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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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October 14, 2014
08:00 EDTCCitigroup reports Q3 revenue $20B ex- CVA/DVA
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07:59 EDTCCitigroup reports Q3 EPS $1.15 ex CVA/DVA, consensus $1.12
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07:23 EDTCBSCBS more attractive than Disney, says Wells Fargo
Among media and cable stocks, Wells Fargo sees the least risk and most reward potential in CBS (CBS). The firm sees the least reward potential and most risk in Disney (DIS). The firm believes that the market is overestimating the ad declines for CBS, and it thinks that CBS' stock may have finally bottomed. Disney has a relatively expensive valuation and tough comps, added Wells Fargo, which keeps Outperform ratings on both stocks.
07:13 EDTCCitigroup chairman suggests wrapping FDIC, OCC into single regulator, WSJ says
Citigroup Chairman Michael O'Neill is calling for a more rational regulatory landscape, the Wall Street Journal reports. He suggests wrapping the FDIC and the Office of the Comptroller of the Currency into a single banking regulator. Reference Link
October 13, 2014
16:02 EDTBAC, COptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
15:24 EDTCNotable companies reporting before tomorrow's open
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14:33 EDTCEarnings Preview: Citigroup to report with shares up 11% over last six months
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14:29 EDTBABoeing begins production on first 737 MAX parts
Boeing has started production of the first 737 MAX fuselage stringers at Boeing Fabrication Integrated AeroStructures in Auburn, Wash. Stringers run the length of the fuselage structure giving it stability and strength. After forming, Boeing will send the stringers to Spirit Aerosystems in Wichita, Kan. for incorporation into the first 737 MAX fuselage. From there the fuselage will be shipped to Boeing's Renton, Wash. facility where Boeing employees will build the 737 MAX. The program is on track to begin final assembly of the first 737 MAX in 2015. The airplane will be part of the flight test fleet and is scheduled to fly in 2016. The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. The 737 MAX will be 14% more fuel-efficient than today's most efficient Next-Generation 737s and 20% better than the original Next-Generation 737s when they first entered service.
13:48 EDTCCitigroup October volatility increases into Q3 and revenue outlook
Citigroup October call option implied volatility is at 39, November is at 25, December is at 25, January is at 24; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 14.
10:17 EDTBAEbola related weakness in aerospace stocks seen as buying opportunity
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09:06 EDTCBSNetflix, CBS sign distribution deal in Europe, Hollywood Reporter says
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09:01 EDTHLFHerbalife moving distributor websites to central control, NY Post reports
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07:26 EDTBACommercial aerospace stocks should be bought on any weakness, says Wells Fargo
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07:19 EDTC, BACAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
07:07 EDTCBSCBS sell-off brings 'interesting' entry point, says Piper Jaffray
Piper Jaffray says the recent pullback in shares of CBS provides an "interesting" entry point with the new broadcast season showing promise. Piper sees upside to 2015 consensus estimates and keeps an Overweight rating on CBS with a $75 price target.
06:44 EDTBAC, CRegulators seeking banks' auto loan data, Reuters reports
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06:37 EDTBLKBlackRock, Morgan Stanley to buy shares in Link Net, WSJ reports
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00:04 EDTBAC, CBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
19:41 EDTBABoeing and Garuda Indonesia announce $4.9B order
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13:03 EDTC, BACBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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