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Stock Market & Financial Investment News

News For C;BA;BAC;BLK;NUS;KSWS;CBS;CLSN;WSM;PWER;AB From The Last 14 Days
Check below for free stories on C;BA;BAC;BLK;NUS;KSWS;CBS;CLSN;WSM;PWER;AB the last two weeks.
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<< 1 | 2 | 3 | 4 | 5 | all recent news | >>
July 31, 2014
10:02 EDTABOn The Fly: Analyst Upgrade Summary
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06:14 EDTBABoeing to assemble 787-10 Dreamliner in South Carolina
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06:11 EDTABAllianceBernstein upgraded to Buy from Neutral at Citigroup
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05:49 EDTBABoeing and All Nippon Airways finalize orders for 40 widebody airplanes
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July 30, 2014
15:17 EDTBACBank of America raises offer to DOJ, nears mortgage settlement, Bloomberg says
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14:20 EDTCBSDispute delays "Big Bang Theory" production, Hollywood Reporter says
The three stars of the hit TV show "The Big Bang Theory" have not yet come to terms on a new contract with the producer of the show, Time Warner's (TWX) Warner Bros. Television, according to The Hollywood Reporter. As a result, production of the new season of the show has been delayed, The Hollywood Reporter quoted a source at Warner Bros. Television as saying. Reference Link
13:53 EDTBACBank of America, U.S. near mortgage deal after bank raises offer, Bloomberg says
13:44 EDTBACBank of America division ordered to pay $1.3B over mortgages, Bloomberg reports
Bank of America's (BAC) Countrywide division has been ordered to pay $1.3B in penalties for defective mortgage loans it sold to Fannie Mae (FNMA) and Freddie Mac (FMCC) during the 2008 financial crisis, Bloomberg reported. The fine is just over half the amount the government had requested, Bloomberg added. Reference Link
13:26 EDTBACBofA Countrywide unit ordered by judge to pay $1.3B, Bloomberg reports
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09:38 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN TWTR NFLX GILD C MA FB RFMD AMGN GNW TSLA
07:31 EDTNUSNu Skin August volatility elevated into Q2 and revenue growth outlook
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07:19 EDTABAllianceBernstein reports Q2 adjusted EPS 45c, consensus 41c
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05:23 EDTBABoeing sees rising demand for commercial pilots, technicians
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July 29, 2014
15:53 EDTABNotable companies reporting before tomorrow's open
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12:08 EDTBABoeing resells Inmarsat-5 satellite bandwidth to U.S. Government
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07:49 EDTBLKCFA Society of Chicago to hold a luncheohn discussion
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06:47 EDTCCiti looks to hire 100 Asia unit bankers to rival HSBC, Reuters says
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06:06 EDTBACBank of America, DOJ talks hit snag, WSJ reports
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05:22 EDTBABoeing delivers 787-9 Dreamliner to ANA
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July 28, 2014
17:52 EDTNUSHerbalife plummets after results fall short of estimates
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13:34 EDTBAFAA seeks $12M civil penalty against Southwest Airlines
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08:38 EDTBANational Contract Management Association to hold a conference
World Congress 2014 to be held in Washington, D.C. on July 27-30.
