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Stock Market & Financial Investment News

News Breaks
July 29, 2014
17:06 EDTWIN, FTR, T, VZ, CTL, UPS, CLF, PGTI, GLWOn The Fly: Closing Wrap
Stocks on Wall Street were lower amid new sanctions from both the U.S. and Europe against Russia. The sanctions news that came out throughout the session overshadowed a better than expected consumer confidence reading and another round of earnings reports. ECONOMIC EVENTS: In the U.S., the S&P Case Shiller home price index rose 9.34% from the prior year in May to 170.64, which was a bit below the expectation for a 9.9% year-over-year increase. The Conference Board's consumer confidence reading climbed to 90.9 in July from an upwardly revised 86.4 June figure, beating expectations for a 85.4 reading and reaching its highest level since October 2007. Also, the U.S. and European Union both announced new sanctions against Russia, including some against some of the nation's largest banks. COMPANY NEWS: Shares of Windstream (WIN) rose $1.30, or 12.35%, to $11.83 after the company announced that it would spin off some of its assets into a real estate investment trust, or REIT. The implications of the ruling Windstream received from the IRS and the company's plan reverberated throughout the telecommunications sector, as illustrated by Frontier Communications' (FTR) shares also gaining 85c, or 14.31%, to $6.79. However, UBS analyst Scott Arwin said he does not expect large telecom companies like Verizon (VZ) and AT&T (T) to follow Windstream's lead, as he does not think the larger companies will want to open their networks to competitors at regulated rates. Raymond James similarly said it believes Verizon has looked at potential REIT transactions in the past, and that itís doubtful the company would be comfortable not owning its assets and that AT&T and CenturyLink (CTL) may be in similar positions. MAJOR MOVERS: Among the notable gainers was PGT Inc. (PGTI), which gained $2.02, or 27.33%, to $9.41 after reporting better than expected quarterly results and agreeing to buy CGI Windows & Doors for about $111M. Also higher was Cliffs Natural Resources (CLF), which rose $1.03, or 6.21%, to $17.62 after activist shareholder Casablanca Capital announced that all six of its nominees have been elected to Cliffs' board of directors according to preliminary estimates. Among the noteworthy losers was UPS (UPS), which fell $3.80, or 3.7%, to $98.86 after reporting Q2 adjusted earnings per share that missed expectations and lowering its fiscal year earnings outlook, citing its plans to increase operating expenses for capacity and peak season related projects. Also lower were shares of Corning (GLW), which fell $2.05, or 9.3%, to $20.00 after reporting on its Q2 results and guiding its Q3 LCD glass volume to be up by a mid-single digit percentage sequentially. INDEXES: The Dow fell 70.48, or 0.42%, to 16,912.11, the Nasdaq dropped 2.21, or 0.05%, to 4,442.70, and the S&P 500 declined 8.96, or 0.45%, to 1,969.95.
News For WIN;FTR;T;VZ;CTL;UPS;CLF;PGTI;GLW From The Last 14 Days
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October 17, 2014
06:09 EDTCLFCliffs Natural expects to record non-cash impairment of about $6B in Q3
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October 16, 2014
08:29 EDTTAT&T sees 359K customers seek refunds for 'cramming' charges, Time reports
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October 15, 2014
13:16 EDTGLWCorning upgraded to Buy from Hold at Standpoint Research
10:51 EDTWINWindstream awarded four-year contract valued at $1.1M to deliver VLS network
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10:11 EDTT, FTRFrontier granted PURA approval for AT&T wireless ops. in Connecticut
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08:59 EDTCLFCliffs Natural price target lowered to $4 from $8 at BofA/Merrill
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October 14, 2014
17:56 EDTCLFCliffs Natural looks to sell Bloom Lake mine, Globe and Mail says
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10:01 EDTGLWOn The Fly: Analyst Downgrade Summary
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09:37 EDTVZActive equity options trading on open
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08:13 EDTGLWCorning downgraded to Neutral from Buy at BofA/Merrill
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08:13 EDTVZCorvex says Crown Castle, Verizon deal would 'diversify' revenues
Corvex said, "A Verizon (VZ) tower deal would diversify Crown Castle's (CCI) revenues and deepen the company's relationship with arguably the U.S.'s strongest wireless company and operator of the country's most robust network. As the largest and most-focused U.S. tower operator and the largest operator of legacy carrier portfolios, Crown Castle could be the best strategic acquirer of Verizon's tower assets. That does not mean the company will be best positioned financially to provide the highest and best bid though. Based on recent press articles, the potential sale price for the Verizon towers could be approximately $6B. However, we strongly believe that the company should not issue any equity at recent prices, and certainly not to acquire more tower assets at premium prices when Crown Castle continues to trade at a material discount to both transaction multiples and publicly traded peers."
07:21 EDTCLFCliffs Natural in pact with Casablanca on certain standstill, voting obligations
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06:02 EDTGLWCorning downgraded to Neutral from Buy at BofA/Merrill
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October 13, 2014
10:08 EDTCLFOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
09:39 EDTCLFActive equity options trading on open
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06:49 EDTCLFCliffs Natural downgraded to Neutral from Overweight at JPMorgan
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October 10, 2014
15:27 EDTCLFCliffs held preliminary talks on iron ore assets with Glencore, WSJ says
Glencore had talks that were described as "very preliminary" with Cliffs Natural Resources about its Australian iron ore assets, according to The Wall Street Journal, citing people familiar with the matter. Shares of Cliffs spiked higher following the first headlines from the report, but are now down about 1% in late afternoon trading. Reference Link
15:16 EDTCLFCliffs Natural held preliminary talks on iron ore assets with Glencore, DJ says
October 9, 2014
12:01 EDTTAT&T announces agreement with Accuris, BSG
AT&T, Accuris Networks and BSG Wireless announced an agreement to bring to market the new AT&T Wi-Fi Hub. This hub will make it possible for wireless operators to deliver turnkey Wi-Fi roaming services to their customers.
09:33 EDTVZGE, Verizon announce alliance
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