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Stock Market & Financial Investment News

News Breaks
December 5, 2012
09:26 EDTP, CIE, MMR, TIBX, SBUX, FCX, MFRM, TEA, PXPOn The Fly: Pre-market Movers
HIGHER AFTER EARNINGS: Francesca's (FRAN), up 9%... ALSO HIGHER: McMoRan Exploration (MMR), up 74%, Plains Exploration (PXP), up 25% after acquisition by Freeport-McMoRan (FCX)... Cobalt International (CIE), up 12% on read-through from Freeport deal... Teavana (TEA), up 7% after Starbucks (SBUX) confirms intention to acquire... LOWER AFTER EARNINGS: Mattress Firm (MFRM), down 19%... Pandora (P), down 15%... ALSO LOWER: Freeport-McMoRan, down 13% after acquisitions... Tibco (TIBX), down 14% after preliminary Q4 earnings.
News For MMR;PXP;FCX;CIE;TEA;SBUX;P;MFRM;TIBX From The Last 14 Days
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February 4, 2016
10:54 EDTSBUXDunkin' same-store sales fall amid increased competition
Dunkin' Brands (DNKN) reported higher than expected top and bottom line fourth quarter results this morning, but the company noted that same-store sales fell 0.8% for its flagship Dunkin' Donuts brand in the U.S. The company's same-store sales decline was in contrast to Starbucks (SBUX), which recently reported a comparable store sales increase in the U.S., and come after McDonald's (MCD) launched its "All-Day Breakfast" initiative. WHAT'S NEW: Dunkin' reported Q4 earnings per share of 52c, versus the consensus estimate of 50c. Its Q4 revenue came in slightly above expectations. However, the chain reported that its same-store sales slid 0.8% versus the same period a year earlier in its Dunkin' Donuts locations. The company provided fiscal 2016 earnings guidance that was in-line with expectations, excluding certain items. It expects its U.S. Dunkin' Donuts same-store sales to rise 0%-2% in fiscal 2016. In comparison, Starbucks reported that its Americas same-store sales jumped 9% in Q4. Of note, Dunkin' Brands raised its dividend by 13% to 30c per share. ANALYST REACTION: Dunkin's same-store sales came in below expectations, wrote Michael Gallo, an analyst at CL King. However, excluding a decline of 1.2 percentage points in sales of the company's K-cup offerings, the company's same-store sales were flat, he stated. McDonald's launch of all-day breakfast clearly negatively impacted Dunkin, as guest traffic at Dunkin's stores fell one percentage point, the analyst stated. Gallo kept a Buy rating on the shares but noted that he was placing his price target under review. PRICE ACTION: In late morning trading, Dunkin Brands shares gained 2% to $41.72.
07:06 EDTSBUXWaste Management to hold a forum
2016 Executive Sustainability Forum is being held in Scottsdale, AZ on February 4.
February 3, 2016
14:00 EDTMFRMMattress Firm agrees to issue 1.76M shares of common stock
On February 3, 2016, the company agreed to issue an aggregate of 1,762,236 shares of common stock. The Company expects to complete the issuance of the shares of common stock, which issuance will be equivalent to approximately 4.9% of the currently issued and outstanding shares of common stock, on February 5. The Company will receive cash in exchange for 699,300 shares and the remaining 1,062,936 shares will be issued as partial purchase price consideration in exchange for equity interests in Sleepy's. The Board of Directors of the Company approved the issuance after the close of trading on February 2 at a price per share of $35.75.
13:53 EDTMFRMMattress Firm sees Sleepy transaction mid-single digit dilutive in FY16
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10:00 EDTFCX, CIEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded to Market Perform from Outperform at William Blair... Credit Acceptance (CACC) downgraded to Underperform at Raymond James... CIT Group (CIT) downgraded to Neutral from Buy at Citi... Cobalt (CIE) downgraded at Stifel... Cypress Energy (CELP) downgraded to Outperform from Strong Buy at Raymond James... Freeport McMoRan (FCX) downgraded on weak near-term outlook at Argus... Gastar Exploration (GST) downgraded to In-Line from Outperform at Imperial Capital... Intersil (ISIL) downgraded to Sell from Neutral at Citi... LyondellBasell (LYB) downgraded to Outperform from Top Pick at RBC Capital... Marriott (MAR) downgraded to Market Perform from Outperform at Wells Fargo... Microchip (MCHP) downgraded to Sell from Neutral at Goldman... Morgan Stanley (MS) downgraded to Underweight from Neutral at Atlantic Equities... Navios Maritime Partners (NMM) downgraded to Hold from Buy at Deutsche Bank... Peapack-Gladstone (PGC) downgraded to Hold from Buy at Sandler O'Neill... QIWI (QIWI) downgraded to Market Perform from Outperform at William Blair... STORE Capital (STOR) downgraded to Neutral from Buy at Ladenburg... Spark Energy (SPKE) downgraded to Neutral from Outperform at Baird... Stone Energy (SGY) downgraded to In-Line from Outperform at Imperial Capital... SunEdison Semiconductor (SEMI) downgraded to Sell from Neutral at Goldman... Teradyne (TER) downgraded to Neutral from Buy at Goldman... Texas Instruments (TXN) downgraded to Sell from Neutral at Goldman... UBS (UBS) downgraded to Sector Perform from Outperform at RBC Capital... Whiting Petroleum (WLL) downgraded on oil price outlook at Stifel... Xcel Energy (XEL) downgraded to Sell from Neutral at UBS... Xilinx (XLNX) downgraded to Buy from Conviction Buy at Goldman... Yahoo (YHOO) downgraded to Hold from Buy at Axiom.
