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Stock Market & Financial Investment News

News Breaks
August 15, 2014
16:38 EDTPCTY, JCP, ACHN, KO, DDS, MNSTOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory despite some soft economic data points, including a weaker than expected report on manufacturing in the New York area and a lower than expected consumer confidence reading. The market short circuited following reports of a skirmish in the Ukraine where a Russian convoy was supposedly fired upon when it crossed the border. The averages quickly dropped and were only able to partially recover, as investors moved to the sidelines to avoid additional geopolitical risk over the weekend. ECONOMIC EVENTS: The NY Fed's Empire manufacturing survey had a reading of 14.69, versus expectations for a 20.0 reading. The Producer Price Index increased 0.1% overall, matching expectations. The core reading was up 0.2%, which was also in-line with the consensus forecast. Industrial production increased 0.4% in July, beating the consensus 0.2% growth forecast. That nudged up capacity utilization to 79.2%, versus 79.1% previously. The first University of Michigan consumer confidence reading for August fell 2.6 points to 79.2, versus expectations for it to have edged up to 82.0. Treasury international capital data showed foreigners dumped $153.5B in total U.S. assets in July after buying a revised $33.1B in June. COMPANY NEWS: Shares of Monster Beverage (MNST) surged $21.84, or 30.48%, to $93.49 after Coca-Cola (KO) bought a stake in the energy drink maker and the companies announced a long-term strategic partnership and asset swap. Coca-Cola will pay $2.15B for a 16.7% stake in Monster, the companies announced last night. Under the terms of their agreement, Coca-Cola will add two directors to Monster's board. Coke will transfer ownership of its worldwide energy business including brands like NOS, Full Throttle, Burn, Mother, Play and Power Play, and Relentless to Monster, in trade for which Monster will transfer its non-energy business to Coke. MAJOR MOVERS: Among the notable gainers was Achillion Pharmaceuticals (ACHN), which rose 81c, or 9.6%, to $9.25 after the company announced interim results from an ongoing Phase 2 proxy study of a potential chronic hepatitis C virus regimen that analysts at Piper Jaffray called "impressive." Also higher was Paylocity (PCTY), which advanced $2.17, or 9.79%, to $24.34 after reporting better than expected fourth quarter revenue and guiding to higher than expected sales in its first quarter. Among the noteworthy losers was retailer J.C. Penney (JCP), which fell 24c, or 2.46%, to $9.50 despite posting a narrower than expected loss for the second quarter. Also lower were shares of another department store owner, Dillard's (DDS), which dropped $9.49, or 8.21%, to $106.11 after reporting quarterly results that missed expectations. INDEXES: The Dow dropped 50.67, or 0.3%, to 16,662.91, the Nasdaq gained 11.92, or 0.27%, to 4,464.93, and the S&P 500 slipped 0.12, or 0.01%, to 1,955.06.
News For MNST;KO;JCP;DDS;ACHN;PCTY From The Last 14 Days
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September 1, 2015
10:59 EDTJCPStocks with call strike movement; JCP HAL
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August 31, 2015
10:48 EDTJCPJ.C. Penney rises after analyst upgrades stock, calls company 'self-help story'
Shares of retailer J.C. Penney (JCP) saw a boost in morning trading after an analyst from Deutsche Bank upgraded his rating on the company's shares, remarking on the company as a "self-help story." WHAT'S NEW: Deutsche Bank analyst Paul Trussell this morning upgraded J.C. Penney to Buy from Hold. Trussell also upgraded his price target to $12 from $10, noting that the company has already improved its merchandise mix and is now moving toward better pricing and fewer markdowns. Trussell said that the company's target of mid-single digit same-store sales growth looks "achievable" and its brands and assortment "look right." The analyst added that Marvin Ellison, the company's chief executive officer, is "driving the next step" to "bring JCP up the curve in pricing and markdown optimization, supply chain, leveraging IT and reducing corporate redundancies." Trussell, who also said he views the company as a "self-help story with multiple levers to pull," maintained "slightly" conservative estimates given the challenging competitive environment, but sees meaningful upside to the stock. WHAT'S NOTABLE: Other analysts have been relatively bullish on J.C. Penney shares in recent weeks after the company reported better than expected results for the second quarter on August 14. At that time, J.C. Penney reported a loss per share of 45c on revenue of $2.88B and said it expects to be free cash flow breakeven in fiscal year 2015. Additionally, the retailer backed its FY15 SSS view of up 4%-5% and said on its earnings conference call that it expects third quarter SSS to grow sequentially from Q2. J.C. Penney also expressed "confidence" in its ability to meet its $1.2B EBITDA target by 2017. On August 17, Piper Jaffray analyst Neely Tamminga raised her price on the company's shares to $17 from $15. Tamminga said that the company showed the ability for the second straight quarter to reach EBITDA targets regardless of top-line performance. The Piper analyst said she continues to rate the company a top pick for 2015. The same day, B. Riley analyst Jeff Van Sinderen initiated coverage of J.C. Penney with a Buy rating and a $12.50 price target, saying he views Penney as a "speculative turnaround" story and believes the company's "substantial" real estate assets partially offset its heavy debt load. The Fly notes that CEO Marvin Ellison will be speaking at Goldman Sachs 22nd Annual Global Retailing Conference on September 9. PRICE ACTION: J.C. Penney shares are up 3.24% to $9.23 in morning trading.
