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Stock Market & Financial Investment News

News Breaks
November 9, 2012
11:21 EDTMMM, SMI, PEG, MRO, KGC, ISIS, HRZN, FLT, ETP, CXO, OZRK, ATK, SBUXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 3M Company (MMM) upgraded to Neutral from Reduce at Nomura... Alliant Techsystems (ATK) upgraded to Buy from Neutral at Goldman... Bank of the Ozarks (OZRK) upgraded to Buy from Neutral at Sterne Agee... Concho Resources (CXO) upgraded to Buy from Hold at Stifel Nicolaus... Energy Transfer Partners (ETP) upgraded to Equal Weight at Morgan Stanley... FleetCor (FLT) upgraded to Buy from Neutral at Citigroup... Horizon Technology (HRZN) upgraded to Buy from Hold at Gilford Securities... Isis Pharmaceuticals (ISIS) upgraded to Outperform from Neutral at Cowen... Kinross Gold (KGC) upgraded to Outperform from Neutral at Macquarie... Marathon Oil (MRO) upgraded to Overweight from Neutral at JPMorgan.... PSEG (PEG) upgraded to Hold from Sell at ISI Group... Semiconductor Manufacturing (SMI) upgraded to Market Perform at Bernstein... Starbucks (SBUX) upgraded to Buy from Hold at Argus.
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April 22, 2014
14:30 EDTISISIsis Pharmaceuticals to hold an investor event
Management hosts an investor event to discuss the ISIS-SMN Rx data presented at the 2014 American Academy of Neurology's Annual Meeting in Philadelphia on April 29 at 6 pm. Webcast Link
07:37 EDTMROIncreased refiner exporting playing a role in high gas prices, WSJ says
Gasoline futures climbed a bit over 1% a gallon Monday and are up 11% for the year. While gasoline prices often rise ahead of summer, more gasoline being exported by refiners plays a "prominent" role in the current rally, said The Wall Street Journal, citing analysts. Publicly traded refiners include HollyFrontier (HFC), Marathon Oil (MRO), Phillips 66 (PSX), Tesoro (TSO), Valero (VLO) and Western Refining (WNR). Reference Link
April 21, 2014
06:44 EDTSBUXCompetitors gaining ground on McDonald's breakfast market, WSJ says
McDonald's (MCD) faces increased competition from Yum Brands' (YUM) new Taco Bell breakfast menu as well as Burger King (BKW), Dunkin' Brands (DD), Starbucks (SBUX), and White Castle's renewed efforts to gain ground in the breakfast market, reports the Wall Street Journal. Reference Link
April 17, 2014
17:28 EDTETPEnergy Transfer Partners files to sell 12M common units for holders
17:27 EDTETPEnergy Transfer Partners files $1B mixed securities shelf
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April 16, 2014
12:47 EDTSBUXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the earnings season picks up steam. Stocks began the session sharply higher, with the market attempting to extend the rally that began on Monday. The move upward comes in spite of the dayís housing data coming in below expectations. This afternoon, investors will be watching the Fedís Beige Book report in hopes it provides evidence that the economy is strengthening. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fedís Beige Book report, which includes anecdotal reports on business conditions in the various Fed districts, is due out at 2:00 pm ET. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Shares of Bank of America (BAC) were down over 2% near midday after the company reported a first quarter loss of 5c per share, which was influenced by $6B in legal charges. The $6B in litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and added reserves for other legacy mortgage-related matters, hurt the banks earnings by about 40c per share... Yahoo (YHOO) rose more than 6% after reporting first quarter profit and sales last night that beat expectations. A great deal of attention was also paid to the 66% year-over-year increase in revenue reported by Alibaba, the Chinese group of e-commerce sites in which Yahoo has a 24% stake. This morning, Wells Fargo upgraded its rating on Yahoo to Outperform from Market Perform and raised its price target range for shares to $45-$47 from $38-$40, while Jefferies assumed coverage of Yahoo and also raised its rating on the stock. MAJOR MOVERS: Among the notable gainers was SodaStream (SODA), which surged 9% after an Israeli website said that the company was in talks to sell a 10% or greater stake to a big name company such as PepsiCo (PEP), Dr Pepper Snapple (DPS), or Starbucks (SBUX). Also higher was drugmaker Zogenix (ZGNX), which gained nearly 10% after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers was Agnico Eagle Mines (AEM), which fell 7.5% after agreeing to jointly acquire Osisko Mining in partnership with Yamana Gold (AUY). Yamana shares were also down 3%. Also lower following their earnings reports were ADTRAN (ADTN), which fell nearly 6%, and CSX (CSX), which dropped about 3%. INDEXES: Near midday, the Dow was up 124.14, or 0.76%, to 16,386.70, the Nasdaq was up 37.86, or 0.94%, to 4,072.02, and the S&P 500 was up 13.52, or 0.73%, to 1,856.50.
