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Stock Market & Financial Investment News

News Breaks
August 30, 2013
16:42 EDTAAMRQ, SPLK, LCC, PSUN, CRM, APA, KKDOn The Fly: Closing Wrap
Stocks on Wall Street were lower as each of the major indexes finished the month with losses, lead by the Dow and S&P, which each lost more than 3% in August. The averages drifted lower for the beginning of the session, turning more volatile after statements regarding Syria were made by both U.S. Secretary of State John Kerry and President Obama, with the indexes closing off their worst levels of the session. ECONOMIC EVENTS: In the U.S., consumer spending rose less than forecast in July as income growth slowed. Personal income in the month rose 0.1%, versus the expected increase of 0.2%, while personal spending rose 0.1%, versus an expected 0.3% increase. The Chicago ISM rose 0.7 points to 53.0 in August, matching the forecast of analysts. The final August reading of the University of Michigan Consumer Sentiment survey was revised up to 82.1, which was higher than the preliminary August estimate of 80.0, but lower than July?s reading of 85.1. COMPANY NEWS: Shares of energy explorer Apache (APA) rose $7.04, or 8.95%, to $85.68 after the company last night announced a deal to sell a 33% stake in its Egyptian business to China's Sinopec for $3.1B in cash. A number of analysts reacted positively to the news, notably RBC Capital, which upgraded the stock to Outperform from Sector Perform... A federal judge set a November 25 trial date in the U.S. Justice Department's challenge to the proposed merger between US Airways (LCC) and American Airlines parent AMR Corp. (AAMRQ). MAJOR MOVERS: Among the notable gainers was cloud software company salesforce.com (CRM), up $5.48, or 12.55%, to $49.13 after beating second quarter estimates and raising its full year 2014 outlook. Also higher following a better-than-expected earnings report was another software company, Splunk (SPLK), which gained $6.29, or 12.86%, to $55.21, as the stock was also upgraded at FBR Capital. Among the noteworthy losers were shares of doughnut maker Krispy Kreme (KKD), down $3.51, or 15.11%, to $19.72 after its earnings and guidance missed expectations. Also lower was teen retailer Pacific Sunwear (PSUN), down 66c, or 16.84%, to $3.26, which reported an in-line second quarter but gave an earnings and revenue outlook for the third quarter that fell short of estimates. INDEXES: The Dow was down 30.64, or 0.21%, to 14,810.31; the S&P 500 was down 5.20, or 0.32%, to 1,632.97; the Nasdaq was down 30.43, or 0.84%, to 3,589.87.
News For APA;LCC;AAMRQ;CRM;SPLK;KKD;PSUN From The Last 14 Days
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July 2, 2015
16:26 EDTSPLKSplunk initiated with an Equal-Weight at First Analysis
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July 1, 2015
10:00 EDTSPLKOn The Fly: Analyst Initiation Summary
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June 30, 2015
17:06 EDTSPLKSplunk initiated with an Outperform at Raymond James
Target $80.
12:59 EDTCRMSalesforce management to meet with UBS
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June 28, 2015
16:00 EDTCRMFormer Salesforce CFO Graham Smith to depart June 30
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12:47 EDTCRMTech sector earnings 'melt away' when accounting for stock comp, Barron's says
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