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Stock Market & Financial Investment News

News Breaks
March 28, 2014
12:16 EDTPCG, RH, BBRY, IDRA, CBSO, RHT, CBSOn 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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May 15, 2015
10:34 EDTBBRYOptions with increasing implied volatility
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May 13, 2015
13:15 EDTBBRYInquirer discusses recent Apple for BlackBerry takeover rumors
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07:40 EDTPCGHouse Energy & Commerce Committee to hold a hearing
The Energy & Power Subcommittee holds a hearing entitled, "Discussion Drafts Addressing Hydropower Regulatory Modernization and FERC Process Coordination under the Natural Gas Act" with Vice President Livingston of Pacific Gas & Electric and Director Miles of FERC on May 13 at 10 am. Webcast Link
07:21 EDTRHTCredit Suisse to hold a conference
4th Annual Disruptive Technology Conference is being held in San Francisco on May 13-14 with webcasted company presentations to begin on May 13 at 10:35 am; not all company presentations may be webcasted. Webcast Link
May 12, 2015
09:14 EDTCBSApps World to hold a conference
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08:31 EDTCBSApple likely to launch TV video service this year, says Pacific Crest
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07:45 EDTRHTJefferies to hold a conference
2015 Global Technology, Media and Telecom Conference is being held in Miami on May 12-14.
07:06 EDTCBSCBS management to meet with UBS
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06:41 EDTCBSTV networks touting digital, targeting technologies to marketers, NY Times says
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05:58 EDTBBRYStocks with implied volatility movement; MNKD BBRY
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May 11, 2015
10:18 EDTBBRYBlackBerry calls active on renewed takeover chatter
Blackberry May calls are active 13K contracts (1K puts) on renewed takeover speculation. May call option implied volatility is at 39, June is at 58, August is at 44; compared to its 90-day average of 48 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
10:11 EDTBBRYRumor: BlackBerry moves up on renewed takeover chatter
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07:38 EDTIDRAIdera Pharmaceuticals reports Q1 EPS (12c), consensus (11c)
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06:33 EDTCBSTV networks worried amid tough competition from digital outlets, NY Times says
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May 10, 2015
18:05 EDTCBSFCC contract ruling may speed review of AT&T-DirecTV merger, WSJ says
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12:54 EDTPCGDuke, Edison, other utilities could return 8% annually, Barron's says
Shares of Duke Energy (DUK), Southern Company (SO), Consolidated Edison (ED), Edison International (EIX), PG&E (PCG), American Electric (AEP), Dominion (D), and NextEra Energy (NEE) could return 8% or more annually in coming years, Barron's contends in a feature article. Though utilities are sometimes seen as no-growth businesses, Barron's argues that infrastructure replacement projects, rate hikes, and dividend boosts make the sector look attractive. Reference Link
May 8, 2015
10:51 EDTCBSCBS CEO Moonves sees price, volume growth on TV ad upfronts
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06:05 EDTBBRYBlackBerry implied volatility of 38 at lower end of index mean range
06:04 EDTCBSCBS, Viacom controlling shareholder: 'No set plan' on succession, NYP says
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06:01 EDTCBSStocks with implied volatility above IV index mean; TRIP CBS
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