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Stock Market & Financial Investment News

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April 27, 2012
12:19 EDTMDRX, JAZZ, BAYRY, DECK, WCRX, MXWL, EXPE, MRK, AMZN, CVH, CERN, SBUX, CVX, SIMO, CRAY, F, PGOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, in spite of Spain's ratings being cut by S&P and a U.S. GDP reading that disappointed. Each of the major indices is higher, with the Nasdaq the leader. The averages have moved in a narrow range since the open as market participants digest all the earnings and economic news that was delivered this week. Earnings have come in better than expected, which has led the averages to rebound and stand ready for a positive close for the week. The economic data remains mixed, as housing and labor continue to limp along but consumer confidence is showing an uptick. For now earnings have trumped macro data, leading to a move higher for equities... 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 14% on the heels of upgrades from Goldman, Merrill Lynch, Nomura and Sun Trust on its strong results... The three Dow components reporting earnings, Chevron (CVX), Merck (MRK) and Procter & Gamble (PG), all declined in spite of the fact that each beat consensus earnings expectations. P&G was the Dow's worst performer, sliding 3.5%, after lowering its outlook for next quarter... Among the many other companies reporting earnings, advancers included Expedia (EXPE), Cray (CRAY) and Cerner (CERN); decliners included Maxwell (MXWL), Silicon Motion (SIMO) and Coventry Health (CVH)... MAJOR MOVERS: Among the notable gainers were Jazz Pharmaceuticals (JAZZ), up over 15%, after announcing plans to acquire EUSA Pharma for $650M, and Warner Chilcott (WCRX), up 9%, after the Times of London said that Bayer (BAYRY) may offer $32 per share for the company. Noteworthy losers included Allscripts (MDRX), down 41%, following downgrades by at least eight firms after its earnings and guidance severely missed consensus and the company reported the ouster of its board chairman, three other board members and its CFO, and Deckers Outdoor (DECK), down more than 25%, after lowering its full year sales and profit outlook... INDICES: Near noon, the Dow was up 30.92, or 0.23%, to 13,235.54; the Nasdaq was up 14.12, or 0.46%, to 3,064.73; and the S&P 500 was up 2.31, or 0.17%, to 1,402.29.
News For AMZN;PG;CVX;MRK;F;SBUX;EXPE;CRAY;CERN;MXWL;SIMO;CVH;JAZZ;WCRX;BAYRY;MDRX;DECK From The Last 14 Days
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June 18, 2015
08:04 EDTAMZNGoogle accelerating pace of cloud product innovation, says Baird
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06:22 EDTCVXPetrovietnam says acquires Chevron's Vietnam assets
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June 17, 2015
17:00 EDTMRKOncoSec CEO expects 'to be in a better position to attract a strategic partner'
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16:20 EDTCERNCerner initiated with an Outperform at Oppenheimer
Target $89.
16:19 EDTMDRXAllscripts initiated with a Perform at Oppenheimer
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13:43 EDTAMZNAmazon.com says 30-minute delivery by drone on the horizon, AP reports
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13:05 EDTFJ.D. Power: Japanese auto brands struggle to keep up with pace of improvement
With a significant year-over-year improvement, Korean brands continue to widen the quality gap with other automakers, while Japanese makes collectively fall below industry average for the first time in 29 years, according to the J.D. Power 2015 U.S. Initial Quality StudySM released today. Korean brands lead the industry in initial quality by the widest margin ever, averaging 90 PP100, which is an 11 PP100 improvement from 2014. For the first time in the study, European brands surpass Japanese brands, while domestic makes equal the Japanese for only a second time. Porsche (POAHY) ranks highest in initial quality for a third consecutive year, posting a score of 80 PP100. With a 20 PP100 improvement from 2014, Kia follows Porsche in the rankings at 86 PP100. This marks the first time in the history of the study that Kia has led all non-premium makes in initial quality. Jaguar (TTM), Hyundai (HYMLF) and Infiniti (NSANY) round out the top five nameplates. Infiniti is one of the most improved brands in the study, lowering its problem score by 31 PP100 from 2014. Reference Link
11:02 EDTSBUXStarbucks confirms plans to close all 23 La Boulange retail locations
