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Stock Market & Financial Investment News

News Breaks
June 2, 2014
04:55 EDTSYY, SYY, BYI, BYI, VAC, VAC, PNK, PNK, OWW, OWW, H, H, CAR, CAR, DIN, DIN, SEAS, SEAS, FUN, FUN, LQ, LQGoldman to hold a conference
Lodging, Gaming, Restaurant and Leisure Conference to be held in New York on June 2-3.
News For SYY;FUN;SEAS;DIN;CAR;H;OWW;PNK;VAC;BYI;LQ From The Last 14 Days
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February 4, 2016
12:06 EDTDINBattleground: Buffalo Wild Wings gets upgraded and downgraded after earnings
Shares of Buffalo Wild Wings (BWLD) have rallied today following the company's fourth quarter earnings report. An analyst from Raymond James upgraded the stock following the report, saying that the sports-focused restaurant chain's sales visibility should improve in 2016. An analyst from Longbow, on the other hand, downgraded Buffalo Wild Wings due to concerns over the deceleration of its same-store sales growth. WHAT'S NEW: After the market close yesterday, Buffalo Wild Wings reported fourth quarter earnings per share of $1.32 on revenue of $490.2M, lower than consensus estimates of $1.48 and $507.23, respectively. Same-store sales grew 1.9% at company-owned restaurants and 0.1% at franchised restaurants, the company said. Buffalo Wild Wings also provided an outlook for fiscal 2016, saying it expects FY16 EPS of $5.95-$6.20, compared to the consensus forecast of $6.48. For 2016, the company expects single-digit same-store sales growth, including modestly positive traffic. BULLISH TAKE: Raymond James analyst Brian Vaccaro upgraded Buffalo Wild Wings to Outperform from Market Perform and established a $165 price target on shares. The analyst said that even though the company's Q4 earnings fell below expectations, he was encouraged by its better than expected first quarter comps and sees comparable store sales visibility improving through 2016. Vaccaro said that management's guidance appears to be conservative with respect to margins and reflects a strong 2016 earnings growth acceleration. The analyst added that the risk/reward factor for the stock is "favorable." In addition, UBS analyst Keith Siegner reiterated a Buy rating on Buffalo Wild Wings with a $200 price target on shares, saying that weakness in the stock following its lower than expected Q4 results presents a buying opportunity. The analyst said that 2016 "looks favorable" for the company and that various company initiatives should lead to solid top-line results. BEARISH TAKE: Longbow analyst Alton Stump downgraded Buffalo Wild Wings to Neutral from Buy, citing concerns over the deceleration of the company's same-store sales growth. Stump said that the stalling in positive sales growth is likely due at least in part to a more competitive market within the domestic bar and grill category. The analyst also said that traditional wing costs have failed to moderate meaningfully over the last 9-12 months and that management now anticipates "flattish" year over year bone-in wing costs in 2016. Stump said that disappointing SSS growth may bode negatively for other bar and grill restaurants including Applebee's, owned by DineEquity (DIN), BJ's Restaurants (BJRI), and Chili's, owned by Brinker (EAT). The analyst added that his firm reduced its Q1 EPS forecast for Buffalo Wild Wings to $1.77 from $1.81 and FY16 EPS to $5.72 from $6.59. For company-owned SSS, the firm now sees a flat performance for the company in Q1, modest 0.8% growth in 2016 instead of the previous forecast of 2.2%, and 2% growth in 2017. PRICE ACTION: At midday, Buffalo Wild Wings gained 6.7% to $153.24.
10:01 EDTSEASOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AT&T (T) initiated with a Buy at DA Davidson... Abaxis (ABAX) initiated with an Underperform at Credit Suisse... Aratana Therapeutics (PETX) initiated with an Outperform at Credit Suisse... Care.com (CRCM) initiated with an Equal Weight at Morgan Stanley... GCP Applied Technologies (GCP) initiated with a Buy at Jefferies... Heritage-Crystal Clean (HCCI) initiated with a Buy at Roth Capital... IDEXX (IDXX) initiated with an Outperform at Credit Suisse... Nexvet Biopharma (NVET) initiated with an Outperform at Credit Suisse... PetMed Express (PETS) initiated with an Underperform at Credit Suisse... Phibro Animal Health (PAHC) initiated with an Outperform at Credit Suisse... Pure Storage (PSTG) initiated with a Perform at Oppenheimer... SeaWorld (SEAS) initiated with a Neutral at Janney Capital... Seattle Genetics (SGEN) initiated with an Overweight at Barclays... VCA Inc. (WOOF) initiated with an Outperform at Credit Suisse... Verizon (VZ) initiated with a Neutral at DA Davidson... Zoetis (ZTS) initiated with an Outperform at Credit Suisse.
