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Stock Market & Financial Investment News

News Breaks
January 17, 2014
07:30 EDTAXP, MS, GE, INTCFutures slightly above fair value
U.S. equity futures are pointing to a slightly higher open as investors digest earnings reports from some of the country’s largest financial corporations. American Express (AXP), General Electric (GE) and Morgan Stanley (MS),reported fourth quarter results, along with tech giant Intel (INTC). Investors will also be watching the day’s economic releases which include data on housing starts, building permits, industrial production and capacity utilization, along with the University of Michigan's consumer confidence index.
News For AXP;GE;MS;INTC From The Last 14 Days
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November 17, 2015
09:44 EDTMSBrookings Institute to hold a discussion
The Hutchins Center on Fiscal and Monetary Policy at Brookings and Ben Bernanke host a discussion with Betsy Graseck of Morgan Stanley, Governor Tarullo of the Federal Reserve on the role of collateral in the financial system, liquidity in bond markets and the shadow banking system in a meeting being held in Washington, D.C. on November 17 at 1:30 pm. Webcast Link
09:35 EDTGEActive equity options trading on open: AAPL FB GE HD
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09:27 EDTGESynchrony announces completion of separation from General Electric
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07:48 EDTINTCHP Enterprise announces alliance with Intel
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07:48 EDTMSBofa/Merrill to hold a conference
Banking & Financial Services Conference 2015 is being held in New York on November 17-18.
07:01 EDTAXPGlobal Payments to offer Apple Pay support in Canada
Global Payments (GPN) said it will offer its merchants in Canada the ability to accept American Express (AXP) payments made with Apple (AAPL) Pay. As an Apple Pay-qualified payment provider, Global Payments' robust suite of payments solutions is fully enabled for Apple Pay acceptance, allowing merchants to offer their customers the convenience of Apple Pay acceptance in-store, in-app and on-the-go.
06:41 EDTGEGE's offer to exchange Synchrony's shares was oversubscribed by 3.2 times
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06:27 EDTINTCIntel November volatility elevated into investor meeting
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05:29 EDTGEGeneral Electric announces new Renewable Energy business
GE introduced its new Renewable Energy business at the European Wind Energy Association's 2015 Annual Event in Paris. The new unit significantly expands GE's wind portfolio in the wake of its recent acquisition of Alstom's power and grid businesses. The new business expands GE's global wind footprint to more than 30,000 turbines worldwide and significantly increases its presence in regions like Europe and Latin America. In Europe alone, GE's installed base will grow by approximately 50% as a result of the deal. In addition, GE Renewable Energy is welcoming a new offshore wind unit into the portfolio. Featuring new Haliade turbine technology, the offshore business has built a significant backlog of orders with EDF in France and has been selected for the Merkur offshore project in Germany. The Haliade technology will also be featured in the historic Block Island project, which is set to become the first offshore wind farm in the United States. Construction is underway, and the project will begin operation next year. Customers can also expect to see service-related benefits resulting from the acquisition. GE Renewable Energy plans to extend its services capabilities across both existing fleets, with an emphasis on using cutting-edge digital and analytics capabilities to help customers improve productivity and increase power output. Earlier this year, GE launched its Digital Wind Farm, which aims to create a digital infrastructure for the wind industry. The Digital Wind Farm harnesses the analytics power of the GE Store and is powered by Predix, the secure software platform for the Industrial Internet.
November 16, 2015
19:45 EDTGEGE turboprop selected by Textron as company promises 'new family' of engines
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16:00 EDTGEOptions Update; November 16, 2015
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12:04 EDTAXPAmerican Express reports October net write-offs 1.3% vs. 1.2% last month
Reports October 30 days past due loans 1.0% vs. 1.0% last month.
11:35 EDTGEDeutsche Bank adds General Electric to the short-term sell list
Shares of General Electric (GE) are lower after a Deutsche Bank analyst put shares of the company on the firm's short-term sell list. WHAT'S NEW: GE could trade lower in the short term as the Synchrony Financial (SYF) split-off transaction is nearing completion, Deutsche Bank analyst John Inch said in a note to investors this morning. The analyst noted that the firm continues to believe GE "is on the right track strategically." Significant expected share repurchases should provide a buffer for share prices and provide a critical earnings per share catalyst for shares, the analyst maintained. WHAT'S NOTABLE: The analyst, who reiterated a Hold on shares, sees a deteriorating industrial economy, and questions some investors' willingness to look too far into the future to justify their bullish view of GE shares. The firm, which derived a $28 price target on shares, sees potentially rising risks to near-term fundamentals and execution risks to the company's selling off GE Capital's overseas assets. PRICE ACTION: In morning trading, GE declined 0.46% to trade near $30.14 per share as Synchrony Financial fell 1.25% to $30.14.
