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Stock Market & Financial Investment News

News Breaks
December 5, 2012
16:29 EDTMFRM, CIE, AVAV, PXP, P, TOT, FCX, AAPL, BAC, MMR, COn 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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May 15, 2015
10:15 EDTBACBank of America reports April default rate 2.93% vs. 2.94% last month
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09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL TWTR TSLA NFLX FB
07:50 EDTCDOJ tearing up prior UBS rigging settlement after new violations, WSJ reports
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06:17 EDTBACBank of America CEO still struggles to move past financial crisis, WSJ reports
Five years into his job as Bank of America CEO, Brian Moynihan is still struggling to move past the financial crisis, which is testing his reputation as a "fixer" as well as the patients of investors who are concerned about his progress in turning the bank around, The Wall Street Journal reports. Reference Link
06:13 EDTPPandora to appeal unfavorable court decision against BMI, AP reports
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May 14, 2015
19:11 EDTAAPLApple job listing hints at map service overhaul
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18:39 EDTAAPLApple, others raise objections to sale of RadioShack customer data, Law360 says
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17:36 EDTAAPLApple responds to rumored HomeKit delay, says first device next month, WSJ says
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17:17 EDTAAPLApple submits patent application to expand 'home button' features
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16:00 EDTFCX, AAPL, BACOptions Update; May 14, 2015
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14:04 EDTAAPLApple delays launch of HomeKit to early fall, Fortune reports
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13:28 EDTFCXIncreasing equity options volume
Increasing equity options volume: FCX UPS KSS CHK CSCO AVP YOKU CALM KORS
10:14 EDTFCXFreeport McMoRan call activity attributed to takeover speculation
Freeport McMoRan May 23 and 23.5 calls are active on total call volume of 14K contracts (1K puts) on takeover speculation. May call option implied volatility is at 34, June is at 40, October is at 38; compared to its 26-week average of 40. Active option volume suggests traders taking positions for wide price movement.
10:05 EDTFCXRumor: Freeport McMoRan strength attributed to takeover speculation
The 3% move higher in shares of Freeport McMoRan is being attributed to speculation of a takeover.
09:34 EDTAAPLActive equity options trading on open
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07:34 EDTAAPLApple search volume continues to surge in China, says UBS
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06:49 EDTCBanks to pay several billion over alleged currency violations, NY Times says
Barclays (BCS), JPMorgan Chase (JPM), Citigroup (C) and the Royal Bank of Scotland (RBS) are expected to agree to pay a combined "several billion dollars" as part of a settlement with the U.S. over alleged foreign exchange rigging, according to The New York Times, which cited unnamed sources. The banks are also expected to plead guilty to criminal antitrust violations, but it is not anticipated that their operations will be significantly affected as a result of those pleas, the newspaper stated. Meanwhile, UBS (UBS) will pay a fine of up to $500M related to alleged "foreign currency misconduct," the newspaper stated. Reference Link
06:29 EDTAAPLApple Music to have deep social integration for artists, 9to5Mac reports
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06:17 EDTAAPLApple plans expansion of key Irish plant, Irish Independent reports
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06:16 EDTAAPLApple and A123 prepare to settle employee-poaching lawsuit, WSJ reports
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