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Stock Market & Financial Investment News

News Breaks
August 20, 2014
12:37 EDTSFLY, IRF, HTZ, LOW, IFNNY, TGTOn The Fly: Midday Wrap
The market opened in negative territory, but within striking distance of the flat line. There was little in the way of major news that investors could use to push the market higher as they moved to the sidelines ahead of this afternoon’s release of the minutes of last month’s FOMC meeting. After spending most of the morning mixed, the each of the major equity averages has crossed into positive territory, albeit just barely. The Fed’s minutes will be released at 2:00 pm ET. ECONOMIC EVENTS: The Mortgage Bankers' Association Purchase Applications showed a week-over-week drop of -0.4% in the purchase index, but a 3% rise in the refinance index... The EIA Petroleum Status Report showed a 4.5M draw in oil inventories to 362.5M barrels during last week. COMPANY NEWS: Target (TGT) reported Q2 earnings that missed on the bottom line by 1c but beat slightly on the top line, and the company cut its FY14 EPS view to $3.10-$3.30 from $3.60-$3.90. Target is trading up over 1% in midday trading... Lowe's (LOW) reported better-than-expected Q2 earnings and said it sees FY14 EPS approximately $2.63, above the consensus of $2.61. Lowe's is trading up fractionally. MAJOR MOVERS: International Rectifier (IRF) is up 47% after being acquired by Infineon (IFNNY) for $40 per share in cash... Hertz (HTZ) is down more than 9% after the company withdrew its FY14 guidance, saying it expects to be "well below" the low end of the guidance... Shutterfly (SFLY) is up over 3% after Bloomberg reported that private equity firms are bidding on the company. INDEXES: Near midday, the Dow was up 33.38, or 0.2%, to 16,952.97, the Nasdaq was up 0.55, or 0.01%, to 4,528.07, and the S&P 500 was up 1.99, or 0.1%, to 1,983.59.
News For TGT;LOW;IRF;IFNNY;HTZ;SFLY From The Last 14 Days
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December 17, 2014
17:12 EDTHTZCarl Icahn raises stake in Hertz to 11.34% from 10.77%
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December 16, 2014
11:40 EDTSFLYGrubHub advances after Goldman ups to Buy
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10:03 EDTTGTTarget initiated with an Outperform at Cowen
Target $85.
09:59 EDTLOWOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: BB&T (BBT) initiated with a Neutral at Guggenheim... Bank of America (BAC) initiated with a Buy at Guggenheim... Ciena (CIEN) initiated with a Neutral at Wedbush... Cimarex Energy (XEC) initiated with a Perform at Oppenheimer... Citigroup (C) initiated with a Neutral at Guggenheim... Extended Stay America (STAY) initiated with a Market Perform at JMP Securities... Infinera (INFN) initiated with a Neutral at Wedbush... JPMorgan (JPM) initiated with a Neutral at Guggenheim... Morgan Stanley (MS) initiated with a Buy at Guggenheim... Newfield Exploration (NFX) initiated with an Outperform at Oppenheimer... Nike (NKE) initiated with a Market Perform at Cowen... PNC Financial (PNC) initiated with a Neutral at Guggenheim... Peak Resorts (SKIS) initiated with an Outperform at FBR Capital... Peak Resorts initiated with an Outperform at Oppenheimer... Ralph Lauren (RL) initiated with an Outperform at Cowen... U.S. Bancorp (USB) initiated with a Neutral at Guggenheim... Under Armour (UA) initiated with an Outperform at Cowen... Wells Fargo (WFC) initiated with a Neutral at Guggenheim... Whiting Petroleum (WLL) initiated with an Outperform at Oppenheimer... Lowe's (LOW) initiated with a Neutral at Nomura... Home Depot (HD) initiated with a Neutral at Nomura... Estee Lauder (EL) initiated with a Buy at KeyBanc... Huntsman (HUN) initiated with a Buy at Nomura... Dow Chemical (DOW) initiated with a Buy at Nomura.
09:59 EDTSFLYOn The Fly: Analyst Downgrade Summary
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09:17 EDTSFLYInternet sector upgraded to Attractive from Neutral at Goldman
Goldman upgraded the Americas Internet sector to Attractive to Neutral based on more reasonable valuations, reduced expectations, and strong sector growth. As part of the sector change, the firm upgraded GrubHub (GRUB) to Buy from Neutral, downgraded Shutterfly (SFLY) to Neutral from Buy, and lowered Priceline (PCLN) to Buy from Conviction Buy.
07:05 EDTLOWLowe's initiated with a Neutral at Nomura
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06:22 EDTSFLYShutterfly downgraded to Neutral from Buy at Goldman
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December 15, 2014
05:48 EDTIFNNYInfineon, United Microelectronics announce manufacturing agreement
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December 12, 2014
08:20 EDTLOWLowe's price target raised to $75 from $70 at RW Baird
Baird raised its price target on Lowe's to $75 from $70 following its analyst day to reflect the company's increasingly synchronized internal and external organization. The firm noted the company delivered a three year outlook which included upside to Street estimates next year. Baird reiterated its Outperform rating on Lowe's shares.
07:48 EDTLOWLowe's analyst day supports investment case, says UBS
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07:35 EDTLOWLowe's outlook has improved, says Oppenheimer
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07:25 EDTLOWLowe's price target raised to $76 from $70 at JPMorgan
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December 11, 2014
10:28 EDTLOWLowe's says business is "sound," brand "strong"
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06:09 EDTLOWLowe's CEO sees Return on Invested Capital reaching 19% by 2017
Robert A. Niblock, Lowe's chairman, president and CEO stated, "The housing market and broader economy are recovering just as our transformation is gaining momentum." Robert F. Hull, Jr., Lowe's CFO, commented, "We continue to generate solid cash flow and have exciting opportunities ahead of us. Return on Invested Capital is expected to reach approximately 19% by 2017, an increase of almost 500 basis points over the next three years."
06:05 EDTLOWLowe's sees FY14 EPS about $2.68, consensus $2.67
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December 10, 2014
08:03 EDTHTZHertz expands across Europe with more than 80 branches in 2014
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December 9, 2014
10:48 EDTLOWLowe's volatility elevated into analyst and investor meeting
Lowe's December call option implied volatility is at 24, January is at 19, April is at 20; compared to its 26-week average of 21 according to Track Data, suggesting large near term price movement into a company hosted analyst and investor meeting to be held on December 11.
December 8, 2014
12:04 EDTLOWLowe's to host analyst and investor meeting
Analyst and Investor Meeting to be held on December 11 at 10 am. Webcast Link
December 5, 2014
10:18 EDTHTZAvis Budget and Hertz November data positive, says MKM Partners
MKM Partners said Manheim data for November was 123.3, above expectations and October's reading of 12.8. The firm said Manheim and other data is supportive of positive trends in the car rental industry.
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