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Stock Market & Financial Investment News

News Breaks
September 12, 2013
10:13 EDTHMY, CTCT, AU, WEN, UVV, POR, MINI, FHN, CSH, ALL, WAG, UMPQ, PLCM, SJM, ECA, CFNL, ZNGA, STI, PLTOn 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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November 13, 2014
16:25 EDTMINIMobile Mini sees Evergreen Tank Solutions acquisition accretive to EPS in 2015
ETS’ full-year 2014 revenues are anticipated to be approximately $108M with adjusted EBITDA of $45M and an adjusted EBITDA margin of approximately 42%. The business has a fleet of over 10,000 units comprised predominantly of steel tank containers, roll-off and vacuum boxes and stainless steel tank trailers. ETS has proven expertise in downstream energy markets, with several direct petrochemical customer relationships, as well as significant industrial exposure. Mobile Mini expects modest cost synergies to be achieved as a result of the transaction. The acquisition is expected to be accretive to Mobile Mini’s free cash flow and earnings per share in 2015. Pro forma for the transaction as of September 30, Mobile Mini’s Debt-to-adjusted EBITDA ratio would have been approximately 4.8x. Mobile Mini expects strong cash flow to support deleveraging over the course of 2015.
16:23 EDTMINIMobile Mini to acquire Evergreen Tank Solutions for $405M in cash
Mobile Mini announced that it has signed a definitive agreement to purchase Houston, TX-based Evergreen Tank Solutions, a leading provider of specialty containment solutions, for $405M in cash. ETS, which directly serves large, blue-chip customers in the petrochemical, industrial and energy sectors, is the leader in integrated liquid and solid containment solutions in the Gulf region, and is the third largest provider of these services in the U.S. The company has approximately 300 employees in 28 locations throughout the country. The transaction is expected to close by the end of 2014, subject to customary closing conditions and regulatory approvals.
14:50 EDTWAGLonestar Capital to shut down by mid-2015, WSJ reports
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14:45 EDTWAGLonestar capital to shut down, DJ reports
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09:45 EDTCTCTConstant Contact management to meet with Barrington
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09:40 EDTZNGAActive equity options trading
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07:03 EDTCSHCash America completes spin-off of Enova International
Cash America International (CSH) announced the successful completion of the spin-off of Enova International which will begin “regular way” trading today on the New York Stock Exchange under the ticker symbol “ENVA.” Cash America’s board of directors began evaluating strategic alternatives for the possible separation of Enova in the spring of 2014, and in July it announced its intent to pursue the spin-off of Enova into a separate public company. The separation creates two companies oriented to serving the capital needs of consumers through distinctively different business models; one through a traditional storefront network and the other solely through the internet. At 12:01 a.m. Eastern Time today, each holder of Cash America common stock received shares of Enova common stock at a rate of 0.915 shares for each Cash America share owned as of November 3, 2014, which was the record date for distribution. The distribution was issued in book entry form only and no physical certificates were issued. Fractional shares of Enova were not distributed, and Cash America shareholders will receive cash in lieu of any fractional shares they would otherwise have been entitled to receive in the distribution. Today’s distribution of Enova qualifies as a tax-free distribution to shareholders of Cash America. Cash America's common stock will continue to trade on the NYSE under the ticker symbol “CSH.” Cash America and Enova now operate as two independent companies. Cash America retains ownership of 20% of Enova following today’s distribution.
November 12, 2014
12:13 EDTSJMJ.M. Smucker downgraded to Neutral from Buy at Northcoast
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10:00 EDTHMYOn The Fly: Analyst Upgrade Summary
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08:05 EDTSJMJ.M. Smucker cuts FY15 EPS excl items to $5.45-$5.65 from $5.95-$6.05
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08:04 EDTSJMJ.M. Smucker: Q2 results fell short of expectations due to coffee business
The company said, "Our rapid ascent of coffee prices to reflect higher green coffee costs took its toll on volume. The balance of our businesses performed well. As we move into the second half, we anticipate overall coffee volume trends will improve compared to our second quarter, but the pricing impact of higher green coffee costs will continue through the remainder of the fiscal year. Looking forward, we do not believe there has been a fundamental change to the at-home coffee category. However, our teams will continue to focus on tactical opportunities to address the current market environment."
