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Stock Market & Financial Investment News

News Breaks
December 21, 2012
12:21 EDTRHT, MU, HLF, PNK, NKE, NOK, ASCA, RIMMOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday after Republicans failed to back Speaker Boehner's "Plan B" fiscal cliff bill, meaning lawmakers will go home for the Christmas holiday with the cliff still looming. Today's volume is heavy, as is typical for options expiration day, but investors seem to care less about the latest economic reports and remain focused on the impact the fiscal cliff may have on the economy next year... ECONOMIC EVENTS: Reports showed U.S. personal income rose 0.6% in November, versus the expected increase of 0.3%. Consumer spending climbed 0.4% in the month, which matched expectations. Durable goods orders rose 0.7% in November, versus the expected increase of 0.3%. Excluding transportation items, orders jumped 1.6%, versus the expected decline of 0.2%. The final University of Michigan Consumer Confidence reading for December was revised down to 72.9 from a prior 74.5 reading. Analysts called for it to rise slightly to 75.0... COMPANY NEWS: Research in Motion (RIMM) jumped higher in after-market trading immediately after its report that Q3 revenue beat consensus estimates and its quarterly losses were not as steep as feared. However, shares reversed and the weakness extended into today's trading session after the company said on its conference call that it plans to introduce a lower enterprise service tier, which multiple Wall Street analysts said may cut into one of its highest margin revenue streams. The company also agreed to a patent deal with Nokia (NOK), under which it will make a one-off payment and pay ongoing fees to it smartphone rival. Shares of Research in Motion plunged over 18% in afternoon trade, while Nokia slid nearly 5%... MAJOR MOVERS: Among the notable gainers were Pinnacle Entertainment (PNK) and Ameristar Casinos (ASCA), which both rose after Pinnacle agreed to purchase its fellow casino operator for $26.50 per share, or $2.8B. Shares of the buyer rose over 18%, while Ameristar jumped nearly 20%. Also higher were shares of Nike (NKE), which rose almost 5%, and Red Hat (RHT), up nearly 4%, after their earnings reports. Among the noteworthy losers were Herbalife (HLF), down more than 14% as the company's public fight with Bill Ackman intensifies, and Micron (MU), down 8% following its worse than expected quarterly results... INDICES: Near noon, the Dow was down 175.99, or 1.32%, to 13,135.73; the Nasdaq was down 45.81, or 1.50%, to 3,004.58; and the S&P 500 was down 19.77, or 1.37%, to 1,423.92.
News For RIMM;NOK;PNK;ASCA;NKE;RHT;HLF;MU From The Last 14 Days
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February 1, 2016
10:02 EDTNOKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded at BMO Capital... ARMOUR Residential (ARR) downgraded to Underweight from Equal Weight at Barclays... Abraxas Petroleum (AXAS) downgraded to Neutral from Buy at SunTrust... Anchor BanCorp Wisconsin (ABCW) downgraded to Equal Weight from Overweight at Stephens... Ashford Hospitality Prime (AHP) downgraded to Hold from Buy at Canaccord... Ashford Hospitality (AHT) downgraded to Hold from Buy at Canaccord... Axiall (AXLL) downgraded to Neutral from Buy at Citi... Boston Private Financial (BPFH) downgraded to Neutral from Buy at SunTrust... Colliers International (CIGI) downgraded to Sector Perform from Outperform at RBC Capital... Companhia Brasileira de Distribuicao (CBD) downgraded to Neutral at Credit Suisse... Connecticut Water (CTWS) downgraded to Market Perform from Outperform at Wells Fargo... Duke Realty (DRE) downgraded on valuation, growth outlook at BMO Capital... EP Energy (EPE) downgraded to Neutral from Buy at SunTrust... Eastman Chemical (EMN) downgraded at SunTrust... Equity Residential (EQR) downgraded to Neutral from Buy at Mizuho... Genuine Parts (GPC) downgraded to Neutral from Overweight at JPMorgan... Hersha Hospitality (HT) downgraded to Hold from Buy at Canaccord... Jones Energy (JONE) downgraded to Neutral from Buy at SunTrust... Mondelez (MDLZ) downgraded to Neutral from Positive at Susquehanna... Nokia (NOK) downgraded to Hold from Buy at Canaccord... Ollie's Bargain Outlet (OLLI) downgraded to Neutral from Outperform at Credit Suisse... Oshkosh (OSK) downgraded to Hold from Buy at Drexel Hamilton... Outerwall (OUTR) downgraded on Redbox weakness at Roth Capital... PACCAR (PCAR) downgraded to Underperform from Peer Perform at Wolfe Research... Restoration Hardware (RH) downgraded to Market Perform from Outperform at Cowen... Rex Energy (REXX) downgraded to Neutral from Buy at SunTrust... Sanchez Energy (SN) downgraded to Neutral from Buy at SunTrust... SandRidge Energy (SD) downgraded to Neutral from Buy at SunTrust... Santander Consumer (SC) downgraded to Underperform from Neutral at BofA/Merrill... Tiffany (TIF) downgraded to Market Perform from Outperform at Cowen... Trex Company (TREX) downgraded to Hold from Buy at BB&T... U.S. Steel (X) downgraded to Neutral from Outperform at Macquarie... United Community Financial (UCFC) downgraded to Neutral from Outperform at Boenning & Scattergood... Xerox (XRX) downgraded to Equal Weight from Overweight at Morgan Stanley.