11:31 EDTAXPMarriott announces plans to buy Starwood in $12.2B cash and stock deal
Shares of Marriott International (MAR) and Starwood Hotels & Resorts (HOT) fell after the two companies announced that Marriott will acquire Starwood in a cash and stock deal valued at $12.2B. WHAT'S NEW: Under the terms of the agreement, Starwood shareholders will receive 0.92 shares of Marriott Class A common stock and $2 in cash for each share of Starwood stock. When the deal closes, Starwood stakeholders will own roughly 37% of the combined entity's stock, the companies said. Marriott expects the deal to be earnings accretive by the second year after the merger, excluding the impact of transaction and transition costs. Marriott president and chief executive officer Arne Sorenson will remain in both positions following the merger. The transaction, which has been approved unanimously by the boards of both companies, is expected to close in mid-2016. In a statement announcing the deal, Marriott said it remains committed to its management and franchise strategy. Additionally, Marriott said it expects to deliver at least $200M in annual cost savings in the second full year after closing. Marriott expects to return at least $2.25B in dividends and share repurchases to investors, and believes it can reutrn "at least as much" in the first year following the closing. WHAT'S NOTABLE: On a conference call discussing the deal, Sorenson said that Starwood brands will "remain in place" and that he is focused on increasing appeal to younger travelers. Sorenson also said that the agreement includes a $400M break-up fee. Marriott chief financial officer Carl Berquist added that Starwood will continue its asset sale program. Starwood Chairman Bruce Duncan said that "all possible options" were considered and the company spoke to a "wide range" of interested parties. OTHER BIDDERS: On November 2, CNBC's David Faber reported that Starwood and rival Hyatt (H) were still in talks over a potential merger deal and that deal was about "a week away." In addition, The Wall Street Journal reported on October 27 that Shanghai Jin Jiang International Hotels, HNA Group and China Investment Corporation were vying for government clearance to submit an offer to acquire Starwood. On July 30, media reports emerged that Starwood had reached out to possible suitors about a buyout, including InterContinental (IHG), Wyndham Worldwide (WYN), and several sovereign wealth funds. Intercontinental denied it was involved in any such discussions with Starwood the day the story was reported. STREET RESEARCH: In response to the acquisition news, RBC Capital Markets analyst Wes Golladay said that Marriott may look to convert some of Starwood's hotels, likely older Sheratons, to its new Delta brand. PRICE ACTION: In morning trading, Marriott declined 0.14% to $72.64 and Starwood fell 6.25% to $70.24. OTHERS TO WATCH: Hyatt rallied 3.4%, InterContinental was down 1.77% and Wyndham Worldwide lost 2.07% following the deal announcement. American Express (AXP), which announced new benefits to the Starwood Preferred Guest credit card in early June, slipped 0.62% in morning trading.
09:37 EDTINTCActive equity options trading on open
Active equity options trading on open: AAPL FB ORCL BAC SUNE FDX FCX EXPE NFLX MU AMZN INTC TSLA
09:03 EDTGEGE Healthcare Life Sciences, Emerson announce collaboration
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08:58 EDTAXPAmerican Express slips following Marriott, Starwood deal announcement
Shares of American Express (AXP) are slipping in pre-market trading following the news that Marriott (MAR) and Starwood Hotels & Resorts (HOT) have agreed to merge. In early June, American Express and Starwood announced new benefits to the Starwood Preferred Guest credit card. Marriott, however, has its co-brand program with JPMorgan Chase (JPM) and the early weakness in American Express shares could reflect concern over a potential change in the merged hotels' co-brand relationships. In pre-market trading, AxEx shares are down about 0.5% to $70.88.
07:22 EDTGEGeneral Electric shares could drop in near term, says Deutsche Bank
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07:11 EDTGEGeneral Electric added to the short-term sell list at Deutsche Bank
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November 15, 2015
18:43 EDTGESumitomo, Shinsei emerge as final bidders for GE's Japan lease unit, WSJ says
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