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News Breaks | | | | March 18, 2013 | | 09:19 EDT |  | GLUU, CCL, DEXO, ERIC, DB, SPMD, STM, RBS, EDAC, STZ, JCP, BUD | On The Fly: Pre-market Movers
HIGHER: EDAC Technologies (EDAC), up 7.5%, agreed to be acquired by affiliate of Greenbriar Equity for $17.75 per share in cash... Glu Mobile (GLUU), up 2.7% following upgrade to Outperform at Northland Securities... J.C. Penney (JCP), up 1.1% after ISI Group says company could consider REIT entity for some properties... Constellation Brands (STZ), up 2.7%, after announcing the company along with Anheuser-Busch InBev (BUD), Grupo Modelo and Crown Imports have made substantial progress in their talks with the Department of Justice toward resolving the DoJ's suit. A-B InBev down 0.7%... STMicroelectronics (STM), up 3.7% after the company and Ericsson (ERIC) agree to terms to split up joint venture ST-Ericsson. Ericsson down 2%... LOWER: Dex One (DEXO), down 5.2%, SuperMedia (SPMD), down 11.6%, after both voluntarily file for Chapter 11 bankruptcy protection in conjunction with shareholder approval of their proposed merger... Carnival (CCL), down 3.2% following downgraded to Neutral at Exane BNP Paribas... Royal Bank of Scotland (RBS), down 4.5%, Deutsche Bank (DB), down 4%, among many European banks weak following Cyprus bailout plan. | |
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News For STZ;BUD;JCP;EDAC;STM;ERIC;GLUU;SPMD;DEXO;RBS;DB;CCL From The Last 14 Days Check below for free stories on STZ;BUD;JCP;EDAC;STM;ERIC;GLUU;SPMD;DEXO;RBS;DB;CCL the last two weeks. |
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| May 17, 2013 | | 10:55 EDT | | JCP | J.C. Penney drops after results miss expectations
 Subscribe for More Information | | | 09:48 EDT |  | JCP | J.C. Penney falls after earnings miss, levels to watch
Subscribe for More Information | | | 08:35 EDT |  | JCP | J.C. Penney reiterated as a Sell at Northcoast
Subscribe for More Information | | | 07:47 EDT | | JCP | J.C. Penney situation should only improve from here, says RW Baird
Baird believes there are several reasons why J.C. Penney's situation should only improve from here including better recent trends, prudent pricing and promotion, easy comps, and the re-introduction of in-demand product for fall. Baird maintains its Neutral rating and $19 price target pending further details on the company's new strategy. | | | 07:11 EDT |  | JCP | J.C. Penney CEO says needs time to fix problems, Reuters reports
J.C. Penney CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, reports Reuters.Reference Link | | | 06:28 EDT | | JCP | J.C. Penney CEO likely to make substantial progress, says Deutsche Bank
Subscribe for More Information | | | 06:06 EDT | | JCP | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: A so-so Q1 earnings season hasn't dented investors' enthusiasm for stocks as prices have been rising, with the DJIA up 16% for the year and 4.2% since earnings season began April 8, the Wall Street Journal reports...JPMorgan Chase (JPM), in a last-ditch effort to beat back activist investors, sent a letter to shareholders who have yet to vote on the nonbinding proposal ahead of the May 21 annual meeting, urging them to reject a proposal to split the chairman and CEO roles held by James Dimon, the Wall Street Journal reports...REUTERS: Amazon.com (AMZN) will be called back to the British parliament to clarify how its activities in the U.K. justify its low corporate income tax bill, Reuters reports...J.C. Penney (JCP) CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, Reuters reports...BLOOMBERG: Apple (AAPL), which holds $102B in cash and investments outside the U.S., will suggest changes to corporate-tax laws to encourage companies to bring more cash into the country, Bloomberg reports...Fiat’s (FIATY) deliberations over moving its headquarters to the U.S. after a merger with Chrysler Group LLC. raised concern among Italian unions and politicians about the plans of the country’s biggest manufacturer. CEO Marchionne is considering the move because Fiat’s main sources of revenue and profit are shifting to North America, Bloomberg reports. | | | 05:50 EDT | | JCP | J.C. Penney price target raised to $20 from $15 at Citigroup
