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Stock Market & Financial Investment News

News Breaks
June 7, 2013
10:11 EDTVRA, DTEGY, KKPNY, MAIN, PNM, SCSC, TSN, UAL, VALE, KOF, BIP, BAYRY, LULU, BRCM, BRCD, ANF, SJM, KR, DNB, BT, YUMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abercrombie & Fitch (ANF) upgraded to Buy from Neutral at BofA/Merrill... BT Group (BT) upgraded to Overweight from Equal Weight at Barclays... Bayer (BAYRY) upgraded to Outperform from Neutral at Exane BNP Paribas... Broadcom (BRCM) upgraded to Outperform from Neutral at Macquarie... Brocade (BRCD) upgraded to Buy from Neutral at ISI Group... Brookfield Infrastructure (BIP) upgraded to Buy from Hold at TD Securities... Coca-Cola Femsa (KOF) upgraded to Neutral from Sell at Citigroup... Deutsche Telekom (DTEGY) upgraded to Buy from Hold at Jefferies... Dun & Bradstreet (DNB) upgraded to Neutral from Underweight at JPMorgan... J.M. Smucker (SJM) upgraded to Buy from Hold at Gabelli... KPN (KKPNY) upgraded to Outperform from Market Perform at Bernstein... Kroger (KR) upgraded to Buy from Neutral at Cleveland Research... Main Street (MAIN) upgraded to Outperform from Market Perform at Raymond James... PNM Resources (PNM) upgraded to Buy from Neutral at Ladenburg... Scansource (SCSC) upgraded to Buy from Neutral at Northcoast... Tyson Foods (TSN) upgraded to Overweight from Equal Weight at Stephens... United Continental (UAL) upgraded to Neutral from Sell at Goldman... Vale (VALE) upgraded to Outperform from Underperform at Bernstein... Vera Bradley (VRA) upgraded to Neutral from Underperform at Sterne Agee... Yum! Brands (YUM) upgraded to Buy from Neutral at UBS... lululemon (LULU) upgraded to Underperform from Sell at CLSA.
News For YUM;LULU;BRCM;BRCD;ANF;SJM;KR;DNB;BT;BAYRY;BIP;KOF;DTEGY;KKPNY;MAIN;PNM;SCSC;TSN;UAL;VALE;VRA From The Last 14 Days
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October 21, 2014
07:30 EDTUALU.S. airlines raise domestic one-way fares by $2 on average, Reuters reports
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07:08 EDTMAINMain Street announces $12M investment in East West Copolymer & Rubber
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07:05 EDTBRCMMicrosemi introduced its new RPF technology
Microsemi (MSCC) introduced at the Broadband World Forum, or BBWF, 2014 its new reverse power feed, or RPF, technology, a critical technology for FTTdp and G.fast deployments. G.fast, the new xDSL standard for 1gbps over copper, has a maximum expected range of 250 meters. Microsemi's RPF for DSL applications demonstrated at BBWF, are designed to be used in conjunction with the VDSL2 and G.fast chipsets from Broadcom (BRCM).
October 20, 2014
13:10 EDTVRASteve Madden tumbles after providing preliminary Q3 results, FY14 outlook
Shares of shoe and accessory company Steve Madden (SHOO) are tumbling after the company announced preliminary third quarter results that were below analysts' consensus along with a reduction to its fiscal year 2014 outlook. WHAT'S NEW: Steve Madden announced that it is anticipating Q3 earnings per share to be approximately 61c-62c and net sales of $392M, below analysts' consensus estimates of 67c and $415.72M, respectively. The company noted that retail comparable store sales for the quarter are anticipated to be down 7.4%. Steve Madden also reduced its FY14 EPS outlook to $1.81-$1.86 from $2.00-$2.10, well below analysts' $2.02 consensus. The company lowered its net sales projection for the year, and now sees net sales up 1%-2% over fiscal year 2013 versus its previous net sales guidance for up 2%-4% over FY13. The new guidance factors in the recent acquisition of Dolce Vita and current expectations for remainder of the year. On August 14, Steve madden acquired Dolce Vita for $60.3M in cash and previously said the deal would be accretive to earnings in FY14 by 2c-3c and be "modestly accretive" in FY15. WHAT'S NOTABLE: Steve Madden's Chief Executive Officer Edward Rosenfeld said that the company's Q3 earnings were "disappointing" and were the result of weaker than expected retail segment performance. He believes that retail trends in the footwear space will continue to be difficult through the fourth quarter due to a lack of noteworthy fashion trends in the industry. The CEO said that the company's full-year guidance results from this pattern, along with a lowered reorder outlook in its wholesale segment. Rosenfeld is still confident, however, in the company's business model and believes that its acquisitions of Dolce Vita and its Mexican licensee will fuel the business forward over the long term. OTHERS TO WATCH: Competitors of Steve Madden include Michael Kors (KORS), Coach (COH), Kate Spade (KATE), and Vera Bradley. PRICE ACTION: During afternoon trading, shares of Steve Madden fell $2.62 or 8.2%, to $29.32. Over the last twelve months, the stock has fallen over 15%.
