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Stock Market & Financial Investment News

News Breaks
July 10, 2014
09:15 EDTKOS, PBPB, ZUMZ, UAL, LQDT, MEMP, TSCO, TTS, IGT, DRWI, FDO, LLOn The Fly: Pre-market Movers
HIGHER: Zumiez (ZUMZ), up 5.7% after raising Q2 outlook... DragonWave (DRWI), up 5% after reporting better than expected Q1 results... International Game (IGT), up 3.6% after Italian press report says the company will soon get a $4B offer from GTECH... United Continental (UAL), up 2.9% after reporting June traffic. LOWER: Lumber Liquidators (LL), down 23% after downgraded at Jefferies and Credit Suisse following the company's reduced full-year outlook. Tile Shop (TTS), which also serves flooring customers, down 5.5% following Lumber Liqudators' profit warning... Family Dollar (FDO), down 1.9% after reporting Q3 earnings that missed expectations... Tractor Supply (TSCO), down 5.9% after reporting Q2 preliminary results, saying it now sees FY14 results at low end of guidance range... Liquidity Services (LQDT), down 8% after revising Q3 guidance after its sales of selected rolling stock and other assets under its Surplus Contract with the U.S. Defense Logistics Agency have ceased at the request of DLA... Potbelly (PBPB), down 18% after lowering its Q2 and FY14 outlook... Memorial Production Partners (MEMP), down 7.4% after filing to sell 8.6M shares of common units for partners... Kosmos (KOS), down 3.3% after filing to sell 17M shares of common stock.
News For UAL;LL;TTS;ZUMZ;FDO;TSCO;PBPB;DRWI;MEMP;KOS;IGT;LQDT From The Last 14 Days
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August 20, 2015
13:26 EDTLLOn The Fly: Top stock stories at midday
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10:42 EDTLLCantor upgrade gives embattled Lumber Liquidators a boost
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10:00 EDTLLOn The Fly: Analyst Upgrade Summary
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06:40 EDTLLLumber Liquidators upgraded to Buy from Hold at Cantor
Cantor Fitzgerald analyst Laura Champine upgraded Lumber Liquidators to Buy from Hold and raised her price target for shares to $18 from $15. The embattled wood flooring retailer closed yesterday down 75c to $14.21. The risk/reward scenario has become "much more appealing" with the down nearly 80% year-to-date, Champine tells investors in a research note. Appointing a chief compliance and legal officer with three decades of relevant experience should bring improved oversight, the analyst argues. Champine also raised her long-term gross margin assumptions after her recent store tour with senior management.
05:36 EDTMEMPLegacy Reserves downgraded to Neutral from Buy at UBS
UBS downgraded Legacy Reserve (LGCY) to Neutral after after stress testing upstream MLPs to reflect scenarios in which oil remains depressed and recovery is limited. The firm expects MLPs that are better capitalized, well hedged and less levered to crude oil to outperform. It lowered its price target for shares to $5.50 from $14. UBS coupled the downgrade with an upgrade of Mid-Con Energy (MCEP) to Buy. Other Buy-rated upstream MLPs at the firm are Vanguard Natural (VNR), Memorial Production (MEMP) and Eagle Rock Energy (EROC). Sell-rated names are LINN Energy (LINE) and LinnCo (LNCO).
August 19, 2015
10:00 EDTIGTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Biocept (BIOC) initiated with a Buy at H.C. Wainwright... C.H. Robinson (CHRW) initiated with a Buy at Evercore ISI... Chipotle (CMG) initiated with a Hold at Maxim... Con-way (CNW) initiated with a Buy at Evercore ISI... Dermira (DERM) initiated with an Outperform at Cowen... Expeditors (EXPD) initiated with a Hold at Evercore ISI... Fleetmatics (FLTX) initiated with an In-Line at Imperial Capital... Frontier Communications (FTR) initiated with an Overweight at Stephens... Gevo (GEVO) initiated with a Buy at Rodman & Renshaw... International Game (IGT) initiated with a Sell at Goldman... Knight Transportation (KNX) initiated with a Buy at Evercore ISI... Logitech (LOGI) initiated with a Buy at Rosenblatt... Navistar (NAV) initiated with a Neutral at Macquarie... Panera Bread (PNRA) initiated with a Hold at Maxim... Scientific Games (SGMS) initiated with a Sell at Goldman... Swift Transport (SWFT) initiated with a Hold at Evercore ISI... Tribune Media (TRCO) initiated with an Equal Weight at Morgan Stanley... WEX Inc. (WEX) initiated with an Equal Weight at Barclays... Zoe's Kitchen (ZOES) initiated with a Buy at Maxim.
