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Stock Market & Financial Investment News

News Breaks
December 26, 2012
07:23 EDTACH, BCS, AA, MSAluminum glut won't slow price increases, Bloomberg reports
The record glut in aluminum will not slow a rise in prices because of delays in getting metal from warehouses, even as Barclays (BCS) advises investors to sell and Morgan Stanley (MS) says it has the worst outlook of any commodity, reports Bloomberg. Stockpiles will expand for at least the next four quarters, reaching a record 8.67M metric tons by the end of 2013, Barclays estimates. The bank added that production will exceed demand by the most since 2009 as output expands from China to Saudi Arabia. Futures will increase as much as 16% to $2,400 a ton in 2013, according to the median of 29 analyst estimates compiled by Bloomberg. The gains are forecast as the metal is not always available. Reference Link
News For BCS;MS;AA;ACH From The Last 14 Days
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July 23, 2015
10:00 EDTBCSBarclays in talks to sell Portuguese banking unit, Bloomberg reports
Barclays is in advanced discussions with a Spanish bidder to sell its Portuguese banking unit, Bloomberg reports, citing people with knowledge of the plan. The sale would exclude Barclays' Portuguese credit-card business, the report says. Interested parties may include Bankinter, the report says. Reference Link
09:06 EDTAAAlcoa announces realignment of downstream portfolio
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09:02 EDTAAAlcoa completes acquisition of RTI International
Alcoa (AA) announced that it has completed the acquisition of RTI International Metals (RTI). The merger, announced on March 9, became effective today. Under the terms of the merger agreement, each share of RTI common stock has been converted into the right to receive 2.8315 shares of Alcoa common stock, plus an amount of cash in lieu of fractional shares of Alcoa common stock. Alcoa expects RTI to contribute $1.2 billion in revenue in 2019, up from $794 million that RTI generated in 2014, with 65 percent of revenues supported by contracts over the next five years. RTI’s profitability is expected to reach 25 percent EBITDA margin in 2019. Contracts that underpin RTI’s growth include the recently announced contract with Airbus for finished titanium structural supply parts for the new A350-1000 aircraft program. Under the agreement, Alcoa will supply titanium parts for the fuselage, among other components. Alcoa expects global aerospace sales growth of 8 to 9 percent in 2015. Projections for 2016 and 2017 sales growth have nearly doubled to 8 and 13 percent, from 4 to 5 percent and 6 percent, respectively, showing the ongoing strength of the sector. Eighty percent of RTI’s revenues in 2014 were from the aerospace and defense industries. With RTI, Alcoa’s 2014 pro forma aerospace revenue increases by 13 percent to $5.6 billion. RTI is being integrated as a standalone business unit into Alcoa’s downstream Engineered Products and Solutions segment.
08:37 EDTBCSBarclays announces strategic partnership with Elkhorn Capital
Barclays announced a strategic partnership with Illinois-based investment firm Elkhorn Capital Group. The partnership is designed to extend Barclays’ product availability by bringing together its extensive experience in creating distinctive investment concepts with Elkhorn’s independent product expertise. The partnership will allow Barclays and Elkhorn to collaborate in offering clients access to additional products based on Barclays’ strategies.
July 22, 2015
06:15 EDTBCSBarclays close to SFO settlement over Qatar bribes, Daily Mail reports
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July 21, 2015
08:49 EDTMSMorgan Stanley price target raised to $46 from $40 at BMO Capital
BMO Capital raised its price target on Morgan Stanley after the company reported higher than expected core Q2 EPS. The firm says that all of the company's segments delivered results that beat expectations. The firm raised its annual EPS estimates for the company by 2% and keeps an Outperform rating on the shares.
