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News Breaks | | | | March 1, 2013 | | 12:31 EDT |  | BBY, DECK, CRM, SHS, AT, FWLT, MDR | On 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 Managers’ 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. | |
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News For BBY;DECK;CRM;SHS;AT;FWLT;MDR From The Last 14 Days Check below for free stories on BBY;DECK;CRM;SHS;AT;FWLT;MDR the last two weeks. |
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| May 21, 2013 | | 12:36 EDT | | BBY | On The Fly: Midday Wrap
 Subscribe for More Information | | | 12:32 EDT |  | BBY | Options with decreasing implied volatility: PXP ARNA BBY OPK CSC
| | | 10:20 EDT |  | BBY | Best Buy down over 3% in volatile trading, levels to watch
Subscribe for More Information | | | 09:25 EDT |  | BBY | On The Fly: Pre-market Movers
Subscribe for More Information | | | 07:16 EDT |  | FWLT | Johnson Rice to host a conference
Subscribe for More Information | | | 07:09 EDT | | BBY | Best Buy expects investment in price competitiveness to continue into Q2
Subscribe for More Information | | | 07:07 EDT | | BBY | Best Buy reports Q1 SSS fell 1.3%
Subscribe for More Information | | | 07:03 EDT |  | BBY | Best Buy reports Q1 adjusted EPS 32c, consensus 25c
Reports Q1 revenue $9.38B, may not compare to consensus $10.64B. Reports Q1 SSS down 1.3%. | | | May 20, 2013 | | 15:22 EDT | | BBY | Notable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Home Depot (HD), consensus 77c; Medtronic (MDT), consensus $1.03; The TJX Companies (TJX), consensus 62c; AutoZone (AZO), consensus $7.23; Best Buy (BBY), consensus 25c; Dick's Sporting Goods (DKS), consensus 48c; Tidewater (TDW), consensus 61c; Saks (SKS), consensus 19c; Rexnord (RXN), consensus 31c; Monro Muffler Brake (MNRO), consensus 25c. | | | 15:05 EDT | | BBY | Best Buy May 27 weekly straddle priced for 9.1% move into Q1
Subscribe for More Information | | | | 13:21 EDT |  | CRM | Salesforce.com checks suggest strong Q1 results, says Stephens
Subscribe for More Information | | | 12:24 EDT | | BBY | Stocks with call strike movement; FSLR BBY
Subscribe for More Information | | | 11:18 EDT | | FWLT | High option volume stocks: JASO QUIK FWLT NM JAZZ
Subscribe for More Information | | | 11:08 EDT | | BBY | Best Buy May weekly volatility elevated at 117 into Q1
Subscribe for More Information | | | 09:40 EDT | | CRM | Active equity option families trading
Subscribe for More Information | | | May 17, 2013 | | 12:00 EDT | | BBY | Stocks with call strike movement; FSLR BBY
Subscribe for More Information | | | 07:10 EDT | | CRM | Salesforce.com outlook appears positive, says Oppenheimer
Subscribe for More Information | | | 06:54 EDT | | CRM | Salesforce.com May weekly volatility elevated at 73 into Q1 and outlook
Salesforce.com May weekly call option implied volatility is at 73, June is at 38, August is at 33; compared to its 26-week average of 34 according to Track Data, suggesting large near term price movement into the expected release of Q1 results after the market close on May 23. | | | May 16, 2013 | | 11:37 EDT | | BBY | Stocks with call strike movement; AMD BBY
AMD (AMD) October 4.5 call volatility increased 4% to 58, Best Buy (BBY) June 30 call option implied volatility increased 3% to 63 according to IVolatility. | | | 10:21 EDT | | BBY | Best Buy volatility elevated shares near one-year high into Q1
Best Buy May weekly call option implied volatility is at 71, June is at 61, July is at 55, September is at 51 of 50 is above its 26-week average of 59 according to Track Data, suggesting large near term price movement into the expected release of Q1 earnings on May 20. | | |
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