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Stock Market & Financial Investment News

News Breaks
January 4, 2013
10:24 EDTABT, ALV, MSFT, WAC, FSL, ENDP, ILMN, LULU, WFC, WAT, SKT, LGND, JPM, FSLR, BBT, BK, DOLE, ABC, GBXOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Hold from Buy at Deutsche Bank... AmerisourceBergen (ABC) downgraded to Neutral from Buy at Mizuho... BB&T (BBT) downgraded to Neutral from Buy at Goldman... BNY Mellon (BK) downgraded to Neutral from Buy at Citigroup... Dole Food (DOLE) downgraded to Underperform from Buy at BofA/Merrill... First Solar (FSLR) downgraded to Underperform from Market Perform at Raymond James... JPMorgan (JPM) downgraded to Buy from Conviction Buy at Goldman... Ligand Pharmaceuticals (LGND) downgraded to Hold from Buy at Cantor... Tanger Factory (SKT) downgraded to Sell from Neutral at Goldman... Waters (WAT) downgraded to Equal Weight from Overweight at Morgan Stanley... Wells Fargo (WFC) downgraded to Neutral from Buy at Goldman... lululemon (LULU) downgraded to Neutral from Outperform at Credit Suisse... Illumina (ILMN)downgraded to Neutral from Outperform at Wedbush... Freescale (FSL) downgraded to Neutral from Overweight at JPMorgan.... Endo Health (ENDP) downgraded to Neutral from Overweight at Piper Jaffray... Walter Investment (WAC) downgraded to Neutral from Buy at Sterne Agee... Microsoft (MSFT) downgraded to Hold from Buy at Argus... Autoliv (ALV) downgraded to Neutral from Buy at Buckingham... Greenbrier (GBX) downgraded to Market Perform from Outperform at Avondale.
News For ABT;ABC;DOLE;BK;BBT;FSLR;JPM;LGND;SKT;WAT;WFC;LULU;ILMN;ENDP;FSL;WAC;MSFT;ALV;GBX From The Last 14 Days
Check below for free stories on ABT;ABC;DOLE;BK;BBT;FSLR;JPM;LGND;SKT;WAT;WFC;LULU;ILMN;ENDP;FSL;WAC;MSFT;ALV;GBX the last two weeks.
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July 11, 2014
08:04 EDTWFCWells Fargo reports Q2 net charge offs $717M
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08:04 EDTWFCWells Fargo reports loans $828.9B at June 30, up $2.5B from March 31
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08:02 EDTWFCWells Fargo CEO says 'optimistic' about bank's future
“Our strong results in the second quarter reflected the benefit of our diversified business model and our long-term focus on meeting the financial needs of our customers,” said Chairman and CEO John Stumpf. “By continuing to serve customers we grew loans, increased deposits and deepened our relationships. Our results also reflected strong credit quality driven by an improved economy, especially the housing market, and our continued risk discipline. We are committed to both maintaining strong capital levels and returning more capital to our shareholders. In the second quarter we increased our common stock dividend 17 percent and repurchased 39.4 million shares. We remain dedicated to building long-term shareholder value, and I am optimistic about the future as we continue to focus on meeting the needs of our consumer, small business and commercial customers.” CFO John Shrewsberry said, “The primary drivers of Wells Fargo’s business remained strong in the second quarter, with broad-based loan growth, increased deposit balances, and improved credit quality. Revenue increased linked quarter as the Company grew both net interest income and noninterest income, a reflection of Wells Fargo’s diversified business model. These solid fundamental business results led to an increase in pre-tax income linked quarter. Net income was down as the Company’s effective tax rate was lower in the first quarter due to a $423 million discrete tax benefit.”
08:01 EDTWFCWells Fargo reports Q2 EPS $1.01, consensus $1.01
Reports Q2revenue $21.07B, consensus $20.82B.
