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Stock Market & Financial Investment News

News Breaks
August 1, 2014
16:24 EDTPG, VCRA, BYI, SGMS, CVX, WWWW, MGAMOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory and remained there for most of the session, capping a down week with a down day. The averages made it into positive territory for a short time during the morning hours but were never able to build any momentum. Investors were hit with a heavy dose of information, including more corporate earnings, the monthly U.S. jobs report, data on personal income and spending, construction spending and domestic manufacturing, along with manufacturing PMI readings from China. ECONOMIC EVENTS: In the U.S., non-farm payrolls rose 209K in July, missing the 230K forecast. The unemployment rate rose to 6.2% from 6.1% previously. Personal income rose 0.4% in June, with spending up 04% as well, and both of those matched expectations. The final reading of the University of Michigan consumer sentiment index for July came in at 81.8, which was in-line with expectations. seen 81.9; previously 81.3. ISM's manufacturing PMI for July rose to 57.1, beating expectations for a more modest rise to 56.0. Construction spending dropped 1.8% in June, versus expectations for it to have risen 0.4%. In China, the government's official manufacturing PMI for July came in above expectations at 51.7, though the HSBC-Markit PMI came in at 51.7, missing the median forecast of 52.0. COMPANY NEWS: Shares of Procter & Gamble (PG) advanced $2.33, or 3.01%, to $79.65 to lead the Dow Jones Industrial Average after the company's core earnings per share beat expectations and it said it intends to pare back its portfolio to focus on the 70 to 80 "core" brands that make up about 90% of its revenue... Another member of the Dow, Chevron (CVX), moved in the opposite direction, falling $1.34, or 1.04%, to $127.90 after its own earnings report. The oil major also lowered its FY14 production view by 1%-2%, citing weather, asset sales and a shutdown at its Angola LNG site as negative production drivers. MAJOR MOVERS: Among the notable gainers was Bally Technologies (BYI), which surged $17.53, or 29.13%, to $77.70 after the company agreed to be acquired by Scientific Games (SGMS) for $5.1B, or $83.30 per share. Another company in the same sector, Multimedia Games (MGAM), rose $2.21, or 9.16%, to $26.33, while Scientific Games gained 24c, or 2.81%, to $8.78 following the announcement of the deal. Among the noteworthy losers was Vocera (VCRA), which fell $3.42, or 27.21%, to $9.15 and was downgraded to Hold from Buy at Craig-Hallum and cut to Equal Weight from Overweight at Stephens following the company's Q2 report and lowered FY14 guidance. Also lower were shares of Web.com (WWWW), which dropped $6.43, or 24.22%, to $20.12 and was downgraded at SunTrust and BWS Financial after its own quarterly report. INDEXES: The Dow dropped 69.93, or 0.42%, to 16,493.37, the Nasdaq fell 17.13, or 0.39%, to 4,352.64, and the S&P 500 declined 5.52, or 0.29%, to 1,925.15.
News For PG;CVX;BYI;MGAM;SGMS;VCRA;WWWW From The Last 14 Days
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August 25, 2015
08:47 EDTPGKellogg names Carolyn Tastad to board of directors
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August 24, 2015
09:45 EDTCVXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
07:07 EDTCVXChevron upgraded to Neutral from Underperform at BofA/Merrill
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August 23, 2015
17:49 EDTCVXIran to increase oil production as BP, Shell express interest, Bloomberg says
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August 21, 2015
12:23 EDTCVXJim Chaos says he doesn't like Chevron, Royal Dutch Shell
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05:13 EDTSGMSScientific Games wins five-year instant games contract with Montana Lottery
Scientific Games announced that the company has signed a new contract to provide instant games and related services to the Montana Lottery. Awarded through a competitive procurement process, the five-year contract began August 8 and may be extended by the Lottery for an additional two years.
