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Stock Market & Financial Investment News

News Breaks
January 17, 2013
12:25 EDTBA, PWER, HLF, NUS, KSWS, CBS, BLK, C, BAC, CLSNOn 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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July 10, 2014
06:16 EDTBACHolder refuses meeting with BofA head, Reuters says
Attorney General Eric Holder has formally decided to not meet with Bank of America CEO Brian Moynihan to discuss a multibillion-dollar agreement, as talks to resolve investigations into shoddy mortgage securities sold by the firm and its divisions are delayed, according to Reuters, citing people familiar with the matter. Sources said that no discussions between the bank and the U.S. Department of Justice have occurred since the second week in June. Reference Link
05:45 EDTBABoeing forecasts demand for 36,770 new planes valued at $5.2T
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July 9, 2014
13:44 EDTCBSNetflix wins video on demand rights to 'Zoo' series, Variety reports
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10:02 EDTCBSOn The Fly: Analyst Initiation Summary
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06:51 EDTC, BACBofA also in talks with DOJ to settle civil probes over mortgage unit, WSJ says
In addition to the talks with Citigroup (C), the Department of Justice has also has been in talks with Bank of America (BAC) to resolve civil probes over its mortgage business, the Wall Street Journal reports. Reference Link
06:51 EDTBABoeing expands maintenance support to customers in Southeast Asia
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06:37 EDTCCitigroup close to settling mortgage probe for $7B, NY Times reports
Citigroup is nearing a deal with the Justice Department, under which the bank would pay about $7B to settle a civil probe of mortgage investments it sold, according to The New York Times. Dow Jones yesterday reported that Citigroup would pay about $4B to settle the probe. Reference Link
05:24 EDTBABoeing, Emirates finalize order for 777Xs valued at $56B
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05:10 EDTBABoeing, Air New Zealand announce first 787-9 Dreamliner delivery
Boeing announced the first 787-9 Dreamliner delivery with launch customer Air New Zealand. This 787-9, painted in a unique black livery, is the first of 10 Dreamliners to join Air New Zealand's fleet. The airline said the airplane will operate the Auckland–Perth route in October 2014 and to both Tokyo and Shanghai in November 2014.
July 8, 2014
18:18 EDTCBSU.S. Media sector initiated with a Neutral at Barclays
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18:08 EDTCBSCBS initiated with an Equal Weight at Barclays
Target $68.
16:56 EDTCCitigroup near $4B settlement with U.S. over mortgage probe, CNBC says
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16:33 EDTCCitigroup near multi-billion settlement with U.S. over mortgage probe, DJ says
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12:58 EDTBLKBlackRock poaches JPMorgan Asset Management's Chris Jones, Reuters reports
BlackRock (BLK) has hired Chris Jones, an adviser from JPMorgan Asset Management (JPM), Reuters reports. Jones will serve as co-head of BlackRock's Global Fundamental Equity. Reference Link
10:06 EDTBABoeing to build Intelsat 35e EpicNG satellite
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07:45 EDTCCitigroup July volatility flat into Q2 and outlook
Citigroup July call option implied volatility is at 24, August, September and December is at 18; compared to its 26-week average of 23 according to Track Data, suggesting non-directional near term price movement into the expected release of Q2 results on July 14.
07:02 EDTBASpirit selects Ducommun for Boeing 737 MAX
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06:46 EDTBAAirbus optimistic about A330neo, urges for weaker euro, Reuters says
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06:22 EDTBABoeing faces risk to long-term credit if Export-Import Bank is closed, WSJ says
According to a new study by S&P, Boeing (BA) could have to double its financial backing to airline and leasing-company clients over the long term if U.S. lawmakers decide to close the Export-Import Bank, the Wall Street Journal reports. S&P says that a significant expansion of its direct loans and guarantees risks harm to Boeing's long-term credit rating. Other manufacturers, like United Technologies (UTX), Caterpillar (CAT) and General Electric (GE), also face risks should the bank be eliminated. Reference Link
06:08 EDTCCitigroup assumed with a Market Perform at Keefe Bruyette
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