New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
February 4, 2014
09:12 EDTACH, EMR, ZNGA, PSMI, TTWO, PSEC, NUS, ARMH, BSX, FURX, ENTG, KORS, ATMI, AEIS, JCPOn The Fly: Pre-market Movers
HIGHER: Michael Kors (KORS), up 21% after Q3 earnings beat expectations, company raises guidance... Furiex (FURX), up 124% after reporting top-line results for its Phase III trials evaluating its irritable bowel syndrome treatment... Zynga (ZNGA), up 7% following upgrade at UBS... J.C. Penney (JCP), up 3.5% after reporting positive Q4 comparable store sales... Nu Skin (NUS), up 2% after Q4 EPS and revenue view top expectations... ATMI (ATMI), up 25% after peer Entegris (ENTG) agrees to acquire company for $34.00 per share. Entegris shares also up 17% after deal announcement, while others in the sector, such as Advanced Energy Industries (AEIS) also rose... DOWN AFTER EARNINGS: ARM Holdings (ARMH), down 6.8%... Arch Coal (ACI), down 1.8%. ALSO LOWER: Take-Two (TTWO), down 6% after earnings report, downgrades at Wedbush and Benchmark... Peregrine (PSMI), down 16% after earnings, downgrades at Needham and JPMorgan.
News For KORS;JCP;ATMI;ENTG;AEIS;NUS;ZNGA;FURX;PSEC;EMR;BSX;TTWO;ACH;ARMH;PSMI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
July 28, 2015
10:23 EDTKORSBMO Capital says high-end handbag makers to stay weak
High end handbag makers Coach (COH), Kate Spade (KATE) and Michael Kors (KORS) are continuing to struggle and their share prices are likely to remain weak, research firm BMO Capital wrote in a note to investors today. The firm significantly cut its price targets on all three names. WHAT'S NEW: Consumers are spending less on high-end handbags as they increase the amount they allocate to other areas, including travel, leisure and apparel, BMO Capital analyst John Morris stated. Consequently, the North American handbag market was expanding at a 5% rate at the end of June, down from a high single digit rate earlier this year, according to Morris. Meanwhile, competition within the space is mounting and handbag price wars are continuing, the analyst stated. Although handbag stocks have dropped significantly and their valuations appear attractive, they are "falling knives," the analyst warned. Assessing the status of specific companies, Morris says that Kate Spade has avoided implementing major price cuts on its products, though its comparative sales and "mind share" have suffered as a result of that decision and stores are displaying its products less prominently. Coach's stock suggests that investors expect the company's fundamentals to rebound, but Morris thinks that their optimism may be premature. The pace of the company's improvement "remains challenging," and it is likely to be hurt by a decline of U.S. tourism, he believes. Also likely to be hurt by declines in tourism is Michael Kors, the analyst stated. The prices of Michael Kors' products are being reduced by retailers, its gross margins are sinking and its watch business is weak, Morris warned. He reduced his price target on Kate Spade to $19 from $30, on Coach to $28 from $37 and on Michael Kors to $40 from $51. The analyst kept Market Perform ratings on all three stocks. PRICE ACTION: In early trading, Kate Spade was little changed at $18.75, Coach fell 0.5% to $30.60 and Michael Kors was fractionally higher at $39.17.
