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Stock Market & Financial Investment News

News Breaks
November 14, 2012
16:34 EDTIAG, APO, TEA, FB, MWW, SNE, ANF, SBUXOn The Fly: Closing Wrap
Stocks on Wall Street were lower after a brief pop at the open quickly reversed into a day long sell-off that saw the averages close at their lows. With concerns about the fiscal cliff lingering, President Obama's news conference during the afternoon did little to help the market. Oil prices spiked as Israel launched a Gaza offensive and killed a Hamas commander, though stocks did not follow the commodity's path higher... ECONOMIC EVENTS: In the U.S., retail sales fell 0.3% in October, versus expectations for a decline of 0.2%. Producer prices fell 0.2% in the month, versus forecasts for them to have increased 0.2%. Excluding food and energy, the core reading fell 0.2%, versus the expected increase of 0.4%. Business inventories rose 0.7% in September, versus expectations for an increase of 0.6%. Minutes from the October meeting of the Federal Reserve showed many Fed members see the adoption of quantitative thresholds as helping, though the committee said a number of practical issues would need to be overcome before the thresholds could be instituted... COMPANY NEWS: Starbucks (SBUX) announced it was purchasing Teavana (TEA) for $620M, or $15.50 per share, in an all-cash transaction. Shares of Teavana, which were halted ahead of the announcement after the Atlanta Business Chronicle broke the news, advanced $5.32, or 52.52%, to $15.45. Shares of Starbucks settled down $1.47, or 2.92%, at $48.84... Bloomberg reported that Monster Worldwide (MWW) still has no bidders as TPG and Apollo Global (APO) passed on the company, and shares of Monster traded lower after the news, settling down 31c, or 4.97%, at $5.93... MAJOR MOVERS: Among the notable gainers was Abercrombie & Fitch (ANF), up $10.74, or 34.45%, to $41.92 after the company reported better than expected earnings, raised its full year EPS view, and the stock received at least five analyst upgrades. Also higher were shares of Facebook (FB), up $2.50, or 12.59%, to $22.36 in spite of the expiration of a lockup that permitted many investors and employees to sell their shares for the first time since the company's IPO. Among the noteworthy losers was IAMGOLD (IAG), down $2.89, or 19.45%, to $11.97 after the company reported quarterly results and production guidance that disappointed. Also lower were shares of Sony (SNE), down 95c, or 8.82%, to $9.82 after the company issued a large amount of bonds that may convert to stock under certain conditions... INDICES: The Dow lost 185.23, or 1.45%, to 12,570.95; the Nasdaq fell 37.08, or 1.29%, to 2,846.81; and the S&P 500 dropped 19.04, or 1.39%, to 1,355.49.
News For TEA;SBUX;MWW;APO;ANF;FB;IAG;SNE From The Last 14 Days
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November 13, 2014
06:45 EDTSNEMicrosoft Xbox sales tripled since price cut, CNet reports
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06:17 EDTSNESony unveils PlayStation Vue, a cloud-based TV service
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November 12, 2014
18:29 EDTAPOOn The Fly: After Hours Movers
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17:13 EDTIAGIAMGOLD narrows FY14 gold production guidance to 835K-850K ounces
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17:09 EDTIAGIAMGOLD reports Q3 adjusted EPS 0c, consensus 4c
Reports Q3 revenue $341.5M, consensus $324.58M.
16:47 EDTAPORexnord offers 14.73M shares of common stock for Apollo Global
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07:28 EDTAPOBofA/Merrill to hold a conference
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November 11, 2014
16:01 EDTFBOptions Update; November 11, 2014
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15:26 EDTFBYelp continues to gain traction in Local search, says Cowen
Cowen's checks indicate Yelp (YELP) continues to gain traction in Local search through Google (GOOGL) and Facebook (FB). The firm continues to see Yelp's Local ad revenue growing 60% in 2014 and believes the company will continue to beat numbers.
