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Stock Market & Financial Investment News

News Breaks
January 16, 2013
12:25 EDTBA, JPM, GS, AAPL, CBK, GNW, CMG, CROXOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with new worries for Boeing (BA) weighing on its shares and in turn the Dow. The earnings season began in earnest today with some of the country’s largest financial institutions reporting fourth quarter results, including JPMorgan (JPM), Goldman Sachs (GS) and U.S. Bancorp (USB). Still to come this week are Bank of America (BAC) and Citigroup (C), set to report tomorrow, and Morgan Stanley (MS), scheduled to release results 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 slid over 3% and dragged on the Dow Jones Industrial Average 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... JPMorgan (JPM) reported earnings that beat expectations, but shares moved up only fractionally. The company notably also released its report on the "London Whale" losses at its CIO unit and cut CEO Jamie Dimon's compensation following that scandal. Another major financial company, Goldman Sachs (GS), beat expectations more resoundingly and shares rose more dramatically, up about 3% near noon... MAJOR MOVERS: Among the notable gainers were Genworth Financial (GNW), up 9% after announcing changes to its mortgage insurance unit, and Christopher & Banks (CBK), up nearly 14% after raising its Q4 same-store sales view. Also higher were shares of Apple (AAPL), which rose 3.6% to retake the $500 level despite Pacific Crest downgrading the stock to Sector Perform and Bank of America Merrill Lynch lowering its price target on shares. Among the noteworthy losers were Crocs (CROX), down over 7% after saying it expects quarterly revenue to be in-line with its previous guidance, and Chipotle Mexican Grill (CMG), down nearly 6% after guiding to Q4 earnings below consensus due to higher food costs... INDICES: Near noon, the Dow was down 23.65, or 0.17%, to 13,511.24; the Nasdaq was up 6.75, or 0.22%, to 3,117.53; and the S&P 500 was down 0.68, or 0.05%, to 1,471.66.
News For BA;JPM;GS;AAPL;CBK;GNW;CMG;CROX From The Last 14 Days
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August 20, 2014
18:29 EDTGS, JPMBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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16:01 EDTAAPLOptions Update; August 20, 2014
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13:46 EDTAAPLVerizon looking to build app store, The Information says
Verizon (VZ) is looking to partner with other companies to build an app store, according to The Information. Verizon's app store would compete with Google (GOOG) and Apple (AAPL), which already sell smartphone software, The Information noted. Reference Link
11:37 EDTGSGoldman ups U.S. junior employees FY15 wages by 20%, Bloomberg says
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11:15 EDTAAPLGT Advanced retreats after analyst downgrades stock
Shares of sapphire maker GT Advanced (GTAT) are falling after research firm CLSA downgraded the stock in a note to investors today. The firm cited concerns about increased costs associated with the company's deal with Apple as the main reason for the downgrade. WHAT'S NEW: GT Advanced's costs associated with its deal to supply sapphire to Apple are being impacted by low yields, CLSA analyst Mark Heller wrote after speaking with strategic consulting firm Yole Développement. Lower yields will reduce the amount of sapphire that GT Advanced can produce for Apple, and will negatively affect GT’s profit margins, explained Heller. He believes that GT Advanced's risk/reward ratio is balanced at current levels, and downgraded his rating on the shares to Underperform from Outperform. However, he raised his price target on the shares to $19 from $18. PRICE ACTION: In late morning trading, GT Advanced fell 2% to $18.
10:32 EDTGSGoldman to up U.S. junior employees FY15 salaries by 20%, Bloomberg says
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09:38 EDTAAPL, AAPLGT Advanced downgraded to Underperform from Outperform at CLSA
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL FOLD TSLA TWTR WHX FB TM NFLX X EOG
06:28 EDTAAPLApple could delay iWatch until 2015, FT Alphaville reports
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August 19, 2014
17:14 EDTAAPLOn The Fly: Closing Wrap
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16:45 EDTBABombardier shakes up commercial aircraft marketing division, WSJ says
Canadian transportation company Bombardier (BDRBF) has replaced its commercial aircraft marketing chief Philippe Poutissou with Ross Mitchell, says the Wall Street Journal. The moves come as part of a broader restructuring of Bombardier's marketing division as the company competes with Boeing (BA) and Airbus Group (EADSY), added the Wall Street Journal. Reference Link
16:00 EDTAAPLOptions Update; August 19, 2014eBay
iPath S&P 500 VIX Short-Term Futures down 28c to 27.52. Option volume leaders: AAPL C HD PBR GILD AA NFLX TWTR TSLA EBAY according to Track Data.
14:19 EDTAAPLCarl Icahn says increased Apple position over past year
Carl Icahn tweeted in regards to Apple, "All my chips still on the table and in fact increased position over past year." Icahn added that anyone who invested in Apple last year when he recommended the stock would be up 53% including dividends.
13:54 EDTAAPLCarney a contender to take over top communications job at Apple, Re/code says
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12:40 EDTAAPLApple nears life high, levels to watch
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12:27 EDTAAPLIcahn says 'very sizable' shareholder of Apple, has not sold share
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11:57 EDTAAPLApple shares reach $100, up 84c or 1%
09:38 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GILD TSLA CELG VLO VZ FB HD
06:34 EDTGSGoldman abandons effort to toss out $1B Gaddafi suit, Telegraph says
Goldman Sachs (GS) abandoned its effort to toss out a London court suit from the Libyan Investment Authority who alleged that the bank lost over $1B worth of funds during the final years of Muammar Gaddafi's reign as dictator, according to the Telegraph, citing comments from the LIA. The LIA sued both Goldman and Societe Generale (SCGLY) over claims that the banks' London divisions took-in exorbitant fees while losing money in derivative trades. Reference Link
06:32 EDTAAPLMorgan Stanley recommends adding to Apple positions
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