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Stock Market & Financial Investment News

News Breaks
March 10, 2014
10:13 EDTBTI, LO, ITYBY, RAIReynolds American advances after Citi says could be takeover target
Shares of cigarette maker Reynolds American (RAI) are climbing after Citigroup wrote that the company could be acquired by British American Tobacco (BTI). WHAT'S NEW: In a note to investors earlier today, Citigroup analyst Vivien Azer forecast that Reynolds American (RAI) is likely to either enter into a joint venture with British American Tobacco or be acquired by the British company. After meeting with Reynolds' CEO and Chief Scientific Office last week, Azer thinks that the fundamentals of Reynolds' business "reinforce its attractiveness" to British American, either as an acquisition target or joint venture partner, she wrote. WHAT'S NOTABLE: In a separate note to investors earlier today, Citigroup U.K.-based analyst Adam Spielman wrote that it would be logical for British American to acquire the 58% of Reynolds it doesn't already own, as the deal would be accretive to British American's EPS while enabling the British company to access Reynolds' intellectual property related to e-cigarettes. It is "quite possible" that British American will acquire Reynolds, but it is unlikely that Reynolds will buy another company in the sector, Lorillard (LO), according to Spielman. If British American decides to bid for Lorillard, it would look to acquire Reynolds first, added Spielman. Imperial Tobacco (ITYBY) is also not likely to bid for Lorillard, the analyst believes. Spielman kept a Buy rating on British American, while Azer maintained a Buy rating on Reynolds American. PRICE ACTION: In early trading, Reynolds American rose 1.2% to $54.17, while Lorillard fell 1% to $52.45. British American Tobacco shares trading in New York were little changed near $110.75.
News For RAI;BTI;LO;ITYBY From The Last 14 Days
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October 24, 2014
10:03 EDTLOOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Align Technology (ALGN) upgraded to Buy from Hold at Jefferies... Brandywine Realty (BDN) upgraded to Buy from Hold at Stifel... Buffalo Wild Wings (BWLD) upgraded to Buy from Hold at Feltl... Carpenter Technology (CRS) upgraded to Overweight from Neutral at JPMorgan... Check Point (CHKP) upgraded to Buy from Hold at Needham... Diamond Offshore (DO) upgraded at ISI Group... Digital Realty (DLR) upgraded to Market Perform from Underperform at Cowen... EQT Corporation (EQT) upgraded to Buy from Neutral at SunTrust... Education Realty (EDR) upgraded to Buy from Hold at MLV & Co.... Gigamon (GIMO) upgraded to Neutral from Underperform at BofA/Merrill... Halliburton (HAL) upgraded to Buy from Neutral at Citigroup... Invacare (IVC) upgraded at KeyBanc... Knight Transportation (KNX) upgraded to Neutral from Underperform at Credit Suisse... Logitech (LOGI) upgraded to Buy from Neutral at UBS... Lorillard (LO) upgraded to Market Perform from Underperform at Cowen... Maxim Integrated (MXIM) upgraded to Buy from Hold at Deutsche Bank... NCR Corp. (NCR) upgraded to Neutral from Sell at Goldman... Nabors Industries (NBR) upgraded to Buy from Hold at Argus... Nucor (NUE) upgraded to Outperform from Underperform at CLSA... Old National Bancorp (ONB) upgraded to Buy from Neutral at DA Davidson... Plexus (PLXS) upgraded to Outperform from Market Perform at Raymond James... Potash (POT) upgraded to Buy from Hold at TD Securities... Reliance Steel (RS) upgraded to Buy from Hold at Jefferies... ResMed (RMD) upgraded to Outperform from Market Perform at William Blair... Royal Dutch Shell (RDS.A) upgraded to Buy from Neutral at UBS... Swift Transport (SWFT) upgraded to Buy from Hold at Stifel... Vulcan Materials (VMC) upgraded to Overweight from Equal Weight at Stephens... Weatherford (WFT) upgraded to Buy from Neutral at Citigroup.
06:39 EDTLOLorillard upgraded to Market Perform from Underperform at Cowen
Price target is $62.
October 23, 2014
07:05 EDTRAI, LOLorillard says on track to close Reynolds American merger in 1H15
The company said, "We are very excited about completing the combination with Reynolds, which we expect to occur in the first half of 2015, as it delivers significant and immediate value to our shareholders, as well as a meaningful ownership stake in the combined company that will enjoy multiple flagship tobacco brands well-positioned for continued long-term success."
07:04 EDTLOLorillard reports Q3 adjusted EPS 90c, consensus 90c
Reports Q3 revenue $1.83B, consensus $1.33B. Lorillard retail market share of cigarettes for Q3 was 15.1%, increasing 0.3 share points compared to the corresponding period of 2013. Newport retail market share for Q3 was 12.8%, increasing 0.3 share points versus last year.
October 22, 2014
15:37 EDTLONotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 71c; Union Pacific (UNP), consensus $1.52; 3M (MMM), consensus $1.96; AbbVie (ABBV), consensus 77c; Celgene (CELG), consensus 95c; Eli Lilly (LLY), consensus 67c; Occidental Petroleum (OXY), consensus $1.57; Caterpillar (CAT), consensus $1.36; Alexion Pharmaceuticals (ALXN), consensus $1.16; Precision Castparts (PCP), consensus $3.32; Raytheon (RTN), consensus $1.60; American Electric Power (AEP), consensus $1.02; Southwest Airlines (LUV), consensus 53c; Lorillard (LO), consensus 90c; T. Rowe Price (TROW), consensus $1.15; Mead Johnson (MJN), consensus 91c; Zimmer Holdings (ZMH), consensus $1.30; Nucor (NUE), consensus 73c; Nielsen (NLSN), consensus 65c; Prologis (PLD), consensus 46c; Sigma-Aldrich (SIAL), consensus $1.06; Under Armour (UA), consensus 40c; EQT (EQT), consensus 56c; Dr Pepper Snapple (DPS), consensus 88c; Cameron International (CAM), consensus $1.10; Coca-Cola Enterprises (CCE), consensus 89c; Quest Diagnostics (DGX), consensus $1.08; CMS Energy (CMS), consensus 41c; Airgas (ARG), consensus $1.29; PulteGroup (PHM), consensus 36c; Diamond Offshore (DO), consensus 79c; Bemis (BMS), consensus 67c.
October 21, 2014
11:15 EDTRAIHigh option volume stocks
High option volume stocks: DBA TUP CRI FCG TWC PLL ACM XRS RAI AMTD
07:11 EDTRAI, ITYBY, LOReynolds American says responding to second request from FTC regarding Lorillard
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07:10 EDTRAIReynolds American still sees FY14 adjusted EPS $3.35-$3.45, consensus $3.38
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07:09 EDTRAIReynolds American reports Q3 adjusted EPS 95c, consensus 91c
Reports Q3 revenue $2.24B, consensus $2.19B.
07:09 EDTRAIReynolds American reaffirms FY guidance
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October 20, 2014
15:36 EDTRAINotable companies reporting before tomorrow's open
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