Restaurant chain, Panera Bread (NASDAQ: PNRA) was downgraded to an “equal-weight” from an “overweight” by Morgan Stanley on Monday. Morgan Stanley currently keeps a price target of $19.00, which implies an upside potential of 15.83% over closing the stock’s closing price on Friday. Morgan Stanley said that a third of Panera’s customers indicated that prices [...]
Apple has displaced Coca Cola to become the world’s most valuable brand, according to very closely watched annual brand survey, conducted by Interbrand. Interbrand, which is subsidiary of Omnicom Group, said in its report that Apple’s strong leadership, huge fan base and a gigantic brand appeal were some of the factors which helped the iPad [...]
According to London’s Daily Telegraph, citing a source familiar with the matter as saying, King.com, the London based maker of Candy Crush Saga has filed for an initial public offering with the Securities and Exchange Commission. The IPO aims to raise $5 billion. The year has been devoid of tech-related IPOs. According to a data [...]
Shares of AZZ Inc. (NYSE: AZZ) were hammered on Friday after the electrical equipment maker reported weaker-than-expected results for the fiscal second quarter and handed downbeat guidance for the current quarter. Besides, it also slashed its full year outlook. For the latest period, AZZ posted adjusted earnings of 57 cents a share while analysts’ consensus [...]
McCormick & Co (NYSE: MKC) said on Thursday that fiscal third quarter profit remained flat as margins remained even, offsetting slight improvement in sales. Shares fell as the company provided downbeat outlook for full-year earnings. The Company expects earnings to be at lower end of its previous guidance. The Company said that weak demand for [...]
Ecommerce giant, eBay Inc. (NASDAQ: EBAY) announced on Thursday that it plans to acquire payment service provider Braintree in an all-cash transaction valued at $800 million. The acquisition will help eBay expanding traction in mobile payment transaction, which currently is handled by its online payment unit, PayPal. The Company said that Braintree will operate as [...]
Equity research analysts at Canaccord Genuity initiated coverage on Facebook (NASDAQ: FB) from Wednesday. The firm assigned a “buy” rating and set a price target of $60.00. The price target implies an upside potential of 23.84% over Tuesday’s closing stock price. In the research report, analyst said that the reason behind initiating coverage of FB [...]
AutoZone Inc. (NYSE: AZO) said on Wednesday that fiscal fourth quarter net income increased 15% as the U.S. biggest auto parts seller’s top line growth continued to show an improvement, aided by new stores opening in the U.S. and Mexico and expanding commercial business. For the latest period ended Aug. 31, AutoZone posted a net [...]
Applied Materials Inc. (NASDAQ: AMAT) and rival chipmaker Tokyo Electron agreed to merge in an all-stock deal on Tuesday. Under the terms of the deal, Tokyo Electron shareholders will be offered 3.25 shares of the new entity for each share held in Tokyo Electron while Applied Materials shareholders will get one share of the merged [...]
Homebuilder, Lennar Corporation (NYSE: LEN) said on Tuesday that fiscal third quarter earnings increased 39%, aided by stronger margins, jump in orders and deliveries and a staggering revenue growth. For the latest period, profit stood at $120.7 million or 54 cents a share, compared to a net income of $87.1 million or 40 cents a [...] |
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