New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 9, 2014
12:18 EDTTM, ACI, NXST, CTCT, PG, WLT, SBGI, GM, AA, STZ, ANR, GTNOn 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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
February 22, 2015
14:20 EDTGMUAW chief says GM buyback proposal too much, premature, Reuters says
Dennis Williams, the president of the UAW, said that an investor group’s proposal that GM buy back $8B of its stock is premature, and the amount too high for the company’s long-term health, says Reuters. The UAW indirectly controls the largest single block of General Motors shares, added Reuters. Reference Link
February 20, 2015
08:11 EDTGMAlly CEO exploring subprime lending, sees loss of GM business, Detroit News says
Ally (ALLY) CEO Jeffrey Brown stated in a Thursday interview with The Detroit News that the company may return to offering credit cards and home mortgages, and currently plans to expand auto lending to subprime customers. The CEO said he expects to decide within 30-60 days whether Ally will consolidate its five locations to a single headquarters in the Detroit suburbs. Brown added that he expects GM (GM) to shift its $4.1B subsidized leasing program for Chevrolet from Ally to GM Financial, which the Ally CEO wants to offset by increasing subprime lending from 9% of total lending to 12%-15%. Reference Link
07:04 EDTGMAlly CEO assuming company will lose all of GM's leasing business, Reuters says
Subscribe for More Information
06:41 EDTGMApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
06:06 EDTGMGeneral Motors names Craig Glidden as new general counsel
General Motors (GM) announced yesterday that Craig B. Glidden has been appointed executive VP and general counsel, effective March 1. Glidden will lead a team of staff attorneys who are integrated into all of GM’s regional and functional teams in more than 30 countries. Glidden succeeds Michael Millikin, who is retiring in July after a nearly four-decade legal career, including five years as GM’s general counsel. Before joining GM, Glidden was executive VP and chief legal officer for LyondellBasell Industries (LYB).
February 19, 2015
09:37 EDTPGProcter & Gamble sese core EPS 'meaningfully' improving in 2H
Subscribe for More Information
09:21 EDTPGProcter & Gamble repeats FY15 currency neutral core EPS growth view
Subscribe for More Information
February 18, 2015
07:45 EDTSBGISinclair Broadcast sees FY15 barter and trade revenue $129.0M
Subscribe for More Information
07:44 EDTSBGISinclair Broadcast sees Q1 net broadcast revenues up 22.2%-23.3%
Subscribe for More Information
07:40 EDTSBGISinclair Broadcast reports Q4 adjusted EPS 84cc, consensus 76c
Reports Q4 revenue $613.8M, consensus $599.47M.
06:38 EDTGM, TMCar sales rose in Europe last month, NY Times says
European car sales increased 6.7% in January, versus the same period a year earlier, data from the European Automobile Manufacturers’ Association indicates, according to The New York Times. January was the 17th straight month that European car sales have increased, but they remain well below the levels they reached before the financial crisis, the newspaper stated. Publicly traded companies in the space include Fiat Chrysler (FCAU), Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
February 17, 2015
17:13 EDTGMPoint72 gives quarterly update on stakes
Subscribe for More Information
15:32 EDTSBGINotable companies reporting before tomorrow's open
Subscribe for More Information
13:02 EDTTMToyota announces recall of 230 Yaris hatchbacks, 20 Tacomas
Subscribe for More Information
09:20 EDTWLTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Vipshop Holdings (VIPS), up 10.9%... VASCO Data Security (VDSI), up 7.1%... Waste Management (WM), up 3.7%. ALSO HIGHER: Starwood Hotels (HOT), up 1.9% after appointing Adam Aron as interim CEO... Sarepta Therapeutics (SRPT), up 7.3% after being upgraded at BofA/Merrill... Navidea Biopharmaceuticals (NAVB), up 7.5% after publishing results of phase 3 Lymphoseek trial... Campus Crest (CCG), up 7.7% after announcing that it will explore strategic alternatives as well as Clinton Group and Campus Evolution proxy contest... Cyren (CYRN), up 7.1% following distribution agreement with ALSO Deutschland. DOWN AFTER EARNINGS: Helix Energy (HLX), down 13.3%... Walter Energy (WLT), down 10.1%. ALSO LOWER: Celsus Therapeutics (CLTX), down 82.3% after MRX-6 Cream 2% Phase II trial did not meet primary endpoint... Vascular Biogenics (VBLT), down 53.2% after reporting that VB-201 Phase 2 studies did not meet primary endpoints and removal of FDA partial clinical hold on VB-111... Vanguard Natural Resources (VNR), down 7.1% after reporting preliminary fourth quarter results.
07:38 EDTWLTWalter Energy expects met coal sales 8.5 MMT-9.0 MMT
Walter Energy expects met coal sales to total 8.5 to 9.0 MMTs in 2015. Capital expenditures in 2015 are expected to be in line with 2014, and the company expects to further reduce SG&A expenses by 10%. Cash interest expense is expected to approximate $265M for the year.
07:36 EDTWLTWalter Energy reports Q4 adjusted EPS ($1.97), consensus ($1.59)
Reports Q4 revenue $285.56M, consensus $326.55M.
07:15 EDTPGConsumer Analyst Group of New York (CAGNY) to hold a conference
Subscribe for More Information
06:57 EDTGMGM in court Tuesday over bankruptcy shield, WSJ says
Subscribe for More Information
05:58 EDTGMGeneral Motors recalls 81,000 Malibus, Pontiacs due to power steering issue
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use