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News Breaks
March 18, 2014
10:00 EDTINFA, NOA, UHS, LPI, PAAS, MKTO, FIG, CACI, LLL, FLO, AFOP, NBR, HPQ, CMFN, VNETOn The Fly: Analyst Upgrade Summary
21Vianet (VNET) upgraded to Outperform from Neutral at Credit Suisse... Alliance Fiber Optic (AFOP) upgraded to Buy from Neutral at B. Riley... CACI International (CACI) upgraded to Sector Perform from Underperform at RBC Capital... CM Finance (CMFN) upgraded to Outperform from Market Perform at Raymond James... Flowers Foods (FLO) upgraded to Outperform from Market Perform at BMO Capital... Fortress (FIG) upgraded to Outperform from Market Perform at JMP Securities... HP (HPQ) upgraded to Overweight from Equal Weight at Barclays... L-3 Communications (LLL) upgraded to Sector Perform from Underperform at RBC Capital... Marketo (MKTO) upgraded to Neutral from Sell at UBS... Nabors Industries (NBR) upgraded to Neutral from Underperform at Credit Suisse... North American Energy (NOA) upgraded to Buy from Hold at Jefferies... Pan American Silver (PAAS) upgraded to Sector Performer from Underperformer at CIBC... Universal Health (UHS) upgraded to Buy from Hold at KeyBanc... Informatica (INFA) upgraded to Buy from Outperform at CLSA... Laredo Petroleum (LPI) upgraded to Accumulate from Hold at KLR Group.
News For VNET;AFOP;CACI;CMFN;FLO;FIG;HPQ;LLL;MKTO;NBR;NOA;PAAS;UHS;INFA;LPI From The Last 14 Days
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February 5, 2016
10:13 EDTMKTOHigh option volume stocks
High option volume stocks: SC YRCW MKTO MT LNKD EPAM SBGL ALLY QLIK
10:02 EDTCACIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abbott (ABT) upgraded on valuation at Argus... Allstate (ALL) upgraded to Buy from Neutral at Citi... CACI (CACI) upgraded to Buy from Neutral at Citi... Coca-Cola Enterprises (CCE) upgraded to Neutral from Negative at Susquehanna... Coca-Cola (KO) upgraded to Neutral from Negative at Susquehanna... Comcast (CMCSA) upgraded following Q4 results at Argus... DCT Industrial (DCT) upgraded to Neutral from Underperform at Credit Suisse... Fluidigm (FLDM) upgraded to Buy from Neutral at Mizuho... Glu Mobile (GLUU) upgraded to Buy from Hold at Benchmark... Goldman Sachs (GS) upgraded to Buy at UBS... JPMorgan (JPM) upgraded to Buy from Neutral at UBS... KeyCorp (KEY) upgraded to Buy from Neutral at UBS... Kona Grill (KONA) upgraded to Outperform from Market Perform at Telsey Advisory... LPL Financial (LPLA) upgraded to Neutral at Susquehanna... Level 3 (LVLT) upgraded to Overweight from Equal Weight at Stephens... Resolute Forest (RFP) upgraded to Outperform from Sector Perform at RBC Capital... Suburban Propane (SPH) upgraded to Buy from Neutral at Citi... Sysco (SYY) upgraded at Argus... U.S. Concrete (USCR) upgraded to Buy from Neutral at Citi... Ubiquiti (UBNT) upgraded to Buy from Hold at Wunderlich... United Natural Foods (UNFI) upgraded to Sector Perform from Underperform at RBC Capital... Weatherford (WFT) upgraded to Strong Buy from Market Perform at Raymond James... Whole Foods (WFM) upgraded to Neutral from Underperform at Longbow... Wi-LAN (WILN) upgraded to Speculative Buy from Hold at Canaccord.
