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Stock Market & Financial Investment News

News Breaks
July 30, 2014
07:31 EDTUPSUPS weakness overdone, says Bernstein
After UPS reported lower than expected Q2 EPS, Bernstein remains encouraged by the company's U.S. margins and volume growth. It views the stock as undervalued and keeps an Outperform rating.
News For UPS From The Last 14 Days
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January 26, 2015
06:14 EDTUPSUPS downgraded to Neutral from Outperform at Credit Suisse
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05:58 EDTUPSStocks with implied volatility movement; UPS VALE
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05:33 EDTUPSUPS downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded UPS (UPS) to Equal Weight citing a lack of earnings growth following the company's negative preannouncement. The firm says competition with FedEx (FDX) is driving lower prices and profitability. It dropped its price target for UPS shares to $105 from $116.
January 23, 2015
16:55 EDTUPSMarket ends week higher after ECB announces bond purchase plan
Stocks finished higher for the week after the European Central Bank unveiled a larger than expected bond buying plan and earnings season in the U.S. picked up steam. MACRO NEWS: The European Central Bank announced that it would buy EUR 60B of government and private bonds per month through September 2016. Reports before the ECB's official announcement had suggested that the central bank would buy EUR 50B of bonds per month... On a negative note, the International Monetary Fund cut its 2015 global growth outlook to 3.5% from 3.8%... U.S. economic data was mixed, as weekly jobless claims and sales of existing homes in December were worse than expected, but the index of leading economic indicators and new housing permits for December came in above the consensus outlook. COMPANY NEWS: Netflix (NFLX), Starbucks (SBUX), firearm maker Smith & Wesson (SWHC), and Southwest Airlines (LUV) were among the companies whose stocks rose following their results and guidance. On the other side of the ledger, Johnson & Johnson (JNJ), IT management solution provider CA Technologies (CA), UPS (UPS), and application delivery networking products maker F5 Networks (FFIV) were among the companies that fell after they reported their earnings or updated their financial outlooks... M&A reports moved a number of stocks this week. The Financial Post reported that Samsung (SSNLF) had hired investment bank Evercore (EVR) to evaluate a purchase of the troubled Canadian company. Samsung is still considering purchasing BlackBerry (BBRY), the newspaper added. However, Canada's BNN reported that Evercore said that Samsung has not been a recent client of theirs and that they prepare ideas "routinely" on their "own accord." Avon (AVP) has held talks about a potential sale to private equity firm TPG Capital, dealReporter stated. Bloomberg reported that online travel agency Orbitz Worldwide (OWW) is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and other Internet companies... DreamWorks Animation (DWA) tumbled after announcing a new strategic plan that will see it cut its feature production from three films per year down to two and axe about 500 jobs. INDEXES: For the week, the Dow dipped 0.37% to 17,672.60, the Nasdaq rose 1.14% to 4,757.88, and the S&P gained 0.34% to 2,051.82.
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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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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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.
January 20, 2015
07:39 EDTUPSUPS FedEx to benefit from lower oil prices, says Bernstein
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January 14, 2015
08:40 EDTUPSUPS expands three European Contract Logistics facilities
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