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10:00 EDTMRKOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AbbVie (ABBV) initiated with an Overweight at Piper Jaffray... Arista Networks (ANET) initiated with a Buy at Sterne Agee CRT... Astec (ASTE) initiated with a Buy at Maxim... Bristol-Myers (BMY) initiated with an Underweight at Piper Jaffray... Community Healthcare (CHCT) initiated with an Outperform at Oppenheimer... Eli Lilly (LLY) initiated with an Overweight at Piper Jaffray... Fitbit (FIT) initiated with a Buy ahead of IPO at Dougherty... Hortonworks (HDP) initiated with a Buy at Mizuho... II-VI (IIVI) initiated with a Buy at Benchmark Co.... J Sainsbury (JSAIY) initiated with an Underperform at Credit Suisse... McDermott (MDR) initiated with an Outperform at Cowen... Merck (MRK) initiated with a Neutral at Piper Jaffray... Molina Healthcare (MOH) initiated with a Buy at UBS... Pacific DataVision (PDVW) initiated with a Buy at Canaccord... Pfizer (PFE) initiated with an Overweight at Piper Jaffray... Quest Resource (QRHC) initiated with a Buy at Roth Capital... Regional Management (RM) initiated with a Buy at Janney Capital... Rofin-Sinar (RSTI) initiated with a Buy at Benchmark Co.... Salesforce (CRM) initiated with a Neutral at Exane BNP Paribas... Sprouts Farmers Markets (SFM) initiated with a Neutral at Cleveland Research... Tesco (TSCDY) initiated with an Underperform at Credit Suisse... WM Morrison (MRWSY) initiated with a Neutral at Credit Suisse... WWE (WWE) initiated with a Buy at BTIG... World Acceptance (WRLD) initiated with a Buy at Janney Capital... Zafgen (ZFGN) initiated with a Buy at SunTrust.
10:00 EDTCVX, MXWLOn The Fly: Analyst Upgrade Summary
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09:16 EDTAMZNAmazon.com introduces new Kindle Paperwhite
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09:08 EDTAMZNFedEx says properly identified delivery people an 'important issue'
FedEx (FDX) executives, responding to a question about "a prominent user of parcel services," likely referring to Amazon.com (AMZN), reportedly exploring its own solutions for delivery, said that "what a lot of people lose in this conversation" is that setting up a transportation network is extremely capital intensive, requires very sophisticated information technology and takes a very long time to build out to scale. FedEx also said that "research has indicated time and time again that a uniformed person with proper identification showing up at your doorstep is an important issue for customers" and that the consistency of customer experience is very critical. FedEx noted that it will continue to monitor these situations, but that it feels "pretty comfortable in terms of our strategy going forward and our ability to serve the e-commerce market and our customers."
08:03 EDTMRKMerck Keytruda granted FDA orphan designation as gastric cancer treatment
The FDA granted Merck, Sharp & Dohme, a subsidiary of Merck, orphan status for Keytruda as a treatment of gastric cancer, including gastroesophageal junction adenocarcinoma. Reference Link
07:24 EDTAMZNHouse Oversight & Government Reform Committee to hold a hearing
The Committee holds a hearing entitled, "Drones: The Next Generation of Commerce?" with Michael Whitaker, Deputy Administrator of the FAA, Brian Wynne, CEO of Association for Unmanned Vehicle Systems International and Paul Misener, Vice President of Amazon on June 17 at 9 am. Webcast Link
06:52 EDTMXWLMaxwell upgraded to Outperform from Market Perform at Northland
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06:39 EDTPGCoty downgraded to Neutral from Buy at Citi
Citi downgraded Coty (COTY) to Neutral after shares rallied on a New York Post report saying the company is in talks to acquire Procter & Gamble's (PG) beauty business for $12B. Citi sees potential challenges with the deal and notes the stock is up 65% since its upgrade in January. The firm raised its price target for shares to $32 from $29.
06:30 EDTAMZNAmazonís Twitch wants to bring in 'nongaming brands,' CNBC reports
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06:14 EDTSBUXStarbucks closing all La Boulange pastry shops, WSJ reports
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05:31 EDTMRKMerck initiated with a Neutral at Piper Jaffray
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05:24 EDTCVXChevron upgraded to Buy from Hold at Societe Generale
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