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Stock Market & Financial Investment News

News Breaks
May 21, 2014
12:38 EDTTGT, TIF, PETM, AEO, PHH, BAH, OGZPYOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, with the Dow's triple digit gain recapturing most of what had been lost by the blue chip index yesterday. Stock futures improved during pre-market trading, leading to a positive open for the broader market, but the averages have moved in a narrow range since the opening half hour of trading. Investors now await the release of the minutes from the Fed's last rate-setting meeting to see if there was any change in the language surrounding itís monetary policy. ECONOMIC EVENTS: In the U.S., the Federal Reserve will release the minutes from its April FOMC meeting at 2 pm ET. In Asia, the Bank of Japan left its policies unchanged, as was widely expected, but its outlook on capital spending was upgraded. Also, central bank head Haruhiko Kuroda signaled he wasn't preparing further monetary easing soon and reiterated his optimism that Japan is on track to meet the bank's 2% inflation target. Also, China and Russia's Gazprom (OGZPY) signed a natural gas contract said to be worth a total of $400B over the 30-year life of the agreement. COMPANY NEWS: Shares of Target (TGT) were marginally lower near noon after the retailer reported slightly lower than expected adjusted earnings for its first quarter and lowered its adjusted profits outlook for the fiscal year. The company said that while it was pleased with its "continued recovery" from its well-publicized data breach, that its needs to "move more quickly" and is investing additional resources to drive U.S. traffic and sales, resulting in its lowered earnings expectations. MAJOR MOVERS: Among the notable gainers was luxury retailer Tiffany (TIF), which climbed 8.5% after the company reported significantly stronger than expected results and raised its full-year profit guidance. Also higher was PHH Corp. (PHH), which rose more than 16% after Reuters said a Canadian equipment finance company is in exclusive talks to buy PHH's fleet leasing business for about $1.35B in cash. Among the noteworthy losers was pet products and services supplier PetSmart (PETM), whose shares sunk over 7.5% after the company reported mixed first quarter results and issued a weaker than expected profit outlook. Also lower following their earnings reports were government consultant Booz Allen Hamilton (BAH), which fell 10%, and apparel retailer American Eagle Outfitters (AEO), which dropped more than 5%. INDEXES: Near midday, the Dow was up 134.02, or 0.82%, to 16,508.33, the Nasdaq was up 21.40, or 0.52%, to 4,118.29, and the S&P 500 was up 10.56, or 0.56%, to 1,883.39.
News For TGT;TIF;PETM;AEO;PHH;BAH;OGZPY From The Last 14 Days
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September 18, 2014
11:01 EDTTGTTarget to hire 70,000 seasonal workers in 2014, CNBC reports
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10:57 EDTAEOU.S. ITC to investigate 17 denim jean companies for patent infringement
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September 16, 2014
16:29 EDTAEOAmerican Eagle assumed with a Neutral at Piper Jaffray
Target $13.
09:59 EDTAEOOn The Fly: Analyst Upgrade Summary
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09:25 EDTAEOOn The Fly: Pre-market Movers
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07:09 EDTAEOAmerican Eagle upgraded to Overweight from Equal Weight at Stephens
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September 15, 2014
18:25 EDTTIFTiffany CEO sells $5.46M shares, Barron's says
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09:59 EDTTGTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Realty (ARCP) initiated with an Overweight at JPMorgan... Athlon Energy (ATHL) initiated with a Buy at KLR Group... Capital Product (CPLP) initiated with a Buy at Jefferies... Continental Resources (CLR) initiated with a Buy at Canaccord... Costco (COST) initiated with a Buy at Citigroup... Infinera (INFN) initiated with an Outperform at Barrington... NRG Yield (NYLD) initiated with an Outperform at RBC Capital... PTC Therapeutics (PTCT) initiated with a Buy at Deutsche Bank... Power Solutions (PSIX) initiated with an Outperform at Northland... ServiceNow (NOW) initiated with an Outperform at William Blair... Target (TGT) initiated with a Neutral at Citigroup... Team (TISI) initiated with a Neutral at Sidoti... VeriFone (PAY) initiated with a Buy at Monness Crespi... Wal-Mart (WMT) initiated with a Neutral at Citigroup... Whiting Petroleum (WLL) initiated with a Buy at Canaccord... Winnebago (WGO) initiated with an Outperform at BMO Capital.
09:59 EDTBAHOn The Fly: Analyst Upgrade Summary
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08:10 EDTBAHBooz Allen upgraded to Outperform at Cowen
As reported previously, Cowen upgraded Booz Allen to Outperform from Market Perform as they believe the company is approaching a revenue and earnings upturn. The firm sees the upturn bolstered by upward pressure on intelligence spending due to the recent ISIS activity, as well as margin upside, and its lack of pension exposure. Cowen raised its price target on Booz Allen to $28 from $25.
06:55 EDTBAHBooz Allen upgraded to Outperform from Market Perform at Cowen
06:11 EDTTGTTarget initiated with a Neutral at Citigroup
Citigroup started shares of Target with a Neutral rating saying the risk/reward is fair with valuation at three year highs. Citi believes Target is taking the right steps to improve execution and set a $66 price target for the stock.
September 12, 2014
17:44 EDTBAHBAE Systems, others collectively awarded $5.04B government contract
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September 11, 2014
09:39 EDTTIFTiffany management to meet with Topeka
Meeting to be held in Boston on September 16 hosted by Topeka.
September 10, 2014
10:00 EDTTIFOn The Fly: Analyst Downgrade Summary
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08:51 EDTTIFTiffany downgraded at Credit Suisse
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06:19 EDTTIFTiffany downgraded to Neutral from Outperform at Credit Suisse
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September 9, 2014
16:15 EDTTGTTarget CEO to narrow focus to re-energize 'signature' categories, WSJ says
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13:58 EDTTGTStarbucks, Groupon, OpenTable apps among those to integrate Apple Pay
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September 8, 2014
12:29 EDTTGTHome Depot victim of same malware that hit Target, Krebs reports
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