09:04 EDTKORSHandbag makers estimates, price targets lowered at BMO Capital
Subscribe for More Information
July 23, 2015
18:21 EDTBSXOn The Fly: Top stock stories for Thursday
Stocks began the session mixed on the heels of weak earnings reports from both Caterpillar (CAT) and 3M (MMM). The Nasdaq managed to spend most of the day in positive territory but joined the other averages in negative territory by mid-afternoon. Selling picked up momentum towards late afternoon, and by day’s end each of the averages were lower by more than 0.4%, with the Dow losing nearly 0.7%. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 255,000 in the week ended July 18, below the 278,000 first-time claims that were expected. The Leading Economic Indicators advanced 0.6% in June, exceeding expectations for a 0.3% increase. In Asia, the Shanghai Composite index advanced for a sixth straight session, adding another 2.4%. In Europe, the Greek Parliament voted to accept creditor terms for a new bailout, though a decision on when to reopen Greek financial markets was deferred to next week. COMPANY NEWS: Shares of General Motors (GM) finished the session up 3.96% to $31.50 after reporting earnings per share above analyst expectations. Other notable names rising following earnings reports include SanDisk (SNDK), Under Armour (UA), Southwest (LUV)... Caterpillar, meanwhile, dropped $2.86, or 3.59%, to $76.90 after cutting its yearly guidance during this morning's earnings report, with the company noting a "relatively stagnant" global economy. Also lower following earnings were Comcast (CMCSA, CMCSK), Bristol-Myers Squibb (BMY), Dunkin Brands (DNKN), and Boston Scientific (BSX). MAJOR MOVERS: Among the notable gainers was Cigna (CI), which rose $3.29, or 2.18%, to $154.36 after the Wall Street Journal reported last night that Anthem (ANTM) is nearing a deal to acquire the company for roughly $187, representing a total transaction value of over $48B. Adding to that report, CNBC's David Faber said on Thursday morning that Anthem will announce an agreement Friday to purchase Cigna for $188 per share, at a 45% equity, 55% cash split. Also higher were shares of numerous IT security companies, with FireEye (FEYE) advancing 4.53% and Palo Alto Networks (PANW) adding 2.33% after earnings reports from security firms Fortinet (FTNT) and F5 Networks (FFIV) beat on both top and bottom lines. Fortinet and F5, meanwhile, finished Thursday's session up 10.71% and 7.75% to $46.83 and $127.68, respectively. Among the noteworthy losers following earnings was McDonald's (MCD), which edged down 0.52% to $97.10 after noting that Q2 global comparable sales fell 0.7% for the quarter, including a 2% decline in U.S. same-store sales. Also lower was Hertz (HTZ), which declined 8.53% to $16.45 following a downgrade to Underweight at Morgan Stanley, with the research firm citing increased competition from Uber and similar mobility services. INDEXES: The Dow fell 119.12, or 0.67%, to 17,731.92, the Nasdaq lost 25.36, or 0.49%, to 5,146.41, and the S&P 500 declined 12.00, or 0.57%, to 2,102.15.
15:27 EDTBSXBoston Scientific weakness a buying opportunity, says BofA/Merrill
Subscribe for More Information
10:00 EDTKORSOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
08:48 EDTKORSMichael Kors downgraded to Neutral from Buy at Buckingham
Subscribe for More Information
07:56 EDTBSXBoston Scientific reports Q2 Cardiovascular sales $743M
Subscribe for More Information
07:06 EDTBSXBoston Scientific backs FY15 adjusted EPS 88c-92c, consensus 90c
Subscribe for More Information
07:05 EDTBSXBoston Scientific sees Q3 adjusted EPS 21c-23c, consensus 23c
Subscribe for More Information
07:04 EDTBSXBoston Scientific reports Q2 adjusted EPS 22c, consensus 21c
Subscribe for More Information
July 22, 2015
15:26 EDTBSXNotable companies reporting before tomorrow's open
Subscribe for More Information
