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Stock Market & Financial Investment News

News Breaks
July 2, 2014
12:54 EDTVITC, SFLY, CAMP, DAL, STZ, KR, STEM, JPMOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after ADP's hiring report gave some reassurance that tomorrow's monthly non-farm payroll report report may be a strong one. Despite ADP's employment change report soundly beating the consensus forecast, stock index futures showed little reaction, leading to a quiet open for the broader market. The averages have moved in a narrow range since the open and have done so on light volume. ECONOMIC EVENTS: Payroll provider ADP estimated that U.S. companies added 281,000 workers to their payrolls in June, which was well above the consensus 210,000 forecast. Factory orders fell 0.5% in May, versus the forecast for them to be down 0.4%. COMPANY NEWS: JPMorgan Chase (JPM) chairman and CEO Jamie Dimon announced to employees and shareholders that he has been diagnosed with throat cancer. "The good news is that the prognosis from my doctors is excellent, the cancer was caught quickly, and my condition is curable," Dimon stated, adding that he will be able to continue to be actively involved in the business and will continue to run the company as normal... Shares of beer and wine maker Constellation Brands (STZ) advanced 3% after after its quarterly results beat expectations and the company raised its FY15 earnings view. MAJOR MOVERS: Among the notable gainers was online healthy living products retailer Vitacost.com (VITC), which jumped 27% after grocer Kroger (KR) agreed to buy the company for $280M, or $8.00 per share. Also higher was StemCells (STEM), which rose 15% after Brinson Patrick initiated coverage of the stock with an Outperform rating and $7 price target, saying it expects the company to have robust Phase II data over the next 24 months for its neural stem cells in both chronic spinal cord injury and geographic atrophy age-related macular degeneration. Another stock trading higher was Shutterfly (SFLY), which gained 14% after Bloomberg, citing sources, said the company has hired investment bank Qatalyst Partners to help it potentially sell itself. Among the noteworthy losers was CalAmp (CAMP), which fell 11% after reporting quarterly results and second quarter guidance that missed analysts' consensus estimates. Also lower were shares of Delta Air Lines (DAL), which fell 5% after reporting its passenger revenue per available seat mile, or PRASM, rose 4.5% in June and noting that corporate and domestic strength offset lower than expected international yields driven by industry-wide capacity increases and lower business demand to Latin America due to the World Cup. After Delta's report, Cowen suggested using the associated weakness in airline stocks as a buying opportunity. INDEXES: Near midday, the Dow was up 14.66, or 0.09%, to 16,970.73, the Nasdaq was up 4.68, or 0.1%, to 4,463.33, and the S&P 500 was up 0.91, or 0.05%, to 1,974.23.
News For JPM;STZ;SFLY;STEM;DAL;VITC;KR;CAMP From The Last 14 Days
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June 24, 2015
08:05 EDTDALDelta Air Lines signs sponsorship deal with the U.K.'s Chelsea Football Club
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07:19 EDTJPMJPMorgan names Nachimowski head of chemicals dealmaking in EMEA, Bloomberg says
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06:37 EDTJPMDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
June 23, 2015
15:36 EDTSTZConstellation Brands July volatility low into Q1 and outlook
Constellation Brands July call option implied volatility is at 22, August is at 21, October is at 22; compared to its 52-week range of 16 to 31, suggesting low price movement into the expected release of Q1 results on July 2.
