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Stock Market & Financial Investment News

News Breaks
August 5, 2014
20:25 EDTTWX, TWX, DNR, DNR, CNP, CNP, TAP, TAP, RL, RL, VIP, VIP, PH, PH, CHK, CHK, SE, SE, DISH, DISH, CTSH, CTSH, DVN, DVN, AOL, AOL, VIAB, VIAB, MDLZ, MDLZ, RDC, RDCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Time Warner (TWX), consensus 84c;Mondelez (MDLZ), 39c; Viacom (VIAB), consensus $1.44; AOL (AOL), consensus 44c; Devon Energy (DVN), consensus $1.40; Cognizant Technology (CTSH), consensus 58c; Dish Network (DISH), consensus 51c; Spectra Energy (SE), consensus 29c; Chesapeake Energy (CHK), consensus 44c; Parker-Hannifin (PH), consensus $2.07; VimpelCom (VIP), consensus 75c; Ralph Lauren (RL), consensus $1.76; Molson Coors (TAP), consensus $1.46; CenterPoint Energy (CNP), consensus 23c; Denbury (DNR), consensus 27c; Rowan (RDC), consensus 24c.
News For TWX;MDLZ;VIAB;AOL;DVN;CTSH;DISH;SE;CHK;PH;VIP;RL;TAP;CNP;DNR;RDC From The Last 14 Days
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October 16, 2014
07:05 EDTCHKChesapeake announces sale of shale assets for $5.375B
Chesapeake (CHK) announced that it has executed a Purchase and Sale Agreement to sell assets in the Southern Marcellus Shale and a portion of the Eastern Utica Shale in West Virginia to Southwestern Energy Company (SWN) for aggregate proceeds of $5.375B. The transaction, which is subject to certain customary closing conditions, including the receipt of third-party consents, is expected to close in Q4. Chesapeake has agreed to sell approximately 413K net acres and approximately 1,500 wells in Northern West Virginia and Southern Pennsylvania, of which 435 are in the Marcellus and Utica formations, along with related property, plant and equipment. Average net daily production from these properties was approximately 56K barrels of oil equivalent during the month of September, consisting of 184K Mcf of gas, 20K barrels of natural gas liquids and 5,000 barrels of condensate. The company said, "We expect our full-year production guidance for 2015 to remain in the range of 7-10% growth from 2014 levels adjusted for asset sales. I am very proud of the efforts that our Southern Marcellus team and all of our employees have put into building and developing our assets and creating value for our company. We look forward to deploying the proceeds from this significant transaction in ways that will continue to drive even greater shareholder value.
06:32 EDTVIABViacom downgraded to Underperform from Neutral at BofA/Merrill
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06:31 EDTTWXTime Warner upgraded to Buy from Neutral at BofA/Merrill
October 15, 2014
13:22 EDTTWXEarnings Preview: Netflix falls after HBO announced plans of streaming service
Netflix (NFLX) is expected to report third quarter earnings after the market close on Wednesday, October 15 with a conference call scheduled for 6:00 pm ET. Netflix is an Internet subscription service that allows members to watch TV shows and movies through DVD and on-demand streaming. EXPECTATIONS: Analysts are looking for earnings per share of 93c on revenue of $1.41B. The consensus range is 86c-$1.24 for EPS, and $1.39B-$1.43B for revenue, according to First Call. LAST QUARTER: Netflix reported second quarter EPS of $1.15 against estimates of $1.16, on revenue of $1.15B against estimates of $1.33B. It reported Q2 total streaming net additions of 1.69M and Q2-end total streaming members of 50.05M. The company reports Q2 international streaming net additions of 1.12M and Q2-end members of 13.8M. Netflix gave Q3 EPS guidance of 89c and revenue guidance of $1.22B. It also expects to add 3.69M net additions, with international approaching contribution profitability. Netflix said it can achieve U.S.