New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 26, 2014
16:23 EDTAUXL, RDEN, BABA, MEI, YHOO, BCS, QLTI, IRM, GPROOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory and proceeded to spend the entire session there. The early move lower had pushed the Dow to a triple digit loss about an hour into trading, but the market then spent the rest of the day trying to get back to positive territory and fell just short of doing so. ECONOMIC EVENTS: In the U.S., initial jobless claims in the third week of June came in at 312k, which was a hair above the 310K forecast. Personal income rose 0.4% in May, matching expectations, but consumer spending grew only 0.2%, missing the forecast for 0.4% growth. COMPANY NEWS: Shares of Barclays (BCS) trading in New York fell $1.16, or 7.38%, to $14.55 after New York's Attorney General announced a lawsuit against the bank arising from the operation of its dark pool and other aspects of its electronic trading division. Bloomberg, citing people with knowledge of the matter, said some money managers are telling brokers not to send orders to Barclays LX venue after NY AG Eric Schneiderman accused the venue of misleading clients about high-frequency trading... Action camera maker GoPro (GPRO) made its stock market debut and rose $7.34, or 30.58%, to close at $31.34 after its initial public offering priced at $24 per share... China's Alibaba (BABA), in which Yahoo (YHOO) holds a significant stake, confirmed it will apply for listing on the New York Stock Exchange under the symbol “BABA.” MAJOR MOVERS: Among the notable gainers was Iron Mountain (IRM), which gained $5.97, or 20.05%, to $35.74 after its board of directors approved the company’s conversion to a real estate investment trust, or REIT, following the receipt of favorable private letter rulings from the IRS. Also higher was Methode Electronics (MEI), which rose $4.66, or 14.11%, to $37.68 after its Q4 sales and its revenue outlook for the new fiscal year beat estimates. Among the noteworthy losers was Elizabeth Arden (RDEN), which fell $4.59, or 17.0%, to $22.41 after Reuters reported that South Korea's LG Household disclosed that it is no longer considering a takeover of the U.S. cosmetics company. Also lower was Auxilium (AUXL), which fell 54c, or 2.54%, to $20.69 after agreeing to merge with QLT Inc (QLTI). Auxilium shares were up more than 16% near noon but continued to move lower during the afternoon to eventually close in the red, with analysts at Brean Capital saying that the deal suggests that no company was interested in buying "old" Auxilium prior to it reaching this agreement. INDEXES: The Dow slid 21.38, or 0.13%, to 16,846.13, the Nasdaq dropped 0.71, or 0.02%, to 4,379.05, and the S&P 500 slipped 2.31, or 0.12%, to 1,957.22.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 >>
November 17, 2015
08:34 EDTBCSNAREIT to hold a conference
Subscribe for More Information
07:50 EDTBCSClearing House to hold a conference
Subscribe for More Information
November 16, 2015
16:00 EDTBABAOptions Update; November 16, 2015
Subscribe for More Information
12:49 EDTGPROStocks with call strike movement; FIT GPRO
Subscribe for More Information
11:24 EDTBCSClearing House to hold a conference
Clearing House Annual Conference is being held in New York on November 16-18.
November 15, 2015
16:17 EDTBCSLaw firm says Barclays reaches $120M settlement in LIBOR litigation
Subscribe for More Information
November 13, 2015
16:40 EDTBABAAppaloosa gives quarterly update on stakes
Subscribe for More Information
16:26 EDTBABAStocks end week lower as retail gets routed
Stocks ended the week sharply lower after weak retail earnings reports, highlighted by Macy's (M), were followed by a worse than expected government report on retail sales performance in October. MACRO NEWS: In the U.S., retail sales rose 0.1% in the month of October, versus expectations for an increase of 0.3%. When autos and gas are removed, the core reading was up 0.3%, versus expectations for a rise of 0.4%. Producer prices fell 0.4%, versus expectations for them to be up 0.2%. When food and energy are removed, the core reading was down 0.3%, versus expectations for it to be up 0.1%. Business inventories grew 0.3% in September while sales were flat compared to August. Consumer sentiment, as measured by the preliminary print from the University of Michigan survey, improved 3.1 points to 93.1 in November, which was better than the 91.5 reading that was expected. In Europe, data showed that eurozone's economy grew by just 0.3% in the third quarter, which was a slowdown from the 0.4% GDP growth recorded three months earlier and weaker than the 0.4% consensus growth forecast. In China, exports declined for a fourth straight month in October, sliding 3.6%, while imports fell for a 12th straight month, declining 16% in yuan terms. China's foreign-exchange reserves rose in October for the first time in six months, increasing to $3.53T from $3.51T at the end of September, the People's Bank of China reported. Industrial output in China rose 5.6% in October, matching March's reading as the weakest since 2008. Retail sales climbed 11% last month, beating expectations. COMPANY NEWS: Shares of retailers broadly declined following disappointing earnings reports and commentary from a number of department store operators, including Macy's, Nordstrom (JWN) and J.C. Penney (JCP). Weather was cited by a number of them, and analysts also pointed to the continued rise in competition felt by brick-and-mortar retailers from e-commerce players, mainly (AMZN)... Among earnings reporters outside of the retail sector, Viacom (VIAB) and Rackspace (RAX) rose immediately following their reports, while Cisco (CSCO), Priceline (PCLN), Hertz (HTZ), and Advance Auto Parts (AAP) fell right after their own... During the company's investor