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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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October 12, 2014
15:54 EDTCMCSA21st Century Fox's 'Gone Girl' wins at box office with $26.8M, Bloomberg says
21st Century Fox's (FOX, FOXA) “Gone Girl” took first place at the box office this weekend taking in $26.8M, says Bloomberg. "Dracula Untold,” from Comcast's (CMCSA) Universal Pictures came in second this weekend taking in $23.5M, added Bloomberg. Reference Link
October 10, 2014
17:57 EDTAAPLGT Advanced calls Apple demands 'burdensome, oppressive,' Bloomberg reports
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17:14 EDTAAPLMarket ends week lower amid global growth worries
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16:02 EDTAAPLActionable Options for Friday, October, 10
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15:42 EDTAALPlane held on Las Vegas tarmac over Ebola scare, Reuters reports
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15:30 EDTAAPLApple, Bose settle patent infringement litigation, CNBC reports
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13:17 EDTCMCSANielsen to restate some TV rating due to software glitch, Variety reports
Nielsen (NLSN) acknowledged it uncovered a software error on October 6 that had resulted in TV ratings being allocated incorrectly among broadcast and syndication programming since March 2 and that it would restate the ratings accordingly to fix the errors, reported Variety. The company said 98% to 99% of ratings would not be affected by more than .05 of a ratings point and a person familiar with the situation said some TV networks have an expectation that some of their new fall programming will see a very slight uplift due to the restatement, the report noted. The big four broadcast networks are operated by CBS (CBS), Comcast (CMCSA), Disney (DIS) and 21st Century Fox (FOXA). Reference Link
12:05 EDTDDUSDA raises U.S. corn production estimate to 14.475B
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11:40 EDTAALStocks with call strike movement; HTZ AAL
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10:12 EDTAAPLApple to remove Bose products from retail stores, MacRumors reports
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10:01 EDTSTXOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
10:01 EDTDDOn The Fly: Analyst Upgrade Summary
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09:38 EDTAAPLActive equity options trading on open
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08:06 EDTPFEPfizer presents Staphylococcus aureus vaccine Phase 1, Phase 2 study data
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07:39 EDTAAPLApple underappreciated but Icahn estimates aggressive, says UBS
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07:17 EDTFCitigroup and the Society of Automotive Analysts to co-host a summit
Automotive Investor Summit is being held in Southfield, Michigan on October 10.
07:08 EDTAAPLApple given at least 3 days to block info in GT bankruptcy case, Reuters says
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07:04 EDTCMCSA, AAPLAmazon in talks to join digital locker for movies. WSJ reports
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06:44 EDTFFord reports China unit sold 95,875 vehicles in September, Reuters says
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05:43 EDTDDDuPont upgraded to Buy from Hold at Jefferies
Jefferies upgraded DuPont to Buy citing the pullback in shares and its belief the company's capital return program should sustain low-teens earnings growth. The firm raised its price target for shares to $84 from $72.
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