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Stock Market & Financial Investment News

News Breaks
July 8, 2014
10:28 EDTGRPN, RRC, RIO, VALE, WDR, MMM, AIV, CGI, GESOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3M Company (MMM) upgraded to Buy from Hold at Argus... Aimco (AIV) upgraded to Buy from Neutral at UBS... Celadon Group (CGI) upgraded at Stifel... Groupon (GRPN) upgraded to Buy from Neutral at B. Riley... Guess (GES) upgraded to Overweight from Neutral at Piper Jaffray... Range Resources (RRC) upgraded to Hold from Reduce at KLR Group... Rio Tinto (RIO) upgraded to Overweight from Equal Weight at Barclays... Vale (VALE) upgraded to Equal Weight from Underweight at Barclays... Waddell & Reed (WDR) upgraded at Sterne Agee.
News For MMM;AIV;CGI;GES;GRPN;RRC;RIO;VALE;WDR From The Last 14 Days
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August 22, 2014
12:08 EDTGESGap hits 52-week high following beat and raise quarter
Shares of specialty apparel retailer The Gap (GPS) are advancing after the company posted better than expected second quarter results, and raised its fiscal 2014 profit outlook. WHAT'S NEW: Last night, Gap reported Q2 earnings per share of 75c and revenue of $3.98B, topping analysts’ consensus estimates of 69c and $3.96B, respectively. Q2 same store sales were flat versus the prior year period. WHAT’S NOTABLE: For FY14, Gap raised its EPS view to $2.95-$3.00 from $2.90-$2.95, versus consensus of $2.95. The company updated its guidance for FY14 diluted EPS to reflect the 5c related to the gain on asset sale. For FY14, the company continues to expect capital spending to be approximately $750M in support of its outlined strategies. Gap also announced it will enter India through franchise-operated Gap brand stores in 2015. Gap is partnering with Arvind Lifestyle Brand Limited, a subsidiary of Arvind Limited, which is one of India’s largest textile companies. The first stores are expected to open in India’s two largest cities – Mumbai and Delhi – starting with Gap’s Summer 2015 collection for adults, kids and babies. The brand plans to open about 40 franchise-operated Gap stores in India. ANALYST REACTION: This morning, analyst commentary was decidedly positive. Research firm Janney Capital upgraded Gap to Buy from Neutral. The firm upgraded shares based on the overall improving Softlines sector due to an inventory correction, Old Navy strength, global opportunities, potential improved gross margin returns on inventory investment, and best-in-class management. Their price target on the shares is $51. Another firm, UBS, said Gap is well positioned for second half upside citing its Omni-channel advantage, shift to higher margin businesses, increased square footage, and modestly positive comps driven by ecommerce. UBS has a Buy rating and a $50 price target on the stock. Sterne Agee says Gap’s valuation is very attractive. The firm believes that Gap's fundamentals are improving, while the setup for the stock over the next 12-18 months is favorable. It adds that the company's gross margins should be boosted by several factors going forward, and it kept a Buy rating on the shares. PRICE ACTION: In late morning trading, Gap rose $2.04, or 4.7%, to $45.22 on heavy trading volume. Earlier in the session, it reached a new 52-week high of $45.47. Including today’s advance, the stock has gained over 7.5% over the past twelve months. OTHERS TO WATCH: Other specialty apparel companies include Abercrombie & Fitch (ANF), American Eagle Outfitters (AEO), Guess (GES), and The Buckle (BKE).
10:06 EDTGESGuess upgraded to Buy from Hold at Standpoint Research
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August 21, 2014
10:07 EDTGESGuess falls after Chief Design Officer latest to leave
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09:07 EDTGESOn The Fly: Pre-market Movers
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06:43 EDTGESGuess management turnover concerning, says Piper Jaffray
Piper Jaffray says it remains concerned with the continued pattern of management turnover at Guess after the company disclosed the departure of its Chief Design Officer. Piper believes it will take longer to turn around the Guess brand and keeps a Neutral rating on the stock.
06:40 EDTGESGuess discloses resignation of Chief Design Officer
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August 20, 2014
09:17 EDTRIOCloud Peak announces termination of TRA with Rio Tinto
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August 19, 2014
10:13 EDTGESOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: CNOOC (CEO) downgraded to Hold from Buy at Jefferies... Guess (GES) downgraded to Neutral from Overweight at Piper Jaffray... Ingersoll-Rand (IR) downgraded at RW Baird... Lehigh Gas (LGP) downgraded to Neutral from Buy at Ladenburg... Lexicon (LXRX) downgraded to Hold from Buy at Gabelli... Monster Beverage (MNST) downgraded to Neutral from Buy at SunTrust... Nobel Biocare (NBHGY) downgraded to Hold from Buy at Berenberg... Saint Joe Co. (JOE) downgraded to Market Perform from Outperform at Raymond James... SolarCity (SCTY) downgraded at RW Baird.
06:12 EDTGESGuess downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Guess to Neutral saying the company's turnaround could take more time to play out.
August 18, 2014
07:54 EDTRRCEnerCom to hold a conference
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06:18 EDTRIORio Tinto to review options in Bougainville Copper Limited
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August 15, 2014
12:10 EDTVALEVale management to meet with Jefferies
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07:50 EDTRRCRange Resources management to meet with SunTrust
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August 14, 2014
17:02 EDTAIVPershing Square gives quarterly update on stakes
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10:05 EDTGESOn The Fly: Analyst Initiation Summary
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06:07 EDTGESGuess initiated with a Buy at Wunderlich
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August 13, 2014
12:22 EDTRIO, VALEIron ore prices at lowest level in months, Business Spectator says
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11:44 EDTVALEBrazilian presidential candidate in plane crash, Reuters reports
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10:01 EDTCGIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: CSR (CSRE) downgraded to Hold from Buy at Jefferies... Celadon Group (CGI) downgraded to Equal Weight from Overweight at Stephens... Cree (CREE) downgraded to Hold from Buy at Summit Research... Crestwood Equity (CEQP) downgraded to Underweight from Equal Weight at Barclays... Intrepid Potash (IPI) downgraded to Sell from Hold at BGC Financial... JDSU (JDSU) downgraded to Neutral from Buy at B. Riley... King Digital (KING) downgraded to Equal Weight from Overweight at Barclays... Marin Software (MRIN) downgraded to Neutral from Buy at Goldman... Mosaic (MOS) downgraded to Sell from Hold at BGC Financial... Potash (POT) downgraded to Sell from Hold at BGC Financial... Regado Biosciences (RGDO) downgraded to Market Perform from Outperform at Cowen... Southern Company (SO) downgraded to Underweight from Equal Weight at Morgan Stanley... StarTek (SRT) downgraded to Equal Weight from Overweight at First Analysis... Tuniu (TOUR) downgraded to Neutral from Outperform at Credit Suisse.
07:00 EDTCGICeladon Group downgraded to Equal Weight from Overweight at Stephens
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