06:08 EDTBCSU.K. watchdog visited Barclays 186 times in 2014, Bloomberg reports
The FCA's supervisory team made 186 visits to Barclays (BCS) in 2014, more than any other British bank that year, Bloomberg reports. HSBC (HSBC) was next highest with 85 visits, with RBS (RBS) and Lloyds (LYG) following with 65 and 58 encounters, respectively, the report says. Reference Link
06:07 EDTMSONUG: Yahoo hires VP of global network from Symantec
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July 20, 2015
13:03 EDTMSFed proposes final rule on capital surcharges for largest U.S. banks
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12:08 EDTMSOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday in the first trading day of a week that will be light on domestic economic data but heavy on earnings reports. Investors will be receiving profit reports from about 25% of the companies on the S&P 500 this week, making this the highest volume earnings week of this season. ECONOMIC EVENTS: In the U.S., no major data was released. In Europe, Greece reopened its banks three weeks after closing as the country worked out another bailout agreement. The country announced it has started the process of paying off its creditors, including the European Central Bank and the International Monetary Fund, with a bridge loan it just received. COMPANY NEWS: Lockheed Martin (LMT) agreed to buy the Sikorsky Aircraft business from United Technologies (UTX) for $9B, noting the price is "effectively reduced" to $7.1B after taking into account tax benefits resulting from the transaction. Shares of Lockheed, which also reported better than expected second quarter results and increased its fiscal year guidance, gained nearly 2% after the Sikorsky announcement and saying it will conduct a strategic review of its government IT infrastructure services business and technical services business... Shares of Morgan Stanley (MS) shares were little changed near noon after the bank reported earnings and revenue, excluding certain adjustments, that topped analysts' consensus forecasts... SunEdison (SUNE) announced a deal to acquire Vivint Solar (VSLR) for approximately $2.2B, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. In connection with the proposed acquisition of Vivint Solar, SunEdison has entered into a definitive purchase agreement with a subsidiary of TerraForm Power (TERP) which, concurrently with the completion of SunEdison's acquisition of Vivint, will acquire Vivint Solar's rooftop solar portfolio, consisting of 523 MW expected to be installed by year-end 2015, for $922M in cash. Shares of Vivint rose 44% following the announcement, while SunEdison's stock gained 4% and TerraForm dropped 3%. Fellow residential solar installer SolarCity (SCTY), which is backed by Tesla's (TSLA) Elon Musk, rose 7% following the deal in the space. MAJOR MOVERS: Among the notable gainers was Exelixis (EXEL), which rallied 43% after the company reported that a study of cabozantinib in metastatic renal cell carcinoma met its primary endpoint of significant improvement in progression-free survival. The shares were indicated to rise even more in early pre-market trading, but lost some of their gains after Bristol-Myers (BMY) announced that its Opdivo study was stopped early after showing superior overall survival in a Phase 3 study of previously treated patients with advanced or metastatic renal cell carcinoma. Bristol-Myers rose a bit less than 1% to trade near $70 per share after its own announcement. Also higher was PayPal (PYPL), which gained more than 5.5% in its first day of trading after being spun out of eBay (EBAY). Meanwhile, eBay shares rose over 2%. Cal-Maine Foods (CALM) dropped 8% after posting lower than expected sales and profits in its fourth quarter and warning that while it should have an adequate supply of its primary feed ingredients, the company expects that prices will be "volatile" in the year ahead. Also lower were shares of several gold miners, including Barrick Gold (ABX) and Newmont Mining (NEM), which each fell about 11%, as gold prices declined about 2% near midday. INDEXES: Near midday, the Dow was up 31.66, or 0.18%, to 18,118.11, the Nasdaq was up 9.81, or 0.19%, to 5,219.96, and the S&P 500 was up 2.82, or 0.13%, to 2,129.46.
09:22 EDTMSOn The Fly: Pre-market Movers
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08:47 EDTMSMorgan Stanley CFO: Retail investor activity yet to increase from subdued levels
Morgan Stanley CFO Jonathan Pruzan said the firm's view on Wealth Management remains positive as the recovery plays out in the U.S., with growth expected to come from its bank strategy and fee-based program. "We continue to see softness in transactional revenues, which were down 8% compared to last quarter as retail investor activity has yet to increase from subdued levels," Pruzan added.
08:43 EDTMSMorgan Stanley CEO says firm should benefit from being overweight U.S.
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07:10 EDTMSMorgan Stanley rises 3.8% to $41.75 in pre-market after Q2 earnings beat
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07:05 EDTMSMorgan Stanley reports tangible book value per common share $29.54
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07:04 EDTMSMorgan Stanley reports Q2 Wealth Management net revenues $3.9B
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07:01 EDTMSMorgan Stanley reports Q2 EPS ex DVA 79c, consensus 74c
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06:24 EDTBCSBarclays has no new target for layoffs, Reuters reports
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July 19, 2015
19:12 EDTMSFederal Reserve proposes changes to 'stress test' regulations
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17:32 EDTBCSBarclays to cut 30,000 jobs in two years, The Times says
Barclays plan to cut 30,000 jobs within two years as it considers accelerating its cost-cutting program, reports The Times, citing senior sources. Reference Link
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