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Stock Market & Financial Investment News

News Breaks
February 22, 2013
10:00 EDTMT, SWKS, TWC, WBMD, CAT, MRVL, V, SLCA, TSS, TASR, PWR, HPQ, ISRG, FTI, EXP, MSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ArcelorMittal (MT) upgraded to Neutral from Underweight at HSBC... Eagle Materials (EXP) upgraded to Buy from Neutral at Sterne Agee... FMC Technologies (FTI) upgraded to Buy from Hold at Dahlman Rose... Hewlett-Packard (HPQ) upgraded to Neutral from Sell at UBS... Intuitive Surgical (ISRG) upgraded to Buy from Neutral at Goldman... Quanta Services (PWR) upgraded to Overweight from Equal Weight at Johnson Rice... RF Micro Devices (RFMD) upgraded to Buy from Neutral at Lazard Capital... TASER (TASR) upgraded to Overweight from Neutral at JPMorgan... Total System (TSS) upgraded to Buy from Neutral at Citigroup... U.S. Silica (SLCA) upgraded to Outperform from Market Perform at William Blair... Marvell (MRVL) upgraded to Buy from Hold at Craig-Hallum... Visa (V) upgraded to Buy from Neutral at Guggenheim... Caterpillar (CAT) upgraded to Outperform from Market Perform at Raymond James... WebMD (WBMD) upgraded to Buy from Hold at Stifel Nicolaus... Time Warner Cable (TWC) upgraded at Macquarie... Total (TOT) upgraded to Buy from Hold at Canaccord... Home Depot (HD) upgraded to Outperform from Perform at Oppenheimer... State Street (STT) upgraded to Buy from Hold at Jefferies... Skyworks (SWKS) upgraded to Overweight from Equal Weight at Stephens... Morgan Stanley (MS) upgraded to Neutral from Underweight at HSBC.
News For MT;EXP;FTI;ISRG;HPQ;PWR;TASR;TSS;SLCA;V;MRVL;CAT;WBMD;TWC;SWKS;MS From The Last 14 Days
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October 17, 2014
13:55 EDTISRGIntuitive Surgical volatility elevated into Q3 and outlook
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12:52 EDTMSOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday, as the averages bounce back following steep declines in several recent sessions. Better than expected earnings from General Electric (GE) and Morgan Stanley (MS), a rebound in European stock markets and a stronger than expected reading on U.S. consumer confidence may all be contributing to the brightened mood evidenced by today's trading. ECONOMIC EVENTS: In the U.S., housing starts rebounded 6.3% to a 1.017M pace in September, beating expectations for a monthly increase of 4.6%. Building permits increased 1.5% to a 1.018M rate, which was below the expected 2.3% rise. The first release on the University of Michigan's consumer sentiment index for October came in at 86.4, versus expectations for a decline to 84.0 from the prior 84.6 reading. COMPANY NEWS: General Electric shares rose over 3% after the company reported better than expected third quarter profit and nearly in-line revenues. Morgan Stanley, whose quarterly results also topped Street expectations, advanced 2.5%. MAJOR MOVERS: Among the notable gainers was Westmoreland Coal (WLB), which gained 23% after it stuck a deal to acquire Oxford GP, the general partner of Oxford Resource Partners (OXF), and contribute certain royalty bearing coal reserves to Oxford in return for Oxford common units. Afterward, Brean Capital raised its price target on Westmoreland to $60, noting the announcement represents an entry into the MLP space. Also higher were shares of Textron (TXT), which advanced 11% after the aircraft and defense company reported better than expected third quarter earnings per share and raised its profit outlook for fiscal 2014. Among the noteworthy losers was Urban Outfitters (URBN), which dropped 13% and was downgraded by at least three Street research firms after the owner of Anthropologie and its namesake clothing stores warned that its Q3 earnings may be negatively impacted by continued weakness in its comparable retail sales. Also lower was Myriad Genetics (MYGN), which fell 7% after guiding to lower than expected Q1 adjusted earnings, citing a higher than expected increase in costs to perform its myRisk Hereditary Cancer test following the test's national launch. INDEXES: Near midday, the Dow was up 295.34, or 1.83%, to 16,412.58, the Nasdaq was up 62.43, or 1.48%, to 4,279.82, and the S&P 500 was up 29.48, or 1.58%, to 1,892.24.
