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Stock Market & Financial Investment News

News Breaks
April 16, 2014
12:47 EDTAUY, ADTN, PEP, YHOO, AEM, SBUX, ZGNX, BAC, CSX, DPS, SODAOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the earnings season picks up steam. Stocks began the session sharply higher, with the market attempting to extend the rally that began on Monday. The move upward comes in spite of the day’s housing data coming in below expectations. This afternoon, investors will be watching the Fed’s Beige Book report in hopes it provides evidence that the economy is strengthening. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fed’s Beige Book report, which includes anecdotal reports on business conditions in the various Fed districts, is due out at 2:00 pm ET. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Shares of Bank of America (BAC) were down over 2% near midday after the company reported a first quarter loss of 5c per share, which was influenced by $6B in legal charges. The $6B in litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and added reserves for other legacy mortgage-related matters, hurt the banks earnings by about 40c per share... Yahoo (YHOO) rose more than 6% after reporting first quarter profit and sales last night that beat expectations. A great deal of attention was also paid to the 66% year-over-year increase in revenue reported by Alibaba, the Chinese group of e-commerce sites in which Yahoo has a 24% stake. This morning, Wells Fargo upgraded its rating on Yahoo to Outperform from Market Perform and raised its price target range for shares to $45-$47 from $38-$40, while Jefferies assumed coverage of Yahoo and also raised its rating on the stock. MAJOR MOVERS: Among the notable gainers was SodaStream (SODA), which surged 9% after an Israeli website said that the company was in talks to sell a 10% or greater stake to a big name company such as PepsiCo (PEP), Dr Pepper Snapple (DPS), or Starbucks (SBUX). Also higher was drugmaker Zogenix (ZGNX), which gained nearly 10% after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers was Agnico Eagle Mines (AEM), which fell 7.5% after agreeing to jointly acquire Osisko Mining in partnership with Yamana Gold (AUY). Yamana shares were also down 3%. Also lower following their earnings reports were ADTRAN (ADTN), which fell nearly 6%, and CSX (CSX), which dropped about 3%. INDEXES: Near midday, the Dow was up 124.14, or 0.76%, to 16,386.70, the Nasdaq was up 37.86, or 0.94%, to 4,072.02, and the S&P 500 was up 13.52, or 0.73%, to 1,856.50.
News For BAC;YHOO;SODA;ZGNX;PEP;DPS;SBUX;ADTN;CSX;AEM;AUY From The Last 14 Days
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March 19, 2015
08:14 EDTSBUXStarbucks shares can go higher, price target to $107 at Goldman
Goldman believes Starbucks shares can move higher despite their recent run and sees upside to 2015/16 consensus estimates driven by opportunities in mobile ordering, falling coffee prices, and positive lunch data-points. The firm believes mobile ordering is a significant growth driver and said investors appear dismissive of the opportunity. Goldman reiterates its Buy rating and raised its price target to $107 from $99 on Starbucks shares.
07:43 EDTSBUXStarbucks shares will continue to outperform, says Wells Fargo
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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
17:50 EDTYHOOYahoo exits China operations, WSJ says
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17:18 EDTSBUXStarbucks confirms agreement with Tingyi Holding to expand in China
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14:30 EDTSBUXStarbucks says in pact with Tingyi Holding to expand in China
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13:30 EDTSBUXStarbucks adjusts Q2 EPS view to 32c-33c
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13:29 EDTSBUXStarbucks adjusts FY15 EPS view to $1.55-$1.57
The company revised its FY15 EPS view to $1.55-$1.57 to account for its planned 2-fo-1 stock split. Consensus $3.13 does not compare.
13:25 EDTSBUXStarbucks announces 2-for-1 stock split
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13:21 EDTSBUXStarbucks sees Q2 split adjusted EPS 32c-33c, consensus 65c
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13:19 EDTSBUXStarbucks to begin trading on split adjusted basis on April 9
Comment from Starbucks Annual Meeting of Shareholders.
13:18 EDTSBUXStarbucks reports 2-for1 stock split
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13:06 EDTSBUXStarbucks to open next Roastery location in Asia in 2016
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13:05 EDTSBUXStarbucks to unveil two complementary delivery models
In an effort to integrate service solutions that meet the “on demand” customer, Starbucks will unveil two complementary delivery models including: A strategic collaboration with Postmates, a leading on-demand delivery service, which will allow customers to order their food and beverage items via the Starbucks mobile app and receive on-demand delivery within defined areas. This rapidly growing organization – operating in 22 markets with more than 1.5M deliveries to date – brings robust logistics technology, courier-enabled delivery and quality of service expertise. This Starbucks delivery pilot will begin in Seattle in the second half of 2015; A “Green Apron” barista delivery option enabling customers within specified office-buildings to order food and beverages for convenient delivery by Starbucks baristas. Supported by its world class real-estate capabilities, this model allows Starbucks to identify targeted solutions for environments that can benefit from an integrated service model. This Starbucks delivery test will begin in New York the second half of 2015.
13:04 EDTSBUXStarbucks reaffirms goal to grow market cap to $100B
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12:58 EDTSBUXStarbucks to begin delivery services in NY, Seattle this year, WSJ reports
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11:07 EDTZGNXBroadfin Capital reports 7.0% passive stake in Zogenix
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10:31 EDTPEPPepsiCo's valuation low vs. peers, says Credit Suisse
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10:06 EDTYHOOYahoo to close Beijing R&D office, SCMP says
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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.
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