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Stock Market & Financial Investment News

News Breaks
April 3, 2014
12:10 EDTRPM, AMRS, BKS, VVUS, C, LQDT, LMCAOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory, with the Dow notching a new all-time high, but had slid into negative ground at midday. The Nasdaq is the biggest loser, as it is down more than 0.6%, while the Dow and Nasdaq are just slightly below the flat line. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 326K in the week ended March 29, versus the expected 319K claims. The trade deficit widened to $42.3B in February from a revised $39.3B deficit in January. ISM's non-manufacturing PMI rose 1.5 points to 53.1 in March, though that was a bit below the 53.5 forecast of economists. In Europe, the ECB maintained its current rates despite the ongoing debate over disinflationary forces posing an increasing risk. In Asia, China's State Council announced a stimulus package for new railways and subways, low-income housing and tax breaks for small business, but most of the measures were part of the government's previously communicated annual economic work plan. COMPANY NEWS: Shares of Barnes & Noble (BKS) are declining after Liberty Media (LMCA) announced a deal to reduce its stake in the bookseller. Liberty said it has sold the majority of its shares to institutional buyers and will retain approximately 10% of its initial investment, which has been reported to equate to a roughly 2% stake in Barnes & Noble. B&N Chairman Leonard Riggio said that Libertyís reduced ownership gives the company greater flexibility to pursue various strategic options, but shares of B&N slid 13% following the announcement... Citigroup (C) shares fell almost 2% after The New York Times said the federal government has started a criminal investigation into alleged fraud involving Citi's Banamex unit in Mexico. Also of note, research firm Sterne Agee downgraded the stock to Neutral, citing the Fed's refusal to approve the bank's capital plan, along with its slowing earnings growth and lack of catalysts, as reasons for the downgrade. MAJOR MOVERS: Among the notable gainers was Amyris (AMRS), which rose 8% after announcing that it is entering into a strain engineering research and development agreement with chemical giant BASF (BASFY). Also higher was chemical, paint, and coating maker RPM (RPM), which gained 4% and hit a fresh 52-week high earlier in the session after the company raised its fiscal 2014 profit outlook. Among the noteworthy losers was Liquidity Services (LQDT), which slid another 12% after the company confirmed it's withdrawal from auction bidding for a U.S. Department of Defense contract and said it will need to reset its adjusted earnings expectations. Also lower were shares of weight-loss drug maker VIVUS (VVUS), which fell nearly 8% following a downgrade to Underweight at Piper Jaffray. INDEXES: Near midday, the Dow was down 16.31, or 0.1%, to 16,556.69, the Nasdaq was down 26.65, or 0.62%, to 4,249.81, and the S&P 500 was down 3.48, or 0.18%, to 1,887.42.
News For BKS;LMCA;C;AMRS;LQDT;VVUS;RPM From The Last 14 Days
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April 13, 2015
09:01 EDTRPMRPM2 Group acquires Morrells Woodfinishes
RPM International announced that its RPM2 Group has acquired Morrells Woodfinishes. Based outside of Manchester, Morrells has annual net sales of approximately $33M and nearly 150 employees. The company will remain a stand-alone operation within RPM2's Wood Finishes Group. Terms of the transaction, which is expected to be accretive to earnings within one year, were not disclosed.
08:13 EDTBKSBarnes & Noble initiated with a Buy at Craig-Hallum
Target $36.
07:22 EDTLMCAWave of media M&A may be on the way, WSJ says
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07:12 EDTLMCALiberty Media management to meet with UBS
Meeting to be held in Paris on April 13 hosted by UBS.
April 10, 2015
06:11 EDTCCiti's head of franchise risk and strategy to retire, WSJ reports
Citigroup's head of franchise risk and strategy, Brian Leach, will retire as of April 30, The Wall Street Journal reports, citing memos from Leach and Citigroup CEO Michael Corbat. Mark Carawan, the bank's audit head, John Davidson, the bank's compliance head, and Chef Risk Offiver Brad Hu, will now report directly to Corbat. Reference Link
April 9, 2015
19:39 EDTCCiti weighs return to Cuba, Reuters says
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17:08 EDTCCiti head of Franchise Risk and Strategy, Brian Leach, to retire on April 30
Brian Leach, Citiís Head of Franchise Risk and Strategy, has submitted a notice of retirement to Citi. The effective date of the retirement is April 30.
16:07 EDTAMRSAmyris files $200M mixed securities shelf
09:08 EDTAMRSAmyris, Squalan in pact for Neossance personal care products
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07:35 EDTCFitch Ratings to hold a webcast
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06:57 EDTCCitibank sued by Argentina over deal with creditors, Reuters reports
Citibank Argentina has been sued by Argentina over what it says is an illegal deal with a group of creditors in conflict with the government over unpaid debt, Reuters reports. Citigroup says it is "disappointed" by Argentina's legal actions and has denied violating laws. Reference Link
April 8, 2015
16:01 EDTCActionable Options for Wednesday, April, 8
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07:39 EDTRPMRPM expects consumer segment to benefit from innovation, growth in Q4
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07:37 EDTRPMRPM sees FY15 EPS in upper end of $2.25-$2.30 guidance, consensus $2.27
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07:37 EDTRPMRPM reports Q3 adjusted EPS 20c, consensus 14c
Reports Q3 revenue $946.4M, consensus $936.67M
April 7, 2015
16:00 EDTCOptions Update; April 7, 2015
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15:30 EDTRPMNotable companies reporting before tomorrow's open
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11:02 EDTCAmerican Express slips after analyst, columnist highlight challenges
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07:16 EDTCRising competition may make AmEx targets hard to achieve, WSJ says
Though American Express recently reaffirmed its long-term targets for growing revenue 8% per year or better and earnings per share by 12%-15% per year while increasing operating expenses by less than 3% per year, there are good reasons to be skeptical about its ability to hit those targets, according to The Wall Street Journal's "Heard on the Street" column. Competition from peer Visa (V) as well as big banks such as Citi (C) and Bank of America (BAC) may put pressure on AmExís margins and it is not safe to assume that the company will always fare as well on the Fed's stress tests as it just did, the report stated. Reference Link
April 6, 2015
19:33 EDTCRegulators enter headquarters of Citibank Argentina, Reuters says
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