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Stock Market & Financial Investment News

News Breaks
August 19, 2014
20:25 EDTGLOG, GLOG, AEO, AEO, EV, EV, HAIN, HAIN, MSG, MSG, PETM, PETM, SPLS, SPLS, SJM, SJM, TGT, TGT, LOW, LOWNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Lowe's (LOW), consensus $1.02; Target (TGT), consensus 79c; J. M. Smucker (SJM), consensus $1.37; Staples (SPLS), consensus 11c; PetSmart (PETM), consensus 94c; Madison Square Garden (MSG), consensus 20c; Hain Celestial (HAIN), consensus 89c; Eaton Vance (EV), consensus 62c; American Eagle Outfitters (AEO), consensus 0c; GasLog (GLOG), consensus 13c.
News For LOW;TGT;SJM;SPLS;PETM;MSG;HAIN;EV;AEO;GLOG From The Last 14 Days
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July 1, 2015
08:08 EDTSJMJ.M. Smucker announces coffee price decreases
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June 30, 2015
12:32 EDTMSGMadison Square Garden names David O'Connor as CEO
The Madison Square Garden Company announced that David "Doc" O'Connor has been named president and CEO, effective July 15. O'Connor joins the company after spending the last three decades at Creative Artists Agency, where he played a critical role in helping build one of the most respected talent and sports agencies in the world.
10:00 EDTLOWOn The Fly: Analyst Upgrade Summary
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08:03 EDTLOWLowe's upgraded to Outperform at BMO Capital
As previously reported, BMO Capital upgraded Lowe's (LOW) to Outperform and increased its price target to $81 from $73. The firm's State Economic Scoreboard research indicates stronger relative housing improvement and overall economic activity in Southeastern states, where Lowe's has a larger store footprint. The firm said sales to the Pro segment could accelerate and potentially narrow the gap in comp-store sales with Home Depot (HD) if growth broadens in the coming months. Additionally, strengthening Q2 housing metrics and robust relative traffic give the firm increased confidence in its 4% Q2 comp-store sales forecast for Lowe's.
06:02 EDTLOWLowe's upgraded to Outperform from Market Perform at BMO Capital
June 26, 2015
10:00 EDTTGTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARM Holdings (ARMH) downgraded to Underperform from Market Perform at Bernstein... Apogee Enterprises (APOG) downgraded to Market Perform from Outperform at Northland... Atlas Resource Partners (ARP) downgraded to Underperform from Neutral at BofA/Merrill... Bank of the Ozarks (OZRK) downgraded to Hold from Buy at Drexel Hamilton... China Cord Blood (CO) downgraded to Neutral from Buy at Roth Capital... Citizens Financial (CFG) downgraded to Neutral from Buy at Guggenheim... Community Health (CYH) downgraded to Market Perform from Outperform at Raymond James... Eagle Bancorp (EGBN) downgraded to Hold from Buy at Sandler O'Neill... Fifth Street Senior (FSFR) downgraded to Neutral from Buy at UBS... FireEye (FEYE) downgraded to Equal Weight from Overweight at Barclays... Insight Enterprises (NSIT) downgraded to Underperform at Raymond James... Micron (MU) downgraded to Neutral from Buy at Mizuho... SYNNEX (SNX) downgraded to Hold from Buy at Needham... Swatch Group (SWGAY) downgraded to Equal Weight from Overweight at Barclays... Target (TGT) downgraded to Market Perform from Outperform at BMO Capital... Zoetis (ZTS) downgraded to Market Perform from Outperform at BMO Capital.
07:40 EDTTGTTarget downgraded to Market Perform from Outperform at BMO Capital
BMO Capital downgraded Target to Market Perform citing near-term leadership uncertainty at a time when shares are trading near 52 week and all-time highs. BMO Capital's analyst said it was surprised by the announcement that Kathee Tesija, EPV and Chief Merchandising and Supply Chain Officer will transition into an advisory role but does not view it as a disagreement in strategic direction.
June 25, 2015
14:05 EDTSPLSStaples, Office Depot shares head lower as analyst highlights merger pitfalls
Shares of Staples (SPLS) and Office Depot (ODP) are in negative territory following a Citi research note identifying significant downside potential if their proposed merger is blocked. The note follows news on June 23 that a U.S. District Court has approved the preliminary injunction of the US Foods-Sysco (SYY) merger. WHAT'S NEW: In the wake of the FTC's preliminary injunction of the US Foods-Sysco deal, Citi's Kate McShane issued a note on the proposed merger of Staples and Office Depot. The FTC is expected to release a public version of its Sysco ruling this Friday, and McShane said details of the injunction could shed light on whether the Staples-Office Depot merger is likely to follow a similar path. The analyst sees a 40% and 49% downside scenario for Staples and Office Depot, respectively, were the merger to fail, versus a 20% upside for Office Depot shares if a successful outcome is reached. WHAT'S NOTABLE: The FTC stated on June 23 that the Sysco-US Foods merger "would lead to higher prices and diminished service," and U.S. District Judge Amit Mehta cited the probability of "substantially" reduced competition. Building on those pieces of information, Kate McShane notes that a merged Staples-Office Depot may only capture 15%-25% of the addressable market, in contrast to the 75% market share of a Sysco and US Foods combination. McShane cautioned that if she limits her analysis to just Fortune 100 companies, the 15%-25% figure would likely be higher, but refrains from stronger speculation on the probability of the deal closing. On June 24, the New York Post cited sources calling the merger "unlikely" after the Sysco injunction. As noted by Citi, if regulator sentiment swings against the office supply companies, shares could head sharply lower. PRICE ACTION: Staples is down 0.4% in afternoon trading, while Office Depot is down 0.3%.
09:03 EDTTGTTarget: Chief Merchandising and Supply Chain Officer to move to advisory role
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08:50 EDTSPLSStaples has 20% upside if Office Depot deal closes, says Citi
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08:26 EDTTGTTarget management to meet with Evercore ISI
Field trip to company headquarters to be held in Minneapolis on June 29 hosted by Evercore ISI.
06:47 EDTSPLSStaples volatility low into expected closure of its merger with Office Depot
Staples (SPLS) July weekly call option implied volatility is at 23, July is a 22, September is at 28; compared to its 52-week range of 20 to 53, suggesting decreasing price movement into the expected closure of its proposed $6.3B merger with Office Depot (ODP).
June 24, 2015
10:21 EDTLOWLowe's says more focused on asset productivity rather than square footage
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09:11 EDTAEOAmerican Eagle says environment continues to be highly promotional
Says "pleased" with 1H15 results. Says has seen "good" sequential improvement starting from 2H14 through 1Q15 and 2Q15. Says environment continues to be highly promotional, but seeing strength across all categories and regions. Says leveraging mall traffic, says AUR continues to grow, as well as unit volume. Sees room for improved merchandise margins in 2H. Sees continued EPS growth in 2H. Says "very" optimistic going into 2H. Comments made at the Oppenheimer Annual Consumer Conference.
09:10 EDTSPLSOn The Fly: Pre-market Movers
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09:04 EDTAEOAmerican Eagle repeats Q2 EPS view 11c-14c, consensus 14c
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07:12 EDTSPLSStaples deal unlikely after Sysco-US Foods merger blocked, NY Post reports
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June 23, 2015
07:25 EDTMSGMSG hires Doc O’Connor as CEO, NY Post reports
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07:15 EDTLOW, AEOOppenheimer to hold a conference
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June 22, 2015
16:04 EDTGLOGGasLog Partners acquires three vessels from GasLog for $483M
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