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Stock Market & Financial Investment News

News Breaks
April 10, 2013
13:04 EDTHMA, BIDU, TITN, CIEN, FAST, ADTN, BRLI, FNSR, KMXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday following the unexpected early release of the minutes from the Fed's last rate setting meeting in March. The move higher has pushed the S&P above its all-time closing high, which was established last week, and has seen it set a new all-time intraday record as well. In addition to the Fed minutes, the President unveiled a budget proposal that calls for tough entitlement cuts, but those come paired with increased revenues, and China unexpectedly reported a trade deficit caused by higher than expected imports... ECONOMIC EVENTS: In the U.S., the Federal Reserve decided to release the minutes from it last Federal Open Market Committee meeting at 9:00 am ET, which was five hours earlier than scheduled, because they were leaked yesterday to trade groups and some members of Congress. The minutes showed continued discussion over the costs and benefits of the Fed's bond-buying program, with several members saying it would "probably be appropriate to slow purchases later in the year and to stop them by year-end." However, many on the Street noted that the minutes were for a meeting that occurred prior to last Friday's disappointing monthly jobs report. Also, President Obama sent a $3.77T spending plan to Congress in a bid to revive deficit-reduction talks. In China, a rare trade deficit of $880M was reported for March, as imports surged 14.1% from a year earlier, outpacing a 10% rise in exports. Also of note, the World Trade Organization slashed its forecast for global trade growth in 2013 to 3.3% from its prior call for 4.5% growth, and S&P revised its outlook on Cyprus to Stable from Negative... COMPANY NEWS: Earnings season picked up a little bit of steam, with reports from ADTRAN (ADTN) and CarMax (KMX) sending their shares higher, while Titan Machinery (TITN) and Fastenal (FAST) declined following their quarterly results announcements... MAJOR MOVERS: Among the notable gainers was Baidu (BIDU), which rose over 6% following an upgrade to Buy from Hold at 86 Research. Also trading higher were a number of ADTRAN's peers, including Finisar (FNSR), up nearly 7%, and Ciena (CIEN), up about 6%, following the telecommunication equipment provider's better than expected report. Among the noteworthy losers were Health Management Associates (HMA), which fell 17% after its preliminary view of its quarterly results fell short of expectations, and Bio-Reference Labs (BRLI), which slid 7% in an apparent delayed reaction to a "whistleblower" suit filed against it last week but widely circulated today... INDICES: Near 1 pm ET, the Dow was up 147.54, or 1.01%, to 14,821.00; the Nasdaq was up 58.03, or 1.79%, to 3,295.89; and the S&P 500 was up 19.43, or 1.24%, to 1,588.04.
News For ADTN;TITN;KMX;FAST;BIDU;FNSR;CIEN;HMA;BRLI From The Last 14 Days
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June 19, 2015
10:00 EDTFNSROn The Fly: Analyst Downgrade Summary
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09:56 EDTKMXCarMax falls after earnings, levels to watch
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09:18 EDTFNSROn The Fly: Pre-market Movers
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09:14 EDTFNSRFinisar downgraded to Outperform at Raymond James
As previously reported, Raymond James downgraded Finisar to Outperform from Strong Buy and lowered its price target to $24 from $27. The firm is less positive regarding expense control and margins given increased competition among web scale customers.
07:36 EDTKMXCarMax reports Q1 EPS 86c, consensus 86c
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06:54 EDTFNSRFinisar downgraded to Outperform from Strong Buy at Raymond James
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June 18, 2015
19:00 EDTFNSROn The Fly: After Hours Movers
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16:06 EDTFNSRFinisar sees Q1 non-GAAP EPS 23c-29c, consensus 27c
Sees Q1 revenue $308M-$328M, consensus $318.04M. Sees Q1 non-GAAP operating margin 30.5%.
16:04 EDTFNSRFinisar reports Q4 non-GAAP EPS 25c, consensus 25c
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15:27 EDTKMXNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include CarMax (KMX), consensus 86c...KB Home (KBH), consensus 8c.
15:27 EDTFNSRNotable companies reporting after market close
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09:36 EDTKMXCarMax management to meet with Oppenheimer
Meeting to be held in Boston on June 25 hosted by Oppenheimer.
June 17, 2015
18:39 EDTBIDUNokia looks to German carmakers as it seeks $4B for map unit, Bloomberg says
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07:34 EDTBIDUKeyBanc remains a buyer of Baidu
KeyBanc said a sum-of-the-parts analysis suggests Baidu's valuation is attractive and is a more appropriate way to look at the stock given optionality around video and online travel following heavy investments. The firm expects steady core margins in 2015 and remains a buyer of shares. KeyBanc rates Baidu an Overweight with a $255 price target.
05:53 EDTBIDUBaidu mobile monetization concerns unwarranted, says Summit Research
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June 16, 2015
09:04 EDTCIENCiena, Cyan announce termiantion of HSR waiting period
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05:26 EDTBIDUBaidu subsidiary iQIYI paid subscribers reach 5M
iQIYI, an independently operated subsidiary of Baidu, announced that the company's paid streaming subscribers have reached 5M as of June 15, a 765% annual increase.
June 15, 2015
09:36 EDTKMXFollow-up: CarMax used car sales below expectations, says CL King
CL King said CarMax checks and industry data indicate Q1 used car sales are approximately 161,200 units, below its original estimate of 167,900 units. The firm lowered its Q1 EPS estimate to 81c from 83c, below consensus of 86c. Shares of CarMax are Buy rated.
09:31 EDTKMXCarMax checks indicate Q1 earnings at risk, says CL King
09:01 EDTCIENCiena selected by O2 to deploy nationwide network in the U.K.
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