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Stock Market & Financial Investment News

News Breaks
January 16, 2013
12:25 EDTGNW, GS, CROX, CBK, JPM, CMG, AAPL, BAOn 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 countryís 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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May 11, 2015
14:57 EDTAAPLUSPTO sides with Apple, says certain claims of VirnetX 'unpatentable'
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12:17 EDTAAPLApple mulls expansion of key Irish plant, Independent. ie says
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11:37 EDTAAPLApple expanding renewable energy projects in China
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11:24 EDTAAPLUBS says Apple Watch could become 'must-have' device, but not yet
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09:59 EDTJPMOn The Fly: Analyst Downgrade Summary
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09:58 EDTJPMBarclays expected to pay GBP2B to settle forex rigging charges, FT says
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09:56 EDTAAPLIDC: Apple leads smartphone vendors in China during Q1
IDCís latest Mobile Phone Tracker shows the China smartphone market contracted by 4% year-on-year with 98.8M units shipped in the first quarter of 2015. This is the first time in six years that the China smartphone market declined YoY as the market continues to mature. On a QoQ basis, the market contracted 8% on the back of a large inventory buildup at the end of last year. The study said Apple (AAPL) was the top smartphone vendor in China in the first quarter, with consumers still having a strong appetite for the larger screens on the iPhone 6 and iPhone 6 Plus. Xiaomi slipped to the second position as it faced strong competition from other vendors in the low to mid-range segment of the market, while Huawei maintained third position as it saw a good uptake in the mid-range segment. Samsung (SSNLF) and Lenovo (LNVGY) both led the market at least once last year, but rankings have since changed quickly, highlighting the volatility of consumers' brand preference in China. Reference Link
09:37 EDTAAPLActive equity options trading on open
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08:41 EDTAAPLApple Watch may become 'must have' as interface to internet, says UBS
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08:18 EDTGS, JPMBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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07:46 EDTJPMJPMorgan price traget raised to $73 from $68 at BofA/Merrill
BofA/Merrill raised Buy rated JPMorgan's price target to $73 following a meeting with Chairman Jamie Dimon. The analyst believes earnings surprises are likely and the market is over-discounting the impact of regulation. BofA/Merrill expects JPMorgan to benefit from its multi-dimensional model, EPS sensitivity to rising interest rates, and a shift in Fed monetary policy which will drive bond market volatility.
07:30 EDTBABoeing May volatility at low end of range into investor meeting
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07:28 EDTJPMJPMorgan downgraded to Neutral from Buy at MKM Partners
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06:44 EDTAAPLFiat Chrysler CEO met with Apple, Tesla CEOs, Reuters says
During a trip to California, Fiat Chrysler (FCAU) CEO Sergio Marchionne met with Apple (AAPL) CEO, Tim Cook, and Tesla (TSLA) CEO Elon Musk, reports Reuters, citing Marchionne. Marchionne also vowed that the company would make a stronger attempt in the luxury SUV market, Reuters adds. Reference Link
06:33 EDTBAAir Lease announces lease placement of two new Boeing aircraft with Hainan
Air Lease (AL) announced long term lease agreements with Hainan Airlines for two new Boeing (BA) 787-9 aircraft, both from ALCís order book with Boeing. ALC has ordered 46 new Boeing 787-9 and 787-10 aircraft in total for deliveries beginning in spring 2016.
06:25 EDTBABoeing management to meet with Jefferies
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06:11 EDTGSStudy: Jet.com has lower prices than Amazon '94% of the time,' WSJ reports
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06:07 EDTCBKChristopher & Banks hires Perella Weinberg to explore sale, NY Post reports
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05:20 EDTGNWGenworth Financial announces sale of portion of interest in Genworth Australia
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05:05 EDTAAPLApple announces environmental initiatives in China
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