10:01 EDTJCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded to Buy at MKM Partners... Agnico Eagle (AEM) upgraded to Buy from Hold at HSBC... Allegiant Travel (ALGT) upgraded to Outperform from Market Perform at Raymond James... Amazon.com (AMZN) upgraded on positive outlook at JMP Securities... Bank of Ireland (IRE) upgraded to Buy from Neutral at Nomura... Canadian Pacific (CP) upgraded to Buy at Canaccord... Carrizo Oil & Gas (CRZO) upgraded to Outperform from Neutral at Credit Suisse... Concho Resources (CXO) upgraded to Outperform from Neutral at Credit Suisse... Crown Castle (CCI) upgraded to Buy from Neutral at Citi... Exxon Mobil (XOM) upgraded to Conviction Buy from Buy at Goldman... Fidelity & Guaranty Life (FGL) upgraded to Outperform from Neutral at Macquarie... First Interstate (FIBK) upgraded to Buy from Hold at Sandler O'Neill... Hess Corp. (HES) upgraded to Outperform from Neutral at Credit Suisse... Intuitive Surgical (ISRG) upgraded to Buy at Canaccord... J.C. Penney (JCP) upgraded to Buy from Neutral at Buckingham... Murphy Oil (MUR) upgraded to Neutral from Underperform at Credit Suisse... Noble Energy (NBL) upgraded to Outperform at Credit Suisse... Packaging Corp. (PKG) upgraded to Outperform from Market Perform at BMO Capital... Prologis (PLD) upgraded to Outperform from Neutral at Baird... Signature Bank (SBNY) upgraded to Strong Buy from Outperform at Raymond James... Sonic Automotive (SAH) upgraded to Buy from Neutral at BofA/Merrill... Tate & Lyle (TATYY) upgraded to Neutral from Sell at Goldman... Technip (TKPPY) upgraded to Neutral from Sell at Goldman... Union Bankshares (UBSH) upgraded to Buy from Neutral at Compass Point... Yamana Gold (AUY) upgraded to Buy from Hold at HSBC... Yara (YARIY) upgraded to Neutral from Underweight at JPMorgan.
08:38 EDTJCPNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
Subscribe for More Information
08:09 EDTJCPJ.C. Penney upgraded to Buy from Neutral at Buckingham
Buckingham upgraded J.C. Penney to Buy and increased its price target to $12 from $9. The firm believes 2H comps could accelerate as initiatives take hold and has increased confidence it the company's ability to hit its 2017 EBITDA target of $1.2B. Buckingham believes FY15 sales comp guidance of 4%-5% is achievable and sees continued gross margin improvement and reduced SG&A levels.
July 21, 2015
14:08 EDTARMHARM Holdings technical comments ahead of earnings
There is a potential bearish wedge on the daily chart that will either trigger following earnings news or fail depending on price direction. A move below $47.25 on bearish news would see the pattern become active. Downside potential for that pattern would be to the $41 to $40 area. If the news is instead a bullish surprise, any sustained move above $49.25 would void the pattern. Next resistance levels to watch as potential upside objectives would be at $50.66, $52.34, and $54.82. which is the 52-week high. The $55 area has been significant overhead resistance for the shares for the past two years. A move above that area would mark a new bullish leg up. If the outcome is bearish it should be noted that the $40 area when viewed on a long-term chart would mark the potential beginning of a double top.
10:14 EDTARMHHigh option volume stocks:
Subscribe for More Information
10:01 EDTNUSOn The Fly: Analyst Initiation Summary
Subscribe for More Information
07:22 EDTBSXBoston Scientific should be bought on pullbacks, says RBC Capital
RBC Capital expects Boston Scientific to report slightly higher than expected Q2 EPS and in-line revenue. The firm expects the company's results to be boosted by strength in ICDs and OUS DES stents. RBC is confident that the company's EPS can grow by low teen percentage levels over the long-term and recommends buying the shares on pullbacks.
July 20, 2015
16:41 EDTNUSNu Skin initiated with a Neutral at Sterne Agee CRT
Subscribe for More Information
09:08 EDTBSXBoston Scientific begins study of resorbable drug-eluting scaffold system
Boston Scientific has initiated a study of the company's first fully resorbable drug-eluting scaffold system. The Fully Absorbable Scaffold Feasibility Study, or FAST, is a prospective, single arm study designed to assess the safety and performance of this next generation scaffold for the treatment of atherosclerotic coronary lesions.
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use