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Stock Market & Financial Investment News

News Breaks
February 20, 2014
07:16 EDTNSC, TSO, NUE, UPS, DU.S. Chamber of Commerce to hold a summit
Transportation Infrastructure Summit 2014 is being held in Washington, D.C. on February 20.
News For TSO;D;NUE;NSC;UPS From The Last 14 Days
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January 23, 2015
16:32 EDTUPSOn The Fly: Closing Wrap
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15:00 EDTUPSFollow-up: UPS downgraded to Neutral at BofA/Merrill
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14:50 EDTNSCNorfolk Southern January weekly volatility elevated into Q4 and outlook
Norfolk Southern January weekly call option implied volatility is at 45, February is at 27, March is at 25; compared to its 26-week average of 24 according to Track Data, suggesting large price movement into the expected release of Q4 results on January 26.
14:46 EDTNSCNorfolk Southern technical comments before earnings
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14:45 EDTNSCNorfolk Southern raises quarterly dividend 4% to 59c per share
Norfolk Southern announced that its board voted to increase the regular quarterly dividend on the company's common stock by 4%, or 2c per share, from 57c to 59c per share. The increased dividend is payable on March 10 to stockholders of record on February 6.
13:58 EDTUPSUPS downgraded to Neutral from Buy at BofA/Merrill
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12:33 EDTUPSOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq leading and the Dow lagging. The futures dipped this morning after UPS (UPS) pre-announced that its quarterly earnings would miss Street estimates. The earnings miss dragged other transportation names lower. ECONOMIC EVENTS: In the U.S., Markit's preliminary January manufacturing PMI fell to 53.7 from 53.9 previously, versus expectations for a reading of 54.0. Existing home sales rebounded 2.4% to a 5.04M rate in December, which was below the consensus forecast for a 3% increase. The leading indicators rose 0.5% to 121.1 in December, topping expectations for a rise of 0.4%. COMPANY NEWS: Shares of UPS plunged over 9% after the shipping giant warned that its Q4 adjusted EPS is now expected to be $1.25, below the consensus forecast of $1.47. "UPS invested heavily to ensure we would provide excellent service during peak when deliveries more than double. Though customers enjoyed high quality service, it came at a cost to UPS. Going forward, we will reduce operating costs and implement new pricing strategies during peak season,” said CEO David Abney. Subsequently, its peer, FedEx (FDX), reaffirmed its FY15 EPS forecast of $8.50-$9.00. The outlook compares to a consensus forecast of $8.97. FedEx shares, which were briefly halted for the announcement, are down 2% afterward... Shares of McDonald’s (MCD) slid about 1% near noon after its earnings miss, though the world’s largest restaurant chain's same-store sales declined less than analysts expected. Same-store sales in the company's fiscal fourth quarter declined 0.9%, versus the Consensus Metrix analysts' estimate for a 1.5% drop. Of note, McDonald’s U.S. same-store sales had their first monthly gain in more than a year in December, having risen 0.4%. MAJOR MOVERS: Among the notable gainers was Starbucks (SBUX), which rose 6.5% and had several research firms issue upbeat notes after the company reported in-line results last night. At least three firms responded to the report by raising their price targets on the shares. Also higher was Array BioPharma (ARRY), which jumped 38% after announcing that it has reached a definitive agreement with Novartis (NVS) to acquire worldwide rights to encorafenib, a BRAF inhibitor currently in Phase 3 development. Among the noteworthy losers was Avon Products (AVP), which dropped 11% after Wells Fargo downgraded the stock to Market Perform from Outperform after shares rallied yesterday over 14% following a report that the company has held talks with TPG Capital about a possible deal. Wells says it leveraged buyout math suggests a takeout of the entire company is unlikely. Also lower was DreamWorks Animation (DWA), which fell 9% after announcing a new strategic plan that will see it cut its feature production from three films per year down to two and cut about 500 jobs. INDEXES: Near midday, the Dow was down 42.58, or 0.24%, to 17,771.40, the Nasdaq was up 9.68, or 0.2%, to 4,760.08, and the S&P 500 was down 3.40, or 0.16%, to 2,059.75.