08:08 EDTCLSNCelsion's ThermoDox for liver cancer shows positive overall survival data
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July 25, 2014
16:49 EDTBAS&P ends week little changed amid earnings deluge
The S&P 500 finished little changed this week as mixed U.S. economic data and continued geopolitical uncertainty offset strong earnings from a number of major companies and upbeat overseas economic data. MACRO NEWS: U.S. economic data was mixed, as fewer than expected jobless claims were reported and durable goods orders for June were slightly higher than expected, but new home sales for June and a preliminary purchasing managers' index for July came in below expectations... Investors received some positive economic news from overseas, as HSBC's preliminary China purchasing managers' index for July reached an 18-month high. Meanwhile, a preliminary PMI for the euro zone for July came in at 54, versus 52.8 in June... Ongoing conflicts between Israel and Hamas and Russia and Ukraine kept investors on edge, with Friday reports indicating that no truce accord had been reached in Israel and that Russia was building up its troop presence along the Ukrainian border. COMPANY NEWS: Among the notable companies whose stocks rose after they reported quarterly results were Facebook (FB), Apple (AAPL), Allergan (AGN) and Chipotle Mexican Grill (CMG). Notable companies whose stocks sold off following their results included Netflix (NFLX), Harley-Davidson (HOG), General Motors (GM), Boeing (BA), McDonald's (MCD) and Pandora (P)... McDonald's was also hit this week by revelations that its restaurants in China had sold expired meat that was allegedly intentionally supplied by a China-based company. Yum! Brands (YUM) and a provider of products to Starbucks (SBUX) are also believed to have bought and sold expired meat from the supplier... In M&A news, Bloomberg reported that real estate website operator Zillow (Z) held talks about buying its rival, Trulia (TRLA). Both stocks surged. Shares of SodaStream (SODA) also rallied after Bloomberg reported that the company is in talks about selling itself to an investment firm that would take the beverage system maker private... On Monday, hedge fund manager Bill Ackman promised on CNBC that his presentation about Herbalife (HLF) would show why the company "is going to collapse." But the shares actually surged higher during and immediately after Ackman's presentation. Ackman has a large short position in the stock and notably alleged it is a pyramid scheme... BlackBerry's (BBRY) CEO told the Financial Times that his company was in early talks about partnering with companies to target the enterprise markets, in order to counter a recently announced partnership between Apple and IBM (IBM). INDEXES: For the week, the Dow fell 0.83% to 16,960.57, the Nasdaq rose 0.4% to 4,449.56, and the S&P was flat at 1,978.34.
11:03 EDTCCitigroup unit LavaFlow to pay $5M in settlement with SEC
The Securities and Exchange Commission has charged a Citigroup business unit operating an alternative trading system with failing to protect the confidential trading data of its subscribers. New York-based LavaFlow Inc. has agreed to pay $5M to settle the SEC’s charges, including a $2.85M penalty that is the agency’s largest to date against an ATS. According to the SEC’s order instituting a settled administrative proceeding, LavaFlow allowed an affiliate operating a technology application known as a smart order router to access and use confidential information related to the non-displayed orders of LavaFlow’s ECN’s subscribers. While LavaFlow only allowed the affiliate to use the confidential trading data for order router customers who also were ECN subscribers, the firm did not obtain consent from its subscribers to use their confidential information in this way, nor did LavaFlow disclose the use in its regulatory filings with the SEC. In addition to the Regulation ATS violations, the SEC’s order finds that LavaFlow aided and abetted a violation by the same affiliate that operated the smart order router, Lava Trading Inc., which continued to provide broker-dealer services for several months after it deregistered in August 2008.
09:37 EDTCActive equity options trading on open
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July 24, 2014
17:35 EDTWSMWilliams-Sonoma names Dean Miller as COO, other executive appointments
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16:00 EDTCiPath S&P 500 VIX Short-Term Futures down 10c to 28.08
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12:22 EDTBABoeing reports no order change in weekly update
11:12 EDTBACBank of America to pay $16.6M to resolve U.S. sanctions violations, Reuters says
The Treasury Department said Bank of America has agreed to say $16.6M to resolve allegations it processed transactions for drug traffickers subject to U.S. sanctions, reports Reuters. The bank processed around $91,000 in transactions for six designated narcotics traffickers between 2005 and 2009, and failed to file timely reports on accounts owned by four others. Reference Link
10:03 EDTBAOn The Fly: Analyst Downgrade Summary
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09:05 EDTBAUnited Technologies awarded U.S. Air Force landing gear contract
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08:18 EDTCLSNCelsion's Thermodox for breast cancer shows positive Phase 2 results
Celsion announced positive interim data from its ongoing open-label Phase 2 DIGNITY Trial of ThermoDox in Recurrent Chest Wall Breast Cancer. 60% of patients experienced a stabilization of their highly refractory disease with a local response rate of 50% observed in the 10 evaluable patients, notably 3 complete responses, 2 partial responses and 1 patient with stable disease. These data are consistent with the previously reported positive Phase 1 data in RCWBC.