07:49 EDTANFBofA/Merrill retail and consumer analysts hold analyst/industry conference call
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November 10, 2014
17:08 EDTIAGIAMGOLD reduces executive team by 40%, takes further cost cutting measures
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12:53 EDTFBFacebook says has over 50M monthly active users for Messenger
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12:36 EDTANFAbercrombie, American Eagle sink after analyst downgrades
Shares of specialty teen apparel retailers Abercrombie & Fitch (ANF) and American Eagle Outfitters (AEO) are falling after a number of analysts issued negative notes on the companies. WHAT'S NEW: Oppenheimer analyst Anna Andreeva downgraded Abercrombie & Fitch to Perform from Outperform. The company's earnings outlook has become less clear as its U.S. brand has not yet become popular, and retail brand turnarounds usually take awhile, Oppenheimer analyst Anna Andreeva wrote in a note to investors. Additionally, Abercrombie's international business, which has deteriorated further this year, faces "mounting uncertainty,” the analyst stated. The analyst slashed her price target on the name to $30 from $50. Meanwhile, Barclays analyst Matthew McClintock downgraded American Eagle Outfitters to Equal Weight from Overweight. McClintock has become more pessimistic about the outlook for American Eagle's comparative store sales in the second half of 2014, given recent data points from a number of retailers, including Abercrombie & Fitch, Kohl's (KSS), Wal-Mart (WMT), J.C. Penney (JCP), and Ann Inc. (ANN). The analyst said he saw no reason why American Eagle should significantly outperform the overall apparel sector. McClintock cut his price target on the name to $11 from $15. Meanwhile, the analyst lowered his rating on the Softline Retail sector to Negative from Positive, as he believes that the sector, which includes companies that sell products like apparel, towels, and jewelry - is facing structural difficulties that are likely to persist for the next several years. Separately, research firm Janney Capital downgraded Abercrombie to Neutral from Buy in a note to investors today. PRICE ACTION: In early afternoon trading, Abercrombie & Fitch sank 3.5% to $28.50 and American Eagle dropped 4% to $12.40.
10:48 EDTFBFacebook enhances users' control over News Feeds
Facebook on Friday announced that News Feed settings will now show a list of the top people, Pages and Groups that users have seen in their News Feeds over the past week. Users can choose to sort by people, Pages or Groups posts, or see an overall summary., the social network said. They can unfollow any friend, Page or Group if they don’t want to see their stories in their News Feeds, Facebook added. Users can also see who they’ve unfollowed in the past and can choose to re-follow them at anytime, the company stated. If users see a story they're not interested in or don’t want to see, they can tap the arrow in the top right of that story to hide it, Facebook said. Reference Link
10:04 EDTANFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abercrombie & Fitch (ANF) downgraded at Oppenheimer... American Eagle (AEO) downgraded to Neutral from Buy at B. Riley... BP (BP) downgraded to Neutral from Overweight at JPMorgan... Callon Petroleum (CPE) downgraded to Neutral from Buy at SunTrust... EP Energy (EPE) downgraded to Hold from Buy at Deutsche Bank... Eaton Vance (EV) downgraded at Sterne Agee... Ecopetrol (EC) downgraded to Underperform from Sector Perform at RBC Capital... General Mills (GIS) downgraded to Sector Perform from Outperform at RBC Capital... Genworth (GNW) downgraded to Market Perform from Outperform at Keefe Bruyette... MasTec (MTZ) downgraded to Hold from Buy at BB&T... Ocean Rig UDW (ORIG) downgraded to Neutral from Buy at Guggenheim... Performant Financial (PFMT) downgraded at Morgan Stanley... Petrobras (PBR) downgraded to Market Perform from Outperform at Cowen... R.R. Donnelley (RRD) downgraded to Hold from Buy at Benchmark Co.... Rex Energy (REXX) downgraded to Market Perform from Outperform at BMO Capital... Salix (SLXP) downgraded to Neutral from Buy at Mizuho... Siemens (SIEGY) downgraded to Neutral from Overweight at JPMorgan... Solazyme (SZYM) downgraded to Equal Weight from Overweight at Morgan Stanley... Stonegate Mortgage (SGM) downgraded to Market Perform at FBR Capital... Syngenta (SYT) downgraded to Neutral from Overweight at HSBC... ViaSat (VSAT) downgraded to Hold from Buy at Needham... Vistaprint (VPRT) downgraded to Neutral from Buy at SunTrust... Walter Investment (WAC) downgraded at Sterne Agee... WesBanco (WSBC) downgraded to Market Perform from Outperform at Keefe Bruyette... Whiting USA Trust II (WHZ) downgraded to Underperform at Raymond James... Wipro (WIT) downgraded to Sell from Buy at UBS... XOMA (XOMA) downgraded to Neutral from Buy at Ladenburg... Yanzhou Coal (YZC) downgraded to Sell from Hold at Deutsche Bank.
09:35 EDTFBActive equity options trading
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07:50 EDTANFAbercrombie & Fitch downgraded at Oppenheimer
As noted earlier, Oppenheimer downgraded to Abercrombie & Fitch Perform from Outperform. The firm downgraded the stock, citing lack of visibility, following the company's negative preannouncement. Target to $30 from $50.
06:34 EDTANFAbercrombie & Fitch downgraded to Neutral from Buy at Janney Capital
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05:48 EDTANFU.S. Retail Softlines industry cut to Negative at Barclays
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05:40 EDTANFAbercrombie & Fitch downgraded to Perform from Outperform at Oppenheimer
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