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Stock Market & Financial Investment News

News Breaks
January 28, 2013
09:12 EDTSNE, RPRX, MW, ROP, JOSB, FURX, KERX, BBY, HES, CAT, BBBYOn The Fly: Pre-market Movers
UP AFTER EARNINGS/GUIDANCE: Caterpillar (CAT), up 2.5%... ALSO HIGHER: Hess (HES), up 6.6% after announcing intent to pursue sale of terminal network, saying Elliott Associates may acquire more shares... Sony (SNE), up 7% following upgrade to Buy at Citigroup... Best Buy (BBY), up 3.2% following upgrade to Buy at BB&T... Keryx Biopharmaceuticals (KERX), up 45% after Zerenex meets primary study endpoint... Furiex (FURX), up 47% after confirming Takeda's receipt of FDA approval for certain drugs, Canaccord initiates stock with a Buy... DOWN AFTER EARNINGS/GUIDANCE: JoS. A. Bank (JOSB), down 16.6%... Roper (ROP), down 2.8%... ALSO LOWER: Men's Wearhouse (MW), down 3.5% after peer JoS. A. Bank's warns on Q4 results... Repros Therapeutics (RPRX), down 5.7% after revising date for expected clinical results from study of Androxal... Bed Bath & Beyond (BBBY), down 2.4% following downgrade to Sell at Goldman.
News For SNE;CAT;HES;BBY;KERX;FURX;JOSB;ROP;MW;RPRX;BBBY From The Last 14 Days
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September 18, 2014
12:45 EDTRPRXOn The Fly: Midday Wrap
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11:39 EDTSNESony's no-dividend policy could be sign of hope, not doom, Nikkei reports
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11:15 EDTRPRXRepros sinks after panel backs tests for testosterone therapies
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10:52 EDTRPRXOptions with increasing implied volatility
Options with increasing implied volatility: RPRX VALE NLY AGNC
10:40 EDTBBBYPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
10:17 EDTSNESony Computer Entertainment division upbeat on 2014 profit, Reuters reports
The head of Sony's PlayStation division aims to raise its profit outlook for 2014 due to the strong sales of the latest PalyStation 4 and the rollout of games and content for its network services, reports Reuters. In an interview with Reuters, Sony Computer Entertainment CEO Andrew House said We raised our profit prediction and I hope that's a trend we can continue, even within this fiscal year." Sony has sold 10.3 million PlayStation 4 consoles as of Sept. 6. Reference Link
07:38 EDTHESUBS to hold a conference
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07:27 EDTSNESony CEO says 'running out of options' for electronics unit, WSJ reports
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07:26 EDTSNEGartner: Smartwatch market ready to expand, poised for takeoff, DigiTimes says
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07:19 EDTRPRXRepros Therapeutics sell-off overdone, says Brean Capital
Brean Capital said the selling in Repros Therapeutics is overdone after an FDA panel voted overwhelmingly in support for a more restrictive label that limits the use of TRT drugs to only patients with classic hypogonadism. The firm feels since Androxal has not been targeting age-related hypogonadism it does not deserve to be negatively impacted by yesterday's ruling. Brean Capital maintains its Buy rating on Repros Therapeutics and $41 price target on the shares.
07:00 EDTRPRXRepros Therapeutics price target lowered to $13 from $24 at Piper Jaffray
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06:45 EDTSNEMobile DRAM bit growth to reach 37.5% in 2H14, DigiTimes Research reports
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06:10 EDTRPRXFDA panel votes 20-1 to study changes to testosterone therapies
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September 17, 2014
10:44 EDTHESHess, PDVSA said to finally find buyer for Hovensa refinery, TankTerminals says
U.S. Virgin Islands Governor John de Jongh said Monday that Hovensa, which is jointly owned by Hess and PDVSA, has agreed in principle with an unidentified buyer for the sale of its refinery assets, though a Hovensa spokesman said Tuesday that the company has no comments on a deal or the governor's comments, reported TankTerminals.com. Reference Link
09:50 EDTBBBYBed Bath & Beyond 2H guidance appears optimistic, says Cleveland Research
Cleveland Research checks indicate Bed Bath & Beyond Q2 sales trends remain flattish to up 1%, similar to Q1. The firm believes 2H guidance is too optimistic, especially for FY comps of +3%. The analyst remains cautious on shares and expect margin pressures to continue. Shares are Neutral rated.
09:10 EDTSNEOn The Fly: Pre-market Movers
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07:08 EDTSNESony volatility expected to move after raises its net loss forecast
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06:18 EDTSNEAU Optronics enters Sony SmartWatch 3's supply chain, DigiTimes reports
AU Optronics (AUO) has entered Sony Mobile's (SNE) supply chain for the SmartWatch 3, reports DigiTimes. AUO will supply 30% of the 1.6-inch panels for the new smartwatch. Reference Link
05:34 EDTSNESony lowers FY14 net loss estimate to 230B from 50B yen
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September 16, 2014
07:26 EDTCATUltima Media to hold a conference
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