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Stock Market & Financial Investment News

News Breaks
January 22, 2014
10:45 EDTBP, APC, MU, AAPL, CMG, GMBP, Anadarko advance after Einhorn discloses stakes
Shares of BP (BP) and Anadarko (APC), which produce oil and gas, are climbing after David Einhorn's Greenlight Capital disclosed that it had obtained stakes in both companies. WHAT'S NEW: Greenlight Capital, a hedge fund founded by well-known investor David Einhorn, accumulated "medium size" stakes in BP and Anadarko last quarter, Einhorn wrote in a letter to investors dated January 21. Anadarko's stock is cheap compared with its peers, he contended. Noting that the company is involved in a legal battle stemming from its 2006 acquisition of oil and gas assets from Kerr-McGee, Einhorn predicted that Anadarko will have to pay $5 billion in penalties related to the case, rather than the maximum potential damages of $14 billion. As for BP, Einhorn contends that the company is worth $70 per share. As a result, it can create significant value by selling some of its assets and using the proceeds to buy back some of its own stock, he believes. BP has been taking this approach, and the market should begin to appreciate the company more as its legal issues subside, Einhorn wrote. WHAT'S NOTABLE: Greenlight also added a large position in flash memory maker Micron (MU), Einhorn reported. The hedge fund maintained long positions in Apple (AAPL), GM (GM), and Marvell (MRVL), and short positions in Chipotle (CMG) and US Steel (X), Einhorn indicated. PRICE ACTION: In mid-morning trading, BP added about 1.1% to trade near $49, while Anadarko advanced 2.75% to $83.42.
News For BP;APC;MU;AAPL;CMG;GM From The Last 14 Days
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October 14, 2014
07:24 EDTAAPLApple price target raised to $110 from $96 at Credit Suisse
Credit Suisse raised Apple's price target to $110 and materially raised estimates to reflect new iPhone forecasts. The firm maintains its Neutral rating based on limited upside.
06:37 EDTAAPLUMC lands 28nm LTE chip orders from Qualcomm, DigiTimes reports
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06:36 EDTAAPL'Double Irish' tax arrangement poised to halt, itnews says
Ireland is positioned to enact legal revisions soon that will slowly cease its "Double Irish" tax agreement, which has allowed companies like Google (GOOG) and Apple (AAPL) to not spend billions of dollars worth of taxes, according to itnews, citing, two sources familiar with the situation. Reference Link
06:30 EDTAAPLApple expected to show new iPads at Thursday's event, Re/code says
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06:30 EDTAAPLSolvay, Apple allegedly enter supply agreement, Bloomberg says
Solvay (SVYZY) and Apple (AAPL) have supposedly entered a supply agreement in which the Belgium chemical company will supply a type of high-performance plastic for iPhone 6 devices, according to Bloomberg, citing two people with knowledge of the situation. Reference Link
06:20 EDTGMGeneral Motors downgraded to Buy from Conviction Buy at Goldman
Goldman removed General Motors from the Conviction Buy List and lowered estimates to to cuts in North American and European production and a difficult pricing environment. The firm maintains its Buy rating and views risk/reward as favorable and expects reasonably strong comps over then next two quarters. Price target lowered to $47 from $48.
October 13, 2014
16:02 EDTAAPLOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
12:10 EDTGMGM lawyer says 27 people eligible for ignition switch compensation, AP reports
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11:23 EDTAPCStocks with call strike movement; APC TSO
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09:39 EDTAAPLActive equity options trading on open
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08:31 EDTAAPLApple says iPhone 6, 6 Plus to arrive in 36 more countries this month
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06:44 EDTGMRegulators seeking banks' auto loan data, Reuters reports
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06:41 EDTAAPLWalgreens to roll out Apple Pay on October 18, MacRumors reports
Walgreens (WAG) will begin rolling out Apple Pay (AAPL) on Saturday, October 18, according to a memo obtained by MacRumors. Reference Link
06:36 EDTBPSaudi Arabia content to let oil prices stay low, Reuters reports
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06:05 EDTAAPLReport: Apple iPhone 6 pre-orders in China reach 20M, Digitimes says
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06:03 EDTMUStocks with implied volatility above IV index mean; HTZ MU
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October 12, 2014
17:58 EDTMUMicron shares look more attractive, Barron's says
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17:21 EDTGMTesla ahead of other car makers on semiautonomous driving system, WSJ says
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13:53 EDTBPKuwaiti Minister says OPEC unlikely to cut production, WSJ says
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13:45 EDTBPSaudis take aggressive oil measures in Europe, WSJ says
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