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Stock Market & Financial Investment News

News Breaks
April 16, 2014
12:47 EDTCSX, DPS, SODA, AUY, ADTN, PEP, YHOO, AEM, SBUX, ZGNX, BACOn 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 dayís housing data coming in below expectations. This afternoon, investors will be watching the Fedís 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 Fedís 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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February 19, 2015
14:38 EDTYHOOYahoo says now has 575M monthly active app users
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14:22 EDTYHOOYahoo says now has access to 1.6B devices through Flurry
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13:57 EDTYHOOYahoo now third largest mobile ad company with 2014 mobile revenue of $1.2B
Comment was made by Yahoo CEO Marissa Mayer at the Yahoo Mobile Developer Conference.
11:23 EDTSBUXStarbucks management to meet with Jefferies
Meeting to be held in San Francisco on February 25 hosted by Jefferies.
06:47 EDTBACReport shows subprime consumer loans at pre-2007 levels, WSJ says
Equifax (EFX) has released a report stating nearly 40%, or 50M, of auto loans, credit cards, and personal loans during the first 11 months of 2014 were made to subprime customers, the highest levels since the 2007 financial crisis, reports the Wall Street Journal. LendingTree (TREE) Chief Marketing Officer Gabriel Dalporto attributes the growth to nonbank lenders under less regulatory scrutiny than large banks. 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
February 18, 2015
12:17 EDTSBUXStarbucks management to meet with Piper Jaffray
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10:05 EDTAEMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Agnico Eagle (AEM) upgraded to Overweight from Neutral at JPMorgan... Amarin (AMRN) upgraded to Buy from Neutral at SunTrust... Capital Product (CPLP) upgraded to Accumulate from Neutral at Global Hunter... Carlyle Group (CG) upgraded to Buy from Neutral at Citigroup... Danone (DANOY) upgraded to Neutral from Underperform at Exane BNP Paribas... Express (EXPR) upgraded on lower promotional activity at Piper Jaffray... Kforce (KFRC) upgraded to Outperform from Market Perform at Avondale... Legg Mason (LM) upgraded to Buy from Hold at Jefferies... Rackspace (RAX) upgraded following Q4 results at Pacific Crest... Rosetta Resources (ROSE) upgraded to Buy from Neutral at Global Hunter... SeaChange (SEAC) upgraded to Buy from Hold at Noble Financial... Valero (VLO) upgraded to Outperform from Neutral at Credit Suisse... Veeco (VECO) upgraded to Buy from Hold at Noble Financial... Wolverine World Wide (WWW) upgraded to Neutral from Underperform at Sterne Agee.
08:37 EDTAUYYamana Gold introduces dividend reinvestment plan
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07:21 EDTBACJPMorgan, Citi top government report of riskiest banks, Reuters reports
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07:07 EDTCSXBarclays to hold a conference
Industrial Select Conference is being held in Miami on February 18-19.
06:48 EDTAEMAgnico Eagle upgraded to Overweight from Neutral at JPMorgan
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February 17, 2015
18:02 EDTCSXDerailed train that exploded in West Virginia had modern tanker cars, WSJ says
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17:02 EDTYHOOSoros Fund Management gives quarterly update on stakes
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13:14 EDTSBUXStarbucks announces launch of coffee delivery service
Starbucks announced the launch of its fresh delivery subscription service. It stated, "Available in monthly increments, Starbucks Reserve Roastery Subscriptions will allow customers access to unique, small-lot coffees only available at the Roastery or through the subscription. Designed to provide the highest quality coffee immediately after roasting, these fresh delivery subscriptions ensure customers receive their coffee within three to five days of being roasted, depending on location in the U.S." A one month subscription costs $24 while an annual subscription costs $288.
10:26 EDTBACBank of America reports January default rate 2.93% vs. 3.13% last month
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08:59 EDTCSXCSX confirms response to West Virginia train derailment
CSX announced that teams were working with first responders on the derailment of an oil train near Mount Carbon, West Virginia. The train consisted of two locomotives and 109 rail cars and was traveling from North Dakota to Yorktown, Va. One person was being treated for potential inhalation, but no other injuries were reported. "At least one rail car appears to have ruptured and caught fire. The derailment has resulted in the precautionary evacuation of nearby communities, and precautionary suspension of operations at the Cedar Grove and Montgomery water treatment plants. CSX is working with the Red Cross and other relief organizations to address residentsí needs, taking into account winter storm conditions. These efforts include shelters for residents who have been evacuated. CSX teams also are working with first responders to address the fire, to determine how many rail cars derailed, and to deploy environmental protective measures and monitoring on land, air and in the nearby Kanawha River. The company also is working with public officials and investigative agencies to address their needs," the company said.
08:11 EDTYHOOSplunk says Yahoo selects Hunk for Hadoop analytics platform
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07:15 EDTPEPConsumer Analyst Group of New York (CAGNY) to hold a conference
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05:31 EDTADTNADTRAN receives extension of TL 9000 certification in R&D facility
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February 15, 2015
15:35 EDTCSXWest coast ports closed to cargo vessels for weekend, Reuters says
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