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Stock Market & Financial Investment News

News Breaks
February 21, 2013
14:44 EDTBA, UALUnited taking Boeing 787 off schedule through June 5, Bloomberg says
United Continental (UAL) is taking Boeing's (BA) 787 off its flight schedule through June 5, according to a Bloomberg report that cites an e-mailed statement from United. The report says United is still planning to use the 787 on its new route between Denver and Tokyo. Reference Link
News For UAL;BA From The Last 14 Days
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February 26, 2015
07:12 EDTUALUBS to hold a conference
Aerospace & Defense, Airlines & Lessors 1:1 Conference is being held in Boston on February 26.
06:36 EDTUALUnited Continental issues safety warning to pilots, WSJ says
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06:35 EDTBABoeing, FedEx oppose punishing Gulf airlines for alleged subsidies, Reuters says
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February 25, 2015
06:10 EDTBAFAA will allow Southwest to fly planes that missed inspection, WSJ reports
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February 24, 2015
10:24 EDTBABoeing finds buyers for early 787 Dreamliner inventory, Bloomberg says
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10:02 EDTBABoeing lines up buyers for 10 'overweight' 787 Dreamliners, Bloomberg says
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08:28 EDTBASenate Commerce, Science & Transportation Committee holds a hearing
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07:30 EDTUALJPMorgan to hold a conference
Global High Yield & Leveraged Finance Conference is being held in Miami Beach, FL on February 23-25 with webcasted company presentations to begin on February 24 at 7:40 am; not all company presentations may be webcasted. Webcast Link
06:46 EDTBAAirbus told suppliers to prepare for increase in A320 production, Reuters says
Airbus (EADSY) has told suppliers that it is considering increasing the number of A320 jets it produces to 50 per month as early as 2017, according to Reuters. The company, which is looking to make 48 A320 jets per month by the second quarter of 2016, currently manufactures 42 of the jets per month and had previously planned to produce 46 of them monthly by the second quarter of 2016, the news service noted. Boeing (BA) competes with Airbus in international commercial plane markets. Reference Link
06:29 EDTUALCriticism grows against U.S. airline attempts to limit Gulf airlines, WSJ says
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05:23 EDTBARaytheon and Boeing partner to provide solutions to Royal Saudi Air Force
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February 23, 2015
16:27 EDTBAOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory and remained there for most of the session, with the Nasdaq the lone index to post a small gain. The Dow was weighed down by shares of Boeing (BA), which slid after the stock received a downgrade. There was little in the way of positive economic news, as the most notable report showed existing homes were lower than expected due to a shortage of inventory. The averages drifted for most of the session, as investors may be waiting on the sidelines ahead of tomorrow’s banking panel testimony by Fed Chair Janet Yellen. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index rebounded to 0.13 in January, which was nearly in-line with expectations. Existing home sales dropped 4.9% to a 4.82M rate in January, which was much worse than the expected 1.8% drop to a 4.95M unit rate. In Europe, the Ifo Institute’s measure of German business confidence rose to 106.8 in February, which was up a tenth of a percentage point from the previous month but below the 107.7 consensus forecast. Also, the Bank of Israel became the latest central bank to cut rates this year, lowering its main interest rate to 0.1% from 0.25%. COMPANY NEWS: The shares of a number of health insurers rose after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for the insurers. Following the CMS announcement made late Friday, Humana (HUM) climbed $8.40, or 5.38%, to $164.52, UnitedHealth (UNH) rose $3.78, or 3.36%, to $116.40, and WellCare (WCG) gained $4.68, or 5.53%, to $89.30. MAJOR MOVERS: Among the notable gainers was PTC Therapeutics (PTCT), which jumped $9.77, or 17.7%, to $64.96 after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN). Also higher was Valeant (VRX), which rose $25.49, or 14.71%, to $198.75 after the company agreed to buy Salix (SLXP) for $158 per share and also reported better-than-forecast earnings. Salix shares, however, fell $2.09, or 1.32%, to $155.76, as a report Friday from CNBC's David Faber telegraphed the deal and suggested Valeant could value Salix around $160 per share. Among the noteworthy losers was Spectrum Pharmaceuticals (SPPI), which dropped $1.18, or 15.82%, to $6.28 after a judge ruled that a drug which could compete with the company's Fusilev treatment does not infringe on the company's intellectual property. Also lower were shares of Boeing, which fell $3.57, or 2.26%, to $154.74 after the stock was downgraded to Sell from Neutral at Goldman Sachs. INDEXES: The Dow fell 23.60, or 0.13%, to 18,116.84, the Nasdaq gained 5.01, or 0.1%, to 4,960.97, and the S&P 500 slipped 0.64, or 0.03%, to 2,109.66.
