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Stock Market & Financial Investment News

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February 14, 2014
16:46 EDTBAC, DAL, GT, GOOG, EMN, LNC, HTZ, MET, OC, CBS, HAL, SNDK, UAL, QCOM, HCA, BIDU, AALAppaloosa Management gives quarterly update on stakes
NEW STAKES: American Airlines (AAL), Halliburton (HAL), Eastman Chemical (EMN), Baidu (BIDU) and CBS (CBS). INCREASED STAKES: Google (GOOG), HCA Holdings (HCA) and Owens Corning (OC). DECREASED STAKES: Goodyear (GT), Qualcomm (QCOM), MetLife (MET). Delta (DAL) and United Continental (UAL). LIQUIDATED STAKES: Hertz (HTZ), Bank of America (BAC), Sandisk (SNDK) and Lincoln National (LNC).
News For AAL;HAL;EMN;BIDU;CBS;GOOG;HCA;OC;GT;QCOM;MET;DAL;UAL;HTZ;BAC;SNDK;LNC From The Last 14 Days
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March 16, 2015
10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
10:21 EDTHALHalliburton falls, heads for test of support
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10:02 EDTEMNOn The Fly: Analyst Downgrade Summary
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07:39 EDTCBSViacom shareholder meeting may question Viacom, CBS control, NY Post says
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06:45 EDTEMN, EMNEastman Chemical downgraded to Underperform from Outperform at CLSA
06:09 EDTQCOMStocks with implied volatility below IV index mean; CSCO QCOM
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March 13, 2015
11:36 EDTGOOGGoogle Apps security breach affects 282,867 domain owners, The Next Web says
Personal information for 282,867 Google Apps domain owners was exposed Friday, reports The Next Web, citing Google statements and a Cisco report. Names, addresses, email information, and phone numbers were made public, though a Google spokesperson stated, "We identified the root cause, made the appropriate fixes, and communicated this with affects Apps customers." Presently there is no evidence of malicious use. Reference Link
09:50 EDTGOOGActive equity options trading on open
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08:21 EDTGOOGGoogle price target raised to $681 from $640 at Cowen
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08:20 EDTGOOGGoogle not making aggressive domain name push, NY Post says
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05:54 EDTGOOGIDC: Worldwide tablet long term growth in low single digits, Digitimes says
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March 12, 2015
16:25 EDTBACOn The Fly: Closing Wrap
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16:01 EDTBACOptions Update; March 12, 2015
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12:29 EDTBACOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday. A slight bounce in the euro overnight lifted overseas markets and U.S. stocks followed. Stock futures were higher during early pre-market trading, then strengthened further following the report of lower than expected retail sales figures for last month, which gave investors hope the Fed will wait longer to raise interest rates. ECONOMIC EVENTS: In the U.S., headline retail sales fell 0.6% in February compared to the prior month, missing expectations for an increase of 0.3%. Retail sales excluding autos and gas declined 0.2%, versus the consensus estimate for a month-over-month increase of 0.3%. Initial jobless claims fell to 289K in the week ended March 7, versus the consensus forecast for 305K first-time claims. Business inventories were flat in January, versus the consensus forecast for them to grow 0.1%. In Asia, the Bank of Korea cut rates for the third time since last August, lowering its base rate to the historical low level of 1.75%. The decision came as a surprise, more in terms of the timing than the cut itself. Data from China showed the nationís M2 money supply growth picked up in February and its banksí new loan creation came in higher than expected as well. COMPANY NEWS: Shares of Intel (INTC) fell 4% after the chip-making giant lowered its Q1 revenue outlook to $12.8B, plus or minus $300M, compared to the previous expectation of $13.7B, plus or minus $500M, citing weaker than expected demand for business desktop PCs and lower than expected inventory levels across the PC supply chain. Some other stocks levered to PCs also slid, with Microsoft (MSFT) declining 2% and Advanced Micro Devices (AMD) sliding 3.5%. Hewlett-Packard (HPQ) shares were up fractionally, despite Intel's news and the fact that Barclays downgraded HP's stock this morning to Equal Weight, saying the weak euro could impact demand for PCs and printers... Citi (C), American Express (AXP) and Regions Financial (RF) were identified by analysts as being among the winners following the Fed's recently completed Comprehensive Capital Analysis and Review, or CCAR. Analysts were more cautious on Bank of America (BAC), after the Fed identified deficiencies in the bank's capital planning process and ordered it to resubmit its plan, but allowed it to proceed with its capital plan in the meantime. MAJOR MOVERS: Among the notable gainers was Amarin (AMRN), which jumped 27% after H.C. Wainwright upgraded the stock to Buy and raised its price target for shares to $10 from $2.50, citing management's commitment to completing the Vascepa outcomes' study REDUCE-IT. Also higher was Lumber Liquidators (LL), which rose 12.5% after the company held a call to update on the impact that 60 Minutes' recent critical report has had on its business. As part of the call, the flooring retailer reported on its recent sales trends, gave Q1 guidance and said it believes its cash flow from operations and existing liquidity sources will be sufficient to fund operations and anticipated capital expenditures for the "foreseeable future." Among the noteworthy losers was ACADIA (ACAD), which dropped 25% after announcing that it will delay submitting its NUPLAZID NDA for the treatment of Parkinsonís disease psychosis by two or three quarters and reporting that its CEO has retired. Also lower following their first earnings reports since coming public was Box, Inc. (BOX), which dropped 15%. INDEXES: Near midday, the Dow was up 183.31, or 1.04%, to 17,818.70, the Nasdaq was up 26.68, or 0.55%, to 4,876.62, and the S&P 500 was up 18.56, or 0.91%, to 2,058.80.
