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Stock Market & Financial Investment News

News Breaks
January 17, 2013
12:25 EDTHLF, CBS, BAC, CLSN, NUS, BLK, BA, PWER, KSWS, COn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday following a better than expected monthly report on housing and lower than expected weekly jobless claims. The economic data lifted the futures and led to a higher open for the broader market. The averages have drifted slightly higher during the morning but remain in a narrow range, albeit near five year highs. Financial companies, which are currently in the process of releasing earnings, have been laggards today as investors have been unimpressed with this morning's reports from Citigroup (C) and Bank of America (BAC)... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell to 335K, versus expectations for a relatively flat level at 370K. Housing starts surged 12.1% to 954K in December, which was better than expected, while building permits edged up 0.3% in the month to 903K, which was in-line with forecasts. The day's lone disappointing data came from the Philly Fed, which had its manufacturing survey unexpectedly fall to -5.8, compared to consensus calls for a much smaller decline to a 6.0 reading... COMPANY NEWS: Boeing (BA) was front and center in yet another trading session after the FAA grounded the 787 Dreamliner and regulators around the world followed suit. Shares of the Dow component were virtually unchanged in afternoon trading in spite of the news... Citigroup (C) missed earnings expectations, leading to a 2.9% decline in its stock, while Bank of America slid over 3.7% in spite of its earnings narrowly beating consensus. One financial name bucking the sector's trend, however, was BlackRock (BLK), which advanced 4.2% after its results beat expectations and the company increased its dividend... MAJOR MOVERS: Among the notable gainers were K-Swiss (KSWS), up 48% after agreeing to be acquired for $4.75 cash per share, and CBS (CBS), up 10% after announcing plans to convert its U.S. outdoor advertising business to a REIT. Also higher were shares of Nu Skin (NUS), which rose nearly 10% after giving better than expected guidance and are now up almost 3% since the day that Bill Ackman revealed his short thesis in multi-level marketing peer Herbalife (HLF). Among the noteworthy losers were Celsion (CLSN), down almost 9% following a downgrade to Sell at Brean Capital, and Power-One (PWER), down over 7% after lowering its revenue view... INDICES: Near noon, the Dow was up 79.67, or 0.59%, to 13,590.90; the Nasdaq was up 17.87, or 0.57%, to 3,135.41; and the S&P 500 was up 7.97, or 0.54%, to 1,480.60.
News For BA;BAC;C;BLK;CBS;KSWS;NUS;HLF;PWER;CLSN From The Last 14 Days
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January 14, 2015
06:57 EDTBACBarclays appoints Jonathan Moulds as Group COO
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06:28 EDTCBSViacom downgraded to Sell from Buy at Citigroup
Citigroup downgraded Viacom (VIAB) two notches to Sell from Buy and lowered its price target for shares to $62 from $88. Citi says its new price target assumes a 50% probability that DISH (DISH) drops Viacom's channels. The firm sees 30% share downside risk should such an event occur. Citi lists two potential M&A deals that could offset the downside risk: Viacom acquiring CBS (CBS), which it feels would be neutral for the stock, or another media firm acquiring Viacom, which it feels could drive 20% upside for Viacom shares. Citi assumes a 10% probability of Viacom getting bought out.
06:10 EDTBLKBlackRock upgraded to Buy from Neutral at Goldman
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06:04 EDTCCiti appoints CD Davies head of global Mortgage business
Citi yesterday announced that CD Davies has been appointed Head of Citiís Mortgage business globally. Davies joined Citi in March 2014. He will continue to report to Jane Fraser, CEO of CitiMortgage and U.S. Consumer and Commercial Banking. Davies was previously President and CEO of Wachovia Mortgage Corporation.
05:55 EDTHLFStocks with implied volatility above IV index mean; HLF YHOO
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January 13, 2015
16:09 EDTBABoeing says Campbell to lead 737 program, Zaback to head 767 program
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15:51 EDTCSpringleaf, Apollo Global among bidders for OneMain, Bloomberg says
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15:12 EDTBAC, CU.S. Supreme Court decision gives homeowners leeway to rescind mortgage loans
In an unanimous ruling, the U.S. Supreme Court ruled on Jesinoski vs. Countrywide Home Loans that homeowners are allowed to rescind home mortgages within the three years allotted under the Truth in Lending Act of 1968 by providing written notice to his/her lender. The court ruled that the borrowers were not required to file suit against the lender, which the respondents, Countrywide, claimed. The notice of rescission was sufficient to clear the homeowners of any obligation to the loan, provided they do it within the allotted time. Countrywide Home Loans is a subsidiary of Bank of America (BAC). Other publicly traded companies in the banking space include Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
15:07 EDTCSpringleaf conducts due dillegence on OneMain, Bloomberg reports
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12:27 EDTCDOJ, EPA report proposed settlement regarding cleanup of Warren County, NJ site
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11:20 EDTBACBank of America January volatility elevated into Q4 and outlook
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11:04 EDTCCitigroup January volatility elevated into Q4 and outlook
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09:36 EDTCActive equity options trading
Active equity options trading according to Track Data: AAPL AMD AA TWTR GILD C CELG TSLA GOOG
07:55 EDTBLKCFA Society of San Francisco to hold a luncheon meeting
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07:44 EDTC, BACNationstar, non-bank lenders could get boost from refis, WSJ says
As a decline in interest rates and a reduction in federal loan fees boosts refinancing activity, smaller banks and non-bank lenders, such as Quicken Loans, loanDepot, and Nationstar Mortgage (NSM), may be in a better position than large banks to benefit, said The Wall Street Journal. Publicly traded large U.S. banks include Bank of America (BAC), Citi (C), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:40 EDTBACommercial aircraft demand outlook still positive, says Bernstein
Bernstein continues to have a positive outlook on commercial aircraft demand for 2015, as the firm does not see $50 Brent oil as a negative for the sector unless the price stays below that level for the long-term. Bernstein thinks the general demand outlook for the sector is positive, and it identifies Boeing (BA) and United Technologies (UTX) as two of its favorite names in the space.
06:50 EDTBABoeing, Airbus could be hurt by oil tumble, NY Times says
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06:38 EDTCCiti cut consumer banking business, Reuters reports
Citi is cutting its consumer banking operations in some of the world's largest cities, according to Reuters. Last year, the bank decided to target 100 cities with retail banking services, down from its previous level of 120 cities, the news service stated. Reference Link
06:01 EDTHLFStocks with implied volatility above IV index mean; HLF YHOO
Stocks with implied volatility above IV index mean; Herbalife (HLF) 115, Yahoo (YHOO) 52 according to iVolatility.
05:29 EDTBABoeing records $232.7B in commercial net in orders in 2014
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