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Financial News from Barrons.com

  • Fitbit Wins Latest Round in ITC, Jawbone to Appeal @ Barrons.com - 2 hours 26 minutes ago

    Shares of fitness tracking pioneer Fitbit (FIT) are up 18 cents, or 1.2%, at $15.06, after the U.S. International Trade Commission this evening issued an initial determination from an administrative law judge finding that the company did not misappropriate any trade secrets from competitor Jawbone, which is privately held. …

  • Payments processing pioneer Square (SQ) Tuesday rose by 57 cents, or almost 5%, to close at $12.39, after Stifel Nicolaus’s Scott Devitt raised his rating on the company to Buy from Hold, with a $15 price target, writing that he’s "become more comfortable with the key debates surrounding the stock." One debate is about …

  • Schwartz focuses on general comments he’s hearing about spending on software-as-a-service offerings among companies, and also hiring trends at Workday: In aggregate, we detected a relatively good spending environment for SaaS products among our US- based channel checks (private SaaS companies, industry contacts, large …

  • Can Bonds Keep Defying Their Many Skeptics? @ Barrons.com - 3 hours ago

    The iShares 20+ Year Treasury Bond exchange-traded fund (TLT) is up 17.5% this year, outpacing the SPDR S&P 500 ETF (SPY), which has gained just 7% in that period. Only a few years ago, long-term bonds were considered a terrible investment going forward because interest rates supposedly had no place to go but up, which …

  • Mexico Debt Outlook Negative, S&P Says @ Barrons.com - 3 hours ago

    S&P Global lowered its outlook on Mexico credit ratings to negative from stable. On Monday, Moody's Investors Service lowered its outlook on Mexico banks to negative. S&P writes: "We are revising the outlook on the long-term ratings on Mexico to negative from stable to reflect an at least one-in-three possibility of a …

  • Shares of security technology vendor Palo Alto Networks (PANW) today rose $4.57, or 3.3%, to close at $142.11, after Nomura’s Frederick Grieb reiterated a Buy rating, and a $200 price target, writing that it is "one of the strongest share gainers in its market and continues to benefit from greater awareness of cyber threats,” …

  • Intuit Off 4%: FYQ4 Beats, Q1 View Light @ Barrons.com - 4 hours ago

    Shares of personal and business finance software maker Intuit (INTU) are down $4.33, or almost 4%, at $109.51, after the company this afternoon reported fiscal Q4 revenue that topped analysts’ expectations, and a surprise profit per share, and but forecast revenue and profit below consensus this quarter. CEO Brad Smith …

  • The Nasdaq Composite gained 0.3% to 5,260.08. FBN's JC O’Hara worries that the stock market has gotten overbought: Exposure levels are starting to creep into overbought territory. According to the National Associate of Active Investment Managers (NAAIM), the average manager is +94% net long the market.

  • Elon Musk Tweets, Tesla Pops @ Barrons.com - 5 hours ago

    As dependable as water being wet, and disappointing DC comic book movies, share of Tesla Motors (TSLA) get a pop when Elon Musk tweets something about the upstart auto maker. So why should this time be ...

  • Shares of storage technology vendor Nimble Storage (NMBL) are up 26 cents, or 3%, at $9.08, in late trading, after the company this afternoon reported fiscal Q2 revenue and profit that topped analysts’ expectations, and forecast this quarter’s revenue higher. Gross profit margin in the quarter rose was 67%, down from 67.8% …

  • KBW: Ares Capital is an August Opportunity @ Barrons.com - 5 hours ago

    Ares Capital Corporation (ARCC) got a lift Tuesday, rising 16 cents, or 1%, to $15.92. The likely reason was a note from Keefe, Bruyette & Woods analyst Ryan Lynch who named it an "August Opportunity" in a Monday afternoon report. Lynch gave four reason the business development company (these are publicly-traded firms …

  • ETF assets are up 14% year-over-year, edging just ahead of the 13.7% growth that ETFs saw in the one year period ended Aug. 17, 2015, writes ETF.com’s Drew Voros for Nasdaq. Every asset class is up so far in 2016, but investors are being selective about where they put their money.

  • Four months later, the Soviet Union collapsed. At the time, communist leaders in the K.G.B. hatched the coup in opposition to Boris Yeltsin and Mikhail Gorbachev, and to power ceded to republics. Half of Russians cannot remember the coup or don't know what happened and that "gives the state tremendous power to shape how …

  • [$$] A Medical-Device Stock With Big Upside @ Barrons.com - 5 hours ago

    After a few tough years, prospects for Trinity Biotech are finally looking up. In July, Trinity (TRIB), a maker of medical instruments and tests for diseases like HIV and diabetes, reported a return to revenue growth for the first time in over a year. Perhaps more notably, its Meritas Troponin point-of-care test, used …

  • Gold and oil climbed on Tuesday, reversing their declines to start the week. After falling for two days gold for August delivery climbed $2.90 per troy ounce, or 0.22% to $1340.60. The VanEck Vectors Gold Miners ETF (GDX), SPDR Gold Trust (GLD) and theDirexion Daily Gold Miners Index Bull 3X Shares (NUGT) were all lower …

  • [$$] Two Mid-Cap Banks to Buy @ Barrons.com - 6 hours ago

    The combination of the recent run-up of valuations, greater commercial real estate (CRE) concerns weighing on growth trends, more challenging linked-period comps, and an unpopular election all amount to what we expect to be a challenging second half of the year for mid-cap banks. Valuations relative to current trends on …

  • JM Smucker: To Buy or Not To Buy? @ Barrons.com - 6 hours ago

    Shares of JM Smucker (SJM) are getting pounded today after the food company beat earnings forecasts but missed on revenue. Susquehanna's Pablo Zuanic doesn't recommend using JM Smucker's weakness as an ...