-like margins in its international business. During its Q2 earnings interview, Netflix said it sees a dip in free cash flow for the fourth quarter of 2014 and the first quarter of 2015 as company expands original content. NEWS: Netflix launched in several countries in the past quarter, including France, Germany, Gelgium Austria, Switzerland, and Luxemburg. It also signed a deal with Weinstein Co. to release a feature film sequel to "Crouching Tiger Hidden Dragon" that will be released to a number of IMAX (IMAX) theaters. Netflix signed Judd Apatow to a two-year commitment for an original comedy series, and Adam Sandler to star in four feature films. The company announced a peering deal with Time Warner Cable (TWC) for faster streams and direct access. In a recent post on Facebook, CEO Reed Hastings said the company passed Time Warner's HBO in subscriber revenue. HBO, however, announced plans today to launch a standalone streaming service in the U.S. that does not require a cable TV subscription. STREET RESEARCH: MKM Partners said Netflix's international opportunity is larger than most realize and will eventually be able to provide a global product. The company's price target was raised at RBC Capital due to the opportunities in new European markets, along with favorable survey results in the U.S. and the U.K. Barclays and BTIG upgraded the company, saying international estimates are likely achievable no longer see the stock as underperforming its peers. BTIG expects Netflix's streaming service may reach 100M subscribers worldwide by 2017. Ahead of Q3 earnings, Canaccord said Netflix will likely report in-line results with continued strong subscriber additions and improved international performance. PRICE ACTION: Netflix shares have fell more than to 3.31% since the first day of trading following the company's Q2 report. In Wednesday mid-day trading ahead of Q3 report, Netflix shares are trading down 2.67%.
12:36 EDTTWXOn The Fly: Midday Wrap
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12:26 EDTTWXNetflix obtains streaming licensing rights to 'Friends'
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10:55 EDTTWXHBO to launch standalone online service in 2015
HBO's plans to launch a stand alone streaming service in the U.S. that does not require a cable TV subscription were announced at Time Warner's (TWX) analyst day meeting. HBO's upcoming service may be viewed as another competitor to Netflix (NFLX).
10:03 EDTTWXTime Warner's Turner unit sees low double-digit operating income CAGR 2013-18
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10:02 EDTRDCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Atwood Oceanics (ATW) initiated with a Buy at ISI Group... Baker Hughes (BHI) initiated with a Buy at Citigroup... Basic Energy (BAS) initiated with a Buy at ISI Group... C&J Energy (CJES) initiated with a Buy at ISI Group... CARBO Ceramics (CRR) initiated with a Hold at ISI Group... CHC Group (HELI) initiated with a Buy at ISI Group... Cameron (CAM) initiated with a Buy at ISI Group... Chart Industries (GTLS) initiated with a Buy at ISI Group... Core Laboratories (CLB) initiated with a Buy at ISI Group... Diamond Offshore (DO) initiated with a Sell at ISI Group... Dresser-Rand (DRC) initiated with a Sell at ISI Group... Dril-Quip (DRQ) initiated with a Buy at ISI Group... Ensco (ESV) initiated with a Buy at ISI Group... FIS (FIS) initiated with a Market Perform at BMO Capital... FMC Technologies (FTI) initiated with a Buy at ISI Group... GoPro (GPRO) initiated with a Sector Perform at Pacific Crest... Halliburton (HAL) initiated with a Buy at ISI Group... Helmerich & Payne (HP) initiated with a Neutral at Citigroup... Hercules Offshore (HERO) initiated with a Sell at ISI Group... Key Energy (KEG) initiated with a Buy at ISI Group... Maxwell (MXWL) reinstated with a Buy at Canaccord... Nabors Industries (NBR) initiated with a Buy at ISI Group... Noble Corp. (NE) initiated with a Buy at ISI Group... Oceaneering (OII) initiated with a Buy at ISI Group... Paragon Offshore (PGN) initiated with a Buy at ISI Group... Parker Drilling (PKD) initiated with a Buy at ISI Group... Patterson-UTI (PTEN) initiated with a Buy at Citigroup... Peabody (BTU) initiated with an Underperform at Imperial Capital... RPC, Inc. (RES) initiated with a Buy at Citigroup... Receptos (RCPT) initiated with a Buy at Goldman... Rowan Companies (RDC) initiated with a Buy at ISI Group... Schlumberger (SLB) initiated with a Buy at ISI Group... Sensata (ST) resumed with a Buy at Citigroup... Tidewater (TDW) initiated with a Hold at ISI Group... Transocean (RIG) initiated with a Sell at ISI Group... Weatherford (WFT) initiated with a Buy at ISI Group.
