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Stock Market & Financial Investment News

News Breaks
January 28, 2014
10:00 EDTAIG, BMRC, AJG, SANM, FTNT, MT, MLM, DFS, TCBI, SBH, CORR, BPESF, VMC, PCL, LUV, MXIM, CBMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ArcelorMittal (MT) upgraded to Outperform from Sector Perform at RBC Capital... Cambrex (CBM) upgraded to Overweight from Equal Weight at First Analysis... CorEnergy (CORR) upgraded to Buy from Neutral at BofA/Merrill... Fortinet (FTNT) upgraded to Outperform from Market Perform at JMP Securities... Maxim Integrated (MXIM) upgraded to Overweight from Equal Weight at Barclays... Sally Beauty (SBH) upgraded to Buy from Neutral at Sterne Agee... Sanmina (SANM) upgraded to Buy from Hold at Needham... Southwest (LUV) upgraded to Outperform from In-Line at Imperial Capital... Texas Capital (TCBI) upgraded to Buy from Neutral at SunTrust... Arthur J. Gallagher (AJG) upgraded to Outperform from Neutral at Macquarie... Plum Creek Timber (PCL) upgraded to Buy from Neutral at DA Davidson... Discover (DFS) upgraded to Overweight from Equal Weight at Morgan Stanley... Bank of Marin (BMRC) upgraded to Outperform from Market Perform at Fig Partners... Enterprise Financial upgraded to Outperform from Market Perform at Fig Partners... Vulcan Materials (VMC) upgraded to Buy from Hold at Stifel... Martin Marietta (MLM) upgraded to Buy from Hold at Stifel... AIG (AIG) added to US 1 List at BofA/Merrill... Banco Popular (BPESF) upgraded to Outperform from Neutral at Credit Suisse.
News For MT;CBM;CORR;FTNT;MXIM;SBH;SANM;LUV;TCBI;AJG;PCL;DFS;BMRC;VMC;MLM;AIG;BPESF From The Last 14 Days
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August 20, 2015
10:00 EDTTCBIOn The Fly: Analyst Initiation Summary
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09:31 EDTDFSDiscover announces strategic network service agreement with Elo
Discover Financial Services and Elo, a Brazilian credit card brand, announced a strategic agreement that will allow acceptance of Elo Global Cards for international purchases and cash access outside of Brazil on the Discover Global Network, which includes Discover Network, Diners Club International and the PULSE network. The agreement will focus initially on enabling Elo Global Cards to have acceptance in more than 185 countries and territories via the Discover Global Network. Elo and Discover also will collaborate on the integration of Discover's EMV solution, D-PAS, to help ensure safe international transactions and continue to work together on new emerging payment products in the future. Elo will continue to use its own proprietary application for domestic transactions.
August 19, 2015
17:14 EDTTCBITexas Capital initiated with a Neutral at Sterne Agee CRT
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07:38 EDTCORREnerCom to hold a conference
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August 18, 2015
20:00 EDTLUVAirline stocks fall as companies face probes, labor issues, WSJ says
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18:30 EDTMXIMChip makers advance after Analog Devices reports Q3 financial results
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16:13 EDTAIGAIG to exit stake in AerCap
09:51 EDTFTNTFireEye called top-tier security vendor in new upgrade
Shares of FireEye (FEYE) are getting a boost after Imperial Capital highlighted the company's "significant progress" when upgrading its rating on the name. California-based FireEye is a provider of cybersecurity solutions. UPGRADE: Imperial Capital analyst Michael Kim upgraded FireEye to Outperform from In-Line this morning in a note to investors, citing a favorable risk/reward at current share levels. The stock trades at the lower valuation end of similar high-growth security vendors, Kim tells investors in a research note. He believes FireEye is making "significant progress" on driving higher sales productivity and margin expansion. Ramping global adoption of the company's platform has made FireEye a top-tier security vendor, Kim argues. He raised his price target for shares to $55 from $45.50. NOT ALONE: Kim is not alone in recommending stocks in the cybersecurity space. Analysts at Piper Jaffray and Wells Fargo last week highlighted security names that they view as attractive investments. CyberArk Software (CYBR), Barracuda Networks (CUDA) and Fortinet (FTNT) were among the stocks recommended by the firms. Piper Jaffray analyst Andrew Nowinski said the recent pullback in the sector is an attractive buying opportunity. Stocks with the most attractive valuations include Barracuda, CyberArk, Fortinet and Palo Alto Networks (PANW), he told investors last week. Wells Fargo analyst Gray Powell last week upgraded Israel-based CyberArk to Outperform from Market Perform saying the company's billings growth as well as its sales and marketing efficiencies are "exceeding peers by a wide margin. HACKS CONTINUE: High-profile cyber attacks continue with the Internal Revenue Service yesterday raising the number of accounts that were compromised in a data breach earlier this year. In May, the IRS revealed that 114,000 tax accounts through its "Get Transcript" application were exposed to thieves. Yesterday, the agency said a recent review revealed approximately 220,000 additional tax accounts may have been breached, bringing the total number of victims up to 334,000. Shares of FireEye are up 56c to $44.21 in early trading. CyberArk is up 13c to $60.06 while Proofpoint (PFPT), a company focused on securing email communication, is up 16c to $65.06.
