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Stock Market & Financial Investment News

News Breaks
April 19, 2012
16:33 EDTGILD, GNTX, EBAY, GSK, HGSI, TUMI, SPLK, DD, TRV, VZ, BACOn The Fly: Closing Wrap
Stocks on Wall Street were lower, as disappointing economic data overshadowed earnings that were largely better than expected. Stock futures were higher in early trading but weakened following disappointing jobless claims data and a rumor the sovereign debt of France would lose its AAA rating. When the French rumor went unfounded the market moved higher, but just temporarily. The averages stalled again after existing home sales data for March showed a decline versus an expected increase but gathered once more to move back into positive territory. As the day progressed and the European markets closed lower, the averages lost any momentum they'd found and fell back into negative ground. For the remainder of the day the market drifted in the red as investors prepared for the next round of corporate earnings reports... ECONOMIC EVENTS: In the U.S., more jobless claims applications were filed than forecast, with the figure hitting 386,000. Sales of previously owned homes in March unexpectedly fell 2.6% to a 4.48M annual rate from 4.6M in February. Forecasts had called for an increase to 4.61M. In Europe, Spain was able to sell more bonds than expected but at higher yields, leaving mixed impressions among investors... COMPANY NEWS: Bank of America (BAC) posted Q1 adjusted results that beat consensus, but shares declined 1.68% to $8.77. Among other Dow components, Verizon (VZ) and Travelers (TRV) also reported earnings that exceeded expectations and both saw their shares rise following the reports, with Verizon gaining 1.30% to $38.15 and Travellers advancing 3.75% to $61.70. Du Pont (DD) was the fourth Dow name to beat on earnings, but shares fell 1.24% to $52.61... Meanwhile, data analysis software company Splunk (SPLK) and luxury luggage and briefcase maker Tumi Holdings (TUMI) both surged after debuting their IPOs on the Nasdaq. Splunk shares priced at $17 and ended the day at $35.48, while Tumi priced at $18 and closed at $26.50… MAJOR MOVERS: Among the notable gainers were Human Genome Sciences (HGSI), up $7, or 97.63%, to $14.17, after saying it had turned down an unsolicited $13 per share, or approximately $2.6B, buyout proposal from GlaxoSmithKline (GSK), and eBay (EBAY), up $4.75, or 13.24%, to $40.62, as the company’s sales and profits beat analyst estimates, led by growth in its PayPal online payments business. Noteworthy losers included Gentex (GNTX), down $4.07, or 16.01%, to $21.35, after its top-line miss continued to reinforce investor fears over slowing growth, and Achillion (ACHN), down $1.20, or 12.63%, to $8.30, with the decline attributed by Wells Fargo to positive data for Gilead's (GILD) oral hepatitis C combination treatment… INDICES: The Dow lost $68.65, or 0.53%, to 12,964.10; the Nasdaq fell $23.89, or 0.79%, to 3,007.56; and the S&P 500 dropped $8.22, or 0.59%, to 1,376.92.
News For BAC;VZ;TRV;DD;SPLK;TUMI;HGSI;GSK;EBAY;GNTX;GILD From The Last 14 Days
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October 14, 2014
09:14 EDTGILDJ&J sees FY14 pre-tax operating margin significantly improved vs. FY13
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08:13 EDTVZCorvex says Crown Castle, Verizon deal would 'diversify' revenues
Corvex said, "A Verizon (VZ) tower deal would diversify Crown Castle's (CCI) revenues and deepen the company's relationship with arguably the U.S.'s strongest wireless company and operator of the country's most robust network. As the largest and most-focused U.S. tower operator and the largest operator of legacy carrier portfolios, Crown Castle could be the best strategic acquirer of Verizon's tower assets. That does not mean the company will be best positioned financially to provide the highest and best bid though. Based on recent press articles, the potential sale price for the Verizon towers could be approximately $6B. However, we strongly believe that the company should not issue any equity at recent prices, and certainly not to acquire more tower assets at premium prices when Crown Castle continues to trade at a material discount to both transaction multiples and publicly traded peers."
06:01 EDTEBAYStocks with implied volatility below IV index mean; GPS EBAY
Stocks with implied volatility below IV index mean; eBay (EBAY) 31, Gap (GPS) 35 according to iVolatility.
05:48 EDTTUMITumi initiated with a Hold at Stifel
October 13, 2014
16:02 EDTBAC, GILDOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
12:37 EDTEBAYeBay initiated with a Sector Perform at Portales
09:56 EDTGILDBernstein biotech analyst to hold an analyst/industry conference call
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09:23 EDTSPLKHP could buy lower valuation company, says Bernstein
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08:36 EDTGILDGilead HARVONI launch should be strong, says BMO Capital
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07:56 EDTGILDGilead Harvoni pricing 'very reasonable,' says RBC Capital
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07:39 EDTGILDPharmaceutical Care Management Association to hold annual meeting
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07:19 EDTBACAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
07:12 EDTGSKOligonucleotide Therapeutics Society to hold annual meeting
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06:44 EDTBACRegulators seeking banks' auto loan data, Reuters reports
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06:12 EDTEBAYStocks with implied volatility below IV index mean; GPS EBAY
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06:04 EDTSPLKSplunk upgraded to Outperform from Market Perform at William Blair
William Blair upgraded Splunk to Outperform citing better earnings visibility and more reasonable valuation levels.
00:04 EDTBACBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
17:27 EDTGNTXBorgWarner, Delphi Automotive, Gentex look cheap, Barron's says
BorgWarner (BWA), Delphi Automotive (DLPH), Gentex (GNTX), look cheap and promising, Barron's contends in a feature article. Reference Link
17:20 EDTSPLKGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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13:03 EDTBACBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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