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Stock Market & Financial Investment News

News Breaks
February 12, 2013
12:24 EDTKO, BCS, AVP, KORS, LVLT, VALOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as investors may be remaining on the sideline ahead of President Obama’s State of the Union address... ECONOMIC EVENTS: In the U.S., the economic calendar was fairly light for a second straight day. The Labor Department reported job openings fell by 173K in December to 3.62M from a more than four-year high set in the prior month. Also, the Group of Seven urged countries to refrain from competitive devaluations, stating it remained committed to "market-determined" exchange rates... COMPANY NEWS: Coca-Cola (KO) was the worst performing member of the Dow Jones Industrial Average, sliding nearly 3% after reporting earnings that just beat consensus on revenue that just missed analyst forecasts. The company said global unit case volume rose 3% during the quarter and that it expects economic volatility to extend through 2013... MAJOR MOVERS: Among the notable gainers were Avon Product (AVP), which rose over 19% and Michael Kors (KORS), which advanced 10% after their earnings reports. Also higher were shares of Barclays (BCS), which gained more than 8% after the company also reported quarterly results but additionally said it expects to reduce its headcount by at least 3,700 in 2013. Among the noteworthy losers were Level 3 (LVLT), down nearly 11%, and Valspar (VAL), down over 7% after their earnings reports... INDICES: Near noon, the Dow was up 37.58, or 0.27%, to 14,008.82; the Nasdaq was down 4.05, or 0.13%, to 3,187.95; and the S&P 500 was up 1.96, or 0.13%, to 1,518.97.
News For KO;BCS;AVP;KORS;LVLT;VAL From The Last 14 Days
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October 20, 2014
15:36 EDTKONotable companies reporting before tomorrow's open
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13:10 EDTKORSSteve Madden tumbles after providing preliminary Q3 results, FY14 outlook
Shares of shoe and accessory company Steve Madden (SHOO) are tumbling after the company announced preliminary third quarter results that were below analysts' consensus along with a reduction to its fiscal year 2014 outlook. WHAT'S NEW: Steve Madden announced that it is anticipating Q3 earnings per share to be approximately 61c-62c and net sales of $392M, below analysts' consensus estimates of 67c and $415.72M, respectively. The company noted that retail comparable store sales for the quarter are anticipated to be down 7.4%. Steve Madden also reduced its FY14 EPS outlook to $1.81-$1.86 from $2.00-$2.10, well below analysts' $2.02 consensus. The company lowered its net sales projection for the year, and now sees net sales up 1%-2% over fiscal year 2013 versus its previous net sales guidance for up 2%-4% over FY13. The new guidance factors in the recent acquisition of Dolce Vita and current expectations for remainder of the year. On August 14, Steve madden acquired Dolce Vita for $60.3M in cash and previously said the deal would be accretive to earnings in FY14 by 2c-3c and be "modestly accretive" in FY15. WHAT'S NOTABLE: Steve Madden's Chief Executive Officer Edward Rosenfeld said that the company's Q3 earnings were "disappointing" and were the result of weaker than expected retail segment performance. He believes that retail trends in the footwear space will continue to be difficult through the fourth quarter due to a lack of noteworthy fashion trends in the industry. The CEO said that the company's full-year guidance results from this pattern, along with a lowered reorder outlook in its wholesale segment. Rosenfeld is still confident, however, in the company's business model and believes that its acquisitions of Dolce Vita and its Mexican licensee will fuel the business forward over the long term. OTHERS TO WATCH: Competitors of Steve Madden include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Vera Bradley. PRICE ACTION: During afternoon trading, shares of Steve Madden fell $2.62 or 8.2%, to $29.32. Over the last twelve months, the stock has fallen over 15%.
08:07 EDTKOCoca-Cola Bottling to exchange franchise territory with Coca-Cola
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07:21 EDTBCSFederal Reserve Bank of New York and Boston to hold a workshop
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October 16, 2014
12:52 EDTLVLTAkamai retreats after Wells cuts rating on traffic trends
Shares of Akamai (AKAM) are falling after Wells Fargo downgraded the stock to Market Perform from Outperform, saying its research indicates the company's traffic has been moderating in recent weeks. Akamai provides services for the delivery of content over the Internet. WHAT'S NEW: The amount of video and audio streaming being handled by Akamai has slowed during the first two weeks of October when compared with the third quarter, Wells Fargo wrote in a note to investors today. Although Akamai's revenue growth does not correlate directly with changes in the traffic it handles, traffic trends have provided indications about the direction of the company's revenue growth in the past, the firm stated. Additionally, Akamai is facing tough comparisons this quarter, and its international business will be hurt by the strong dollar, the firm contended. Wells predicted the company's 2014 and 2015 earnings would miss expectations and cut its price target range on the name to $57-$61 from $70-$75. OTHERS TO WATCH: Limelight Networks (LLNW) and Level 3 Communications (LVLT) also provide Internet content delivery services. PRICE ACTION: In early afternoon trading, Akamai fell 3% to $53.
