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Stock Market & Financial Investment News

News Breaks
March 1, 2013
12:31 EDTFWLT, CRM, AT, DECK, MDR, SHS, BBYOn The Fly: Midday Wrap
Stocks on Wall Street were up at midday despite "the Sequestor" taking effect at home and disappointing manufacturing data from abroad. The averages dipped right at the opening bell but were not down for long, almost immediately beginning to climb off their opening lows. The recovery was attributed by some to a rumor that an agreement had been reached on averting the Sequester. However, when the rumor went unfounded and President Obama held a press conference to discuss the challenging road ahead toward replacing the cuts, the averages weakened again, before gathering and resuming their upward momentum... ECONOMIC EVENTS: In the U.S., reports showed that personal income fell 3.6% during the month of January, versus expectations of a decline of 2.4%, though personal spending rose 0.2%, which was in line with forecasts. The final Markit PMI reading for February was revised down to 54.3 from a 55.2 prior figure. The University of Michigan Consumer Confidence reading was 77.6, versus the expected reading of 76.3. Construction spending fell 2.1% in the month of January, versus expectations for an increase of 0.4%. The ISM Manufacturing reading was 54.2, versus the expected 52.5, and prices paid reading was 61.5, versus the expected 57.0. In Europe, Markit's final Eurozone manufacturing PMI for February came in at 47.9, with downturns seen in all member nations aside from Germany and Ireland. Also, the unemployment rate in the 17-member single-currency region rose to a record 11.9% in January from 11.8% in December. In China, the official Purchasing Managersí Index was 50.1 in February, the weakest in five months and down from 50.4 in January. A separate gauge from HSBC dropped to a four-month low of 50.4 from 52.3 in the prior month... COMPANY NEWS: The deadline for Best Buy's (BBY) founder, Richard Schulze, to make an offer to take the company private passed without a bid being made, but the company's stock managed to rise modestly following its report of better than expected sales and adjusted profit during the holiday quarter. Schulze stated in a regulatory filing that he facilitated various offers that would have resulted in private equity investments into the company but the proposals were rejected and that the company now "deserves a chance to implement its own plan." Best Buy shares jumped at the open, but moved lower during the morning, and were up about 1% near midday... MAJOR MOVERS: Among the notable gainers following their earnings reports were Deckers Outdoor (DECK), up 14%, and Salesforce.com (CRM), up over 7%. Also higher were shares of Sauer-Danfoss (SHS), which rose 8.5% after it announced that Danfoss would acquire the 24.4% of the common shares it does not already own for $58.50 per share in cash. Among the noteworthy losers was Atlantic Power (AT), down 29%, after its quarterly report disappointed and the company cut its dividend. Also lower after earnings reports were Foster Wheeler (FWLT), down 16%, and McDermott (MDR), down over 13%... INDICES: Near noon, the Dow was up 12.57, or 0.09%, to 14,067.06; the Nasdaq was up 2.49, or 0.08%, to 3,162.68; and the S&P 500 was up 1.55, or 0.10%, to 1,516.23.
News For BBY;DECK;CRM;SHS;AT;FWLT;MDR From The Last 14 Days
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December 17, 2014
10:23 EDTDECKDeckers Outdoor UGG sales likely to lead to Q3 beat, says Sterne Agee
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08:19 EDTCRMSalesforce.com announces launch of Salesforce Files Connect
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December 16, 2014
13:19 EDTCRMResearch firm sees Amazon spinning off AWS in 2015, CNBC reports
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December 15, 2014
07:33 EDTCRMSusquehanna to hold a tour
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December 12, 2014
06:36 EDTCRMSalesforce.com resumed with an Overweight at Piper Jaffray
Price target lowered to $64 from $74.
December 10, 2014
13:10 EDTCRMSalesforce.com management to meet with FBR Capital
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10:53 EDTCRMSalesforce.com calls active on activist investor speculation
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10:05 EDTCRMRumor: Salesforce.com moves up on activist investor speculation
08:08 EDTBBYBest Buy field checks show good November, says Jefferies
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December 9, 2014
06:00 EDTCRMSalesforce.com names YouTube CEO Susan Wojcicki to board
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December 8, 2014
07:28 EDTCRMFBN Securities to hold a bus tour
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December 5, 2014
08:11 EDTDECKDeckers Outdoor well positioned for strong Q3 finish, says Canaccord
Canaccord believes Deckers Outdoor is well positioned for a strong Q3 finish, as its low quarter-to-date order cancellation rate bodes well for the company. The firm sees its weatherized boot category selling well, which supports the firm's belief that sales of Uggs are tracking ahead do guidance. Canaccord reiterated its Buy rating and $108 price target on Deckers Outdoor shares.
December 4, 2014
07:51 EDTDECKDeckers Outdoor shares going to $130, says Jefferies
Jefferies predicts shares of Deckers Outdoor are going to $130 after hosting investor meetings with management. The firm says management was "very upbeat" regarding the start of the holiday season. Jefferies thinks next year's UGG offerings will continue to drive positive momentum in 2015. It reiterates a Buy rating on Deckers with a $130 price target. Shares of the UGG maker rose 68c yesterday to $96.54.
05:32 EDTBBYBest Buy to sell Five Star business in China
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December 3, 2014
20:03 EDTCRMSalesforce.com increases investments in Japan
Salesforce announced new investments in Japan. The company announced plans for a second data center in Japan to support customer growth in Japan and Asia Pacific. Salesforce will disclose details on the opening of its second data center in the first half of 2015. Salesforce Ventures, the company's corporate venture arm, announced it has completed 20 investments in Japanese technology firms with new investments in ABEJA and WEIC.
12:42 EDTDECKSodaStream mentioned positively again by Tilson in Seeking Alpha post
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07:55 EDTDECKDeckers Outdoor UGG products look strong, says Wells Fargo
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