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Stock Market & Financial Investment News

News Breaks
April 10, 2012
16:19 EDTOPTR, DHR, DB, SNE, VPHM, XRIT, STD, BBY, JAG, BCS, UNCFFOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower, with the Dow falling over 200 points for the session. Equity futures were quiet in the pre-market trading session leading to a relatively flat open for the broader market. The averages picked up momentum to the downside following the wholesale inventories report for the month of February. The selling picked up in earnest around midday, with the averages eventually tacking on losses of more than 1.5%. The buyers may have been sitting on the sideline waiting to see how the earnings season begins tonight when Alcoa (AA) reports... ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index fell to 92.5 in March. Wholesale inventories rose 0.9% in February, versus analysts' expectations for an increase of 0.5%. In China, an unexpected $5.35B trade surplus was reported for March, as imports rose 5.3% and exports increased 8.9% from a year ago. In Europe, the yield on Spanish 10-year bonds rose to nearly 6% despite the government's plans for additional budget cuts and local media reports in Italy pointed toward its government cutting its 2012 growth forecasts... COMPANY NEWS: Best Buy (BBY) said it came to "a mutual agreement" with CEO Brian Dunn that new leadership was needed, prompting Dunn to resign. Shares initially spiked on the news, then reversed to close down $1.33, or 5.87%, to $21.32... Sony (SNE) cut its outlook for the fourth time in less than a year, more than doubling its projected annual loss to $6.4B. The warning sent its stock tumbling $1.86, or 9.25%, to $18.24... Shares of a number of European banks fell with fears about the debt crisis in Europe coming back to the forefront. Unicredit (UNCFF) sank 6.82%, Banco Santander (STD) dropped 3.85%, Deutsche Bank (DB) declined 3.29%, and Barclays (BCS) slid 5.31%... MAJOR MOVERS: Among the notable gainers were X-Rite Incorporated (XRIT), up $1.54, or 38.50%, to $5.54, on news Danaher (DHR) will acquire the company for $5.55 per share, and Jaguar Mining (JAG), up 57c, or 14.11%, to $4.61, on speculation of a takeover bid after shares of China Shandong Gold, which had previously tried to buy the miner, were halted for trading overseas. Noteworthy losers included ViroPharma (VPHM), down $6.17, or 21.57%, to $22.44, after the FTC opened an investigation into the company and several competitors launched generic versions of its Vancocin drug, and Optimer Pharmaceuticals (OPTR), down $1.37, or 9.99%, to $12.35, following a warning that Q1 revenue will miss consensus... INDICES: The Dow fell 213.66, or 1.65%, to 12,715.93; the Nasdaq dropped 55.86, or 1.83%, to 2,991.22; and the S&P 500 lost 23.61, or 1.71%, to 1,358.59.
News For BBY;SNE;UNCFF;STD;DB;BCS;XRIT;DHR;JAG;VPHM;OPTR From The Last 14 Days
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March 23, 2015
06:00 EDTSNESony to reduce TV, smartphone orders to Taiwan partners, DigiTimes reports
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March 22, 2015
18:14 EDTDBDeutsche Bank revamp to impact retail operations, Reuters says
The planned restructuring by Deutsche Bank will have the most impact on the bank's retail operations, says Reuters. According to sources, the bank's retail operations will "bear the brunt" of the revamp and will most likely be spun off in a stock market listing, added Reuters. Reference Link
17:51 EDTDBLawsky targets Deutsche Bank in Libor probe, FT says
According to people familiar with the matter, New York state's financial services regulator Benjamin Lawsky has joined other regulators investigating Deutsche Bank for manipulation of the Libor benchmark borrowing rate, says the Financial Times. Reference Link
March 20, 2015
07:17 EDTDBDeutsche Bank investors pushing for Postbank sale, Financial Times says
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06:36 EDTSNEWeb TV companies ask internet providers for special treatment, WSJ says
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06:06 EDTSNESony Mobile expected to reach revised smartphone shipment target, DigiTimes says
Sony Mobile said its Q4 smartphone shipments increased 20.2% sequentially to 11.9M units, reports DigiTimes. According to Taiwan-based hanset component suppliers, Sony Mobile is expected ship over 8M smartphones in the first calendar quarter of 2015, allowing the vendor to reach its revised target of 39.2M units for FY14. Reference Link
March 18, 2015
12:09 EDTSNESony announces launch of PlayStation Vue in New York, Chicago, Philadelphia
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07:27 EDTBCSFreeport seeks funding from Blackstone, Apollo, Reuters says
Freeport McMoRan (FCX) has hired Goldman Sachs (GS) and Barclays (BCS) to find private equity firms willing to finance certain of its energy projects and asset developments, reports Reuters, citing people familiar with the matter. Freeport is in talks with Blackstone (BX), Apollo (APO), and Warburg Pincus about a potential partnership. The sources say the firm may be seeking "several billion dollars," though discussions are in "very early" stages. Reference Link
07:20 EDTBCSU.S. considers 'tearing up' non-prosecution deals with banks, Bloomberg says
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March 17, 2015
14:37 EDTBCSCiti, Barclays near $800M settelement of forex suit, WSJ says
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11:23 EDTSNEApple willing to share TV data to attract programming partners, NY Post reports
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10:59 EDTBBYBest Buy calls active on activist investor speculation
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10:54 EDTBBYRumor: Best Buy moves up on activist investor speculation
Shares of Best Buy are moving higher amid speculation Carl Icahn may have acquired a stake in the company.
09:05 EDTBBYMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
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09:03 EDTSNEElectronic Arts, Visceral Games announce availability of Battlefield Hardline
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05:55 EDTSNEVAIO expected to become strong competitor to Sony smartphones, DigiTimes says
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March 16, 2015
14:08 EDTBCS, DBEU regulator says time for fine-tuning, Reuters says
The Basel Committee on Banking Supervision believes the necessary bank regulatory framework is in place though some additional work must be done to finalize leverage ratio and capital floor rules, Reuters reported yesterday, citing statements by secretary-general William Coen at a financial conference in Doha. Coen added, "We're now at the state where we can take a step back and look to see how [the regulations] fit together," cautioning that further analysis must be data-driven but admitting that both banks and regulatory bodies were feeling "regulation fatigue." Publicly traded companies in the space include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
09:30 EDTDBConsortium wants to securitize $5.3B of debt from GE Capital, Reuters says
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March 15, 2015
19:12 EDTSNEDisney's 'Cinderella' takes top spot at domestic weekend box office with $70.1M
Rentrak (RENT) announced the official domestic weekend box office estimates for the weekend of March 15, as compiled by the company's theatrical measurement services. Disney's (DIS) "Cinderella" took the top spot at the domestic weekend box office with $70.1M: Warner Bros' (TWX) "Run All Night" took the second spot at the box office with $11M; 20th Century Fox's (FOX, FOXA) "Kingsman: The Secret Service" took third with $6.2M; Warner Bros' "Focus" took the fourth spot at the box office with $5.8M and Sony's (SNE) "Chappie" took fifth place with $5.8M.
12:41 EDTDBGE sells Australia-New Zealand consumer lending unit to consortium
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