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February 10, 2014
10:00 EDTMT, BYI, FTI, FWM, MDC, MWW, NFG, BWPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ArcelorMittal (MT) downgraded to Neutral from Buy at BofA/Merrill... Bally Technologies (BYI) downgraded to Neutral from Buy at Janney Capital... FMC Technologies (FTI) downgraded to Market Perform from Outperform at William Blair... Fairway Group (FWM) downgraded to Underperform from Neutral at BofA/Merrill... M.D.C. Holdings (MDC) downgraded to Neutral from Outperform at Credit Suisse... Monster Worldwide (MWW) downgraded to Market Perform from Outperform at FBR Capital... National Fuel (NFG) downgraded to Market Perform from Outperform at BMO Capital... Boardwalk Pipeline (BWP) downgraded to Underperform from Neutral at Credit Suisse.
News For MT;BYI;FTI;FWM;MDC;MWW;NFG;BWP From The Last 14 Days
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August 1, 2014
08:52 EDTBYIScientific Games says Bally transaction immediately accretive following closing
Expects transaction to close in early 2015. 80% of $220M in synergies will be achieved by the end of the first year. Estimates $75M over two year period to achieve synergies. Comments taken from conference call to discuss Scientific Games acquisition of Bally Technologies.
08:06 EDTBYIScientific Games to host conference call
Conference call to discuss agreement to acquire Bally Technologies, Inc. will be held on August 1 at 8:30am. Webcast Link
07:30 EDTBYIScientific Games says Isaacs to continue as president and CEO
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07:30 EDTBYIBally Technologies volatility expected to move on Scientific Games acquiring
Bally Technologies (BYI) volatility expected to move on Scientific Games (SGMS) acquiring for $83.30 per share. Overall option implied volatility of 36 is above its 26-week average of 32 according to Track Data, suggesting large price movement.
07:23 EDTBYIScientific Games to acquire Bally Technologies for $83.30 per share, or $5.1B
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07:22 EDTBYIScientific Games to acquire Bally Technologies for $83.30 per share, or $5.1B
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July 31, 2014
11:13 EDTFWMWhole Foods retreats after lowering guidance
Shares of Whole Foods Market (WFM) are sinking after the company cut its full-year guidance. WHAT'S NEW: Whole Foods reported stronger than expected third quarter revenue and earnings per shares of $3.4B and 41c, respectively, and said that its comparable store sales had risen 3.9%. However, the supermarket operator cut its full-year sales growth outlook to 9.6%-9.9% from its previous guidance of 10.5%-11%. The company also reduced its full-year EPS outlook to $1.52-$1.54 from $1.52-$1.56 and cut its full-year comparable sales growth guidance to 4.1%-4.4% from 5%-5.5%. "Our business model is producing industry-leading sales per gross square foot, healthy returns on invested capital and strong operating cash flow," said Whole Foods co-CEO Walter Robb in a statement. "We are seeing signs of stability in our sales trends and believe our strategic initiatives will help generate further momentum and produce increasing returns on invested capital over the long term," Robb added. ANALYST REACTION: JPMorgan analyst Ken Goldman downgraded the stock to Neutral from Overweight, stating that the company is likely to deliver low fiscal 2015 EPS as it increases its investments in a number of areas, including advertising, store refreshes, and home delivery. Additionally, Whole Foods could lower its fiscal 2015 EPS guidance well below the $1.74 it provided last quarter, the analyst added. Goldman reduced his fiscal 2015 and fiscal 2016 EPS estimates significantly below consensus levels and cut his price target on the stock to $38 from $48. Also downgrading the stock was UBS analyst Jason DeRise. Increased competition has caused Whole Foods' market share gains in natural food to stall, according to DeRise. To attract additional natural food customers it must cut its prices, he contended. The analyst downgraded the stock to Neutral from Buy and cut his price target to $41 from $48. Morgan Stanley was more upbeat on the stock, saying that the company's growth is poised to re-accelerate over the longer term. The firm recommended buying the stock on weakness and kept a $50 price target and Overweight rating on the shares. PRICE ACTION: In mid-morning trading, Whole Foods fell 3.4% to $37.76. Other supermarket stocks also retreated, with The Fresh Market (TFM) falling 3.5% to $29.62, Fairway Group (FWM) losing 1.8% to $5.95, and Kroger (KR) losing 1% to $49.22.
