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Stock Market & Financial Investment News

News Breaks
July 22, 2014
10:46 EDTHLF, EJ, EDU, TSEM, GALT, KS, BCOR, AXL, PII, SBACHigh option volume stocks: SBAC KS EDU PII GALT EJ AXL TSEM HLF BCOR
News For SBAC;KS;EDU;PII;GALT;EJ;AXL;TSEM;HLF;BCOR From The Last 14 Days
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January 26, 2016
10:00 EDTSBACOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded on valuation, 2017 outlook at RBC Capital... America Movil upgraded to Overweight from Equal Weight at Morgan Stanley... BNC Bancorp (BNCN) upgraded to Buy from Hold at Gabelli... Casella Waste (CWST) upgraded to Strong Buy from Outperform at Raymond James... Cenovus Energy (CVE) upgraded to Buy from Neutral at Goldman... Cracker Barrel (CBRL) upgraded to Buy from Neutral at SunTrust... D.R. Horton (DHI) upgraded to Buy from Hold at Zelman... Edison International (EIX) upgraded to Buy from Hold at Evercore ISI... First Financial Bancorp (FFBC) upgraded to Buy from Hold at Sandler O'Neill... Hartford Financial (HIG) upgraded to Overweight from Neutral at Atlantic Equities... Heartland Financial (HTLF) upgraded to Buy from Hold at Sandler O'Neill... MFA Financial (MFA) upgraded to Overweight from Neutral at JPMorgan... National General (NGHC) upgraded to Overweight at Morgan Stanley... Navios Maritime Partners (NMM) upgraded to Overweight from Neutral at JPMorgan... PG&E (PCG) upgraded to Buy from Hold at Evercore ISI... SBA Communications (SBAC) upgraded to Buy from Hold at Stifel... Sally Beauty (SBH) upgraded to Outperform from Perform at Oppenheimer... Sanmina (SANM) upgraded to Neutral from Sell at Citi... Scorpio Bulkers (SALT) upgraded to Overweight from Neutral at JPMorgan... Southern Company (SO) upgraded to Hold from Sell at Evercore ISI... Southern Copper (SCCO) upgraded to Overweight from Neutral at JPMorgan... Vodafone (VOD) upgraded to Buy from Hold at Jefferies.
09:15 EDTPIIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Sprint (S), up 19.5%... Rambus (RMBS), up 8%... Freeport-McMoRan (FCX), up 11.3%... Sanmina (SANM), up 9.9%... Coach (COH), up 4.9%. ALSO HIGHER: Firstmerit (FMER), up 21.5% following the merger announcement with Huntington Bancshares (HBAN). DOWN AFTER EARNINGS: Polaris (PII), down 4.2%. ALSO LOWER: Huntington Bancshares, down 6.8% after announcing a merger with Firstmerit. Stratasys (SSYS), down 3.7% after being downgraded to Neutral from Overweight at JPMorgan.
07:17 EDTSBACSBA Communications upgraded on valuation at Stifel
As noted earlier, Stifel upgraded SBA Communications to Buy from Hold. The firm upgraded the stock on valuation, as it believes that the stock's decline in response to the news of Sprint (S) potentially building its own network has been overdone. In a worst case scenario, Sprrin't initiative would cause the churn rate of SBA's discounted cash flow to increase by 1.8% annually, according to the firm. The company's valuation would be lowered by $9 per share for each 50 basis points of additional churn, putting the stock's worst case valuation at $91 the firm added. Target $112.
06:16 EDTSBACSBA Communications upgraded to Buy from Hold at Stifel
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06:10 EDTPIIPolaris Industries sees FY16 EPS $6.20-$6.80, consensus $6.94
Sees FY16 sales to be down 2% to up 3%, consensus $4.82B. Ongoing currency volatility and industry retail sales uncertainty are the major reasons for the wider guidance range for sales and earnings per share for 2016.