08:00 EDTSEASSeaWorld initiated with a Neutral at Janney Capital
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February 3, 2016
11:01 EDTCARAvis Budget, American Airlines extend preferred partnership agreement
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11:00 EDTSEASBarrow, Hanley reports 10.30% passive stake in SeaWorld
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10:00 EDTHOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADT Corp. (ADT) upgraded to Equal Weight from Underweight at Morgan Stanley... Badger Meter (BMI) upgraded to Outperform from Neutral at Baird... Boot Barn (BOOT) upgraded to Buy from Neutral at B. Riley... Chipotle (CMG) upgraded to Outperform from Market Perform at Wells Fargo... Dow Chemical (DOW) upgraded to Top Pick from Outperform at RBC Capital... Electro Scientific (ESIO) upgraded to Buy from Hold at Needham... Hyatt (H) upgraded to Outperform from Market Perform at Wells Fargo... Intel (INTC) upgraded to Neutral from Sell at Goldman... Mallinckrodt (MNK) upgraded to Buy from Neutral at Mizuho... Michael Kors (KORS) upgraded to Neutral from Sell at Citi... NeoPhotonics (NPTN) upgraded to Strong Buy from Outperform at Raymond James... PGT, Inc. (PGTI) upgraded to Buy from Hold at Craig-Hallum... Performance Sports Group (PSG) upgraded to Outperform from Neutral at Wedbush... Superior Drilling (SDPI) upgraded to Buy from Neutral at Roth Capital... Syntel (SYNT) upgraded to Buy from Hold at Maxim... Valley National (VLY) upgraded to Overweight from Neutral at Piper Jaffray... Willis Towers Watson (WLTW) upgraded to Buy from Neutral at SunTrust.
07:06 EDTHHyatt upgraded to Outperform from Market Perform at Wells Fargo
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February 2, 2016
10:01 EDTSYYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Agnico Eagle (AEM) downgraded to Hold from Buy at Desjardins... Alere (ALR) downgraded to Hold from Buy at Canaccord... Antero Resources (AR) downgraded to Reduce from Neutral at SunTrust... Carbylan (CBYL) downgraded to Market Perform from Outperform at Leerink... Copa Holdings (CPA) downgraded to Hold from Buy at Deutsche Bank... Dominion (D) downgraded to Neutral from Buy at Citi... Duke Energy (DUK) downgraded to Market Perform from Outperform at Wells Fargo... Hain Celestial (HAIN) downgraded to Neutral from Overweight at Piper Jaffray... Integrated Device (IDTI) downgraded to Neutral from Buy at BofA/Merrill... Logitech (LOGI) downgraded to Underweight from Equal Weight at Morgan Stanley... Merus Labs (MSLI) downgraded to Sector Perform from Outperform at Scotiabank... New Gold (NGD) downgraded to Sell from Buy at Desjardins... Nokia (NOK) downgraded to Underperform from Buy at CLSA... Plantronics (PLT) downgraded to Underperform from Outperform at Raymond James... Pool Corp. (POOL) downgraded to Equal Weight from Overweight at Stephens... Praxair (PX) downgraded to Sector Weight from Overweight at KeyBanc... Rofin-Sinar (RSTI) downgraded to Neutral from Buy at Longbow... Southwestern Energy (SWN) downgraded to Neutral from Overweight at JPMorgan... Stifel cuts Twitter (TWTR) to Sell after noting Yahoo has significantly more users... Superior Energy (SPN) downgraded to In-Line from Outperform at Imperial Capital... Sysco (SYY) downgraded to Underweight from Equal Weight at Morgan Stanley... Telenor (TELNY) downgraded to Underperform from Neutral at Credit Suisse... Twitter (TWTR) downgraded to Sell from Hold at Stifel... Valeo (VLEEY) downgraded to Underweight from Equal Weight at Morgan Stanley.