11:18 EDTUPSUPS downgraded to Market Perform from Outperform at Raymond James
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10:40 EDTUPSUPS hits session lows, levels to watch
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10:28 EDTUPSFedEx backs FY15 outlook after UPS issues profit warning
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10:02 EDTNUEOn the Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AmSurg (AMSG) upgraded to Overweight from Neutral at Piper Jaffray... Anglo American (AAUKY) upgraded to Neutral from Sell at Goldman... Autobytel (ABTL) upgraded to Buy from Hold at Ascendiant... Charles River Labs (CRL) upgraded to Outperform from Market Perform at William Blair... Chesapeake (CHK) upgraded to Outperform from Neutral at Credit Suisse... CubeSmart (CUBE) upgraded to Buy from Neutral at SunTrust... Cypress Semiconductor (CY) upgraded to Neutral from Underweight at JPMorgan... DreamWorks Animation (DWA) upgraded to Overweight from Neutral at Piper Jaffray... E-Trade (ETFC) upgraded at Credit Suisse... Kate Spade (KATE) upgraded to Buy from Neutral at Mizuho... LinkedIn (LNKD) upgraded to Strong Buy from Market Perform at Raymond James... Matthews (MATW) upgraded to Outperform from Neutral at Macquarie... Meridian Bioscience (VIVO) upgraded to Buy from Hold at Craig-Hallum... Michael Kors (KORS) upgraded to Buy from Neutral at Mizuho... NIC Inc. (EGOV) upgraded to Hold from Sell at Maxim... Natural Grocers (NGVC) upgraded to Overweight from Neutral at Piper Jaffray... Nucor (NUE) upgraded to Buy from Neutral at Goldman... ResMed (RMD) upgraded to Buy from Hold at Needham... Smith & Wesson (SWHC) upgraded to Buy from Neutral at Dougherty... Ternium (TX) upgraded to Neutral from Sell at Goldman... Union Pacific (UNP) upgraded to Buy from Hold at BB&T... ZAGG (ZAGG) upgraded to Buy from Hold at Craig-Hallum... lululemon (LULU) upgraded to Overweight from Neutral at JPMorgan.
08:45 EDTUPSUPS volatility elevated into warning on FY14, FY15 earnings
UPS overall option implied volatility of 17 compares to its 26-week average of 15 according to Track Data, suggesting large price movement into warning on FY14, FY15 earnings.
08:42 EDTUPSUPS drops after peak season costs weigh down Q4 profits
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08:39 EDTUPSUPS drops 5.5% after warning on FY14, FY15 earnings
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08:37 EDTUPSUPS now sees FY15 EPS growth 'slightly less' than long-term 9%-13% target
The company now anticipates 2015 diluted earnings per share growth to be slightly less than its long-term target of 9%-to-13%. UPS said it expects solid business growth across all segments in 2015. However, increased pension expense of approximately $180M due to lower discount rates, and currency headwinds of more than $50M will negatively impact results. FY15 EPS consensus $5.64.
08:36 EDTUPSUPS CEO says Q4 financial performance 'clearly disappointing'
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08:34 EDTUPSUPS sees FY14 adjusted EPS $4.75, consensus $4.96
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08:33 EDTUPSUPS sees Q4 adjusted EPS $1.25, consensus $1.47
Company earnings for 2014 were lower than previous guidance, primarily due to the underperformance of the U.S. Domestic segment. While package volume and revenue results were in line with expectations, operating profit was negatively impacted by higher than expected peak-related expenses.
06:27 EDTNUENucor upgraded to Buy from Neutral at Goldman
Goldman upgraded Nucor to Buy due to high exposure to recovering non-residential markets, low cost structure, and strong balance sheet. Price target lowered to $52 from $55.
January 20, 2015
07:39 EDTUPSUPS FedEx to benefit from lower oil prices, says Bernstein
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