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Stock Market & Financial Investment News

News Breaks
November 15, 2012
15:47 EDTMAS, USG, TOL, PHM, FAST, HDBernanke says obstacles remain in housing recovery, WSJ says
Federal Reserve Chairman Ben Bernanke acknowledged improvements in the housing market in a speech but warned of obstacles that still remain, like a "stubbornly high" level of unemployment, says the Wall Street Journal. Reference Link
News For MAS;USG;TOL;PHM;FAST;HD From The Last 14 Days
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October 13, 2014
12:16 EDTHDOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday amid light trading volume. Banks and bond markets are closed in observance of the Columbus Day holiday, though equity markets remain open. ECONOMIC EVENTS: In the U.S., no major economic data was reported. COMPANY NEWS: Shares of a number of freight train operators rose after The Wall Street Journal reported that one of the companies in the sector, CSX (CSX), was approached by a larger rival, Canadian Pacific (CP), about a possible merger. Following the Journal's report, CSX rose 10% and Canadian Pacific advanced 1%, while Norfolk Southern (NSC) and Kansas City Southern (KSU) both climbed about 3%... Chrysler returned to the U.S. stock market, as shares of Fiat Chrysler began trading on the New York Stock Exchange under the symbol "FCAU." MAJOR MOVERS: Among the notable gainers was J.C. Penney (JCP), which rose 3% after the company selected Marvin Ellison, who is currently executive vice president of stores at Home Depot (HD), to become its next CEO. Also higher were Atlas Energy (ATLS), which rose 20%, and Atlas Pipeline Partners (APL), which advanced 6%, after Targa Resources Partners (NGLS) and Targa Resources (TRGP) agreed to acquire Atlas Pipeline Partners for cash and stock valued at $38.66 per APL common unit and agreed to buy Atlas Energy following the company's spin-off of its non-midstream assets. Among the noteworthy losers was Aerohive Networks (HIVE), which plunged 30% after the company lowered its guidance for the third quarter, citing weaker-than-expected order volume near the quarter's end. Also lower were shares of GoPro (GPRO), which fell over 8% after a French journalist reported that the son of racing legend Michael Schumacher attributed the severity of his father's brain injury following a skiing accident on the GoPro camera mounted to his helmet. INDEXES: Near midday, the Dow was down 32.14, or 0.19%, to 16,511.96, the Nasdaq was down 7.97, or 0.19%, to 4,268.27, and the S&P 500 was down 6.85, or 0.36%, to 1,899.28.
10:22 EDTHDHome Depot falls, levels to watch
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10:12 EDTHDHome Depot bench deep, Ellison departure not surprising, says RW Baird
RW Baird said it is not surprised to see Marvin Ellison leaving Home Depot (HD) since he was likely in the running for the CEO post that went to someone else, but the firm expects a smooth internal transition and noted that it views the company's management bench as deep. Baird, which maintains its Outperform rating on Home Depot, believes J.C. Penney (JCP) is getting a strong leader with extensive retail experience in hiring Ellison.
10:08 EDTMASOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
10:08 EDTUSGOn The Fly: Analyst Upgrade Summary
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10:06 EDTHDJ.C. Penney rises after selecting Home Depot executive as next CEO
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08:52 EDTUSG, MASUS Building Products & Homebuilding sector lowered at Barclays
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08:38 EDTHDJ.C. Penney names Marvin Ellison CEO-Designee
The board of J. C. Penney (JCP) announced the appointment of Marvin Ellison, currently executive vice president of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board. He will then succeed Myron E. Ullman, III as CEO of JCPenney on August 1, 2015. At that time, Ullman will become executive chairman of the board for a period of one year.
07:15 EDTMASNational Association of Corporate Directors to hold a conference
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05:56 EDTMASMasco downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Masco to Equal Weight citing its preference for companies with commercial exposure. The firm lowered its price target for shares to $26 from $27.
05:54 EDTUSGUSG upgraded to Overweight from Equal Weight at Barclays
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October 10, 2014
10:43 EDTFASTFastenal says will not give Q4 guidance
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10:19 EDTFASTFastenal expects "good" sequential growth going into FY15
Says believes expense growth going forward looks "much better." Believes the company has a lot of opportunity in the next 4-12 quarters to reduce working capital needed for inventory and says it is getting better at using inventory. Says margins appear more stable now than they were earlier in the year. Says if the economy stays steady, the company is in a good profit position. Aims to grow average store size and obtaining top-line growth. Says expense growth "looks good." Says there are "lots of gives and takes in margin" right now. Says Fastener growth has rebound. Says trends year-to-date in the company's overall business are "quite strong" as 2015 approaches. Says heavy equipment operations have stabilized. Says has potential to initiate share buybacks. Comments made during the company's Q3 earnings conference call.
10:01 EDTPHMOn The Fly: Analyst Upgrade Summary
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09:28 EDTPHMPulteGroup upgraded to Sector Perform from Underperform at FBN Securities
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09:08 EDTHDHome Depot management to meet with Deutsche Bank
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07:47 EDTFASTFastenal cuts view of 'normal' gross profit range to 51%-52%
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06:54 EDTFASTFastenal reports July sales growth up 14.7%, August sales growth up 15%
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06:52 EDTFASTFastenal: Sales growth greatest driver of long-term operating profit gains
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06:50 EDTFASTFastenal reports Q3 EPS 45c, consensus 45c
Reports Q3 revenue $980.81M, consensus $980.1M
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