09:36 EDTDALActive equity options trading on open
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07:56 EDTDALDetroit Economic Club to hold a meeting
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07:27 EDTKRJefferies to hold a conference
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07:11 EDTDALDelta Air Lines coverage assumed with an Overweight at Morgan Stanley
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June 22, 2015
16:00 EDTJPMOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
09:42 EDTDALDelta Air Lines $2 fare increase failed, says JPMorgan
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07:19 EDTDALAirlines focusing on upgraded in-flight web services, WSJ reports
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07:05 EDTSTEMStemCells data likely to be positive, says Cantor
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June 21, 2015
13:03 EDTDALU.S. airline stocks may rise 15%-50% in one year, Barron's says
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June 19, 2015
16:59 EDTDALBuckeye, airlines agree to settle FERC disputes
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13:38 EDTKROptions with decreasing implied volatility
Options with decreasing implied volatility: QIHU PIR RHT BLUE KMX RAD KBH ADBE ACM KR
11:09 EDTDALDelta climbs following upgrade, reported fare hike
The shares of Delta Air Lines (DAL) are rising after research firm Wolfe Research upgraded the stock to Outperform from Peer Perform in a note to investors earlier today. Additionally, JPMorgan says Delta appears to have instituted a domestic fare increase yesterday. WHAT'S NEW: Delta's new deal with its pilots on profit sharing removes an unknown that had been facing the company, Wolfe wrote. Additionally, the airlines seems to be implementing additional domestic capacity cuts, the firm stated. As a result, Wolfe slightly increased its passenger revenue per available seat mile, or PRASM, estimate for the company. Furthermore, expectations for Delta's Q3 PRASM have dropped significantly, even though the airlines recently said that its PRASM should turn positive in Q4. Consensus estimates for Delta now look "reasonable" for this year and beatable in 2016, according to Wolfe, which set a $62 price target on the shares. WHAT'S NOTABLE: JPMorgan said Delta appears to have instituted an additional, $2 one-way across-the-board domestic fare increase yesterday, following last week's industry-wide increase. The firm sees "no harm" in Delta trying, but adds it would be surprised to see material support from the discounters. JPMorgan said it remains "puzzled" as to why airline industry stock sentiment is so negative since discipline among the companies is "alive and kicking." The firm has an Overweight rating on Delta. OTHERS TO WATCH: Other publicly traded airline operators include American Airlines (AAL), JetBlue (JBLU), Southwest (LUV) and United Continental (UAL). PRICE ACTIOn: In late morning trading, Delta rose 2.5% to $42.38.
10:00 EDTDALOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Aerie Pharmaceuticals (AERI) upgraded to Buy from Hold at Canaccord... Amedisys (AMED) upgraded to Buy from Hold at Jefferies... Consolidated Edison (ED) upgraded to Hold from Sell at Evercore ISI... Delta Air Lines (DAL) upgraded to Outperform from Peer Perform at Wolfe Research... Deutsche Bank (DB) upgraded to Neutral from Underperform at Exane BNP Paribas... EP Energy (EPE) upgraded on better than expected well economics at SunTrust... Encana (ECA) upgraded to Outperform from Market Perform at BMO Capital... Energy Transfer Partners (ETP) upgraded to Buy at BofA/Merrill... Erickson (EAC) upgraded to Outperform from In-Line at Imperial Capital... Fiserv (FISV) upgraded on growth opportunities, margin outlook at Oppenheimer... IPC Healthcare (IPCM) upgraded to Buy from Hold at Jefferies... Mack-Cali Realty (CLI) upgraded on valuation at Stifel... Micron (MU) upgraded to Buy on sustainable margins and capex at Topeka... NuStar Energy (NS) upgraded to Buy from Neutral at BofA/Merrill... NuStar GP Holdings (NSH) upgraded to Buy from Neutral at BofA/Merrill... Ramco-Gershenson (RPT) upgraded to Outperform from Neutral at Baird... Retail Opportunity (ROIC) upgraded to Outperform from Market Perform at Raymond James... Royal Dutch Shell (RDS.A) upgraded to Outperform from Sector Perform at RBC Capital... Smith & Wesson (SWHC) upgraded to Outperform from Sector Perform at RBC Capital... Sovran Self Storage (SSS) upgraded to Buy from Hold at Cantor... Springleaf (LEAF) upgraded to Outperform from Neutral at Macquarie.
09:28 EDTKRKroger participates in a conference call with Deutsche Bank
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09:08 EDTDALDelta Air Lines upgraded to Outperform from Peer Perform at Wolfe Research
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07:43 EDTDALDelta instituted $2 domestic fare increase yesterday, says JPMorgan
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