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Stock Market & Financial Investment News

News Breaks
May 16, 2014
09:14 EDTCHK, BRK.A, JWN, CLF, CSIQ, VZ, JCP, ADSK, AMAT, WWE, RAX, GMEOn The Fly: Pre-market Movers
HIGHER: Rackspace (RAX), up 24% after hiring Morgan Stanley after approach by "multiple parties"... Nordstrom (JWN), up 9% following quarterly results and announcing that it will seek a financial partner for its credit card receivables... J.C. Penney (JCP), up 18.5% after reporting better than expected first quarter revenue with same-store sales rising 6.2%... Verizon (VZ), up 1.5% after several noteworthy fund managers, including Warren Buffet's Berkshire Hathaway (BRK.A), disclosed stakes in the telecom company. UP AFTER EARNINGS: Applied Materials (AMAT), up 3.8%... Autodesk (ADSK), up 5%. LOWER: WWE (WWE), down 49% after announcing new television deal, providing guidance, shares being downgraded at Benchmark Co... Chesapeake (CHK), down 3% after announcing it will spin off its Oilfield Services business, lowering its FY14 production, operating cash flow, interest expense and dividend payments outlooks... Cliffs Natural (CLF), down 2.5% after downgraded at Macquarie following the company's reduction in FY14 iron ore price forecasts... Canadian Solar (CSIQ), down 10% after EPS misses forecast... GameStop (GME), down 1.3% after research firm NPD reported data on game and console sales in April.
News For A;AMAT;CSIQ;CHK;ADSK;CLF;GME From The Last 14 Days
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July 2, 2015
11:14 EDTCHKStocks with call strike movement; CHK PBR
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July 1, 2015
08:40 EDTAMATBofA/Merrill's Top 10 US Ideas for Q3
BofA/Merrill published its Top 10 U.S. Ideas Quarterly for Q3 that identifies companies it sees having significant catalysts in the next three months. The list includes eight Buys and two Underperforms. The Buys are Applied Materials (AMAT), Boise Cascade (BCC), Burlington Stores (BURL), Comcast (CMCSA), Comerica (CMA), Eli Lilly (LLY), Facebook (FB), and International Game (IGT). The Underperforms are BlackBerry (BBRY) and PBF Energy (PBF).
07:30 EDTCSIQDrop is Solar stocks a buying opportunity, says Deutsche Bank
Deutsche Bank analyst Vishal Shah attributes the recent weakness in the Solar space to investor concerns around increased interest rate and growth uncertainty, especially of YieldCos. Shah, however, views YieldCos as a significant growth catalyst for the solar and broader renewables sector. The analyst expects the current weakness to provide an attractive entry point for longer term investors. Publicly traded companies in the space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE).
June 30, 2015
14:34 EDTCLFIron ore producers slide after Australia cuts price target on the commodity
Shares of iron ore producers are falling after Reuters reported that Australia reduced its 2015 price forecast for iron ore to $54.40 a tonne from $60.40 a tonne. According to Reuters, Australia's current projection on iron ore prices is based on its view that China, the commodity's main market, will produce less steel in 2015 and 2016 as as the seaborne supply of iron ore increases. PRICE ACTION: Cliffs Natural Resources (CLF) is down over 10%, BHP Billiton (BHP) is lower by 2.3%, and Vale (VALE) is down 4% in afternoon trading. Steel stocks, including United States Steel (X), AK Steel Holding (AKS), and Nuco (NUE) are also sliding in afternoon trading.
07:11 EDTADSKAutodesk reseller checks weak, says Pacific Crest
Pacific Crest said Autodesk reseller checks are week with one month left in Q2, as most resellers are behind target. The firm said the results are not likely to surprise as expectations are low and remains a buyer long-term. Pacific Crest rates Autodesk an Overweight.
