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Stock Market & Financial Investment News

News Breaks
February 27, 2013
12:28 EDTTGT, TJX, DLTR, ZGNX, AH, CBB, FSLROn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday amid some more encouraging housing data and continued testimony from Fed Chairman Bernanke. The averages began the session in negative territory but almost immediately began to pare their losses. Within the first 30 minutes of trading the market crossed back into positive territory, then continued to advance after the pending home sales data surprised Wall Street with a better than expected move up compared to both the prior month and prior year... ECONOMIC EVENTS: In the U.S., durable goods orders fell 5.2% in January, versus the expected decline of 4.8%. When transportation items are removed from the data, orders were up 1.9%, versus an expected increase of 0.2%. Pending home sales increased 4.5% in January from the prior month, versus an expected increase of 1.9%... COMPANY NEWS: As retailers continue their turn during the nearly finished earnings season, two prominent ones saw their shares move in opposite directions following their quarterly reports. Target (TGT) shares slid about 1% in spite of headline adjusted earnings that were better than expected, while TJX (TJX) rose about over 1% following its report and planned dividend increase... MAJOR MOVERS: Among the notable gainers were Dollar Tree (DLTR), up over 12% following its earnings report, and Zogenix (ZGNX), which rose 35% after Street analysts said the FDA's decision to delay its decision on one of the company's drugs could be a positive. Among the noteworthy losers was Accretive Health (AH), which dropped 25% and was downgraded at Dougherty following its Q4 earnings postponement due to an accounting review. Also lower were shares of Cincinnati Bell (CBB), down 23%, and First Solar (FSLR), down over 14% following their earnings reports... INDICES: Near noon, the Dow was up 115.27, or 0.83%, to 14,015.40; the Nasdaq was up 36.16, or 1.16%, to 3,165.81; and the S&P 500 was up 14.79, or 0.99%, to 1,511.73.
News For TGT;TJX;DLTR;ZGNX;AH;CBB;FSLR From The Last 14 Days
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July 23, 2014
16:56 EDTZGNXZogenix competitor gets FDA approval for abuse-deterrent ER oxycodone
The FDA approved Targiniq ER, an extended-release/long-acting opioid analgesic to treat pain severe enough to require daily, around-the-clock, long-term opioid treatment and for which alternative treatment options are inadequate. Targiniq ER is the second ER/LA opioid analgesic with FDA-approved labeling describing the product’s abuse-deterrent properties consistent with the FDA’s 2013 draft guidance for industry, the FDA stated. The FDA is requiring postmarketing studies of Targiniq ER, to assess the serious risks of misuse, abuse, increased sensitivity to pain, addiction, overdose, and death associated with long term use beyond 12 weeks. The FDA is also requiring postmarketing studies to further assess the effects of the abuse-deterrent features on the risk for abuse of Targiniq ER. In addition, Targiniq ER is part of the ER/LA Opioid Analgesics Risk Evaluation and Mitigation Strategy. Targiniq ER is manufactured by Purdue Pharma. Zogenix has a competing pain killer drug called Zohydro ER.
09:39 EDTTJXTJX upgraded at Northcoast
As previously reported, Northcoast upgraded TJX to Buy from Neutral. The firm upgraded shares due valuation, long-term growth potential and expectations for comp acceleration. Price target is $62.
