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Stock Market & Financial Investment News

News Breaks
April 9, 2014
12:18 EDTWLT, SBGI, GM, AA, STZ, ANR, GTN, TM, ACI, NXST, CTCT, PGOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday ahead of the release of the minutes for the Federal Reserve’s last policy meeting. Investors may have gained some optimism about the upcoming earnings season following Alcoa’s (AA) first quarter report, sending its shares and the major averages higher right from the outset of today’s trading. The indexes have moved in a relatively narrow range, but have remained in positive ground throughout the morning. ECONOMIC EVENTS: In the U.S., wholesale inventories rose 0.5% in February, matching economists’ forecast. The minutes for the March 18-19 FOMC meeting are scheduled to be released at 2 pm ET. COMPANY NEWS: Shares of aluminum producer Alcoa gained more than 3% after the company unofficially kicked off the earnings season with its report last night. The company reported first quarter adjusted profit that beat estimates, on revenue that missed expectations, adding that its year-to-date productivity gains are ahead of schedule… Toyota Motor (TM) saw its New York listed shares slip a bit over 1.5% after the company announced the recall of over 6M vehicles worldwide and its shares were downgraded to a Neutral rating at Bank of America Merrill Lynch. Another automaker grappling with its own recall issues, General Motors (GM), declined 2% after Morgan Stanley downgraded the stock to Underweight from Equal Weight. GM will need to invest heavily into connected vehicles, advanced power trains and eventually autonomous cars, which will pressure margins and earnings, the analyst contended… Procter & Gamble (PG) shares were fractionally higher after the consumer goods giant agreed to sell its three major pet food brands - Iams, Eukanuba, and Natura - to Mars for $2.9B. MAJOR MOVERS: Among the notable gainers was marketing software and solutions provider Constant Contact (CTCT), which surged 28% higher after the company’s preliminary first quarter revenue exceeded analysts' projection. Also higher were shares of several companies that own local TV stations, including Gray Television (GTN), Sinclair Broadcast (SBGI), and Nexstar (NXST), after Wells Fargo upgraded all three stocks after its meetings with FCC representatives relieved its prior concerns that the agency could veto sharing deals among stations. Among the noteworthy losers was beer and wine importer and distributor Constellation Brands (STZ), which slid 3% despite the company reporting sales that matched estimates and adjusted profits that beat the consensus forecast. Also lower were shares of a number of coal producers, including Alpha Natural Resources (ANR), Walter Energy (WLT) and Arch Coal (ACI), after all three stocks were downgraded to Sell at UBS. INDEXES: Near noon, the Dow was up 57.81, or 0.36%, to 16,313.95; the Nasdaq was up 29.81, or 0.72%, to 4,142.80; and the S&P 500 was up 6.06, or 0.33%, to 1,858.02.
News For AA;PG;TM;GM;CTCT;GTN;SBGI;NXST;ANR;WLT;ACI;STZ From The Last 14 Days
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June 22, 2015
10:00 EDTAAOn The Fly: Analyst Downgrade Summary
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08:16 EDTAAAlcoa downgraded on lack of catalysts, risk/reward at Sterne Agee CRT
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06:57 EDTGMCNH Industrial upgraded to Neutral from Underweight at JPMorgan
JPMorgan upgraded CNH Industrial (CNHI) to Neutral saying the stock could find support until the potential General Motors (GM) and Fiat-Chrysler (FCAU) merger is resolved. The firm raised its price target for shares to $8.50 from $7.50.
06:24 EDTAAAlcoa downgraded to Neutral from Buy at Sterne Agee CRT
06:08 EDTGM, TMGeneral Motors to add over 243,000 hatcbacks to air bag recall, AP reports
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June 19, 2015
18:12 EDTACIS&P announces changes to S&P 100, 400, 500, and 600 indices
S&P Dow Jones Indices will make the following changes to the S&P 100, S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices: S&P 500 constituent The Priceline Group (PCLN) will replace Baxter International (BAX) in the S&P 100, Baxalta (BXLT) will replace QEP Resources (QEP) in the S&P 500, QEP Resources will replace Itron (ITRI) in the S&P MidCap 400, and Itron will replace Arch Coal (ACI) in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. Baxter International is spinning off Baxalta in a transaction expected to be completed on that date. Baxter International will remain in the S&P 500 following the distribution, but its post spin market capitalization will no longer make it appropriate for the S&P 100. QEP Resources, Itron and Arch Coal are all ranked near or at the bottom of their current indices. Skechers USA (SKX) will replace Rock-Tenn Co. (RKT) in the S&P MidCap 400, and MiMedx Group (MDXG) will replace Skechers USA in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. S&P 500 constituent MeadWestvaco Corp. (MWV) is combining with Rock-Tenn in a transaction expected to be completed on or about that date. The combined company will remain in the S&P 500 and will change its name to WestRock Co. HealthEquity (HQY) will replace Zep Inc. (ZEP) in the S&P SmallCap 600 after the close of trading on Thursday, June 25. Private equity firm New Mountain Capital is acquiring Zep in a transaction expected to be completed on or about that date pending final approvals.