July 29, 2014
09:05 EDTBYIBally's iVIEW Display Manager, EBS selected by Double Eagle Casino
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06:06 EDTMDCM.D.C. Holdings reports Q2 EPS 44c, consensus 40c
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July 28, 2014
16:34 EDTNFGNational Fuel unit raises FY14 production outlook to 160-168 Bcfe
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16:33 EDTNFGNational Fuel unit Seneca reports Q3 production 40.6 Bcfe
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July 25, 2014
10:56 EDTFTIFMC Technologies discloses receipt of SEC subpoena in Q2
FMC Technologies disclosed that during the second quarter, the company received an inquiry and a subpoena from the SEC seeking information about certain accruals for paid time off , or PTO, during the first quarter of 2013. The company has cooperated and fully responded to the requests for information. The inquiry is with regard to the reversal of an accrual for PTO that caused the liability for PTO to be understated for the quarter ended March 31, 2013. During the second quarter of 2013, the company identified and corrected the understatement of the PTO liability and assessed and concluded that the correction was not material, or $0.6M, net of tax, to the company’s consolidated financial statements for the quarters ended March 31 and June 30, 2013, respectively. The company discussed the matter with its independent registered public accounting firm and the company’s Audit Committee, FMC stated.
July 24, 2014
09:08 EDTBYIBally Technologies selected by Muckleshoot Casino for Systems solutions
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July 22, 2014
18:33 EDTFTIOn The Fly: After Hours Movers
UP AFTER EARNINGS: Broadcom (BRCM), consensus up 3% after reporting second quarter results... Intuitive Surgical (ISRG), up 10.4%... Manhattan Associates (MANH), up 3%... Robert Half International (RHI), up 3.9%... Hawaiian Holdings (HA), up 3.1%... Microsoft (MSFT), up just under 1%... FMC Technologies (FTI), up 1.1%. ALSO HIGHER: Ballard Power Systems (BLDP), up 2.7% following purchase order from New Flyer Industries... Unwired Planet (UPIP), up 2.4% after filing a lawsuit against Microsoft for breach of contract. NOTABLE: Puma Biotechnology (PBYI), up 193.8% after reporting positive top line results from Phase III PB272 trial. DOWN AFTER EARNINGS: Xilinx (XLNX), down 8.7%... Apple (AAPL), down after reporting third quarter results and fourth quarter guidance... Juniper Networks (JNPR), down 4.7%... ALSO LOWER: Farmland Partners (FPI), down 3.8% after filing to sell 3.72M shares of common stock.
16:19 EDTFTIFMC Technologies reports backlog $7.3B
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16:18 EDTFTIFMC Technologies raises FY14 EPS view to $2.70-$2.80 from $2.55-$2.75
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16:16 EDTFTIFMC Technologies reports Q2 EPS 95c with items, consensus 63c
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15:30 EDTFTINotable companies reporting after market close
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July 21, 2014
09:03 EDTBYIBally Technologies partners with Mohegan Sun
Bally Technologies has partnered with Mohegan Sun in Uncasville, Conn., for the world’s largest installation of table game progressive jackpots. Bally’s new Game Manager 2 software will be used to track progressive jackpots on 43 tables across Mohegan Sun’s three casinos: Casino of the Earth, Casino of the Sky, and Casino of the Wind. The Mohegan Sun upgrade marks the installation of the greatest number of table game progressives Bally has performed in North America.
08:16 EDTFTIFMC Technologies signs agreement to develop susbsea equipment and systems
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