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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.
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September 21, 2015
10:17 EDTPPandora trading resumes, shares now up 8% to $21.30
10:16 EDTPPandora jumps as investors await Copyright Royalty Board decision
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10:13 EDTPPandora trading halted for volatility after jumping $1.28 to $20.98
09:42 EDTBACBank of America to host special shareholder meeting
Special shareholder meeting to be held in Charlotte, NC on September 22 at 10 am.
09:40 EDTBAC, AAPLActive equity options trading on open
Active equity options trading on open: AAPL BAC ESV BABA FB NFLX TSLA TWTR GE GPRO JPM ONVO MU
09:39 EDTTOTTotal downgraded to Accumulate from Buy at Tudor Pickering
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09:09 EDTTOTSuncor to acquire additional interest in Fort Hills oil sands project
Suncor Energy (SU) announced that it has agreed to purchase an additional 10% working interest in the Fort Hills oil sands project from Total (TOT) E&P Canada Ltd., for total aggregate consideration of $310M at the time of announcement. As a result of this transaction, Suncor's incremental capital increase to Fort Hills is estimated at just over $1B of which approximately $700M is remaining project spend. Upon closing, Suncor's partnership share in the $15B project will increase to 50.8%. As part of the transaction, Suncor acquires a further proportionate interest in Fort Hills related logistics, including pipelines, storage terminals and third-party pipeline capacity agreements. The Fort Hills project is located in Alberta's Athabasca region, 90 kilometres north of Fort McMurray. The transaction is subject to closing conditions, including regulatory approval under the Competition Act. Teck has agreed to waive its right of first refusal to purchase a pro-rata share of the offering. The transaction is anticipated to close by the end of the year.
08:31 EDTAAPLApple says iPhone 6s, iPhone 6s Plus to arrive on Friday, September 25
Apple announced iPhone 6s and iPhone 6s Plus will be available at 8:00 a.m. local time on Friday, September 25 at Apple's retail stores. Stores will have the new iPhones available for walk-in customers who are encouraged to arrive early. Both models will also be available on Friday from AT&T, Sprint, T-Mobile, Verizon Wireless, additional carriers and select Apple Authorized Resellers. Apple also announced the fastest iOS adoption ever, with more than 50 percent of devices already using iOS 9. Apple says "iPhone 6s and iPhone 6s Plus bring a powerful new dimension to iPhone's revolutionary Multi-Touch(TM) interface with 3D Touch, which senses how deeply you press the display, letting you do essential things more quickly and simply. The new iPhones introduce Live Photos, which bring still images to life, transforming instants frozen in time into unforgettable living memories. Live Photos, 3D Touch, 12-megapixel iSight camera, 5-megapixel FaceTime HD camera with Retina Flash and more are powered by the Apple-designed A9 chip, the most advanced chip ever in a smartphone, delivering faster performance and great battery life. iPhone 6s and iPhone 6s Plus are designed with the strongest glass on any smartphone and 7000 series aluminum, the same alloy used in the aerospace industry, in gorgeous metallic finishes that now include rose gold."
08:22 EDTAAPLApple survey suggests strong iPhone demand, says Baird
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07:43 EDTAAPLApple surveys indicate iPhone increasing high-end share, says Canaccord
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07:37 EDTBACPension funds votes against combining BofA chair, CEO roles, Retuers says
The Florida State Board of Administration, echoing votes against Bank of America from pension funds in New York and California, has voted its 21.7M shares against bylaw changes that would allow the bank to combine its chairman and CEO roles, reported Reuters. Reference Link
06:58 EDTBACBank of America CEO expects to retain dual roles, NY Post reports
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06:36 EDTBACFormer Wells Fargo CEO: BofA shareholders should back off Moynihan, Reuters says
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06:34 EDTAAPLSamsung may be planning leasing program for Galaxy phones, Forbes reports
Samsung (SSNLF) is rumored to be planning to launch a leasing program for its Galaxy phones in the U.S., similar to the program Apple (AAPL) recently announced, Forbes reports, citing an industry executive with knowledge of Samsung's plans. According to the source, Samsung could launch the leasing program in the next few months. Apple's iPhone Upgrade Program encourages consumers to buy iPhones directly from the Apple Store instead of going through carriers, the publication notes. Publicly traded wireless carriers include AT&T (T), Verizon (VZ), Sprint (S) and T-Mobile US (TMUS). Reference Link
06:24 EDTAAPLFoxconn seeks to acquire Sharp's LCD business, Nikkei reports
Taiwan's Hon Hai Precision Industry, better known as Foxconn (HNHPF) has offered to buy Sharp's (SHCAY) struggling LCD business and plans to seek funding from Apple (AAPL), a key Sharp customer, The Nikkei reports. According to the report, Foxconn would take a majority stake in a LCD company spun off by Sharp, with Apple also making an investment. Reference Link
06:07 EDTAAPLApple hit by rare malware in China, Financial Times reports
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06:07 EDTAAPLApple meets with regulators to discuss self-driving cars, Financial Times says
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September 20, 2015
20:19 EDTBACBank of America CEO to cut additional jobs, NY Post says
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14:46 EDTAAPLCompany split may not end troubles at Hewlett-Packard, Barron's says
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12:49 EDTAAPLGoPro shares could fall another 30% to $25, Barron's says
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