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Stock Market & Financial Investment News

News Breaks
September 12, 2013
10:13 EDTUMPQ, PLCM, SJM, ECA, CFNL, ZNGA, STI, PLT, HMY, CTCT, AU, WEN, UVV, POR, MINI, FHN, CSH, ALL, WAGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Allstate (ALL) upgraded to Outperform from Market Perform at Wells Fargo... AngloGold (AU) upgraded to Neutral from Underweight at JPMorgan... Cardinal Financial (CFNL) upgraded to Outperform from Market Perform at Keefe Bruyette... Cash America (CSH) upgraded to Outperform from Market Perform at JMP Securities... Constant Contact (CTCT) upgraded to Buy from Neutral at Janney Capital... Encana (ECA) upgraded to Outperform from Sector Perform at RBC Capital... First Horizon (FHN) upgraded to Buy from Neutral at Compass Point... Harmony Gold (HMY) upgraded to Overweight from Neutral at JPMorgan... J.M. Smucker (SJM) upgraded to Buy from Neutral at Northcoast... Mobile Mini (MINI) upgraded to Outperform from Neutral at RW Baird... Plantronics (PLT) upgraded to Outperform from Market Perform at Raymond James... Polycom (PLCM) upgraded to Outperform from Market Perform at Raymond James... Portland General Electric (POR) upgraded to Buy from Hold at KeyBanc... SunTrust (STI) upgraded to Buy from Neutral at Compass Point... Umpqua Holdings (UMPQ) upgraded to Outperform from Sector Perform at RBC Capital... Universal Corporation (UVV) upgraded to Buy from Neutral at Davenport... Walgreens (WAG) upgraded to Conviction Buy from Buy at Goldman... Wendy's (WEN) upgraded to Buy from Hold at Argus... Zynga (ZNGA) upgraded to Equal Weight from Underweight at Evercore.
News For WAG;WEN;ZNGA;ALL;AU;CFNL;CSH;CTCT;ECA;FHN;HMY;SJM;MINI;PLT;PLCM;POR;STI;UMPQ;UVV From The Last 14 Days
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December 16, 2014
12:26 EDTECAOn The Fly: Midday Wrap
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10:57 EDTECACanadian energy stocks rise after Talisman acquired by Repsol
Shares of Canadian energy companies are higher this morning after Repsol (REPYY) announced plans to buy Talisman Energy (TLM) for $8 per share in cash. WHAT'S NEW: Canada-based Talisman announced that it has agreed to be acquired by Spain's Repsol in a transaction valued at approximately $13B, including debt. Under the terms of the agreement, Repsol will buy all outstanding common shares of Talisman for $8 per share in cash. Also under the deal, Talisman will pay aggregate cash dividends of 18c per common share prior to closing. The Talisman board is recommending shareholders accept the deal at a special meeting to be held in mid-February 2015. The transaction is expected to close in the second quarter of 2015, Talisman said. Talisman Chairman Chuck Williamson noted that the deal will create "significant and immediate value" for the company's investors. WHAT'S NOTABLE: Repsol first explored a bid for Talisman in July, but talks slowed in late August. Earlier this month, Bloomberg reported the companies revived talks and The Wall Street Journal said "talks moved quickly" from there. Canada Pension Plan Investment Board, which initially considered buying parts of Talisman, was also weighing a bid for the whole company, according to Bloomberg, citing people with knowledge of the matter. ANALYST REACTION: Talisman Energy was downgraded this morning to Market Perform from Outperform at Bernstein. PRICE ACTION: Talisman Energy is up $2.43, or 47.5%, to $7.55 in morning trading and Repsol shares trading in New York are down 1.5% to $19.15. OTHERS TO WATCH: Other Canadian energy companies traded in New York include Encana (ECA), Suncor (SU), Canadian Natural Resource (CNQ) and Imperial Oil (IMO). Of note, Encana this morning announced a 2015 capital program of $2.7B-$2.9B, with about 80% directed to the Montney, Duvernay, Eagle Ford and Permian, its highest margin growth plays. The company expects total cash flow between $2.5B-$2.7B, reflecting the impact of higher margin production and continued cost efficiencies, partially offset by anticipated lower commodity prices. In morning trading, Encana shares rose 9.2% to $12.69, Suncor gained 5.3% to $28.33, Canadian Natural Resource added 4.8% to $28.62 and Imperial Oil advanced 2.5% to $40.88.
06:04 EDTECAEncana announces $2.7B$2.9B 2015 capital program
Encana announced a highly focused 2015 capital program of $2.7B-.$2.9B, with approximately 80% directed to four of its highest margin growth plays; the Montney, Duvernay, Eagle Ford and Permian. Encana expects to generate approximately 75% of its 2015 cash flow from oil and liquids production. The company estimates total liquids production will grow approximately 70% compared to 2014 to between 140,000 and 160,000 barrels per day, or bbls/d, and anticipates overall production of between 405,000 and 440,000 barrels of oil equivalent per day (boe/d). Encana expects total cash flow between $2.5B-$2.7B, reflecting the impact of higher margin production and continued cost efficiencies, partially offset by anticipated lower commodity prices. Encana is committed to protecting its balance sheet through a prudent capital investment program. The company's 2015 capital program is based on assumptions of $70 WTI oil prices and NYMEX natural gas prices of $4 per MMBtu. In addition, the company expects to generate net proceeds of around $800M in the Q1 of FY15 through the completion of the previously announced divestiture of the majority of its Clearwater assets and other anticipated transactions.