10:46 EDTBACCiti, American Express, Regions Financial seen as CCAR winners
Citi (C), American Express (AXP) and Regions Financial (RF) were identified by analysts as being among the winners following the Fed's recently completed Comprehensive Capital Analysis and Review, or CCAR. Analysts were more cautious on Bank of America (BAC) after the CCAR results were announced. WHAT'S NEW: Citi and Regions Financial were the biggest winners of the CCAR process, Deutsche Bank analyst Matt O' Connor wrote. Noting that Citi won approval to pay a quarterly dividend of 5c per share and buy back $7.8B of its shares, the analyst wrote that the figures were in-line with expectations or better than expected. Many investors probably were relieved by the news, the analyst stated. Addressing Regions Financial, O'Connor wrote that the bank's $875M share buyback plan was much higher than the $625M that Deutsche Bank had expected. The analyst had a mixed take on Bank of America. After the Fed identified deficiencies in the bank's capital planning process and ordered it to resubmit its plan, but allowed it to proceed with its capital plan in the meantime, the analyst wrote that the news was slightly disappointing. However, since some had worried that the Fed would reduce Bank of America's capital ratios when it exits parallel run, the news was positive overall for the bank, O'Connor wrote. Also upbeat on Citi and Regions was BMO Capital analyst Lana Chan, who predicted that Citi's stock should "re-rate" on the news and kept a $63 price target and Outperform rating on the shares. Regions Financial's buyback was 85% above Chan's forecast, she reported. The large size of the buyback indicates that the company believes its stock is undervalued, the analyst added. Bank of America "seems to have just squeaked by with a conditional pass," and its $4B share buyback plan "is more than a token," wrote Oppenheimer analyst Chris Kotowski . The analyst continued to recommend Bank of America's stock. American Express (AXP) was the "standout of the CCAR process," as it received permission for a total payout of over 100% to shareholders in 2015, Kotowski stated. The analyst, however, kept a Perform rating on AmEx shares. PRICE ACTION: In mid-morning trading, Citi jumped 3.2% to $54, Regions rallied 3.3% to $9.85, American Express added 1.5% to $80.62, and Bank of America slid 0.6% to $16.
10:06 EDTQCOMQualcomm could lose 'important part' of Apple business, The Information says
Qualcomm (QCOM) could lose "an important part" of its business at Apple (AAPL) to new component makers and Intel (INTC), said The Information's Amir Efrati. Reference Link
07:44 EDTBACDeutsche calls Citi, Regions biggest stress test winners
Deutsche Bank views Citi (C) and Regions Financial (RF) as the biggest winners coming out of the Federal Reserve's stress tests. Citi's non-objection, buybacks of $7.8B and a quarterly dividend of 5c were all in-line to better than expected, while Regions' buybacks of $875M was much higher than its $625M estimate, Deutsche points out. The firm believes KeyCorp (KEY), Morgan Stanley (MS) and SunTrust (STI) were also winners after announcing larger than expected buybacks. It views the results for Bank of America (BAC) as a "slight disappointment," but adds some investors may be relieved by the lack of rejection to the capital plan.
07:08 EDTBACBank of America risk/reward attractive, says RBC Capital
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06:23 EDTBACHSBC, Citi, others linked to foreign money laundering bank, WSJ says
HSBC (HSBC), Bank of America (BAC), Citi (C), and Deutsche Bank (DB) reportedly had correspondent-banking relationships with Banca Privada díAndorra, reports the Wall Street Journal, citing the Treasury Departmentís Financial Crimes Enforcement Network. The Treasury Department Tuesday labeled Banca Privada a "primary money-laundering concern" allegedly working with organized crime, and HSBC "immediately terminated" its relationship with the bank upon learning of the link, said a person familiar with the matter. The three other banks stated they will or have taken appropriate action, and the Treasury Department has not accused the firms of any wrongdoing. Reference Link
06:08 EDTQCOMStocks with implied volatility below IV index mean; AMZN QCOM
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