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Stock Market & Financial Investment News

News Breaks
December 5, 2012
16:29 EDTP, TOT, MFRM, CIE, AVAV, PXP, 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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February 18, 2015
03:20 EDTPOn The Fly: Analyst Initiation Summary
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February 17, 2015
17:02 EDTAAPLSoros Fund Management gives quarterly update on stakes
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16:22 EDTAAPLOn The Fly: Closing Wrap
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16:00 EDTC, AAPLOptions Update; February 17, 2015
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14:01 EDTCCiti reports January credit loss 2.30% vs. 2.79% last month
Reports January delinquencies 1.61% vs. 1.56% last month.
13:18 EDTAAPLOmega Advisors gives quarterly update on stakes
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12:50 EDTAAPLOn The Fly: Midday Wrap
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10:31 EDTAAPLApple rises as analysts applaud reported auto ambitions
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10:26 EDTBACBank of America reports January default rate 2.93% vs. 3.13% last month
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10:00 EDTPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Box, Inc. (BOX) initiated with a Hold at Canaccord... Euronav NV (EURN) initiated with an Overweight at Morgan Stanley... GoPro (GPRO) initiated with an Outperform at Northland... M/A-COM (MTSI) initiated with a Neutral at BofA/Merrill... Macy's (M) initiated with an Underweight at Barclays... NetSuite (N) initiated with an Underperform at Exane BNP Paribas... Omega Healthcare (OHI) initiated with a Neutral at BofA/Merrill... Pandora (P) initiated with a Neutral at Macquarie... Pattern Energy (PEGI) coverage resumed with an Outperform at BMO Capital... Regeneron (REGN) initiated with an Outperform at Bernstein... Trovagene (TROV) initiated with an Overweight at Piper Jaffray... Vista Outdoor (VSTO) initiated with a Market Perform at Cowen.
09:40 EDTC, AAPLActive equity options trading on open
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08:04 EDTCWuXi PharmaTech enters into loan agreement with consortium led by Citi
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08:01 EDTPPandora initiated with a Neutral at Macquarie
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07:32 EDTAAPLApple asking suppliers to make 5M-6M Apple Watches in Q1, WSJ says
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07:28 EDTAAPLApple design chief working on store redesign ahead of Watch, New Yorker says
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07:22 EDTAAPLMitsubishi UFJ to hold a tour
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07:15 EDTAAPLApple foray into autos would be logical, says Barclays
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07:08 EDTAAPLAuto market could be meaningful for Apple, says Cantor
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06:58 EDTTOTBrent oil reaches $62 per barrel, Reuters reports
Driven higher by Middle East turbulence, the price of brent crude oil reached $62 per barrel today, close to its 2015 high, according to Reuters. 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
06:39 EDTCBanks settle claims related to mortgage securities, Reuters says
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