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Stock Market & Financial Investment News

News Breaks
November 8, 2012
10:08 EDTUSM, RST, TSM, PH, RIG, SO, PCS, BAC, LYG, ENB, ED, KGC, DUK, CLWR, EXC, DOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bank of America (BAC) upgraded to Buy from Hold at ISI Group... Clearwire (CLWR) upgraded to Sector Perform from Underperform at RBC Capital... Consolidated Edison (ED) upgraded to Sector Perform from Underperform at RBC Capital... Dominion (D) upgraded to Buy from Hold at ISI Group... Duke Energy (DUK) upgraded to Buy from Hold at ISI Group... Enbridge (ENB) upgraded to Action List Buy from Buy at TD Securities... Exelon (EXC) upgraded to Neutral from Sell at UBS... Juniper (JNPR) upgraded to Buy from Hold at Cantor... Kinross Gold (KGC) upgraded to Buy from Hold at Canaccord... Lloyds Banking (LYG) upgraded to Outperform from Market Perform at Bernstein... MetroPCS (PCS) upgraded to Outperform from Neutral at Macquarie... Parker-Hannifin (PH) upgraded to Buy from Hold at ISI Group... Rosetta Stone (RST) upgraded to Buy from Neutral at Sidoti... Southern Company (SO) upgraded to Outperform from Sector Perform at RBC Capital... TSMC (TSM) upgraded to Buy from Neutral at UBS... Transocean (RIG) upgraded to Buy from Hold at Argus... U.S. Cellular (USM) upgraded to Outperform from Market Perform at Raymond James.
News For BAC;CLWR;ED;D;DUK;ENB;EXC;KGC;LYG;PCS;PH;RST;SO;TSM;USM;RIG From The Last 14 Days
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March 20, 2015
11:03 EDTUSMU.S. Cellular says to close rewards program by September
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10:36 EDTBACBank of America changes bylaws to allow some investors to nominate directors
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07:19 EDTRIGWhite House expected to unveil fracking rules today, WSJ says
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06:21 EDTLYGLloyds Banking confirms sale of shares to Sabadel
Lloyds Banking notes the announcement by TSB Banking in relation to the agreed terms of the recommended cash offer for TSB Banking by Banco de Sabadell, pursuant to which Sabadell will acquire the entire issued and to be issued share capital of TSB. The Group has agreed to sell a 9.99% interest in TSB to Sabadell, and the Group has entered into an irrevocable undertaking to accept the Offer in respect of its entire remaining 40.01% shareholding in TSB. Under the terms of the Offer, TSB Banking Group plc shareholders will receive 340 pence per share in cash for each TSB share, which values the entire issued share capital of TSB at approximately GBP 1.7B. Reference Link
05:58 EDTTSMTaiwan chipmakers unaffected by water shortages, DigiTimes reports
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05:57 EDTLYGLloyds to sell 50% stake in TSB to Sabadell, Financial Times reports
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05:57 EDTBACBank of America faces pressure to defend structure, Financial Times reports
Bank of America will have to defend its current structure at its annual meeting in May after the SEC allowed a small shareholder the right to challenge the board on a break-up, reports the Financial Times. Bank of America's board could be under pressure to appoint a committee to examine a plan for divesting all non-core banking businesses if a proposal from Barlett Naylor of Public Citizen is adopted. Reference Link
March 19, 2015
13:00 EDTRIGOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
11:53 EDTBACU.S. banks face headwinds in unloading oil loans, WSJ says
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11:24 EDTRIGStocks with call strike movement; X RIG
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09:20 EDTRIGOn The Fly: Pre-market Movers
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07:50 EDTRIGTransocean reiterated as a Sell, target to $11 at Goldman
After the close, Transocean announced that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI for the Transocean Amirante was terminated due to the deteriorating security situation in Libya. The firm said these two announcements are indicative of the very weak contracting environment. Goldman reiterates its Sell rating on Transocean and lowered its price target to $11 from $12.
07:42 EDTDUKThe Federal Energy Regulatory Commission (FERC) to hold a meeting
The Commission discusses Duke Energy Carolinas, Duke Energy Progress, Black Hills Power and Westar Energy in an Open Commission Meeting being held at FERC Washington, D.C.'s offices on March 19 at 10 am. Webcast Link
07:14 EDTRSTWall Street Analyst Forum to hold a conference
25th Annual Investor Conference is being held in New York on March 19.
06:30 EDTBACSEC says BofA must put investment bank spinoff to shareholder vote, Reuters says
The SEC has told Bank of America that it must allow shareholders to vote on whether the company will attempt to spin off its investment bank unit, reports Reuters, citing a decision by the Securities and Exchange Commission. A bank spokesperson said the company "will respond to the proposal in our proxy statement." Reference Link
March 18, 2015
16:28 EDTRIGTransocean provides fleet update summary
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07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
March 17, 2015
16:00 EDTRIGOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
08:34 EDTBACBank of America reinstated with an Outperform at Raymond James
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08:01 EDTEXCExelon, Pepco Holdings reach settlement agreement with Maryland counties
Exelon Corporation (EXC) and Pepco Holdings (POM) announced that they have reached a settlement agreement with Montgomery and Prince George’s counties in the proceeding before the Maryland Public Service Commission to review the companies’ proposed merger, which was announced on April 30, 2014. The two counties represent all of Pepco’s Maryland customers and nearly three-fourths of Pepco Holdings total customers in Maryland. The settlement, which is subject to the approval of the Commissioners of the PSC, was filed by Exelon and Pepco Holdings and signed by Montgomery County, Prince George’s County, the National Consumer Law Center, National Housing Trust, Maryland Affordable Housing Coalition, the Housing Association of Nonprofit Developers and a consortium of nine recreational trail advocacy organizations led by the Mid-Atlantic Off-Road Enthusiasts. The settlement includes commitments aimed at providing benefits to customers and the state through a combination of bill credits, funding for energy-efficiency programs and renewables investments, low-income customer assistance and other provisions, including: A commitment to designate a portion of a proposed $94.4M customer investment fund to provide $36.8M in bill credits, or approximately $50 per Pepco and Delmarva Power customer in Maryland. The remainder -- $57.6M -- will go toward funding energy-efficiency programs designated by Montgomery County, Prince George’s County and the PSC. A commitment to help economically challenged customers lower their energy bills by dedicating at least 20% of the energy efficiency funds to programs targeting low- and moderate-income customers. In addition to today’s agreement, Exelon and Pepco Holdings announced March 10 that they have reached a settlement with The Alliance for Solar Choice in Maryland. The merger requires approvals by the Maryland Public Service Commission, the Public Service Commission of the District of Columbia and the Delaware Public Service Commission. On Feb. 13, Exelon reached a settlement agreement with staff of the Delaware Public Service Commission and other stakeholders, and the agreement is pending approval by the Commission. Following the expiration of the U.S. Department of Justice’s review period on Dec. 22, 2014, the Hart-Scott-Rodino Act no longer precludes completion of the merger.
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