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Stock Market & Financial Investment News

News Breaks
May 15, 2014
10:01 EDTBEAV, WAC, URBN, SWN, LFL, CXP, AAUKY, VOD, TOT, O, ITC, BMY, MTGE, VOXX, STO, PHMD, HIIOn 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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February 25, 2015
07:25 EDTHIIJPMorgan to hold a conference
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06:45 EDTTOTSaudi minister says demand for oil rising, Reuters reports
The price for Brent oil was little changed around $59 per barrel early this morning after Saudi Arbaia's energy minister said that demand for petroleum was increasing, according to Reuters. The minister added that oil markets "are calm now, Reuters added. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
February 24, 2015
10:00 EDTVOD, HIIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AMC Networks (AMCX) downgraded to Neutral from Outperform at Macquarie... American Airlines (AAL) downgraded to Market Perform at Cowen... Armstrong World (AWI) downgraded to Hold from Buy at KeyBanc... Basic Energy (BAS) downgraded to Outperform from Strong Buy at Raymond James... CSC (CSC) downgraded at Stifel... Chevron (CVX) downgraded to Perform from Outperform at Oppenheimer... Choice Hotels (CHH) downgraded to Underweight from Equal Weight at Barclays... Eni SpA (E) downgraded to Underperform from Hold at Jefferies... Fifth Street Asset (FSAM) downgraded to Neutral from Outperform at Credit Suisse... HSBC (HSBC) downgraded to Neutral from Buy at UBS... Home Loan Servicing (HLSS) downgraded to Neutral from Overweight at Piper Jaffray... Huntington Ingalls (HII) downgraded to Underperform from Neutral at Credit Suisse... International Paper (IP) downgraded to Hold from Buy at Deutsche Bank... Kayne Anderson (KED) downgraded at Stifel... Landstar System (LSTR) downgraded to Hold from Buy at Deutsche Bank... Multi-Color (LABL) downgraded to Neutral from Long-Term Buy at Hilliard Lyons... Newmont Mining (NEM) downgraded to Neutral from Overweight at HSBC... ONEOK Partners (OKS) downgraded to Underweight from Neutral at JPMorgan... ONEOK (OKE) downgraded to Underweight from Neutral at JPMorgan... Olympic Steel (ZEUS) downgraded to Underperform from Neutral at Credit Suisse... Polypore (PPO) downgraded to Market Perform from Outperform at William Blair... Rosetta Resources (ROSE) downgraded to Equal Weight from Overweight at Stephens... Salix (SLXP) downgraded to Neutral from Buy at UBS... Sprint (S) downgraded to Sell from Neutral at BTIG... St. Jude Medical (STJ) downgraded to Underperform from Outperform at Credit Suisse... Timmins Gold (TGD) downgraded on lack of near-term production catalysts at RBC Capital... Transocean Partners (RIGP) downgraded to Underweight from Equal Weight at Barclays... Vodafone (VOD) downgraded to Underperform from Neutral at BofA/Merrill... Williams Partners (WPZ) downgraded to Neutral from Buy at Citigroup... Williams (WMB) downgraded to Neutral from Buy at Citigroup... Worthington (WOR) downgraded to Neutral from Outperform at Credit Suisse... Zillow Group (Z) downgraded at Macquarie.
07:46 EDTBMYJacobs Engineering awarded contract from Bristol-Myers
Jacobs Engineering Group (JEC) announced that it received a contract from Bristol-Myers Squibb Company (BMY) to provide architectural and engineering services for a new large-scale biologics manufacturing facility in Cruiserath, County Dublin, Ireland. The facility is being designed to produce multiple therapies for the company’s robust and growing portfolio of approved and investigational biologic medicines, and to increase Bristol-Myers Squibb’s biologics manufacturing capacity. The new facility is expected to include multiple large scale bioreactors, a purification area, as well as office and laboratory space. Bristol-Myers Squibb’s Board of Directors has approved initial funding that will support the first phase of the project, with the full cost of the facility expected to be finalized in the second half of 2015. The facility is estimated to be operational in 2019.
07:18 EDTHIIHuntington Ingalls downgraded to Underperform from Neutral at Credit Suisse
As previously reported, Credit Suisse downgraded Huntington Ingalls to Underperform from Neutral. The firm downgraded shares citing valuation, increased pricing pressure, and possible doubling in cap-ex. Price target raised to $127 from $106.
