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Stock Market & Financial Investment News

News Breaks
July 21, 2014
08:34 EDTROSTRoss Stores opens 30 new locations in June and July
Ross Stores announced the June and July openings of 23 Ross Dress for Less and seven dd's DISCOUNTS stores across 17 different states. These new locations are part of the off-price retailer's plans to add a total of approximately 75 Ross and 20 dd's DISCOUNTS stores during 2014.
News For ROST From The Last 14 Days
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November 21, 2014
16:36 EDTROSTMarket ends week higher as domestic data, foreign central banks boost shares
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16:20 EDTROSTOn The Fly: Closing Wrap
Stocks on Wall Street gained after China's central bank cut interest rates for the first time in over two years to bolster its economy. Additionally, the head of Europe's central bank said he was determined to do what is needed to ensure the area's economy does not once again fall into crisis. ECONOMIC EVENTS: In the U.S., the Kansas City Fed manufacturing index for November had a reading of 7, compared to the consensus forecast for a reading of 6. In Asia, the People's Bank of China unexpectedly cut interest rates, slashing the one-year lending rate by 40 basis points and the one-year deposit rate by 25 basis points. The move, which was the central bank's first interest rate cut since 2012, surprised markets around the globe. In Europe, European Central Bank President Mario Draghi said indicators have been declining to levels he would deem "excessively low" and that he is determined to use more aggressive measures, such as large scale asset purchases, as needed. COMPANY NEWS: Microsoft (MSFT) was the worst performer on the Dow after Jefferies initiated coverage of the stock with an Underperform rating. Microsoft's stock has rallied 30% in the last year, but the company is still facing the same fundamental problems as in previous years, Jefferies analyst John DiFucci wrote. He set a $40 price target on the shares, which slipped 74c, or 1.5%, to $47.97. MAJOR MOVERS: Among the notable gainers was Ross Stores (ROST), which advanced $6.06, or 7.28%, to $89.27 after the company reported stronger than expected Q3 results. Also higher were shares of Caterpillar (CAT), which rose $4.36, or 4.27%, to $106.45 amid the quantitative easing actions taken abroad and after research firm Stifel initiated coverage of the stock with a Buy rating. Among the noteworthy losers was GameStop (GME), which sunk $5.68, or 13.05%, to $37.86 after the video game retailer's third quarter results, as well as its fourth quarter and full year profit forecasts, trailed consensus estimates. Also lower were shares of The Gap (GPS), which dropped $1.68, or 4.19%, to $38.46 after the owner of Banana Republic, Old Navy and its namesake clothing brand lowered its fiscal year profit outlook. INDEXES: The Dow rose 91.06, or 0.5%, to 17,810.06, the Nasdaq gained 11.10, or 0.24%, to 4,712.97, and the S&P 500 added 10.75, or 0.52%, to 2,063.50.
13:20 EDTROSTOn The Fly: Midday Wrap
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10:00 EDTROSTOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Best Buy (BBY) upgraded to Outperform from Market Perform at Telsey Advisory... BlackRock (BLK) upgraded to Outperform from Market Perform at Bernstein... Cerner (CERN) upgraded to Outperform from Market Perform at Cowen... Community Health (CYH) upgraded to Outperform from Market Perform at Raymond James... Lockheed Martin (LMT) upgraded to Neutral from Sell at UBS... Teekay Offshore Partners (TOO) upgraded to Buy from Neutral at Citigroup... Trinity Industries (TRN) upgraded to Buy from Neutral at Longbow... Zebra Technologies (ZBRA) upgraded to Overweight from Neutral at JPMorgan... Ross Stores (ROST) upgraded to Hold from Sell at Maxim... St. Jude Medical (STJ) upgraded to Outperform from Market Perform at Cowen... Wolverine World Wide (WWW) upgraded to Buy from Neutral at DA Davidson... D.R. Horton (DHI) upgraded to Market Perform from Underperform at Raymond James... KB Home (KBH) upgraded to Market Perform from Underperform at Raymond James... Sony (SNE) upgraded to Overweight from Neutral at JPMorgan.
09:22 EDTROSTRoss Stores price target raised to $95 from $85 at Cowen
Cowen raised its price target on Ross Stores to $95 from $85 following solid Q3 results. The firm cited the benefit of lower gas prices in 2015 helping sales and expects the company's dividend and share repurchases to increase over the next four years. Cowen reiterated its Outperform rating on Ross Stores shares.
09:17 EDTROSTOn The Fly: Pre-market Movers
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08:45 EDTROSTRoss Stores price target raised to $92 from $84 at MKM Partners
MKM Partners increased its price target on Ross Stores after the company reported stronger than expected Q3 results. The firm says that the results increased its confidence in the company's outlook. It keeps a Buy rating on the shares.
08:11 EDTROSTRoss Stores upgraded to Hold from Sell at Maxim
Maxim upgraded Ross Stores to Hold following the Q3 report and guidance citing a sales acceleration.
07:29 EDTROSTRoss Stores remains overvalued despite Q3 results, says Canaccord
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07:27 EDTROSTRoss Stores price target raised to $95 from $80 at BofA/Merrill
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November 20, 2014
18:21 EDTROSTOn The Fly: After Hours Movers
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16:03 EDTROSTRoss Stores up 2.8% after reporting Q3 results
16:03 EDTROSTRoss Stores sees FY14 EPS $4.28-$4.32, consensus $4.27
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16:02 EDTROSTRoss Stores sees Q4 EPS $1.05-$1.09, consensus $1.10
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16:01 EDTROSTRoss Stores reports Q3 EPS 93c, consensus 87c
Reports Q3 revenue $2.6B, consensus $2.55B. Reports Q3 SSS up 4%.
15:36 EDTROSTRoss Stores technical comments before earnings
The shares touched a new life high today at $83.54 ahead of earnings news. Traders should note that the new high is a marginal new high compared to the price peak of November of last year. For the stock to be on a new bullish leg up, price needs to move well-past that prior peak. At current price it would not be a stretch for the shares to trade in the $85 to $90 area on solid news with good guidance. On worse than expected news or outlook a first test down to the $80 area would be probable. Depending on the nature of the news, an additional set of support levels to watch as potential downside objectives would be at $78.11, $75.53, and $74.67.
15:28 EDTROSTNotable companies reporting after market close
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November 14, 2014
10:00 EDTROSTOn The Fly: Analyst Downgrade Summary
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08:15 EDTROSTRoss Stores downgraded to Sell at Canaccord
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06:36 EDTROSTRoss Stores downgraded to Sell from Hold at Canaccord
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