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Stock Market & Financial Investment News

News Breaks
February 12, 2014
07:16 EDTNRG, CVE, IBM, DUK, WM, SLB, MSInternational Business Forum to hold a summit
Cleantech Innovation Summit is being held in Newport Beach, CA on February 12.
News For WM;CVE;MS;DUK;NRG;SLB;IBM From The Last 14 Days
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January 28, 2016
15:19 EDTIBMEarnings Watch: Hard drive makers report with analysts upbeat on SanDisk deal
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15:18 EDTIBMIBM to acquire digital marketing and creative agency Resource/Ammirati
IBM announced its intent to acquire Resource/Ammirati -- a US-based digital marketing and creative agency -- combining the companies' strategic, creative and technology talents to "address rising demand from businesses seeking to reinvent themselves for the digital economy and provide differentiated experiences to their customers." This is IBM's first acquisition of a digital marketing creative agency, the company said. The deal is projected to close in the first quarter of 2016, subject to satisfaction of customary closing conditions and applicable regulatory reviews. Financial details were not disclosed.
12:47 EDTMSMorgan Stanley scales back principal strategic investments group, Reuters says
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07:39 EDTSLBCameron expects transaction with Schlumberger to close in 1Q16
January 27, 2016
09:29 EDTIBMFacebook data center project supported by telco heavyweights, FT reports
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06:01 EDTIBMIBM names Ford President and CEO Mark Fields to board, effective March 1
The IBM (IBM) board of directors yesterday elected Mark Fields to the board effective March 1, 2016. Fields is president and CEO, Ford (F). Ginni Rometty, IBM chairman, president and CEO, said: "We are pleased that Mark will be joining the IBM board of directors. Mark led the highly successful transformation of his company in a competitive industry where technology has driven innovation. He is leading Ford into a future where cars are not only vehicles, but increasingly becoming mobile technology platforms. His knowledge and insights in running a complex global business will make a significant contribution to IBM."
January 26, 2016
10:06 EDTIBMOptions with decreasing implied volatility
Options with decreasing implied volatility: SRPT GNC ALKS CALM NFLX CREE FFIV COH ISRG IBM
10:00 EDTCVEOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Amec Foster Wheeler (AMFW) downgraded to Hold from Buy at HSBC... CVR Refining (CVRR) downgraded to Sell from Neutral at Goldman... Cenovus Energy (CVE) downgraded to Neutral from Buy at UBS... Clean Harbors (CLH) downgraded to Underperform from Market Perform at Raymond James... Core Laboratories (CLB) downgraded to Reduce from Hold at HSBC... Delek US (DK) downgraded to Neutral from Buy at Goldman... Deutsche Post (DPSGY) downgraded to Underperform from Outperform at Credit Suisse... Disney (DIS) downgraded to Neutral on reduced ESPN forecasts at Atlantic Equities... Dorian LPG (LPG) downgraded to Market Perform from Outperform at Wells Fargo... Encana (ECA) downgraded to Neutral from Buy at UBS... Fortinet (FTNT) downgraded to Hold from Buy at Deutsche Bank... Fortune Brands (FBHS) downgraded to Neutral from Outperform at Credit Suisse... General Growth (GGP) downgraded to Equal Weight from Overweight at Barclays... Golden Ocean (GOGL) downgraded to Underweight from Neutral at JPMorgan... Grupo Mexico (GMBXF) downgraded to Neutral from Overweight at JPMorgan... Halliburton (HAL) downgraded to Hold from Buy at HSBC... Marketo (MKTO) downgraded to Underperform at BofA/Merrill... Navios Maritime (NM) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Underperform at BofA/Merrill... OM Asset Management (OMAM) downgraded to Equal Weight at Morgan Stanley... Paylocity (PCTY) downgraded to Underperform from Neutral at BofA/Merrill... Pennsylvania REIT (PEI) downgraded to Underweight from Equal Weight at Barclays... Pinnacle West (PNW) downgraded to Hold from Buy at Evercore ISI... Public Storage (PSA) downgraded to Equal Weight from Overweight at Barclays... Red Hat (RHT) downgraded to Neutral from Buy at BofA/Merrill... Regal Entertainment (RGC) downgraded on valuation at RBC Capital... Rouse Properties (RSE) downgraded to Equal Weight from Overweight at Barclays... Star Bulk Carriers (SBLK) downgraded to Neutral from Overweight at JPMorgan... Stratasys (SSYS) downgraded to Neutral from Overweight at JPMorgan... Subsea 7 (SUBCY) downgraded to Reduce from Hold at HSBC... US Ecology (ECOL) downgraded to Market Perform from Outperform at Raymond James... USG (USG) downgraded to Underperform from Neutral at Credit Suisse... Vornado (VNO) downgraded to Equal Weight from Overweight at Barclays... Weir Group (WEIGY) downgraded to Underperform from Hold at Jefferies.
