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Stock Market & Financial Investment News

News For C;AAPL;GS;LNG From The Last 14 Days
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May 21, 2015
07:13 EDTAAPLApple showing substantial issue with iCloud services, 9to5Mac reports
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06:43 EDTAAPLTSMC to manufacture fingerprint sensors for next iPhone, DigiTimes reports
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05:52 EDTAAPLTesla batteries may surpass $1B in sales faster than iPhone, Economic Times says
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05:41 EDTAAPLUber poaches new legal counsel Sabrina Ross from Apple, Re/code reports
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05:38 EDTAAPLApple Pay may launch in Europe sooner than expected, BGR reports
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May 20, 2015
19:54 EDTAAPLApple streaming music service coming first to Russia, Billboard says
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16:26 EDTCOn The Fly: Top stock stories for Wednesday
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16:00 EDTC, AAPLOptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
12:33 EDTCOn The Fly: Top stock stories at midday
Stocks began the session relatively unchanged from yesterday’s close and continue to trade in a holding pattern as investors await the release of the minutes from the Federal Reserve's last FOMC meeting. ECONOMIC EVENTS: In the U.S., EIA inventory data showed a 2.67M barrel fall in crude stocks, versus expectations for a 1.75M barrel decrease. The Federal Reserve is scheduled to release the minutes from its last rate setting meeting at 2 pm EDT. In Asia, Japan's GDP accelerated to a 2.4% growth pace in the first quarter, which was much better than expected. Japanese stock markets rallied on the news, sending the Nikkei 225 average to its best level in 15 years. COMPANY NEWS: Five of the world's largest banks - Citi (C), JPMorgan Chase (JPM), Barclays (BCS), The Royal Bank of Scotland (RBS) and UBS (UBS) - agreed to pay more than $5B and plead guilty to felony charges related to manipulating foreign currencies and interest rates. In conjunction with previously announced settlements with regulatory agencies in the United States and abroad, today’s resolutions bring the total fines and penalties paid by these five banks for their conduct in the foreign exchange spot market to nearly $9B, the Department of Justice stated... Target (TGT) shares advanced 1% after the retailer's first quarter earnings topped expectations and it raised the low-end of its fiscal year profit forecast. Brian Cornell, chairman and CEO of Target, said the company was pleased with its first quarter traffic and sales, particularly in its signature categories, which drove better-than-expected profitability through improved gross margin and continued expense management. MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), which rallied 53% after the company announced that, following meetings with the FDA, it would submit its eteplirsen drug to the FDA for approval on a rolling basis, with various components of the application being submitted separately. Eteplirsen is a treatment for Duchenne muscular dystrophy, or DMD. Also higher was Pep Boys (PBY), which gained 14% after The Wall Street Journal said private equity firm Golden Gate Capital and other potential suitors have expressed interest recently in buying the company. Among the noteworthy losers was Etsy (ETSY), which operates an online marketplace to buy and sell handmade items and vintage goods. The stock, which priced its IPO at $16 and opened for trading at $31 per share, dropped 22% to trade near $16.50 after the company issued its first financial report since coming public in April. Also lower were shares of several airline stocks, led by Southwest (LUV), which was down 8% near noon. In a regulatory filing last night, Southwest indicated it expects FY15 capacity growth to increase 7%-8% and to grow another 6%-7% in FY16. Buckingham downgraded Southwest to Neutral from Buy this morning, stating it has a more cautious revenue outlook for the company due to a worsening backdrop as competitors vow to compete aggressively. INDEXES: Near midday, the Dow was down 6.10, or 0.03%, to 18,306.29, the Nasdaq was up 1.65, or 0.03%, to 5,071.69, and the S&P 500 was down 0.49, or 0.02%, to 2,127.34.