11:01 EDTMSMorgan Stanley says 'no basis' to take adjustment on FVA
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10:56 EDTMSMorgan Stanley trades down from open, levels to watch
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10:38 EDTMSMorgan Stanley says still hard to tell when markets will reset from 'choppiness'
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10:22 EDTMSMorgan Stanley says volatility may affect institutional results
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10:15 EDTMSMorgan Stanley says well positioned for further capital actions
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09:17 EDTMSOn The Fly: Pre-market Movers
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08:48 EDTMTBofA/Merrill global steel analysts hold analyst/industry conference call
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08:00 EDTTWCHBO may have fight with cable operators over OTT service price, Reuters says
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07:19 EDTMSMorgan Stanley reports Q3 Institutional Securities net revenues ex-DVA $4.3B
Wealth Management net revenues were $3.8B. Investment Management reported net revenues of $655M. Fixed Income & Commodities sales and trading net revenues were $997M. James P. Gorman, Chairman and CEO, said, “Morgan Stanley has delivered another quarter of earnings growth and strong performance based on consistent execution for our clients. We are well positioned to create superior returns for our shareholders, particularly as the U.S. economy continues to strengthen.”
07:18 EDTMSMorgan Stanley reports Q3 EPS 65c ex-DVA, tax benefit, consensus 54c
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07:17 EDTMSMorgan Stanley reports Common Equity Tier 1 capital ratio 14.3% at Sept. 30
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07:16 EDTMSMorgan Stanley says Q3 included net discrete tax benefit of 12c per share
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07:16 EDTMS Morgan Stanley reports Q3 EPS 77c ex-DVA, consensus 54c
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06:41 EDTISRGIntuitive Surgical upgraded to Outperform from Market Perform at Leerink
Leerink upgraded Intuitive Surgical to Outperform saying it has greater confidence in the company's ability to accelerate procedure growth after surveying surgeons. The firm raised its price target for shares to $560 from $450.
06:24 EDTHPQStocks with implied volatility below IV index mean; HPQ NFLX
Stocks with implied volatility below IV index mean; HP (HPQ) 31, Netflix (NFLX) 40 according to iVolatility.
06:24 EDTHPQGlobal notebook shipments estimated at over 45M units, Digitimes Research says
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06:21 EDTHPQHP dismisses concerns about drop in global notebook market share, DigiTimes says
HP has dismissed concerns from Taiwan supply chain makers that say the company's global notebook market share may drop significantly following the split, reports DigiTimes. According to makers, HP said it will maintain notebook operations with 2015 target shipments of at least 31M units. Reference Link
06:02 EDTEXPEagle Materials to acquire CRS Proppants for $225M
Eagle Materials announced that the company has entered into a definitive agreement to acquire CRS Proppants and its subsidiaries, including Great Northern Sand, a supplier of high-quality northern-white frac-sand to the energy industry. CRS Proppants’ operations include: A northern-white frac-sand mine and processing facility in Wisconsin that is currently being expanded from approximately one million to two million tons per year capacity; Existing long-term sales contracts with targeted customers for approximately 85% of the two million tons per year of capacity; UP rail-based trans-load network from the mine into the Permian and other target basins. The cash purchase price of approximately $225M is subject to adjustments for working capital and other items, and will be funded by operating cash flow and borrowings under Eagle’s bank credit facility. Revenues, EBITDA and earnings before income taxes from continuing operations for the nine-months through September 30, 2014 for CRS Proppants were $64.7M, $12.2M and $8.7M, respectively. The acquisition is expected to be immediately accretive and synergies of $5M are expected to be realized within the first 12 months. The acquisition will roughly double Eagle’s frac-sand production capacity and expand Eagle’s frac-sand reserves. Under the definitive agreement, the acquisition is subject to certain customary conditions, including clearance under the Hart-Scott-Rodino Act. The company currently expects that the acquisition will close during Eagle’s third fiscal quarter of the current year.
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