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Stock Market & Financial Investment News

News Breaks
April 27, 2012
16:28 EDTMXWL, MDRX, EXPE, CRAY, PG, MRK, CVX, BAC, GS, SBUX, F, AMZNOn The Fly: Closing Wrap
Stock futures traded around fair value for most of the pre-market trading session, with a bit of a swoon following the disappointing Q1 GDP report. The futures gathered themselves before the close of the pre-market trading session which led to a slightly higher open for the broader market. The averages hung near the flat line until the University of Michigan Consumer Confidence reading gave investors a reason to buy. Although the volume was light, the averages achieved gains of roughly 0.5% and then drifted lower for the remainder of the session. ECONOMIC EVENTS: In the U.S., gross domestic product reportedly grew at an annual rate of 2.2% in the first quarter, versus an expected increase of 2.5%. Personal consumption increased 2.9%, versus expectations for an increase of 2.3%. The University of Michigan Consumer Confidence report had a reading of 76.4, versus the expected 75.7. Regarding Europe, S&P cut its credit rating on Spain to BBB+ from A and said its long-term outlook is negative...COMPANY NEWS: Amazon.com (AMZN), Ford (F) and Starbucks (SBUX) all exceeded expectations on the top and bottom lines, but only Amazon was rewarded by investors. Shares of the internet giant advanced more than 15% on the heels of upgrades from Goldman (GS), Merrill Lynch (BAC), Nomura and Sun Trust...The three Dow components reporting earnings, Chevron (CVX), Merck (MRK) and Procter & Gamble (PG), all declined despite each beating consensus earnings expectations. P&G was the Dow's worst performer, sliding 3.9%, after lowering its outlook for next quarter...MAJOR MOVERS: Among the biggest gainers were: Cray (CRAY) which soared 27.9% to $11.38 after forecasting higher than expected Q2 revenue, and Expedia (EXPE) which rallied 23.5% to $40.31 after reporting Q1 EPS that trounced analysts' expectations. The losers included Allscripts Healthcare Solutions (MDRX) which tumbled 35.7% to $10.29 after drastically reducing its FY12 EPS forecast, and Maxwell Technologies (MXWL) which fell 39.2% to $9.60 after issuing a disappointing Q2 sales forecast. INDICES: The Dow rose 23.69 to 13,228.31, the S&P gained 3.38 to 1,403.36, and the Nasdaq added 18.59 to 3,069.20.
News For AMZN;F;SBUX;GS;BAC;CVX;MRK;PG;CRAY;EXPE;MDRX;MXWL From The Last 14 Days
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July 14, 2014
09:36 EDTAMZNActive equity options trading on open
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08:14 EDTFFord should beat Q2 estimates while General Motors will miss, says UBS
UBS believes Ford (F) will beat Q2 estimates while General Motors (GM) will miss due to recall costs. Were it not for the recall charges, UBS thinks GM would post solid underlying results. UBS, which thinks Ford is likely to see a strong second half as product launch costs are already factored into guidance, raised its price target on the stock to $22 from $18. UBS increased its GM price target to $54 from $49. The firm keeps Buy ratings on both stocks.
