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Stock Market & Financial Investment News

News Breaks
August 11, 2014
14:55 EDTULTI, ULTI, ULTI, HSH, HSH, HSH, TSN, TSN, TSNUltimate Software to replace Hillshire Brands in S&P 400 as of 8/14 close
News For ULTI;HSH;TSN From The Last 14 Days
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February 5, 2016
12:12 EDTTSNOn The Fly: Top stock stories at midday
Stocks began the day lower and have seen little in the way of buying since the open. As the market digested the monthly jobs data and watched the price of oil turn negative, the selling that had taken a two day break was renewed. The Nasdaq is the biggest loser, falling over 2%, while the Dow is down about 1%. ECONOMIC EVENTS: In the U.S., nonfarm payrolls rose 151,000 in January, versus expectations for an increase of 190,000. The unemployment rate fell to 4.9%, versus expectations for it to stay at 5.0%. Average hourly earnings climbed 0.5% month-over-month, versus the consensus forecast for them to rise 0.3%. The trade deficit widened 2.7% to $43.4B in December, as exports dipped 0.3% and imports rose 0.3%. A report on Consumer Credit growth in December is due out at 3 pm ET. COMPANY NEWS: The shares of LinkedIn (LNKD) plunged 40% after the professional network reported stronger than expected fourth quarter results, but its 2016 guidance came in significantly below expectations. At least nine Wall Street research firms responded to the guidance miss by downgrading the stock... Also tumbling in the wake of its quarterly report was "Big Data" software provider Tableau (DATA), which fell 47% after its full-year guidance came in significantly below expectations. Tableau blamed its guidance miss on weaker IT spending trends, as well as competition, and a number of other companies that sell software to businesses also fell following its report, including peer Splunk (SPLK), NetSuite (N), Salesforce (CRM) and Workday (WDAY). MAJOR MOVERS: Among the notable gainers was Cempra (CEMP), which gained about 5% after it said that its solithromycin drug met primary and secondary objectives in its Phase 3 study. Also higher were Tyson Foods (TSN) and Post Holdings (POST), which gained 10% and 11.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Vertex (VRTX), which fell 5% after the FDA said that it cannot currently approve a label expansion for Kalydeco in children with residual function mutations. Also lower were Lion's Gate (LGF), YRC Worldwide (YRCW), and Redbox-parent Outerwall (OUTR), which were down 33%, 30%, and 17%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 171.21, or 1.04%, to 16,245.37, the Nasdaq was down 110.39, or 2.45%, to 4,399.17, and the S&P 500 was down 27.10, or 1.41%, to 1,888.35.
11:51 EDTTSNTyson Foods soars to 52-week high after raising FY16 profit outlook
Shares of Tyson Foods (TSN) are rallying after the company's first quarter earnings per share topped analysts' consensus estimates. The company also raised its profit outlook for fiscal year 2016. WHAT'S NEW: Prior to the market open this morning, Tyson Foods reported Q1 adjusted EPS of $1.15, easily topping analyst's consensus estimates of 89c. However, the company's Q1 revenue of $9.15B missed analysts' estimates of $10.07B, and the company noted that average sales prices decreased in the quarter due in part to higher domestic availability of fed cattle and live hog supplies. Tyson also noted that feed costs declined $60M during Q1. Additionally, the company also raised its share repurchase authorization by 50M shares. GUIDANCE: Looking ahead to FY16, Tyson Foods raised its EPS view to $3.85-$3.95, ahead of analysts' consensus estimates of $3.63. The company's sales view for FY16 was lowered to approximately $37B from its previous estimate of $41B, below analysts' estimates of $39.83B. The company cited declines in beef, pork and feed prices. Tyson Foods sees domestic protein production for the fiscal year up 2%-3% and believes the chicken segment's operating margin will improve to 11% in 2016, up from its previous 10% outlook. Tyson also sees lower future feed costs in FY16 compared to FY15 of approximately $200M based on current futures prices. Further, Tyson sees its beef segment's operating margin "at or above" the low end of its normalized range of 1.5-3% for FY16 and its pork segment's operating margin above its normalized 6%-8% range, up from its previous estimate of within the range. The company also sees synergies of over $500M in FY16 from its acquisition of Hillshire Brands and sees FY16 capital expenditures of $900M. EXECUTIVE COMMENTARY: On the company's earnings conference call, Donnie Smith, the company's chief executive officer, said he believes that "the worst is over" in terms of the cattle supply. While he believes beef will still be expensive to consumers, he noted that customers are spending more at the grocery store. PRICE ACTION: In late morning trading, Tyson Foods rose $5.16, or about 10%, to $57.13 on nearly twice its average daily trading volume. Earlier in the session, the stock made a fresh 52-week high of $58.94. Including the advance, the stock is up approximately 43% over the past 12 months. OTHERS TO WATCH: Other food producers include Hormel Foods (HRL), Sanderson Farms (SAFM) and Pilgrim's Pride (PPC).