06:22 EDTIGTInternational Game initiated with a Sell at Goldman
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August 18, 2015
20:00 EDTUALAirline stocks fall as companies face probes, labor issues, WSJ says
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16:49 EDTLLOn The Fly: Top stock stories for Tuesday
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13:33 EDTLLOn The Fly: Top stock stories at midday
Repeating yesterday's start, the market began the session in negative territory before recapturing those losses. Early weakness was attributed to a dip in Wal-Mart (WMT) shares after the company's earnings report as well as a selloff in the Chinese market overnight. Heading into the afternoon, the market has drifted back across the flat line, with all three indices negative despite July's housing starts showing the strongest reading in eight years. ECONOMIC EVENTS: In the U.S., housing starts edged up 0.2% in July to 1.206M, outpacing consensus estimates for 1.180M in the best reading since October 2007. Building permits fell 16.3% to 1.119M against expectations for 1.230M from a revised 1.337M in June, while single family starts rose 12.8% and multifamily numbers fell 17.0%. In Europe, Eurozone parliaments are set to vote on Greece's prospective bailout deal this week, with Reuters reporting earlier today that the Austrian parliament has approved the EUR86B agreement. COMPANY NEWS: Shares of National Penn (NPBC) rose nearly 17% to $12.77 after BB&T (BBT) agreed to acquire the company in a $1.8B cash and stock deal. On a conference call discussing the acquisition, BB&T CEO Kelly King called the "very, very synergistic" deal a "compelling use of capital," adding that the company expects to consolidate about 25 branches to help drive annual cost savings of $65M... Wal-Mart (WMT) fell roughly 3.2% to near $69.50 after cutting its full year earnings outlook this morning, with CFO Charles Holley noting that operating profit will see continued pressure. Meanwhile, Home Depot (HD) and Dicks Sporting Goods (DKS) saw respective gains of about 2.3% and 1.8% after their pre-market earnings reports. MAJOR MOVERS: Among the notable gainers was Omeros (OMER), surging more than 69% to $24.58 after releasing positive preliminary data on its Phase 2 trial of OMS721 for the treatment of organ blood clots. Also higher was Inteliquent (IQNT), rising about 19% to $21.24 after announcing a three-year agreement with T-Mobile (TMUS) to provide IP voice services for the carrier. Separately, Lumber Liquidators (LL) has gained almost 5.7% to nearly $15 in afternoon trading after announcing the appointment of Jill Witter as Chief Compliance and Legal Officer. Among the noteworthy losers was Esperion (ESPR), falling over 11% despite rising 5% in pre-market trading after reporting that the ETC-1002 Phase 3 program is on track, adding that the FDA will not require a cardiovascular outcomes trial prior to the drug's potential approval. Also lower was American Apparel (APP), slipping about 1.9% after disclosing "substantial doubt" about its ability to sustain operations during the coming year. INDEXES: Near midday, the Dow was down 40.37, or 0.23%, to 17,504.81, the Nasdaq lost 26.86, or 0.53%, to 5,064.96, and the S&P 500 was lower by 6.02, or 0.29%, to 2,096.41.