08:13 EDTSYYSysco downgraded to Underweight on valuation at Morgan Stanley
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07:33 EDTHExecutives' Club of Chicago to hold a forum
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06:01 EDTSYYSysco downgraded to Underweight from Equal Weight at Morgan Stanley
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February 1, 2016
16:21 EDTSYYOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, beginning February the way they spent most of January, weighed down by the price of oil, which fell about 6% for the session. Also hitting the market early were weak economic reports, both in China and the U.S. The averages moved higher late in the day as investors awaited the next barrage of earnings reports, which will include results from Google parent Alphabet (GOOG). ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in December, versus expectations for an increase of 0.2%, while spending was flat, versus expectations for an increase of 0.1%. Markit's manufacturing purchasing managers index for January dipped to 52.4 in the final January reading, down from the 52.7 flash reading and below the 52.6 reading that was expected. The Institute for Supply Management's manufacturing index for January came in at 48.2, below the 48.4 that analysts expected. Construction spending rose 0.1% in December, which was weaker than the 0.6% increase that was forecast. Separately, Federal Reserve Vice Chairman Stanley Fischer spoke about recent monetary policy decisions undertaken by the Fed, reiterating expectations that "economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate," while also revealing that four rate hikes is among the numbers being discussed by the Federal Reserve for this year. In China, the government's official manufacturing purchasing managers index fell to 49.4 in January from 49.7 in December. The private Caixin manufacturing PMI edged up to 48.4 from 48.2 in the prior reading, but both figures still remain in contraction territory. In Europe, Markit's manufacturing PMI for the euro zone dropped to 52.3 from December's 53.2, in-line with the earlier flash estimate. COMPANY NEWS: After swinging as high as $18.77, shares of Twitter (TWTR) ended the day up 6.55% at $17.90 after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen have "considered some sort of deal" for the microblog service operator, though Lessin noted she didn't know if deal talks are currently active. Later in the day, a source familiar with the matter told Fortune that Silver Lake has no interest in acquiring "even a slice" of Twitter... Alere (ALR) surged 45.5% to $54.11 after Abbott (ABT) agreed to acquire the company for $56 per share at a total expected equity value of $5.8B. In other M&A news, Questar (STR) jumped 22.5% to $24.99 after Dominion Resources (D) agreed to acquire it for $25 per share, or about $4.4B. Dominion slipped 2.76% after announcing the deal and reporting its latest quarterly results... Chipotle (CMG) rose 4.3% to $472.64 after the Centers for Disease Control and Prevention released its final update on the company's E. coli scare, saying the two outbreaks "appear to be over." MAJOR MOVERS: Among the notable gainers were Sysco (SYY) and Aetna (AET), which advanced 8.4% and 1.4%, respectively, after reporting quarterly earnings. Also higher was Barracuda Networks (CUDA), which jumped about 11% to $11.75 after Bloomberg reported the company is exploring a sale. In addition, Time Warner (TWX) gained 2.7% after the New York Post reported over the weekend that billionaire investor Nelson Peltz is considering taking an activist position in the company. Among the noteworthy losers was GoPro (GPRO), which declined 3.4% to $11.06 after analysts from Piper Jaffray and Citi predicted that the company's guidance this week will disappoint investors. Also lower was DreamWorks (DWA), which fell 6.8% to $23.90 after the studio's new film "Kung Fu Panda 3" missed expectations for its domestic box office opening. Meanwhile, Roper Technologies (ROP) and Cardinal Health (CAH) lost a respective 6.8% and 1.9% after reporting quarterly earnings. INDEXES: The Dow slipped 17.12, or 0.1%, to 16,449.18, the Nasdaq gained 6.41, or 0.14%, to 4,620.37, and the S&P 500 fell 0.86, or 0.04%, to 1,939.38.
