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Stock Market & Financial Investment News

News Breaks
June 3, 2014
07:28 EDTHIG, AMP, RE, CNO, ALL, PFG, AXS, AIGWells Fargo to hold a forum
5th Annual Wells Fargo Insurance Forum to be held in Boston on June 3.
News For AIG;ALL;AMP;AXS;CNO;HIG;PFG;RE From The Last 14 Days
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April 22, 2015
15:30 EDTAMPNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include eBay (EBAY), consensus 70c... Facebook (FB), consensus 40c... Texas Instruments (TXN), consensus 62c... Las Vegas Sands (LVS), consensus 72c... Qualcomm (QCOM), consensus $1.33... AT&T (T), consensus 62c... F5 Networks (FFIV), consensus $1.50... Plexus (PLXS), consensus 69c... Skechers (SKX), consensus $1.01... Select Comfort (SCSS), consensus 41c... Tractor Supply (TSCO), consensus 41c... Covanta (CVA), consensus (8c)... Crown Castle (CCI), consensus $1.09... Torchmark (TMK), consensus $1.05... Ameriprise (AMP), consensus $2.33... Polycom (PLCM), consensus 21c... Citrix (CTXS), consensus 65c... Core Laboratories (CLB), consensus 85c... Graco (GGG), consensus 78c... Cheesecake Factory (CAKE), consensus 48c... Equifax (EFX), consensus $1.02... SLM (SLM), consensus 7c... Xilinx (XLNX), consensus 50c... O'Reilly Automotive (ORLY), consensus $1.94... Susquehanna (SUSQ), consensus 18c... Raymond James (RJF), consensus 83c... SL Green Realty (SLG), consensus $1.49... CoreLogic (CLGX), consensus 31c... Oceaneering (OII), consensus 62c... Valmont (VMI), consensus $1.49... Brandywine Realty (BDN), consensus 32c... Weatherford (WFT), consensus 1c.
05:49 EDTAXSPartnerRe downgraded to Neutral from Buy at UBS
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April 20, 2015
16:02 EDTHIGHartford Financial names Kathy Bromage Chief Marketing, Communications Officer
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April 17, 2015
09:12 EDTAXSIndustry bankers see Argo Group at potential takeout target, dealReporter says
Recently announced deals in the insurance space, such as PartnerRe’s (PRE) proposed merger with AXIS Capital (AXS) and the subsequent bid for PartnerRe from Exor, could provide "compelling logic" for a takeover of Argo Group (AGII), industry bankers told dealReporter, according to contacts.
08:52 EDTPFG, CNOFBR says draft fiduciary rule now viewed as 'fairly onerous'
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08:29 EDTAIGAIG reserves to become tailwind this year, says Bernstein
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April 16, 2015
08:56 EDTAIGAIG says Doug Steenland to succeed Steve Miller as non-executive chairman
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07:26 EDTAIGAIG shares remain attractive, says Deutsche Bank
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April 15, 2015
16:34 EDTAIGAIG invests in K2 Intelligence
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15:56 EDTAIGAIG to invest in K2 Intelligence, NY Times says
AIG plans to announce that it has made an investment in investigations firm K2 Intelligence, though terms of the investment were not disclosed, reported The New York Times. Reference Link
13:28 EDTPFGPrincipal International reports AUM $107.6B as of March 31
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10:36 EDTALL, AIGBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
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10:03 EDTAMPHigh option volume stocks
High option volume stocks: SKS NSAM AMP CTXS KS WUBA CIT OC ASML SLM
10:00 EDTAMPOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: American Tower (AMT) upgraded to Outperform from Neutral at Macquarie... Ameriprise (AMP) upgraded at Morgan Stanley... Builders FirstSource (BLDR) upgraded to Buy from Neutral at Sterne Agee... China Telecom (CHA) upgraded to Outperform from Market Perform at Bernstein... China Unicom (CHU) upgraded to Outperform from Underperform at Bernstein... Discover (DFS) upgraded to Overweight from Neutral at JPMorgan... EV Energy (EVEP) upgraded on asset sale at RBC Capital... GoPro (GPRO) upgraded to Overweight from Neutral at Piper Jaffray... Intel (INTC) upgraded on valuation at RBC Capital... Nike (NKE) upgraded to Overweight from Neutral at Piper Jaffray... Nokia (NOK) upgraded to Market Perform from Underperform at Bernstein... Rice Energy (RICE) upgraded to Buy from Neutral at Goldman... Staples (SPLS) upgraded to Buy from Hold at BB&T... Team (TISI) upgraded to Buy from Hold at BB&T... Ulta Salon (ULTA) upgraded to Overweight from Neutral at Piper Jaffray.