December 15, 2014
16:15 EDTFHNFirst Horizon initiated with a Buy at Guggenheim
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16:14 EDTSTISunTrust initiated with a Neutral at Guggenheim
December 12, 2014
13:27 EDTECAEncana to hold a conference call
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December 11, 2014
08:28 EDTWAGWalgreen CEO retirement a positive, says Citigroup
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07:28 EDTWAGCBI to hold a summit
2nd Specialty Data Optimization Summit is being held in Philadelphia on December 11.
December 10, 2014
18:31 EDTWAGOn The Fly: After Hours Movers
UP AFTER EARNINGS: Restoration Hardware (RH), up 5.9%... Casey's General Stores (CASY), up 1.6%. ALSO HIGHER: Walgreen (WAG), up 1.7% after CEO Greg Wasson announces intention to retire after Alliance merger. DOWN AFTER EARNINGS: Wet Seal (WTSL), down 38.9%... Lakeland Industries (LAKE), down 8.2%... Men's Wearhouse (MW), down fractionally. ALSO LOWER: Burlington Stores (BURL), down 1.4% after filing to sell 8M shares of common stock for holders... Nielsen (NLSN), down 1.9% after filing to sell 20M shares of common stock for holders.
17:07 EDTSJMJ.M. Smucker announces price increases on K-cup packs
The J. M. Smucker Company announced that it is increasing the list price on its K-Cup packs sold in the United States under the Folgers, Folgers Gourmet Selections, Cafe Bustelo, and Millstone brand names. Prices will increase an average of 8%. The price increase, which will be effective on January 5, 2015, is in response to sustained increases in costs.
16:19 EDTWAGWalgreen CEO Greg Wasson announces retirement after Alliance merger
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10:00 EDTWAGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 3D Systems (DDD) initiated with an Underperform at Longbow... AutoZone (AZO) initiated with a Buy at Nomura... C.H. Robinson (CHRW) initiated with a Neutral at Nomura... CSX (CSX) initiated with a Buy at Nomura... CVS Health (CVS) initiated with a Neutral at Citigroup... Canadian National (CNI) initiated with a Neutral at Nomura... Carrizo Oil & Gas (CRZO) initiated with a Buy at Canaccord... CenterPoint Energy (CNP) initiated with a Neutral at Nomura... Con-way (CNW) initiated with a Neutral at Nomura... Cornerstone OnDemand (CSOD) initiated with a Buy at BofA/Merrill... Depomed (DEPO) initiated with an Outperform at RBC Capital... Dollar General (DG) initiated with a Buy at Citigroup... Dollar Tree (DLTR) initiated with a Neutral at Citigroup... Dynagas LNG (DLNG) initiated with a Buy at ABN Amro... EMC (EMC) initiated with a Neutral at JPMorgan... Energy Focus (EFOI) initiated with a Buy at Roth Capital... Expeditors (EXPD) initiated with a Neutral at Nomura... GasLog (GLOG) initiated with a Buy at ABN Amro... Genesee & Wyoming (GWR) initiated with a Neutral at Nomura... Golar LNG (GLNG) initiated with a Sell at ABN Amro... HII Technologies (HIIT) initiated with a Buy at Roth Capital... Hudbay Minerals (HBM) initiated with an Overweight at Barclays... J.B. Hunt (JBHT) initiated with a Buy at Nomura... Kansas City Southern (KSU) initiated with a Buy at Nomura... Kroger (KR) initiated with a Buy at Citigroup... Lear (LEA) initiated with a Buy at Northcoast... Lundin Mining (LUNMF) initiated with an Overweight at Barclays... NetApp (NTAP) initiated with a Neutral at JPMorgan... Norfolk Southern (NSC) initiated with a Neutral at Nomura... PROS (PRO) initiated with an Outperform at Pacific Crest... Qlik Technologies (QLIK)initiated with a Buy at BofA/Merrill... Rentokil (RTOKY) initiated with a Neutral at UBS... Revolution Lighting (RVLT) initiated with a Buy at Roth Capital... ServiceNow (NOW) initiated with a Buy at BofA/Merrill... Stratasys (SSYS) initiated with a Neutral at Longbow... Suburban Propane (SPH) initiated with a Hold at Stifel... Tableau (DATA) initiated with a Buy at BofA/Merrill... Teekay LNG (TGP) initiated with a Buy at ABN Amro... Tessera (TSRA) initiated with a Buy at Sidoti... Union Pacific (UNP) initiated with a Buy at Nomura... Viper Energy (VNOM) initiated with a Buy at Stifel... Visteon (VC) initiated with a Buy at Northcoast... Walgreen (WAG) initiated with a Buy at Citigroup... Werner (WERN) initiated with a Neutral at Nomura.
06:18 EDTWAGWalgreen initiated with a Buy at Citigroup
Target $80.
December 9, 2014
11:40 EDTSTISunTrust CEO says overcoming low interest rates with growth
Comment made on CNBC interview.
10:23 EDTALLOn The Fly: Analyst Initiation Summary
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10:23 EDTWAGOn The Fly: Analyst Downgrade Summary
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06:57 EDTALLAllstate initiated with an Overweight at JPMorgan
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06:11 EDTWAGWalgreen downgraded to Neutral from Buy at Mizuho
Mizuho downgraded Walgreen to Neutral based on limited EPS upside, sub-par base business organic growth, execution risk with Alliance Boots due to management turnover, international and currency risk, and valuation. Price target is $72.
December 8, 2014
11:48 EDTSTISunTrust downgraded to Hold from Buy at Standpoint Research
11:30 EDTWAGLeerink generics pharmaceutical analyst holds analyst/industry conference call
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