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07/30/15 04:14:28 PM
MARKET MOVERS

Movers: FARO Technologies Inc., Penn Virginia Corporation, Navigant Consulting Inc.

FARO Technologies Inc.(FARO) : Noble Financial upgrades Faro Technologies (NASDAQ: FARO) from Sell to Hold.-market sources View More Analyst Ratings for FAROView the Latest Analyst Ratings Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga PRO: http://pro.benzinga.com 2015 Benzinga Newswires. Benzinga does not provide investment advice. All rights reserved.



Penn Virginia Corporation(PVA) : Scotia downgrades Penn Virginia (NYSE: PVA) from Outperform to Sector Perform.-market sources View More Analyst Ratings for PVAView the Latest Analyst Ratings Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga PRO: http://pro.benzinga.com 2015 Benzinga Newswires. Benzinga does not provide investment advice. All rights reserved.



Navigant Consulting Inc.(NCI) : Avondale Partners upgrades Navigant Consulting (NYSE: NCI) from Market Perform to Outperform.-market sources View More Analyst Ratings for NCIView the Latest Analyst Ratings Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga PRO: http://pro.benzinga.com 2015 Benzinga Newswires. Benzinga does not provide investment advice. All rights reserved.



Whole Foods Market, Inc.(WFM) : In a report published Thursday, Morgan Stanley analyst Vincent Sinisi downgraded shares of Whole Foods Market, Inc. (NASDAQ: WFM) to Equal-Weight from Overweight with a price target lowered to $38 from a previous $56 after the company's third-quarter results put in to question its medium-term growth prospects. Sinisi noted that his previous bullish thesis on Whole Foods assumed early-stage initiatives would result in a reacceleration of sales. The analyst added that while this is still possible over the long term, the company's third-quarter print "makes us question" the medium-term growth outlook. See Also: Whole Foods Q3 Profit Misses Views, Shares Tumble Sinisi said Whole Foods gross margin declined greater than expected for the first time since Whole Foods made its price investments a key area of focus. The analyst explained the gross margin decline was due to the "magnitude and breadth of assortment" of its price investments. As such, this brings into question the extent to which the company may have to lower company-specific prices to improve its competitive position in the market. Looking forward, Sinisi pointed out Whole Foods' commentary during its post-earnings conference call that it runs its business for store productivity/hurdle rates, as opposed to same-store sales levels. This does give the analyst confidence in the "strong real estate abilities" of the company, but increases "uncertainty" on future same-store sales levels which will always be a key investor focus. Phil Terpolilli of Wedbush downgraded shares of Whole Foods to Neutral from Outperform with a price target lowered to $40 from a previous $54. Terpolilli commented that Whole Foods' long-term outlook remains "favorable" within the specialty grocer group based on its strategy adjustments which include further affinity rollout, 365 store launch, marketing efforts. However, the analyst added that "incremental negative headwinds" (such as the negative impact from the NYC investigation into pricing, mixed details on 365 stores) will limit the possibility of a "meaningful" share rebound in the near to medium term. With that said, Terpolilli noted it is wise to shift to a "wait-and-see approach" to determine if Whole Foods can recapture consumer trust and execute on its initiatives. Shares of Whole Foods opened Thursday's session down 11 percent. View More Analyst Ratings for WFMView the Latest Analyst Ratings Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga PRO: http://pro.benzinga.com 2015 Benzinga Newswires. Benzinga does not provide investment advice. All rights reserved.



Standard Motor Products Inc.(SMP) : Standard Motor Products, Inc. (NYSE: SMP), an automotive replacement parts manufacturer and distributor, today announced that its Board of Directors has authorized the purchase of up to an additional $10 million of its common stock under a stock repurchase program. This increase is in addition to the $10 million repurchase program previously authorized by the Board in February 2015, of which program approximately $3 million remains outstanding. Stock will be purchased from time to time, in the open market or through private transactions, as market conditions warrant. The Company intends to fund the stock repurchase program through its revolving credit facility. The stock repurchase program may be suspended or discontinued at any time. Any repurchased shares will be held as treasury stock and will be available for general corporate purposes, including funding existing equity compensation plans. Under the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, Standard Motor Products cautions investors that any forward-looking statements made by the company, including those that may be made in this press release, are based on management's expectations at the time they are made, but they are subject to risks and uncertainties that may cause See full press release Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga PRO: http://pro.benzinga.com 2015 Benzinga Newswires. Benzinga does not provide investment advice. All rights reserved.



Oshkosh Corporation(OSK) : July 30--With its overseas business hurt by a strong U.S. dollar, and some domestic equipment sales down, Oshkosh Corp. on Thursday reported a weaker than expected quarterly profit and cut its full-year profit forecast. The maker of military trucks and equipment used in construction said its net income in the third fiscal quarter ended June 30 fell to $89.7 million, or $1.13 per share, from $104.7 million, or $1.22 a share, in the same quarter a year ago. Quarterly revenue fell 16.6% to $1.61 billion as the strong dollar discouraged overseas sales and poor weather in parts of the United States put a damper on sales of telehandlers, scissor lifts and other equipment used in construction. Analysts on average expected Oshkosh to report a profit of $1.24 per share, on revenue of $1.73 billion, according to Thomson Reuters I/B/E/S. Oshkosh said it was cutting its full-year adjusted profit forecast to reflect lower sales in its access equipment business, which includes the telehandlers and scissor lifts, and accounts for about 58% of its total revenue. "Our access equipment segment sales fell short of our expectations for the third quarter, normally our seasonally best quarter, due to heavy rains in May, disrupting construction projects across the Southern U.S.," chief executive officer Charles Szews said in a statement. The company now expects adjusted profit of $3.00 to $3.25 per share for the full year. It had earlier forecast $3.75 to $4.00 per share. ___ (c)2015 the Milwaukee Journal Sentinel Visit the Milwaukee Journal Sentinel at www.jsonline.com Distributed by Tribune Content Agency, LLC.



