Breaking News Instant updates and real-time market news.

PIR

Pier 1 Imports

09:17
10/14/16
10/14
09:17
10/14/16
09:17

Alden delivers letter to the Chairman and board of Directors of Pier 1 Imports

Alden Global Capital, the largest active shareholder of Pier 1 Imports, with ownership of approximately 9.5% of Pier 1's outstanding shares, announced that it has delivered a letter to the company's Chairman, Terry London, and the company's Board of Directors. The full text of the letter follows: "We appreciate you taking the time and giving us the opportunity to meet with you, Jeff Boyer, and Mike Carter on September 23, 2016, as well as our subsequent meeting with management on October 4, 2016 at Pier 1 Imports headquarters in Fort Worth. The meetings have been helpful for us to gain a better understanding of Pier 1, including the significant value creation opportunities that exist and the challenges facing the Company. Putting aside our extreme disappointment with the Company's overreactive adoption of a shareholder rights plan on September 27, 2016, just four days after our initial meeting with you, we look forward to continuing a constructive and productive dialogue regarding corporate strategy, the ongoing CEO search process, and the composition of Pier 1's Board of Directors. We would caution the Company against taking any further actions to entrench the Board. Alden Global Capital LLC, together with its affiliates, has an ownership interest of approximately 9.5% of the outstanding shares of Pier 1, making us the Company's largest active shareholder. We do not believe the current market price of Pier 1 fully reflects its intrinsic value, in large part due to the Company's deteriorating operating performance, history of poor capital allocation, and irresponsible executive compensation. The purpose of this letter is not only to make our serious concerns explicit for the Board, but also to outline our views for fellow shareholders regarding why immediate and meaningful changes are required to begin rebuilding shareholder confidence."

PIR Pier 1 Imports

09/08/16
FBCO
09/08/16
DOWNGRADE
Target $4
FBCO
Underperform
Pier 1 Imports downgraded to Underperform from Neutral at Credit Suisse
Credit Suisse analyst Seth Sigman downgraded Pier 1 Imports to Underperform and lowered its price target to $4 from $4.50 based on weaker Q2 sales results and relative underperformance versus the industry. He sees increased risk of more aggressive promotional activity to improve sales and management uncertainty with the expected departure of CEO Alex Smith.
09/08/16
OPCO
09/08/16
DOWNGRADE
OPCO
Perform
Pier 1 Imports downgraded to Perform from Outperform at Oppenheimer
Oppenheimer analyst Brian Nagel downgraded Pier 1 Imports to Perform citing too much uncertainty after the company pre-released fiscal Q2 comp results below prior guidance and announced that its long-standing CEO Alex Smith will part ways with the company in December.
09/08/16
RAJA
09/08/16
DOWNGRADE
RAJA
Market Perform
Pier 1 Imports downgraded to Market Perform from Strong Buy at Raymond James
Raymond James analyst Budd Bugatch downgraded Pier 1 Imports to Market Perform from Strong Buy following the announcement that Alex Smith will step down as President and CEO and weak preliminary Q2 results. The analyst said furniture and home furnishing retail sales remain challenged and he cannot maintain a more constructive rating during a CEO transition.
09/08/16
09/08/16
DOWNGRADE

On The Fly: Top five analyst downgrades
Catch up on today's top five analyst downgrades with this list compiled by The Fly: 1. Apple (AAPL) downgraded to Market Perform from Outperform at Wells Fargo with analyst Maynard Um saying he views the risk/reward as balanced with the stock up 12% since Apple's earnings report on July 26. 2. Nike (NKE) downgraded to Neutral from Overweight at Piper Jaffray with analyst Erinn Murphy saying the resurgence of adidas (ADDYY) has taken a toll on Nike's growth rate in Germany, United Kingdom and France. 3. lululemon (LULU) downgraded to Hold from Buy at Jefferies with analyst Randal Konik saying the company's opportunity to grow its topline and expand operating margins are now largely factored into the stock. 4. Pier 1 Imports (PIR) downgraded to Underperform from Neutral at Credit Suisse, to Perform from Outperform at Oppenheimer, and to Market Perform from Strong Buy at Raymond James. 5. HP Enterprise (HPE) downgraded to Market Perform from Outperform at Wells Fargo with analyst Maynard Um citing a lack of near-term catalysts following the company's third quarter results. This list is just a portion of The Fly's full analyst coverage. To see The Fly's full Street Research coverage, click here.

