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Stock Market & Financial Investment News

News Breaks
February 14, 2014
16:46 EDTEMN, LNC, HTZ, MET, OC, CBS, HAL, SNDK, UAL, QCOM, HCA, BIDU, AAL, BAC, DAL, GT, GOOGAppaloosa 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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January 14, 2015
15:00 EDTBACBank of America January 16 straddle priced for 3.3% movement into Q4
14:20 EDTDALDelta planning daily service between Los Angeles and Shanghai pending approval
Delta Air Lines plans to begin daily nonstop service between Los Angeles International Airport and Shanghai-Pudong Airport on July 9, 2015, pending U.S. Department of Transportation and foreign government approval. The Los Angeles market makes up 25% of all U.S.-Asia demand, and the start of Shanghai service marks Delta's fourth daily nonstop flight to the Asia-Pacific region in addition to Tokyo-Narita, Tokyo-Haneda and Sydney.
13:49 EDTDALDelta Air Lines January weekly volatility elevated into Q4
Delta Air Lines January weekly call option implied volatility is at 49, February is at 43, March is at 45; compared to its 26-week average of 37 according to Track Data, suggesting large near term price movement into the expected release of Q4 in January 20.
13:25 EDTBACEarnings Preview: Bank of America to report after mixed competitors' results
Bank of America (BAC), one of the largest banks in the U.S., is expected to report fourth quarter earnings before the open on Thursday, January 15, with a conference call scheduled for 8:30 am ET. EXPECTATIONS: Analysts are looking for earnings per share of 32c on revenue of $20.94B. The consensus range is 30c-39c for EPS on revenue of $20.39B-$21.48B, according to First Call. LAST QUARTER: Bank of America reported stronger than expected third quarter results, as it said its customer and client activity was "solid." Its net chargeoffs declined across most major portfolios versus the same period a year earlier, and its tangible book value increased 4% over the same period in 2013 to $14.13 per share. COMPETITORS' RESULTS: Wells Fargo (WFC) reported in-line fourth quarter profit and slightly higher than expected fourth quarter revenue. The bank said that its credit quality continued to improve last quarter. The bank's commercial and consumer loans, as well as its deposits also increased, it stated. However, its home lending originations fell to $44B from $48B in Q3. Also, JPMorgan (JPM) reported weaker than expected results, and noted that legal expenses lowered its EPS by 26c. Notably the results for JPMorgan's Corporate and Investment Bank sank significantly last quarter, compared with the previous quarter. The unit's net revenue fell to $7.4B from $9.1B, while its net income dropped to $972M from $1.7B. STREET RESEARCH: Large banks were hurt by trading volatility last quarter, research firm MKM Partners wrote last month. "Trading and investment banking are key quarterly swing factors" for Bank of America, the firm stated. MKM cut its Q4 EPS estimate for the bank by 9% to 32c. On the other hand, Barron's on December 27 named Bank of America as one of its ten favorite stocks for 2015. The bank had to absorb "massive legal charges" last year, but these charges should quickly decline in 2015, the magazine forecast. Bank of America trades at 12 times the consensus 2015 EPS estimate of $1.48, and its EPS is expected to reach about $2 by 2017, Barron's stated. Additionally, the bank will benefit if interest rates rise, Barron's believes. PRICE ACTION: Bank of America's stock has fallen 7% over the last month, and 5% over the last year.
12:49 EDTBACOn The Fly: Midday Wrap
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12:21 EDTGOOGGoogle to launch smartphone in test market of Puerto Rico, Tech Crunch says
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10:27 EDTGOOGFacebook, Google seen at front of 'multi-year' positive run for Internet stocks
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09:46 EDTGOOGGoogle initiated with a Buy at Rosenblatt
Target $575.
09:36 EDTBIDU, BAC, GOOGActive equity options trading
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09:16 EDTBACOn The Fly: Pre-market Movers
HIGHER: ZIOPHARM (ZIOP), up 53% after the company and Intrexon (XON) announced a licensing agreement with University of Texas. Intrexon shares are also up 12%... GameStop (GME), up 10.6% after reporting holiday SSS, providing guidance for the fourth quarter and fiscal 2014, and being upgraded at Pacific Crest... Smith Micro (SMSI), up 12.7% after reporting preliminary fourth quarter revenue and providing revenue guidance for the first quarter and fiscal 2015... BioCryst (BCRX), up 3.2% after receiving a positive opinion on EMA orphan drug designation for BCX4161... GoPro (GPRO), up 1% following analyst remarks that sell-off after yesterday's report on Apple (AAPL) patent was "overdone." DOWN AFTER EARNINGS: JPMorgan (JPM), down 2.7%... Wells Fargo (WFC), down 2.2%... Banking peers down as well, with Bank of America (BAC) down 2.8% and Citi (C) down 2%. ALSO LOWER: Tesla (TSLA), down 9% following comments made by CEO Elon Musk at an automotive conference in Detroit regarding a slowdown in China... New Media (NEWM), down 4.8% after 7M share spot secondary priced at $21.70... General Motors (GM), down 3% after giving 2015 guidance, saying it is on track to meet previously announced 2016 financial targets... Apple (AAPL), down 1% following lawsuit against Ericsson (ERIC) and countersuit filing.
09:05 EDTHCAHCA Holdings names Lyn Ketelsen Chief Patient Experience Officer
HCA announced the appointment of Lyn Ketelsen, RN, MBA, as the company’s first chief patient experience officer, effective February 23. In this role, Ketelsen will be responsible for leveraging best practices that have been developed at HCA’s 166 affiliated hospitals and other healthcare providers throughout the company to help ensure patients have the best experience possible.
08:15 EDTGOOGGoogle sentiment may be overly negative, says RW Baird
Baird believes investor sentiment for Google may be overly negative, exacerbated by the accelerating shift to mobile. The firm believes that 50%-60% of Google's revenues are already coming from Mobile, Video, Local Enterprise and other segments, which removes worries about desktop dependence. Baird also noted the company's valuation is at the low end of comparable multiples, suggesting a favorable risk/reward scenario. Baird reiterated its Outperform rating and $680 price target on Google shares.
08:00 EDTSNDKSanDisk weakness likely temporary, says Bernstein
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07:41 EDTGOOGGoogle risk/reward compelling, says SunTrust
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07:34 EDTBACNew rules prompt BofA to sever ties with 150 hedge funds, Bloomberg reports
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06:57 EDTBACBarclays appoints Jonathan Moulds as Group COO
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06:29 EDTGOOGCompanies reach new deal on worker hiring issue, Reuters says
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06:28 EDTCBSViacom downgraded to Sell from Buy at Citigroup
Citigroup downgraded Viacom (VIAB) two notches to Sell from Buy and lowered its price target for shares to $62 from $88. Citi says its new price target assumes a 50% probability that DISH (DISH) drops Viacom's channels. The firm sees 30% share downside risk should such an event occur. Citi lists two potential M&A deals that could offset the downside risk: Viacom acquiring CBS (CBS), which it feels would be neutral for the stock, or another media firm acquiring Viacom, which it feels could drive 20% upside for Viacom shares. Citi assumes a 10% probability of Viacom getting bought out.
06:14 EDTGOOGMediaTek: Worldwide tablet shipments rise at slower pace, DigiTimes says
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06:04 EDTQCOMQualcomm implied volatility of 34 at upper end of index mean range
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