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Stock Market & Financial Investment News

News Breaks
November 15, 2012
11:31 EDTCHA, TWC, HAL, PRU, BHI, ESRX, ANFOn The Fly: Analysts Upgrade Summary
Today's noteworthy upgrades include: Abercrombie & Fitch (ANF) upgraded to Buy from Neutral at Sterne Agee and to Neutral from Underperform at Credit Suisse...Prudential (PRU) upgraded to Top Pick from Outperform at RBC Capital...Time Warner Cable (TWC) upgraded to Overweight from Neutral at JPMorgan...Express Scripts (ESRX) upgraded to Buy from Neutral at Citigroup...Halliburton (HAL) upgraded to Buy from Underperform at CLSA...China Telecom (CHA) upgraded to Outperform from Neutral at Credit Suisse...Baker Hughes (BHI) upgraded to Buy from Outperform at CLSA.
News For ANF;PRU;TWC;ESRX;HAL;CHA;BHI From The Last 14 Days
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January 20, 2015
08:30 EDTBHIBaker Hughes to cut 7K jobs in Q1 amid low oil prices
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07:39 EDTBHIBaker Hughes sees FY15 interest expense approx. $240M
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07:04 EDTHALHalliburton says took $129M restructuring charge in Q4
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07:02 EDTHAL, BHIHalliburton reports Q4 C&P revenue $5.5B, D&E revenue $3.3B
During the fourth quarter of 2014, Halliburton (HAL) incurred $19M for costs related to the pending Baker Hughes (BHI) acquisition.
07:01 EDTHALHalliburton reports Q4 EPS $1.19 ex-items, consensus $1.10
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06:44 EDTESRXExpress Scripts downgraded to Neutral from Buy at UBS
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06:01 EDTBHIBaker Hughes reports Q4 adj. EPS $1.44, consensus $1.07
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January 18, 2015
14:22 EDTBHISchlumberger boss says oil price to challenge land producers, WSJ says
Paal Kibsgaard, CEO of Schlumberger, said U.S. energy producers are not done with work force reductions and that because of high costs, producers that focus on shale fields are worse off than rivals, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), Total (TOT), Schlumberger (SLB) and Baker Hughes (BHI). Reference Link
January 16, 2015
17:30 EDTBHIValue Act reports 5.1% stake in Baker Hughes
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13:03 EDTBHIBaker Hughes reports U.S. rig count down 74 to 1676
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12:30 EDTHALHalliburton volatility elevated into Q4 and outlook
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12:00 EDTHALHalliburton technical comments ahead of results
The shares have been beaten down along with declining crude prices, but have begun a process of basing since early December of last year. That base is defined by lows at the $37.50 area and highs at the $41 area. If the shares can break above the $41 level on news that is more bullish than currently expected, it could begin a recovery process in the stock. Resistance levels to watch in that event would be at $42.20 and then at $44.37. If the shares were to break below the low of the base at the $37.50 area, notably taking out the 52-week low at $37.21, then there would be a resumption of the longer-term downtrend. Support levels to watch in that case would be at $36.40, $35.32, and $33.07.
10:24 EDTBHI, HALOptions point to oil falling to near $30 per barrel, Merrill Lynch says
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January 15, 2015
08:55 EDTHALHalliburton volatility elevated into Q4 and outlook
Halliburton January weekly call option implied volatility is at 47, February is at 43, March is at 40; compared to its 26-week average of 35 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on January 20.