06:49 EDTVODVodafone downgraded to Underperform from Neutral at BofA/Merrill
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06:03 EDTHIIHuntington Ingalls downgraded to Underperform from Neutral at Credit Suisse
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February 23, 2015
13:45 EDTTOTOpec may call emergency meeting if crude continues slide, FT says
According to Diezani Alison-Madueke, Nigeria's oil minister, Opec members have discussed holding an emergency meeting if crude prices continue to tumble, says the Financial Times. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT).
12:21 EDTBMYOn The Fly: Midday Wrap
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09:59 EDTTOTOn The Fly: Analyst Upgrade Summary
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08:21 EDTHIIHuntington Ingalls price target raised to $158 from $133 at Bernstein
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08:15 EDTBMYRigel Pharmaceuticals and Bristol-Myers announces R&D collaboration agreement
Rigel Pharmaceuticals (RIGL) and Bristol-Myers (BMY) announced that they have entered into a collaboration agreement for the discovery, development and commercialization of cancer immunotherapies based on Rigel's extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and increase the ability of tumors to spread in the body. The collaboration will focus on developing a new class of therapeutics aimed at increasing the immune system's activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, including Bristol-Myers Squibb's Opdivo and Yervoy. Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel's TGF beta library, including, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30M upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309M for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration.
08:06 EDTBMYBristol-Myers, Rigel enter R&D agreement for TGF beta receptor kinase inhibitors
Rigel Pharmaceuticals (RIGL) and Bristol-Myers Squibb (BMY) announced that they have entered into a collaboration agreement for the discovery, development and commercialization of cancer immunotherapies based on Rigel’s extensive portfolio of small molecule TGF beta receptor kinase inhibitors. TGF beta can promote tumor growth, broadly suppress the immune system and increase the ability of tumors to spread in the body. The collaboration will focus on developing a new class of therapeutics aimed at increasing the immune system’s activity against various cancers either as monotherapy or in combination with immune checkpoint inhibitors, including Bristol-Myers Squibb’s Opdivo, or nivolumab, and Yervoy, or ipilimumab. Under the terms of the agreement, Bristol-Myers Squibb will obtain exclusive, worldwide rights to develop and commercialize small molecule therapeutics derived from Rigel’s TGF beta library, including, but not limited to, those approved to treat cancer. Bristol-Myers Squibb will pay $30M upfront and Rigel will be eligible to receive development and regulatory milestones that could total more than $309M for a successful compound approved in multiple indications. Rigel will also be eligible to receive tiered royalties on the net sales of any products from the collaboration.
08:01 EDTTOTTotal upgraded to Outperform from Sector Perform at Howard Weil
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08:01 EDTBMYBristol-Myers to acquire Flexus, potential total consideration may be $1.25B
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06:51 EDTBEAVAerospace sector downgraded to Neutral from Attractive at Goldman
Goldman downgraded the Aerospace sector to Neutral based on group outperformance and increased downside risks. The firm believes Boeing (BA) and Airbus are now oversupplying the market after a decade of undersupply and replacement demand required to sustain production may prove difficult to achieve. Goldman said accelerated new aircraft replacements was partially due to fuel economics and lower fuel prices and global growth volatility could substantially change Aerospace dynamics. As part of the sector view change, Goldman downgraded Boeing to Sell from Neutral and Precision Castparts (PCP) to Natural from Buy.
February 22, 2015
11:59 EDTTOTUSW to expand ULP oil strike
The United Steelworkers, USW, announced that it will expand its unfair labor practice strike, ULP, by launching a work stoppage tonight at midnight at the Motiva Enterprises refinery in Port Arthur, Texas. This refinery, a 50-50 joint venture between Shell Oil Company and Saudi Refining, produces more than 600,000 barrels per day. In addition, 24 hour strike notices were delivered at Motiva’s two Louisiana refineries in Convent and Norco as well as at the Shell Chemical plant in Norco. Capacity at these facilities is 235,000 and 238,000. These refineries are also jointly operated by Royal Dutch Shell and Saudi Refining, Inc. of Saudi Arabia. “The industry’s refusal to meaningfully address safety issues through good faith bargaining gave us no other option but to expand our work stoppage,” said USW International President Leo W. Gerard. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
February 20, 2015
07:23 EDTBMYAbbVie replaces Pfizer as top global pharma pick at Jefferies
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February 19, 2015
07:17 EDTHIIHuntington Ingalls reports Q4 adjusted EPS $2.19, consensus $1.98
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06:58 EDTTOTU.S. oil prices tumble after inventory data released, Reuters says
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