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February 14, 2013
17:45 EDTWMT, WAG, GE, AIGSoros reports decreased stakes in AIG, General Electric, Walgreen, Wal-Mart
News For AIG;GE;WAG;WMT From The Last 14 Days
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November 17, 2015
06:39 EDTWMTWal-Mart Asia CEO: China to drive over half of sector growth, CNBC says
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06:27 EDTWMTWal-Mart may see worst y/y decline since 1973, WSJ says
Wal-Mart's stock has slumped roughly 40% since reaching over $90 in January, setting the company up for its worst year over year decline since 1973, Steven Russolillo of the Wall Street Journal's Ahead of the Tape reports. There is not much reason to believe that the retailer's shares will rebound ahead of Tuesday's quarterly report, Russolillo says. Deflationary concerns and the growing e-commerce market represent two structural issues hindering Wal-Mart's ability to stage swift turnaround, the report says. Reference Link
05:29 EDTGEGeneral Electric announces new Renewable Energy business
GE introduced its new Renewable Energy business at the European Wind Energy Association's 2015 Annual Event in Paris. The new unit significantly expands GE's wind portfolio in the wake of its recent acquisition of Alstom's power and grid businesses. The new business expands GE's global wind footprint to more than 30,000 turbines worldwide and significantly increases its presence in regions like Europe and Latin America. In Europe alone, GE's installed base will grow by approximately 50% as a result of the deal. In addition, GE Renewable Energy is welcoming a new offshore wind unit into the portfolio. Featuring new Haliade turbine technology, the offshore business has built a significant backlog of orders with EDF in France and has been selected for the Merkur offshore project in Germany. The Haliade technology will also be featured in the historic Block Island project, which is set to become the first offshore wind farm in the United States. Construction is underway, and the project will begin operation next year. Customers can also expect to see service-related benefits resulting from the acquisition. GE Renewable Energy plans to extend its services capabilities across both existing fleets, with an emphasis on using cutting-edge digital and analytics capabilities to help customers improve productivity and increase power output. Earlier this year, GE launched its Digital Wind Farm, which aims to create a digital infrastructure for the wind industry. The Digital Wind Farm harnesses the analytics power of the GE Store and is powered by Predix, the secure software platform for the Industrial Internet.
November 16, 2015
19:45 EDTGEGE turboprop selected by Textron as company promises 'new family' of engines
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18:03 EDTAIGAIG amends by-laws to implement proxy access
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17:16 EDTAIGIcahn liquidated eBay stake, took Paypal stake
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16:23 EDTWMTOn The Fly: Top stock stories for Monday
Stock futures were pointing to a higher open early this morning, showing resiliency in the wake of Friday's terrorist attacks in France and the nation's millitary retaliation against ISIS this weekend. However, the futures weakened following the release of manufacturing data from the N.Y. region, leading to a slightly lower open for the broader market. The averages pared their losses and searched for direction in early trading, but by early afternoon the bulls took control and sent the indexes on an uptrend throughout the afternoon. The major averages each notched gains of more than 1% and recaptured much of what they'd lost on Friday. ECONOMIC EVENTS: In the U.S., the Empire State index, which measures manufacturing in the N.Y. region, edged up to -10.74 in November, up from last month's -11.4, but below expectations for a -6.5 reading. In Asia, Japan's gross domestic product declined 0.8% in the third quarter, missing expectations for a 0.2% decrease and taking the nation's economy back into recession. COMPANY NEWS: Starwood Hotels & Resorts (HOT) found a buyer, but not the one that recent reports had been foreshadowing. Starwood and Marriott (MAR) announced a deal under which the companies will combine in a cash and stock transaction valued at $12.2B to create the world's largest hotel company. Starwood, which had been linked in media reports to a number of other potential buyers in the past, including Hyatt (H) most recently, fell 3.6% to $72.27 following the deal announcement, while Hyatt rose 3.4% and Marriott added 1.35%. MAJOR MOVERS: Among the notable gainers was CONSOL Energy (CNX), which advanced 56c, or 7.57%, to $7.96 after Greenlight Capital's David Einhorn reiterated the stock as his "best idea" at Monday's Robin Hood Investors Conference. Also higher was Wal-Mart (WMT), gaining $1.44, or 2.55%, to $57.87 ahead of its third quarter earnings report Tuesday morning, which comes after largely disappointing reports from other major retailers. Among the noteworthy losers was Clovis Oncology (CLVS), which crashed $69.19, or 69.6%, to $30.24 after new data showed the number of patients testing its cancer drug candidate rociletinib with an unconfirmed response who converted to a confirmed response was lower than expected. The company also noted that the FDA requested additional information related to the treatment's confirmed response rates. Also lower was Dillard's (DDS), which lost $4.97, or 6.41%, to $72.54 after reporting lower than expected Q3 results, the latest in a series of disappointments for the sector. Additionally, SunEdison (SUNE) fell 38c, or 7.61%, to $4.55 after quarterly filings revealed that at least two prominent hedge funds exited or trimmed their stakes in the company. INDEXES: The Dow rose 237.77, or 1.38%, to 17,483.01, the Nasdaq gained 56.73, or 1.15%, to 4,984.62, and the S&P 500 advanced 30.15, or 1.49%, to 2,053.19.
16:00 EDTGEOptions Update; November 16, 2015
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15:02 EDTWMTNotable companies reporting before tomorrow's open
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14:08 EDTWMTWal-Mart technical comments ahead of results
The shares are at multi-year lows and in a downtrend heading into earnings news. If there was a bullish surprise, the first important resistance level would be at the 10-week moving average at $60.58. The 10-week is a good proxy for a downtrend resistance line for the current longer-term bearish price channel. Resistance above the top of the channel would be at $61.23. If the news continues to be negative, the channel low at $55.46 would be a first major test of support. Price at that level would mark a fresh 52-week low. Additional support levels to watch as potential downside objectives would be at $53.55 and then at $51.79.
14:00 EDTWMTWal-Mart November 57 straddle priced for 3.5% movement into Q3
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11:42 EDTWMTWal-Mart volatility increases into Q3 and outlook
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11:35 EDTGEDeutsche Bank adds General Electric to the short-term sell list
Shares of General Electric (GE) are lower after a Deutsche Bank analyst put shares of the company on the firm's short-term sell list. WHAT'S NEW: GE could trade lower in the short term as the Synchrony Financial (SYF) split-off transaction is nearing completion, Deutsche Bank analyst John Inch said in a note to investors this morning. The analyst noted that the firm continues to believe GE "is on the right track strategically." Significant expected share repurchases should provide a buffer for share prices and provide a critical earnings per share catalyst for shares, the analyst maintained. WHAT'S NOTABLE: The analyst, who reiterated a Hold on shares, sees a deteriorating industrial economy, and questions some investors' willingness to look too far into the future to justify their bullish view of GE shares. The firm, which derived a $28 price target on shares, sees potentially rising risks to near-term fundamentals and execution risks to the company's selling off GE Capital's overseas assets. PRICE ACTION: In morning trading, GE declined 0.46% to trade near $30.14 per share as Synchrony Financial fell 1.25% to $30.14.
