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February 26, 2013
10:00 EDTMO, ROSE, KYO, MDP, RIG, AFFY, CHMT, ATW, LO, TSN, MMC, OKS, TC, TXN, LSI, ATML, ADM, CLOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Altria Group (MO) downgraded to Neutral from Buy at BofA/Merrill... Archer Daniels (ADM) downgraded to Market Perform from Outperform at BMO Capital... Atmel (ATML) downgraded to Market Perform from Outperform at FBR Capital... Colgate-Palmolive (CL) downgraded to Neutral from Buy at BofA/Merrill... LSI Corp. (LSI) downgraded to Market Perform from Outperform at FBR Capital... Texas Instruments (TXN) downgraded to Equal Weight from Overweight at Evercore... Thompson Creek (TC) downgraded to Reduce from Hold at TD Securities... ONEOK Partners (OKS) downgraded to Neutral from Outperform at Credit Suisse... Marsh & McLennan (MMC) downgraded to Hold from Buy at Sandler ONeill... Altria Group (MO) downgraded at BofA/Merrill... Oceaneering (OII) downgraded to Neutral from Outperform at Macquarie... Tyson Foods (TSN) downgraded to Equal Weight from Overweight at Stephens... Lorillard (LO) downgraded to Underperform from Buy at CLSA... Colgate-Palmolive (CL) downgraded at BofA/Merrill... Atwood Oceanics (ATW) downgraded to Neutral from Outperform at Macquarie... Transocean (RIG) downgraded to Neutral from Outperform at Macquarie... Chemtura (CHMT) downgraded to Perform from Outperform at Oppenheimer... Meredith (MDP) downgraded to Neutral from Overweight at Piper Jaffray... Affymax (AFFY) downgraded to Neutral from Buy at Lazard Capital... Kyocera (KYO) downgraded to Neutral from Buy at BofA/Merrill... Rosetta Resources (ROSE) downgraded to Sell from Hold at Miller Tabak.
Check below for free stories on MO;ADM;ATML;LSI;TXN;TC;OKS;MMC;TSN;LO;ATW;CHMT;AFFY;RIG;MDP;KYO;ROSE;CL the last two weeks.
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September 9, 2014
07:08 EDTOKSONEOK Partners initiated with a Market Perform at BMO Capital
Target $60.
September 8, 2014
08:11 EDTMOAltria Group price target raised to $46 from $43 at Stifel
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07:21 EDTCHMTKeyBanc to hold a conference
2014 Basic Materials & Packaging Conference to be held in Boston on September 8-10.
September 6, 2014
18:25 EDTRIGTransocean shares could climb 33%, Barron's says
Transocean shares could rebound around 33%, as ocean drilling increases, Barron's argues in a follow up article. Reference Link
September 4, 2014
16:24 EDTRIGOn The Fly: Closing Wrap
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14:23 EDTADMArcher Daniels initiated with a Buy at Janney Capital
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12:35 EDTRIGTransocean issues statement on court ruling related to Macondo well incident
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12:34 EDTRIGOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory after the ECB lowered its benchmark interest rate and took additional measures in an attempt to stimulate the region’s economy. The averages had some early momentum, but found a level about an hour into trading around which they have since traded in a narrow range. ECONOMIC EVENTS: In the U.S., payroll provider ADP estimated private sector employment increased by 204K jobs in August, which was below the consensus forecast for 215K private sector jobs to have been added. Initial jobless claims rose 4K to 302K in the week ended August 30, which was close to the 300K estimate. The trade deficit narrowed slightly to $40.5B in July, beating expectations for a deficit of $42.5B. Second quarter nonfarm productivity growth was revised lower to 2.3% versus the 2.5% pace reported initially. Unit labor costs were revised down to a decrease of 0.1% from a rise of 0.6% estimated previously. Markit's services PMI for August came in at 59.5, versus a consensus forecast of 58.5. ISM's non-manufacturing PMI for August had a reading of 59.6, easily topping the 57.7 consensus estimate. In Europe, the European Central Bank unexpectedly cut the rate at which it issues short-term loans to banks to 0.05% from 0.15% and lowered its growth forecasts for 2014 and 2015. The ECB also announced plans to buy asset-backed securities, which the central bank's president Mario Draghi said will have a “sizable” impact on its balance sheet without providing further details on the size of the planned purchases. COMPANY NEWS: Shares of oil major BP (BP) trading in New York fell about 6% after a federal judge ruled