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Stock Market & Financial Investment News

News Breaks
December 5, 2012
06:06 EDTBIG, LMT, C, WFC, BAC, MS, USB, JPM, GS, BAOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: The SEC launched an investigation into a $10M stock sale by Big Lots (BIG) CEO Steven Fishman before the company announced news that sank its stock, sources say, the Wall Street Journal reports...U.S. crude-oil production reached its highest level in nearly 15 years in September, thanks in large part to the drilling method known as hydraulic fracturing, said the U.S. Energy Information Administration. Daily production averaged about 6.5M barrels, an increase of 16%, or about 900,000 barrels, over September 2011, the Wall Street Journal reports...REUTERS: The Federal Reserve is set to announce a new round of Treasury bond purchases when it meets next week, avoiding monetary policy tightening to maintain support for the weak U.S. economy amid uncertainty over the looming year-end "fiscal cliff," Reuters reports...The Pentagon approved a plan that will allow the U.S. Air Force to buy up to 36 rocket launches for government satellites from a joint venture of Lockheed Martin (LMT) and Boeing (BA), while opening up to 14 launches to competition from other companies, Reuters reports...BLOOMBERG: The SECís move to sanction auditors for blocking investigations at China-based companies, have set a course that jeopardizes the listing of more than 100 stocks from China, Bloomberg reports...Paulson & Co.ís John Paulson, manager of $20B in hedge funds, told investors that the bulk of his losses this year came on bets that the European sovereign-debt crisis would worsen, sources say, Bloomberg reports.
News For BIG;GS;JPM;USB;MS;BAC;WFC;C;LMT;BA From The Last 14 Days
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October 8, 2014
08:07 EDTLMTExelis awarded follow-on contract for Lockheed Martin's JASSM
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08:06 EDTCAstoria Financial appoints Hugh J. Donlon as Chief Lending Officer
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07:20 EDTWFC, MSCapital Link to hold a forum
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07:13 EDTGS, BAC, MS, JPM, C, WFCBank dealers agree to revised derivatives rules, FT reports
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06:56 EDTGS, WFC, JPM, MSBarclays lists several Large-Cap banks with the most Q3 upside
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06:35 EDTGSGoldman Sachs' outlook questioned, NY Times says
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October 7, 2014
15:13 EDTBAEarnings Preview: Alcoa sees Q3 EPS to 'continue to build on strong Q2'
Alcoa (AA) is scheduled to report third quarter earnings after the close on Wednesday, October 8, with a conference call scheduled for 5:00 pm ET. Alcoa is a global manufacturer of aluminum products. EXPECTATIONS: Analysts are looking for earnings per share of 23c on revenue of $5.85B, according to First Call. The consensus range for EPS is 15c-28c on revenue of $5.62B-$6.07B. LAST QUARTER: Alcoa reported second quarter adjusted EPS of 18c against estimates for 12c on revenue of $5.8B against estimates for $5.66B. The company reiterated its 2014 global aluminum demand growth view of 7%, and backed its 2014 global aerospace growth outlook of 8%-9%. It raised its 2014 estimate for the North America commercial transportation market to 10%-14%, from a previous range of 5%-9%. The higher estimate was based in part on rising truck orders and backlogs. CEO Klaus Kleinfeld said the company's transformation was in "high gear." He noted that aerospace business is a tailwind due to strong demand for commercial aircraft, and said the company is well-positioned to capture upside from recent investments. On Alcoa's Q2 earnings conference call, management said during the quarter the company witnessed revenue growth across all major end markets and the businesses continued to deliver productivity gains. They expect Q3 earnings per share to "continue to build on the strong second quarter." ATOI is expected to grow by 5%-10% over last year's third quarter due to continued share gains, stronger market conditions and productivity. Productivity gains are expected to offset cost increases in Q3. For 2014, productivity is ahead of schedule with $556M of productivity gains achieved in first half 2014 against the annual target of $850M. On September 11, Alcoa signed a multi-year supply contract with Boeing (BA) valued at over $1B. STREET RESEARCH: Street research has been overwhelmingly positive in the weeks leading up to Alcoa's Q3 earnings report. On July 9, three firms, Stifel, JP Morgan, and Argus raised their respective price targets on Alcoa. On September 30, BofA/Merrill upgraded Alcoa to Buy from Neutral with a price target of $18. The firm was more positive on the outlook for aluminum and raised Alcoa's 2015 EPS estimate to $1.05 and EBITDA to $4.1B vs. consensus of 85c and $3.8B. BofA said plant closures, better demand, and falling pension costs were catalysts. PRICE ACTION: Alcoa shares have rallied approximately 8% over the past three months, touching a 52-week high of $17.36 in September. Over the past twelve months, the stock is up about 100%. In early afternoon trading ahead of tomorrow's Q3 report, Alcoa shares are down fractionally.
11:35 EDTJPMStocks with call strike movement; JPM QCOM
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11:01 EDTLMTLockheed Martin signs exclusive agreement with European Aviation
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10:02 EDTUSBOn The Fly: Analyst Downgrade Summary
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09:36 EDTBACActive equity options trading on open
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09:17 EDTGS, JPM, MSSecurities Industry & Financial Markets Association to hold a conference
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08:28 EDTCCitigroup October volatility increases into Q3 and revenue outlook
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08:01 EDTBABoeing says cannot plan for 'armageddon' of Ex-Im bank closure, Bloomberg says
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07:29 EDTJPMJPMorgan Chase volatility increases into Q3 and guidance
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07:28 EDTMS, BAC, JPM, GS, CWells Fargo ups price target ranges for capital markets banks
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07:06 EDTUSBU.S. Bancorp downgraded to Market Perform from Strong Buy at Raymond James
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06:51 EDTUSB, MS, C, BAC, JPM, WFC, GSJustice Department set to attack more large banks by year end, NY Times says
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06:49 EDTJPM, C, BACBNP seeks assistance from banks as ban approaches, Reuters says
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05:29 EDTBABoeing forecasts world air cargo traffic to double in next 20 years
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