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Stock Market & Financial Investment News

News Breaks
April 16, 2014
12:47 EDTBAC, AEM, CSX, ADTN, SBUX, DPS, PEP, ZGNX, SODA, YHOO, AUYOn 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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October 7, 2014
09:24 EDTYHOOFormer Yahoo CFO says AOL merger makes 'little sense,' CNBC reports
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09:14 EDTSODAOn The Fly: Pre-market Movers
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08:08 EDTSODASodaStream down 13% in pre market trade after Q3 revenue warning
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07:56 EDTSODASodaStream trading to resume at 8:00 am ET
07:54 EDTSODASodaStream volatility expected to move on preliminary Q3 revenue miss
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07:32 EDTSODASodaStream CEO: We are disappointed in our recent performance
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07:31 EDTSODASodaStream reports Q3 preliminary revenue $125M, consensus $154.12M
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07:28 EDTBACWells Fargo ups price target ranges for capital markets banks
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07:11 EDTSODASodaStream trading halted, pending news
06:51 EDTBACJustice Department set to attack more large banks by year end, NY Times says
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06:49 EDTBACBNP seeks assistance from banks as ban approaches, Reuters says
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06:16 EDTAUYYamana Gold upgraded to Neutral from Underweight at HSBC
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October 6, 2014
13:18 EDTYHOOYahoo confirms compromised servers
In an email to cyber security expert Jonathan Hall, Yahoo confirmed that Hall had discovered the process that a group of Romanian hackers used to infiltrate the website. Hall had also found the hackers' methods for their breach of the websites of WinZip and Lycos. The email written by Yahoo's Ricky Connell who is involved with the company's paranoids, threat response, intelligence said, "We've found the tracks mentioned in your email and are working through our IR process." Reference Link
12:34 EDTYHOOYahoo confirms breach, says hack didn't disclose customer data, Bloomberg says
Bloomberg cites an emailed statement from Yahoo about a breach of its servers related to the "shellshock" bug.
09:37 EDTBACActive equity options trading on open
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08:14 EDTAUYYamana Gold signs MOU with Government of Catamarca
Yamana Gold announced the signing of a Memorandum of Understanding, or MOU, with the provincial Government of Catamarca, Argentina, represented by the provincial mining company Catamarca Mineria y Energetica Sociedad del Estado, with respect to the creation of the Catamarca Mining District. This agreement sets the groundwork for the company and the Government to work together to consolidate important mining projects and prospective properties in the province, currently consisting of the Agua Rica property and the Cerro Atajo prospect. The MOU also considers the future participation of mining companies like Yacimientos Mineros Agua de Dionisio, or YMAD, as well as permitting and significant infrastructure support on the part of the Government. This agreement is one of the first of its kind in Argentina and is indicative of government support at the national level and, as importantly, in Catamarca for the development of Agua Rica and more generally for mining and mining investments in Catamarca.
07:29 EDTBACHead of NYDFS reaching out to banks in wake of JPMorgan breach, FT says
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06:37 EDTYHOOYahoo planning big brand marketing push, AdAge says
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06:27 EDTBACJPMorgan hackers hit about nine other firms, NY Times says
The group of hackers that infiltrated JPMorgan (JPM) also penetrated about nine other financial institutions, according to The New York Times. Washington intelligence officials and policy makers are much more concerned about the attacks than they have disclosed, the newspaper added. Other publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded cybersecurity companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).Reference Link
06:08 EDTYHOOYahoo in talks to invest in Snapchat, WSJ reports
Yahoo (YHOO) is reportedly in talks to invest in Snapchat, the Wall Street Journal reported on Friday. The deal discussions come on the heels of Alibabaís (BABA) IPO, the Journal says. According to sources, Yahoo has committed to an investment in Snapchat at a $10B valuation, and one source says Yahoo could invest around $20M. Reference Link
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