meeting, McDonald's (MCD) raised its global refranchising target to 4,000 restaurants through 2018 with a new long-term goal to become 95% franchised, announced plans to increase its dividend by 5% and said that after "robust" debate it had decided to not pursue a REIT spin-off transaction for its real estate holdings... Anheuser-Busch InBev (BUD) and SABMiller (SBMRY) came to terms on a deal to combine the companies in a transaction worth $107B. In relation to their deal, Molson Coors (TAP) agreed to purchase SABMiller's 58% stake in MillerCoors, the joint venture formed in the United States in 2008, in a deal valued at $12B. Molson Coors was the biggest winner in terms of percentage stock gains immediately following the announcements, rising over 4% on Wednesday... Mylan (MYL) jumped after the company's offer to acquire Perrigo (PRGO) failed, ending a seven-month fight between the two drugmakers. Perrigo Chief Executive Officer Joseph Papa said he was "delighted" that his company's shareholders rejected the offer and the company added that it will immediately commence its previously announced $2B share buyback program, but its shares slid in the wake of the shareholder vote... PayPal (PYPL) shares saw three straight days of losses after the Wall Street Journal reported that Apple (AAPL) is working on a mobile payments service that could compete with the firm's Venmo platform... Angie's List (ANGI) advanced after IAC/InterActiveCorp (IACI), the parent company of HomeAdvisor, made public a $8.75 per share cash buyout offer. Yelp (YELP), which also connects people with local businesses via its web-based and mobile services, also rose following the revelation of the takeout bid for Angie's List... Alibaba Group (BABA) reported blockbuster sales for the 11.11 shopping festival, better known as "Singles' Day." By the end of Wednesday in China, gross merchandise volume on Alibaba's platforms hit $14.3B, far exceeding last year's 24-hour total of $9.3B and topping the company's $11B forecast. INDEXES: The Dow lost about 3.7% to close at 17,245.24, the S&P 500 fell about 4.25% to close at 2,023.04, and the Nasdaq declined about 3.6% to close at 4,927.88.
16:00 EDTBABAOptions Update; November 13, 2015
Subscribe for More Information
09:35 EDTBABAActive equity options trading on open
Active equity options trading on open: AAPL CSCO FB BAC BABA MSFT NFLX INTC JCP AMZN C
06:33 EDTBABAAmazon, Alibaba approached Wish over possible takeover, Business Insider reports
Subscribe for More Information
November 12, 2015
18:40 EDTBCSLINN Energy to explore options for restructuring debt, Reuters says
Linn Energy (LINE) is exploring options for restructuring its debt with Barclays (BCS) as low oil and natural gas prices test its ability to service $10B of debt after next year, Reuters reports, citing people with knowledge of the matter. Reference Link
16:00 EDTBABAOptions Update; November 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.28 to 20.18. Option volume leaders: GE AAPL MNKD XOM BAC FB SUNE CSCO NFLX SYF BABA MSFT
12:40 EDTBABAAlibaba down 1% as Herb Greenberg discusses accounting concerns on CNBC
Subscribe for More Information
12:18 EDTGPROGoPro sinks below $24 IPO price, drops $1.59 to $23.50
11:21 EDTBABADeutsche, Bernstein bullish on Alibaba following Singles Day
Two research firms were upbeat on Chinese e-commerce giant Alibaba (BABA) after the company reported results from China's "Singles Day" holiday yesterday. Deutsche Bank hiked its price target on the stock to $98 from $89, while Bernstein wrote that the company's gross merchandise volume could accelerate this quarter. BACKGROUND: Alibaba reported that it generated $14.3B of gross merchandise volume on Singles Day, a 60% increase from 2014's event. ANALYST REACTION: The 60% year-over-year increase in Alibaba's Singles Day volume exceeded Deutsche Bank's outlook for a 40% increase, analyst Alan Hellawell III stated. Alibaba is benefiting from improved logistics and its monetization rate "should trend up nicely going forward," Hellawell believes. The analyst raised his estimates for the company and kept a Buy rating on the shares. It's difficult to predict Alibaba's Q3 gross merchandise volume, or GMV, based on its Singles Day sales, wrote Bernstein analyst Carlos Kirjner. However, using "reasonably conservative assumptions," it appears that Alibaba's GMV growth will accelerate in Q3. Specifically, Kirjner estimated that even if Singles Day accounts for a significantly higher percentage of the company's Q3 GMV than in 2014, its year-over-year Q3 GMV growth could reach 36%-47% this quarter, up from 28% last quarter. The analyst also believes that his previous GMV growth estimates for the company for the next two years may have been too low. He now predicts that Alibaba's GMV will increase in the high 20s-low 30s percentage range in fiscal 2016 and in the mid to high 20s in fiscal 2017. Kirjner kept a $110 price target and Outperform rating on the shares. WHAT'S NOTABLE: (JD), an online direct sales company operating in China, also announced "record-breaking" one-day results from its November 11 Singles Day sale. The 24-hour sale saw the number of orders grow by 130% and an increase in GMV of more than 140% compared to last year, the company said. PRICE ACTION: In late morning trading, Alibaba was flat at $79.82, while rose more than 4% to trade above $29 per share.
09:36 EDTBABAActive equity options trading on open
Subscribe for More Information
07:48 EDTBABAAlibaba GMV may accelerate in Q3, says Bernstein
Subscribe for More Information
06:21 EDTBABAAlibaba slows India expansion, FT reports
Subscribe for More Information
06:17 EDTBABAAlibaba price target raised to $98 from $89 at Deutsche Bank
Subscribe for More Information
1 | 2 | 3 | 4 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use