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Stock Market & Financial Investment News

News Breaks
February 7, 2013
07:46 EDTSAIA, FDX, LUV, CGI, XPO, KSU, ATSGDahlman Rose to host a conference
Global Transportation Confab Conference is being held in Boston on February 7.
News For ATSG;CGI;FDX;KSU;LUV;SAIA;XPO From The Last 14 Days
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July 1, 2015
17:05 EDTLUVJetBlue not contacted by Justice Department, Bloomberg says
JetBlue (JBLU) said it has not been contacted by the U.S. Justice Department regarding potential collusion within the industry, Bloomberg reports, citing emailed statements. On the other hand, American Airlines (AAL), Southwest (LUV), and United (UAL) have all confirmed receiving letters from the Department, noting that the information request covers the past two years.
16:28 EDTLUVOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street opened higher amid hopes for a resolution to the Greek debt crisis. The market also received help from positive reports from the ISM on manufacturing and ADP on the labor market. The averages saw their highs shortly after the open and then gradually drifted off those highs, while moving in a fairly narrow range. Investors will now be looking to the release of tomorrow’s nonfarm payrolls report, which will be out a day earlier than normal due to the Independence Day holiday. ECONOMIC EVENTS: In the U.S., ADP reported the private sector added 237,000 jobs in June, versus expectations for 218,000 job additions. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly above the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. In China, manufacturing PMIs came in short of expectations. The HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6, while the government's official manufacturing PMI fell to 50.1 in June from 50.9 in May. In Europe, Greece officially missed its $1.7B payment to the International Monetary Fund last night. Reports then indicated that Greece's government was willing to make concessions that get it much closer to creditor demands. The new proposal for budget cuts and policy overhauls from Prime Minister Alexis Tsipras was dismissed by European officials, however, and Eurogroup president Jeroen Dijsselbloem said that he sees no need for further talks on Greece at this point and that he awaits the result of this Sunday's scheduled referendum. COMPANY NEWS: In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a cash and stock transaction valued in excess of $28B that will create the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. ACE shares advanced 77c, or 0.76%, to $102.45 following the deal announcement, while Chubb surged $25.63, or 26.94%, to $120.77... U.S. airline stocks dropped after the Associated Press reported that the Justice Department is investigating potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high. Shares of American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV), United Continental (UAL) and JetBlue (JBLU) all closed lower by between 1.4% to 3.4% following the report. MAJOR MOVERS: Among the notable gainers was Schnitzer Steel (SCHN), which advanced 13.45% to $19.82 after BofA Merrill Lynch upgraded the shares two notches to Buy from Underperform and raised its price target to $21, saying scrap pricing should be nearing a trough with stability expected ahead. Also higher were shares of Dycom (DY), which gained 7.87% to $63.48 following a fourth quarter guidance hike, an announcement of a $40M repurchase plan and an upgrade to Buy at DA Davidson. Among the noteworthy losers was Baxter (BAX), which fell 44.43% to $38.86 after its spin-off of Baxalta (BXLT), whose shares fell 1.38% to $31.50. Baxter was downgraded to Neutral from Outperform at Credit Suisse after the research firm updated its valuation of Baxter to reflect the split. Also lower was Graham Holdings (GHC), which fell 35.48% to $693.63 after the company completed its spin-off of Cable ONE (CABO), whose shares lost 6.23% to $399. Additionally, shares of General Motors (GM) fell 0.87% to $33.04 after the company halted production at its Russian plant and reported June U.S. sales dropped 3%. INDEXES: The Dow rose 138.40, or 0.79%, to 17,757.91, the Nasdaq gained 26.26, or 0.53%, to 5,013.12, and the S&P 500 advanced 14.31, or 0.69%, to 2,077.42.
15:17 EDTLUVSouthwest options active, Justice Department said to probe possible collusion
Southwest Airlines July weekly 31 and 32 puts are active on total put volume of 5K contracts (5K calls) after Justice Department said to probe possible collusion. July weekly call option implied volatility is at 64, July is at 40, August is at 36; compared to its 52-week range of 23 to 53. Active option volume suggests traders taking positions for large near term price movement.
14:28 EDTLUVAirlines fall after Justice Department said to probe possible collusion
Major U.S. airline stocks are dropping precipitously in intraday trading following a report of a Justice Department investigation into potential "unlawful coordination" between companies attempting to artificially limit growth to keep fares high. WHAT'S NEW: The Associated Press has obtained a document showing that the U.S. Justice Department is investigating whether major airlines might be colluding to slow their growth in order to maintain high airfares. A spokesperson for the Department confirmed that it is probing airlines over possible "unlawful coordination," though she did not name specific companies in the sector. WHAT'S NOTABLE: Today's report of possible collusion within the industry follows a period of volatility among airline stocks in late May and early June on concerns over undisciplined capacity growth and price competition. Following some recovery in the stocks, a Barron's cover story on June 20 predicated a potential 15%-50% upside in airlines and specifically cited high fares. PRICE ACTION: Shares of American Airlines (AAL), Delta Air Lines (DAL), Southwest (LUV), United Continental (UAL) and JetBlue (JBLU) are all down over 4.5% in afternoon trading and continue to drop.