09:32 EDTTJXTJX upgraded to Buy from Neutral at Northcoast
July 22, 2014
07:36 EDTFSLRFirst Solar shares dramatically undervalued, says Brean Capital
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July 18, 2014
18:12 EDTTGTVisa, MasterCard denied bid to dismiss opt-out swipe fee suits, Bloomberg says
Merchants that opted out of the swipe-fee settlement brought their own suits, which Visa (V) and MasterCard (MA) were not approved to dismiss, Bloomberg reports. Merchants such as Target (TGT) and Macy’s (M) pursued their cases after dropping out of an earlier settlement over swipe fees, Bloomberg added. Reference Link
12:48 EDTFSLRSolar stocks rise after successful IPO in space
Shares of solar energy companies are rising after a solar energy company's subsidiary surged on its first day of trading. WHAT'S NEW: The shares of SunEdison (SUNE) subsidiary TerraForm (TERP) are surging 36% in early afternoon trading. TerraForm Power opened at $33.26 and was trading near $34 per share at midday, after its initial public offering priced at $25 per share. TerraForm was formed to own and operate assets that generate clean power and the company plans to pay dividends. In a note to investors yesterday, Josh Baribeau, an analyst at Canaccord Genuity, wrote that TerraForm is a Yieldco. Subsidiaries of energy companies that own power plants and projects, Yieldcos typically trade on stock exchanges. Noting that TerraForm's IPO had priced at the high end of its expected range yesterday and was well oversubscribed, Baribeau wrote that this outcome reflects the strong demand for Yieldcos among investors. The Yieldcos provide investors with yield which is in high demand in today's low interest rate environment, the analyst stated. Additionally, as a result of the strong demand for Yieldcos' stocks, they provide their parent companies with "cheap and abundant capital," the analyst stated. SunEdison and TerraForm will grow their combined cash available for distributions at a faster rate than their target of 15% over the next three years, helping SunEdison's stock rise, the analyst stated. He kept a $30 price target and Buy rating on SunEdison. WHAT'S NOTABLE: A number of solar energy companies that own solar projects could form Yieldcos, research firm Trefis wrote in a Forbes column last month. Like Canaccord's Baribeau, Trefis believes that Yieldcos provide their parent companies with a cheap source of funding. Yieldcos also distribute most of their cash through dividends, Trefis stated. The firm named First Solar (FSLR) and SunPower (SPWR) as companies that could launch their own Yieldcos. PRICE ACTION: In early afternoon trading, Terraform jumped 36% to $34 and SunEdison was down 1% to $22.76. Meanwhile, First Solar rose 1.4% to $62.29, SunPower climbed 2.7% to $38.71, JinkoSolar gained 2.8% to $26.75, and Canadian Solar (CSIQ) advanced 3% to $28.71.
July 15, 2014
07:04 EDTFSLRWTO says U.S. tariffs on Chinese solar cells against rules, Xinhua reports
The World Trade Organization yesterday ruled that U.S. tariffs on Chinese solar cells violated the rules of the organization, according to Xinhua. China requested that the WTO probe the subsidies in 2012, the news service noted. The WTO also said that U.S. tariffs on Chinese steel products and paper violated the organization's rules, the news service added. Publicly traded solar energy companies include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE).Reference Link
July 14, 2014
11:16 EDTFSLRWTO finds U.S. violates trade rules with tariffs on Chinese steel, solar panels
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08:36 EDTZGNXZogenix announces patent for DosePro Needle-free Delivery System
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July 13, 2014
15:54 EDTTJX, TGTGameStop, TJX, Staples, three other retailers look cheap, Barron's says
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July 11, 2014
14:12 EDTFSLRFirst Solar abandons huge China project, Bloomberg reports
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July 10, 2014
10:05 EDTCBBOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AuRico Gold (AUQ) downgraded to Hold from Buy at Canaccord... Cincinnati Bell (CBB) downgraded to Underperform from Neutral at BofA/Merrill... Eldorado Gold (EGO) downgraded to Hold from Buy at Canaccord... Fortuna Silver Mines (FSM) downgraded to Hold from Buy at Canaccord... Gerdau (GGB) downgraded to Neutral from Overweight at JPMorgan... Hi-Crush Partners (HCLP) downgraded to Neutral from Buy at Ladenburg... Ingredion (INGR) downgraded to Equal Weight from Overweight at Stephens... Investors Bancorp (ISBC) downgraded to Neutral from Buy at Guggenheim... Lumber Liquidators (LL) downgraded to Hold from Buy at Jefferies... Mid-America Apartment (MAA) downgraded to Underweight at Morgan Stanley... Northern Tier (NTI) downgraded to Neutral from Outperform at Macquarie... S&T Bancorp (STBA) downgraded to Neutral from Buy at Guggenheim... T. Rowe Price (TROW) downgraded to Equal-Weight from Overweight at Evercore... Tahoe Resources (TAHO) downgraded to Hold from Buy at Canaccord... Tractor Supply (TSCO) downgraded to Market Perform from Outperform at William Blair... UnitedHealth (UNH) downgraded to Hold from Buy at Jefferies... Waddell & Reed (WDR) downgraded to Neutral from Buy at Citigroup... Washington Trust Bancorp (WASH) downgraded to Neutral from Buy at Guggenheim.
07:43 EDTCBBCincinnati Bell downgraded to Underperform from Neutral at BofA/Merrill

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