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Stock Market & Financial Investment News

News For KMB;JAH;V;CLX;ACTV;IBM;DELL;FB;T;INTC;KO;MA;YHOO From The Last 14 Days
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September 29, 2014
10:00 EDTYHOOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Akorn (AKRX) upgraded to Outperform from Sector Perform at RBC Capital... Alexandria Real Estate (ARE) upgraded to Buy from Hold at ISI Group... Baidu (BIDU) upgraded to Buy at UBS... Banner Corp. (BANR) upgraded to Buy from Neutral at DA Davidson... Boston Properties (BXP) upgraded to Buy from Hold at ISI Group... Brocade (BRCD) upgraded to Hold from Sell at Summit Research... Chico's FAS (CHS) upgraded to Outperform from Perform at Oppenheimer... Energy Transfer Partners (ETP) upgraded at Morgan Stanley... Equity One (EQY) upgraded to Buy from Hold at ISI Group... FedEx (FDX) upgraded to Outperform from Market Perform at Cowen... Himax (HIMX) upgraded at Craig-Hallum... Janus Capital (JNS) upgraded at Morgan Stanley... Kilroy Realty (KRC) upgraded to Buy from Hold at ISI Group... LRR Energy (LRE) upgraded to Buy from Hold at Stifel... Nationstar (NSM) upgraded at Sterne Agee... Nexstar (NXST) upgraded to Buy from Hold at Noble Financial... Nike (NKE) upgraded to Outperform from Neutral at Credit Suisse... Pearson (PSO) upgraded to Outperform from Underperform at Macquarie... Philips (PHG) upgraded to Buy from Hold at ING Group... Rent-A-Center (RCII) upgraded at KeyBanc... Rice Energy (RICE) upgraded to Buy from Accumulate at KLR Group... Sonic Automotive (SAH) upgraded to Overweight from Underweight at Morgan Stanley... Tahoe Resources (TAHO) upgraded to Outperform from Market Perform at Raymond James... Tanger Factory (SKT) upgraded to Buy from Hold at ISI Group... Universal Health (UHS) upgraded at BMO Capital... Voya Financial (VOYA) upgraded to Strong Buy from Outperform at Raymond James... Waste Management (WM) upgraded at Wedbush... Yahoo (YHOO) upgraded to Buy from Hold at Needham.
09:37 EDTYHOO, INTCActive equity options trading on open
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08:50 EDTFBWal-Mart names Instagram CEO and co-founder Kevin Systrom to board
Wal-Mart Stores (WMT) announced that its Board of Directors has appointed Kevin Systrom, an entrepreneur, software engineer and co-founder of photo-sharing service Instagram (FB), as a new member of the company's Board, effective September 26. Systrom became the 15th member of the Board and will also serve as a member of the company's Technology and eCommerce Committee and its Compensation, Nominating and Governance Committee. Systrom is currently CEO of Instagram, where he is responsible for its day-to-day operations and has overseen its growth to more than 200 million monthly active accounts.
08:49 EDTYHOOCorrection: Yahoo price target raised to $45 at B. Riley not Craig-Hallum
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08:31 EDTYHOOMellanox selected by Yahoo Japan
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07:27 EDTYHOOYahoo upgraded to Buy from Hold at Needham
As previously reported, Needham upgraded Yahoo (YHOO) to Buy from Hold with a $48 price target. The firm believes shareholders who wanted to own Alibaba (BABA) are likely gone and that the Starboard stake announcement will aid capital allocation of balance sheet cash and urgency to the turnaround.
07:25 EDTIBM, DELL, INTCOracle to hold a conference
Open World 2014 to be held in San Francisco on September 28-October 2.
