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Stock Market & Financial Investment News

News Breaks
April 4, 2014
12:27 EDTNDLS, PBPBPotbelly rises after analyst ups rating to Outperform
Shares of casual dining company Potbelly (PBPB) are climbing after research firm William Blair upgraded the stock to Outperform from Market Perform in a note to investors earlier today. WHAT'S NEW: After falling nearly 30% so far this year before the open of trading today, Potbelly is unlikely to drop a great deal further, William Blair analyst Sharon Zackfia wrote. Following the decline in the stock, Potbelly now trades at a multiple that's 30% lower than that of its peer Noodles & Company (NDLS), the analyst stated. Meanwhile, the number of Potbelly's shares that are sold short had "skyrocketed" to 4.8M as of mid-March, with share sold short now representing 15% of the total shares outstanding, she added. Although the analyst expects Potbelly to report slightly lower than expected first quarter revenue, partly due to poor weather, she thinks the Street is well aware of the weather issues. Additionally, the tough weather is unlikely to put much of a dent in the company's profit, she believes. Improving same-store sales trends could make investors more upbeat about the stock, while over the long-term Potbelly can more than triple its restaurant base, added Zackfia. WHAT'S NOTABLE: Potbelly made its debut as a publicly traded company on October 4 of last year. The sandwich shop operator's stock opened for trade at $28.66, after having priced the 7.5M share offering at $14.00. PRICE ACTION: In early afternoon trading, Potbelly rallied 88c, or 5.14%, to $18.00. Accounting for today's advance, Potbelly shares have fallen about 37% from their opening price.
News For PBPB;NDLS From The Last 14 Days
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February 27, 2015
11:07 EDTPBPBPotbelly tumbles after CFO resigns
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09:58 EDTPBPBOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: 500.com (WBAI) downgraded to Hold from Buy at Deutsche Bank... Akorn (AKRX) downgraded to Hold after share rally at Needham... Allscripts (MDRX) downgraded to Market Perform from Outperform at Leerink... Bank of America (BAC) downgraded to Neutral from Buy at UBS... Bill Barrett (BBG) downgraded to Hold from Buy at KLR Group... CA Technologies (CA) downgraded to Underperform from Neutral at Credit Suisse... CBOE Holdings (CBOE) downgraded at BofA/Merrill... CONE Midstream (CNNX) downgraded to Sector Perform from Outperform at RBC Capital... Calamos (CLMS) downgraded to Underperform from Neutral at Credit Suisse... Crane (CR) downgraded to Market Perform from Outperform at FBR Capital... Dick's Sporting (DKS) downgraded to Equal Weight from Overweight at Barclays... EnerNOC (ENOC) downgraded to Buy from Strong Buy at Needham... Hercules Offshore (HERO) downgraded to Sell from Buy at Deutsche Bank... Insulet (PODD) downgraded at Oppenheimer... Intelsat (I) downgraded to Underperform from Neutral at Credit Suisse... Laredo Petroleum (LPI) downgraded to Market Perform from Outperform at Northland... Mavenir Systems (MVNR) downgraded to Equal Weight from Overweight at Morgan Stanley... Memorial Production (MEMP) downgraded to Underperform from Perform at Oppenheimer... Mobileye (MBLY) downgraded to Neutral from Buy at Dougherty... NTELOS (NTLS) downgraded to Market Perform from Outperform at Wells Fargo... Ocwen (OCN) downgraded to Sell from Neutral at Compass Point... Pegasystems (PEGA) downgraded to Neutral from Buy at Merriman... Performant Financial (PFMT) downgraded to Neutral from Buy at Compass Point... Pharmacyclics (PCYC) downgraded to Neutral from Buy at Goldman... Potbelly (PBPB) downgraded to Underweight from Overweight at Piper Jaffray... SYNNEX (SNX) downgraded to Hold from Buy at Stifel... Safe Bulkers (SB) downgraded at Credit Suisse... Sarepta (SRPT) downgraded to Market Perform from Outperform at Cowen... Seadrill Partners (SDLP) downgraded to Sector Perform from Outperform at RBC Capital... Spirit Realty (SRC) downgraded at RBC Capital... Transocean (RIG) downgraded to Sector Perform from Outperform at Iberia... UIL Holdings (UIL) downgraded to Neutral from Outperform at RW Baird... WCI Communities (WCIC) downgraded to Neutral from Buy at Citigroup... Walter Investment (WAC) downgraded to Neutral from Outperform at Credit Suisse.