06:09 EDTPIIPolaris Industries reports Q4 ORV and Snowmobile sales down 18% to $862M
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06:07 EDTPIIPolaris Industries: 2016 outlook reflects volatile year in powersports
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06:02 EDTPIIPolaris Industries reports Q4 EPS $1.66, consensus $1.64
Reports Q4 revenue $1.11B, consensus $1.08B
January 25, 2016
16:14 EDTKSOn The Fly: Top stock stories for Monday
Stocks began the session in negative territory and remained there throughout the day. The market has yet to de-couple from oil prices, as stocks continue to move in the direction of the commodity. The averages almost made it back to positive ground in the early afternoon, but with oil down more than 4% the sellers emerged and pushed the market toward session lows. The market continued to lose ground as oil fell further, giving up nearly 6% by the close on the New York Mercantile Exchange, bringing stocks' two day win streak to an end. ECONOMIC EVENTS: In the U.S., the economic calendar was light. The Dallas Fed manufacturing survey, the lone report of note, came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. West Texas Intermediate for March delivery fell $1.85, or 5.8%, to close at $30.34 a barrel on the NYMEX. COMPANY NEWS: Shares of McDonald's (MCD) advanced 0.7% to $119.20 after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S... Twitter (TWTR) fell 4.6% to $17.02 after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares... Tyco (TYC) jumped 11.6% to $34.15 after reaching a merger agreement with Johnson Controls (JCI) which will see Johnson shareholders owning 56% of the combined company's equity. Johnson Controls fell 3.9% to $34.21 following the merger announcement. MAJOR MOVERS: Among the notable gainers was Valeant (VRX), which rose 4.55% to $92.63 after hospitalized CEO Michael Pearson said he is "on the road to recovery" after a bout of pneumonia. The news was followed by announcements that Valeant has sold three of its skincare brands and received FDA acceptance of its biologics license application for psoriasis drug Brodalumab. Also higher was SunEdison (SUNE), which advanced 2.6% to $2.72 after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board. Meanwhile, energy savings firm EnerNOC (ENOC) jumped 69.5% to $7.05 after the Supreme Court ruled in favor of FERC's so-called "demand response" rule, sending energy generators Dynegy (DYN) and Talen Energy (TLN) down a respective 11.6% and 6.2%. Among the noteworthy losers was OncoMed (OMED), which plunged 42.9% to $10.04 after its Phase 2 trial of tarextumab in pancreatic cancer showed futility in an interim analysis. Also lower were containerboard and paper makers KapStone (KS), WestRock (WRK) and Packaging Corp (PKG), which dropped about 21%, 15% and 13%, respectively, after an industry publication reported that prices in the sector had declined. Additionally, Caterpillar (CAT) was the Dow's biggest decliner Monday, sinking 5% to $57.90 after being downgraded to Sell at Goldman Sachs. INDEXES: The Dow fell 208.29, or 1.29%, to 15,885.22, the Nasdaq lost 72.69, or 1.58%, to 4,518.49, and the S&P 500 declined 29.82, or 1.56%, to 1,877.08.
12:59 EDTPIIPolaris Industries volatility elevated into Q4 and outlook
Polaris Industries February call option implied volatility is at 54, March is at 45; compared to its 52-week range of 20 to 51, suggesting large near term price movement into the expected release of Q4 results on January 26.
12:17 EDTKSOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as oil prices resumed their slide, giving up some of the surge the commodity saw to close out last week. The stock market, which has been highly correlated with oil lately, continues to be led around by energy prices once again today. ECONOMIC EVENTS: In the U.S., the economic calendar was light with the Dallas Fed manufacturing survey the lone report of note. The survey came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. WTI crude oil dropped about 5% to trade near $30.50 per barrel near midday. COMPANY NEWS: Shares of McDonald's (MCD) advanced a bit over 1% after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S. On the other side of the Dow was Caterpillar (CAT), which fell nearly 4% to lead the bluechip index on the down side after its stock was downgraded to Sell at Goldman Sachs... Twitter (TWTR) fell about 4% after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares. MAJOR MOVERS: Among the notable gainers was Tyco (TYC), which rallied 10.8% after it announced that it entered into a definitive merger agreement with Johnson Controls (JCI). Johnson shares fell 2% after the deal announcement. Also higher was Williams Partners (WPZ), which gained 7% after it lowered its estimate of its 2016 growth capital funding needs to $2B, 32% lower than its previous plans. Among the noteworthy losers was OncoMed (OMED), which fell 46% after the company said its Phase 2 ALPINE clinical trial showed futility on an interim analysis. Also lower were KapStone (KS), WestRock (WRK), and Packaging Corp (PKG), which dropped 20%, 13%, and 11%, respectively, after an industry publication reported that prices in the sector had declined. INDEXES: Near midday, the Dow was down 78.00, or 0.48%, to 16,015.51, the Nasdaq was down 23.34, or 0.51%, to 4,567.84, and the S&P 500 was down 11.89, or 0.62%, to 1,895.01.