09:19 EDTTSNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tyson Foods (TSN), up 6.9%... Symantec (SYMC), up 9.1%... Ubiquiti (UBNT), up 20.2%... Lumentum (LITE), up 7.5%. DOWN AFTER EARNINGS: Tableau Software (DATA), down 42.8%... LinkedIn (LNKD), down 35.6%... Outerwall (OUTR), down 19.9%... Sierra Wireless (SWIR), down 24.4%... Deckers Outdoor (DECK), down 12.7%... Hanesbrands (HBI), down 13.3%. ALSO LOWER: LinnCo (LNCO), down 65% after announcing exploration of strategic alternatives... Linn Energy (LINE), down 59.2% after announcing exploration of strategic alternatives... Quotient (QTNT), down 17.9% after 4.44M share Secondary priced at $9.00... Hess (HES), down 10.2% after 25M share Spot Secondary priced at $39.00.
09:10 EDTTSNTyson Foods says overall grocery trips down, but customers spending more
09:08 EDTTSNTyson Foods expects beef to still be expensive to consumers
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09:06 EDTTSNTyson Foods expects continued savings in raw materials, synergy capture in FY16
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08:54 EDTTSNTyson Foods rallies sharply after earnings beat
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07:38 EDTTSNTyson Foods sees FY16 domestic protein production up 2%-3%
Tyson said: "In fiscal 2016, we expect domestic protein production, chicken, beef, pork and turkey, to increase approximately 2-3% from fiscal 2015 levels and moderate export growth. As a result, increased domestic availability could pressure protein pricing. As we proceed with the integration of Hillshire Brands, we expect to realize incremental synergies in excess of $200M above the amount of synergies realized in fiscal 2015. In total, we expect synergies of more than $500M in fiscal 2016 and more than $700M in fiscal 2017 from the acquisition as well as our profit improvement plan for our legacy Prepared Foods business. The majority of these benefits will be realized in our Prepared Foods segment." The company expects capital expenditures to approximate $900M for fiscal 2016.
07:36 EDTTSNTyson Foods increases shares repurchase authorization by 50M shares
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07:34 EDTTSNTyson Foods raises FY16 EPS view to $3.85-$3.95, consensus $3.63
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07:31 EDTTSNTyson Foods reports Q1 adjusted EPS $1.15, consensus 89c
Reports Q1 revenue $9.15B, consensus $10.07B.
February 4, 2016
14:35 EDTTSNNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Estee Lauder (EL), consensus $1.11... CME Group (CME), consensus 90c... Tyson Foods (TSN), consensus 89c... Weyerhaeuser (WY), consensus 24c.
13:56 EDTTSNTyson Foods volatility elevated into Q1 and outlook
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February 3, 2016
08:46 EDTULTIUltimate Software reported 'excellent results,' says JMP Securities
After Ultimate Software's results beat expectations, JMP Securities notes that the company reported that its new ARR bookings jumped 56% year-over-year last quarter, while each of its sales teams exceeded expectations. The firm says these metrics indicate that the company has strong momentum. JMP keeps a $193 price target and Outperform rating.
07:56 EDTULTIUltimate Software 'firing on all cylinders,' says SunTrust
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February 2, 2016
19:22 EDTULTIOn The Fly: After Hours Movers
UP AFTER EARNINGS: Boot Barn (BOOT), up 16.5%... Wabash National (WNC), up 9.7%... Oclaro (OCLR), up 6.8%... Myriad Genetics (MYGN), up 8%... Ultimate Software Group (ULTI), up 6.2%... Natural Health (NHTC), up 6.2%... Edwards Lifesciences (EW), up 6.2%... Viavi Solutions (VIAV), up 2.4%... Gilead Sciences (GILD), up just under 1%. DOWN AFTER EARNINGS: Match Group (MTCH), down 7.3%... Yahoo (YHOO), down 1.2%... Chipotle (CMG), down 7.1%. ALSO LOWER: Barnes & Noble (BKS), down 2.4% after General Growth (GGP) CEO Sandeep Mathrani announced that Amazon (AMZN) is going to open 300-400 brick-and-mortar bookstores.
16:03 EDTULTIUltimate Software sees FY16 revenue up 25%, consensus $758.04M
Sees FY16 recurring revenue up 26%. Sees adjusted operating margin 21%.
16:02 EDTULTIUltimate Software sees Q1 revenue $180M, consensus $179.09M
Sees Q1 recurring revenue $150M. Sees adjusted operating margin 18%.
16:01 EDTULTIUltimate Software reports Q4 adjusted EPS 83c, consensus 73c
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12:15 EDTTSNTyson Foods closes some pork and beef plants due to blizzard, Reuters reports
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