12:48 EDTSYYOptions with increasing call volume
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12:13 EDTSYYOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday, but off their worst levels of the day, as oil is once again being weighed on by worries of slower growth in China. Several M&A announcements helped fuel speculation that deal-making may be set to pick up, but the headwinds of lower oil prices and weak economic data are outweighing that potential boost and keeping stocks in the red to start the month. ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in December, versus expectations for an increase of 0.2%, while spending was flat, versus expectations for an increase of 0.1%. Markit's manufacturing purchasing managers index for January dipped to 52.4 in the final January reading, down from the 52.7 flash reading and the below the 52.6 reading that was expected. The Institute for Supply Management's manufacturing index for January came in at 48.2, below the 48.4 that analysts expected. Construction spending rose 0.1% in December, which was weaker than the 0.6% increase that was forecast. In China, the statistics bureau's official manufacturing purchasing managers index fell to 49.4 in January from 49.7 in December. The private Caixin manufacturing PMI edged up to 48.4 from 48.2 in the prior reading, but both figures still remain in contraction territory. In Europe, Markit's manufacturing PMI for the euro zone dropped to 52.3 from December's 53.2, in-line with the earlier flash estimate. COMPANY NEWS: Shares of Twitter (TWTR) advanced 9% after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen have "considered some sort of deal" for the microblog service operator. Lessin noted in the report published on her site, The Information, that she did not know if deal talks are "active" now between Andreessen, Silver Lake and Twitter... Alere (ALR) surged 45% to $54 per share near midday after Abbott (ABT) agreed to acquire the company for $56 per share at a total expected equity value of $5.8B. In other Monday M&A news, Questar (STR) rose 22% after Dominion Resources (D) agreed to acquire it for $25 per share, or about $4.4B, and assume Questar's outstanding debt. Meanwhile, Stryker (SYK) announced a deal to acquire Sage Products for $2.775B in cash. The buyers' shares did not fare as well in the wake of the deal announcements, as Abbott slipped 0.5%, Dominion dipped 1% and Stryker fell 1%. Also lower were shares of Smith & Nephew (SNN), which slid fractionally as investors may have been concerned that Stryker's deal decreases the likelihood that it will come after S&N. Additionally, Smith & Nephew announced that its CEO Olivier Bohuon has been diagnosed with a "highly treatable" form of cancer. MAJOR MOVERS: Among the notable gainers was Lumber Liquidators (LL), which gained 8.5% after a judge accepted the company's $10M plea deal to settle timber source crime charges, according to media reports. Also higher was Chipotle (CMG), which rose 5.5% after The Wall Street Journal reported that the Centers for Disease Control and Prevention is expected to formally declare the end to its E.coli outbreak as soon as today. In addition, Sysco (SYY) and Aetna (AET) were up 7% and 2%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Nokia (NOK), which fell 12% after it forecasted how much revenue it expects to gain from its IP portfolio after its patent deal with Samsung (SSNLF) and its shares were downgraded at Canaccord and BofA Merrill Lynch. Also lower was GoPro (GPRO), which was slid 5% after analysts from Piper Jaffray and Citi predicted that the company's guidance to be issued this week will disappoint investors. In addition, Roper Technologies (ROP) and ImmunoGen (IMGN) were down 6.5% and 5.7%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 56.40, or 0.34%, to 16,409.90, the Nasdaq was down 12.25, or 0.27%, to 4,601.70, and the S&P 500 was down 6.51, or 0.34%, to 1,933.73.
10:50 EDTSYYSysco says capital allocation plans have not changed
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10:23 EDTSYYSysco says seeing 'strong' trends in restaurant traffic
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10:21 EDTSYYSysco sees deflation headwinds persisting for 'at least' remainder of FY
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10:08 EDTSYYHigh option volume stocks
High option volume stocks: NOK HLT NCLH DF GALE VMW DPS SYY SYMC PGR
08:08 EDTSYYSysco reports Q2 overall food cost deflation was 1.2%
In addition, sales from acquisitions completed within the last 12 months increased sales by 0.4%, and the impact of changes in foreign exchange rates decreased sales by 1.7%. Case volume for the Company's U.S. Broadline operations grew 3.9% during the quarter. Local case growth within U.S. Broadline operations grew 3.0%. Gross profit was $2.2 billion, an increase of 3.4% compared to the same period last year. Gross margin increased 50 basis points to 17.75%.
08:07 EDTSYYSysco reports Q2 adjusted EPS 48c, consensus 41c
Reports Q2 revenue $12.15B, consensus $12.14B
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