08:13 EDTCACICACI upgraded to Buy from Neutral at Citi
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06:03 EDTFIGFortress commences tender offer to repurchase up to $100M of Class A shares
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February 4, 2016
09:03 EDTMKTOMarketo and Wunderman partner for digital marketing solution
Marketo and Wunderman, a global digital agency, announced a strategic partnership designed to put data and measurement behind every customer interaction, a solution jointly called "insight-driven engagement." Through the partnership, brands that leverage Wunderman's full suite of services will now also be able to execute, track, and optimize their campaigns through Marketo.
February 3, 2016
16:27 EDTCACICACI sees NSS acquisition generating $400M-$450M in revenue
Following are the key factors related to the company's updated FY16 guidance: Expects that the acquisition of NSS will generate $400M-$450M in revenue and $10M-$15M of net income before $6M-$7M of one-time, after-tax acquisition-related costs in the second half of FY16. In addition, the company incurred about $3M of one-time, after-tax acquisition expenses in the first half. Depreciation and intangible amortization is now expected to be approximately $65M. Net interest expense is now expected to be approximately $42M. Expects that operating cash flow will be in excess of $225M.
16:24 EDTCACICACI raises FY16 EPS view to $5.37-$5.77 from $5.24-$5.65, consensus $5.52
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16:23 EDTCACICACI raises FY16 guidance
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16:22 EDTCACICACI reports Q2 EPS $1.23, consensus $1.17
Reports Q2 revenue $830.4M, consensus $815.69M.
11:33 EDTHPQCiti slashes PC outlook, expresses caution on related stocks
Citi significantly lowered its 2016 PC sales estimates, citing recent negative data points. In conjunction with the call, the firm lowered its estimates for three companies whose results are significantly affected by PC sales: HP Inc. (HPQ), Marvell (MRVL) and Intersil (ISIL). WHAT'S NEW: Citi analyst Jim Silva now expects PC sales to drop 6% this year, down from his previous estimate of a 2% decline. Recent data points indicate that demand for PCs has dropped significantly so far this year, while inventories are above normal, the analyst explained. Constrained budgets and macro concerns are restraining demand for PCs, Silva believes. Meanwhile, "there is not enough evidence" to conclude that the launch of Microsoft's (MSFT) Windows 10 will be a positive catalyst for PC sales this year, Silva said. Citing his view of PC trends, along with increased competition in the printer space, Silva lowered his 2016 EPS estimate for HP to $1.53 from $1.64. Statements by other printer makers, including Xerox (XRX) and Canon (CAJ), suggest that HP's margins on printers will "come under additional pressure," the analyst believes. He lowered his price target on the name to $10.75 from $14.50 and expects the stock to remain range-bound until analysts reduce their estimates further or its end markets improve. Intersil has 20% exposure to the PC market and the sales of its products related to computing are still strongly correlated with PC sales, Citi analyst Atif Malik stated. As a result, the company will face revenue headwinds throughout this year, stated the analyst. Malik, who expects the company's 2016 and 2017 EPS to come in below consensus levels, downgraded the stock to Sell from Neutral and set an $11.50 price target on the shares. Estimating Marvell's PC exposure at about 60%, Malik lowered his 2016 EPS estimate for the company to 42c from 48c and kept a Sell rating on the name. WHAT'S NOTABLE: Hedge fund Starboard Value disclosed this morning that it had bought a 6.7% activist stake in Marvell. The hedge fund said the shares are "undervalued" and The Wall Street Journal, citing sources familiar with the situation, said Starboard is betting the company can its boost margins by cutting costs, perhaps exiting its mobile device business. PRICE ACTION: In late morning trading, HP Inc. fell 3.3% to $9.55, Marvell rose 1.25% to $8.78 and Intersil dropped 4.4% to $11.93.
09:18 EDTHPQCitigroup to hold an analyst/industry conference call
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09:03 EDTMKTOMarketo names Jason Hoffman Chief Security Officer
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07:41 EDTHPQCiti lowers 2016 PC estimates to down 6% from down 2%
Citi analyst Jim Suva says recent data points indicate above normal PC inventories and "materially below seasonal demand" in early 2016. The analyst cut his 2016 PC estimates to down 6% from down 2%, well below IDC's estimate of down 3%. Suva believes there is a lack of evidence to suggest that Microsoft's (MSFT) Windows' 10 launch will drive a PC refresh in 2016. The analyst cut his estimates and price target for HP Inc. (HPQ) and kept a Neutral rating on the name.
