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Stock Market & Financial Investment News

News Breaks
May 15, 2014
11:56 EDTBCS, AOL, CATBarclays trading mistake said to spark U.S. stock swings, Bloomberg says
A trading inaccuracy at Barclays (BCS) sparked split-second swings in many U.S. stocks including AOL (AOL) and Caterpillar (CAT), according to Bloomberg, citing people familiar with the matter. The sources said that the firm moved the prices of some shares two days ago after orders linked to the close of trading were imprecisely entered. One source said that Barclays customers were not affected monetarily by the mistake. Reference Link
News For BCS;AOL;CAT From The Last 14 Days
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July 22, 2014
07:31 EDTBCSSenate Homeland Security & Government Affairs Committee to hold a hearing
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07:16 EDTBCSBarclays plunges from 2nd to 12th in U.S. dark pool ranks after suit, FT says
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July 21, 2014
16:52 EDTAOLGoogle ranked as top U.S. search marketplace in June
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13:15 EDTAOLGoogle ranked as top online video content property in June
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09:22 EDTCATCaterpillar confident in chances in tax suit, WSJ says
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08:11 EDTBCSWarnings sounded over Barclays dark pool months before NY AG, WSJ says
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07:41 EDTCATWhistleblowers allege bogus repairs by Caterpillar unit, WSJ says
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July 20, 2014
11:58 EDTCATCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link
July 18, 2014
11:21 EDTBCSBritish antitrust regulator to investigate country's banks, NY Times reports
The U.K.'s antitrust authorities said they expected to open a formal investigation into Britain's retail banking industry, reports the New York Times. The regulators cited barriers to competition that include control of a national network of branches by four large banks that control more than three-quarters of the market. Reference Link
July 16, 2014
12:47 EDTAOLYahoo falls after results disappoint, details additional plans for Alibaba stake
Shares of media and search engine company Yahoo (YHOO) are falling after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. WHAT'S NEW: Last night, Yahoo reported Q2 earnings per share of 37c and revenue ex-tac of $1.04B, narrowly missing analysts' consensus estimates of 38c and $1.08B, respectively. The company's Q2 display ad revenue fell 7% to $394M, while Q2 price per ad fell 24% versus last year. Q2 search revenue ex-tac increased 6% to $428M. Yahoo said that in Q2, the number of ads sold increased approximately 24% compared to last year, while the number of paid clicks increased approximately 3%. Price-per-click increased 15% compared to last year. Marissa Mayer, Yahoo's Chief Executive Officer, said that as the company's top priority is revenue growth, it is "not satisfied" with Q2 results. Mayer noted that several areas showed strength in the quarter, including Yahoo Search, which grew 6% year-over-year on a revenue ex-tac basis, but their growth was offset by declines. Meyer says the company needs to "work faster to ameliorate" negative trends in display. Mayer says the company "can and will do better" going forward. WHAT'S NOTABLE: Looking ahead, Yahoo forecast third quarter revenue ex-tac of $1.02B-$1.06B, below the consensus of $1.1B. The company also guided Q3 adjusted earnings before interest, taxes, depreciation and amortization, or EBTIDA, at $220M-$260M and non-GAAP operating income of $70M-$110M. Yahoo also noted that it will lower the number of shares it sells in the Alibaba IPO to 140M from 208M, and is committed to return at least half of the after-tax IPO proceeds to shareholders. Mayer noted on the company's earnings conference call that "A transformation of this size will take several years," adding that "it will take a little longer than originally forecasted." ANALYST REACTION: This morning, research firm CRT Capital downgraded Yahoo to Fair Value from Buy, citing mixed Q2 earnings and weak guidance. The firm sees pressure on ad pricing continuing for at at least two to three quarters. Another firm, Bernstein, lowered their price target on Yahoo to $40 from $43 following the company's weaker than expected results and said that it would return 50% of its proceeds from the Alibaba IPO to shareholders. The firm thinks there is an increased risk that Yahoo will use the other 50% on M&A, and Bernstein sees high risk that the M&A will destroy value. Bernstein kept an Outperform rating on the stock. Piper Jaffray said Yahoo should be owned ahead of the Alibaba IPO, noting its agreement with Alibaba to reduce the number of shares it will sell at the IPO should outweigh the "unsurprising" challenges in the company's core business. The firm, which kept an Overweight rating on the stock, expects the stock to react positively on the Q2 earnings report. PRICE ACTION: In early afternoon trading, Yahoo fell $1.66, or about 4.7%, to $33.95 on heavy trading volume. Despite today's pull back, the stock is up approximately 25% over the past 12 months. OTHERS TO WATCH: Yahoo peer AOL (AOL) is down over 4.% to $38.98. Jackie Reses, Yahoo's chief of mergers and acquisitions, said at the Fortune Brainstorm Tech Conference that the company is not planning to buy AOL, Re/code reported this morning. Mayer previously told a number of people that she does not "get" the merger.
08:42 EDTAOLAOL's Adap.tv granted patent for system tying consumer sales to TV ads
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06:03 EDTAOLYahoo M&A chief says company not planning to buy AOL, Re/code reports
Yahoo (YHOO) is not planning to buy AOL (AOL), Yahoo M&A chief Jackie Reses commented at the Fortune Brainstorm Tech conference, Re/code reports. When asked whether she thought AOL would be acquired in the next two years, Reses said "Not by us." Reference Link
July 14, 2014
08:40 EDTAOLYahoo, AOL unlikely to be plotting merger at Sun Valley conference, Re/code says
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07:43 EDTCATGE far ahead of Caterpillar in race for cleaner diesel train, WSJ says
Caterpillar (CAT) has fallen far behind in the race to offer a locomotive that meets stricter emission standards taking effect next year, with its Electro-Motive Diesel unit stating that its freight trains probably won't be available until 2017, while General Electric (GE) is already testing trains that comply with the new rules, reported The Wall Street Journal. Reference Link
07:13 EDTBCSDark pool investigation ups pressure on Barclays head, Reuters says
Barclays head Antony Jenkins is up one of biggest tests of his leadership when he chooses whether the firm should fight accusations that it deceived and defrauded U.S. clients, reported Reuters. If Jenkins accepts the allegations, he will have to deal with a problem arising from his promise to jettison any business that does not fit into the firm's new unblemished image. Reference Link
July 11, 2014
15:47 EDTBCSBarclays index unit could sell for close to $1B, Reuters reports
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11:17 EDTAOLHigh option volume stocks
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11:16 EDTAOLAOL, Yahoo CEOs have late-night talk, WSJ reports
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07:30 EDTBCSBarclays to re-purpose cashiers with more customer-focused role, FT says
Barclays plans to have its 6,500 cashiers change their positions away from processing simple transactions and turning more toward giving customers advice, said Financial Times, which noted that the bank will give those employees an automatic 2.8% annual pay raise from October. Reference Link
06:48 EDTBCSBank of England says banks' capital requirement could rise, Reuters reports
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