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Stock Market & Financial Investment News

News Breaks
June 27, 2014
12:56 EDTNKE, DD, FINL, MTW, DG, LITB, ROCKOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday with DuPont's (DD) slide weighing down the blue-chip Dow more than Nike's (NKE) advance is helping it. Stocks began the session in negative territory but soon turned mixed, where they have remained, with the Nasdaq the leader and the Dow the laggard. The averages have stalled, but they still remain on track to be positive for the month of June, though the month does not end until after Monday's session. ECONOMIC EVENTS: In the U.S., the final University of Michigan consumer sentiment index for June rose to 82.5, which beat the consensus expectation for a reading of 81.9. COMPANY NEWS: Shares of athletic apparel and footwear giant Nike and sports shoe retailer Finish Line (FINL) climbed after both companies reported better than expected quarterly sales and profits. Near midday, Dow member Nike rose 1.6%, while Finish Line advanced 1.4%... Another member of the Dow Jones Industrial Average, DuPont, moved in the opposite direction, falling over 4.5% after the chemical company cut its earnings outlook for its second quarter and its current fiscal year. MAJOR MOVERS: Among the notable gainers was LightInTheBox (LITB), which jumped 20% after the company raised its Q2 revenue outlook. Also higher was Manitowoc (MTW), which gained 9% and was upgraded to Hold at Jefferies after activist Relational Investors took an 8.5% stake in the company and urged for a spin-off of its food business. Among the noteworthy losers was Gibraltar Industries (ROCK), which dropped nearly 10% after cutting its Q2 outlook, stating that end market demand in the quarter did not rebound as expected. Also lower were shares of discount retailer Dollar General (DG), which fell over 7% after Chief Executive Officer Rick Dreiling announced plans to retire. INDEXES: Near midday, the Dow was down 36.58, or 0.22%, to 16,809.55, the Nasdaq was up 7.41, or 0.17%, to 4,386.45, and the S&P 500 was down 1.60, or 0.08%, to 1,955.62.
News For NKE;DD;FINL;MTW;DG;LITB;ROCK From The Last 14 Days
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October 15, 2014
10:02 EDTNKEOn The Fly: Analyst Upgrade Summary
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08:28 EDTNKENike upgraded to Conviction Buy from Buy at Goldman
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06:12 EDTNKENike's Converse sues rivals over 'copycat' design, NY Post reports
Converse, a unit of Nike (NKE), is suing rivals including Ralph Lauren (RL) and Tory Burch, alleging that shoemakers and retailers are copying its iconic design, the New York Post reports. Lawyers for Converse say "We welcome fair competition, but we do not believe companies have a right to copy the trademarked look." The lawsuit seeks unspecified damages and injunctions that would bar the production of the rival shoe models. Reference Link
October 13, 2014
07:50 EDTMTWManitowoc price target lowered to $27 from $33 at RBC Capital
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October 10, 2014
16:17 EDTDGDollar General receives second request from FTC
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13:08 EDTMTWOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and saw several swings throughout the morning. Near midday the averages were mixed, with the Dow a bit higher and the Nasdaq weighed down by weakness across the semiconductor sector. ECONOMIC EVENTS: In the U.S., the import price index fell 0.5% in September, versus expectations for a 0.7% decline. COMPANY NEWS: Shares of a number of semiconductor makers, including industry giant Intel (INTC), were sharply lower after one of the companies in the space, Microchip Technology (MCHP), warned that it believes the sector has entered a correction. Microchip President and CEO Steve Sanghi claimed his company often sees the turn of the semiconductor industry ahead of others, noting that it does business with over 80,000 customers and that it built a significant amount of inventory in the distribution channel in the September quarter. Sanghi stated, "We believe that another industry correction has begun and that this correction will be seen more broadly across the industry in the near future.” Near noon, Microchip dropped 11%, Intel fell almost 4%, Texas Instruments (TXN) slipped over 6%, Micron (MU) dropped 6% and Fairchild (FCS) declined 12%. MAJOR MOVERS: Among the notable gainers was Exact Sciences (EXAS), which rallied 35% after the company announced last night that the Centers for Medicare & Medicaid Services, or CMS, had agreed to cover the company's colorectal cancer and pre-cancer test through Medicare. Among the noteworthy losers were a number of companies that, similarly to Microchip, warned that their quarterly results will likely miss expectations, including Procera Networks (PKT), which plunged 34%, Manitowoc (MTW), which fell 9%, and Sizmek (SZMK), which dropped 21%. INDEXES: Near midday, the Dow was up 38.02, or 0.23%, to 16,697.27, the Nasdaq was down 35.89, or 0.82%, to 4,342.45, and the S&P 500 was up 0.42, or 0.02%, to 1,928.63.
12:05 EDTDDUSDA raises U.S. corn production estimate to 14.475B
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10:01 EDTMTWOn The Fly: Analyst Downgrade Summary
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10:01 EDTDDOn The Fly: Analyst Upgrade Summary
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09:00 EDTMTWOn The Fly: Pre-market Movers
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08:36 EDTMTWManitowoc downgraded at BMO Capital
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08:11 EDTDGFamily Dollar Q4 bad enough to justify merger, says FBR Capital
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06:29 EDTMTWManitowoc downgraded to Underperform from Market Perform at BMO Capital
05:43 EDTDDDuPont upgraded to Buy from Hold at Jefferies
Jefferies upgraded DuPont to Buy citing the pullback in shares and its belief the company's capital return program should sustain low-teens earnings growth. The firm raised its price target for shares to $84 from $72.
October 9, 2014
19:11 EDTMTWManitowoc sees FY14 Crane segment revenues declining
For FY14, Manitowoc now anticipates Crane segment revenues to decline by mid-to-high single-digit percentages compared to FY13 revenues, while it expects Crane operating margins for FY14 to be in the 7% range. In addition, Manitowoc now expects FY14 Foodservice segment revenues to be up by low-to-mid single-digit percentages as compared to revenues for the prior-year period. The company expects this segment’s operating margins for FY14 to be in the 15% range. In addition, the company is adjusting its guidance for end-of-year debt-to-EBITDA to approximately 3.5 times, versus below 3 times previously expected, and is reducing its interest expense guidance to a low-to-mid $90M range. The company is reaffirming the remainder of its full-year outlook: capital expenditures of approximately $90M, depreciation & amortization of approximately $120M, amortization of deferred financing fees of less than $5M, and effective tax rate in the mid-teens percentage range driven by expected Q3 discrete items.
19:06 EDTMTWManitowoc sees Q3 revenue 'just under' $1B, consensus $1.02B
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10:00 EDTDDOn The Fly: Analyst Initiation Summary
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09:41 EDTNKE, FINL, DGBofA/Merrill retail analysts hold an analyst/industry conference call
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07:20 EDTDDArchitectural Record to hold a conference
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06:10 EDTNKEStocks with implied volatility below IV index mean; NKE LULU
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