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Stock Market & Financial Investment News

News Breaks
August 13, 2013
16:26 EDTAAPL, LCC, AAMRQ, OSIR, JOSB, UAL, DAL, PGEM, IOCOn The Fly: Closing Wrap
Stocks on Wall Street were higher following comments from a regional Fed president suggesting a September "taper" may be unlikely. The Fedspeak appeared to offset worse than expected retail sales data released earlier in the day. The Nasdaq logged the day's largest gain, boosted by a surge in shares of Apple (AAPL), which climbed following the disclosure by activist investor Carl Icahn of a large stake. ECONOMIC EVENTS: In the U.S., retail sales edged up 0.2% in July, missing expectations for a 0.8% increase. Retail sales excluding autos increased 0.5%, however, which was a bit above the 0.4% rise expected for that reading. Import prices rebounded to rise 0.2% in July after being down in the prior month, while export prices slipped 0.1% in July. Business inventories were flat in June, versus expectations for them to grow 0.2%. Comments made by Atlanta Fed President Dennis Lockhart near midday sent the averages higher, as Lockhart largely ruled out a September tapering of the Fed's asset purchases given recent economic and employment data. COMPANY NEWS: Apple gained $22.21, or 4.75%, to $489.57 after Carl Icahn announced on his Twitter account that he has built a "large" position in the iPhone and iPad maker. Icahn also tweeted that he had a conversation with Apple CEO Tim Cook today, during which he told Cook a larger share buyback should be done now. A late afternoon headline from Bloomberg said that Icahn's position in Apple is over $1B... The Department of Justice filed an antitrust lawsuit seeking to block the proposed merger of US Airways (LCC) and American Airlines' bankrupt parent AMR Corp. (AAMRQ), saying the tie-up will result in passengers paying higher fares and receiving less service. Following the news, AMR shares fell $2.64, or 45.44%, to $3.17 and US Airways fell $2.46, or 13.07%, to $16.36. MAJOR MOVERS: Among the notable gainers was Osiris Therapeutics (OSIR), which saw its shares more than double, adding $14.78, or 138.65%, to $25.44 after a clinical trial of its treatment for diabetic foot ulcers met the pre-specified stopping rules for "overwhelming" efficacy. Also higher were shares of JoS. A. Bank (JOSB), up $5.03, or 12.48%, to $45.33 after BeaconLight Capital sent a letter to the company's board saying its stock could be worth $70 if the company took "a few simple steps." Among the noteworthy losers were a number of airline stocks, including United Continental (UAL), down $2.48, or 7.47%, to $30.73, and Delta Air Lines (DAL), down $1.49, or 7.08%, to $19.55 after the DoJ filed to block the proposed merger between US Airways and AMR. Also lower following their quarterly reports were Ply Gem Holdings (PGEM), down $3.66, or 19.34%, to $15.26, and InterOil (IOC), down $8.47, or 10.09%, to $75.51. INDEXES: The Dow was up 31.33, or 0.20%, to 15,451.01; the Nasdaq was up 14.49, or 0.39%, to 3,684.44; and the S&P 500 was up 4.69, or 0.28%, to 1,694.16.
News For AAPL;LCC;AAMRQ;OSIR;JOSB;UAL;DAL;PGEM;IOC From The Last 14 Days
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October 9, 2014
09:10 EDTAAPLApple says will continue to evaluate capital return program, CNBC reports
After Carl Icahn urged Apple to make a tender offer that would meaningfully accelerate and increase the magnitude of its share repurchases, the company said in a statement to CNBC that is always appreciates the input of its shareholders and will continue to evaluate its capital return program.
08:53 EDTAAPLAbout 1,000 workers went on strike for several hours at Foxconn plant, WSJ says
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08:45 EDTAAPLIcahn says Apple should trade at $203 per share today
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08:42 EDTAAPLIcahn sees Apple launching UltraHD TV set in FY16
Carl Icahn stated in an open letter posted to his "Shareholder's Square Table" addressed to Apple CEO Tim Cook: "While Apple has not announced plans for a TV set and may never do so, we believe we have good enough reason to expect the introduction of an UltraHD TV set in FY 2016. We think television represents a large opportunity for Apple, one that reaches far beyond “the hobby” that Apple TV currently represents...As the home represents one compelling category for Apple, payments represents another...We estimate that, based upon Apple Pay’s rumored fee of 15 bps of all spend on credit and debit cards...and merchant deployment of NFC reaching 80%+ in 2017, Apple in the U.S. could generate revenues...of $2.5 billion in FY 2017 if it reaches 30% market share of all spend on U.S. credit and debit cards. The potential in the U.S. and internationally over a longer term is much larger."
08:41 EDTAAPLCooperman says Apple about 20% undervalued, still owns shares
Leon Cooperman of Omega Advisors is speaking on CNBC.
08:40 EDTAAPLIcahn calls Apple shares 'dramatically undervalued,' requests tender offer
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08:37 EDTAAPLIcahn calls Apple shares 'dramatically undervalued,' requests tender offer
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08:36 EDTAAPLIcahn requests Apple make tender offer for shares
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07:52 EDTUALUnited Continental price target raised to $58 from $53 at UBS
UBS raised its price target on United Continental to $58 from $53 following guidance from the company. The firm expects the stock to trade higher on the update and reiterates its Buy rating on United Continental shares.
07:51 EDTUALUnited Continental lowers Q3 capex view to $470M-$490M, maintains FY view
United Continental expects between $470M-$490M of gross capital expenditures in Q3, which is below previous guidance. The difference versus prior guidance is primarily attributable to certain capital expenditures having shifted from Q3 to Q4. There is no impact to full-year 2014 capital expenditure guidance, the company said.
07:49 EDTUALUnited Continental reports Q3 PRASM up 3.5%-4%
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07:24 EDTUALUnited Continental added to U.S. Focus List at Credit Suisse
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06:52 EDTAAPLTechnology producer settles China facility demonstrations, Reuters says
Hon Hai Precision Industry confirmed that it had settled a demonstration which involved close to 1K staff members at its Chongqing plant in China, and noted that manufacturing at the facility was not affected by the strike, according to Reuters, citing a statement from the company. Hon Hai constructs Apple (AAPL) products, as well as HP (HPQ) and Cisco (CSCO) computers and servers. The Chongqing facility isn't listed by Apple as one of its certified suppliers. Reference Link
06:48 EDTAAPLApple upgraded to Outperform from Perform at Oppenheimer
Oppenheimer upgraded its rating on Apple shares to Outperform saying the iPhone 6 will be the most successful phone launch to date "by far." Opco sees iPhone sales driving better than expected quarterly results into the first half of 2015 and believes Apple Pay and Apple Watch will keep investor interests high. The firm put a $115 price on shares. Apple closed yesterday up $2.05 to $100.80.
06:41 EDTAAPLApple upgraded to Outperform from Perform at Oppenheimer
06:33 EDTAAPLCourt considers whether to pay Amazon workers for security checks, WSJ says
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06:30 EDTAAPLApple suppliers push back plans to produce larger iPad, WSJ reports
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06:29 EDTAAPLIDC: Worldwide PC shipments down 1.7% in Q3, DigiTimes reports
Worldwide PC shipments are down 1.7% with 78.5M units shipped in Q3, reports DigiTimes, citing the IDC. Shipments in the US grew 4.3% to 17.3M, with growth centered from strong momentum in te portables category. Reference Link
06:26 EDTAAPLMIC: Taiwan smartphone shipments surpasses 5.4M in Q3, DigiTimes says
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06:26 EDTAAPLGoogle's tax arrangement facing new challenge by France, WSJ reports
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