08:05 EDTBABoeing shares still attractive, says Wells Fargo
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07:19 EDTBABoeing downgraded to Neutral from Buy at BofA/Merrill
As previously reported, BofA/Merrill downgraded Boeing to Neutral from Buy. The firm believes the peak in the cycle is near and has concerns seat overcapacity may lead to order cancellations in out-years. The firm sees additional risks from shrinking milirary programs, 777x development risk, deferred production costs in the 787 program, overhangs to the 737 MAX transition and Airbus A321NEO competition vs. the 757. Price target lowered to $140 from $154.
06:50 EDTBABoeing enters into agreement, engaged in talks with Iran regarding parts sales
Boeing said in a filing that during Q2 it entered into an agreement and engaged in related discussions with Iran Air pursuant to a license from the U.S. Office of Foreign Assets Control. The agreement sets forth general terms and conditions with respect to the potential sale of certain goods and services related to the safety of flight, including airplane parts, manuals, drawings, service bulletins, and navigation charts and data. Boeing also engaged in discussions pursuant to the OFAC license with Iran Air Tours, a subsidiary of Iran Air, with respect to the sale of similar goods and services. Boeing applied for the OFAC license consistent with guidance from the U.S. Government in connection with ongoing negotiations between the “P5+1” nations and Iran related to, among other things, the safety of Iran’s civil aviation industry. Boeing generated no gross revenues or net profits during the second quarter in connection with these activities.
06:07 EDTBABoeing downgraded to Neutral from Buy at BofA/Merrill
July 23, 2014
17:01 EDTBAOn The Fly: Closing Wrap
Stocks began the session mixed and remained that way throughout the trading day, with the Nasdaq the leader and the Dow the laggard. The tech-heavy Nasdaq was helped by a post-earnings rise in shares of Apple (AAPL), while the blue-chip index was weighed down by Boeing's (BA) under-performance following its own quarter report. There was little movement in the averages during the day as they remained in a narrow range, but the increase in the S&P 500 did manage to push it to a new all-time closing high. After the bell, investors will receive the next wave of earnings with AT&T (T), Facebook (FB) and Qualcomm (QCOM) scheduled to report. ECONOMIC EVENTS: In the U.S., MBA's mortgage market index rose 2.4%, with a 0.3% rise in the purchase index and a 4.1% gain in the refinance index for the week ended July 18. Also, the International Monetary Fund predicted that U.S. economic growth for 2014 as a whole will be a disappointing 1.7%. However, barring unforeseen shocks, 2015 growth should accelerate to the fastest annual pace since 2005, propelled by strong consumption growth, a declining fiscal drag, a pickup in residential investment, and easy financial conditions, said the IMF. COMPANY NEWS: Shares of Apple advanced $2.47, or 2.61%, to $97.19 after reporting third quarter earnings that beat expectations. However, the iPhone maker's revenue came in a bit short of analyst expectations for its just completed quarter and its guidance for sales in the new quarter was also below expectations. Piper Jaffray analyst Gene Munster said Apple's September quarter guidance suggests an iPhone 6 launch on September 26, versus the firm's prior expectation for a September 19 launch. Piper views Apple's Q3 results as removing the last major variable ahead of the iPhone and iWatch launches later this year and reiterates an Overweight rating on the stock. Another research firm, Janney Capital, said Apple did not address rumored new products, like the iPhone 6 and iWatch, on its earnings call, but did indicate that its wider than normal revenue guidance range was due to "many moving pieces," suggesting one or two new products may be introduced, but late in the quarter... Dow component Boeing sank $3.03, or 2.34%, to $126.71 despite reporting "core" EPS that beat expectations and raising its fiscal year earnings outlook to a range above the Wall Street consensus. Boeing's revenue missed expectations, however, and it also reported its total company backlog of $440B was unchanged from the beginning of the quarter... Another Dow member, McDonald's (MCD), fell 92c, or 0.96%, to $95.35 after the company reported weaker than expected second quarter results yesterday and its