11:15 EDTWMTEarnings Watch: Analysts largely downbeat on Wal-Mart after annual meeting
Wal-Mart Stores (WMT) is scheduled to report third quarter earnings before the market open on Tuesday, November 17, with a conference call scheduled for 7:00 am ET. Wal-Mart, a member of the Dow Jones Industrial Average, operates retail stores in various formats under 69 different banners in 27 countries with its "everyday low price" philosophy. EXPECTATIONS: Analysts are looking for earnings per share of 98c on revenue of $117.79B, according to First Call. The consensus range for EPS is $1.07-$1.15 on revenue of $114.86B-$119.57B. In its last earnings report, Wal-Mart forecast Q3 EPS of 93c-$1.05 with Q3 U.S. same store sales projected to grow 2%-3%. LAST QUARTER: Wal-Mart reported second quarter EPS of $1.08, missing analysts' estimate of $1.12, on revenue of $120.2B, beating analysts' estimate of $119.72B. The company said currency negatively impacted Q2 EPS by approximately 4c. Comp sales at Walmart U.S. increased 1.5%, driven by traffic of 1.3%, and Neighborhood Market comps increased approximately 7.3%. Global e-commerce sales for Q2 increased about 16%, the company said. Looking ahead, Wal-Mart cut its outlook for fiscal year 2016 EPS to $4.40-$4.70 from $4.70-$5.05 against estimates at that time for $4.77. Chief Financial officer Charles Holley said operating profit would be pressured for the remainder of the year, due to in store associate wages and additional hours, as well as headwinds from pharmacy reimbursements and ongoing shrink. The company said that the impact from investments in wages, training and additional hours in its stores and clubs will be approximately 24c, including approximately 8c in Q3. Additionally, the company said that along with pharmacy headwinds, higher than expected ongoing shrink in Walmart U.S. will impact full year EPS by around 11c, including about 3c in Q3. Further, the FY16 currency exchange rate impact is expected to be approximately 15c, up 2c from last quarter's revised guidance of 13c. NEWS: At its annual meeting on October 14, Wal-Mart forecast net sales growth of approximately 3% for FY16 excluding the impact of currency exchange fluctuations. The company forecast net sales growth of 3%-4% annually over the next three years, which will add about $45B-$60B in sales. Looking to fiscal year 2017, Wal-Mart forecast EPS down 6%-12% vs. FY16. Wal-Mart also said that the strong dollar is expected to reduce the company's FY15 revenue by $15B, Reuters said. Wal-Mart's board authorized a new $20B share repurchase program and said it expects operating income to bottom out in FY17. During the quarter, Reuters reported that Wal-Mart filed an application with the Federal Aviation Administration to test drones for home delivery, curbside pickup and warehouse inventory checks. The Wall Street Journal said Wal-Mart is slimming down its number of items in an attempt to bolster sales figures, yet the reduction has created tensions with suppliers. STREET RESEARCH: Credit Suisse, Stephens and BofA Merrill Lynch all downgraded Wal-Mart after the retailer's annual meeting based on guidance for declining earnings in FY17 and a lack of earnings growth until FY19. Baird, UBS and Jefferies all cut their price targets on Wal-Mart following the annual meeting. JPMorgan analyst Christopher Horvers said the "depth and degree" of the financial pressures addressed at the annual meeting were "much greater than anticipated." Ahead of the Q3 earnings report, Baird reiterated its Outperform rating and $70 price target and said Wal-Mart shares appear to hold some value for patient investors. Wal-Mart was upgraded to Buy from Neutral at Northcoast on November 13. PRICE ACTION: Wal-Mart shares are down over 21% over the last three months, but are up about 1% to $57.07 in late morning trading ahead of Tuesday's earnings report.
09:03 EDTGEGE Healthcare Life Sciences, Emerson announce collaboration
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08:36 EDTWMTWal-Mart holds value for patient long-term investors, says Baird
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07:40 EDTWMTBuffett says lower stakes in Goldman, Wal-Mart doesn't reflect lower confidence
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07:36 EDTWMTBerkshire Hathaway discloses new AT&T stake in quarterly update
Berkshire Hathaway gave a quarterly update on its stakes in a filing this morning. NEW STAKES: AT&T (T), Kraft Heinz (KHC), Liberty Lilac Group (LILA). INCREASED STAKES: Phillips 66 (PSX), Charter (CHTR), Liberty Media (LMCK), Suncor (SU), General Motors (GM). DECREASED STAKES: Goldman Sachs (GS), Wal-Mart (WMT), Deere (DE), Chicago Bridge & Iron (CBI), WABCO (WBC). LIQUIDATED STAKES: Viacom (VIAB).
07:22 EDTGEGeneral Electric shares could drop in near term, says Deutsche Bank
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07:11 EDTGEGeneral Electric added to the short-term sell list at Deutsche Bank
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