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Stock Market & Financial Investment News

News Breaks
December 5, 2012
16:29 EDTAVAV, PXP, P, TOT, MFRM, CIE, BAC, MMR, C, FCX, AAPLOn The Fly: Closing Wrap
Stocks on Wall Street were mixed on the day as the Dow and S&P 500 both finished in positive territory while the Nasdaq finished lower. Financial bellwethers Citigroup (C) and Bank of America (BAC) both gained over 5% on the session, while shares of Apple (AAPL) lost $37.05, or 6.43%, to close at $538.79, weighing on the Nasdaq... ECONOMIC EVENTS: In the U.S., ADP said employers added 118,000 jobs last month, which was below analysts' forecasts, but Superstorm Sandy was estimated to have cut the total by 86,000 jobs. The Labor Department revised its estimate for Q3 productivity growth up to an annual rate of 2.9% from its initial estimate of 1.9%. Factory orders rose 0.8% in October, versus expectations for them to be flat. The ISM non-manufacturing PMI rose to 54.7, versus expectations for it to slip to 53.5... COMPANY NEWS: Citigroup announced a sweeping workforce reduction that will see 11,000 jobs, or 4% of its employees, cut. Citi sees pre-tax charges of around $1B in Q4 due to the restructuring but expects the cuts to save $900M next year and slightly more after that. Citi shares rose $2.17, or 6.33%, to $36.46... Apple's steady, day-long slide was attributed to a number factors, including a DigiTimes report of slowing demand for iPhone parts, a decision by a clearing firm to increase its margin requirement on purchases of Apple's stock and a bearish technical development on its chart... Freeport McMoRan (FCX) announced a huge deal, agreeing to repurchase McMoRan Exploration (MMR) for $14.75 per share in cash and to acquire Plains Exploration (PXP) for $6.9B in cash and stock. Following the news, which was broken last night by Financial Times, shares of Freeport plunged $6.12, or 15.99%, to $32.16, while McMoRan Exploration surged $7.36, or 87.00%, to $15.82 and shares of Plains gained $8.45, or 23.44%, to $44.50... MAJOR MOVERS: Among the notable gainers were shares of Cobalt International Energy (CIE), up $4.43, or 18.63%, to $28.21 after announcing a Gulf of Mexico discovery in partnership with Total (TOT). Also higher were shares of AeroVironment (AVAV), up $2.68, or 13.23%, to $22.94 after reporting better-than-expected earnings after yesterday's close and receiving an upgrade to Neutral from Underperform at Sterne Agree. Among the noteworthy losers were shares Mattress Firm (MFRM), down $6.65, or 21.93%, to $23.67, and Pandora (P), down $1.65, or 17.46%, to $7.80 following disappointing earnings and guidance... INDICES: The Dow was up 82.71, or 0.64%, to 13,034.49; the Nasdaq was down 22.99, or 0.77%, to 2,973.70; and the S&P 500 was up 2.23, or 0.16%, to 1,409.28.
News For AAPL;C;BAC;FCX;MMR;PXP;CIE;TOT;AVAV;MFRM;P From The Last 14 Days
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August 20, 2015
10:22 EDTAAPLApple falls, levels to watch
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09:36 EDTAAPL, BACActive equity options trading on open
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09:10 EDTAVAVAeroVironment receives contract from U.S. Army totaling $3.4M
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08:45 EDTAAPLApple iPhone 6S may not pressure gross margins, says Bernstein
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06:13 EDTAAPLApple's Australian bonds raise $1.2B within two hours, SMH reports
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06:10 EDTTOTAuction for drilling leases attracts little interest, NY Times reports
A federal auction for drilling leases in the Gulf of Mexico Wednesday attracted only $22.7M in sales from five companies, the lowest since 1986, reports the New York Times. Most companies have insisted they would not sacrifice production in future years, but executives have recently expressed concern that the oil price collapse could last through 2016 and possibly even 2017. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
06:07 EDTCSamsung Bioepis picks Citi, Goldman as lead managers for IPO, Reuters says
Samsung Bioepis has selected Citigroup (C) and Goldman Sachs (GS) as the lead managers for its planned listening on Nasdaq next year, a source tells Reuters. Morgan Stanley (MS) and Credit Suisse (CS) will also take part in the listing for Samsung's (SSNLF) biosimilar drug development arm, the source says. Reference Link
06:07 EDTAAPLApple's 12.9-inch iPad to feature displays from Sharp, DigiTimes reports
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August 19, 2015
19:13 EDTAAPLSamsung to ask Supreme Court to review Apple patent ruling
Samsung (SSNLF) has filed court documents indicating it will ask the U.S. Supreme Court to hear an appeal of its Apple (AAPL) patent fight. Reference Link
17:44 EDTAAPLApple iPhone 6s to feature stronger metal body, MacRumors says
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17:37 EDTBACFINRA investigates Merrill Lynch over money laundering employee, Reuters says
The Financial Industry Regulatory Authority has been investigating Bank of America Merrill Lynch over a former employee who earlier pleaded guilty to an insider-trading and money laundering scheme, reports Reuters, citing a source familiar with the matter. FINRA could resort to enforcement action against the company, likely citing a breach of money laundering laws, according to the sources. Reference Link
16:00 EDTBAC, AAPLOptions Update; August 19, 2015
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11:14 EDTAAPLApple to open first Middle East store this year, Bloomberg reports
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10:58 EDTCCiti to pay $15M to settle SEC charges of compliance, surveillance failures
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10:06 EDTCCiti reports July credit loss 2.33% vs. 2.49% last month
Reports July delinquencies 1.46% vs. 1.42% last month.
09:33 EDTBAC, AAPLActive equity options trading on open
Active equity options trading on open: AAPL BAC FB BA TWTR NFLX WMT BABA
09:05 EDTPPandora price target raised to $25 from $20 at Rosenblatt
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07:52 EDTAAPLAnalog Devices growth being driven by Apple, says Jefferies
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06:35 EDTAAPLApple Stores to shift iPod stock to shelves, drop iPad smart signs, 9to5Mac says
Apple plans to make changes at its stores by relocating iPod stock to accessory shelves and removing iPad-based Smart Signs, 9to5Mac reports, citing several Apple Retail managers briefed on the plans. Apple will start to roll out these changes overnight on Tuesday of next week in the U.S., the report says. Reference Link
06:24 EDTCCiti to give back additional $4.5M in fee overcharges, Reuters reports
Citigroup subsidiary Citigroup Global Markets has reached an agreement with the New York attorney general to return $4.5M in account management fees charged on roughly 15,000 frozen accounts, Reuters reports. As a result of the deal, more than $20M will be refunded to Citi customers for overcharges in a probe started by New York attorney general Eric Schneiderman, the report says. Reference Link
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