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Stock Market & Financial Investment News

News Breaks
March 28, 2014
12:16 EDTIDRA, CBSO, RHT, CBS, PCG, RH, BBRYOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the market looks to finish a relatively down week on an up note. The Nasdaq average, which has been down after all but one session this week, is reversing the trend and leading the other averages near noon. ECONOMIC EVENTS: In the U.S., personal income and consumer spending both rose 0.3% in February, matching expectations. The core PCE price index rose 0.1% in the month, which was also in-line with estimates. The final University of Michigan consumer sentiment reading for March came in at 80.0, which was down from February's 81.6 reading and a bit below expectations. In Europe, an index of executive and consumer sentiment rose to 102.4 in March from 101.2 in February, beating the consensus estimate of economists. COMPANY NEWS: Shares of beleaguered smartphone maker BlackBerry (BBRY) initially advanced after the company reported quarterly losses that were not as bad as analysts expected, excluding certain adjustments. BlackBerry said about 3.4M of its smartphones were sold through to end customers in the quarter, which included about 2.3M BlackBerry 7 devices. The company also said it continues to look for opportunities to streamline operations and is targeting break even cash flow results by the end of fiscal 2015. By midday the stock had given up all its early session gains to be down about 2%... CBS (CBS) rose more than 1% after the successful initial public offering of its outdoor advertising subsidiary CBS Outdoor Americas (CBSO). After the offering, CBS owns approximately 83% of CBS Outdoor, which plans to convert into a real estate investment trust later this year. The IPO priced at $28.00 per share and the new stock began trading at $30.10 in its debut this morning. MAJOR MOVERS: Among the notable gainers was home furnishing retailer Restoration Hardware (RH), which rose 12% after the company’s first quarter profit view beat estimates. Also higher were shares of Idera Pharmaceuticals (IDRA), which rose 11% after the company's Phase 2 trial of its treatment for moderate-to-severe plaque psoriasis met its primary objective. Among the noteworthy losers was PG&E Corporation (PCG), which dropped 4% after reporting that they expect that the federal government will bring criminal charges against the utility in connection with the 2010 San Bruno natural gas transmission pipeline accident. Following the announcement the stock was downgraded this morning at Deutsche Bank and Citigroup. Also lower was open source software provider Red Hat (RHT), which fell over 4% after the company’s profit outlook trailed analysts’ consensus estimate. INDEXES: Near midday, the Dow was up 124.94, or 0.77%, to 16,389.17, the Nasdaq was up 40.21, or 0.97%, to 4,191.44, and the S&P 500 was up 15.11, or 0.82%, to 1,864.15.
News For BBRY;CBS;CBSO;RH;RHT;IDRA;PCG From The Last 14 Days
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April 27, 2015
12:37 EDTBBRYBlackBerry CEO says expanding apps availability on phone
BlackBerry CEO is speaking on a CNBC interview.
06:05 EDTBBRYBlackBerry implied volatility of 37 at lower end of index mean range
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April 24, 2015
16:14 EDTBBRYBlackBerry considers shutting down Sweden operations, WSJ reports
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April 23, 2015
14:25 EDTBBRYBlackBerry shares jump after MobileIron cuts Q1 revenue outlook
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08:31 EDTRHTRed Hat management to meet with JPMorgan
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07:05 EDTRHTRed Hat to hold a webinar
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April 22, 2015
10:02 EDTPCGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Alcoa (AA) initiated with a Neutral at Cleveland Research... American Electric (AEP) initiated with a Neutral at Guggenheim... American Water (AWK) initiated with a Buy at Guggenheim... Anadarko (APC) initiated with a Buy at Nomura... Apache (APA) initiated with a Reduce at Nomura... Associated Banc Corp (ASB) initiated with a Market Perform at Wells Fargo... Cabot Oil & Gas (COG) initiated with a Neutral at Nomura... Canadian Natural (CNQ) initiated with a Buy at Nomura... Cenovus Energy (CVE) initiated with a Reduce at Nomura... Chesapeake (CHK) initiated with a Reduce at Nomura... Cimarex Energy (XEC) initiated with a Neutral at Nomura... Communications Sales & Leasing (CSAL) initiated with an Overweight at Stephens... Concho Resources (CXO) initiated with a Buy at Nomura... Consolidated Edison (ED) initiated with a Neutral at Guggenheim... Continental Resources (CLR) initiated with a Buy at Nomura... DTE Energy (DTE) initiated with a Buy at Guggenheim... Denbury Resources (DNR) initiated with a Reduce at Nomura... Depomed (DEPO) initiated with an Overweight at Piper Jaffray... Devon Energy (DVN) initiated with a Neutral at Nomura... Dominion (D) initiated