10:15 EDTLLLumber Liquidators hires Jill Witter as Chief Compliance and Legal Officer
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10:00 EDTZUMZ, IGTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abercrombie & Fitch (ANF) initiated with an Underperform at Wolfe Research... Abiomed (ABMD) initiated with a Buy at CRT Capital... Aeropostale (ARO) initiated with a Peer Perform at Wolfe Research... American Eagle (AEO) initiated with an Outperform, Top Pick at Wolfe Research... American Electric (AEP) initiated with a Buy at Mizuho... Benefitfocus (BNFT) initiated with an Overweight at First Analysis... Blue Buffalo Pet Products (BUFF) initiated with an Equal Weight at Morgan Stanley... Capitala Finance (CPTA) initiated with an Equal Weight at Stephens... Chico's (CHS) initiated with a Peer Perform at Wolfe Research... Children's Place (PLCE) initiated with an Outperform at Wolfe Research... Chimerix (CMRX) initiated with an Outperform at FBR Capital... Ciena (CIEN) initiated with a Market Perform at Northland... Crane (CR) initiated with an Outperform at William Blair... Entergy (ETR) initiated with a Neutral at Mizuho... Express (EXPR) initiated with an Outperform, Top Pick at Wolfe Research... Finisar (FNSR) initiated with a Market Perform at Northland... Francesca's (FRAN) initiated with a Peer Perform at Wolfe Research... Gap (GPS) initiated with an Underperform at Wolfe Research... Infinera (INFN) initiated with an Outperform at Northland... International Game (IGT) initiated with a Buy at Union Gaming... Juno Therapeutics (JUNO) initiated with an Outperform at FBR Capital... L Brands (LB) initiated with a Peer Perform at Wolfe Research... Luca Technologies (LUCA) initiated with an Outperform at Northland... Lumentum (LITE) initiated with an Outperform at Northland... M/A-COM (MTSI) reinstated with a Buy at Jefferies... MRV Communications (MRVC) initiated with an Outperform at Northland... Michael Kors (KORS) initiated with a Peer Perform at Wolfe Research... NN, Inc. (NNBR) initiated with a Buy at Stifel... NeoPhotonics (NPTN) initiated with an Outperform at Northland... Oclaro (OCLR) initiated with an Outperform at Northland... Scientific Games (SGMS) initiated with a Buy at Sterne Agee CRT... SolarCity (SCTY) initiated with a Neutral at UBS... Summit Materials (SUM) initiated with a Neutral at Citi... Tech Data (TECD) initiated with an Underperform at BofA/Merrill... Urban Outfitters (URBN) initiated with a Peer Perform at Wolfe Research... Zumiez (ZUMZ) initiated with an Underperform at Wolfe Research... lululemon (LULU) initiated with a Peer Perform at Wolfe Research.
10:00 EDTIGTOn The Fly: Analyst Downgrade Summary
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09:13 EDTIGTInternational Game initiated with a Buy at Union Gaming
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August 17, 2015
17:04 EDTZUMZZumiez initiated with an Underperform at Wolfe Research
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16:26 EDTIGTInternational Game downgraded to Underperform from Neutral at Sterne Agee CRT
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16:11 EDTIGTInternational Game awarded pivotal multi-hand poker U.S. patent
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07:13 EDTZUMZZumiez upgraded to Positive from Neutral at Susquehanna
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August 16, 2015
20:09 EDTLL'60 Minutes' reiterates view of 'unsafe' Lumber Liquidators flooring
On the August 16 edition of CBS' "60 Minutes," reporter Anderson Cooper reiterated the program's perspective that the company's flooring does not appear safe. During the rerun, head of environmental nonprofit Global Community Monitor Danny Larson -- who is suing the company with the help of attorney Richard Drury -- told the program he wants Lumber Liquidators to replace "every single board, at their cost." Drury added that, among households nationwide, there are "probably hundreds of thousands" using Lumber Liquidators products that exceed acceptable formaldehyde levels. As shown in the rerun, undercover investigators for "60 Minutes" visited three separate Chinese mills that claimed to be major suppliers to Lumber Liquidators -- and at all three mills, employees "openly admitted" to producing flooring with non-compliant formaldehyde levels, reportedly saving the company 10%-15%. Since the report first aired, former Lumber Liquidators CEO Robert Lynch has resigned and the company has met with numerous investigations. In a statement released this week, the embattled hardwood retailer said it has taken, and continues to take, action to protect its customers, though it offered no concrete details. Note that shares of Lumber Liquidators closed Friday at $14.02 after Tiger Management disclosed a 238,000 share position in the firm.
18:20 EDTUALFAA working with airlines to restore operations after August 15 cancellations
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