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Stock Market & Financial Investment News

News Breaks
March 11, 2014
07:19 EDTUTIWUTi Worldwide price target lowered to $14 from $18 at Stifel
Stifel cut its price target on UTI after the company issued a negative preannouncement and disclosed a "going concern" opinion by its auditors. The firm lowered its estimates for the company significantly, but thinks the company should be able to cut costs later this year. The firm keeps a Buy rating on the stock.
News For UTIW From The Last 14 Days
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September 4, 2015
16:13 EDTUTIWOn The Fly: Top stock stories for Friday
Stocks declined on Wall Street after the monthly nonfarm payrolls report simultaneously rose concerns about a slowdown in the world's biggest economy while not being bad enough to take the worries about the Federal Reserve raising rates this month off the table. With the U.S. market set to be closed on Monday, buyers seemed reluctant to step in and buy. China's markets will be open and investors may be fearful that headlines there could set the U.S. market up for another down day when investors return following the Labor Day holiday. ECONOMIC EVENTS: In the U.S., the government reported 173,000 nonfarm jobs were added in the U.S. in August, missing analysts' consensus projection that payrolls grew 217,000. The unemployment rate dipped more than expected to 5.1%, however. That fact as well as other underlying data in the report, such as the better than expected 0.3% growth in wages and the rise in full-time employment, appeared to leave investors fearing that the Fed will raise interest rates at the next Federal Open Market Committee meeting, which is scheduled for September 16-17. COMPANY NEWS: Shares of BlackBerry (BBRY) advanced in early trading after the mobile phone and software maker agreed to acquire rival Good Technology for $425M in cash, but the stock moved into the red in afternoon trading and closed down 13c, or 1.74%, at $7.33. The deal will expand BlackBerry's ability to offer a unified, secure mobility platform with applications for any mobile device on any operating system, the company stated, adding that it expects the deal to be accretive to earnings and cash flow within the first year after closing. MAJOR MOVERS: Among the notable gainers was Rayonier Advanced Materials (RYAM), which rose 8.57% to $6.97 after the stock was upgraded to Outperform at RBC Capital. Also rising following an analyst upgrade was SkyWest (SKYW), which gained 86c, or 5.34%, to $16.95 after Cowen upgraded the stock to Outperform and increased its price target for shares to $19 from $16. Among the noteworthy losers was Vince Holding (VNCE), which plummeted $4.06, or 43.74%, to $5.22 after the fashion brand owner cut its fiscal year adjusted earnings outlook and BofA Merrill Lynch downgraded the stock in response. Also lower following their own earnings reports were supply chain services company UTi Worldwide (UTIW), which fell 13% to $5.68, and IT software and services provider Infoblox (BLOX), which dropped 8% to $18.28. INDEXES: The Dow fell 272.38, or 1.66%, to 16,102.38, the Nasdaq lost 49.58, or 1.05%, to 4,683.92, and the S&P 500 dropped 29.91, or 1.53%, to 1,921.22.
12:25 EDTUTIWOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday after the government reported fewer than expected nonfarm jobs were added in the U.S. last month. The unemployment rate dipped more than expected to 5.1%, however, and that fact as well as other underlying data in the report appears to be leading investors to think that the Fed will raise interest rates later this month. The Federal Open Market Committee meets on September 16-17 and the central bank will decide at that meeting whether it is now time to hike interest rates for the first time in nearly ten years. ECONOMIC EVENTS: In the U.S., the government reported 173,000 nonfarm jobs were added in the U.S. in August, missing analysts' consensus projection that payrolls grew 217,000. The unemployment rate dipped to 5.1%, which was down from 5.3% previously and below the 5.2% consensus forecast. In Asia, Chinese markets were closed for a second day in a row for a holiday, but Japan's Nikkei and India's Sensex both slumped more than 2%. COMPANY NEWS: Shares of BlackBerry (BBRY) advanced 1.5% after the company agreed to acquire rival Good Technology for $425M in cash. The deal will expand BlackBerry's ability to offer a unified, secure mobility platform with applications for any mobile device on any operating system, the company stated, adding that it expects the deal to be accretive to earnings and cash flow within the first year after closing. MAJOR MOVERS: Among the notable gainers was Teekay Tankers (TNK), which gained more than 4% after UBS analyst Spiro Dounis double upgraded the stock to Buy from Sell and raised his price target for shares of the marine transportation provider to $7.25 from $6.75. Also higher was Dollar Tree (DLTR), which rose 2%, benefitting from an upgrade to Buy at Bank of America Merrill Lynch. The firm said it believes Dollar Tree's $300M synergy target for its Family Dollar acquisition looks conservative and believes integration benefits remain underappreciated by the market. Among the noteworthy losers following their earnings reports were Vince Holding (VNCE) and UTi Worldwide (UTIW), which fell 38% and 14%, respectively, after each lowered their fiscal year outlooks. INDEXES: Near midday, the Dow was down 271.38, or 1.66%, to 16,103.38, the Nasdaq was down 48.39, or 1.02%, to 4,685.11, and the S&P 500 was down 29.53, or 1.51%, to 1,921.60.
09:18 EDTUTIWOn The Fly: Pre-market Movers
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07:21 EDTUTIWMarket assigning no value to UTi freight forwarding business, says Stephens
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September 3, 2015
19:03 EDTUTIWOn The Fly: After Hours Movers
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16:13 EDTUTIWUTi Worldwide sees FY16 adjusted EBITDA $75M-$100M
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16:11 EDTUTIWUTi Worldwide reports Q2 EPS (70c), consensus (5c)
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14:57 EDTUTIWNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Cooper Companies (COO), consensus $1.95... VeriFone (PAY), consensus 46c... Esterline (ESL), consensus $1.42... Infoblox (BLOX), consensus 10c... UTi Worldwide (UTIW), consensus (5c)... Vince Holding (VNCE), consensus 23c.
August 31, 2015
07:33 EDTUTIWUTi Worldwide potential for guidance cut priced in, says Stephens
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