07:20 EDTYHOOAOL CEO say no comment on Yahoo speculation
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07:19 EDTYHOOYahoo upgraded to Buy from Hold at Needham
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07:18 EDTTStarz may struggle to sell itself, WSJ reports
Starz (STRZA) may struggle to sell itself, according to the Wall Street Journal citing challenges facing standalone media companies. The publication says that the standalone networks -- Starz, AMC Networks (AMCX) and Scripps Networks (SNI) -- "lack the heft" of larger peers in negotiations regarding affiliate deals, and look "increasingly vulnerable" now that Comcast (CMCSA), Time Warner Cable (TWC), DirecTV (DTV) and AT&T (T) are joining forces. Reference Link
07:15 EDTINTC, IBMNational Association of Business Economics to hold annual meeting
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06:29 EDTFBFacebook to challenge Google with ad platform, NY Times says
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06:24 EDTFBChina censors coverage of pro-democracy demonstrations, NY Times says
China prevented websites from mentioning pro-democracy demonstrations in Hong Kong, according to The New York Times. Access to Facebook's (FB) Instagram was blocked amid the censorship. Weibo (WB) is a microblog seen as China's version of Twitter (TWTR). Reference Link
06:15 EDTINTCIntel price target raised to $43 from $36 at BofA/Merrill
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06:06 EDTIBMLenovo to close acquisition of IBM's x86 server business on October 1
Lenovo (LNVGY) and IBM ((IBM) announced that conditions for Lenovo’s acquisition of IBM’s x86 server business have been satisfied and the parties anticipate they will begin closing the transaction effective on October 1. Lenovo is acquiring System x, BladeCenter and Flex System blade servers and switches, x86-based Flex integrated systems, NeXtScale and iDataPlex servers and associated software, blade networking and maintenance operations. IBM will retain its System z mainframes, Power Systems, Storage Systems, Power-based Flex servers, PureApplication and PureData appliances. As described in the January announcement of Lenovo’s acquisition of IBM’s x86 server business, Lenovo and IBM have also established a strategic alliance where Lenovo will serve as an Original Equipment Manufacturer to IBM and resell selected products from IBM’s storage and software portfolio, including IBM’s entry and midrange Storwize storage product family, Linear Tape Open products, IBM Flash storage arrays and elements of IBM’s system software portfolio, including Smart Cloud, General Parallel File System and Platform Computing solutions. The purchase price is approximately $2.1B. Approximately $1.8B will be paid in cash at closing after estimated adjustments and approximately $280M will be paid in Lenovo stock, based on the closing price of Lenovo’s stock on September 26. The transition will begin Wednesday in countries that are part of the initial closing, which includes most major markets. The transaction is expected to close in most other countries later this year, with the few remaining countries following in early 2015.
September 28, 2014
18:04 EDTTAT&T to offer double the amount of data on shared mobile plans
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15:53 EDTCLXClorox says Venezuelan government's actions raise concerns
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September 26, 2014
17:18 EDTYHOOYahoo acknowledges receipt of letter from Starboard Value
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16:55 EDTYHOO, CLXMarket ends week lower after inversion crackdown, mixed data
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16:15 EDTYHOOOn The Fly: Closing Wrap
Stocks on Wall Street were higher, regaining much of their losses from yesterday, after GDP data showed the U.S. economy grew at its fastest pace in more than 2 years during the second quarter. Also helping improve sentiment was the significant earnings beat from Dow member Nike (NKE). ECONOMIC EVENTS: In the U.S., second quarter real GDP growth was revised up to 4.6% in the government's third estimate. This was raised from the prior 4.2% growth estimate, though the upward revision had been expected by analysts. The final University of Michigan consumer sentiment index for September came in at 84.6, which was unchanged from the preliminary print but up from the final August reading of 82.5. COMPANY NEWS: Shares of Nike climbed $9.75, or 12.23%, to $89.50 after the company reported stronger than expected results and provided better than expected profit guidance. Following last night's report, a number of analysts reacted positively in notes this morning, including Janney Capital, which upgraded the stock to Buy from Neutral. Meanwhile, Deutsche Bank upgraded Under Armour (UA) to Buy, citing continued sector strength evidenced in Nike's results. Under Armour gained $2.27, or 3.36%, to $69.82 following the report from the industry leader and Deutsche's ratings action. MAJOR MOVERS: Among the notable gainers was Janus Capital (JNS), which surged $4.60, or 41.43%, to $15.72 after the company unexpectedly announced that "Bond King" Bill Gross, formerly of PIMCO, will join as a fund manager this Monday. Afterward, Citigroup upgraded Janus to Neutral from Sell, citing Gross' hiring. Also higher was Yahoo (YHOO), which jumped $1.71, or 4.39%, to $40.66 after activist investor Starboard Value announced it has acquired a significant ownership stake in the company and urged it to explore a strategic combination with AOL (AOL). Shares of AOL also rose $1.58, or 3.68%, to $44.55 following Starboard's public disclosure of its recommendation to Yahoo. Among the noteworthy losers was Finish Line (FINL), which was left out of the Nike-fueled rally in the sneaker sector and fell $4.30, or 14.62%, to $25.11 after the company reported second quarter earnings and revenue that missed expectations. Following Finish Line's Q2 report, the stock and peer Foot Locker (FL) were both downgraded to Neutral from Buy at Bank of America Merrill Lynch. Also lower were shares of AcelRx (ACRX), which fell $1.31, or 19.49%, to $5.41 and was downgraded to Neutral at Roth Capital after the company said it has to resubmit for FDA approval of its Zalviso drug. INDEXES: The Dow advanced 167.35, or 0.99%, to 17,113.15, the Nasdaq gained 45.45, or 1.02%, to 4,512.19, and the S&P 500 rose 16.86, or 0.86%, to 1,982.85.
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