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Stock Market & Financial Investment News

News Breaks
February 7, 2013
06:08 EDTJCI, ACTGAcacia Research subsidiary enters into license agreement with Johnson Controls
Acacia Research (ACTG) subsidiary HVAC Modulation Technologies has entered into a licensing agreement with Johnson Controls (JCI).
News For ACTG;JCI From The Last 14 Days
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January 26, 2015
06:04 EDTACTGAcacia Research subsidiary enters into license agreement with Arcadyan
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January 23, 2015
08:03 EDTJCIBrookfield acquires remaining 50% interest in JV with Johnson Controls for $200M
Brookfield Asset Management (BAM) announced that it has reached an agreement to acquire the other 50% of its Canadian and Australian facilities management businesses from Johnson Controls (JCI) for approximately $200M. This acquisition will facilitate a merger with its wholly owned businesses in the Middle-East and South America as part of a broader plan to create the leading global facilities management business. With the termination of its joint venture agreements with Johnson Controls, Brookfield will immediately launch its facilities management businesses in scale in the United States and Europe, building on client relationships across its 340M square feet property portfolio.
January 22, 2015
07:08 EDTJCIJohnson Controls agrees to form joint venture with Hitachi
Johnson Controls (JCI), Hitachi (HTHIY) and Hitachi Appliances have signed a definitive agreement on January 21 to form a previously announced global joint venture that will bring customers world-class variable refrigerant flow technology, as well as room air conditioners and absorption chillers to meet increasing demands for energy efficient air conditioning options. The Johnson Controls-Hitachi joint venture is expected to have 2016 sales of approximately $3.0B. The formation of the joint venture is expected to close in the fourth quarter of fiscal 2015, pending regulatory approvals.
07:07 EDTJCIJohnson Controls backs FY15 EPS view $3.55-$3.70, consensus $3.60
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07:06 EDTJCIJohnson Controls sees Q2 EPS 74c-76c
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07:06 EDTJCIJohnson Controls reports Q1 EPS ex-items 79c, consensus 77c
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January 21, 2015
20:11 EDTJCIJohnson Controls, Hitachi to form global HVAC joint venture
Johnson Controls (JCI), Hitachi, Ltd. (HTHIY) and Hitachi Appliances entered into a definitive agreement for their global joint venture while at the World Economic Forum in Davos, Switzerland. Through the agreement, Johnson Controls will obtain a 60% ownership stake in Hitachi Appliances' more than $2.6B global air conditioning business, excluding sales and service operations in Japan. The Johnson Controls-Hitachi joint venture will bring customers a full range of air conditioning products, including variable refrigerant flow technology, inverter technology based room air conditioners and absorption chillers – on top of existing Johnson Controls products that meet global customer demands.
15:27 EDTJCINotable companies reporting before tomorrow's open
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12:24 EDTACTGOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, as details of a reported bond buying program planned by the ECB offset weakness in the Dow after IBM's (IBM) earnings report. ECONOMIC EVENTS: In the U.S., housing starts rose 4.4% in December to a 1.89M rate, versus expectations for an increase of 1.2%, while building permits fell 1.9% to a rate of 1.03M, versus expectations of an increase of 0.8%. The Bank of Canada lowered its target for the overnight rate by one-quarter of one percentage point to 0.75% in response to the recent sharp drop in oil prices, which it said will be negative for growth and underlying inflation in Canada. Reports indicated that a proposal from the European Central Bank’s executive board is calling for it to begin making bond purchases of about EUR 50B per month and continue that easing program for at least one year. In Asia, the Bank of Japan refrained from expanding its stimulus program, although it expanded and extended its loan programs aimed at boosting bank lending. Also, the BoJ cut next fiscal year's CPI forecast to 1.0% from the 1.7% it had projected three months ago. COMPANY NEWS: Last night, IBM reported better than expected Q4 earnings, though its revenue and FY15 profit outlook trailed estimates, sending the stock down over 3% this morning. Citigroup cut its price target for IBM shares to $170 from $180 after reducing its sales and earnings estimates following the tech giant's Q4 results. Citi reiterated a Neutral rating on IBM, saying it wants to see stability in fundamentals and free cash flow growth before getting more positive on the name. Meanwhile, Jefferies said IBM's cash flow guidance for 2015 is "very weak" and that the company has yet to reach a bottom. The firm continues to believe the risk/reward for shares is skewed negatively and it kept an Underperform on IBM with a $130 price target following the company's Q4 results... Netflix (NFLX) jumped 17% to trade near $409 per share after the company reported stronger than expected fourth quarter results and a number of research firms raised their price targets for the stock while pointing out the company's global subscriber growth had exceeded expectations. Bucking the trend, FBR Capital analyst Barton Crockett said Netflix's EPS would only have been in-line with the consensus outlook if non-operating items were excluded. He said he is less impressed with Netflix following its report and trimmed his price target on the stock to $400 from $425 while keeping a Neutral rating on the shares. MAJOR MOVERS: Among the notable gainers following their earnings reports were Northern Trust (NTRS), which rose 6%, and U.S. Bancorp (USB), which gained 3.5%. Among the noteworthy losers was Eldorado Gold (EGO), which dropped 19% after the company reported on its 2014 gold production, gave guidance on production in 2015, and its shares were downgraded at Credit Suisse, TD Securities and Canccord. Also lower was Acacia Research (ACTG), which fell more than 14% after a court granted a motion finding no infringement of certain method claims asserted by the company's Adaptix subsidiary against Apple(AAPL), Verizon (VZ), AT&T (T), and HTC. INDEXES: Near midday, the Dow was up 42.03, or 0.24%, to 17,557.26, the Nasdaq was up 27.36, or 0.59%, to 4,682.21, and the S&P 500 was up 12.25, or 0.61%, to 2,034.80.
10:29 EDTACTGAcacia Research down almost 13% after patent ruling
Earlier today, Acacia Research (ACTG) announced its CEO and President Matt Vella will discuss the January 20th, 2015 ruling received by Adaptix, , a subsidiary of Acacia Research, relating to patent cases pending in the District Court for the Northern District of California. The Court’s ruling granted a motion finding no infringement of certain method claims asserted by Adaptix against Apple(AAPL), Verizon (VZ), AT&T (T), and HTC. Shares of Acacia Research are lower by almost 13% to $13.90 in morning trading.
07:22 EDTACTGAcacia Research to hold an investor conference call
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