09:05 EDTMXIMMaxim Integrated management to meet with Evercore ISI
Meetings to be held in Minneapolis/Milwaukee/Chicago August 24-25 hosted by Evercore ISI.
August 17, 2015
14:27 EDTFTNTIRS says cyber attack larger than originally thought, AP says
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10:09 EDTTCBIOn The Fly: Analyst Downgrade Summary
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09:02 EDTLUVSouthwest management to meet with Sterne Agee
Meeting to be held in Dallas on August 21 hosted by Sterne Agee.
08:26 EDTDFSDiscover reports July net charge-offs 1.43% vs. 1.60% last month
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08:17 EDTVMCVulcan Materials upgraded to Neutral from Underperform at DA Davidson
DA Davidson upgraded Vulcan to Neutral and raised its price target to $106 from $90 following the Q2 report. The firm upgraded shares based on relative valuation and favorable outlook for both heavy materials and domestic construction industry fundamentals.
06:06 EDTTCBITexas Capital downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray analyst Brett Rabatin downgraded Texas Capital Bancshares to Neutral with a $61 price target.
August 16, 2015
18:20 EDTLUVFAA working with airlines to restore operations after August 15 cancellations
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17:54 EDTMTUnited Steelworkers union prepares for week of strike action
The United Steelworkers union said it is preparing for a "busy week of events" at U.S. Steel (X), ArcelorMittal (MT), and Cliffs Natural (CLF), as the union's steelworkers prepare for various strike actions and rallies from August 19-21. USW notes that contract negotiations with the companies "continue to proceed slowly," though it reassured that the union committee "continues to meet both internally and with management as the process continues." Reference Link
August 14, 2015
16:44 EDTMXIMThird Point gives quarterly update on stakes
NEW STAKES: Baxter (BAX), T-Mobile (TMUS), Sealed Air (SEE), Devon (DVN), and Perrigo (PRGO). INCREASED STAKES: SunEdison (SUNE), Dow Chemical (DOW), Mohawk (MHK), Yum! Brands (YUM), and IAC/InterActiveCorp (IACI). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Sensata (ST), Masco (MAS), and Delta (DAL). LIQUIDATED STAKES: Dollar General (DG), McKesson (MCK), Edgewell Personal Care (EPC), Maxim (MXIM), and FleetCor (FLT).
07:59 EDTFTNTAnalysts recommend cybersecurity stocks after recent underperformance
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07:00 EDTFTNTSecurity stocks underperformed despite 'solid' results, says Piper Jaffray
Piper Jaffray analyst Andrew Nowinski says the security stocks he covers have underperformed the Nasdaq composite despite delivering "solid beat-and-raise" results. With the exception of Fortinet (FTNT) and Imperva (IMPV), the remaining security stocks within Nowinski's security coverage universe have all underperformed the Nasdaq. Symantec (SYMC) has underperformed by 0.7%, CyberArk by 1.6%, Proofpoint (PFPT) by 5.3%, Palo Alto by 7.4%, FireEye (FEYE) by 8.4% and Barracuda by 36.7%, Nowinski tells investors this morning in a research note. Investors remain concerned with the potential for a moderation in spending, the analyst believes. However, his channel checks with resellers suggest demand should remain strong for the next 12 months. Nowinski views the recent pullback in the sector as an attractive buying opportunity. Stocks with the most attractive valuations include Barracuda Networks (CUDA), CyberArk Software (CYBR), Fortinet (FTNT) and Palo Alto Networks (PANW), Nowinski writes. Wells Fargo this morning upgraded shares of CyberArk to Outperform.
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