with a Buy at Guggenheim... Duke Energy (DUK) initiated with a Buy at Guggenheim... EOG Resources (EOG) initiated with a Buy at Nomura... Edison International (EIX) initiated with a Neutral at Guggenheim... Encana (ECA) initiated with a Buy at Nomura... Entergy (ETR) initiated with a Neutral at Guggenheim... Eversource (ES) initiated with a Buy at Guggenheim... Exelon (EXC) initiated with a Buy at Guggenheim... FirstEnergy (FE) initiated with a Neutral at Guggenheim... Great Plains Energy (GXP) initiated with a Buy at Guggenheim... Hess Corp. (HES) initiated with a Neutral at Nomura... Marathon Oil (MRO) initiated with a Buy at Nomura... Media General (MEG) initiated with a Neutral at Nomura... Medley Capital (MCC) initiated with a Buy at Janney Capital... Murphy Oil (MUR) initiated with a Neutral at Nomura... Newfield Exploration (NFX) initiated with a Buy at Nomura... Newtek Business Services (NEWT) initiated with a Neutral at Ladenburg... NextEra Energy (NEE) initiated with a Buy at Guggenheim... Noble Energy (NBL) initiated with a Reduce at Nomura... Oasis Petroleum (OAS) initiated with a Neutral at Nomura... PG&E (PCG) initiated with a Neutral at Guggenheim... PPL Corp. (PPL) initiated with a Buy at Guggenheim... PSEG (PEG) initiated with a Buy at Guggenheim... Pernix Therapeutics (PTX) initiated with an Overweight at Piper Jaffray... Pinnacle West (PNW) initiated with a Neutral at Guggenheim... Pioneer Natural (PXD) initiated with a Buy at Nomura... RSP Permian (RSPP) initiated with a Buy at Wunderlich... Range Resources (RRC) initiated with a Buy at Nomura... STMicroelectronics (STM) initiated with a Buy at Craig-Hallum... Southern Company (SO) initiated with a Neutral at Guggenheim... Southwestern Energy (SWN) initiated with a Neutral at Nomura... Starz (STRZA) initiated with a Sector Perform at FBN Securities... Stellus Capital (SCM) initiated with a Neutral at Janney Capital... Suncor (SU) initiated with a Buy at Nomura... TECO Energy (TE) initiated with a Neutral at Guggenheim... Tribune Media (TRCO) initiated with a Hold at Jefferies... Ultra Petroleum (UPL) initiated with a Neutral at Nomura... Whiting Petroleum (WLL) initiated with a Neutral at Nomura... Zogenix (ZGNX) initiated with an Overweight at Piper Jaffray... bluebird bio (BLUE) initiated with a Buy at Maxim.
06:57 EDTPCGPG&E initiated with a Neutral at Guggenheim
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05:29 EDTPCGPG&E announces participation in public-private collaboration with DOE
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April 21, 2015
09:09 EDTBBRYBlackBerry to acquire WatchDox, term not disclosed
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06:16 EDTBBRYBlackBerry could acquire WatchDox for $150M-$200M, Globes reports
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April 20, 2015
06:09 EDTPCGPG&E pipeline rupture causes 12 injuries, WSJ reports
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April 19, 2015
18:13 EDTPCGPG&E says natural gas transmission pipeline struck in Fresno
PG&E said in a press release: "Pacific Gas and Electric urges anyone doing digging projects to call 811 at least two working days in advance so that utility lines can be marked to allow for safe digging. Workers not affiliated with PG&E apparently struck a 12-inch natural gas transmission pipeline this afternoon in Fresno; no call had been placed to 811. The gas that was released by the dig-in ignited, and there were reports of injuries." The company said in a statement: “Our primary concern is always the safety of the public and our employees. Our thoughts and prayers are with those who have been injured. As we continue to investigate this incident, we remind all of our customers of the importance of calling 811 before they do any type of digging project. Digging into gas pipelines can have serious safety consequences.” PG&E responded quickly after the pipeline was struck. PG&E detected a slight change in pressure at 2:29 p.m., and was first notified about the incident at 2:36 p.m. Actions to shut off gas began before 3 p.m., and the flow of gas to the pipeline was shut at 3:20 p.m. Because of the remaining gas in the line, the flames were exhausted at 3:56 p.m.
April 17, 2015
07:11 EDTBBRYBlackBerry management to meet with UBS
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April 16, 2015
11:05 EDTCBSCBS April calls active amid subject of recent takeover chatter
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April 15, 2015
06:11 EDTBBRYBlackBerry implied volatility of 43 at lower end of index mean range
April 14, 2015
07:05 EDTIDRANeedham to hold a conference
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06:28 EDTBBRYBlackBerry implied volatility of 43 at lower end of index mean range
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April 13, 2015
07:22 EDTCBSWave of media M&A may be on the way, WSJ says
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06:02 EDTBBRYBlackBerry implied volatility of 42 at lower end of index mean range
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