08:07 EDTAMPAmeriprise upgraded at Morgan Stanley
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08:03 EDTAMPCiti sees DOL rules as 'exceptionally bullish' for RCS Capital
The Department of Labor yesterday released the proposed rules on fiduciary standards in an attempt to reduce conflicts of interest between brokers/advisors and clients, Citigroup points out. Citi views the rules as a "manageable outcome" that is less onerous than the scenario built into select Broker Dealer stocks. The firm believes the development is "exceptionally bullish" for RCS Capital (RCAP) and favorable for LPL Financial (LPLA) and Ameriprise (AMP).
06:44 EDTAMPAmeriprise upgraded to Overweight from Equal Weight at Morgan Stanley
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April 14, 2015
19:02 EDTAXSAXIS Capital acknowledges Exor made unsolicited proposal for PartnerRe
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12:24 EDTAXSOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday despite better than expected headline earnings from JPMorgan (JPM), Wells Fargo (WFC) and Johnson & Johnson (JNJ). The market began the session in positive territory on the heels of those solid earnings reports, but the averages were unable to hold their early gains as the retail sales figures released during the pre-market trading session missed expectations. ECONOMIC EVENTS: In the U.S., retail purchases grew 0.9% in March, rebounding from a 0.5% decline in February. However, economists were expecting a more pronounced 1.1% advance in recovery from the prior month's weather driven weakness. The producer price index rose 0.2% in March, matching expectations. The core PPI, which excludes food and energy, grew 0.2% as well, versus expectations for it to have risen 0.1%. Business Inventories grew 0.3% in February, versus expectations for them to be up 0.2%. The International Monetary Fund, in its latest World Economic Outlook Report, trimmed its U.S. growth forecast to a 3.1% pace from its prior 3.6% view, but left its global forecast intact at a 3.5% rate. COMPANY NEWS: Shares of JPMorgan advanced 1.5% after its headline earnings per share topped expectations, even before accounting for 13c per share in aftertax legal expense that the bank identified as a "significant item." Conversely, fellow large bank Wells Fargo (WFC) slid 1.5% after its own report on first quarter results, despite the fact that its earnings and revenue both topped the consensus forecast... Shares of Johnson & Johnson (JNJ) were fractionally higher at midday after its first quarter earnings and revenue beat expectations. The multinational company, however, lowered its FY15 adjusted earnings outlook, citing further negative foreign currency movements... Nokia (NOK) and Alcatel-Lucent (ALU), in response to "recent media speculation," confirmed that they are in advanced discussions with respect to a potential full combination, which would take the form of a public exchange offer by Nokia for Alcatel. MAJOR MOVERS: Among the notable gainers was 58.com (WUBA), which jumped 25% after Financial Times reported the company has signed a memorandum of understanding to merge with peer Ganji.com to create one of the largest specialized online classified companies in China. Also higher was PartnerRe (PRE), which advanced nearly 9% to trade near $129.50 after Europe based investment company EXOR announced that it submitted a written proposal to acquire 100% of the common shares of the company for $130.00 per share in cash, valuing PartnerRe at $6.4B. EXOR said its all-cash proposal represents a 16% premium to the implied value per share of $112.53 for PartnerRe under the merger deal it has in place with AXIS Capital (AXS). Among the noteworthy losers was Arrowhead Research (ARWR), which tumbled over 6% after Jefferies downgraded the stock to Hold and cut its price target for shares to $9 from $30 after assuming coverage of the stock. The firm said that while ARC-520 offers the potential for a Hepatitis B virus functional cure, it prefers to wait for multi-dosing data. Also lower was Norfolk Southern (NSC), which fell nearly 6% and was downgraded to Hold from Buy at TD Securities after the railroad operator provided first quarter guidance that came in below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 53.15, or 0.3%, to 18,030.19, the Nasdaq was down 16.19, or 0.32%, to 4,972.06, and the S&P 500 was up 2.20, or 0.11%, to 2,094.63.
11:55 EDTAXSEXOR tops AXIS offer with $130 per share bid for PartnerRe
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