07:04 EDTLLLCowen to hold a forum
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06:48 EDTHPQHP Inc. esimates and price target lowered at Citi
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February 2, 2016
07:18 EDTNBRJefferies sees relative value in Nabors Industries
Jefferies analyst Brad Handler believes shares of Nabors Industries (NBR) can outperform Patterson-UTI (PTEN) over the near term and Helmerich & Payne (HP) over the longer term. His analysis suggests Nabors likely avoids covenant breach and has adequate liquidity to weather the downturn. Handler keeps a Hold rating on Nabors, however, with a reduced price target of $7.
February 1, 2016
12:41 EDTCACI, LLLCACI completes acquisition of L-3 National Security Solutions
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10:00 EDTLLLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Air Products (APD) upgraded to Buy from Neutral at UBS... American Airlines (AAL) upgraded to Outperform from Market Perform at Cowen... Axiall (AXLL) upgraded to Overweight from Neutral at JPMorgan... BASF (BASFY) upgraded to Buy from Hold at Societe Generale... CNH Industrial (CNHI) upgraded to Neutral from Underperform at BofA/Merrill... CU Bancorp (CUNB) upgraded to Outperform from Market Perform at Fig Partners... CaixaBank (CAIXY) upgraded to Hold from Sell at Societe Generale... Chipotle (CMG) upgraded to Neutral from Underperform at BofA/Merrill... Concho Resources (CXO) upgraded to Buy from Neutral at SunTrust... Continental Building (CBPX) upgraded to Buy from Hold at BB&T... Eastman Chemical (EMN) upgraded to Buy from Outperform at CLSA... Extreme Networks (EXTR) upgraded to Buy from Hold at Needham... Glacier Bancorp (GBCI) upgraded to Outperform from Market Perform at Fig Partners... IBERIABANK (IBKC) upgraded to Strong Buy from Outperform at Raymond James... Infineon (IFNNY) upgraded to Buy from Neutral at UBS... Jarden (JAH) upgraded to Outperform from Market Perform at Raymond James... Joy Global (JOY) upgraded to Overweight from Equal Weight at Barclays... KT Corporation (KT) upgraded to Overweight from Neutral at JPMorgan... Kennametal (KMT) upgraded to Neutral from Underperform at BofA/Merrill... L-3 Communications (LLL) upgraded to Buy on valuation at BofA/Merrill... Maximus (MMS) upgraded to Outperform from Market Perform at Raymond James... Micron (MU) upgraded to Neutral from Sell at Goldman... Monster Beverage (MNST) upgraded to Outperform from Market Perform at Wells Fargo... Newell Rubbermaid (NWL) upgraded to Outperform from Market Perform at Raymond James... Northrop Grumman (NOC) upgraded to Buy from Neutral at BofA/Merrill... PTC (PTC) upgraded to Buy from Neutral at Sterne Agee CRT... Peoples Bancorp (PEBO) upgraded to Outperform from Neutral at Boenning & Scattergood... Praxair (PX) upgraded to Buy from Neutral at UBS... Proofpoint (PFPT) upgraded to Outperform from In-Line at Imperial Capital... Seagate (STX) upgraded to Hold from Sell at Benchmark... Siemens (SIEGY) upgraded to Buy from Neutral at Nomura... Superior Drilling (SDPI) upgraded to Buy from Hold at Wunderlich... Vertex (VRTX) upgraded to Buy from Hold at Jefferies... Werner (WERN) upgraded to Strong Buy from Outperform at Raymond James... ZAIS Financial (ZFC) upgraded to Overweight from Equal Weight at Barclays.
08:16 EDTLLLL-3 Communications upgraded to Buy on valuation at BofA/Merrill
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06:28 EDTLLLL-3 Communications upgraded to Buy from Underperform at BofA/Merrill
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