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Stock Market & Financial Investment News

News Breaks
January 16, 2013
16:31 EDTHPQ, AAPL, CROX, GS, BA, GNW, JPM, GDOTOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, with a strong performance from Nasdaq bellwether Apple (AAPL) leading the average to the days biggest gains, while Boeing (BA) shares weighed on the Dow. JPMorgan (JPM) and Goldman Sachs (GS) began this week's torrent of earnings from the financial sector, with Bank of America (BAC) and Citigroup (C) slated to report tomorrow morning and Morgan Stanley (MS) continuing the march on Friday... ECONOMIC EVENTS: In the U.S., MBA's mortgage applications composite index rose 15.2% for the week. The Consumer Price Index for December was flat, as expected. Industrial production increased 0.3% in December, versus expectations for a rise of 0.2%. That boosted capacity utilization to 78.8% from an upwardly revised 78.7% figure for the prior month. The NAHB's Housing Market Index came in at 47, versus the expected reading of 48. Crude oil inventories drew down by more than expected in the DOE's weekly update. Also, the World Bank lowered it forecast for global GDP growth in 2013 to 2.4% from its prior call for 3% growth... COMPANY NEWS: Boeing shares lost $2.60, or 3.38%, to $74.34 after two Japanese airlines grounded their fleet of 787s. This move was prompted by yesterday's emergency landing of a 787 Dreamliner operated by Japan's All Nippon Airways, which was the latest in a recent string of problems with the new plane... Hewlett-Packard (HPQ) gained 68c, or 4.11%, to $17.21 following afternoon Dow Jones headlines that said the company has received interest for its Autonomy and EDS units. After the report, both CNBC's David Faber and AllThingsD said HP has no plans to sell Autonomy or any other core assets... Before the market opened this morning, financial giants JPMorgan and Goldman Sachs reported earnings, with both banks beating the Street's EPS estimates. JPMorgan also released a report outlining the problems behind last year's "London Whale" losses in its CIO unit and CEO Jamie Dimon's compensation was cut by over 50% by the board. Shares of JPMorgan opened lower, but finished the session up 47c, or 1.01%, to $46.82. Shares of Goldman Sachs added $5.50, or 4.06%, to $141.09 on the day... MAJOR MOVERS: Among the notable gainers was Apple, which rose $20.17, or 4.15%, to $506.09 despite Pacific Crest downgrading the stock to Sector Perform and Bank of America Merrill Lynch lowering its price target on shares. Also higher were shares of Genworth Financial (GNW), up 72c, or 8.86%, to $8.85 after announcing changes to its mortgage insurance unit. Among the noteworthy losers was Crocs (CROX), down $1.52, or 9.68%, to $14.19 after saying it expects quarterly revenue to be in-line with its previous guidance but calling the holiday season environment "difficult." Also lower were shares of Green Dot (GDOT), which fell $1.16, or 8.08%, to $13.20 after announcing a mobile bank account service called GoBank while shares were downgraded to Reduce with a $10 price target at SunTrust... INDICES: The Dow was down 23.66, or 0.17%, to 13,511.23; the Nasdaq was up 6.76, or 0.22%, to 3,117.54; and the S&P 500 was up 0.29, or 0.02%, to 1,472.63.
News For BA;AAPL;JPM;GS;HPQ;GNW;CROX;GDOT From The Last 14 Days
Check below for free stories on BA;AAPL;JPM;GS;HPQ;GNW;CROX;GDOT the last two weeks.
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April 10, 2014
10:00 EDTCROX, AAPL, HPQOn The Fly: Analyst Initiation Summary
Apple (AAPL) initiated with a Buy at Deutsche Bank... Crocs (CROX) initiated with a Buy at Buckingham... Deckers Outdoor (DECK) initiated with a Buy at Buckingham... EMC (EMC) initiated with a Buy at Deutsche Bank... HP (HPQ) initiated with a Buy at Deutsche Bank... IBM (IBM) initiated with a Hold at Deutsche Bank... NeoPhotonics (NPTN) coverage resumed with a Market Perform at Raymond James... NetApp (NTAP) initiated with a Hold at Deutsche Bank... Nutrisystem (NTRI) initiated with a Buy at B. Riley... Questar (STR) initiated with an Underperform at BofA/Merrill... S&T Bancorp (STBA) initiated with an Outperform at Raymond James... STB Systems Inc (STBI) initiated with an Outperform at Raymond James... Skechers (SKX) initiated with an Underperform at Buckingham... Steven Madden (SHOO) initiated with a Buy at Buckingham... UGI Corporation (UGI) initiated with a Buy at BofA/Merrill... Web.com (WWWW) initiated with a Neutral at Buckingham... Ally Financial (ALLY) initiated with a Buy at BTIG... Visteon (VC) initiated with a Buy at Citigroup... Greatbatch (GB) initiated with a Buy at KeyBanc... Steris (STE) initiated with a Buy at KeyBanc... Cooper Companies (COO) initiated with a Hold at KeyBanc... Hill-Rom (HRC) initiated with a Hold at KeyBanc... Invacare (IVC) initiated with a Hold at KeyBanc... Teleflex (TFX) initiated with a Hold at KeyBanc... Provident Financial (PROV) initiated with a Market Perform at Keefe Bruyette... UMH Properties (UMH) initiated with a Hold at Wunderlich.
