New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 9, 2014
12:30 EDTRAI, AA, BTI, GIMO, AVAV, TCSOn The Fly: Midday Wrap
Stocks on Wall Street were moderately higher at midday, helped in part by better than expected earnings from Alcoa (AA), solid monthly numbers from the airlines sector, and a bounce from the two day losing streak that had seen the S&P lose 1% and the Nasdaq pullback by more than 2%. The market has been unable to gather any upside momentum and has moved in a narrow range throughout the morning, as investors await the release of the Fed’s FOMC minutes. ECONOMIC EVENTS: The minutes from the Federal Open Market Committee meeting held June 17-18 are scheduled to be released at 2:00 pm ET. In China, the producer-price index declined 1.1% from a year earlier, compared with a consensus forecast for a 1% drop. China's consumer-price index rose 2.3%, below projections for a 2.4% gain. COMPANY NEWS: Alcoa swung to a second-quarter profit of 18c a share on an adjusted basis, beating the consensus estimate of 7c a share, as its revenue also topped expectations. The aluminum producer, whose report is widely considered to mark the start of an earnings season, said its transformation is in "high gear" and that its cost position continues to improve. The stock rose 5% near midday following its report. MAJOR MOVERS: Among the notable gainers was AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems. The stock rallied 14% after the company reported better than expected fourth quarter results. Also higher was Reynolds American (RAI), which rose more than 2.5% after the U.K.'s Daily Mail reported that British American Tobacco (BTI), which currently holds a 42% stake in Reynolds, is speculated to be "on the verge" of buying out the remainder of its U.S. peer that it does not already own. Among the noteworthy losers was IT infrastructure technology provider Gigamon (GIMO), which was downgraded by at least five firms and plunged 32% after the company lowered its Q2 revenue guidance, citing challenges closing deals. Also lower following its earnings reports was specialty storage and organizational product retailer The Container Store (TCS), which fell 10%. INDEXES: Near midday, the Dow was up 36.86, or 0.22%, to 16,943.48, the Nasdaq was up 18.93, or 0.43%, to 4,410.39, and the S&P 500 was up 4.59, or 0.23%, to 1,968.30.
News For AA;TCS;GIMO;RAI;AVAV;BTI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 29, 2015
16:28 EDTRAIReynolds American, Lorillard to meet with FTC this week, WSJ says
Subscribe for More Information
March 27, 2015
07:52 EDTAAAlcoa April volatility elevated into Q1 and outlook
Subscribe for More Information
March 26, 2015
10:04 EDTTCSOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
08:00 EDTTCSContainer Store downgraded to Underweight from Hold at BB&T
Subscribe for More Information
March 24, 2015
09:38 EDTAAActive equity options trading on open
Subscribe for More Information
March 23, 2015
15:53 EDTRAICapitol Forum: FTC timing agreement for Lorillard deal extended, Bloomberg says
Capitol Forum reported earlier, citing a person familiar with the matter, that the FTC timing agreement for the review of Reynolds American's (RAI) proposed acquisition of Lorillard (LO) has been extended by one week to March 31.
06:59 EDTRAIBig Tobacco accused of trying to dampen e-cigarette sales, Reuters says
Subscribe for More Information
March 20, 2015
09:04 EDTGIMOGigamon's GigaVUE added to approved product list for Defense Dept
Subscribe for More Information
March 19, 2015
10:16 EDTAAAlcoa falls, levels to watch
Subscribe for More Information
March 17, 2015
14:35 EDTAAAlcoa to curtail 443,000 mtpy of alumina refining capacity at Suralco
Lightweight metals leader Alcoa announced that it plans to curtail 443,000 metric tons per year of alumina refining capacity at Suralco in Suriname. In addition, the company and the Government of Suriname have agreed to pursue a transaction for a Government-owned entity to acquire the Suralco operations. The curtailment and potential transaction are in line with Alcoa’s recent announcement to review upstream capacity for possible curtailment or divestiture and the company’s strategic goal to create a globally competitive commodity business. The curtailment, which represents one digester, is expected to be complete by April 30. Both parties now intend to pursue a transaction where a Government-owned entity would acquire Suralco, including the mining, refining and Afobaka hydroelectric operations. Following the appropriate due diligence, the parties are targeting to reach agreement on the proposed transaction by July 1. The company will work closely with unions and employees to reduce the impact of the curtailment on affected employees by offering fair severance packages. The Paranam refinery and related mining operations employ approximately 700 people, in addition to contracted personnel. The net financial impact associated with the curtailment is not expected to be material to the company’s earnings.
09:34 EDTAAActive equity options trading on open
Subscribe for More Information
07:08 EDTAAAlcoa weakness creates buying opportunity, says Stifel
Subscribe for More Information
March 16, 2015
16:00 EDTAAOptions Update; March 16, 2015
Subscribe for More Information

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