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Stock Market & Financial Investment News

News Breaks
May 15, 2014
10:01 EDTVOXX, STO, PHMD, HII, BEAV, WAC, URBN, SWN, LFL, CXP, AAUKY, VOD, TOT, O, ITC, BMY, MTGEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Capital Mortgage (MTGE) downgraded to Market Perform at JMP Securities... Anglo American (AAUKY) downgraded to Neutral from Outperform at Credit Suisse... BE Aerospace (BEAV) downgraded to Neutral from Buy at UBS... Bristol-Myers (BMY) downgraded at BMO Capital... Columbia Property Trust (CXP) downgraded to Equal Weight from Overweight at Morgan Stanley... Huntington Ingalls (HII) downgraded at BofA/Merrill... ITC Holdings (ITC) downgraded to Neutral from Overweight at JPMorgan... LATAM Airlines (LFL) downgraded to Market Perform from Outperform at Raymond James... PhotoMedex (PHMD) downgraded to Hold from Buy at Ascendiant... Realty Income (O) downgraded to Neutral from Buy at Ladenburg... Southwestern Energy (SWN) downgraded to Neutral from Conviction Buy at Goldman... Statoil (STO) downgraded to Sector Perform from Top Pick at RBC Capital... Total (TOT) downgraded to Sector Perform from Outperform at RBC Capital... Urban Outfitters (URBN) downgraded to Market Perform from Outperform at FBR Capital... VOXX International (VOXX) downgraded to Neutral from Buy at B. Riley... Vodafone (VOD) downgraded to Neutral from Buy at Goldman... Walter Investment (WAC) downgraded to Sell from Neutral at Compass Point.
News For MTGE;AAUKY;BEAV;BMY;CXP;HII;ITC;LFL;PHMD;O;SWN;STO;TOT;URBN;VOXX;VOD;WAC From The Last 14 Days
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August 18, 2015
10:00 EDTLFLOn The Fly: Analyst Downgrade Summary
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08:12 EDTSTO, TOTGlobal Big Oil sector upgraded at Citi
Citi analysts Alastair Syme and Michael Alsford upgraded their rating on the Global Big Oil space and now recommend investors position "at least a benchmark-weight" in the group. The analysts, who had been multi-year cautious on the space, prefer Total (TOT), ConocoPhillips (COP) and Statoil (STO), which they call "self-helpers." The sector price-to-book ratio of 1.2 times is now below the Q1 of 2009 and Q4 of 1998 troughs, Syme and Alsford write. Cost-cutting and better capital allocation are key to restoring the industry's profitability, they believe.
07:47 EDTURBNUrban Outfitters reported 'enviable' results, says Stifel
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07:41 EDTURBNUrban Outfitters remains one of best positioned retailers, says Baird
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07:29 EDTSWNEnerCom to hold a conference
The Oil & Gas Conference is being held in Denver, Colorado on August 16-20 with webcasted company presentations to begin on August 18 at 10:00 am; not all company presentations may be webcasted. Webcast Link
07:22 EDTBMYBristol-Myers combo data could push shares above $70, says JPMorgan
JPMorgan analyst Chris Schott says the risk/reward for shares of Bristol-Myers Squibb looks "very attractive" ahead of the World Conference on Lung Cancer, which begins September 6. Data at the conference supportive of an Opdivo/Yervoy combo would represent a clear catalyst for the shares, Schott tells investors in a research note. Bristol is "already extremely well-positioned" in the advanced non-small cell lung cancer market, and data suggesting that the company has addressed toxicity concerns with the combo could push the stock above $70, Schott argues. Bristol closed yesterday up 39c to $63.47. The analyst sees limited downside to stock even with disappointing results at the World Conference on Lung Cancer. He reiterates an Overweight rating on Bristol with a $75 price target.