09:56 EDTHPQHP rallies after Gartner/IDC PC shipment data, levels to watch
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09:37 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: SIRI RAD AAPL AMZN AA FB TSLA MRK CVX C
09:21 EDTHPQOn The Fly: Pre-market Movers
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08:37 EDTJPMDimon admits JPMorgan had 'tin ear' when listening to regulators, Reuters says
JPMorgan CEO Jamie Dimon said the company had a “tin ear” when dealing with regulators before settling investigations into mortgage lapses and trading losses, according to Reuters, citing comments from Dimon in a letter to the bank's investors. Dimon said, "Our response generally was, ‘We know what we’re doing.' Well, we should have done more self-examination. We need to be better listeners.” Reference Link
08:22 EDTAAPLApple seen offering iWatches priced as high as 'thousands,' AppleInsider says
KGI analyst Ming-Chi Kuo, who has a proven track record of predicting about Apple hardware, predicts that one of the major differences between Apple's smartwatch and those from rivals will be that its casing and band will come in a variety of materials and that luxury iWatches will carry a price tag of "several thousand dollars," reported AppleInsider. Other features expected by Kuo for the device, including biometrics, a flexible AMOLED display with sapphire cover lens and NFC, the report added. Reference Link
08:15 EDTGSGoldman COO says company committed to Brazil operations, Reuters says
Goldman Sachs COO Gary Cohn asserted that the company is committed to retaining its investment-banking operations in Brazil as part of its world-wide footprint, according to Reuters, citing comments from Cohn. Reference Link
08:01 EDTHPQPC market decline 'much less' than feared, says Citigroup
Citigroup says data yesterday from IDC showing a Q1 PC unit decline of 4% was "much less than feared." Citi continues to view HP (HPQ) as its top IT Hardware stock. It has a Buy rating on HP with a $40 price target.
07:55 EDTGSGoldman joined by RBC in suing clients after Singapore crash, Bloomberg says
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07:43 EDTJPMJPMorgan (JPM) CEO says 2013 was a year of 'pain,' WSJ reports
J.P. Morgan CEO Jamie Dimon acknowledged in his annual shareholder letter that legal issues and new regulations faced by the bank made 2013 "the most painful, difficult and nerve-wracking experience" he has ever dealt with professionally, reported The Wall Street Journal. Reference Link
07:39 EDTAAPLApple Chief Designer gains more say over software, Bloomberg says
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07:24 EDTAAPLApple may release 12" Retina MacBook Air, low price iMac in 2014, MacRumors says
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06:56 EDTHPQHP estimates raised above consensus at Morgan Stanley
Morgan Stanley raised Overweight rated HP FY15-16 estimates above consensus to reflect a margin recovery in Enterprise Services. The firm's FY15 EPS estimate goes to $4.05 vs. consensus of $3.84 and price target is raised to $36 from $34.
06:55 EDTHPQHP initiated with a Buy at Deutsche Bank
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06:48 EDTAAPLApple initiated with a Buy at Deutsche Bank
Deutsche Bank believes the iPhone and iPad offer good growth for Apple with upside coming from the potential for a larger screen sized phone. The firm initiated the stock with a Buy rating and $650 price target.
06:41 EDTAAPLApple confirms Christie departure, FT reports
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06:41 EDTJPMGo Daddy hires Morgan Stanley, JPMorgan for IPO, NY Times says
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06:35 EDTGS, JPMMobile banking presents opportunity and risks for banks, WSJ reports
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06:23 EDTHPQIDC says worldwide PC shipments totaled 73.4M units in Q1, down 4.4% y/y
Worldwide PC shipments totaled 73.4 million units in 1Q14, a decline of -4.4% year on year, according to the International Data Corporation Worldwide Quarterly PC Tracker. Although still in decline and with continuing weakness in consumer and emerging market segments, the preliminary results are slightly better than a projected decline of -5.3%. The U.S. market continued to stabilize with growth near zero – in line with forecasts. With shipments totaling 14.3 million PCs in 1Q14, the U.S. market contracted by -0.6% from the same quarter a year ago. Desktop shipments were slightly stronger, posting 3.5% growth, while portables remained in negative territory. Lenovo (LNVGY) preserved its lead in total worldwide PC shipments despite a seasonal drop due to the Chinese New Year. Growth in other regions continued at a solid pace although Latin America slowed after a dramatic expansion over the past year. HP (HPQ) remained in the number 2 position, with growth rising nicely to nearly 5% year on year. Dell grew over 9% in the first quarter.
06:12 EDTCROXCrocs initiated with a Buy at Buckingham
Target $20.
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