09:59 EDTTWXTime Warner CEO says has more than sufficient scale, sees doubling EPS
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09:52 EDTTWXTime Warner CEO sees investing more in content over time
Time Warner notes it invested $13.8B in content in 2013. Time Warner CEO Jeff Bewkes is speaking at the company's investor day meeting.
09:51 EDTTWXTime Warner sees adjusted EPS $6 by 2016, $8 by 2018
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07:09 EDTRDCRowan Companies initiated with a Buy at ISI Group
Target $41.
06:12 EDTRLNike's Converse sues rivals over 'copycat' design, NY Post reports
Converse, a unit of Nike (NKE), is suing rivals including Ralph Lauren (RL) and Tory Burch, alleging that shoemakers and retailers are copying its iconic design, the New York Post reports. Lawyers for Converse say "We welcome fair competition, but we do not believe companies have a right to copy the trademarked look." The lawsuit seeks unspecified damages and injunctions that would bar the production of the rival shoe models. Reference Link
October 14, 2014
11:00 EDTVIP, PHHigh option volume stocks
High option volume stocks: ABG AMJ SWI CIT INVE VIP PH AMLP CSX DPZ
October 13, 2014
12:13 EDTAOLYahoo upgraded as BGC sees higher chances for tax efficient monetization
Research firm BGC Partners upgraded its rating on Yahoo (YHOO) to Buy from Hold, saying that the chances of the company monetizing its assets in a more tax efficient manner have increased now that Alibaba (BABA) has come public. Among the possible scenarios, Yahoo may be acquired by Alibaba, the firm added. WHAT'S NEW: Yahoo's chances of paying a relatively low tax rate on the sale of its stakes in Alibaba and Yahoo Japan, a Japanese Internet company, have risen, BGC Financial analyst Colin Gillis stated. Yahoo could owe up to $15B of taxes on its sale of the assets, the analyst estimated. If Yahoo pays full tax liability, its stakes would be worth $43.5B. If it pays no taxes, the assets would be worth $58.5B, he estimated. Gillis set his price target on Yahoo at $50, representing the midpoint of the two scenarios, he stated. Among various scenarios that could play out, Alibaba could choose to buy Yahoo and subsequently unload Yahoo's core business and the American company's stake in Yahoo Japan, the analyst said. Yahoo shareholders could receive cash and shares of Alibaba as part of such a deal, Gillis stated. If Yahoo is not acquired by Alibaba, the American company should combine with AOL (AOL), as recently proposed by activist investor Starboard Value, Gillis contended. Merging with AOL could accelerate Yahoo's revenue growth by over 50% and increase its EBITDA by over 35%, Gillis estimated. PRICE ACTION: In early afternoon trading, Yahoo fell 1% to $39.18.
10:08 EDTPHOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
09:22 EDTPHParker-Hannifin downgraded to Neutral at Baird
As reported previously, Baird downgraded Parker-Hannifin to Neutral from Outperform citing softening energy prices which are likely to impact future growth. Baird lowered its price target on Parker-Hannifin to $115 from $128.
06:51 EDTPHParker-Hannifin downgraded to Neutral from Outperform at RW Baird
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05:40 EDTPHParker-Hannifin downgraded to Market Perform from Outperform at Wells Fargo
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