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Financial News from Barrons.com

  • Needham & Co.'s James Ricchiuti today reiterated a Buy rating on shares of 3-D printer maker 3D Systems (DDD), but cut his price target to $65 from $70, after trimming estimates to reflect the acquisition of of Israeli firm Simbionix, which makes virtual reality-like simulation software to train doctors on operating room …

  • Your evening reading: Valuation variations for S&P 500 stocks are near record lows. Lu Wang and Joseph Ciolli, Bloomberg. Three ETF predictions for the fourth quarter. Dave Nadig, ETF.com. Hedge funds ...

  • Pundits have been quick to criticize the speed of reform in India under new Prime Minister Narendra Modi. Tuesday marked Modi's 100th day as leader of the nation of more than 1.2 billion people. If the record-setting Indian market is any measure in the past 100 days, Modi's strength shouldn't be in doubt: the MSCI India …

  • Shares of online restaurant orders purveyor GrubHub (GRUB) are down 53 cents, or 1.4%, at $38.79, in late trading, after the company this afternoon filed the formal prospectus with the Securities & Exchange ...

  • [$$] There is No Bond Bubble @ Barrons.com - 3 hours ago

    As the yield on the benchmark 10-year Treasury note slipped beneath the 2.40% mark last week, talk about bonds being in a bubble ramped up again. Of course, we've heard that chatter for quite some time as investors have chased yield. The charts say no. It is no shock that the stronger the economy, the more likely the …

  • Shares of insurance software maker Guidewire (GWRE) are up $4.73, or  over 10%, at $50.55, after the company this afternoon reported fiscal Q4 results that topped analysts' estimates. CEO Marcus Ryu noted the company's "Tier 1 wins" in its new software licenses, and expanded relationships with existing customer.

  • Shares of Concur Technologies (CNQR), which makes expense accounting software for corporations using cloud computing technology, are up $21.18, or over 20%, at $122.13, after Bloomberg Television a short ...

  • Bankers are definitely back from vacation today judging by the deluge of new corporate bond issuance that's already in the works this week. After an arid August that saw just $56 billion of corporate bond issuance, the lowest single-month total in nearly four years, Janney Montgomery Scott today says there's already a …

  • Shares of contract manufacturer Flextronics (FLEX) are up 65 cents, or almost 6%, at $11.75, in late trading, after the company said its shareholders approved repurchase of as much as 20% of its stock, and that its board approved purchase of up to $500 million. Flextronics has a market cap of $6.53 billion, so 20% would …

  • For more than two years, Wall Street's love affair with drug makers has been fueled by the race to launch exciting new cancer drugs and oral therapies for hepatitis C. This weekend, Swiss drug maker Novartis (NVS) got a big shot in the arm from a new drug that could be the biggest breakthrough in the treatment of heart …

  • Pacific Crest Securities We believe 2014 has not been kind to high-growth software stocks. Estimates for 2015 and 2016 are generally calling for massive deceleration. The deceleration is overstated, so ...

  • Here are some things going on today in your world of tech: Following reports over the weekend that photos of celebrities were stolen from Apple's (AAPL) iCloud online service, the company this afternoon issued a statement on the matter, saying that a 40-hour investigation found that "certain celebrity accounts were compromised …

  • Morgan Stanley's Adam Parker and team note that the U.S. economy could continue to grow for five more years, while the S&P 500 might make its way to 3,000. They explain why: Business cycles don't die of ...

  • As Rates Rise, India Safer Than Brazil @ Barrons.com - 4 hours ago

    Brazil's markets have rallied on rampant optimism that the government will change, and a somewhat subdued threat of a U.S. With similar optimism lifting India's market over the past year, so it may be for Brazil in coming weeks, writes Steven Wieting, global chief investment strategist at Citi. Indeed, shares of state-controlled …

  • For clothiers Gap (GPS) and Abercrombie & Fitch (ANF) that means analysts checking in on their stocks for signs of improvement. Up first is Abercrombie & Fitch, which made news last week after the company announced it plans to remove logos from its clothing. JP Morgan analyst Brian Tunick appears unimpressed with Abercrombie …

  • Still, analysts were out with their opinions on oil majors ExxonMobil (XOM), Chevron (CVX) and BP (BP), though the market sees little need to differentiate today. Oppenheimer's Fadel Gheit and Robert Du Boff, for instance, came out in favor of Chevron but more muted on ExxonMobil... Although Chevron reduced its 2014 production …

  • Gold prices suffered again on Tuesday, tumbling to a two-month low following Friday's decline. HSBC's James Steel, in a note out on gold today, writes about the fact that gold is being pulling in opposite directions. On the one hand, gold ETFs aren't bleeding funds as they were for much of last year and output from gold …

  • Chile announced an economic stimulus package Monday that speaks to a deceleration that is proving to be worse and lengthier than expect. Pres. Michelle Bachelet announcd a six-plank package, described ...