August 20, 2015
06:10 EDTCVXAuction for drilling leases attracts little interest, NY Times reports
A federal auction for drilling leases in the Gulf of Mexico Wednesday attracted only $22.7M in sales from five companies, the lowest since 1986, reports the New York Times. Most companies have insisted they would not sacrifice production in future years, but executives have recently expressed concern that the oil price collapse could last through 2016 and possibly even 2017. 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
August 19, 2015
10:00 EDTSGMSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
06:22 EDTSGMSScientific Games initiated with a Sell at Goldman
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05:44 EDTWWWWWeb.com cyber breach appears limited, says JPMorgan
JPMorgan analyst Sterling Auty says Web.com's cyber security breach appears limited since only 3% of the customer base is impacted. Auty added to his model $200,000 of expenses to Web.com's September quarter and $100,000 to the December quarter. He keeps a Neutral rating on the name with a $25 price target.
05:40 EDTWWWWWeb.com breach to impact earnings by about 1%, says Piper Jaffray
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August 18, 2015
16:50 EDTWWWWWeb.com discovered unauthorized breach on one of its systems
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10:00 EDTSGMSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abercrombie & Fitch (ANF) initiated with an Underperform at Wolfe Research... Abiomed (ABMD) initiated with a Buy at CRT Capital... Aeropostale (ARO) initiated with a Peer Perform at Wolfe Research... American Eagle (AEO) initiated with an Outperform, Top Pick at Wolfe Research... American Electric (AEP) initiated with a Buy at Mizuho... Benefitfocus (BNFT) initiated with an Overweight at First Analysis... Blue Buffalo Pet Products (BUFF) initiated with an Equal Weight at Morgan Stanley... Capitala Finance (CPTA) initiated with an Equal Weight at Stephens... Chico's (CHS) initiated with a Peer Perform at Wolfe Research... Children's Place (PLCE) initiated with an Outperform at Wolfe Research... Chimerix (CMRX) initiated with an Outperform at FBR Capital... Ciena (CIEN) initiated with a Market Perform at Northland... Crane (CR) initiated with an Outperform at William Blair... Entergy (ETR) initiated with a Neutral at Mizuho... Express (EXPR) initiated with an Outperform, Top Pick at Wolfe Research... Finisar (FNSR) initiated with a Market Perform at Northland... Francesca's (FRAN) initiated with a Peer Perform at Wolfe Research... Gap (GPS) initiated with an Underperform at Wolfe Research... Infinera (INFN) initiated with an Outperform at Northland... International Game (IGT) initiated with a Buy at Union Gaming... Juno Therapeutics (JUNO) initiated with an Outperform at FBR Capital... L Brands (LB) initiated with a Peer Perform at Wolfe Research... Luca Technologies (LUCA) initiated with an Outperform at Northland... Lumentum (LITE) initiated with an Outperform at Northland... M/A-COM (MTSI) reinstated with a Buy at Jefferies... MRV Communications (MRVC) initiated with an Outperform at Northland... Michael Kors (KORS) initiated with a Peer Perform at Wolfe Research... NN, Inc. (NNBR) initiated with a Buy at Stifel... NeoPhotonics (NPTN) initiated with an Outperform at Northland... Oclaro (OCLR) initiated with an Outperform at Northland... Scientific Games (SGMS) initiated with a Buy at Sterne Agee CRT... SolarCity (SCTY) initiated with a Neutral at UBS... Summit Materials (SUM) initiated with a Neutral at Citi... Tech Data (TECD) initiated with an Underperform at BofA/Merrill... Urban Outfitters (URBN) initiated with a Peer Perform at Wolfe Research... Zumiez (ZUMZ) initiated with an Underperform at Wolfe Research... lululemon (LULU) initiated with a Peer Perform at Wolfe Research.
09:13 EDTSGMSScientific Games initiated with a Hold at Union Gaming
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05:52 EDTCVXStocks with implied volatility movement; CVX WY
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August 17, 2015
16:24 EDTSGMSScientific Games initiated with a Buy at Sterne Agee CRT
Target $18.
07:34 EDTVCRALeerink to hold a bus tour
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August 16, 2015
12:23 EDTPGTrouble ahead for Procter & Gamble, others as Chinese yuan falls, Barron's says
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