16:17 EDTUALBuckeye Partners reduces FY14 revenue by $40M due to settlement discussions
Buckeye Partners (BPL) announced revisions to its financial results for Q4 and FY14 due to a recent development. As has been previously disclosed, commencing in September 2012, Delta Air Lines (DAL), JetBlue (JBLU), United/Continental Air Lines (UAL), US Airways, and American Airlines (AAL) filed complaints with the Federal Energy Regulatory Commission challenging rates for transportation of jet fuel from New Jersey to three New York City area airports charged by Buckeye Pipe Line Company, an operating subsidiary of Buckeye. The Airlines are seeking payments for alleged past excessive charges and prospective tariff rate reductions. As the litigation has progressed, BPLC and the Airlines have continued to pursue settlement discussions. Due to positive developments in those settlement discussions subsequent to Buckeye's issuance of its 2014 earnings on Friday, February 6, Buckeye has recorded a reduction in revenue in the amount of $40M for the year ended December 31, 2014 in accordance with applicable accounting guidance regarding contingencies. This reduction in revenue is a one-time charge; therefore, Adjusted EBITDA and distributable cash flow for 2014 remain as reported on February 6th. The $40M is based upon a settlement offer made by BPLC to satisfy the claims for alleged past excessive charges through December 31, 2014, which offer has not been accepted by the Airlines. "While we continue to pursue settlement of this matter, we are not able to predict with certainty the final outcome of the proceeding, should it be carried through to its conclusion, or whether we can reach a satisfactory settlement and, if so, whether or not it will be on more or less favorable terms," the company said.
12:21 EDTBAOn The Fly: Midday Wrap
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11:13 EDTBABoeing falls after Goldman downgrades to Sell, levels to watch
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09:59 EDTBAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Antofagasta (ANFGY) downgraded to Sell from Neutral at Goldman... Arch Coal (ACI) downgraded to Sell from Buy at Argus... BHP Billiton (BHP) downgraded to Equal Weight from Overweight at Morgan Stanley... Beazer Homes (BZH) downgraded to Neutral from Buy at Compass Point... Boeing (BA) downgraded to Sell from Neutral at Goldman... Century Communities (CCS) downgraded to Neutral from Overweight at JPMorgan... CyberArk (CYBR) downgraded to Underweight from Neutral at JPMorgan... DirecTV (DTV) downgraded to Hold from Buy at Brean Capital... Enerplus (ERF) downgraded to Hold from Buy at Desjardins... Fiserv (FISV) downgraded to Neutral from Buy at Monness Crespi... GP Strategies (GPX) downgraded to Neutral from Buy at B. Riley... Interactive Brokers (IBKR) downgraded to Market Perform at Keefe Bruyette... MRC Global (MRC) downgraded at BB&T... Precision Castparts (PCP) downgraded to Neutral from Buy at Goldman... Quest Diagnostics (DGX) downgraded at BofA/Merrill... Rio Tinto (RIO) downgraded to Equal Weight from Overweight at Morgan Stanley... Roth Capital downgraded Spectrum (SPPI) on court case loss... Royal Dutch Shell (RDS.A) downgraded to Sector Perform from Outperform at Howard Weil... Ryland Group (RYL) downgraded to Neutral from Buy at Compass Point... Salix (SLXP) downgraded to Market Perform from Outperform at Leerink... Standard Pacific (SPF) downgraded to Neutral from Buy at Compass Point... Superior Energy (SPN) downgraded to Neutral from Outperform at Credit Suisse... Transocean (RIG) downgraded to Negative from Neutral at Susquehanna... Vale (VALE) downgraded to Equal Weight from Overweight at Morgan Stanley.
06:51 EDTBAAerospace sector downgraded to Neutral from Attractive at Goldman
Goldman downgraded the Aerospace sector to Neutral based on group outperformance and increased downside risks. The firm believes Boeing (BA) and Airbus are now oversupplying the market after a decade of undersupply and replacement demand required to sustain production may prove difficult to achieve. Goldman said accelerated new aircraft replacements was partially due to fuel economics and lower fuel prices and global growth volatility could substantially change Aerospace dynamics. As part of the sector view change, Goldman downgraded Boeing to Sell from Neutral and Precision Castparts (PCP) to Natural from Buy.
06:19 EDTBABoeing downgraded to Sell from Neutral at Goldman
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February 20, 2015
17:20 EDTUALUnited Continental says cooperating with government investigation
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08:48 EDTBABoeing price target raised to $196 from $164 at Sterne Agee
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