09:24 EDTPBPBOn The Fly: Pre-market Movers
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06:38 EDTPBPBPotbelly downgraded to Underweight from Overweight at Piper Jaffray
Piper Jaffray downgraded Potbelly two notches to Underweight from Overweight after the company announced the resignation of its CFO. Piper lowered its price target for shares to $12 from $16 and says the resignation lessens the company's credibility with investors.
February 26, 2015
17:07 EDTPBPBPotbelly CFO Charles Talbot resigning
Potbelly CFO Charles Talbot will be leaving the company to accept a senior leadership position with another company outside of the restaurant industry. Talbot will continue to serve as Potbelly's CFO, while an external search is underway, until his departure on March 27.
February 20, 2015
16:20 EDTNDLSOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory with time running out for Greece to reach an extension of its bailout agreement. The morning was filled with headlines from both Greek and eurozone finance leaders, many of which indicated that prospects for a deal looked grim. When reports surfaced that an agreement on an extension had been reached the Dow took off and hit its first new high of 2015. The S&P 500 followed to its own new high and the Nasdaq continued to close in on the 5,000 level. ECONOMIC EVENTS: In the U.S., Markit's flash PMI rose to 54.3 in February, versus the consensus forecast for a preliminary reading of 53.6 for the month. In Europe, the Eurogroup and Greece reached a tentative deal for an extension of the current EFSF Master Financial Assistance Facility Agreement for up to four months. The deal is predicated on Greek authorities presenting a first list of reform measures, based on the current arrangement, by the end of Monday. Also, the Eurozone flash composite PMI came in at 53.5, versus expectations for a reading of 53. The services PMI was better than expected, while the manufacturing PMI was lower than expected. COMPANY NEWS: Deere reported Q1 earnings per share of $1.12 and revenue of $6.38B, which beat consensus forecasts of 84c and $5.59B, respectively. However, Deere said company equipment sales are projected to decrease about 17% for fiscal 2015 and now sees net income to be about $1.8B, which is down from the company's prior net income outlook of $1.9B. Analysts at Wells Fargo calculate that the implied EPS guidance from Deere dropped to $5.25 from $5.50. Consensus for FY15 EPS prior to Deere's report was $5.51. Shares of the farm, construction and forestry equipment maker rose 72c, or 0.79%, to $92.43 following this morning's report. MAJOR MOVERS: Among the notable gainers was National Bank of Greece (NBG), whose shares trading in New York jumped 35c, or 21.74%, to $1.96 after the Greek aid extension deal was negotiated. Also higher was Springleaf (LEAF), which gained $4.40, or 12.88%, to $38.57 after Reuters reported that the company has beaten out rival bidders and is in advanced talks to buy consumer finance unit OneMain Financial from Citigroup (C) for more than $4B. Two stock that dropped after their earnings reports prompted multiple analyst downgrades were Noodles & Company (NDLS), which plunged $8.84, or 31.87%, to $18.90, and Rocket Fuel (FUEL), which fell $3.95, or 26.74%, to $10.82. INDEXES: The Dow rose 154.67, or 0.86%, to 18,140.44, the Nasdaq gained 31.27, or 0.63%, to 4,955.97, and the S&P 500 advanced 12.85, or 0.61%, to 2,110.30.
12:49 EDTNDLSOn The Fly: Midday Wrap
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10:20 EDTNDLSHigh option volume stocks
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10:03 EDTNDLSNoodles & Company tumbles after earnings, downgrades, levels to watch
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10:01 EDTNDLSOn The Fly: Analyst Downgrade Summary
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07:28 EDTNDLSNoodles & Company pullback a buying opportunity, says Jefferies
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06:21 EDTNDLSNoodles & Company downgraded to Neutral from Buy at Janney Capital
Janney Capital downgraded Noodles & Company to Neutral following the disappointing Q4 reprot and outlook. Note that Baird also downgraded shares this morning.
06:02 EDTNDLSNoodles & Company downgraded to Neutral from Outperform at RW Baird
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February 19, 2015
18:19 EDTNDLSOn The Fly: After Hours Movers
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16:05 EDTNDLSNoodles & Company sees 2015 adjusted EPS growth 20%
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16:04 EDTNDLSNoodles & Company reports Q4 adjusted EPS 13c, consensus 14c
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09:59 EDTPBPBOn The Fly: Analyst Downgrade Summary
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07:35 EDTPBPBPotbelly downgraded at BofA/Merrill
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06:33 EDTPBPBPotbelly downgraded to Underperform from Neutral at BofA/Merrill
06:18 EDTNDLSNoodles & Company February volatility elevated into Q4 and outlook
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