10:00 EDTMUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
09:27 EDTHLFOn The Fly: Pre-market Movers
HIGHER: Alere (ALR), up 45.4% after announcing that Abbott (ABT) will acquire the company for $56 per share... Questar (STR), up 20.2% after announcing that Dominion (D) will acquire the company for $25 per share and assumed debt... Mast Therapeutics (MSTX), up 12.2% after the Phase 2a study of AIR001 met its primary endpoint... Twitter (TWTR), up 5.7% after The Information reported that Marc Andreessen and Silver Lake have considered a deal for Twitter... Herbalife (HLF), up 2.2% after the Wall Street Journal reported that probes into Bill Ackman's "pyramid scheme" accusations against Herbalife, as well as Herbalife's own accusations that Ackman sought to manipulate the company's stock, have both failed to uncover enough evidence to support criminal charges. LOWER: Dominion Resources, down 1.7% after reporting quarterly results and that it will acquire Questar... Abbott, down 4.1% after announcing that it will acquire Alere... GoPro (GPRO), down 4.4% after Piper Jaffray cut its price target to $7.50.
09:08 EDTNOKNokia downgraded to Hold from Buy at Canaccord
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09:04 EDTHLFHerbalife moves higher in pre-market
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08:57 EDTNOKNokia drops sharply in pre-market trading
The stock is down over 11.9% to $6.34 at time of writing on heavy volume. At that price next support is at $6.06. Resistance is at $6.51. Investors are expressing disappointment with the terms of the patent license arbitration settlement with Samsung (SSNLF). BofA/Merrill downgraded the stock to Neutral.
08:50 EDTRHTRed Hat management to meet with JPMorgan
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06:27 EDTNOKNokia downgraded to Neutral from Buy at BofA/Merrill
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05:54 EDTMUMicron upgraded to Neutral from Sell at Goldman
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05:15 EDTNOKNokia receives decision in patent license arbitration with Samsung
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January 31, 2016
20:43 EDTHLFOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
19:24 EDTHLFHerbalife, Ackman probes fail to find criminal evidence, WSJ says
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January 28, 2016
16:00 EDTMUOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures down 84c to 25.21 Option volume leaders: FB AAPL MSFT AMZN NFLX BAC BABA QCOM AAL MU C RIG
05:20 EDTHLFStocks with implied volatility above IV index mean; HLF ODP
Stocks with implied volatility above IV index mean; Herbalife (HLF) 63, Office Depot (ODP) 94 according to iVolatility.
January 27, 2016
10:23 EDTMUOptions with decreasing implied volatility
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05:27 EDTHLFStocks with implied volatility movement; HLF HLT
Stocks with implied volatility movement; Herbalife (HLF) 61, Hilton (HLT) 51 according to iVolatility.
January 26, 2016
17:09 EDTHLFIndus Capital Partners reports 7.9% passive stake in Herbalife
10:34 EDTRHTBattleground: BofA says sell NetSuite, DA Davidson still bullish
Over the last two days, analysts have issued mixed views on NetSuite (N), with Bank of America Merrill Lynch and Stephens downgrading the shares, while research firm DA Davidson argued in its own note to investors that the company should report better than expected fourth quarter results on January 28. NetSuite develops cloud based financial and enterprise resource planning, or ERP, tools for businesses. BEARISH TAKE: Bank of America Merrill Lynch analyst Kash Rangan downgraded NetSuite to Underperform, the firm's equivalent of a sell rating, from Neutral today. The company has increased its sales force by about 40%, but its billings are accelerating by only about 30%, the analyst stated. Moreover, NetSuite's operating margins are expected to come in at only about 4% in 2016, making it difficult for investors to value the stock on a price to earnings or enterprise value to free cash flow basis, Rangan believes. The stock may face obstacles if its billings growth doesn't accelerate significantly or if its operating margin doesn't increase to 10%-12%, Rangan wrote. Meanwhile, the company is facing tough competition from Microsoft (MSFT) in the mid-market and from other players at the lower end, according to the analyst, who cut his price target on the name to $80 from $95. Also writing that NetSuite is facing increased competition, Stephens analyst Alex Zukin yesterday downgraded the stock to Equal Weigh from Overweight. These competitive pressures along with changes to the company's organizational structure, the loss of a number of its "marquee" customers, and its premium valuation, led to the downgrade, Zukin stated. He slashed his price target on the stock to $75 from $100. BULLISH TAKE: NetSuite's Q4 results should beat expectations, with revenue coming in at $207.6M, above the company's guidance range of $202M-$205M and the consensus outlook of $204.4M, predicted DA Davidson analyst Jack Andrews. The company will report EPS of 5c, versus the consensus outlook of 4c, estimated Andrews. NetSuite can continue to increase its market share at the expense of mid-tier ERP vendors, believes the analyst, who reiterated a $130 price target and Buy rating on the shares. WHAT'S NOTABLE: In the same note to investors this morning, Merrill Lynch's Rangan also downgraded Paylocity (PCTY) and Marketo (MKTO) to Underperform from Neutral and it cut his rating on Red Hat (RHT) to Neutral from Buy. Paylocity provides payroll and human capital management software to medium businesses, while Marketo provides cloud-based marketing tools and Red Hat provides open source software solutions. PRICE ACTION: In early trading, NetSuite fell 3.6% to $65.45.
07:11 EDTRHTRed Hat downgraded to Neutral from Buy at BofA/Merrill
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05:12 EDTNOKStocks with implied volatility above IV index mean; LNKD NOK
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