New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 15, 2014
12:18 EDTCHTP, QIWI, GM, DTLK, BAC, NUSOn 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 | 3 | all recent news | >>
June 24, 2015
18:57 EDTGMFiat Chrysler CEO 'very far' from pressuring GM investors, Reuters says
Subscribe for More Information
16:00 EDTBACActionable Options for Wednesday, June, 24
iPath S&P 500 VIX Short-Term Futures up 30c to 17.32 Option volume leaders: AAPL FB NFLX BAC VALE MU BABA WMB T F EBAY FCX TWTR BBRY
11:18 EDTGMGeneral Motors to host conference call
Subscribe for More Information
10:27 EDTGMGeneral Motors slips to session lows, levels to watch
Subscribe for More Information
10:00 EDTGMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
06:43 EDTGMGeneral Motors volatility low into downgrade to Neutral from Buy at Goldman
General Motors July call option implied volatility is at 17, August and September is at 19; compared to its 52-week range of 17 to 38, suggesting decreasing price movement into Goldman downgrade to Neutral and lowered its price target to $40 from $47 due to a weakness in China and softening US profit momentum.
06:37 EDTBACDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
06:27 EDTGMGeneral Motors downgraded to Neutral from Buy at Goldman
Goldman downgraded General Motors (GM) to Neutral and lowered its price target to $40 from $47 due to a weakness in China and softening US profit momentum. The firm's recent dealer visits in China indicate increased promotional activity and net price deterioration to support Shanghai GM JV product sales. Goldman said this, combined with margin pressure, will likely lead to a reduction in China guidance. For North America, the firm said Q1 carryover product pressure has extended into Q2 and could be pressured further with full availability of Ford's (F) F-150 heading into 2H 2015.
June 23, 2015
17:44 EDTGMGoldman ups Ford to Buy, cuts GM to Neutral
Subscribe for More Information
17:27 EDTGMGeneral Motors downgraded to Neutral from Buy at Goldman
16:00 EDTBACOptions Update; June 23, 2015
iPath S&P 500 VIX Short-Term Futures down 46c to 17. Option volume leaders: AAPL FB AAPL T BAC MU BTU WMB AMZN TWTR BBRY
09:36 EDTBACActive equity options trading on open
Subscribe for More Information
06:25 EDTBACBarclays-Stifel deal marks end of Lehman legacy, Business Insider reports
Subscribe for More Information
June 22, 2015
16:00 EDTBACOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
12:41 EDTGMHyundai nearing sponsorship agreement with NFL, Bloomberg reports
Subscribe for More Information
11:15 EDTGMGM activists not interested in merger with Fiat Chrysler, Financial Times says
General Motors (GM) activist holders have said they will not push for a merger with Fiat Chrysler (FCAU), reports the Financial Times. According to four people familiar with the matter, the activist contingent, which controls about 1.5% of GM shares, is more interested in cutting costs than embarking on a complicated merger transaction. One person close to the hedge funds said the investors believe consolidation makes sense but are unsure "that this particular consolidation makes sense." Reference Link
11:02 EDTGMGeneral Motors to invest $245M at Orion Assembly plant
General Motors said it will invest $245M and add 300 new jobs at its Orion Assembly plant to support launching an all-new vehicle program. "Orion Assembly is a breeding ground for manufacturing innovation, said Cathy Clegg, GM North America vice president of Manufacturing and Labor Relations. "It serves as a model for how to engage the entire workforce at all levels to achieve success. The plant is up to the challenge of building this brand-new product, something its never seen before." Investment in Orion totals $962M since the UAW and GM worked together to reopen the previously idled plant in 2010, the automaker announced in a statement. Today's announcement is a part of the $5.4B GM has announced it will invest in U.S. manufacturing over the next three years. Approximately $3.1B of the $5.4B has been identified, leaving $2.3B to be announced by year end.
09:40 EDTBACActive equity options trading on open
Subscribe for More Information
06:57 EDTGMCNH Industrial upgraded to Neutral from Underweight at JPMorgan
JPMorgan upgraded CNH Industrial (CNHI) to Neutral saying the stock could find support until the potential General Motors (GM) and Fiat-Chrysler (FCAU) merger is resolved. The firm raised its price target for shares to $8.50 from $7.50.
06:08 EDTGMGeneral Motors to add over 243,000 hatcbacks to air bag recall, AP reports
Subscribe for More Information
1 | 2 | 3 | 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