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Stock Market & Financial Investment News

News Breaks
May 14, 2014
07:55 EDTRYL, RYL, BZH, BZH, LEN, LEN, KBH, KBH, WHR, WHR, WCIC, WCIC, TMHC, TMHC, HOV, HOV, CSTE, CSTEJPMorgan to hold a conference
7th Annual Homebuilding & Building Products Conference to be held in New York on May 14-15 with webcasted company presentations to begin on May 14 at 8 am. Webcast Link
News For RYL;BZH;LEN;KBH;WHR;WCIC;TMHC;HOV;CSTE From The Last 14 Days
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August 25, 2015
13:00 EDTLEN, HOV, RYLToll Brothers lags market rebound after reporting Q3 results
Shares of luxury home builder Toll Brothers (TOL) are trading lower after reporting third quarter profit and revenue that were lower than last year's Q3 results. WHAT'S NEW: Toll Brothers this morning reported Q3 earnings per share of 36c, well below the 53c the company reported in the year-ago quarter. Revenue for the quarter of $1.03B and deliveries of 1,419 units declined 3% in dollars and 2% in units from the year-ago level, while impairments rose to $18M from $6M in the year-ago quarter. Analysts were expecting Toll Brothers to report Q3 EPS of 49c on revenue of $1.05B. The company said that the average price of homes delivered was $724,000, compared to $732,000 in 3Q14. Looking ahead, Toll Brothers forecast fourth quarter deliveries of 1,645-1,945 units priced between $780,000-$800,000. The company also lowered the top end of its 2015 home deliveries forecast, and now sees deliveries of 5,350-5,650 homes compared to its prior forecast of 5,300-5,900 homes. Separately, The Commerce Department reported new home sales for July were up 5.4% to an annual pace of 507,000, which fell within the range of expectations. WHAT'S NOTABLE: On quarterly earnings conference call, Toll Brothers said it still sees net income and gross margin growth in 2016. The company added that the housing recovery is built on a "very solid foundation." The steady acceleration the industry is experiencing bodes well for the health of housing market due to pent-up demand, increasing household formations and current industry-wide production, the company said. The home builder said that there is "significant room" for growth with increased profitability in fiscal year 2016 and beyond. Toll also said it sees further consolidation in the sector. OTHERS TO WATCH: Other companies in the home building space include Lennar Corporation (LEN) PulteGroup (PHM), Hovnanian Enterprises, (HOV) and Ryland Group (RYL). PRICE ACTION: Shares of Toll Brothers are down 0.5% to $37.87 amid a broader market advance.
August 24, 2015
09:45 EDTCSTEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Outperform from Market Perform at Keefe Bruyette... Bristol-Myers (BMY) upgraded to Neutral from Underweight at Piper Jaffray... Chevron (CVX) upgraded to Neutral from Underperform at BofA/Merrill... Abercrombie & Fitch (ANF) upgraded to Overweight from Neutral... Nike (NKE) upgraded to Outperform from Market Perform at Telsey Advisory... DreamWorks (DWA) upgraded to Buy from Neutral at B. Riley... Caesarstone (CSTE) upgraded to Overweight from Equal Weight at Barclays... TransAlta (TAC) upgraded to Outperform from Market Perform at BMO Capital... Sarepta (SRPT) upgraded to Overweight from Neutral at Piper Jaffray... AutoZone (AZO) upgraded to Buy from Neutral at BofA/Merrill... Royal Dutch Shell (RDS.A) upgraded to Buy from Hold at Jefferies... Allscripts (MDRX) upgraded to Buy from Hold at Argus... China Unicom (CHU) upgraded to Buy from Hold at Jefferies... Ross Stores (ROST) upgraded to Buy from Neutral at Buckingham.