10:00 EDTCVEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AMC Entertainment (AMC) upgraded on valuation, 2017 outlook at RBC Capital... America Movil upgraded to Overweight from Equal Weight at Morgan Stanley... BNC Bancorp (BNCN) upgraded to Buy from Hold at Gabelli... Casella Waste (CWST) upgraded to Strong Buy from Outperform at Raymond James... Cenovus Energy (CVE) upgraded to Buy from Neutral at Goldman... Cracker Barrel (CBRL) upgraded to Buy from Neutral at SunTrust... D.R. Horton (DHI) upgraded to Buy from Hold at Zelman... Edison International (EIX) upgraded to Buy from Hold at Evercore ISI... First Financial Bancorp (FFBC) upgraded to Buy from Hold at Sandler O'Neill... Hartford Financial (HIG) upgraded to Overweight from Neutral at Atlantic Equities... Heartland Financial (HTLF) upgraded to Buy from Hold at Sandler O'Neill... MFA Financial (MFA) upgraded to Overweight from Neutral at JPMorgan... National General (NGHC) upgraded to Overweight at Morgan Stanley... Navios Maritime Partners (NMM) upgraded to Overweight from Neutral at JPMorgan... PG&E (PCG) upgraded to Buy from Hold at Evercore ISI... SBA Communications (SBAC) upgraded to Buy from Hold at Stifel... Sally Beauty (SBH) upgraded to Outperform from Perform at Oppenheimer... Sanmina (SANM) upgraded to Neutral from Sell at Citi... Scorpio Bulkers (SALT) upgraded to Overweight from Neutral at JPMorgan... Southern Company (SO) upgraded to Hold from Sell at Evercore ISI... Southern Copper (SCCO) upgraded to Overweight from Neutral at JPMorgan... Vodafone (VOD) upgraded to Buy from Hold at Jefferies.
06:27 EDTCVECenovus Energy upgraded to Buy from Neutral at Goldman
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06:06 EDTCVECenovus Energy downgraded to Neutral from Buy at UBS
UBS analyst Michael Rimell downgraded Cenovus Energy to Neutral citing the recent outperformance of shares and the company's "significant dividend obligations." The analyst has a C$18 price target for the shares.
January 25, 2016
17:33 EDTSLBSchlumberger signs preliminary agreement for Fortuna FLNG project
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15:03 EDTNRGPJM-linked energy generators crash after Supreme Court upholds 'demand response'
Shares of Dynegy (DYN) and select peers are trading lower after the Supreme Court ruled in favor of the Federal Energy Regulatory Commission and its so-called demand response, an industry practice that seeks to encourage lower energy usage. The rule, which pays customers for not using power, effectively boosts supply and increases pressure on prices in the PJM power grid, the nation's biggest merchant power market. Dynegy, Talen (TLN), Exelon (EXC) and FirstEnergy (FE) are the largest merchant generators in PJM, according to Bloomberg data. PRICE ACTION: Dynegy has fallen roughly 11.2% to $9.92. Exelon, NRG Energy (NRG), Talen and Calpine (CPN) have slipped 2.8%, 7.8%, 5.2%, and 7.7%, respectively, while energy savings firm EnerNOC (ENOC) jumped nearly 78% in the wake of the ruling.
10:21 EDTDUKSupreme Court upholds FERC 'demand response' rule
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09:03 EDTMSMorgan Stanley announces appointment of 156 managing directors
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08:11 EDTIBMWestern Digital acquires over a hundred patents from IBM
Western Digital (WDC) announced that it has acquired more than 100 patent assets from IBM (IBM). The parties also entered into a patent cross-license agreement. Terms of the transaction were not disclosed. Patents acquired by Western Digital are in distributed storage, object storage, and emerging non-volatile memory. Western Digital expects the IP to further strengthen its technology leadership position and drive value creation for the company and its customers. The patents will augment Western Digital's existing portfolio of more than 10,000 patents and patent applications.
07:40 EDTSLBSchlumberger weakness a buying opportunity, says UBS
UBS said the weakness in Schlumberger is an attractive buying opportunity for long-term investors who wait patiently for an industry recovery. The company offers the least relative cyclicality in the sector, an attractive yield, and an $11B stock buyback program. UBS reiterated its Buy rating and $87 price target on Schlumberger shares.
07:32 EDTIBMTMC to hold a conference
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06:41 EDTSLBSchlumberger to gain unconditional EU approval for Cameron deal, Reuters says
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January 24, 2016
11:02 EDTSLB, MS, IBMStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
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