10:01 EDTJCPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: 58.com (WUBA) upgraded to Overweight from Underweight at Morgan Stanley... AU Optronics (AUO) upgraded to Outperform from Underperform at Bernstein... Asbury Automotive (ABG) upgraded to Neutral from Underperform at Buckingham... Astec (ASTE) upgraded on upcoming catalysts at Stifel... Baidu (BIDU) upgraded to Buy from Hold at Jefferies... Bob Evans (BOBE) upgraded to Sector Weight from Underweight at KeyBanc... CNOOC (CEO) upgraded to Buy from Neutral at BofA/Merrill... Dover (DOV) upgraded on valuation, headwinds bottom at Bernstein... Envestnet (ENV) upgraded to Outperform from Market Perform at Avondale... Generac (GNRC) upgraded to Outperform from Market Perform at William Blair... Gold Fields (GFI) upgraded to Sector Perform from Underperform at Scotia Howard Weil... Goldman Sachs (GS) upgraded to Buy from Hold at Evercore ISI... Intel (INTC) upgraded to Outperform from Market Perform at Northland... J.C. Penney (JCP) upgraded to Buy from Hold at Deutsche Bank... Leggett & Platt (LEG) upgraded to Outperform from Market Perform at Raymond James... Morgan Stanley (MS) upgraded to Buy from Hold at Evercore ISI... Newmont Mining (NEM) upgraded to Outperform from Sector Perform at Scotia Howard Weil... Pan American Silver (PAAS) upgraded to Outperform at Scotia Howard Weil... QLogic (QLGC) upgraded to Buy from Hold at Summit Research... Stanley Black & Decker (SWK) upgraded to Outperform from Neutral at Macquarie... Telefonica Brasil (VIV) upgraded to Overweight from Equal Weight at Morgan Stanley... Tenet (THC) upgraded to Outperform from Market Perform at BMO Capital... Twitter (TWTR) upgraded to Buy from Neutral at SunTrust... UIL Holdings (UIL) upgraded to Hold from Sell at Argus... Vocera (VCRA) upgraded to Outperform from Market Perform at Leerink... Wisconsin Energy (WEC) upgraded to Conviction Buy from Buy at Goldman.
09:48 EDTJCPJ.C. Penney tests recent range highs
The shares are bucking the broader market trend and heading higher, last up over 1.8% to $9.10. The next level of major resistance would be at $9.42, a high that has not been met since April. Support is at $9.03. A breakout above $9.42 would break the stock out of a long base, which would be technically bullish for future price.
09:24 EDTJCPOn The Fly: Pre-market Movers
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06:54 EDTJCPJ.C. Penney upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Paul Trussell upgraded J.C. Penney to Buy and raised his price target for shares to $12 from $10. The retailer closed Friday up 47c to $8.94. Penny's target of mid-single-digit same-store-sales growth looks achievable while the company's brands and assortment look right, Trussell tells investors in a research note. Further, new CEO Marvin Ellison is bringing Penny "up the curve" in pricing and markdown optimization while reducing corporate redundancies, the analyst writes. He views the company as a "self-help story with multiple levers to pull."
August 28, 2015
06:03 EDTJCPJ.C. Penney implied volatility of 48 at lower end of index mean range
August 25, 2015
07:08 EDTKOCoca-Cola says to meet 2020 water replenishment goal by end of 2015
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August 23, 2015
13:36 EDTKOCoca-Cola shares could return 30% over next few years, Barron's says
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August 20, 2015
19:53 EDTJCP, KORetailers, others question heightened fees at Port of Oakland, WSJ says
After the Port of Oakland said it is considering implementing additional fees, the Retail Industry Leaders Association told the Federal Maritime Commission that it is "troubled" due to the lack of details regarding the fees, according to the Wall Street Journal. The retailer group also questioned the general effectiveness of such a program, and the Agriculture Transportation Coalition echoed the criticism, said the report. Note that executives from Lowe's (LOW), Best Buy (BBY), Target (TGT), Coca-Cola (KO), J.C. Penney (JCP), Tyson Foods (TSN), SunOpta (STKL), and Whole Foods (WFM) serve on the boards of the aforementioned associations. Reference Link
18:49 EDTKOCoca-Cola CEO says 'we'll do better' on research funding, WSJ reports
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16:59 EDTDDSDillard's raises quarterly dividend to 7c from 6c per share
Dillard's announced that the Board of Directors declared a cash dividend of 7c per share on the Class A and Class B Common Stock of the company payable November 2 to shareholders of record as of September 30.
11:49 EDTACHNOptions with increasing implied volatility
Options with increasing implied volatility: SRPT ACHN VIAV ZG RAD DIS ORCL SPY XLF OEX
10:28 EDTJCPOptions with decreasing implied volatility
Options with decreasing implied volatility: KING JCP URBN DKS JWN HIG ADI DAR LOW TJX
August 19, 2015
14:25 EDTKOCoca-Cola has option for outright purchase of Suja, Bloomberg says
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14:13 EDTKOCoca-Cola said to have option to eventually buy Suja, Bloomberg says
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13:23 EDTJCPOptions with increasing call volume
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11:48 EDTKOCoca-Cola makes minority investment in Suja, Suja says in blog
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10:14 EDTJCPOptions with decreasing implied volatility
Options with decreasing implied volatility: KING SUNE YY JCP URBN NTES DKS DANG SINA KSS

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