07:26 EDTPNMPNM Resources upgraded to Buy from Hold at Argus
Argus upgraded PNM Resources to Buy with a $32 price target. The upgrade is based on improving earnings visibility, an expanding infrastructure improvement program, and focus on costs.
07:11 EDTBAYRYAmerican Society for Reproductive Medicine to hold annual meeting
2014 Annual Meeting of ASRM is being held in Honolulu on October 18-22.
October 17, 2014
17:16 EDTSJMJ.M. Smucker authorizes 5M additional share repurchases
The Board increased the company's share repurchase authorization by 5M common shares. Therefore, the company has a total of approximately 10M common shares available for repurchase under its Board authorizations. Future share repurchases will occur at management's discretion, and there is no guarantee as to the exact number of shares that will be repurchased.
10:43 EDTANFUrban Outfitters slumps after warning on continued retail sales weakness
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09:07 EDTTSNProtein stock pullback on Sanderson comments overdone, says BMO Capital
BMO Capital views yesterday's decline in Sanderson Farms (SAFM), Pilgrim's Pride (PPC) and Tyson Foods (TSN) as an overreaction to Sanderson's comments regarding breast prices falling to year-ago levels for the next four months. BMO notes that breast prices always dip in the fall. Following Sanderson's investor day, BMO said it sees a greater probability of chicken margins remaining at near-record levels in 2015. It keeps an Outperform rating on the stock.
07:39 EDTTSNChicken stock sell-off yesterday overdone, says JPMorgan
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October 16, 2014
17:10 EDTANFAbercrombie & Fitch, American Eagle lower after Urban Outfitters warns on sales
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15:35 EDTTSNSanderson Farms falls following investor day meeting
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12:00 EDTUALStocks with call strike movement; AAL UAL
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11:26 EDTDTEGYOrange, Deutsche Telekom talks on potential sale of EE revived, Bloomberg says
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11:20 EDTDTEGYOrange, Deutsche Telekom talks on potential sale of EE revived, Bloomberg says
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10:01 EDTLULUOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Akamai (AKAM) downgraded to Market Perform from Outperform at Wells Fargo... CGG SA (CGG) downgraded to Reduce from Neutral at Nomura... Central Valley Community (CVCY) downgraded to Hold from Buy at Sandler O'Neill... DSM (RDSMY) downgraded to Neutral from Buy at Nomura... Disney (DIS) downgraded at Guggenheim... Francesca's (FRAN) downgraded to Underperform from Outperform at Macquarie... Netflix (NFLX) downgraded to Fair Value from Buy at CRT Capital... Nordstrom (JWN) downgraded to Neutral from Outperform at Macquarie... Norfolk Southern (NSC) downgraded at Credit Suisse... Rio Tinto (RIO) downgraded to Market Perform at Cowen... Seadrill (SDRL) downgraded to Reduce from Neutral at Nomura... Ternium (TX) downgraded to Neutral from Overweight at JPMorgan... Urban Outfitters (URBN) downgraded to Neutral from Outperform at Macquarie... Viacom (VIAB) downgraded at BofA/Merrill... eBay (EBAY) downgraded to Underperform from Buy at CLSA... lululemon (LULU) downgraded to Underperform from Neutral at Macquarie.
07:11 EDTUALUnited Continental volatility elevated into Q3 results
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07:09 EDTMAINMain Street exits Spectrio investment with 16.3% internal rate of return
Main Street recently fully exited its investment in Spectrio LLC, a national provider of on-hold messaging and digital signage managed services. Main Street's initial investment in May 2009 consisted of a $5.7M senior secured, first lien debt investment with an equity warrant participation for 8.4% of the fully-diluted equity interests in Spectrio. Main Street realized a gain of approximately $3.9M on the redemption of its warrant by Spectrio. On a cumulative basis, Main Street realized an internal rate of return of 16.3% and a 1.7 times money invested return in aggregate on its debt and equity investment in Spectrio.
05:56 EDTVALEStocks with implied volatility movement; BX VALE
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05:39 EDTLULUlululemon downgraded to Underperform from Neutral at Macquarie
Macquarie downgraded lululemon to Underperform after assuming coverage of the stock saying the company's expansion into Asia and Europe will drive a meaningful increase in spending. The firm lowered its price target for shares to $34 from $40.
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