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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 27, 2014
16:10 EDTGESGuess drops 8% after Q2 miss, lower than expected guidance
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16:10 EDTGESGuess now sees FY15 EPS $1.05-$1.20, consensus $1.46
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16:08 EDTGESGuess sees Q3 EPS 15c-20c, consensus 37c
Sees Q3 revenue $590M-$600M, consensus $612.98M. Sees Q3 operating margin between 3.5% and 4.5%.
16:07 EDTGESGuess reports Q2 EPS 26c, consensus 29c
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15:27 EDTGESNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Workday (WDAY), consensus (14c); Williams-Sonoma (WSM), consensus 53c; Bally Technologies (BYI), consensus $1.22; Guess (GES), consensus 29c; Lannett (LCI), consensus 58c; Greif (GEF), consensus 84c.
15:08 EDTGESGuess technical comments ahead of results
In the past three months the stock has underperformed most indexes, trading down by over 4%. The trend since early July has been bearish. Sentiment in the name is strongly bearish, with over 12% of the float short according to the most recent report. On good news that exceeds even bullish expectations, this large short-base could lead to a short-covering squeeze. In that event, resistance levels to watch as potential upside objectives are at $27.30, $28.45, and $31.55. It would take a move above $35 to turn the longer-term trend bullish again. On bad news that is worse than the most pessimistic estimates, support would be at $24.60 which is the 52-week low. On a breakdown below that low, next supports would be at $22.66 and $19.56 on an extreme move.
13:02 EDTGESGuess September volatility elevated into Q2 and outlook
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August 26, 2014
09:22 EDTMMM3M reaches group purchasing agreement with Premier, Inc
3M Critical & Chronic Care Solutions announces that it has reached a group purchasing agreement with health care alliance company Premier, Inc. for multiple catheter securement and stability products. In a move aimed at bringing greater economic efficiencies to Premier’s more than 100,000 health care provider members, the new agreement allows them to take advantage of special pricing and terms pre-negotiated by Premier. The purchasing contract covers products including Tegaderm CHG Chlorhexidine Gluconate I.V. Securement Dressings and Tegaderm I.V. Advanced Securement Dressings as well as the 3M PICC/ CVC Securement Device + Tegaderm I.V. Advanced Securement Dressing, a sutureless securement system.
August 25, 2014
12:06 EDTWDRWaddell & Reed management to meet with Jefferies
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09:01 EDTMMM3M Company announces investment in Smart Energy Instruments
3M New Ventures – the corporate venture arm of 3M – announced an equity stake in Toronto-based Smart Energy Instruments, a move that will further accelerate SEI’s efforts in developing electronic chipsets with high-precision, real-time monitoring capabilities for smart grids, as well as give 3M a bigger presence in the energy sector. The investment from 3M New Ventures comes as several existing stakeholders also bolstered their equity in SEI, including Venturelink Funds, ArcTern Ventures and the Ontario Capital Growth Corp. Together, the financing round, led by 3M New Ventures, totaled $5M. Other details of the transaction were not disclosed.
August 22, 2014
12:40 EDTAIVAimco management to meet with Morgan Stanley
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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.
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