  • Credit Suisse analysts Gary Balter and Andrew Kinder make the case for a Staples (SPLS)/Office Depot (ODP) merger: ...we believe this is a highly synergistic combination that has been essentially blessed by the FTC's wording from the Office Depot/OfficeMax deal, and can finally position the remaining player to compete with …

  • Stocks are falling today but that hasn't stopped airline stocks like American Airlines (AAL), Delta Air Lines (DAL) and United Continental (UAL) from taking flight. The reason: falling oil prices. WTI ...

  • Three Reasons Petrobras Thrives Under Silva @ Barrons.com - 6 hours ago

    Brazilian presidential candidate Marina Silva released her platform late last week, fueling muted praise for shares of state-controlled energy giant Petrobras. Shares of Petroleo Brasileiro (PBR) are up 3.47% today to $20.23. On the Brazil exchange, shares are up nearly 2%: (PETR3.Brazil) shares are up 1.69% to $22.87 …

  • Analysts today were reflecting on Samsung Electronics's (005930KS) mobile devices slump, though bulls argue there is little downside to the stock at a recent ₩1,194,000. All this comes as Samsung gets ready to hold a mobile product unveiling in New York City tomorrow morning. Macquarie Research's Daniel Kim reiterates …

  • Banco do Brasil Jumps 5% On Upgrade @ Barrons.com - 7 hours ago

    Credit Suisse upgraded Banco do Brasil Monday citing its valuation and earnings growth potential. U.S. shares of Banco do Brasil (BDORY and BBAS3.Brazil) rose more than 5% on Monday to $16.35 on the new ...

  • Dollar General: 'Approaching Desperation?' @ Barrons.com - 7 hours ago

    Dollar General (DG) upped its bid for Family Dollar (FDO) to $9.1 billion as it seeks to keep it out of the arms of Dollar Tree (DLTR). Susquehanna's Bob Summers and Michael Ramirez are starting to worry: ...

  • [$$] Put Aside PulteGroup @ Barrons.com - 7 hours ago

    PulteGroup (PHM:NYSE) By FBR Capital Markets ($19.22, Sept. 2, 2014) We are downgrading PulteGroup to Market Perform from Outperform given relative valuation and performance over the last 12 months versus our home-building coverage universe.

  • Folks, this is what makes a market: There's some difference of opinion, however minor, between different Apple (AAPL) analysts as we roll toward the company's media event next Tuesday, September 9th, at which the company is expected to unveil new iPhones, and also show off its first wearable computer. As I mentioned earlier, …

  • Shares of networking equipment Arista Networks (ANET) are up 97 cents, or 1.2%, at $84.82, after SunTrust Robinson Humphrey's Inder Singh this morning initiated coverage of the stock with a Buy rating ...

  • Shares of Regeneron (REGN) have surged today after the biotech company said an anti-cholesterol drug performed well in a drug trial. Credit Suisse analyst Jason Kantor and team explain why they upped their target on Regeneron to $400 from $340... We are increasing our target to $400, which includes higher value for alirocumab, …

  • Conn's: Bad Credit, Big Losses @ Barrons.com - 8 hours ago

    Conn's also lowered its full-year outlook to a range of $2.80 to $3.00, down from $3.40 to $3.70. Canaccord's Laura Champine and Jason Smith explain what happened to Conn's: The credit segment reported its second net operating loss in three quarters, driven primarily by a higher provision for bad debt. The company suffered …

  • Ahead of Apple's (AAPL) media event next Tuesday, September 9th, the Street is somewhat pre-occupied with the notion that new iPhones unveiled will include a mobile payments, or mobile wallet function. Last Friday brought a piece from The Financial Times stating NXP Semiconductors (NXPI) will provide a near-field communications, …

  • Shares of daily Internet deals purveyors Groupon (GRPN) are up 17 cents, or 2.5%, at $6.97, after RBC Capital Markets's Mark Mahaney this morning raised his rating on the shares to Sector Perform from Underperform, and raised his price target to $6 from $5, writing that 43% decline in the shares this year gives the stock …

  • Shares of Apple (AAPL) are up $1.07, or 1%, at $103.57, and earlier hit a new lifetime high of $103.74, after Piper Jaffray's Gene Munster reiterated an Overweight rating and raised his price target to ...