Western Digital Corporation(WDC) : CLSA upgrades Western Digital (NASDAQ: WDC) from Underperform to Outperform and raises the price target from $87.00 to $93.00.-market sources View More Analyst Ratings for WDCView the Latest Analyst Ratings Write to editorial@benzinga.com with any questions about this content. Subscribe to Benzinga PRO: http://pro.benzinga.com 2015 Benzinga Newswires. Benzinga does not provide investment advice. All rights reserved.



Hornbeck Offshore Services, Inc.(HOS) : COVINGTON, La. (AP) Slumping activity in the Gulf of Mexico dropped Covington-based Hornbeck Offshore Services Inc.'s second-quarter profit to $19.2 million, or 53 cents per share, from $31.2 million, or 85 cents a share earlier. Revenue fell 20.3 percent to $136.4 million. The Advocate reports (http://bit.ly/1DSaraK) the results still easily beat Wall Street's expectations. Analysts surveyed by Zacks Investment Research had forecast earnings of 25 cents per share. Utilization rates for the company's new-generation offshore service vessel fleet slipped to 56 percent for the quarter, compared to 86 percent a year ago. Eighteen of Hornbeck's 60 new-generation vessels are stacked, the same as in the first quarter. A year ago, before oil prices began a long downward slide, none of Hornbeck's new-generation vessels were stacked. Information from: The Advocate, http://theadvocate.com



Rayonier Advanced Materials Inc.(RYAM) : JACKSONVILLE, Fla. (AP) _ Rayonier Advanced Materials Inc. (RYAM) on Thursday reported break-even earnings in its second quarter. The Jacksonville, Florida-based company said it had profit that was 1 cent per share. Earnings, adjusted for one-time gains and costs, were 39 cents per share. The maker of cellulose products posted revenue of $221 million in the period. Rayonier Advanced Materials shares have declined 34 percent since the beginning of the year. The stock has declined 60 percent in the last 12 months. This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on RYAM at http://www.zacks.com/ap/RYAM Keywords: Rayonier Advanced Materials, Earnings Report



Big 5 Sporting Goods Corp.(BGFV) : By a News Reporter-Staff News Editor at Economics Week -- According to news reporting originating from Washington, D.C., by VerticalNews journalists, a U.S. Securities and Exchange Commission (SEC) filing by Big 5 Sporting Goods Corp. (Form 4) was posted on July 22, 2015. The SIC code for this company is 5940, Retail Miscellaneous Shopping Goods Stores. There was one document filed with this form. The SEC file number is 0001216337-15-000029. The contact information for this company is 2525 EAST EL SEGUNDO BOULEVARD, EL SEGUNDO CA 90245-4632, (310) 297-7706. Our editors provided additional information about Form 4: Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the '34 Act must file with the Commission a statement of ownership regarding such security. The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5. The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities. A U.S. Securities and Exchange Commission filing is a formal document or financial statement submitted to the SEC by publicly-traded companies. For additional information on this SEC filing see: http://www.sec.gov/Archives/edgar/data/1156388/0001216337-15-000029-index.html. Keywords for this news article include: SEC Filing, Big 5 Sporting Goods Corp., Retail Miscellaneous Shopping Goods Stores. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2015, NewsRx LLC



Nektar Therapeutics(NKTR) : By a News Reporter-Staff News Editor at Pharma Business Week -- According to news reporting originating from Washington, D.C., by NewsRx journalists, a U.S. Securities and Exchange Commission (SEC) filing by Nektar Therapeutics (Form 4) was posted on July 16, 2015. The SIC code for this company is 2834, Pharmaceutical Preparations. There was one document filed with this form. The SEC file number is 0001209191-15-061166. The contact information for this company is 455 MISSION BAY BOULEVARDSOUTH, SAN FRANCISCO CA 94158, 4154825300. Our editors provided additional information about Form 4: Every director, officer or owner of more than ten percent of a class of equity securities registered under Section 12 of the '34 Act must file with the Commission a statement of ownership regarding such security. The initial filing is on Form 3 and changes are reported on Form 4. The Annual Statement of beneficial ownership of securities is on Form 5. The forms contain information on the reporting person's relationship to the company and on purchases and sales of such equity securities. A U.S. Securities and Exchange Commission filing is a formal document or financial statement submitted to the SEC by publicly-traded companies. For additional information on this SEC filing see: http://www.sec.gov/Archives/edgar/data/1206869/0001209191-15-061166-index.html. Keywords for this news article include: Pharmaceutical Companies, Pharmaceutical Preparations, SEC Filing, Nektar Therapeutics, Biotechnology Companies. Our reports deliver fact-based news of research and discoveries from around the world. Copyright 2015, NewsRx LLC



 

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