June 29, 2015
15:15 EDTADSKAutodesk management to meet with UBS
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10:09 EDTCHKOn The Fly: Analyst Upgrade Summary
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06:45 EDTCHKChesapeake upgraded to Buy from Underperform at Sterne Agee CRT
Sterne Agee CRT upgraded Chesapeake (CHK) two notches to Buy from Underperform and increased its price target to $13 from $9. The firm said shares are now oversold and the "short" call is now crowded. Sterne Agee CRT said management is working to mitigate the near-term liquidity drain and is aggressively pursuing alternatives to keep pipeline counter-party Williams Companies (WMB) whole on its contract, which could reset shares higher. The firm said the focus should be on Chesapeake's absolute liquidity and raised estimates to reflect slightly improved NGL fundamentals. Sterne Agee CRT recommends trading oriented accounts cover shorts and go long as any catalyst may drive a short squeeze rally in shares.
June 25, 2015
16:00 EDTCHKOptions Update; June 25, 2015
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15:48 EDTCHKChesapeake options active as share trend lower
Chesapeake July 11 and 12 puts are active on total put volume of 59K contracts (43K puts). July call option implied volatility is at 42, August is at 44; compared to its 52-week range of 23 to 68. Active put volume suggests traders taking positions for large price movement.
10:00 EDTCHKOn The Fly: Analyst Downgrade Summary
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05:56 EDTCHKChesapeake downgraded to Sell from Neutral at UBS
UBS analyst William Featherston downgraded Chesapeake Energy (CHK) to Sell after his firm cut its long-term normalized natural gas price forecast to $4.00 from $4.50. Featherston thinks Chesapeake carries "far too much financial leverage" and he views the shares as expensive relative to peers. The analyst cut his price target for the stock to $11 from $16. Shares of the natural gas producer closed yesterday down 22c to $11.56. Featherston coupled the downgrade with an upgrade of Marathon Oil (MRO) to Buy.
June 24, 2015
15:53 EDTGMESunTrust identifies the most likely M&A activity in specialty retail
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11:11 EDTGMEAnalyst says Best Buy shares poised to rise
Best Buy's (BBY) stock is poised to advance after the company reports its second quarter results, research firm B. Riley predicted. WHAT'S NEW: Best Buy's forecast for increased margins in the second half of the year, along with easing comparisons, should cause the stock to rise, predicted B. Riley in a note to investors earlier today. The shares will be particularly well-positioned to climb after the company updates its guidance following its Q2 results, the firm believes. Best Buy's initiatives should help increase its revenue and profits heading into fiscal 2017 and the retailer can continues to increase its market share at the expense of Sears (SHLD), RadioShack and others. Additionally, macro economic trends remain favorable for Best Buy and its key product categories continue to perform well, according to B. Riley. The firm, which is particularly confident about the company's ability to beat Q4 consensus estimates, keeps a $47 price target on the name and reiterates a Buy rating on the shares. WHAT'S NOTABLE: In their own note to investors this morning, SunTrust analysts David Magee and D. Mitch Van Zelfden speculated on potential M&A activity in the specialty retail space, noting that "Wall Streetís appetite for acquisitions has strengthened recently." In their opinion, Best Buy acquiring GameStop (GME) is among the "most compelling relationships" in the sector, the note explained. PRICE ACTION: In mid-morning trading, Best Buy slid 0.4% to $34.72, while GameStop rose 1.3% to $44.92.
10:36 EDTGMEElectronic Arts advances after analysts positive on E3 showing
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10:00 EDTAMATOn The Fly: Analyst Upgrade Summary
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07:12 EDTAMATApplied Materials upgraded to Conviction Buy from Buy at Goldman
Goldman added Applied Materials to the Conviction Buy List with a $24 price target due to the accelerating 3D NAND product cycle, increased focus on the core business, and capital allocation. The firm believes the July SEMICON meeting will be a catalysts for shares and provide constructive commentary on fundamentals.
June 23, 2015
17:20 EDTGMEGameStop backs FY15 EPS view $3.63-$3.83, consensus $3.87
Backs FY15 revenue growth view on negative 1% to 4%. Full year comparable store sales are still expected to range from +1.0% to +6.0%.
17:16 EDTGMEGameStop backs Q2 EPS view 21c-25c, consensus 24c
Backs Q2 revenue growth view of negative 3% to flat; Backs Q2 SSS view of range from flat to +3.0%. Guidance from company slides presentation.
07:07 EDTCSIQCanadian Solar subsidiary completes sale of LunarLight to Blue Earth
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