10:30 EDTKSContainerboard makers sink after prices cut
The shares of containerboard makers are falling after an industry publication reported that prices in the sector had declined. Citi and Deutsche Bank responded differently to the news. Citi recommended that investors avoid the sector and downgraded two stocks in the space, International Paper (IP) and Packaging Corp. (PKG). However, Deutsche Bank kept Buy ratings on three stocks in the sector - KapStone (KS), Packaging Corp. and WestRock (WRK), predicting that containerboard makers would look to balance supply with demand. BACKGROUND: On Friday night, Pulp & Paper Week lowered its benchmark kraftliner and semichemical medium prices by $15 per ton and $20 per ton, respectively. ANALYST REACTION: Friday's news was unexpected and will probably cause cause box prices to drop, wrote Deutsche Bank analyst Debbie Jones. As a result, analysts' estimates for companies in the sector will decline, Jones stated. However, the companies will respond by taking steps to balance supply with demand, the analyst believes. Moreover, some producers will try to keep prices stable, she stated. Estimating that the price cut would cause a 3%-4% reduction in the companies' earnings before interest taxes, depreciation and amortization, Jones kept Buy ratings on Kapstone Papaer, Packaging Corp. and Westrock. Conversely, Citi anayst Anthony Pettinari downgraded International Paper and Packaging Corp. to Neutral from Buy. The decline in kraftline prices was surprising, given stronger than expected December box shipments and supply discipline by the major companies in the sector, the analyst stated. Although the recent price cuts could be a one-time event, there is a possibility that additional price decreases will follow, making the stocks unattractive, the analyst believes. PRICE ACTION: In early trading, International Paper dropped 5.4% to $34.50, Packaging Corp tumbled 8.2% to $52.90, Kapstone sank 15% to $14.82 and WestRock fell 11.5% to $33.42.
10:00 EDTKSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
07:50 EDTKSDeutsche sees Containerboard stocks trading 'aggressively' down
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06:29 EDTKSKapStone downgraded to Underperform from Neutral at Macquarie
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06:03 EDTTSEMTower Semiconductor says 'no grounds' to allegations from class action
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January 22, 2016
10:00 EDTSBACHigh option volume stocks
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09:30 EDTTSEMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: CVS Health (CVS) initiated with an Outperform at Baird... Cognex (CGNX) initiated with an Outperform at Raymond James... Ctrip.com (CTRP) initiated with a Buy at Nomura... First Industrial Realty (FR) initiated with a Buy at Jefferies... Kura Oncology (KURA) initiated with an Outperform at JMP Securities... Matador (MTDR) initiated with an Outperform at Iberia... NetEase (NTES) initiated with a Neutral at Nomura... Praxair (PX) reinstated with an Underperform at BofA/Merrill... Primerica (PRI) initiated with an Outperform at William Blair... Prologis (PLD) initiated with a Hold at Jefferies... RAIT Financial (RAS) initiated with an Outperform at FBR Capital... STAG Industrial (STAG) initiated with a Hold at Jefferies... SolarCity (SCTY) initiated with an Overweight at Barclays... Sprouts Farmers Markets (SFM) initiated with an Outperform at Wells Fargo... Sunrun (RUN) initiated with an Overweight at Barclays... Terreno Realty (TRNO) initiated with a Hold at Jefferies... Tower Semiconductor (TSEM) initiated with a Strong Buy at Needham... Unique Fabricating (UFAB) initiated with a Buy at B. Riley... Walgreens Boots Alliance (WBA) initiated with an Outperform at Baird.
09:03 EDTPIISheffield Financial and Polaris Sales extend retail financing contract
Sheffield Financial, a division of Branch Banking and Trust Company, and Polaris Sales, a subsidiary of Polaris Industries (PII), have agreed to a five-year extension of their retail financing contract, effective January 1. The agreement allows Sheffield to continue providing lending services to Polaris customers through the Polaris dealer network. The contract covers installment financing for Polaris' all-terrain vehicles, Polaris RANGER and RZR side-by-side vehicles; snowmobiles; Victory, Indian Motorcycle, and Slingshot roadsters; and Global Electric Motorcars on-road electric/hybrid powered vehicles. Sheffield Financial is a division of Branch Banking and Trust Company, which is a subsidiary of BB&T (BBT).
07:35 EDTTSEMTower Semiconductor initiated with a Strong Buy at Needham
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