07:30 EDTWFCGlobal Interdependence Center to hold a summit
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07:20 EDTJPM, WFCBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:02 EDTLULUStocks with implied volatility below IV index mean; LULU LL
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July 10, 2014
15:55 EDTABTJoint venture with Fonterra a 'smart move' for Abbott, says Wells Fargo
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15:49 EDTWFCWells Fargo July weekly 52 straddle priced for 2% move into Q2
15:13 EDTWFCNotable companies reporting before tomorrow's open
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14:01 EDTABTAbbott and Fonterra to form strategic alliance for dairy farming in China
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13:24 EDTWFCEarnings Preview: Analysts divided on Wells Fargo ahead of results
Wells Fargo (WFC) is scheduled to report second quarter earnings before the open on Friday, July 11 with a conference call scheduled for 10:00 am ET. Wells Fargo is a bank holding company. EXPECTATIONS: Analysts are looking for EPS of $1.01 on revenue of $20.82B, according to First Call. The consensus range for EPS is 93c-$1.06 on revenue of $20.34B-$22.74B. LAST QUARTER: Wells reported stronger than expected first quarter results, as its net chargeooffs tumbled $594M year-over-year and its nonperforming assets sank 18% year-over-year. However, the bank’s revenue did decline to $20.6B, from $21.3B during the same period a year earlier. On May 20, Wells said that it was targeting a net payout ratio of 55%-75%. The bank defined net payout as dividend and share repurchases less issuances. The bank added that it would target return on equity of 12%-15%. Wells said it was "well-positioned for rising rates," and indicated that its competition was intensifying. On June 6, The New York Times reported that Wall Street's largest banks this year significantly cut the number of bonds they held, leaving them with a negative position in bonds in March, as they expected bond prices to drop, Since bond prices rose, a number of the large banks have said that their earnings would be hurt by this trade, the newspaper stated. STREET RESEARCH: In a note to investors on July 7, FBR Capital named Wells as one of its favorite names in the banking space. Wells is one of the banks that’s benefiting from above average loan growth while taking market share from its peers, according to the firm. Wells also has above-average growth prospects, high-quality earnings streams, and solid underlying fundamentals, FBR Capital stated. Conversely, Barron’s warned on June 30 that Wells’ stock looked pricey at $52.46. According to Barron’s, Macquarie predicted that the bank’s EPS growth was set to slow, while the stock rose more than it should have in the first half of 2014. Macquarie, which downgraded Wells to Underperform from Neutral on June 30, said that the bank’s core earnings had declined in the past four quarters, added Barron’s. Banks’ results remain challenging, as net interest income, fee revenues and core pre-provision earnings are all essentially unchanged since 2011, Oppenheimer wrote in a note to investors on July 7. Meanwhile, chargeoffs have likely hit bottom, the firm stated. But on a positive note, consumer lending is finally increasing and banks’ current expansion cycle likely has a few years to go, Oppenheimer believes. However, the firm kept a Perform rating on Wells Fargo. PRICE ACTION: Wells Fargo’s stock is up more than 14% this year and is not far from its 52-week high of $53.08.
10:22 EDTMSFTMicrosoft CEO prepares reshaping plans
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08:10 EDTABTMorgan Stanley's Vintage Values 2015 list selected
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06:29 EDTMSFTMicrosoft, Vitalwerks settle lawsuit, WSJ reports
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06:28 EDTWFCOptions expected to be active
Options expected to be active: LL PBPB VNO FDO WFC COST ZUMZ UAL BA
06:26 EDTMSFTTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:21 EDTJPMJPMorgan appoints Li as new China head, Reuters says
JPMorgan Chase (JPM) said it has appointed former UBS (UBS) banker David Li as the new head of its China division to replace top China banker Fang Fang who left the firm in March, according to Reuters, citing a statement from the U.S. company. Reference Link
06:18 EDTMSFTIDC: PC shipments in mature regions stabilizes market in Q2, DigiTimes
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06:06 EDTLULUStocks with implied volatility below IV index mean; LULU VLO
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