10:15 EDTCFive banks agree to parent-level guilty pleas in settlement over forex rigging
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10:09 EDTCCiti, JPMorgan, RBS, Barclays, UBS agreed to guilty pleas in forex settlement
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10:05 EDTCCiti announces ForEx settlements with Department of Justice, Federal Reserve
Citi announced that it has entered into settlements with the United States Department of Justice and the Board of Governors of the Federal Reserve System to resolve investigations into Citi’s foreign exchange business. The settlement with the DOJ includes a guilty plea by Citicorp, a subsidiary of Citigroup, to a violation of the Sherman Antitrust Act and fine of $925M. The settlement with the Fed includes the entry of a cease and desist order and a civil money penalty of $342M. Citi also announced that it has reached a separate agreement to settle related private U.S. class action claims for a payment of $394M, subject to court approval. Citi expects to maintain its licenses and does not expect a material impact on its operations or ability to serve its clients. The payments required by each of the settlements Citi announced today are covered by existing legal reserves and will not require a charge to earnings in the second quarter of 2015.
10:05 EDTCCiti announces ForEx settlements with Department of Justice, Federal Reserve
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09:36 EDTAAPLActive equity options trading on open
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08:21 EDTC, GSATM data theft soars to highest rate in two decades, WSJ says
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06:25 EDTAAPLSamsung could release next Galaxy Note phone as early as July, BI reports
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May 19, 2015
16:23 EDTAAPLOn The Fly: Top stock stories for Tuesday
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16:01 EDTAAPLOptions Update; May 19, 2015
iPath S&P 500 VIX Short-Term Futures down 27c to 19.17. Option volume leaders: AAPL BAC WMT MSFT FB TWTR MNKD NFLX T PBR
15:42 EDTCBanks' settlement over forex rigging to be announced tomorrow, CNBC says
Several banks are said to plan to plead guilty and pay "billions" in fines in a settlement over their roles in foreign exchange manipulation that is expected to be announced Wednesday, according to CNBC's Kate Kelly. Prior media reports have listed Barclays (BCS), Royal Bank of Scotland (RBS), UBS (UBS), JPMorgan (JPM) and Citigroup (C) as having been in talks with U.K. and U.S. authorities for their roles in foreign currency rigging.
13:52 EDTAAPLPiper Jaffray says shelving television plans won't hurt Apple shares
Following a report by The Wall Street Journal that Apple (AAPL) shelved its television set plans "more than a year ago," Piper Jaffray issued a research note updating its view on the company. WHAT'S NEW: Prior to the market open, The Wall Street Journal released an article stating that, according to people familiar with the matter, Apple has "quietly shelved" its plans to develop a high-definition television set. The company experimented with video calls and 4K resolution as it searched for a justification to enter the TV market, but ultimately decided to instead focus on an online television service and a redesigned Apple TV device. Following the release of that article, Piper Jaffray analyst Gene Munster issued a note reconciling its long-held hope for an Apple television set with the Wall Street Journal's cancellation news. Later in the afternoon, Carl Icahn appeared on CNBC to respond to his recent open letter claiming that Apple was significantly undervalued, partly because of expectations for an Apple television set by 2016. In the CNBC interview, Icahn claimed the Wall Street Journal's article is contradictory, but maintained that the purpose of his letter was to spur additional stock repurchases by Apple. WHAT'S NOTABLE: Piper Jaffray said it believes there will be "no sustained impact" to Apple shares on the news because most analysts did not have definite expectations for a television. The firm believes that Apple will continue to develop its Apple TV set top box and possibly incorporate HomeKit, Siri, and an app store into the next model of the device. However, Piper did reiterate its belief that Apple will somehow move into the living room, citing statements by CEO Tim Cook calling the TV viewing experience "broken." The firm believes Apple is "actively" developing virtual and augmented reality products, though it cautions that a product launch could be five years away, if not more. Piper concluded with a reminder that its television expectations were not built into its model for Apple, and reiterated its Overweight rating and $162 price target. PRICE ACTION: Apple has advanced fractionally during the trading session, rising 0.35% to $130.65 at time of writing.
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