  • RBC's Simos Simeonidis and Matthew Eckler try to find the right comparison for Pfizer's (PFE) purchase of Medivation (MDVN): We were obviously wrong with our Sector Perform rating: while we knew an M&A transaction was definitely a good possibility, we just could not get to this level of valuation using a realistic Xtandi …

  • American International Group (AIG) is higher Tuesday, on news that it may sell its Lloyd’s of London operations to Canada’s largest pension fund. Anonymous sources close to the deal told The Wall Street Journal that the Canada Pension Plan Investment Board is looking to buy AIG’s Lloyd’s of London business along with another …

  • Venezuela had $12 billion in foreign-exchange reserves at the end of June, including gold and cash, but bonds due in the next two years face risk as cash dwindles. It also has mounting debt payments. The ...

  • Shares of autonomous driving startup (MBLY) are up $3.33, or 7%, at $49.89, after the company this morning announced they are partnering with auto parts maker (DLPH) to develop "a ," which they say will result in "end-to-end-production-intent fully automated vehicle solution." Delphi shares are up $2.69, or 4%, at $67.75. …

  • United Continental Holdings (UAL:NYSE) By Imperial Capital ($46.95, Aug. 23, 2016) We are initiating coverage of United Continental Holdings shares with an Outperform rating and a one-year price target of $57, about 21% above the recent share price. While United (UAL) has many strengths, including great domestic hubs …

  • Emerging markets are vulnerable to a rise in U.S. interest rates, and just when that happens could be "sparked by a hawkish tilt" Friday from the Fed. The signal could come from the Federal Reserve ...

  • Balanced funds are the Buicks of the auto industry, says Ron Kaliebe, lead manager of the Mairs & Power Balanced fund. The $805 million fund is off to the races this year, returning 10.7% so far in 2016, solidly ahead of the 8.4% return for Morningstar’s Moderate Target Risk index, which tracks a 60/40 blend of equities …

  • Cituigroup's Kate McShane and Corinna Van der Ghinst explain why they're still bullish on Under Armour (UA) despite fears that its deal with Kohl's (KSS) could result in slower growth: Under Armour’s entry to Kohl's wholesale distribution has been a top investor question since the report, as mgmt built the brand on a premium …

  • Turkey Stocks Lower After Interest Rate Cut @ Barrons.com - 9 hours ago

    Equities in Turkey are moving lower after the central bank cut its overnight lending rate by 25 basis points, marking a sixth straight month of reductions. Turkey's fresh rate cut puts the country's overnight lending rate at 8.5% and is evidence Turkey's monetary policy council (MPC) "is paying scant regard to its inflation …

  • Iron Ore: Is the Rally Running Out of Steam? @ Barrons.com - 10 hours ago

    Citigroup's Tracy Xian Liao and team argue that the rally in iron-ore prices--which has helped lift shares of Cliffs Natural Resources (CLF) and other iron miners--is running out of steam. Iron ore has become the best performer YTD among major commodities, though its market fundamentals have provided little support to …

  • Tableau Software (DATA) shares are surging by $6.55, or almost 12%, at $61.42, after the company late yesterday said it named the head of marketing for  Amazon's (AMZN) cloud operations, Adam Selipsky, its new CEO, freeing up CEO and founder and chairman Christian Chabot for other tasks. Among responses this morning, Matthew …

  • Sales of new homes jumped by 12.4% in July to an annual rate of 654,000, according to Tuesday's report form the Commerce Department. "The 654k annualized run rate in August puts it only 8.5% below its 25 year average," Peter Boockvar of the Lindsey Group writes Tuesday.

  • [$$] Three Software Picks Unfazed by Brexit @ Barrons.com - 10 hours ago

    Pacific Crest Securities Second-quarter results were solid across security and infrastructure software on the whole, aided by better-than-expected performance in Europe, where potential Brexit disruption was feared to create a second-quarter headwind. -- Rob Owens -- Liz Verity To be considered for the Soapbox feature, …

  • 10 Reasons to Fear the Bull Market @ Barrons.com - 10 hours ago

    The S&P 500 is sitting just above its all-time closing high today--but instead of making investors happy, the market's strength seems to have provoked a ton of angst. So if you're looking for reasons to ...

