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Stock Market & Financial Investment News

News Breaks
December 21, 2012
16:34 EDTHLF, ASCA, RIMM, SPW, NKE, PNK, GDI, RHT, YUMOn The Fly: Closing Wrap
Stocks on Wall Street were lower on the day, after news last night out of Washington indicated that House Speaker Boehner's 'Plan B' failed to garner enough support for passage in the House, leaving the fiscal cliff unresolved as lawmakers head home for Christmas. Light volume in the markets saw the averages trade in a narrow range following the morning's selloff... 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: After yesterday's close, Research in Motion (RIMM) reported Q3 revenue that beat consensus estimates and quarterly losses that were not as steep as feared, though 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. Shares of RIM opened higher in yesterday's after hours session, but quickly reversed and the weakness continued into today's trading, eventually closing down $3.21, or 22.73%, to $10.91...Yum! Brands (YUM) saw shares down $2.61, or 3.93%, to $63.88, the stock's third straight day of losses following reports that Chinese authorities were testing chicken suspected to have contained an antiviral medicine... MAJOR MOVERS: Among the notable gainers were Pinnacle Entertainment (PNK) and Ameristar Casinos (ASCA), which both rose after Pinnacle agreed to purchase Ameristar for $26.50 per share, or $2.8B. Shares of Pinnacle gained $2.85, or 21.35%, to $16.20 on the news, while Ameristar gained $4.43, or 20.07%, to $26.50. Also higher following earnings reports were Nike (NKE), up $6.10, or 6.16%, to $105.10, and Red Hat (RHT), up $2.38, or 4.52%, to $54.99. Among the noteworthy losers were shares of Herbalife (HLF), down $6.43, or 19.08%, to $27.27 as the company's public fight with Bill Ackman intensifies. Also lower were shares of Gardner Denver (GDI), down $8.14, or 10.78%, to $67.40 after a Reuters report said the company's takeover talks with SPX Corp. (SPW) fell through... INDICES: The Dow was down 120.88, or 0.91%, to 13,190.84; the S&P was down 13.54, or 0.94%, to 1,430.25; the Nasdaq was down 29.38, or 0.96%, to 3,021.01.
News For RIMM;YUM;PNK;ASCA;RHT;NKE;HLF;GDI;SPW From The Last 14 Days
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December 10, 2014
07:56 EDTYUM, YUMYum! Brands downgraded to Outperform from Buy at CLSA
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07:46 EDTYUMYum! Brands shares defended at Stifel
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07:39 EDTYUMYum! Brands now a 'show me' story, says UBS
UBS noted Yum! Brands revised its forward guidance and was disappointed as it undermined the confidence in the pace of the China recovery. The firm feels the guidance could be conservative, but said Yum! Brands is now a "show me" story with less benefit of the doubt offered ahead of a demonstrated recovery. UBS reiterated its Buy rating and $85 price target on Yum! Brands shares.
07:25 EDTNKENike sues employees who left for Adidas for stealing trade secrets, ESPN reports
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07:05 EDTYUMYum! Brands guidance could be conservative, says RBC Capital
After Yum! preannounced lower than expected China sales, RBC Capital was surprised by the news, but thinks the company's outlook for at least 10% EPS growth in 2015 could be conservative. The firm trimmed its price target on the name to $82 from $85 but keeps an Outperform rating on the shares.
06:43 EDTYUMYum! Brands to allow Chinese consumers to tour KFC kitchens, Reuters reports
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December 9, 2014
18:21 EDTYUMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Korn/Ferry (KFY), up 3.1%... Analogic (ALOG), up 2.7%. DOWN AFTER EARNINGS: Freshpet (FRPT), down 8.5% after reporting quarterly results... Krispy Kreme (KKD), down 4.9%... Broadcom (BRCM), reverses to down just below 1%. ALSO LOWER: Agios Pharmaceuticals (AGIO), down 1.9% after filing to sell $175M of common stock... Yum! Brands (YUM), down 4.6% after providing fiscal 2015 operating guidance.
17:03 EDTNKENike appoints Tom Peddie as VP and GM of the Emerging Markets
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16:27 EDTYUMYum! Brands down over 3% following FY14, FY15 guidance
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16:24 EDTYUMYum! Brands sees FY14 mid-single-digit adjusted EPS growth, consensus $3.24
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16:22 EDTYUMYum! Brands CEO says 'firmly committed to double-digit EPS growth in 2015'
Greg Creed, CEO effective January 1, 2015, said, “We are firmly committed to returning to double-digit EPS growth in 2015, delivering at least 10% growth with the potential to do significantly better. We fully expect to bounce-back in China and benefit from tremendous sales leverage as sales rebound. We have solid plans to drive same-store sales growth and margin improvement in China, while continuing to open new restaurants with confidence in the world’s fastest-growing economy. Further, sustained momentum at our KFC and Taco Bell Divisions, and the recent relaunch of our Pizza Hut U.S. business are also expected to contribute to our double-digit EPS growth. Our brands are the global leaders in their respective categories, and we expect to build on this strength with breakthrough product innovation, insight-driven marketing and digital leadership in the years ahead. Overall, we expect to open over 2,100 new international restaurants next year, further strengthening our lead in emerging markets. We remain focused on the three keys to driving shareholder value: same-store sales growth, new-unit development and generating high returns on invested capital. I’m confident we’ll deliver full-year EPS growth of at least 10% in 2015 and produce consistent double-digit EPS growth over the long term.”
16:20 EDTYUMYum! Brands provides FY15 operating guidance
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16:18 EDTYUMYum! Brands sees FY14 China division SSS negative mid-single digits
The company said, "As previously reported, China Division sales were significantly impacted by adverse publicity in July regarding improper food handling practices by a former supplier. Sales continue to recover, but at a slower pace than expected. We estimate China Division full-year same-store sales will be negative mid-single digits. With this assumption, we now estimate mid-single-digit full-year EPS growth, excluding Special Items." FY14 EPS consensus $3.24.
16:16 EDTYUMYum! Brands sees FY15 EPS growth at least 10%, consensus $3.78
Yum! expects to deliver at least 10% EPS growth in 2015, excluding Special Items.
December 8, 2014
10:00 EDTRHT, NKEOn The Fly: Analyst Downgrade Summary
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09:13 EDTYUMYum! Brands to host analyst and investor meeting
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08:14 EDTRHTRed Hat downgraded at Wells Fargo
As noted earlier, Wells Fargo downgraded Red Hat to Market Perform from Outperform. The firm downgraded the stock based on valuation. Target $64-$68.
06:46 EDTYUMYum! Brands coverage resumed with a Sell at Goldman
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06:38 EDTNKENike downgraded to Market Perform from Outperform at Telsey Advisory
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05:54 EDTRHTRed Hat downgraded to Market Perform from Outperform at Wells Fargo
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