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Stock Market & Financial Investment News

News Breaks
December 5, 2012
16:29 EDTP, MFRM, AVAV, TOT, CIE, PXP, MMR, FCX, BAC, C, 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 14, 2014
16:01 EDTAAPLOptions Update; August 14, 2014
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14:13 EDTCIE, AAPLOmega Advisors gives quarterly update on stakes
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10:05 EDTFCXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Adidas (ADDYY) downgraded to Neutral from Buy at Goldman... Fabrinet (FN) downgraded at B. Riley... Freeport McMoRan (FCX) downgraded at Stifel... Infosys (INFY) downgraded to Hold from Buy at Jefferies... InterMune (ITMN) downgraded to Neutral from Buy at Goldman... Jones Energy (JONE) downgraded to Neutral from Overweight at JPMorgan... LVMH Moet Hennessy (LVMUY) downgraded to Neutral from Buy at Goldman... Madison Square Garden (MSG) downgraded to Hold from Buy at Topeka... Qualys (QLYS) downgraded to Sector Perform from Outperform at RBC Capital... SeaWorld (SEAS) downgraded to Market Perform from Outperform at Wells Fargo... Theravance Biopharma (TBPH) downgraded to Underperform from Neutral at RW Baird... URS Corporation (URS) downgraded to Neutral from Buy at Sterne Agee... ViaSat (VSAT) downgraded to Perform from Outperform at Oppenheimer... Wynn Resorts (WYNN) downgraded to Hold from Buy at Gabelli.
09:54 EDTPPandora falls in early trading, levels to watch
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09:36 EDTAAPLActive equity options trading on open
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08:28 EDTBACBofA, DOJ still in talks over $17B settlement, NY Post says
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07:55 EDTAAPLApple bans two chemicals from iPhone, iPad final stages, AP says
Apple said its investigation at 22 factories found no evidence that two potentially hazardous chemicals, benzene and n-hexane, endangered the plants' workers, but the company is banning the use of those chemicals in the final assembly of iPhones and iPads, reported Associated Press, citing statements from the company. Apple is still allowing use of the two chemicals during the early production phases, but is lowering the maximum amount of benzene and n-hexane that can be present in the materials used during those phases. Reference Link
07:52 EDTFCXFreeport McMoRan downgraded at Stifel
As previously reported, Stifel downgraded Freeport McMoRan to Hold from Buy. The firm downgraded shares due to valuation.
07:25 EDTPCLSA to hold meetings
Silicon Valley Meetings consisting of meeting with various companies in the Silicon Valley area will be held on August 14-15.
06:40 EDTCCarlyle hires firms for Axalta IPO, Reuters says
Carlyle Group (CG) gave Citigroup (C) and Goldman Sachs (GS) leading positions in the possible IPO of Axalta Coating Systems just eighteen months after it acquired the firm from DuPont (DD) for $4.9B, according to Reuters, citing people familiar with the matter. One of the sources said that the IPO could bring in nearly $1B. Reference Link
06:19 EDTAAPLLenovo sees opportunities outside of China for smartphone business, WSJ reports
Lenovo CEO Yang Yuanqing tells the Wall Street Journal that although that China is still the most important market for its smartphone business, the company sees additional opportunities outside China. Reference Link
06:18 EDTFCXFreeport McMoRan downgraded to Hold from Buy at Stifel
05:54 EDTPStocks with implied volatility movement; JCP P
Stocks with implied volatility movement; J.C. Penney (JCP) 67. Pandora (P) 59 according to iVolatility.
August 13, 2014
16:00 EDTAAPLOptions Update; August 13, 2014
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12:48 EDTPPandora volatility elevated on wide price movement
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11:55 EDTPPandora CFO says company does not comment on takeover rumors
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11:41 EDTAAPLAmazon payment move complements e-commerce platform, says RW Baird
Baird said Amazon's (AMZN) launch of the "Local Register" payment and card reader system is not a surprise after the company's acquisition of assets from GoPago and that the move is complementary to Amazon's e-commerce platform. Baird said Amazon's system will compete with Square and eBay's (EBAY) payment product "Here" and added that it expects Google (GOOG) and Apple (AAPL) to expand their existing payment initiatives. The firm maintains its Outperform rating and $400 price target on Amazon.com.
09:37 EDTAAPLActive equity options trading on open
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07:19 EDTAAPLSiri creators working on new advanced AI system, Wired reports
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06:35 EDTPPandora coverage resumed with a Buy at Stifel
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