analyst Edward Plank views the recent selloff in shares of Men's Wearhouse as a buying opportunity. Much of the back-end integration risk from Jos. A. Bank has now passed, and margin improvement should follow, Plank tells investors in a research note. The analyst's FY18 bull case suggests a price target of $100, or 75% upside from current levels, versus a bear case of $47, or 20% downside. He keeps a Buy rating on Men's Wearhouse with a $67 price target.
August 19, 2015
10:00 EDTWTWOn The Fly: Analyst Upgrade Summary
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07:48 EDTWTWWeight Watchers upgraded to Equal Weight on valuation at Morgan Stanley
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06:11 EDTWTWWeight Watchers upgraded to Equal Weight from Underweight at Morgan Stanley
August 18, 2015
16:13 EDTAIGAIG to exit stake in AerCap
05:28 EDTCRAYCray awarded $6M contract by DMI
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August 14, 2015
17:29 EDTIMGreenlight Capital gives quarterly update on stakes
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09:42 EDTLOGMLogMeln management to meet with Stephens
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