that the company acted with "gross negligence" in causing the Gulf of Mexico spill in 2010 that was the biggest offshore oil spill in U.S. history. U.S. District Judge Carl Barbier, who held a trial without a jury over who was at fault, also found Transocean (RIG) and Halliburton (HAL) "negligent," but rested much more of the blame on BP, with 67% of the liability assigned to BP, 30% to Transocean and 3% to Halliburton. Afterward, BP said it "strongly disagrees" with the decision and will immediately appeal. MAJOR MOVERS: Among the notable gainers following their earnings reports were Mattress Firm (MFRM), which rose 12%, and Methode Electronics (MEI), which gained 16%. Also higher was Bolt Technology (BOLT), which surged 36% after the company agreed to be acquired by Teledyne Technologies (TDY) for $22.00 per share in cash. Shares of Teledyne advanced nearly 2% following last night's deal announcement. Among the noteworthy losers was Matrix Service (MTRX), which dropped 21% after its earnings for the just completed quarter and its profit forecast for its new fiscal year fell short of analysts' expectations. Also lower following their earnings reports were Ciena (CIEN), which fell over 7%, and Shoe Carnival (SCVL), which dropped more than 10%. INDEXES: Near midday, the Dow was up 43.83, or 0.26%, to 17,122.11, the Nasdaq was up 15.15, or 0.33%, to 4,587.71, and the S&P 500 was up 5.23, or 0.26%, to 2,005.95.
11:09 EDTRIGBP falls after found 'grossly negligent' in spill ruling
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10:44 EDTRIGBP found grossly negligent in Macondo spill, fines may rise, Bloomberg reports
U.S. District Judge Carl Barbier has found BP (BP) "grossly negligent" in its handling of the 2010 Gulf of Mexico oil spill, which killed 11 people and spewed oil for nearly three months, Bloomberg reports. Transocean (RIG) and Halliburton (HAL) were also involved in the case, but the federal judge did not find them as responsible as BP for the spill. BP could face fines of up to $18B for the spill. Reference Link
10:26 EDTRIGHalliburton, Transocean cleared of gross negligence in spill, Bloomberg reports
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09:26 EDTTSNTyson Foods backs FY14 EPS ex-items view of at least $2.78 per share
Consensus $2.81. Tyson CFO Dennis Leatherby stated at the Barclays Back-to-School Consumer Conference that he expects the addition of Hillshire to be accretive to earnings in fiscal 2015 and substantially accretive thereafter, adding that he expects at least 10% EPS growth in FY15.
09:24 EDTTSNTyson Foods CEO says moving forward quickly with Hillshire integration
Tyson President and CEO Donnie Smith told investors at the annual Barclays Back-to-School Consumer Conference that the process for combining the company with Hillshire is well underway, stating, "We're moving forward quickly with the integration and finding synergies, and we feel good about our ability to capture $225M in synergies in the first year and $500M by year three." Smith added, "The more we get into it, the better we feel," according to presentation recap provided by the company.
September 3, 2014
18:43 EDTMMCMarsh Canada acquires Kocisko Insurance Brokers
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16:22 EDTLOLorillard subsidiaries sue Zippo in the UK
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08:40 EDTATWAtwood Oceanics announces delivery of Atwood Achiever
Atwood Oceanics announced the delivery of the Atwood Achiever from the Daewoo Shipbuilding & Marine Engineering shipyard in South Korea. The Atwood Achiever has commenced the mobilization phase of its drilling services contract with Kosmos Energy and is expected to arrive in Northwest Africa in early December to conduct a three-year exploration drilling program.
08:21 EDTMOAltria Group backs FY14 adjusted EPS view $2.54-$2.59, consensus $2.57
Altria reaffirms its 2014 full-year guidance for both reported and adjusted diluted EPS to be in a range of $2.54-$2.59 ahead of its appearance at the Barclays Back-To-School Consumer Conference.
September 2, 2014
10:57 EDTATWAtwood Oceanics management to meet with Guggenheim
Meeting to be held New York on September 4 hosted by Guggenheim.
09:25 EDTADMCargill acquires Archer Daniels'global chocolate business for $440M
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09:15 EDTADMArcher Daniels to sell global chocolate business to Cargill for $440M
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