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July 23, 2014
UP AFTER EARNINGS: Intuitive Surgical (ISRG), up 12.8%... Biogen (BIIB), up 8%... Broadcom (BRCM), up 3.6%... PepsiCo (PEP), up 1.8%... Dow Chemical (DOW), up 1.5%. ALSO HIGHER: Puma Biotechnology (PBYI), up 275% after reporting positive top line results from Phase III PB272 trial, price target on stock raised to $325 from $125 at UBS, Citigroup says company a likely acquisition target after data... Talisman Energy (TLM), up 9.6% after Bloomberg reports Repsol (REPYY) may be looking to acquire. DOWN AFTER EARNINGS: Whirlpool (WHR), down 4.4%... Juniper Networks (JNPR), down 7.9%... GlaxoSmithKline (GSK), down 5.8%... Boeing (BA), down 0.8%. ALSO LOWER: Xilinx (XLNX), down 14.2% after results, downgrades at William Blair, BofA/Merrill and BMO Capital. Shares of peer Altera (ALTR) are also down 4.6%... King Digital (KING), down 2.7% after downgraded at BofA/Merrill... McDonald's (MCD), down 0.9% following downgrades at multiple firms after its earnings report yesterday.
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October 7, 2014
16:35 EDTALTRAltera initiated with a Market Perform at Northland
Target $35.
15:13 EDTBAEarnings Preview: Alcoa sees Q3 EPS to 'continue to build on strong Q2'
Alcoa (AA) is scheduled to report third quarter earnings after the close on Wednesday, October 8, with a conference call scheduled for 5:00 pm ET. Alcoa is a global manufacturer of aluminum products. EXPECTATIONS: Analysts are looking for earnings per share of 23c on revenue of $5.85B, according to First Call. The consensus range for EPS is 15c-28c on revenue of $5.62B-$6.07B. LAST QUARTER: Alcoa reported second quarter adjusted EPS of 18c against estimates for 12c on revenue of $5.8B against estimates for $5.66B. The company reiterated its 2014 global aluminum demand growth view of 7%, and backed its 2014 global aerospace growth outlook of 8%-9%. It raised its 2014 estimate for the North America commercial transportation market to 10%-14%, from a previous range of 5%-9%. The higher estimate was based in part on rising truck orders and backlogs. CEO Klaus Kleinfeld said the company's transformation was in "high gear." He noted that aerospace business is a tailwind due to strong demand for commercial aircraft, and said the company is well-positioned to capture upside from recent investments. On Alcoa's Q2 earnings conference call, management said during the quarter the company witnessed revenue growth across all major end markets and the businesses continued to deliver productivity gains. They expect Q3 earnings per share to "continue to build on the strong second quarter." ATOI is expected to grow by 5%-10% over last year's third quarter due to continued share gains, stronger market conditions and productivity. Productivity gains are expected to offset cost increases in Q3. For 2014, productivity is ahead of schedule with $556M of productivity gains achieved in first half 2014 against the annual target of $850M. On September 11, Alcoa signed a multi-year supply contract with Boeing (BA) valued at over $1B. STREET RESEARCH: Street research has been overwhelmingly positive in the weeks leading up to Alcoa's Q3 earnings report. On July 9, three firms, Stifel, JP Morgan, and Argus raised their respective price targets on Alcoa. On September 30, BofA/Merrill upgraded Alcoa to Buy from Neutral with a price target of $18. The firm was more positive on the outlook for aluminum and raised Alcoa's 2015 EPS estimate to $1.05 and EBITDA to $4.1B vs. consensus of 85c and $3.8B. BofA said plant closures, better demand, and falling pension costs were catalysts. PRICE ACTION: Alcoa shares have rallied approximately 8% over the past three months, touching a 52-week high of $17.36 in September. Over the past twelve months, the stock is up about 100%. In early afternoon trading ahead of tomorrow's Q3 report, Alcoa shares are down fractionally.