stock was downgraded by at least five research firms. MAJOR MOVERS: Among the notable gainers was Puma Biotechnology (PBYI), whose stock surged $174.40, or 295.44%, to $233.43 after the company reported positive data for its breast cancer drug and an analyst at Citigroup said that the company would probably become a takeover target. Also higher was Intuitive Surgical (ISRG), which rose $69.47, or 17.71%, to $461.63 and was upgraded at both Raymond James and Stifel after the company reported better than expected Q2 results. Among the noteworthy losers was Xilinx (XLNX), which tumbled $6.89, or 14.31%, to $41.26 after the company reported lower than expected first quarter revenue and forecast that its sales could drop as much as 4% in Q2 versus Q1. After the report, analysts at William Blair, Bank of America Merrill Lynch and BMO Capital all downgraded the stock. Also lower were shares of Juniper Networks (JNPR), which fell $2.39, or 9.63%, to $22.43 and was also downgraded at Bank of America Merrill Lynch after its Q3 guidance missed expectations. INDEXES: The Dow slid 26.91, or 0.16%, to 17,086.63, the Nasdaq rose 17.68, or 0.4%, to 4,473.70, and the S&P 500 gained 3.48, or 0.18%, to 1,987.01.
16:02 EDTCSallie Mae names Jeffrey Dale as company’s first Chief Risk Officer
Sallie Mae (SLM) appointed Jeffrey Dale as the company’s first Chief Risk Officer. Mr. Dale will work with senior executives and other company stakeholders to build out the enterprise risk management function and framework for the company and its Sallie Mae Bank subsidiary. Mr. Dale arrives from Citigroup (C) where he most recently served as the North American Group Risk Director responsible for consumer credit in the United States, Puerto Rico and Canada.
16:00 EDTCOptions Update; July 23, 2014
iPath S&P 500 VIX Short-Term Futures up 23c to 28.17. Option volume leaders: AAPL FB C GILD MSFT PBR NFLX AMZN TWTR TSLA according to Track Data
13:10 EDTBLKBlackRock announces support for SEC money market reform
BlackRock said in a statement, "BlackRock supports the SEC’s efforts to improve the resiliency of U.S. money market funds during times of stress and appreciates the thoughtful, deliberate and consultative process the Agency has undertaken to achieve this result. In light of these changes, we believe that money market funds will continue to prove a valuable cash investment strategy. BlackRock is well positioned to offer our clients the full spectrum of stable NAV, floating NAV, Government, Prime and Municipal cash management products. We look forward to engaging closely with our clients over the coming months to discuss the wide array of cash solutions available to successfully adapt to these new reforms."
12:17 EDTBAOn The Fly: Midday Wrap
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11:40 EDTBAATR-made prop plane involved in deadly crash in Taiwan, Reuters reports
A 70-seat turboprop ATR 72 operated by TransAsia Airways crashed in tyhoon-hit Taiwan, killing 47 people, Reuters reported, citing the nation's Civil Aeronautics Administration. Reference Link
10:57 EDTBABoeing understands the scope of work that needs to be done on Tanker program
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10:50 EDTBABoeing says it bid Tanker 'aggressively' with no margin at initial stage
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10:38 EDTBABoeing says Q2 results include $272M charge on KC-46A Tanker program
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09:41 EDTBAPassenger plane reportedly crashes, 40 killed in Taiwan, Reuters says
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09:17 EDTBAOn The Fly: Pre-market Movers
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07:36 EDTBABoeing says backlog unchanged at $440B
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07:34 EDTBABoeing raises 2014 EPS outlook to $7.90-$8.10 from $7.15-$7.35
Consensus $7.67. Sees 2014 revenue $87.5B-$90.5B, $89.76B. consensus Boeing says the raised outlook reflects $408M in tax benefits, strong operating performance and the KC-46A Tanker charge. Commercial Airplanes operating margin guidance is increased to greater than 10% on strong operating performance. Defense, Space & Security operating margin guidance is unchanged at approximately 9.5%. Boeing Military Aircraft operating margin guidance is lowered to approximately 9%. Global Services & Support operating margin guidance increased to approximately 11% reflecting strong performance.