10:49 EDTSBUXSodaStream rallies following report of talks to sell stake to American company
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08:49 EDTSBUXSodaStream investment report 'unsubstantiated and unlikely,' says Stifel
Stifel said it views the report in Israel-based Calcalist that SodaStream (SODA) was in talks with a large partner like PepsiCo (PEP), Dr. Pepper (DPS), or Starbucks (SBUX) for a 10%-16% strategic stake as "unsubstantiated and unlikely." Stifel noted that the publication reported falsely in the past that PepsiCo was going to purchase SodaStream and the firm maintained its Sell rating on SodaStream shares. Note that SodaStream shares are up nearly 12% in pre-market trade following Calcalist's report.
08:32 EDTATKATK awarded $178M contract by United Launch Alliance
ATK has reached agreement on a $178M contract award as part of the Air Force's Phase 1 Evolved Expendable Launch Vehicle buy from United Launch Alliance.The initial contracting period includes large composite structures with deliveries commencing in AFY14 and continuing into early AFY18.
08:17 EDTMMM3M against proposal for shareholder actions without vote first, Reuters says
3M Company said its board opposed a proposal by shareholder James McRitchie to allow investors with a certain amount of shares to take a specific action through written consent without voting first, according to Reuters, citing a company letter to stockholders. Reference Link
06:38 EDTSBUXStarbucks to relocate EU headquarters to Britain, U.K. Times says
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April 15, 2014
09:35 EDTKGCActive equity options trading on open
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06:52 EDTSBUXJuan Valdez profit sparks IPO goal as chain takes on Starbucks, Bloomberg says
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April 14, 2014
17:02 EDTOZRKBank of the Ozarks reports Q1 EPS 68c, consensus 64c
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16:25 EDTHRZNHorizon Technology announces successful exit of Xtreme Power investment
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15:17 EDTOZRKNotable companies reporting after market close
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07:59 EDTSBUXStarbucks volatility increases from historic low levels into Q2 and outlook
Starbucks April call option implied volatility is at 24, May is at 27, June is at 24, July is at 22; compared to its 26-week average of 23 according to Track Data, suggesting large June near term price movement into the expected release of Q2 results after the market close on April 24.
April 10, 2014
07:59 EDTATKATK price target raised to $150 from $140 at Cowen
Cowen raised its price target on ATK following channel checks which suggest upside to 2015 earnings. The firm cited potential for margins expansion, higher than expected accretion from its Bushnell acquisition, and higher than expected share repurchases. Shares are Market Perform rated.
April 9, 2014
13:38 EDTETPHouse panel backs bill to expedite gas exports, The Hill says
A House subcommittee today approved a bill that would seek to expedite natural gas exports to U.S. allies, according to The Hill. Companies that are looking to export natural gas from the U.S. include Cheniere Energy (LNG), Sempra (SRE), Dominion (D), BG Group (BRGYY), and Southern Union, which is jointly owned by Energy Transfer Equity (ETE) and Energy Transfer Partners (ETP). Reference Link
08:32 EDTATKATK awarded $186M in ammunition contracts from U.S. allies
ATK has received international contracts from U.S. allies totaling $186M for ammunition that spans multiple calibers as well as ammunition services.
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