10:07 EDTKOCoca-Cola volatility elevated into Q3 and outlook
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08:42 EDTBCSUBS, DOJ in talks for forex rigging settlement, FT reports
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06:50 EDTBCSEuropean regulator rejects bonus loophole, NY Times says
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October 15, 2014
07:27 EDTBCSJPMorgan, HSBC fire traders linked to forex probe, WSJ reports
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October 14, 2014
10:01 EDTLVLTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AU Optronics (AUO) upgraded to Neutral from Sell at UBS... Antero Resources (AR) upgraded to Buy from Accumulate at KLR Group... BHP Billiton (BHP) upgraded to Neutral from Underperform at Credit Suisse... Bill Barrett (BBG) upgraded to Buy from Accumulate at KLR Group... BorgWarner (BWA) upgraded to Buy from Neutral at Goldman... CRH Plc. (CRH) upgraded to Buy from Neutral at Citigroup... Comstock Resources (CRK) upgraded to Buy from Accumulate at KLR Group... Cracker Barrel (CBRL) upgraded at Argus... Delphi Automotive (DLPH) upgraded to Buy from Neutral at Goldman... EOG Resources (EOG) upgraded at Bernstein... Eaton (ETN) upgraded to Overweight from Equal Weight at Barclays... Energizer (ENR) upgraded to Outperform from Market Perform at Wells Fargo... Energy Transfer Equity (ETE) upgraded to Outperform at RW Baird... Federal-Mogul (FDML) upgraded to Neutral from Sell at Goldman... Ford (F) upgraded to Neutral from Underperform at Buckingham... Gulfport Energy (GPOR) upgraded to Accumulate from Hold at KLR Group... Halcon Resources (HK) upgraded to Buy from Hold at KLR Group... HeartWare (HTWR) upgraded to Overweight from Neutral at Piper Jaffray... Helmerich & Payne (HP) upgraded to Outperform at FBR Capital... Legg Mason (LM) upgraded to Neutral from Underperform at BofA/Merrill... Level 3 (LVLT) upgraded to Buy from Hold at Gabelli... Magnum Hunter (MHR) upgraded to Buy from Hold at KLR Group... NetScout (NTCT) upgraded at DA Davidson... Netflix (NFLX) upgraded to Buy with $600 target at BTIG... Newfield Exploration (NFX) upgraded to Buy from Hold at KLR Group... Nielsen (NLSN) upgraded at Bernstein... Orbitz (OWW) upgraded to Outperform from Market Perform at FBR Capital... PDC Energy (PDCE) upgraded to Buy from Hold at KLR Group... Rackspace (RAX) upgraded to Buy from Hold at Evercore... Range Resources (RRC) upgraded to Accumulate from Hold at KLR Group... Rex Energy (REXX) upgraded to Buy from Accumulate at KLR Group... SM Energy (SM) upgraded to Buy from Accumulate at KLR Group... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Targa Resources (TRGP) upgraded to Buy from Accumulate at Tudor Pickering... Unilife (UNIS) upgraded to Buy from Neutral at Ladenburg... Universal Forest (UFPI) upgraded at Sterne Agee.
08:36 EDTLVLTLevel 3 upgraded to Buy from Hold at Gabelli
06:45 EDTBCSData says UK banks paid less than 40% to cover mis-selling, Reuters says
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05:48 EDTKORSMichael Kors initiated with a Hold at Stifel
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October 13, 2014
15:23 EDTKOCoca-Cola Amatil could sell water brand to Coca-Cola, AFR says
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07:15 EDTAVPNational Association of Corporate Directors to hold a conference
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06:07 EDTAVPStocks with implied volatility above IV index mean; AVP ACHN
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October 10, 2014
10:01 EDTAVPOn The Fly: Analyst Upgrade Summary
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09:13 EDTBCSEBA says EU stress test results to be published October 26
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06:21 EDTAVPAvon Products upgraded to Neutral from Sell at UBS
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05:59 EDTAVPStocks with implied volatility above IV index mean; AVP ACHN
Stocks with implied volatility above IV index mean; Avon Products (AVP) 61, Achillion (ACHN) 200 according to iVolatility.
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