Citigroup raised its price target for J.C. Penney to $20 following the company's Q1 results while keeping a Neutral rating on the stock. Citi says it is encouraged by new CEO Mike Ullman's strategic plan, which it expects will improve same-store-sales. | | | May 16, 2013 | | 18:56 EDT | | JCP | On The Fly: After Hours Movers
UP AFTER EARNINGS: SINA (SINA), up 4.2%. ALSO HIGHER: Kansas City Southern (KSU), up 1.6% after it was announced the company would replace Dean Foods (DF) in the S&P 500 on May 23. DOWN AFTER EARNINGS: Autodesk (ADSK), down 6.5% after earnings, guiding its second quarter below expectations... Aruba Networks (ARUN), down 17.1% after earnings, guiding its fourth quarter below expectations... Nordstrom (JWN), down 3.5%... J.C. Penney (JCP), down 1.7%... Brocade (BRCD), down 2.4% after earnings, guiding its third quarter below expectations. | | | 18:03 EDT | | JCP | J.C. Penney says Q1 traffic down 6% vs. year ago
Subscribe for More Information | | | | 16:42 EDT | | JCP | J.C. Penney down 30c, or 1.60%, to $18.49 after earnings miss estimates
| | | 16:37 EDT | | JCP | J.C. Penney reports Q1 gross margin 30.8% of sales vs. 37.6% a year ago
Subscribe for More Information | | | 16:31 EDT |  | JCP | J.C. Penney reports Q1 adjusted EPS ($1.31), consensus (86c)
Subscribe for More Information | | | 16:29 EDT |  | STZ | On The Fly: Closing Wrap
Stocks on Wall Street were lower following some disappointing economic data and a hint from a regional Fed president that the central bank may taper its easing program in the coming months. The averages traded in a narrow range for much of the session before moving lower in the final hour of trading. Comments by San Francisco Fed president John Williams late in the afternoon, suggesting that the central bank may begin slowing its bond buying pace by the summer, may have spurred the late session selling. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares added $2.66, or 12.54%, to $23.87 to lead the blue chip index after the company's results beat expectations on the top and bottom lines. Wal-Mart fell $1.36, or 1.7%, to $78.50 after its first quarter earnings sand second quarter outlook missed the consensus forecast... Tesla Motors (TSLA) last night announced a stock and debt offering of more than $800M, with CEO Elon Musk announcing his intent to buy $100M of the offering, and shares of the electric car maker added $7.36, or 8.67%, to $92.20. MAJOR MOVERS: Among notable gainers was Aegerion (AEGR), up $14.73, or 31.37%, to $61.70 after the company said its Juxtapid treatment may have a $1B global market opportunity and at least two analyst firms raised their price targets on its shares. Also higher was Constellation Brands (STZ), up $1.52, or 3.03%, to $51.76 after the stock was upgraded at Stifel and ISI Group. Among noteworthy losers following analyst downgrades were AMD (AMD), which fell 55c, or 12.56%, to $3.83 after Goldman downgraded the stock to Sell, and CSC (CSC), which slid $2.12, or 4.74%, to $42.59 after being cut to Hold at Deutsche Bank. Also lower following its quarterly report was NetQin Mobile (NQ), down 72c, or 7.5%, to $8.88. INDICES: The Dow was down 42.47, or 0.28%, to 15,233.22; the Nasdaq was down 6.38, or 0.18%, to 3,465.24; and the S&P 500 was down 8.31, or 0.50%, to 1,650.47. | | | 15:17 EDT |  | RBS | Royal Bank of Scotland management to meet with JPMorgan
Subscribe for More Information | | | 15:14 EDT | | JCP | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Dell (DELL), consensus 35c; Applied Materials (AMAT), consensus 13c; Nordstrom (JWN), consensus 76c; Autodesk (ADSK), consensus 45c; J. C. Penney (JCP), consensus (86c); SINA (SINA), consensus (3c); ViaSat (VSAT), consensus 2c; Brocade Communications (BRCD), consensus 15c; Aruba Networks (ARUN), consensus 15c. | | | 13:52 EDT |  | JCP | J.C. Penny May 19 straddle priced for 8% move into Q1
| | | 12:32 EDT | | DB, RBS | EU bank stress test delayed until 2014 by regulator
The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link | | | 11:40 EDT | | JCP | Stocks with call strike movement; FSLR JCP
Subscribe for More Information | | | 10:03 EDT |  | STZ | On The Fly: Analyst Upgrade Summary
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