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Stock Market & Financial Investment News

News Breaks
February 27, 2013
10:00 EDTSSP, PKG, AH, AEGN, FDX, VRSN, RY, OAS, NUVA, MWE, INVN, HXM, GTI, FSLR, FCFS, OCFCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: E.W. Scripps (SSP) downgraded to Neutral from Overweight at JPMorgan... First Cash Financial (FCFS) downgraded to Hold from Buy at Jefferies... First Solar (FSLR) downgraded to Neutral from Outperform at RW Baird... GrafTech (GTI) downgraded to Neutral from Overweight at JPMorgan... Homex (HXM) downgraded to Underperform from Neutral at BofA/Merrill... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... MarkWest Energy (MWE) downgraded to Neutral from Outperform at Credit Suisse... NuVasive (NUVA) downgraded to Neutral from Buy at Mizuho... Oasis Petroleum (OAS) downgraded to Neutral from Buy at SunTrust... Royal Bank of Canada (RY) downgraded to Neutral from Buy at Citigroup... VeriSign (VRSN) downgraded to Neutral from Outperform at Credit Suisse... FedEx (FDX) downgraded to Hold from Buy at BB&T... Aegion (AEGN) downgraded to Neutral from Outperform at Boenning & Scattergood... Accretive Health (AH) downgraded to Neutral from Buy at Dougherty... Packaging Corp. (PKG) downgraded to Hold from Buy at Argus... First Solar (FSLR) downgraded following disappointing outlook at BofA/Merrill... OceanFirst Financial (OCFC) downgraded to Neutral from Buy at Sterne Agee.
News For SSP;FCFS;FSLR;GTI;HXM;INVN;MWE;NUVA;OAS;RY;VRSN;FDX;AEGN;AH;PKG;OCFC From The Last 14 Days
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July 24, 2014
16:30 EDTVRSNVeriSign boosts share buyback program by $491M to $1B
VeriSign said its board yesterday approved an additional authorization for share repurchases of approximately $491M of common stock, which brings the total amount to $1B authorized and available under Verisign's share buyback program, which has no expiration.
16:28 EDTVRSNVeriSign reports Q2 EPS 68c, consensus 64c
Reports Q2 revenue $250.4M, consensus $251.69M.
13:16 EDTPKGContainerboard names rally with Perry seeing 50%-100% upside
Richard Perry's Perry Capital took positions or increased holdings during Q2 in containerboard names International Paper (IP), RockTenn (RKT), KapStone (KS) and Packaging Corp. (PKG), Bloomberg reports. Perry believes managements can create master limited partnerships for their paper mills, driving share upside potential of 50%-100%, Bloomberg cites Perry as stating in the fund’s Q2 letter. Shares of containerboard names are rallying today, with International Paper up 5%, RockTenn and KapStone up 9%, and Packaging Corp. up 4% in afternoon trading. Perry Capital has $10.9B under management, according to Bloomberg.
08:19 EDTNUVALeerink medical devices analyst holds an analyst/industry conference call
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07:22 EDTVRSNVeriSign August volatility elevated into Q2 and outlook
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July 23, 2014
10:49 EDTINVNInvenSense likely won part of motion gyro sensor in iPhone 6, says Pacific Crest
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10:02 EDTPKGOn The Fly: Analyst Upgrade Summary
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09:06 EDTMWEMarkWest Energy downgraded to Accumulate from Speculative Buy at Global Hunter
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08:01 EDTPKG, PKGPackaging Corp. upgraded to Buy from Underperform at CLSA
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July 22, 2014
09:39 EDTOASOasis Petroleum upgraded to Buy from Neutral at Global Hunter
Price target raised to $65 from $54.
07:36 EDTFSLRFirst Solar shares dramatically undervalued, says Brean Capital
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July 21, 2014
17:07 EDTPKGPackaging Corp. sees Q3 EPS $1.25, consensus $1.26
Mark W. Kowlzan, CEO of PCA, said “Looking ahead to Q3, we expect higher sales volumes and lower operating costs from both higher synergies and less scheduled annual mill maintenance downtime. These items will be partially offset by higher amortization of annual outage repair costs, higher electricity prices, higher freight and chemical costs, and increased depreciation expense. Considering these items, we expect Q3 EPS of $1.25.”
17:06 EDTPKGPackaging Corp. reports Q2 EPS ex-items $1.16, consensus $1.11
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15:30 EDTPKGNotable companies reporting after market close
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07:55 EDTPKGJuly containerboard medium prices decline $10, says Deutsche Bank
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July 18, 2014
16:20 EDTFDXOn The Fly: Closing Wrap
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12:48 EDTFSLRSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
09:32 EDTFDXFedEx slips in early trading, levels to watch
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06:33 EDTFDXFedEx says loss from DOJ suit 'could be material' if convicted
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06:30 EDTFDXFedEx says innocent of charges brought by Justice Department
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