TODAY'S FREE FLY STORIES

NRZ

New Residential

$16.85

0.31 (1.87%)

13:46
04/26/17
04/26
13:46
04/26/17
13:46
Options
New Residential call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 01

    May

PGH

Pengrowth Energy

$1.01

-0.0065 (-0.64%)

13:45
04/26/17
04/26
13:45
04/26/17
13:45
Upgrade
Pengrowth Energy rating change  »

Pengrowth Energy upgraded…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

SXL

Sunoco Logistics

$24.29

-0.065 (-0.27%)

, ETP

Energy Transfer Partners

$36.37

-0.05 (-0.14%)

13:43
04/26/17
04/26
13:43
04/26/17
13:43
Hot Stocks
Energy Transfer Partners holders approve Sunoco Logistics merger »

Sunoco Logistics Partners…

SXL

Sunoco Logistics

$24.29

-0.065 (-0.27%)

ETP

Energy Transfer Partners

$36.37

-0.05 (-0.14%)

ETE

Energy Transfer Equity

$19.33

0.78 (4.20%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Apr

  • 23

    May

XOM

Exxon Mobil

$81.98

0.25 (0.31%)

13:43
04/26/17
04/26
13:43
04/26/17
13:43
Hot Stocks
Exxon Mobil raises dividend to 77c from 75c per share »

The board of directors of…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 28

    Apr

ATVI

Activision Blizzard

$51.36

0.48 (0.94%)

13:39
04/26/17
04/26
13:39
04/26/17
13:39
Hot Stocks
Activision Blizzard unveils next 'Call of Duty,' says launching November 3 »

Activision Blizzard…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 04

    May

  • 09

    May

NTRA

Natera

$8.62

0.26 (3.11%)

13:33
04/26/17
04/26
13:33
04/26/17
13:33
Hot Stocks
Natera, Cancer Research UK publish results from 100 patients in TRACERx study »

Natera and Cancer…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Apr

HCLP

Hi-Crush Partners

$15.05

-0.05 (-0.33%)

13:33
04/26/17
04/26
13:33
04/26/17
13:33
Options
Hi Crush Partners calls are active ahead of earnings »

Hi Crush Partners calls…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 01

    May

NFLX

Netflix

$152.16

8.33 (5.79%)

, FB

Facebook

$146.49

1.02 (0.70%)

13:32
04/26/17
04/26
13:32
04/26/17
13:32
Hot Stocks
FCC chairman Pai proposes to roll back net neutrality rules »

As previewed in recent…

NFLX

Netflix

$152.16

8.33 (5.79%)

FB

Facebook

$146.49

1.02 (0.70%)

AMZN

Amazon.com

$907.62

0.21 (0.02%)

GOOG

Alphabet

$872.30

9.54 (1.11%)

GOOGL

Alphabet Class A

$888.84

9.91 (1.13%)

CMCSA

Comcast

$38.49

0.48 (1.26%)

CMCSK

Comcast

T

AT&T

$40.11

0.17 (0.43%)

VZ

Verizon

$47.29

0.5937 (1.27%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

  • 27

    Apr

  • 27

    Apr

  • 27

    Apr

  • 02

    May

  • 03

    May

  • 08

    May

  • 09

    May

  • 16

    May

  • 16

    May

  • 16

    May

  • 17

    May

  • 22

    May

  • 23

    May

  • 05

    Jun

MPLX

MPLX

$36.39

-0.26 (-0.71%)

13:31
04/26/17
04/26
13:31
04/26/17
13:31
Hot Stocks
MPLX raises quarterly distribution 4% to 54c per unit »

MPLX LP announced that…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 27

    Apr

CREE

Cree

$24.82

0.07 (0.28%)

, IFNNY

Infineon

$20.70

0.12 (0.58%)

13:29
04/26/17
04/26
13:29
04/26/17
13:29
Recommendations
Cree, Infineon analyst commentary  »

Roth Capital says Cree…

CREE

Cree

$24.82

0.07 (0.28%)

IFNNY

Infineon

$20.70

0.12 (0.58%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 02

    May

  • 03

    May

  • 09

    May

IART

Integra LifeSciences

$43.74

0.86 (2.01%)

13:27
04/26/17
04/26
13:27
04/26/17
13:27
Recommendations
Integra LifeSciences analyst commentary  »

Integra LifeSciences…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Apr

  • 06

    Jun

AA

Alcoa

$36.37

-0.12 (-0.33%)

, KALU

Kaiser Aluminum

$83.84

-0.05 (-0.06%)

13:26
04/26/17
04/26
13:26
04/26/17
13:26
Periodicals
Commerce Secretary to announce plan to investigate aluminum imports, CNBC says »