  • No, the Biotech Rally Isn't Over @ Barrons.com - 8 hours ago

    After big rallies by biotech stocks, the folks at Weeden wondered if the rally getting overdone. UBS analyst Matthew Roden and team think biotech stocks like Gilead Sciences (GILD), Celgene (CELG), Vertex Pharmaceuticals (VRTX), Puma Biotechnology (PBYI) and Achillion Pharmaceuticals (ACHN) can keep running. None of our …

  • Reasons To Get Cautious on Brazil Bonds @ Barrons.com - 8 hours ago

    The inverted yield curve in Brazil means get more cautious on the nation's bonds, especially with the October presidential election looming. So writes Pavillion Global Markets, which reversed course from its opinion issued in May. Pavillion writes: Investors and the market are "pricing in a considerable reduction in structural …

  • Wedbush Dollar General management reiterated it believes it has a superior proposal for Family Dollar Stores to that of Dollar Tree and that it does not believe that there will be anti-trust issues given its extensive research on the topic. Given Family Dollar's (FDO) rejection of Dollar General's (DG) proposal based …

  • Stock Picks For An Emerging Markets Selloff @ Barrons.com - 9 hours ago

    While there is a widespread belief that an increase in U.S. interest rates will bring emerging market stocks to their knees, that conclusion is not borne out by history. So writes Markus Rosgen at Citi, ...

  • In upgrading Tesla Motors (TSLA) to Buy from Hold, Stifel's James Albertine hasn't put aside his concerns--they just don't matter for the stock.

  • Russian Ruble, Stocks Continue To Tumble @ Barrons.com - 10 hours ago

    The ruble continued a six-day losing streak Monday after dropping to its worst valuation since the currency was restructured in 1998. Contributing: the threat of more sanctions against Russia looms. Talks ...

  • Bumper Crops Weigh On Ag ETFs @ Barrons.com - 10 hours ago

    As Bloomberg's Megan Durisin reports, ag ETFs attracted more funds than precious and energy at the start of the year, but logged outflows of nearly $58 million year to date as of Friday, a 2.9% decline. Speculator bets on an agriculture rally are down 78 percent since early April as farmers in the U.S., the world's largest …

  • Stocks finished up 3.8% last month, the best August since 2000. Where will they go in September? S&P 500 futures and Dow Jones Industrial Average futures are little changed this morning, while Nasdaq Composite futures ...

  • If you cherry-pick at the right time, almost any mutual fund can look like a star. He considers a blue chip a company that has a leading market position, seasoned management that allocates capital effectively, and a strong return on invested capital. Puglia's objective is long-term capital growth, while income is secondary. …

  • You need to be aware of this tendency because this incredible bull market will at some point come to an end. If you're not prepared, you are likely to be shocked by your losses when the market turns—so much so, in fact, that you might give up on momentum strategies altogether. How much of a roller coaster ride do momentum …

  • [$$] Avago Shares Can Vault Higher @ Barrons.com - 13 hours ago

    Avago (AVGO:NYSE) By Pacific Crest Securities ($76.36, Aug. 28, 2014) We are buyers of Avago Technologies and are increasing our target to $90 from $85 following solid execution on the top and bottom line. Upside to Avago's (AVGO) [rated at Outperform] revenue guidance was driven by content gains at Apple (AAPL), while …

  • China: Investors are warming up to the Hong Kong-Shanghai Connect, pushing the Shanghai Composite Index up 1.4% to a 15-month high, while closing Hang Seng Index 0.1% lower. Dual-listed stocks tend to ...

  • China's President Xi Jinping's anti-corruption drive has not only deterred aspiring youth from joining the Communist Party, but also dampened enthusiasm for luxury jewelry and watch buys in Hong Kong and ...

  • China's three state-owned mobile telecoms have surged this earnings season. The catalyst is the billions of dollars of handset subsidy cuts China Mobile (941.HK/CHL) and China Telecom (728.HK/CHA) promised to make. As of yesterday's close, China Mobile has gained 8.7%. China Telecom surged 15.7%.

  • Alibaba Group (BABA), which Yahoo! (YHOO) has 22% stake of, is widely expected to launch its IPO roadshow next week, meaning its shares could begin trading as soon as September 18 or 19, just over two weeks from now. How Alibaba directs traffic from its original business, the C2C platform Taobao, to the B2C Tmall, is key, …

  • Chinese online estate site SouFun (SFUN) reported that the average 100 cities' home prices declined for the third consecutive month in August, falling by 0.59% from July. Among the 100 cities, 74 saw monthly ...

  • China: Beijing is flexing its economic muscles investigating foreign firms for reasons from anti-trust to food safety. Illinois-based OSI Group, whose Chinese factories supplied expired meat to fast food ...

  • August PMI data showed Asia was a mixed bag. Taiwan was the region's top performer in August, with its headline PMI reaching its highest level since April 2011. India's PMI slipped a bit in August, but ...

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