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Stock Market & Financial Investment News

News Breaks
January 28, 2014
12:36 EDTAAPL, CBM, AAL, DD, STX, GLW, F, CMCSA, PFE, RCIIOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday with the Nasdaq unable to overcome the weight of Apple (AAPL), which was sharply lower following its earnings report last night. The higher than expected consumer confidence reading offset a disappointing report on durable goods orders and appeared to help the S&P and Dow hold onto their gains near the lunch hour. ECONOMIC EVENTS: In the U.S., durable goods orders dropped 4.3% in December from a revised November figure, missing expectations for an increase of 1.5%. The S&P/Case-Shiller 20-city composite home-price index showed prices rose 13.7% from the prior year in November, which was roughly in-line with economists' forecast. Home prices in the twenty cities dipped by a seasonally adjusted 0.88% in November from October. The Conference Board's consumer confidence index climbed to a five month high reading of 80.7 in January, beating expectations for it to remain nearly unchanged near 78. The Richmond Fed manufacturing survey for January slide to 12 from a prior month reading of 13. COMPANY NEWS: Shares of Apple (AAPL) declined more than 7% after the tech giant reported earnings and revenue that beat expectations, but gave a second quarter revenue outlook that came in below expectations. The company said its Holiday quarter iPhone sales grew to 51M units, but even that large number missed the lofty forecasts of many of Wall Street analysts. The company reported Holiday quarter sales of 26M iPads and 4.8M Macs, both of which were increases from the prior year. Apple shares were downgraded to Outperform from Strong Buy at Raymond James following the report and Oppenheimer also cut its rating on Apple this morning, but at least five other research firms said that weakness in the stock presents a buying opportunity. Also, noted investor and vocal Apple shareholder Carl Icahn took to Twitter to announce he had purchased an additional $500M worth of Apple shares this morning... Pfizer (PFE) led the advancers on the Dow Jones Industrial Index with gains of over 2% after the pharmaceutical maker's profits, adjusted for certain non-recurring issues, beat analysts' consensus forecast. Among other large companies reporting results this morning, Comcast (CMCSA) and Ford (F) advanced, while Corning (GLW) and Du Pont (DD) declined. MAJOR MOVERS: Among the notable gainers was American Airlines (AAL), which rose nearly 5% after the company recently formed from the combination of the former US Airways and AMR Corporation reported earnings and revenue that beat forecasts. Also higher was Cambrex (CBM), which gained more than 16% after its stock was upgraded to Overweight from Equal Weight at First Analysis. Among the noteworthy losers was Rent-to-own retailer Rent-A-Center (RCII), which plunged nearly 20% after the company's fourth quarter results and fiscal 2014 profit guidance fell significantly below expectations. Also lower were shares of Seagate (STX), which slid over 11% after the company reported weaker than expected results, though analysts at Pacific Crest said the stock was still attractive after the miss and Needham recommended using the post-earnings pullback as a buying opportunity. INDEXES: Near midday, the Dow was up 75.98, or 0.48%, to 15,913.86, the Nasdaq was down 1.30, or 0.03%, to 4,082.31, and the S&P 500 was up 8.71, or 0.49%, to 1,790.27.
News For AAPL;PFE;CMCSA;F;GLW;STX;DD;AAL;CBM;RCII From The Last 14 Days
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September 16, 2014
11:16 EDTAAPLVirnetX plunges after appeals court vacates jury award in suit with Apple
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11:09 EDTAAPLVirnetX wins mixed ruling in patent case with Apple, Bloomberg reports
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10:54 EDTFFord, Automatic Labs working together on connected-car solutions
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10:52 EDTAAPLApple, China Mobile trade lower as iPhone 6 unlikely to debut in China this year
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10:31 EDTAAPLApple has a bearish pattern on 1-day basis, levels to watch
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10:22 EDTAAPLBanks set for ad battle to be default choice for Apple Pay, Apple Insider says
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10:12 EDTAAPLApple's iPhone 6 NFC chip restricted to Apple Pay, The Verge reports
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10:09 EDTAAPLApple iPhone 6 launch timing concerns in China overdone, says Susquehanna
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX TSLA YHOO FB PBR MU AA TWTR WMT
09:13 EDTAAPLApple may need to wait until 2015 to launch iPhone 6 in China, Bloomberg says
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08:46 EDTFGeneral Motors concerns about Ford's new F-Series are overdone, says Goldman
Goldman believes concerns about Ford's new F-Series impact on General Motors is overdone. The analyst said investors are underestimating F-150 capacity constraints if the launch is successful, which will limit General Motors share loss.
08:16 EDTFStrike at Lear plant that supplies Ford seats ends after one day, AP reports
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07:27 EDTCMCSABofA/Merrill to hold a conference
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07:26 EDTFUltima Media to hold a conference
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07:19 EDTAAPL, PFECompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
06:42 EDTAAPLPayPal running ads against Apple Pay, Business Insider reports
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06:36 EDTAAPLiPhone 6/6 Plus may suffer similar iPhone 5s/5c inventory issues, DigiTimes says
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06:30 EDTFNHTSA chief calls for 'new normal' for recalls, Detroit News reports
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06:28 EDTAAPLLenovo, Huawei look to pose threat in high-end smartphone segment, DigiTimes says
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05:56 EDTCMCSAIAC names NBCU Cable Entertainment Chairman Bonnie Hammer to board
IAC (IACI) yesterday announced the appointment of Bonnie Hammer to the company's Board of Directors, effective September 12. Hammer serves as Chairman, NBCUniversal Cable Entertainment (CMCSA), where she leads NBCUniversal's entire cable entertainment portfolio including USA, Syfy, E! Entertainment, Bravo, Oxygen, Esquire Network, Sprout, Chiller and Cloo, as well as production entities Universal Cable Productions and Wilshire Studios.
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