New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 9, 2014
12:30 EDTBTI, GIMO, AVAV, TCS, RAI, AAOn 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 Fedís 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.
December 18, 2014
16:04 EDTAVAVAeroVironment initiated with a Neutral at Piper Jaffray
Subscribe for More Information
06:04 EDTAAAlcoa implied volatility of 48 at upper end of index mean range
Subscribe for More Information
December 17, 2014
16:00 EDTAAOptions Update; December 17, 2014
Subscribe for More Information
December 16, 2014
16:00 EDTAAOptions Update; December 16, 2014
iPath S&P 500 VIX Short-Term Futures up 1.55 to 34.60. Option volume leaders: AAPL TSLA TWTR AMZN FB C GILD BAC NFLX AA MGM MCD according to Track Data.
08:04 EDTAAAlcoa Q4 EPS should beat expectations, says Stifel
Subscribe for More Information
06:02 EDTAAAlcoa implied volatility of 46 at upper end of index mean range
December 15, 2014
09:38 EDTAAActive equity options trading
Subscribe for More Information
06:27 EDTRAILorillard, Reynolds investors to vote on merger on January 28, WSJ reports
Reynolds American (RAI) and Lorillard (LO) shareholders will vote on the proposed $25B merger on January 28, The Wall Street Journal reports. The FTC is continuing its antitrust review on the deal, and a ruling is expected in 1H15. Reference Link
06:20 EDTGIMOGigamon upgraded to Outperform from Market Perform at Raymond James
Price target is $20.
05:47 EDTAAAlcoa to acquire TITAL, terms not disclosed
Alcoa announced plans to further expand its global aerospace business through a definitive agreement to acquire privately held TITAL. The acquisition will strengthen Alcoaís global position to capture increasing demand for advanced jet engine components made of titanium. This transaction will further position Alcoa to capitalize on strong growth in the commercial aerospace sector. Alcoa projects a compounded annual commercial jet growth rate of 7% through 2019 and sees a current 9-year production order book at 2013 delivery rates. Almost 70% of TITALís revenues are expected to come from commercial aerospace sales in 2019. In 2013, the company generated revenues of approximately $96M, more than half of which came from titanium products. The acquisition will establish titanium casting capabilities in Europe for Alcoa, while expanding its aluminum casting capacity. TITAL employs more than 650 people, primarily in Bestwig, Germany. Financial details of the transaction were not disclosed.
December 11, 2014
14:02 EDTAAAlcoa plans $16.7M expansion to double high-tech coating capacity
Subscribe for More Information
December 9, 2014
16:00 EDTAAOptions Update; December 9, 2014
Subscribe for More Information
December 8, 2014
08:25 EDTRAIReynolds American CFO change not related to negative event, says RBC Capital
After Reynolds' CFO retired, RBC Capital says that the CFO's retirement appears to have been planned ahead of time and does not indicate any problems at the company. The firm keeps a Top Pick rating on the shares.
December 5, 2014
06:38 EDTAAAlcoa Micromill unveils automotive alloy that is 40% more formable, 30% stronger
Alcoa unveiled breakthrough manufacturing technology, the Alcoa Micromill, that will manufacture the most advanced aluminum sheet on the market. Micromill produces automotive alloy that is 40% more formable and 30% stronger than incumbent aluminum, while meeting stringent automotive surface quality requirements. Alcoa Micromill reduces the time to transform molten metal into aluminum coil from 20 days to 20 minutes. Alcoa has secured a strategic development customer, and from its pilot Micromill facility in San Antonio, TX, has also conducted successful customer trials. Those trials have validated the Micromill materialís unique characteristics, surface quality for exterior panels and overall performance. Alcoa is qualifying the material for use in next-generation automotive platforms.
December 4, 2014
16:36 EDTRAIReynolds American announces CFO transition plan
Andrew Gilchrist to become CFO effective March 1, 2015. Thomas Adams, current CFO, will begin transitioning the CFO role to Gilchrist in January. Adams plans to retire after the transition in March.
10:08 EDTAAOn The Fly: Analyst Initiation Summary
Subscribe for More Information
09:13 EDTAVAVAeroVironment reports $4.3M award, $7.1M option for Switchblade systems
Subscribe for More Information
07:06 EDTAAAlcoa initiated with an Outperform at Wells Fargo
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