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Stock Market & Financial Investment News

News Breaks
June 25, 2014
08:21 EDTGE, PCP, RYCEY, HON, UTXBofA/Merrill aerospace analysts hold an analyst/industry conference call
U.S. Aerospace & Defense Analyst Epstein and U.S. Multi-Industrials Analyst Obin discuss the global commercial aerospace engine market, key issues and key stock picks in the U.S., Europe and Japan on an Analyst/Industry conference call to be held on June 25 at 9 am.
News For PCP;UTX;RYCEY;GE;HON From The Last 14 Days
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February 25, 2015
17:23 EDTUTXUnited Technologies awarded $407M government contract
United Technologies Corp., East Hartford, Connecticut, has been awarded a $407M indefinite-delivery/indefinite-quantity contract for engine component improvement program. Contractor will provide design improvement, life management/analysis, repair development and test of engines produced by Pratt & Whitney. Work will be performed at East Hartford, Connecticut, and is expected to be complete by Dec. 31, 2021. This contract involves foreign military sales. This award is the result of a sole-source acquisition. Fiscal year 2015 research, development, test and evaluation funds in the amount of $5M are being obligated at the time of award for task order 0001. Air Force Life Cycle Management Center, Wright-Patterson Air Force Base, Ohio, is the contracting activity.
07:09 EDTUTXUnited Technologies price target to $138 ahead of Analyst Day at Credit Suisse
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05:22 EDTGEGE Healthcare selected as strategic partner by Kenyan Ministry of Health
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February 24, 2015
18:02 EDTGEGeneral Electric director purchases $20M of company stock
According to regulatory filings, GE director William G. Beattie purchased 800,000 shares of GE for $20,096,000 on February 18 and 19.
February 23, 2015
12:07 EDTGEEU opens probe in GE's proposed acquisition of Alstom's energy business
The European Commission has opened an in-depth investigation to assess whether General Electric's (GE) proposed acquisition of the Thermal Power, Renewable Power & Grid businesses of Alstom (ALSMY) is in line with the EU Merger Regulation. The Commission’s preliminary investigation indicates potential competition concerns in the market for heavy-duty gas turbines which are mainly used in gas-fired power plants. The transaction would bring together the activities of GE, the world's largest manufacturer of heavy-duty gas turbines, with those of Alstom, eliminating one of the three main global competitors to GE in this market. The opening of an in-depth inquiry does not prejudge the final result of the investigation. The Commission now has 90 working days, until 8 July, to take a final decision. Reference Link
09:59 EDTPCPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Antofagasta (ANFGY) downgraded to Sell from Neutral at Goldman... Arch Coal (ACI) downgraded to Sell from Buy at Argus... BHP Billiton (BHP) downgraded to Equal Weight from Overweight at Morgan Stanley... Beazer Homes (BZH) downgraded to Neutral from Buy at Compass Point... Boeing (BA) downgraded to Sell from Neutral at Goldman... Century Communities (CCS) downgraded to Neutral from Overweight at JPMorgan... CyberArk (CYBR) downgraded to Underweight from Neutral at JPMorgan... DirecTV (DTV) downgraded to Hold from Buy at Brean Capital... Enerplus (ERF) downgraded to Hold from Buy at Desjardins... Fiserv (FISV) downgraded to Neutral from Buy at Monness Crespi... GP Strategies (GPX) downgraded to Neutral from Buy at B. Riley... Interactive Brokers (IBKR) downgraded to Market Perform at Keefe Bruyette... MRC Global (MRC) downgraded at BB&T... Precision Castparts (PCP) downgraded to Neutral from Buy at Goldman... Quest Diagnostics (DGX) downgraded at BofA/Merrill... Rio Tinto (RIO) downgraded to Equal Weight from Overweight at Morgan Stanley... Roth Capital downgraded Spectrum (SPPI) on court case loss... Royal Dutch Shell (RDS.A) downgraded to Sector Perform from Outperform at Howard Weil... Ryland Group (RYL) downgraded to Neutral from Buy at Compass Point... Salix (SLXP) downgraded to Market Perform from Outperform at Leerink... Standard Pacific (SPF) downgraded to Neutral from Buy at Compass Point... Superior Energy (SPN) downgraded to Neutral from Outperform at Credit Suisse... Transocean (RIG) downgraded to Negative from Neutral at Susquehanna... Vale (VALE) downgraded to Equal Weight from Overweight at Morgan Stanley.
06:51 EDTUTX, PCPAerospace 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.
06:21 EDTPCPPrecision Castparts downgraded to Neutral from Buy at Goldman
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February 20, 2015
08:26 EDTGEArc Logistics to acquire all membership interests Joliet Bulk for $216M
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06:27 EDTUTXUnited Tech's Sikorsky may look to make military helicopters in India, WSJ says
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February 19, 2015
08:30 EDTHONHoneywell repeats target for double digit earnings growth over 2013-2018 period
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08:28 EDTHONHoneywell CFO says would consider adding leverage for right M&A deal
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08:22 EDTHONHoneywell reaffirms FY15 sales, EPS forecast
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February 18, 2015
11:14 EDTGEGE, Alstom deal likely to face intense EU scrutiny, Reuters says
General Electric's (GE) deal for Alstom's (ALSMY) power equipment business is likely to face an intense EU antitrust investigation, says Reuters, citing people familiar with the matter. Reference Link
10:05 EDTRYCEYOn The Fly: Analyst Downgrade Summary
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07:07 EDTGEBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
06:23 EDTRYCEYRolls-Royce plan to build SUV vehicle, Financial Times reports
Rolls-Royce has confirmed the plans to launch a sport utility vehicle, reports the Financial Times. The carmaker said it was responding to a demand from customers to create an "all-new high-bodied" Rolls-Royce. Reference Link
05:27 EDTRYCEYRolls-Royce downgraded to Underweight from Neutral at JPMorgan
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February 17, 2015
17:29 EDTPCPBerkshire Hathaway gives quarterly update on stakes, exits Exxon Mobil
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06:20 EDTRYCEYRolls-Royce vows to cooperate with Petrobras investigation, Financial Times says
Rolls-Royce (RYCEY) said it will co-operate with Brazilian authorities investigating allegations that it paid bribes to win a contract from Petrobras (PBR), reports the Financial Times. The company said, “We will take all necessary action to ensure compliance, including co-operating with authorities in any country.” Rolls-Royce had been accused of paying bribes in exchange for a $100M contract to provide “modules of energy generation” for the oil company’s platforms. Reference Link
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