Commerce Secretary Wilbur…

AA

Alcoa

$36.37

-0.12 (-0.33%)

KALU

Kaiser Aluminum

$83.84

-0.05 (-0.06%)

CENX

Century Aluminum

$13.62

0.99 (7.84%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

ZIOP

ZIOPHARM

$7.09

0.25 (3.66%)

13:26
04/26/17
04/26
13:26
04/26/17
13:26
Options
Ziopharm call volume above normal and directionally bullish »

Bullish option flow…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 01

    May

  • 01

    May

  • 02

    Jun

  • 06

    Jun

13:20
04/26/17
04/26
13:20
04/26/17
13:20
General news
Treasury Action: yields jerked higher »

Treasury Action: yields…

$NSD

NASDAQ Market Internals

13:17
04/26/17
04/26
13:17
04/26/17
13:17
Technical Analysis
NASDAQ market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

$NYE

NYSE Market Internals

13:16
04/26/17
04/26
13:16
04/26/17
13:16
Technical Analysis
NYSE market internals summary »

Volume is average for…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

13:15
04/26/17
04/26
13:15
04/26/17
13:15
General news
5-Yr Note Auction Coupon Rate data reported »

5-Yr Note Auction Coupon…

13:15
04/26/17
04/26
13:15
04/26/17
13:15
General news
Treasury's $34 B 5-year sale was poor, as feared »

Treasury's $34 B…

13:14
04/26/17
04/26
13:14
04/26/17
13:14
General news
5-Yr Note Auction Total Amount data reported »

5-Yr Note Auction Total…

13:14
04/26/17
04/26
13:14
04/26/17
13:14
General news
Export Prices data reported. »

April Export Prices at % …

13:14
04/26/17
04/26
13:14
04/26/17
13:14
General news
Import Prices data reported. »

April Import Prices at % …

EEM

MSCI Emerging Markets Index

$40.04

-0.16 (-0.40%)

13:11
04/26/17
04/26
13:11
04/26/17
13:11
Options
Notable put spreads in the iShares Emerging Markets ETF »

Notable put spreads in…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

GS

Goldman Sachs

$227.78

1.15 (0.51%)

, BAC

Bank of America

$24.08

0.095 (0.40%)

13:08
04/26/17
04/26
13:08
04/26/17
13:08
Periodicals
Fed looks to restructure big bank supervision panel, WSJ says »

The Fed is restructuring…

GS

Goldman Sachs

$227.78

1.15 (0.51%)

BAC

Bank of America

$24.08

0.095 (0.40%)

C

Citi

$60.43

0.2199 (0.37%)

WFC

Wells Fargo

$54.90

0.335 (0.61%)

JPM

JPMorgan

$88.61

0.345 (0.39%)

MS

Morgan Stanley

$44.65

0.38 (0.86%)

USB

U.S. Bancorp

$52.36

0.225 (0.43%)

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Apr

  • 26

    Apr

  • 26

    Apr

  • 09

    May

  • 11

    May

  • 19

    May

  • 22

    May

  • 31

    May

  • 06

    Jun

  • 13

    Jul

  • 14

    Jul

  • 18

    Jul

  • 19

    Jul

  • 25

    Jul

  • 12

    Oct

  • 12

    Oct

  • 17

    Oct

  • 18

    Oct

  • 15

    Jan

  • 17

    Jan

  • 13

    Apr

  • 13

    Jul

  • 12

    Oct

X

U.S. Steel

$23.27

-7.84 (-25.20%)

13:06
04/26/17
04/26
13:06
04/26/17
13:06
Downgrade
U.S. Steel rating change  »

U.S. Steel downgraded to…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

  • 26

    Apr

CCCR

China Commercial Credit

$1.82

0.4101 (29.09%)

13:06
04/26/17
04/26
13:06
04/26/17
13:06
Syndicate
Breaking Syndicate news story on China Commercial Credit »

China Commercial Credit…

03/08/13
Wedge Partners
03/08/13
Credit Suisse
03/06/13
Citigroup
03/06/13
Barclays

See Street Research during your Free Trial

Get Full Fly Access

Breaking market intelligence sent straight to you
Our team of experts analyze every news story and filter out the noise to deliver real-time market moving news.
Up-to-date information on important industry events
Get real-time updates on events that are moving the market—from conferences and calls to syndicate announcements.
News focused on the companies in your portfolio
Create up to 12 portfolios with 150 stocks each, and see how active they are in market news.