10:17 EDTBRCMSamsung outlook miss weighs on suppliers
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08:18 EDTJNPRJuniper execution could drive 40% upside, says Bernstein
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08:01 EDTBABoeing says cannot plan for 'armageddon' of Ex-Im bank closure, Bloomberg says
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07:24 EDTBIIBAlliance for Regenerative Medicine
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06:19 EDTMCDMcDonald's Japan now sees FY loss of Y17B
McDonald's Japan is forecasting a loss for the full year of Y17B vs. its previous guidance for a Y6B profit, the Financial Times reports. The company, which is 50% owned by McDonald's, sees food supplier problems impacting sales by Y45B.
05:29 EDTBABoeing forecasts world air cargo traffic to double in next 20 years
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October 6, 2014
13:25 EDTBABoeing to construct certain 777X parts at Missouri facility, Reuters says
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11:25 EDTISRGIntuitive Surgical volatility increases on rally after Goldman upgrades
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11:17 EDTISRGIntuitive Surgical climbs after Goldman ups to Buy
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10:41 EDTISRGIntuitive Surgical rises, levels to watch
At time of writing the shares were up over 3.9% to $493.83, well down from the session high at $505.74 which is resistance. At current price support is at the session low at $489.32, the opening price of the day. Goldman earlier upgraded the shares to a Buy, with a $584 price target.
10:04 EDTMCDOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded to Neutral from Overweight at Piper Jaffray... Air France-KLM (AFLYY) downgraded to Neutral from Buy at Citigroup... BAE Systems (BAESY) downgraded to Hold from Buy at Societe Generale... Buffalo Wild Wings (BWLD) downgraded to Neutral from Outperform at Wedbush... Church & Dwight (CHD) downgraded to Underweight from Equal Weight at Barclays... Colgate-Palmolive (CL) downgraded to Equal Weight from Overweight at Barclays... Deckers Outdoor (DECK) downgraded to Neutral from Overweight at Piper Jaffray... Delhaize (DEG) downgraded to Hold from Buy at Deutsche Bank... Fortinet (FTNT) downgraded to Equal Weight from Overweight at Morgan Stanley... McDonald's (MCD) downgraded to Equal Weight from Overweight at Morgan Stanley... Midcoast Energy (MEP) downgraded to Neutral from Buy at UBS... Mobileye (MBLY) downgraded to Market Perform from Outperform at Raymond James... Myers Industries (MYE) downgraded to Neutral from Buy at CL King... Nationstar (NSM) downgraded to Underperform from Market Perform at Keefe Bruyette... PTC Therapeutics (PTCT) downgraded to Market Perform at Cowen... PetSmart (PETM) downgraded to Equal Weight from Overweight at Barclays... Qlik Technologies (QLIK) downgraded to Equal Weight from Overweight at Morgan Stanley... Subsea 7 (SUBCY) downgraded to Neutral from Outperform at Exane BNP Paribas... Tekmira (TKMR) downgraded to Market Perform from Outperform at ... XL Group (XL) downgraded to Market Perform from Outperform at FBR Capital... Xoom (XOOM) downgraded to Underweight from Equal-Weight at Evercore.
10:04 EDTISRGOn The Fly: Analyst Upgrade Summary
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07:13 EDTBABoeing confirms Alaska Airlines odrer of 10 737-900ER airplanes
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07:09 EDTMCDMcDonald's downgraded to Equal Weight from Overweight at Morgan Stanley
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07:04 EDTBABE Aerospace names Lower CFO
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06:57 EDTBAData shows Airbus falling behind Boeing on jet sales, Reuters says
Company data from Airbus (EADSY) showed that the firm sold 76 planes last month, but ended the first nine months of 2014 behind Boeing (BA) regarding the amount of aircrafts delivered and sold, according to Reuters, citing the data. The French plane manufacturer has delivered 443 planes so far this year while Boeing has delivered 528. Reference Link
06:27 EDTBAAlaska Air purchases 10 additional Boeing 737-900ER aircraft
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05:22 EDTISRGIntuitive Surgical upgraded to Buy from Neutral at Goldman
Goldman Sachs upgraded Intuitive Surgical (ISRG) to Buy citing an improving hospital spending environment and long-term uptake of surgery procedures in the U.S. The firm raised its price target for shares to $584 from $466. Shares of the robotic surgery maker closed Friday at $475.21.
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