08:03 EDTGSGoldman Sachs volatility increases into Q2 and outlook
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07:55 EDTFToyota halts production at South African plant, Bloomberg reports
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07:48 EDTGSQuantum computer company D-Wave may come public, FT says
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06:43 EDTFFord ceases production at South African facility, Reuters says
Ford announced that it has temporarily ceased production at one of its South African facilities due to a strike at some of its suppliers, according to Reuters, citing comments from Ford spokeswoman Alicia Chetty. Chetty said that only Ford's Pretoria facility was affected while its other plant in Port Elizabeth was operating as usual. Reference Link
06:08 EDTFABI Research: Over 24M cars to be fitted with Apple CarPlay, DigiTimes says
ABI Research said that over 24M cars will be fitted with Apple (AAPL) CarPlay in 2019, reports DigiTimes. ABI Reserch said that the uptake in MirrorLink will also be fairly significant, but predicts more cars will be fitted with CarPlay. It cites several car makers to have the capabilities, including Ford (F), BMW, Audi, Mercedes, Jaguar/Land Rover, Toyota (TM), Nissan (NSANY), and Volvo (VOLVY). Reference Link
July 11, 2014
16:46 EDTAMZNStocks end week lower on European, Fed concerns
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16:22 EDTAMZNOn The Fly: Closing Wrap
Stocks on Wall Street were higher today, but were still lower for the week, as concerns in Europe have come back to the forefront of investors' minds. Today's modest bounce was not enough to make up for the declines seen in three of the other four sessions earlier in the week. ECONOMIC EVENTS: In the U.S., the June federal budget statement showed a surplus of $70.5B for the month, compared to analysts' forecast for a $79B surplus. COMPANY NEWS: Shares of Wells Fargo (WFC) slipped 32c, or 0.62%, to $51.49 after the largest mortgage lender in the U.S. posted earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard (LO) advanced $2.92, or 4.63%, to $66.01, while Reynolds American fell 51c, or 0.82%, to $61.75, after the two cigarette makers confirmed that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks... In another update to an ongoing M&A story, Japan's Nikkei reported that Sprint's (S) corporate parent, Softbank (SFTBF), has reached an agreement to acquire T-Mobile (TMUS) from Deutsche Telecom (DTEGY), clearing the way for the long-speculated merger between the third and fourth largest wireless carriers in the U.S. Following the new story, Sprint shares finished the day up 30c, or 3.64%, to $8.55, while T-Mobile rose 62c, or 1.89%, to $33.50. MAJOR MOVERS: Among the notable gainers was Ruckus Wireless (RKUS), which advanced 87c, or 7.9%, to $11.88 after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Also higher was Amazon.com (AMZN), which climbed $18.28, or 5.57%, to $346.20 after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Among the noteworthy losers was Rent-A-Center (RCII), which dropped $3.18, or 10.94%, to $25.88 after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower were shares of industrial and construction supply retailer Fastenal (FAST), which fell $2.00, or 4.16%, to $46.15 after its Q2 revenue missed analysts' consensus view and the company reported plans to close 45 stores. INDEXES: The Dow was up 28.74, or 0.17%, to 16,943.81, the Nasdaq was up 19.29, or 0.44%, to 4,415.49, and the S&P 500 was up 2.83, or 0.14%, to 1,967.51.
15:59 EDTAMZNOptions Update; July 11, 2014
iPath S&P 500 VIX Short-Term Futures down 33c to 28.25. Option volume leaders: AAPL C GILD X FB GOOG AMZN TWTR TSLA according to Track Data.
12:36 EDTAMZNOn The Fly: Midday Wrap
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10:45 EDTAMZNAmazon climbs after ChannelAdvisor says sales growth accelerated
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10:00 EDTPGOn The Fly: Analyst Downgrade Summary
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09:59 EDTAMZNAmazon.com rises sharply in early trading, levels to watch
The shares are broadly outperforming this morning, trading up 3.9% to $340.88. At that price, next resistance is at $343.41 and then at $346.76. Support is at $336.37.
09:37 EDTAMZNActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
08:50 EDTFNHTSA probes 500K Ford vehicles for steering issue, Detroit News says
The National Highway Traffic Safety Administration opened a preliminary probe into 500K older Ford vehicles for steering issues, according to the Detroit News, citing comments from the NHTSA. Ford spokeswoman Kelli Felker said the car manufacturer will cooperate with the NHTSA. Reference Link
07:20 EDTGS, BACBig 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
06:23 EDTAMZNChannelAdvisor reports Amazon June SSS up 34.4%, eBay up 12.3%
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06:10 EDTAMZNJPMorgan expects solid Q2 results in Internet space
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05:44 EDTPGProcter & Gamble downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded its rating on Procter & Gamble (PG) shares to Market Perform citing a lack of lack of fundamental progress despite the company's increased innovation. Wells says P&G's U.S. share trends have weakened amid competition. The firm cut its price target range for shares to $85-$87 from $88-$90.
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