05:48 EDTURBNStocks with implied volatility movement; URBN RAD
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05:25 EDTLFLLATAM Airlines downgraded to In-Line from Outperform at Imperial Capital
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August 17, 2015
20:06 EDTURBNUrban Outfitters shares fall after reporting mixed Q2 results
After the close, Urban Outfitters (URBN) reported second quarter earnings. WHAT'S NEW: Urban Outfitters reported Q2 earnings per share of 52c, above consensus estimates of 49c, and Q2 revenue of $867.46M, below analyst expectations of $881.16M. Urban Outfitters reported comparable retail segment net sales up 4%. Broken down by segment, comparable retail sales at Anthropologie increased 2%, Urban Outfitters increased 4%, Free People increased 14%, and wholesale segment net sales increases 21%. WHAT'S NOTABLE: During the earning conference call, CFO Frank Conforti said that during the third quarter, the gross margin rate could increase, driven by improvements in the Urban Outfitters brand. Conforti also said that the opportunity exists to increase gross margins for the fiscal year, though the magnitude of the increase depends on Q3 and Q4. Conforti also reaffirmed the company's fiscal 2016 capital expenditures guidance of $140M-$150M. ANALYST REACTION: On August 17, Wolfe Research initiated coverage of the stock with a Peer Perform and set a price target of $34.00. The firm said it believes that Urban Outfitters could see improving SSS trends in the second half of fiscal 2015 and said that the Urban Outfitters brand has showed "considerable improvement" and the firm estimates that the brand's gross margins could be in the high 20% range. After Urban Outfitters earnings were released, Nomura released a note indicating that the magnitude of the gross margin decline was "not as bad as expected" with Urban's Q2 gross margin of 36.7% vs. Nomura's estimate of 36.2%, and that shares have been discounting an additional cut to annual gross margins. The firm has a Neutral rating on the stock and a price target of $35.00. PRICE ACTION: Shares of Urban Outfitters are lower by 2.26% to $31.50 in after-hours trading.
19:00 EDTURBNOn The Fly: After Hours Movers
UP AFTER EARNINGS: Fabrinet (FN), up 5.1%. ALSO HIGHER: Esperion Therapeutics (ESPR), up 10.6% after announcing that it is on track to initiate ETC-1002 Phase 3 program by the end of 2015... Seattle Genetics (SGEN), up 3.3% after announcing FDA approval of Adcetris for HL treatment. DOWN AFTER EARNINGS: MasTec (MTZ), down 7.4%... Urban Outfitters (URBN), down 2.3%. ALSO LOWER: Sunedison (SUNE), down 1% after announcing a $500M perpetual convertible preferred stock offering.
17:06 EDTURBNUrban Outfitters initiated with a Peer Perform at Wolfe Research
Target $34.
16:04 EDTURBNUrban Outfitters reports Q2 Anthropologie SSS up 2%
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16:02 EDTURBNUrban Outfitters reports Q2 EPS 52c, consensus 49c
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14:52 EDTURBNUrban Outfitters August 32 straddle priced for 9.8% movement into Q2
14:48 EDTURBNNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Agilent (A), consensus 41c... Urban Outfitters (URBN), consensus 49c... MasTec (MTZ), consensus 15c... Fabrinet (FN), consensus 39c.
14:13 EDTPHMDPhotoMedex says proposed settlements in two suits approved
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14:04 EDTURBNUrban Outfitters August volatility elevated into Q2 and outlook
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08:43 EDTBMYBristol-Myers sells Ixempra to R-PHARM, terms not disclosed
R-PHARM announces the acquisition of Ixempra from Bristol-Myers Squibb. Ixempra received marketing approval from the FDA in 2007 and in 18 other markets globally. Ixempra is indicated as monotherapy or in combination with capecitabine for the treatment of metastatic or locally advanced breast cancer in patients whose tumors are resistant or refractory to anthracyclines, taxanes, and capecitabine. With the acquisition, R-PHARM has launched its U.S. commercial operations, and it is now responsible for all activities surrounding Ixempra's manufacture, distribution, sales, and reimbursement. Financial terms were not disclosed.
08:02 EDTURBNUrban Outfitters multiple decline overdone, says Stifel
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07:39 EDTVODTMC to hold a conference
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