08:03 EDTSJMJ.M. Smucker reports Q2 preliminary EPS excl. items $1.53, consensus $1.66
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07:31 EDTECABofA/Merrill to hold a conference
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06:19 EDTHMYHarmony Gold upgraded to Neutral from Sell at UBS
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06:04 EDTECAEncana reports Q3 EPS 38c, consensus 46c
Reports Q3 cash flow up 22% to $807M. Reports Q3 net earnings attributable to common shareholders were $2.8B, or $3.79 per share. Doug Suttles, Encana president and CEO stated, "Our Q3 results highlight the tremendous momentum we have built executing our strategy and we are now a full two years ahead of the targets we originally set for 2017. The steps we have taken to transform our portfolio and drive cost efficiencies have delivered an over 50% increase in upstream operating cash flow against an eight percent decline in overall production, compared to the same period in 2013. This highlights our focus on delivering value versus volumes. Consistent with the strategy we announced one year ago, we have built a balanced and resilient portfolio that comprises high-quality oil, natural gas liquids and natural gas investment opportunities."
November 11, 2014
13:55 EDTZNGAYuoTube hires Zynga executive to lead consumer products group, Re/code says
Google's (GOOG) YouTube has hired Manuel Bronstein, a Zynga (ZNGA) executive, to lead its consumer products group, says Re/code. According to the Re/code report, YouTube has had a series of notable managers depart in the last year. Reference Link
10:00 EDTZNGAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcentra Capital (ABDC) upgraded to Outperform from Market Perform at Keefe Bruyette... Ambac Financial (AMBC) upgraded to Neutral from Sell at MKM Partners... Banco Bilbao (BBVA) upgraded to Buy from Reduce at Nomura... Darden (DRI) upgraded at KeyBanc... ICU Medical (ICUI) upgraded to Overweight from Neutral at Piper Jaffray... IMAX (IMAX) upgraded to Buy from Neutral at Goldman... Juniper (JNPR) upgraded to Buy from Neutral at Nomura... Michaels (MIK) upgraded to Overweight from Equal Weight at Morgan Stanley... Midcoast Energy (MEP) upgraded to Outperform from Neutral at Credit Suisse... Midstates Petroleum (MPO) upgraded to Outperform from Market Perform at Northland... Monroe Capital (MRCC) upgraded to Outperform from Neutral at RW Baird... NuVasive (NUVA) upgraded to Outperform from Market Perform at Cowen... ONEOK Partners (OKS) upgraded to Outperform from Neutral at Credit Suisse... ORBCOMM (ORBC) upgraded to Overweight from Equal Weight at First Analysis... Pattern Energy (PEGI) upgraded to Outperform from Neutral at Macquarie... Targa Resources Partners (NGLS) upgraded to Outperform from Neutral at Credit Suisse... Time Warner (TWX) upgraded to Conviction Buy from Neutral at Goldman... Tremor Video (TRMR) upgraded to Buy from Hold at Jefferies... Western Gas Partners (WES) upgraded to Outperform from Neutral at Credit Suisse... Yamana Gold (AUY) upgraded to Overweight from Neutral at HSBC... Zynga (ZNGA) upgraded to Buy from Hold at Jefferies.
09:17 EDTZNGAOn The Fly: Pre-market Movers
UP AFTER EARNINGS: FMSA Holdings (FMSA), up 4.7% following third quarter results. ALSO HIGHER: AVEO Pharmaceuticals (AVEO), up 7.6% after entering agreement with Ophthotech (OPHT) to license tivozanib... Ophthotech is 2.1% higher in pre-market trading... Galena Biopharma (GALE), up 3.6% after first patient dosed in NeuVax and Herceptin combination Phase 2 trial... Yamana Gold (AUY), up 3% after being upgraded to Overweight from Neutral at HSBC... Ambac Financial (AMBC), up 3.1% after being upgraded to Neutral from Sell at MKM Partners... China Finance (JRJC), up 12.4% after announcing a new partnership with Great Wall Securities... Zynga (ZNGA), up 5.7% after being upgraded on mobile business growth at Jefferies... Fiat Chrysler (FCAU), up 2.2% after being initiated with a Conviction Buy at Goldman. DOWN AFTER EARNINGS: Applied Optoelectronics (AAOI), down 10.7%... Ekso Bionics (EKSO), down 2.2%. ALSO LOWER: Alibaba Group (BABA), down 1.6% following comments made by vice chairman Joseph Tsai in an interview.
07:36 EDTZNGAZynga upgraded on mobile business growth at Jefferies
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05:49 EDTZNGAZynga upgraded to Buy from Hold at Jefferies
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