New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 15, 2014
12:18 EDTDTLK, BAC, NUS, CHTP, QIWI, GMOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday following a better than expected report on manufacturing in the New York region as well as solid earnings from Bank of America (BAC). Renewed optimism surrounding the earnings season following reports from three of the largest U.S. banks has given investors the confidence to push the Dow to its second triple digit gain in a row. ECONOMIC EVENTS: In the U.S., the 0.4% increase in the producer-price index in December from the prior month matched economists' estimate. The "core" measure, which excludes food and energy, climbed 0.3%, which was more than the 0.1% forecast. The Empire State manufacturing index surged to 12.5 in January from a revised 2.2 reading for December, beating expectations for a more modest rise to 3.5. Also, in its latest Global Economic Prospects report the World Bank raised its forecast for global economic growth to 3.2% this year from 2.4% in 2013. COMPANY NEWS: Bank of America grew its fourth quarter earnings to 29c a share, which was greatly increased from the 3c a share it posted in the same period last year earlier and also exceeded the 26c a share that analysts had expected. Shares of the bank, the third large U.S. bank to report in the last two days, rose about 2.5% near midday following the report... General Motors (GM) shares were down nearly 2% amid a number of newsworthy developments. The automaker declared a 30c per share quarterly common stock dividend, its first dividend since coming out of bankruptcy, and appointed a new Chief Financial Officer. GM also said it expects its earnings before interest and tax to be "modestly improved" in 2014, but warned it expects restructuring costs this year of $1.1B. MAJOR MOVERS: Among the notable gainers was Chelsea Therapeutics (CHTP), whose share price more than doubled after an FDA advisory committee voted to support approval of Northera for the treatment of neurogenic orthostatic hypotension. Also higher was Datalink (DTLK), a designer of servers, storage and networks, which soared 28% after the company raised its fourth quarter outlook. Among the noteworthy losers was multi-level marketer Nu Skin (NUS), which fell 19% after a cautious article about the company was published in the Chinese-language periodical "People's Daily." However, the company said in a statement to Bloomberg that the report contained inaccuracies. Also lower were shares of Qiwi (QIWI), a provider of payment services in Russia, which fell over 17% after Russia's Kommersant reported that the country may limit domestic payments using anonymous electronic wallets and ban cross-border payments using them. INDEXES: Near midday, the Dow was up 121.28, or 0.74%, to 16,495.14, the Nasdaq was up 28.42, or 0.68%, to 4,211.44, and the S&P 500 was up 10.29, or 0.56%, to 1,849.17.
News For BAC;GM;CHTP;DTLK;QIWI;NUS From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
March 26, 2015
11:46 EDTBACBofA: Naming CEO Moynihan chairman followed 'probing independent review'
Subscribe for More Information
08:17 EDTBACSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:22 EDTGMGeneral Motors near-term risk/reward favorable, says Deutsche Bank
After speaking with management, Deutsche Bank thinks General Motors' presentation to investors next week will be relatively upbeat. Deutsche believes GM is benefitting from mix and price in North America, mix in consolidated Asia, and raw material costs. It views the near-term risk/reward on shares as favorable, but keeps a Hold rating on the name.
March 24, 2015
08:41 EDTGMGeneral Motors capacity hampering sales growth, says Credit Suisse
Subscribe for More Information
07:45 EDTBACMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
Subscribe for More Information
06:18 EDTGMGM to build next-gen Chevrolet Cruze in Coahuila, Mexico, Reuters reports
Subscribe for More Information
06:12 EDTGMFord, GM considering asking for lower-paid workers, Bloomberg says
Ford (F) and General Motors (GM) are considering asking the United Auto Workers union to create a lower-pay tier of employee at U.S. auto factories, reports Bloomberg, citing people familiar with the matter. The union, on the other hand, is considering eliminating the existing tier structure altogether, according to a person familiar with the union leadership. The proposed lower tier worker would not assemble cars, said the sources. Reference Link
March 23, 2015
11:11 EDTGMGM ignition switch death claims rises to 74, WSJ reports
Subscribe for More Information
09:56 EDTBACMassachusetts securities regulator fines Merrill Lynch $2.5M, Reuters reports
Massachusetts Secretary of the Commonwealth William Galvin has fined Bank of America's Merrill Lynch unit $2.5M for failing to supervise employees properly, Reuters reports. Merrill, Lynch, Pierce, Fenner & Smith was accused of failing to stick to its own compliance rules. Reference Link
07:37 EDTGMVolkswagen to cut at least 150 workers at Russian plant, Reuters reports
Subscribe for More Information
March 20, 2015
10:36 EDTBACBank of America changes bylaws to allow some investors to nominate directors
Subscribe for More Information
08:01 EDTGMStifel says evidence supports Apple moving into electric vehicles
Analysts at Stifel say they see enough evidence to suggest that Apple is internally working on the development of a battery electric vehicle to be sold over the next five-to-ten years. The analysts are "intrigued" by Apple CFO Luca Maestri's background at General Motors (GM). They believe Apple's investments in manufacturing should be a key consideration for investors and point out the $40B spent by the iPhone maker over the past five years, with 80%-plus invested in manufacturing, is similar to GM, Ford (F) and Daimler-Benz and well above Tesla's $1.8B cumulative capex. The analysts say there is a "lot to think about" regarding Apple's move into the car space, including the regulatory environment. They keep a Buy rating on the tech giant with a $150 price target. Shares of Apple closed yesterday down 97c to $127.50.
06:22 EDTGMGM CEO to be questioned October 8 over ignition failures, AP says
Subscribe for More Information
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
11:53 EDTBACU.S. banks face headwinds in unloading oil loans, WSJ says
Subscribe for More Information
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
08:37 EDTGMGeneral Motors says to change business model in Russia
Subscribe for More Information
08:36 EDTGMGeneral Motors says to idle auto plant in St. Petersburg
07:10 EDTBACPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
06:25 EDTNUSCiti calls Nu Skin its 'pot of gold on St. Patrick’s Day'
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use