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Stock Market & Financial Investment News

News Breaks
March 1, 2013
12:31 EDTBBY, DECK, CRM, SHS, AT, FWLT, MDROn 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.
News For BBY;DECK;CRM;SHS;AT;FWLT;MDR From The Last 14 Days
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September 16, 2014
07:30 EDTFWLTFoster Wheeler unit awarded EPCm contract by Sasol
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September 15, 2014
16:32 EDTCRMSalesforce.com assumed with an Outperform at RBC Capital
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11:09 EDTBBYRadioShack rises after CFO resigns, analyst suggests Amazon should buy stores
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07:24 EDTCRMTech leaders concede need to address privacy, security concerns, FT says
Prominent start-up investor and Facebook (FB) director Peter Thiel said a "crescendo of concern is building up in Europe" about the U.S. tech industry's record on online privacy and security, which Silicon Valley is underestimating "badly,” though Google (GOOG) chairman Eric Schmidt tech companies "are way sensitive" to the concerns, reported Financial Times. The same report noted that Brad Smith, general counsel of Microsoft (MSFT), said some in the industry have "underestimated the degree to which people care about privacy,” while Salesforce.com (CRM) CEO Marc Benioff said consumer Internet companies have “paid a terrible price” for imposing a U.S.-centric view of their technology. Reference Link
07:02 EDTMDRMcDermott completes contract scope for Jack, St. Malo project
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06:24 EDTBBYRadioShack liquidation could lift Best Buy comps, says Deutsche Bank
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06:23 EDTCRMCisco says Salesforce.com CEO Benioff to step down from board
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September 12, 2014
13:24 EDTFWLTFoster Wheeler tells employees AMEC changes not being implemented until 2015
Foster Wheeler CEO J. Kent Masters told employees in a letter that the new organizational structure that will be integrated with its recent acquisition of AMEC will not be implemented until 2015. The deal between Foster and AMEC is expected to complete in Q4.
08:36 EDTFWLTFoster Wheeler comments om AMEC acquisition
Foster Wheeler issued an internal announcement to its employees to provide an update regarding the company’s pending acquisition by AMEC, which was previously announced on a Current Report on Form 8-K filed on February 13. A copy of the internal announcement is attached as Exhibit 99.01 to this Current Report on Form 8-K and is incorporated herein by reference. The internal announcement contains statements intended as “forward-looking statements” that are subject to the cautionary statements about forward-looking statements set forth below in this Form 8-K. The pending exchange offer by AMEC to acquire all of Foster Wheeler’s issued and to be issued registered shares has not commenced. At the time the Offer is commenced, AMEC will file a registration statement on Form F-4 and a Tender Offer statement on Schedule TO and the company will file a Recommendation Statement on Schedule 14D-9 with respect to the Offer. These documents will contain important information about the Offer that should be read carefully before any decision is made with respect to the Offer. These materials will be made available to the shareholders of the company at no expense to them.
September 11, 2014
07:13 EDTBBYSome retailers wary of Apple Pay platform, Reuters says
Apple (AAPL) Pay's success is dependent on incorporating more large retailers such as Wal-Mart (WMT) and Best Buy (BBY) into the service, but both retailers recently ceased accepting payments using NFC terminals, according to Reuters, citing comments from Best Buy spokesman Jeff Shelman. Shelman said, "At this point we have no plans to accept Apple Pay." Reference Link
September 10, 2014
05:38 EDTCRMSalesforce.com signs agreement to establish data center in France
Salesforce.com (CRM) announced that it has signed an agreement to establish a new European Data Centre in France, selecting Interxion (INXN) as its service provider. The new data centre in France is one of three planned for Europe and will support the company's growing base of customers across the region. Salesforce.com's European Data Centre in France will be powered 100% by renewable energy sources.
September 9, 2014
11:30 EDTCRMSalesforce.com issues security alert on Dyre malware
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08:59 EDTMDRDA Davidson's construction analyst holds an analyst/industry conference call
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07:32 EDTFWLTFoster Wheeler unit awarded contract from Al-Toukhi
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September 8, 2014
08:10 EDTCRMSalesforce.com allocates $100M to venture capital fund for app builders
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06:21 EDTBBYSmartwatch market to reach $10B by 2018, says Citigroup
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September 5, 2014
07:17 EDTCRMSalesforce.com management to meet with UBS
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September 3, 2014
17:49 EDTDECKDeckers Outdoor CEO sold 40K shares for $3.71M, Barron's says
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13:03 EDTCRMConcur advances after report says acquisition being explored
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September 2, 2014
06:34 EDTBBYApple cuts iPad mini prices as non-Apple vendors may follow, DigiTimes says
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