17:21 EDTACIItron to replace Arch Coal in S&P 600 as of 6/30 close
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10:50 EDTTM, GMEPA proposes new rules for medium- and heavy-duty truck emissions
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06:04 EDTTMToyota CEO to stand by arrested US executive Julie Hamp, Financial Times says
Toyota CEO Akio Toyoda apologized for the arrest of the company's first female western senior executive although it vowed to stand by her for now, reports the Financial Times. Toyoda commented, "Julie Hamp is an invaluable colleague... What I can do now is to believe in my colleague and co-operate fully with the investigation." Hamp was arrested on suspicion of illegally importing a prescription drug from the U.S. Reference Link
June 18, 2015
16:24 EDTGMOn The Fly: Top stock stories for Thursday
Stocks began the session in positive territory, adding to the late day move yesterday that followed Fed comments about the central bank's plans to raise benchmark interest rates gradually. Today's rally was broad based, as all 10 S&P sectors were in positive ground and the Nasdaq closed at a new all-time high. There were the usual headlines concerning Greece, but for at least one day, the U.S. market was able to ignore the European noise. ECONOMIC EVENTS: In the U.S., the consumer prices index rose 0.4% in the month of May, versus expectations for a 0.5% increase. The core reading, which removes food and energy prices, rose 0.1%, versus the expected increase of 0.2%. Initial jobless claims dipped 12,000 to 267,000 in the week ended June 13, versus expectations for 277,000 first-time claims. The Philadelphia Fed manufacturing survey climbed 8.5 points to 15.2 in June, topping expectations for a reading of 8. The leading indicators rose 0.7% to 123.1 in May, topping expectations for a rise of 0.4%. In Europe, International Monetary Fund chief Christine Lagarde reportedly said Greece won’t be given a grace period if it fails to make its scheduled payment to the fund on June 30. Meanwhile, finance ministers of euro area member states met today, after which Agence France-Presse reported that the talks ended with no deal on Greece. Bloomberg subsequently said that euro leaders plan to hold a summit to discuss Greece this coming Monday. COMPANY NEWS: Shares of Oracle (ORCL) dropped $2.17, or 4.84%, to $42.74 after the enterprise software, hardware and IT services provider reported lower than expected fourth quarter earnings per share and gave a lower than expected forecast for profit in its new quarter... General Motors (GM) announced that Fitch has raised the credit ratings of both GM and GM Financial to investment grade, meaning the corporate credit ratings for GM are now investment grade with all major rating agencies. Meanwhile, Reuters reported, citing several sources familiar with the matter, that the automaker has hired Goldman Sachs (GS) and Morgan Stanley (MS) to advise it as Fiat Chrysler (FCAU) CEO Sergio Marchionne attempts to gain the support of GM investors with the goal of forcing merger discussions with GM's board... Fitness tracker maker Fitbit (FIT) surged 48.4% to close at $29.68 in its first day of public trading. The company priced its initial public offering at $20 per share, topping expectations, and its closing price gives it a market value near $6B. MAJOR MOVERS: Among the notable gainers was Martha Stewart Living Omnimedia (MSO), which rose $1.35, or 26.27%, to $6.44 after The Wall Street Journal reported the company was nearing a deal to be acquired by Sequential Brands (SQBG), though the Journal said it was unable to learn the terms of the potential deal being discussed. Sequential Brands (SQBG) shares added 12.4% to close at $16.04 following the report. Also higher was Radius Health (RDUS), which gained $7.81, or 15.1%, to $59.54 after the company announced results from the six-month extension study for abaloparatide, its experimental treatment for osteoporosis. Among the noteworthy losers was Bankrate (RATE), which fell $2.60, or 18.77%, to $11.25 and was downgraded to Neutral from Buy at SunTrust after the company's revenue outlook came in well below the consensus forecast. INDEXES: The Dow gained 180.10, or 1%, to 18,115.84, the Nasdaq rose 68.07, or 1.34%, to 5,132.95, and the S&P 500 added 20.80, or 0.99%, to 2,121.24.
13:28 EDTGMFitch upgrades General Motors, GM Financial to investment grade
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06:05 EDTAAStocks with implied volatility above IV index mean; NBG AA
Stocks with implied volatility above IV index mean; National Bank of Greece (NBG) 237, Alcoa (AA) 32 according to iVolatility.
June 17, 2015
17:37 EDTGMGM hires advisers as Fiat Chrysler tries to force merger talks, Reuters says
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17:33 EDTSTZConstellation Brands to employ over 2,500 Mexican workers in Nava brewery
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13:05 EDTTM, GMJ.D. Power: Japanese auto brands struggle to keep up with pace of improvement
With a significant year-over-year improvement, Korean brands continue to widen the quality gap with other automakers, while Japanese makes collectively fall below industry average for the first time in 29 years, according to the J.D. Power 2015 U.S. Initial Quality StudySM released today. Korean brands lead the industry in initial quality by the widest margin ever, averaging 90 PP100, which is an 11 PP100 improvement from 2014. For the first time in the study, European brands surpass Japanese brands, while domestic makes equal the Japanese for only a second time. Porsche (POAHY) ranks highest in initial quality for a third consecutive year, posting a score of 80 PP100. With a 20 PP100 improvement from 2014, Kia follows Porsche in the rankings at 86 PP100. This marks the first time in the history of the study that Kia has led all non-premium makes in initial quality. Jaguar (TTM), Hyundai (HYMLF) and Infiniti (NSANY) round out the top five nameplates. Infiniti is one of the most improved brands in the study, lowering its problem score by 31 PP100 from 2014. Reference Link
12:15 EDTNXSTNexstar and CBS enter into affiliation agreement renewals
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08:37 EDTAABofA/Merrill metals strategist holds an analyst/industry conference call
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06:39 EDTPGCoty downgraded to Neutral from Buy at Citi
Citi downgraded Coty (COTY) to Neutral after shares rallied on a New York Post report saying the company is in talks to acquire Procter & Gamble's (PG) beauty business for $12B. Citi sees potential challenges with the deal and notes the stock is up 65% since its upgrade in January. The firm raised its price target for shares to $32 from $29.
06:09 EDTGMGeneral Motors uses old Chevrolet Volt batteries to power IT building
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06:01 EDTAAStocks with implied volatility above IV index mean; NBG AA
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