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Stock Market & Financial Investment News

News Breaks
November 13, 2012
18:25 EDTMPCMarathon Petroleum initiated with an Outperform at Imperial Capital
Target $64.
News For MPC From The Last 14 Days
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February 5, 2016
10:02 EDTMPCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ashford Hospitality Prime (AHP) downgraded to Neutral from Buy at SunTrust... Cascade Microtech (CSCD) downgraded to Hold from Buy at Craig-Hallum... Cinemark (CNK) downgraded to Neutral from Outperform at Credit Suisse... ConocoPhillips (COP) downgraded to Sector Perform from Outperform at Scotia Howard Weil... Credit Suisse (CS) downgraded to Equal Weight from Overweight at Morgan Stanley... Cree (CREE) downgraded to Neutral from Overweight at JPMorgan... Deckers Outdoor (DECK) downgraded to Neutral from Buy at BofA/Merrill... Esterline (ESL) downgraded to Hold from Buy at Canaccord... GrubHub (GRUB) downgraded to Perform from Outperform at Oppenheimer... Kohl's (KSS) downgraded to Underweight from Neutral at Atlantic Equities... LINN Energy (LINE) downgraded to Sell from Hold at Stifel... LinkedIn (LNKD) downgraded to Sector Perform from Outperform at RBC Capital... LinnCo (LNCO) downgraded to Sell from Hold at Stifel... Magellan Midstream (MMP) downgraded to Neutral from Outperform at Credit Suisse... Marathon Petroleum (MPC) downgraded to Neutral from Overweight at JPMorgan... Multi-Fineline (MFLX) downgraded to Hold from Buy at Needham... NIC Inc. (EGOV) downgraded to Market Perform from Outperform at Avondale... Outerwall (OUTR) downgraded to Neutral from Overweight at Piper Jaffray... PPL Corp. (PPL) downgraded to Hold from Buy at Deutsche Bank... PennyMac Mortgage (PMT) downgraded to Equal Weight from Overweight at Barclays... Pixelworks (PXLW) downgraded to Hold from Buy at Lake Street... Qorvo (QRVO) downgraded to Sell from Neutral at Citi... Ralph Lauren (RL) downgraded to Underperform from Neutral at BofA/Merrill... TrueBlue (TBI) downgraded on macro concerns at BMO Capital... WEC Energy (WEC) downgraded to Hold from Buy at Deutsche Bank.
06:27 EDTMPCMarathon Petroleum downgraded to Neutral from Overweight at JPMorgan
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February 3, 2016
16:40 EDTMPCOn The Fly: Top stock stories for Wednesday
Stocks began the session in positive territory but were unable to hold their early gains. Following larger than expected builds in energy inventories, oil moved lower, taking equities with it. By the noon hour oil prices recovered and moved higher once again, helping to lift equities. While oil prices continued their advance and moved up more than 7%, stocks lagged, especially the Nasdaq, which was down as much as 1.5% this afternoon. That changed in the last hours of trading, which saw the Dow spurt higher and the Nasdaq recover most of its losses heading into another heavy dose of corporate earnings reports after the close. ECONOMIC EVENTS: In the U.S., ADP estimated that private payrolls grew by 205,000 jobs in January, topping the consensus forecast for 190,000 job additions. Markit's services PMI came in at 53.2, versus the consensus 53.7 forecast. The Institute for Supply Management's non-manufacturing index came in at 53.5 for January, down from 55.3 in the previous month and below the 55.1 reading forecast by analysts. In Asia, the Caixin services PMI for China climbed to 52.4 in January from 50.2 in December, while Japan's services PMI rose to 52.4 from 51.5 in the prior month. Additionally, China's National Development and Reform Commission set its economic growth projection range for this year at 6.5%-7%, noting that attempts to curb overcapacity will increase unemployment in provinces with high output of steel and coal. In Europe, Markit's composite purchasing managers index for January declined to 53.6 from 54.3 in December. COMPANY NEWS: Shares of Yahoo (YHOO) declined 4.75% to $27.68 after the embattled Internet company reported fourth quarter results and announced plans to simplify its product portfolio and reduce its workforce by roughly 15%. Maynard Webb, Yahoo's chairman, said the board is committed to its turnaround efforts and supportive of management's plan, but also believes that exploring additional strategic alternatives is in the best interest of its shareholders... Chipotle Mexican Grill (CMG) fell 2.89% to $461.92 after reporting lower than expected revenue and a 14% plunge in same-store sales for the quarter. Adding to the negative headlines, the restaurant operator also disclosed a subpoena broadening the scope of a criminal investigation that was previously limited to a single Chipotle location in California. Also punished by food safety worries were shares of Buffalo Wild Wings (BWLD), which slid 4.24% to $143.64 after one of its restaurants was named a suspected source of new norovirus-like cases in suburban Kansas City, though the company disputed a link between its location and the illnesses. The stock continued to move lower in after-hours trading following the company's earnings report and lower than expected guidance... Merck (MRK) was one of the worst performers on the Dow, dipping to as low as $48.58 before ending the day down 0.7% at $50.04 after its earnings narrowly topped estimates but guidance for the new year fell short of expectations. Among other large cap names reporting earnings this morning, Comcast (CMCSA) rose 5.95% following its report, while General Motors (GM) slid 2.43%. MAJOR MOVERS: Among the notable gainers was Autodesk (ADSK), which rallied 8% to $49.56 after announcing a restructuring plan that will see its workforce cut by roughly 10%. Also higher was Angie's List (ANGI), which jumped 13.53% to $9.48 after the New York Post reported that InterActiveCorp (IAC) is preparing a "big run" to acquire the company. In addition, Syngenta (SYT) rose 2% to $80.21 after receiving a $43B-plus takeover offer from ChemChina. Among the noteworthy losers was Lowe's (LOW), which fell 6.2% to $67.42 after agreeing to acquire Canada's RONA in a deal valued at $2.3B. Also lower was Barnes & Noble (BKS), which declined 9.6% to $7.32 after mall operator General Growth (GGP) said during a conference call that Amazon (AMZN) plans to open 300-400 physical bookstores. After the closing bell, General Growth CEO Sandeep Mathrani indicated that his previous statement "was not intended to represent Amazon's plans." Meanwhile, Marathon Petroleum (MPC), Mondelez (MDLZ) and Match Group (MTCH) lost 7.6%, 6.5% and 12.6%, respectively, following their quarterly reports. INDEXES: The Dow rose 183.12, or 1.13%, to 16,336.66, the Nasdaq fell 12.71, or 0.28%, to 4,504.24, and the S&P 500 advanced 9.50, or 0.5%, to 1,912.53.
06:43 EDTMPCMarathon Petroleum reports Q4 EPS 35c with items, consensus 69c
Reports Q4 revenue $15.68M, consensus $16.35B. Q4 EPS includes a pretax charge of $370M or 44c per share to value inventories at lower of cost or market.
February 2, 2016
14:32 EDTMPCNotable companies reporting before tomorrow's open
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