  • Shares of Best Buy (BBY) are up $5.62 or 17%, at $38.42, after the company this morning beat fiscal Q2 expectations, and forecast this quarter’s sales higher as well, and said it now expects some profit growth for the full year where it had previously thought things would be no better than last year. CEO Hubert Joly pointed …

  • Mexico Bank Loan Risk Negative: Moody's Says @ Barrons.com - 11 hours ago

    Moody's lowered the outlook for Mexican bank debt to negative from stable, citing expanding lending in a slow-growth economy and oil-price risk. The yield on Mexico's 10-year bond was flat at 5.8% and the Mexican peso was slightly stronger against the U.S. dollar in recent trading. The iShares MSCI Mexico Capped exchange-traded …

  • If we learned anything from Valeant Pharmaceuticals International (VRX)--besides the fact that using a captive pharmacy to get around insurance companies is a really bad idea--it's that raising drug prices creates a lot of bad press and invites a ton of scrutiny. While the controversy probably won't hurt Mylan's earnings, …

  • On Monday, S&P Global Market Intelligence wrote about how the inconsistent results of equity funds showed the cracks in active management—and showed the appeal of passive funds. The firm argues that while ...

  • Baird's David Leiker and team contend that the partnership between Delphi Automotive (DLPH) and Mobileye (MBLY) to create a self-driving car is good news for both companies. They explain why: This morning ...

  • Imperial Capital's Michael Derchin and Adam Hackel contend that United Continental Holdings (UAL) has had "more than its share of challenges" but they start it with an Outperform rating anyway. While United Continental has many strengths, including great domestic hubs in San Francisco, Newark, Houston, Denver, and Chicago, …

  • Yesterday, we highlighted six stocks that the folks at Citigroup contend could be buyout targets following Pfizer's (PFE) $14 billion purchase of Medivation (MDVN). Today, Gabelli's Jing He offers four ...

  • Stocks look set for a higher open today as the quiet summer trading continues. S&P 500 futures have advanced 0.2%, while Dow Jones Industrial Average futures have risen 0.2%. Nasdaq Composite futures have ...

  • [$$] Hormel Ready to Hog Upside @ Barrons.com - 14 hours ago

    Hormel (HRL:NYSE) By Credit Suisse ($37.04, Aug. 22, 2016) We are raising our rating on Hormel to Outperform from Neutral and our target price to $43 from $38. In an environment where packaged-food peers are rationalizing their portfolios and turning almost exclusively to cost-cutting to adjust to slowing consumer demand, …

  • While emerging markets equities are touted as ways to participate in growth on younger, more vigorous economies, they are also plays on easy U.S. financial conditions. When U.S. interest rates are low and the dollar is softening, American investors flock to markets from China to Indonesia as well as Brazil. The iShares …

  • Samsung just reminded the world why betting against South Korea can be a risky proposition. Samsung Electronics (005930.KR) shares are up 33% this year, dwarfing the 3.9% gain at arch rival Apple (AAPL) and giving Seoul serious bragging rights. Last week’s rally propelled Samsung’s market capitalization as high as $235 …

  • To say Didi Chuxing and Meituan-Dianping are household names in China would be an understatement. The creation of these e-commerce giants was the brainchild of star tech investment banker Fan Bao. Fan is the founder and CEO of China Renaissance, a boutique investment bank that also counts the 2014 Nasdaq listing of Chinese …

  • Investment in China's railway network was at an all-time high in 2015. Zhuzhou CRRC (3898.Hong Kong) tumbled 8.8% to 40.15 Hong Kong dollars after being downgraded to Sell by Credit Suisse. Zhuzhou CRRC reported disappointing first-half earnings last week.

  • China Zhengtong Auto (1728.Hong Kong) fell short of expectations. Zhengtong Auto tumbled 14.8% this morning to 2.93 Hong Kong dollars after reporting a 27% year-on-year fall in first-half net profit to ...

  • Anhui Conch Cement (914.Hong Kong) jumped 3.6% in Hong Kong this morning after reporting better-than-expected first-half earnings. Revenue was essentially flat despite net sales volume growing 11% from ...

  • Ono Pharmaceutical (4528.Japan) soared 7.2% this morning after the Nikkei reported that the Japanese pharmaceutical company will start selling Opdivo, a cancer drug developed in partnership with Bristol-Myer's Squibb (BMY), as a blood cancer treatment covered by Japanese insurance companies. The Nikkei reported: On criticism …

  • Korea's cosmetics and household products companies have long been among investors' favorite stocks. China said it would consider economic sanctions. As a result, Korean cosmetics companies such as Amorepacific (002790.Korea/090430.Korea) and LG Household & Health (051900.Korea) missed out on the emerging markets rally …

  • Late this afternoon, after market close, fiber-optics technology company Viavi Solutions (VIAV) issued a letter from its CEO, Oleg Khaykin, in response to an open letter issued last week by activist fund Sandell Asset Management -- the second campaign against management in a year -- that calls for a sale of part of the …

  • The S&P 500 dipped 0.1% to 2,182.64 today, while the Dow Jones Industrial Average declined 23.15 points, or 0.1%, to 18,529.42. The Nasdaq Composite advanced 0.1% to 5,244.60. Eight Bridges Capital Management's Jeffrey Miller worries that a market meltdown is just around the corner: Am I saying a market crash is immi …

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