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Stock Market & Financial Investment News

News Breaks
July 9, 2014
12:30 EDTAVAV, TCS, RAI, AA, BTI, GIMOOn 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
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May 28, 2015
14:44 EDTAAAlcoa, Century Aluminum shares lower after JPMorgan lowers price targets
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09:42 EDTAACentury Aluminum, Alcoa price targets lowered at JPMorgan
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09:34 EDTAAActive equity options trading on open
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May 27, 2015
12:26 EDTAAAluminum prices decline on excess supply, Bloomberg says
Aluminum prices have been under pressure as prices for the metal fell 9.4% in May in the largest monthly drop since October 2012, says Bloomberg. According to the Bloomberg report aluminum producers in China have been encouraged by cheap coal to operate their furnaces and may expand exports. Companies in the aluminum space include Alcoa (AA) and Century Aluminum (CENX). Reference Link
11:23 EDTRAIReynolds American, Lorillard higher after being granted FTC approval for deal
U.S. tobacco companies Reynolds American (RAI) and Lorillard (LO) are trading higher this morning after the Federal Trade Commission agreed to approve the companies' $27.4B merger under the condition that they divest some brands. WHAT'S NEW: The FTC last night said it would allow the merger between Reynolds and Lorillard to move forward under the condition that the companies sell four cigarette brands to Imperial Tobacco Group (ITYBY). The proposed order requires Reynolds to divest to Imperial four established cigarette brands: Winston, Kool, Salem and Maverick. The FTC also is requiring Reynolds to divest Lorillard's production facilities in Greensboro, North Carolina, and will give Imperial the opportunity to hire most of the existing staff at the facilities. Reynolds and Lorillard will also have to temporarily provide Imperial with retail shelf space. The last significant hurdle to close the deal is approval from a federal district court overseeing United States v. Philip Morris USA Inc., et al. According to a statement from Reynolds and Lorillard, "The companies have requested that the court rule expeditiously, and they are confident that the acquisition and related transactions will close by the end of June." WHAT'S NOTABLE: Marlboro brand owner Altria Group (MO) has a 47% U.S market share, followed by Reynolds with a 26% share and Lorillard (LO) at 14%, Reuters reported, citing 2013 data from Euromonitor International. ANALYST REACTION: In a note to investors this morning Cowen upgraded Reynolds American to Outperform from Market Perform with an $86 price target. The firm said that the FTC's clearance of the Reynolds and Lorillard deal is a positive for both and named Reynolds a top pick in U.S.tobacco. PRICE ACTION: Reynolds American is up 2.12% to $77.03 in late morning trading and Lorillard is up over 1% to $72.86. Imperial Tobacco is up 3.2% to $103.56 and Altria is up over 1% to $51.89.
10:01 EDTRAIOn The Fly: Analyst Upgrade Summary
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06:28 EDTRAIReynolds American upgraded to Outperform from Market Perform at Cowen
Cowen upgraded Reynolds American to Outperform with a $86 price target. The firm said the FTC's clearance of the Reynolds (RAI) and Lorillard (LO) deal is a positive for both and named Reynolds a top pick in U.S. tobacco.
May 26, 2015
18:00 EDTRAIFTC requires Reynolds, Lorillard to divest four brands as merger condition
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17:54 EDTRAIFTC requires Reynolds, Lorillard to divest four brands as merger condition
May 22, 2015
11:59 EDTRAI, BTIAppeals court ruling mixed for cigarette makers, WSJ reports
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May 21, 2015
15:44 EDTRAIReynolds-Lorillard deal expected to receive FTC clearance next week, WSJ says
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15:25 EDTRAILorillard, Reynolds American deal expected to be cleared by FTC, DJ reports
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May 19, 2015
16:34 EDTTCSConsolidated Tomoka acquires Arizona property for $8.6M and $6.2M loan pay off
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09:14 EDTAVAVAeroVironment: Volvo XC90 T8 plug-in hybrid to include TurboCord Dual charger
AeroVironment (AVAV) announced the portable TurboCord Dual charger will come standard with the 2016 Volvo XC90 T8 Twin Engine, which will debut later this year. The Volvo (VOLVY) XC90 T8 Twin Engine is the world’s first seven passenger plug-in hybrid electric vehicle.

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