09:07 EDTFCXFreeport McMoRan downgraded on weak near-term outlook at Argus
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08:28 EDTCIECobalt downgraded at Stifel
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07:34 EDTFCXFreeport McMoRan downgraded to Hold from Buy at Argus
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05:24 EDTCIECobalt downgraded to Hold from Buy at Stifel
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February 2, 2016
06:50 EDTFCXFreeport asks Indonesia to reduce, postpone $530M smelter bond, Reuters says
Freeport-McMoRan has asked Indonesia to cut or postpone a $530M smelter bond that the local unit of the company needs to set aside before receiving an extension of its export permit, Reuters reports, citing Indonesia's mining minister. "They have appealed to ask whether we can postpone it or give them a discount, but we asked them to show their commitment in another equivalent way," Energy and Mines Minister Sudirman Said told reporters. Reference Link
February 1, 2016
07:24 EDTSBUXEU's Vestager dismisses U.S. criticism of tax cases, Reuters says
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06:43 EDTFCXFreeport's Indonesian copper mine output running at normal levels, Reuters says
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January 29, 2016
16:00 EDTFCXOptions Update; January 29, 2016
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January 28, 2016
09:02 EDTPPandora launches Browse
Pandora launched Browse, a new way to help users discover even more music. "Finding new music should be a simple and enjoyable experience," said Chris Phillips, chief product officer of Pandora. "Our musicologists have scored millions of songs to find the perfect music just for you. The new Browse feature makes it easy to find the music you love whether you know what you want, or need a little help discovering music you didn't know existed." The service includes fresh station recommendations, music metrics, and the ability see what's spinning on a station before adding it to station list.
January 27, 2016
16:46 EDTFCXMoody's downgrades Freeport McMoRan to B1 from Baa3, outlook Negative
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16:36 EDTFCXOn The Fly: Top stock stories for Wednesday
Stocks began the session in negative territory as sliding oil prices and disappointing guidance from Apple (AAPL) and Boeing (BA) had investors on the defensive. The averages reversed and moved into positive territory following a rally in oil, which came despite the weekly Department of Energy inventory build up coming in higher than expected. The market pared its gains heading into the Fed's rate announcement and then moved sharply lower following the central banks comments about lower growth in U.S. in 2016. Other comments were less dovish than expected and the market sold off into the close. ECONOMIC EVENTS: In the U.S., new home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. The FOMC rate decision was issued at 2:00 pm, with the Federal Reserve keeping interest rates unchanged and commenting that the "Committee expects that economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate... Inflation is expected to remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further." COMPANY NEWS: Apple (AAPL) declined $6.55, or 6.55% to $93.44 after the tech giant reported first quarter earnings that topped consensus estimates last night, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China... Apple was not the worst performer in the Dow, however, with that distinction going to Boeing (BA). Shares of the commercial airplane maker and defense contractor plummeted $11.43, or 8.93%, to $116.58 after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Shell (RDS.A, RDS.B) investors approved the company's proposed acquisition of BG Group (BRGYY), with roughly 83% of votes cast in favor of the deal. MAJOR MOVERS: Among the notable gainers was SunEdison (SUNE), which added 8.7% to its already meaningful gains over the past several days after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote. Also higher was Freeport McMoRan (FCX), which gained 10.95% to $4.66 after Indonesia's energy minister said he is "certain" of finding a solution to extend the company's copper export permit and as analysts applauded the company's decision to consider selling mining assets to pay down debt. Meanwhile, United Technologies (UTX), Biogen (BIIB) and Norfolk Southern (NSC) rose 0.19%, 5.15% and 1.44%, respectively, following their earnings reports. Among the noteworthy losers was DeVry (DV), which crashed 15.4% to $20.09 after the FTC filed suit over its allegedly deceptive marketing, with the Department of Education also announcing actions against the for-profit education company. Also lower were U.S. Steel (X), VMware (VMW) and Anthem (ANTM), which lost 14.35%, 9.82% and 4.74%, respectively, following their earnings reports. INDEXES: The Dow fell 222.77, or 1.38%, to 15,944.46, the Nasdaq lost 99.51, or 2.18%, to 4,468.17, and the S&P 500 declined 20.68, or 1.09%, to 1,882.95.
16:01 EDTFCXOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures up 1.02 to 26.01. Option volume leaders: AAPL FB BAC NFLX FCX BABA AA X VZ BA T
07:17 EDTFCXFreeport asset sales could bring significant upside, says Jefferies
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06:16 EDTFCXIndonesia, Freeport trying to agree on copper export permit, Reuters says
Indonesia's government is trying to work with Freeport-McMoRan to find some common ground so that the company can still ship copper concentrate for at least another half year, Reuters reports, citing Indonesia's mines minister. Reference Link
05:56 EDTFCXIndonesia 'certain' solution will be found for Freeport permit, Reuters reports
Indonesia's Energy Minister, Sudirman Said, says he is "certain" that a solution will be found to solve the issue of extending Freeport McMoRan's copper concentrate export permit, Reuters reports. The government previously said it would not renew the six-month export permit unless the company set aside another $530M into an escrow account for the miner to extend the permit. Reference Link
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