13:57 EDTLUVDOJ investigating whether airlines colluding on fares, AP reports
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10:00 EDTLUVOn The Fly: Analyst Upgrade Summary
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07:59 EDTLUVSouthwest upgraded to Buy from Neutral at Buckingham
Buckingham upgraded Southwest (LUV) to Buy and lowered its price target to $43 from $45. The firm believes Southwest will reach a deal with pilots by year-end following Delta's (DAL) recent deal. The firm recommends using weakness to add to positions and notes consensus estimates have been reset.
June 30, 2015
08:09 EDTKSURail estimates need to come down further, says Citi
Citi analyst Christian Wetherbee noted that consensus estimates in the rail sector for Q2 EPS have fallen an average of 8% since the firm moved below consensus last month, but believes the numbers have to come down further. Wetherbee cut his Q2 estimates by another 5%, lowered Q3 by 4% and cut his forecast for 2016 EPS by 3% and lowered price targets on stocks in the space by 6% on average. Wetherbee added that he believes Union Pacific (UNP) and Norfolk Southern (NSC) have the highest the pre-announcement risk in the group and lowered his targets on those stocks, as well as for Canadian National (CNI), Canadian Pacific (CP), CSX (CSC) and Kansas City Southern (KSU).
08:08 EDTXPOXPO Logistics coverage resumed with an Overweight at Morgan Stanley
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June 26, 2015
18:40 EDTFDXFedEx solicits EU approval for TNT bid, Reuters reports
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17:53 EDTXPOXPO Logistics says ND is subject of ongoing investigation by French regulators
XPO Logistics said in a regulatory filing that ND or Norbert Dentressangle is subject to an ongoing investigation by the French Competition Authority. On June 8, XPO Logistics announced that it has consummated the previously announced agreement to purchase all of the shares of Norbert Dentressangle held by Mr. Norbert Dentressangle and his family, representing 67% of the company's outstanding shares, at a price of 217.50 euros per share. XPO continued in a filing: "In July 2014, ND Distribution received notification from the French antitrust authorities relating to alleged anti-competitive practices of companies in the parcel express delivery business. Most French companies participating in this market also received complaints covering several prior years. The investigation focuses on the role played by an industry syndicate, in which the participants are said to have exploited the syndicate’s “Pooling Business Advisory” meetings so as to align their sales practices and, in particular, prices. The French antitrust authorities are reviewing the period from June 2007 to March 2008, which straddles the period during which ND completed its indirect takeover of ND Distribution. ND expects that a hearing may be held late in 2015 or early in 2016. Additionally, ND is involved in certain proceedings in the Valence Criminal Court regarding a two-year preliminary enquiry into the way ND organizes international transport sub-contracting operations. No provision has been made in ND’s financial statements regarding either investigation, and while ND disputes the claims against it, any adverse findings or decisions arising out of such investigation could have a material adverse impact on ND’s business and financial condition. "
June 25, 2015
11:31 EDTLUVAvis Budget and Southwest sign multi-year partnership marketing agreement
Avis Budget (CAR) announced that it has entered into an expanded, new multi-year partnership marketing agreement with Southwest Airlines (LUV) which will enable the company to promote Avis Car Rental, Budget Car Rental and Payless Car Rental offers, products and services to Southwest customers. As part of the new agreement, Avis, Budget and Payless will have advertising placement on the Southwest Airlines website as well as merchandising placement throughout the airline reservation process. The car rental brands will also be featured on airline confirmation pages and pre-trip emails to customers.
07:00 EDTLUVDelta granted temporary space at Dallas airport by Southwest, Reuters reports
While Southwest Airlines (LUV) and Delta Air Lines (DAL) await a resolution of their dispute in court, Southwest is allowing Delta to continue operating five daily flights between Dallas Love Field Airport and Atlanta, reported Reuters, citing a Delta spokeswoman. A gate-sharing pact between the two is set to expire on July 6, the report noted. Reference Link
June 23, 2015
07:12 EDTLUVSouthwest coverage assumed with an Underweight at Morgan Stanley
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June 22, 2015
10:14 EDTKSUKansas City Southern could yield synergies for Canadian National, says Cowen
Cowen said Canadian National (CNI) has been increasing its presence and service offerings in the U.S. Gulf coast and a merger with Kansas City Southern (KSU) could increase competitiveness and result in substantial revenue synergies. The firm said Kansas City Southern trades at a 25% premium to the rail group and any merger would involve a great amount of political risk and has no reason to believe the company is contemplating such a move.
07:39 EDTFDXFedEx management to meet with Deutsche Bank
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07:19 EDTLUVAirlines focusing on upgraded in-flight web services, WSJ reports
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June 21, 2015
13:03 EDTLUVU.S. airline stocks may rise 15%-50% in one year, Barron's says
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