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Stock Market & Financial Investment News

News Breaks
April 1, 2012
09:47 EDTHITK, M, IBM, DLTR, BKI, BCE, TGI, CVX, RGRJames Investment Research targets stocks in favored industries, Barron's says
James Investment Research's James Balanced: Golden Rainbow Fund (GLRBX) has been attracting serious attention, having more than doubling its assets to $1.5B since 2009. Part of the reason is that investors, in a cautious mood, have been seeking out balanced funds, says Frank James, founder and chairman of the 37-year-old firm and lead manager of the Golden Rainbow fund. The firm then targets stocks within favored industries. Over the past decade, the fund has consistently lost less than its category peers in down markets, and has done so with less volatility. The fund's top 10 holdings: Triumph Group (TGI), Dollar Tree (DLTR), Hi-Tech Pharmacal (HITK), BCE (BCE), International Business Machines (IBM), Sturm Ruger (RGR), Buckeye Technologies (BKI), Macy’s (M) and Chevron (CVX). Reference Link
News For TGI;DLTR;HITK;BCE;IBM;RGR;BKI;M;CVX From The Last 14 Days
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April 15, 2014
17:55 EDTHITKRepligen to replace Hi-Tech Pharmacal in S&P 600 as of 4/17
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11:23 EDTIBMInfosys falls after quarterly revenue trails estimates
Shares of Infosys (INFY), which consults on business information technology and systems integration, are falling after the company's fourth quarter revenue trailed analysts' consensus estimate. WHAT'S NEW: This morning, Infosys reported fourth quarter earnings per share of 85c and revenue of $2.09B, compared to expectations of 79c and $2.11B, respectively. The company's CEO and Managing Director, S. D. Shibulal, said he was pleased that Infosys was able to double its growth rate for the full year compared to last year, though added that its performance in the last quarter of of the fiscal year had been "disappointing." The company noted that Infosys and its subsidiaries added 50 clients during the quarter and 238 during the year. Infosys forecast FY15 revenue growth of 7%-9%, compared to consensus of $9.06B. WHAT'S NOTABLE: Infosys said its board had decided to increase the dividend pay-out ratio to up to 40% of post-tax profits effective FY14. Infosys' current policy is to pay dividends up to 30% of post-tax profits. OTHERS TO WATCH: Like Infosys, Wipro (WIT) is an IT services and software solution consultant headquartered in India. Others in the business consulting space include Cognizant Technology (CTSH), IBM (IBM) and Accenture (ACN). PRICE ACTION: In late morning trading, Infosys fell $3.49, or about 6.3%, to $52.09 on nearly twice its average daily trading volume. Shares of Cognizant were down about 0.75% to $48.12, while Wipro was up about 2.6% to $13.56.
10:00 EDTIBMOn The Fly: Analyst Downgrade Summary
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08:06 EDTIBMIBM April volatility elevated at 55 into Q1
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06:54 EDTIBMIBM downgraded to Neutral from Buy at Citigroup
Citigroup downgraded its rating on IBM to Neutral from Buy citing valuation and lowered its price target for shares to $200 from $235.
06:06 EDTIBMIBM establishes new Big Data & Business Analytics Center of Competence in Greece
IBM has announced that it will establish a new Big Data and Business Analytics Center of Competence in Athens, Greece advancing its ability to deliver Big Data and Business Analytics technical and consulting capabilities in the region, drawing on an emerging generation of highly skilled local expertise. The new center will help companies to better leverage analytics and cognitive computing capabilities, improving business operations and enhancing their competitiveness in the global marketplace.
April 14, 2014
19:01 EDTHITKAkorn gets FTC clearance for Hi-Tech Pharmacal deal
Akorn (AKRX) announced that the U.S. FTC has voted to approve Akorn’s acquisition of Hi-Tech Pharmacal (HITK). The unanimous vote in support of the transactions follows Akorn’s agreement to a proposed consent order requiring divestiture of certain products as a condition to obtaining FTC approval. The parties have now obtained all regulatory approvals required to consummate the acquisition, and intend to close by the end of this week.
07:06 EDTIBMU.S. Geospatial Intelligence Foundation to hold a symposium
GEOINT 2013 Symposium, originally scheduled for October 2013, is being held in Tampa, Florida on April 14-17.
April 13, 2014
19:59 EDTIBMImperva faces competition from firms like IBM, F5 Networks, Bloomberg says
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April 11, 2014
09:19 EDTMMacy's management to meet with JPMorgan
Meetings to be held in Boston on April 15-16 hosted by JPMorgan.
07:57 EDTIBMIBM April volatility elevated at 37 into Q1
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April 10, 2014
14:24 EDTIBMAmazon Web Services CTO says ARM CPUs may be considered, The Register says
Amazon (AMZN) Web Services chief technology officer Werner told The Register that the company is “always looking for efficiency” and may consider using ARM (ARMH) CPUs in the future. Vogels said another processor architecture AWS has considered is IBM's (IBM) Power, the report noted. Reference Link
13:14 EDTDLTRFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
12:46 EDTCVXChevron management to meet with Jefferies
Meetings to be held in London on April 16-17 hosted by Jefferies.
10:00 EDTIBMOn The Fly: Analyst Initiation Summary
Apple (AAPL) initiated with a Buy at Deutsche Bank... Crocs (CROX) initiated with a Buy at Buckingham... Deckers Outdoor (DECK) initiated with a Buy at Buckingham... EMC (EMC) initiated with a Buy at Deutsche Bank... HP (HPQ) initiated with a Buy at Deutsche Bank... IBM (IBM) initiated with a Hold at Deutsche Bank... NeoPhotonics (NPTN) coverage resumed with a Market Perform at Raymond James... NetApp (NTAP) initiated with a Hold at Deutsche Bank... Nutrisystem (NTRI) initiated with a Buy at B. Riley... Questar (STR) initiated with an Underperform at BofA/Merrill... S&T Bancorp (STBA) initiated with an Outperform at Raymond James... STB Systems Inc (STBI) initiated with an Outperform at Raymond James... Skechers (SKX) initiated with an Underperform at Buckingham... Steven Madden (SHOO) initiated with a Buy at Buckingham... UGI Corporation (UGI) initiated with a Buy at BofA/Merrill... Web.com (WWWW) initiated with a Neutral at Buckingham... Ally Financial (ALLY) initiated with a Buy at BTIG... Visteon (VC) initiated with a Buy at Citigroup... Greatbatch (GB) initiated with a Buy at KeyBanc... Steris (STE) initiated with a Buy at KeyBanc... Cooper Companies (COO) initiated with a Hold at KeyBanc... Hill-Rom (HRC) initiated with a Hold at KeyBanc... Invacare (IVC) initiated with a Hold at KeyBanc... Teleflex (TFX) initiated with a Hold at KeyBanc... Provident Financial (PROV) initiated with a Market Perform at Keefe Bruyette... UMH Properties (UMH) initiated with a Hold at Wunderlich.
09:37 EDTCVXActive equity options trading on open
Active equity options trading on open according to Track Data: SIRI RAD AAPL AMZN AA FB TSLA MRK CVX C
09:06 EDTIBMIBM to acquire Atlanta-based software company Silverpop
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09:02 EDTCVXChevron, YPF continue development of Vaca Muerta Shale in Argentina
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08:44 EDTIBMCLSA technology analysts hold an analyst/industry conference call
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06:55 EDTIBMIBM initiated with a Hold at Deutsche Bank
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