06:11 EDTCSTECaesarstone upgraded to Overweight from Equal Weight at Barclays
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August 21, 2015
15:30 EDTCSTECaesarstone recent pullback a buying opportunity, says JPMorgan
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August 20, 2015
09:42 EDTCSTEStifel disputes some aspects of negative report on Caesarstone
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08:46 EDTCSTECaesarstone says 'stands by all previous public statements'
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August 19, 2015
16:58 EDTCSTEOn The Fly: Top stock stories for Wednesday
The market opened deep in negative territory after a tumultuous trading session in China and a softer than expected U.S. consumer prices report. Sellers continued to push the averages lower throughout the morning, with the Dow tacking on losses of more than 200 points as investors waited for the release of the Fed minutes. The market rallied following an early leak of the minutes, which suggested officials are getting closer to raising rates but appear to be waiting for additional data. Despite the afternoon rally, the averages sold off once again heading into the close, leaving all three indices in the negatives for Wednesday. ECONOMIC EVENTS: In the U.S., the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%. There were no revisions to the 0.3% headline gain in June or the 0.2% growth in the ex-food and energy component. Component gains were muted across the board, with Energy prices up just 0.1% in July. Meanwhile, FOMC minutes showed no definitive indication of a September rate hike. Most committee members "judged that the conditions for policy firming had not yet been achieved, but they noted that conditions were approaching that point." Other members, however, believed that the inflation outlook "might not soon meet one of the conditions... for initiating a firming of policy." COMPANY NEWS: Shares of Dot Hill Systems (HILL) soared $4.50, or 86.87%, to $9.68 after Seagate Technology (STX) agreed to acquire the company for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016. Shares of the hard drive giant fell 5.03% to $49.43 for the session... Lowe's (LOW) shares saw gains of $1.34, or 1.84%, to $74.36 following the company's earnings report this morning, while Target (TGT) rose $59c, or 0.73%, to $80.89 after beating on both top and bottom lines. On a subsequent conference call, Target executives forecast a "choppy" competitive environment in Q3, though they added that the company "will not get beat" on promotions in Q4. Separately, American Eagle (AEO) lost 7.42% to $16.92 after its quarterly numbers. MAJOR MOVERS: Among the notable gainers were Palatin (PTN) and Apricus (APRI), showing respective advances of 3.19% and 7.89% after the FDA approved Sprout's female sexual dysfunction drug Addyi, with the agency remarking that it "continues to encourage drug development in this area." Note that both Palatin and Apricus are developing their own treatments in the space, and Apricus reaffirmed this morning its intent to seek a global partner as it advances its Femprox sexual dysfunction medication. Also higher was Yum! Brands (YUM), which gained $1.90, or 2.26%, to $86.10 after appointing a new CEO of its China division, adding that its same-store sales in the region "have turned significantly positive." Among the noteworthy losers was Rayonier Advanced Materials (RYAM), plunging $6.01, or 44.09%, to $7.62 after disclosing a legal battle with its customer Eastman Chemical (EMN) over "meet or release" contract stipulations which may impact Eastman's purchase obligations. Also lower was Caesarstone (CSTE), which lost $3.43, or 7.14%, to $44.61 after short-selling hedge fund Spruce Point said the stock has up to 75% downside due to heightened raw material costs and competitive concerns, among other factors. Separately, EOG Resources (EOG), Baytex Energy (BTE), and Vanguard Natural (VNR) saw respective losses of 4.15%, 15.53%, and 13.83% after WTI crude fell 5.02% for the session. INDEXES: The Dow declined 162.61, or 0.93%, to 17,348.73, the Nasdaq fell 40.30, or 0.80%, to 5,019.05, and the S&P 500 lost 17.31, or 0.83%, to 2,079.61.
11:35 EDTCSTECaesarstone sinks after short-seller publishes 146-page report
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11:11 EDTCSTECaesarstone shares have up to 75% downside, Spruce Point says
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11:07 EDTCSTECaesarstone mentioned cautiously by Spruce Point
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August 18, 2015
12:52 EDTWHRWhirlpool jumps after appliance shipments rise 11.2% in July
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