January 13, 2015
16:24 EDTPRUOn The Fly: Closing Wrap
The Wall Street averages spent time in both positive and negative territory during the session, before closing a bit below where they'd started the day. The market opened sharply higher after Alcoa’s (AA) better than expected report gave some optimism about the upcoming earnings season. The early move higher came despite oil continuing its slide. The major averages saw their highs shortly after the open and then began to drift slowly lower. By mid-afternoon the market was in the red, though the equity averages eventually made it briefly back into positive ground, but failed to hold those narrow gains into the close. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index for December came in at 100.4, which was stronger than the expected 98.5 reading. The JOLTS report showed job openings increased 142K to 4.972M in November, beating the 4.85M consensus forecast. Treasury posted a $1.9B surplus in December, which was a bit below the expected surplus of $3B. Also of note is the fact that the U.S. and European benchmarks of WTI and Brent crude were at parity for the first time since 2013 during the session, with both trading near $46 per barrel for a time. COMPANY NEWS: KB Home (KBH) reported better than expected revenue and higher orders in its fourth quarter, but the stock declined $2.70, or 16.29%, to $13.87 after CEO Jeffrey Mezger warned on the associated earnings call that margins could drop "significantly" in its current quarter from the levels seen last year. KB's margin outlook, which it blamed on rising costs, heavier use of incentives and a sequential decline in average selling prices, dragged down peers in the housing space as well. D.R. Horton (DHI), the biggest homebuilder by market cap, finished the day down $1.26, or 4.83%, to $24.82, while PulteGroup (PHM) also slid $56c, or 2.47%, to $22.13... MetLife (MET) said it will sue to oppose the U.S. Financial Stability Oversight Council’s designation of the insurer as a SIFI, or "systemically important financial institution." The life insurer called the label premature and said it has offered “substantial and compelling evidence” that it isn’t a SIFI. Wells Fargo said it thinks it is appropriate for MetLife to challenge the ruling, though the firm does not presently see a Dodd-Frank provision that enables an entity to shed its designation. Wells added that a MetLife victory would have no impact on either AIG (AIG) or Prudential (PRU), which did not challenge their SIFI designations before their windows closed. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which rose $1.21, or 20.86%, to $7.01 after the company issued better than expected guidance on its second quarter results. Also higher was McGraw Hill Financial (MHFI), which jumped $5.13, or 5.98%, to $90.89 after reports said the company's Standard & Poor’s rating unit was in talks about a potential $1B settlement to its fight with the Justice Department and state attorneys general over allegations of inflating credit ratings on mortgage investments preceding the financial crisis. Among the noteworthy losers was ChannelAdvisor (ECOM), which plunged $11.32, or 53.52%, to $9.83 after its fourth quarter revenue warning prompted no less than eight downgrades of the stock by Street analysts. Also lower were shares of Ocwen Financial (OCN), which dropped $4.41, or 36.18%, to $7.78 after the Los Angeles Times reported that California is seeking to suspend the company's mortgage license in the state. Altisource Portfolio Solutions (ASPS), which is a related company to Ocwen, also declined $10.45, or 38.79%, to $16.49. Shares of GoPro (GPRO) fell $6.91, or 12.17%, to $49.87 after the Patently Apple blog reported that Apple (AAPL) was granted a patent for a camera system that specifically mentions the weaknesses of GoPro devices. INDEXES: The Dow fell 27.16, or 0.15%, to 17,613.68, the Nasdaq lost 3.21, or 0.07%, to 4,661.50, and the S&P 500 dropped 5.23, or 0.26%, to 2,023.03.
12:17 EDTESRXExpress Scripts CEO says new cholesterol lowering drugs 'pretty expensive'
12:15 EDTESRXExpress Scripts CEO says Gilead relationship 'important' going forward
Express Scripts (ESRX) CEO George Paz at the J.P. Morgan Healthcare Conference said his company's relationship with Gilead (GILD) is "important" going forward. Paz said his company's goal is not to exclude drugs. He continues to discuss Express Scripts's deal with AbbVie (ABBV) and the company's goal of saving clients money with regards to healthcare costs.
12:10 EDTESRXExpress Scripts CEO says 'never stopped talking to Gilead'
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10:46 EDTPRUMetLife has only upside in challenging SIFI designation, says Wells Fargo
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07:13 EDTPRUMetLife CEO could decide soon whether to file suit against U.S., WSJ reports
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