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News Breaks
February 24, 2012
10:30 EDTMAR, CRM, CLP, CCG, UA, CRUS, PG, CPT, AVB, BAX, TGT, HCCI, PPS, GBOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Target (TGT) upgraded to Buy from Hold at Jefferies...Cirrus Logic (CRUS) upgraded to Outperform from Perform at Oppenheimer...Marriott (MAR) upgraded to Conviction Buy from Buy at Goldman...Baxter (BAX) upgraded to Neutral from Sell at Citigroup...Under Armour (UA) upgraded to Overweight from Equal Weight at Morgan Stanley...Greatbatch (GB) upgraded to Neutral from Underweight at Piper Jaffray...AvalonBay (AVB) upgraded to Outperform from Underperform at Credit Suisse...Campus Crest (CCG) upgraded to Buy from Neutral at Janney Capital...Post Properties (PPS) upgraded to Buy from Neutral at UBS...Camden Property (CPT) upgraded to Buy from Neutral at UBS...Colonial Properties (CLP) upgraded to Buy from Neutral at UBS...Heritage-Crystal Clean (HCCI) upgraded to Buy from Hold at Needham...Procter & Gamble (PG) upgraded to Buy from Neutral at Buckingham...Salesforce.com (CRM) upgraded to Buy from Hold at ThinkEquity.
News For TGT;CRUS;MAR;BAX;UA;GB;AVB;CCG;PPS;CPT;CLP;HCCI;PG;CRM From The Last 14 Days
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February 19, 2015
10:31 EDTMARMarriott sells Miami Beach EDITION for $230M in cash proceeds
Marriott announced it has sold The Miami Beach EDITION hotel for cash proceeds of $230M. The sale is the second in a series of three anticipated sales of Marriott-owned EDITION hotels to companies ultimately owned by the Abu Dhabi Investment Authority. The agreement with ADIA for the sale of these three EDITION hotels was announced when the first, The London EDITION, was sold to ADIA in January 2014. Marriott expects to sell the third, The New York EDITION to ADIA in the first quarter of 2015. Marriott noted that it retains the long-term management agreement for the hotel.
10:27 EDTMARMarriott says 'bullish' about demand trends in North America
Says "very optimistic" about long-term. Sees Q1 group revenue pace for company operated full service hotels up 6%, FY group pace up 5%. Sees special corporate room rates from continuing accounts up 5%-6% in 2015. Says "bullish" about demand trends in North America. Says strong dollar may discourage international travel, but doesn't see this as significant headwind to North America operations. Says Brazil trends likely to remain weak, but "bullish" about long-term growth potential. Sees FY15 fee revenue up 9%-11%, incentive fees up in a low double digit rate. Expects fee revenue to be constrained by unfavorable forex. Sees total fee revenue reduced by forex by $15M-$20M in FY15. Sees cash returned to shareholders in 2015 at least as much as 2014. Sees Q1 fee revenue up at mid teens rate. Comments made on the Q4 earnings conference call.
09:41 EDTGBGreatbatch initiated with a Buy at Sidoti
Target $67.
09:37 EDTPGProcter & Gamble sese core EPS 'meaningfully' improving in 2H
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09:21 EDTPGProcter & Gamble repeats FY15 currency neutral core EPS growth view
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09:12 EDTMAROn The Fly: Pre-market Movers
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February 18, 2015
18:55 EDTMAROn The Fly: After Hours Movers
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16:36 EDTMARMarriott sees FY15 EPS $3.00-$3.12, consensus $3.03
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16:34 EDTMARMarriott sees Q1 EPS 68c-72c, consensus 66c
For Q1, the company expects comparable systemwide RevPAR on a constant dollar basis will increase 5 to 7% in North America, 4 to 6% outside North America and 5 to 7% worldwide.
16:33 EDTMARMarriott reports Q4 EPS 68c, consensus 65c
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15:35 EDTMARNotable companies reporting after market close
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09:10 EDTMARMarriott volatility increases into Q4 results and outlook
Marriott overall option implied volatility of 25 is near its 26-week average of 23 according to Track Data, suggesting non-directional price movement into the expected release of Q4 on February 19.
07:53 EDTCRMSalesforce.com Q4 closed well, says Oppenheimer
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February 17, 2015
18:36 EDTCCGCampus Crest responds to Clinton Group, Campus Evolution Villages
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10:00 EDTCCGOn The Fly: Analyst Upgrade Summary
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09:20 EDTCCGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vipshop Holdings (VIPS), up 10.9%... VASCO Data Security (VDSI), up 7.1%... Waste Management (WM), up 3.7%. ALSO HIGHER: Starwood Hotels (HOT), up 1.9% after appointing Adam Aron as interim CEO... Sarepta Therapeutics (SRPT), up 7.3% after being upgraded at BofA/Merrill... Navidea Biopharmaceuticals (NAVB), up 7.5% after publishing results of phase 3 Lymphoseek trial... Campus Crest (CCG), up 7.7% after announcing that it will explore strategic alternatives as well as Clinton Group and Campus Evolution proxy contest... Cyren (CYRN), up 7.1% following distribution agreement with ALSO Deutschland. DOWN AFTER EARNINGS: Helix Energy (HLX), down 13.3%... Walter Energy (WLT), down 10.1%. ALSO LOWER: Celsus Therapeutics (CLTX), down 82.3% after MRX-6 Cream 2% Phase II trial did not meet primary endpoint... Vascular Biogenics (VBLT), down 53.2% after reporting that VB-201 Phase 2 studies did not meet primary endpoints and removal of FDA partial clinical hold on VB-111... Vanguard Natural Resources (VNR), down 7.1% after reporting preliminary fourth quarter results.
09:12 EDTCCGClinton Group, Campus Evolution announce proxy contest at Campus Crest
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07:15 EDTPGConsumer Analyst Group of New York (CAGNY) to hold a conference
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06:09 EDTCCGCampus Crest upgraded to Buy from Hold at Wunderlich
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February 16, 2015
18:25 EDTCCGCampus Crest to explore strategic alternatives after receiving inquiries
Campus Crest Communities announced that its board authorized the company to explore a range of strategic, operational and financial alternatives to further enhance shareholder value. Additionally, the board appointed Aaron Halfacre, CCG's Chief Investment Officer, to the role of President. In his new role, Halfacre will continue to oversee day-to-day management of the company's strategic repositioning and aid the board in the evaluation of potential strategic alternatives. Campus Crest said it has recently received multiple inquiries from a number of qualified parties that expressed interest in discussing a potential transaction. Moelis & Company and Kilpatrick Townsend & Stockton, the company's financial and legal advisors, respectively, are assisting Campus Crest in an analysis of all potential alternatives. The advisors have been working with Campus Crest since the start of the company's strategic repositioning in 2014. The company has not set a definitive timetable for completion of the process and does not intend to disclose further developments until its board approves a specific action or otherwise concludes the review of the strategic alternatives.
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