07:34 EDTBABoeing raises FY14 core EPS view to $7.90-$8.10, consensus $7.67
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07:31 EDTBABoeing reports Q2 EPS $2.42, consensus $2.01
Reports Q2 revenue $22.05B, consensus $22.23B.
06:23 EDTBAAirbus group submits bid as Denmark looks to replace F-16s, WSJ reports
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July 22, 2014
15:30 EDTBANotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include PepsiCo (PEP) , consensus $1.23; Boeing (BA), consensus $2.01; Dow Chemical (DOW), consensus 72c; EMC (EMC), consensus 43c; Simon Property Group (SPG), consensus $2.13; Thermo Fisher (TMO), consensus $1.62; General Dynamics (GD), consensus $1.77; Freeport-McMoRan (FCX), consensus 49c; Delta Air Lines (DAL), consensus $1.04; Northrop Grumman (NOC), consensus $2.22; Whirlpool (WHR), consensus $2.91; B/E Aerospace (BEAV), consensus $1.07; Ryder (R), consensus $1.40; Owens Corning (OC), consensus 46c.
14:28 EDTNUSSam Antar cautious on Nu Skin in White Collar Fraud blog
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13:48 EDTBAEarnings Preview: Boeing shares flat since Q1 earnings report
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13:18 EDTBLKEarnings Preview: Apple reports after stock split, Beats purchase, iOS 8 launch
Apple (AAPL) is set to report third quarter earnings after the market close on Tuesday, July 22, with a conference call scheduled for 5:00 pm ET. Apple, the world's most valuable company by market capitalization, is the manufacturer of the iPhone and iPad, among other desktop and mobile computing devices. EXPECTATIONS: Analysts are looking for earnings per share of $1.23 on revenue of $37.99B, according to First Call. The consensus range for EPS is $1.14-$1.37 on revenue of $36.58B-$40.31B. In a note to investors, Piper Jaffray analyst Gene Munster said Street analysts expect year-over-year iPhone sales growth of 14% to 35M-36M units, flat iPad sales of 14M-15M units, and a Q3 gross margin of 38%. Munster added that he expects Apple to guide Q4 revenues to $39B-$41B, which is in keeping with Street estimates for about $40.4B in Q4 revenue. LAST QUARTER: Apple reported second quarter EPS of $11.62 on revenue of $45.6B, which topped estimates for $10.18 and $43.5B, respectively. Apple reported iPhones sales of 43.7M units, iPad sales of 16.35M units and Mac sales of 4.14M. Apple said it sees Q3 revenue of $36B-$38B and a gross margin of 37%-38%. Along with its Q2 report, Apple announced a seven-for-one stock split. Apple also announced that its board raised its share repurchase authorization to $90B from the $60B level announced last year and an increase to the company’s quarterly dividend of approximately 8% to $3.29 per common share. NEWS: On May 28, Apple confirmed that it agreed to buy Beats Music, which operates a streaming music service, and Beats Electronics, which makes and sells electronic music products such as headphones and speakers, for $3B. As part of the acquisition, Beats co-founders Jimmy Iovine and Dr. Dre will join Apple. Apple said at that time that it expects the transaction to close in Q4. On June 2, Apple announced OS X Yosemite, a new version of OS X redesigned and refined with a new look, new apps and new continuity features. Apple also unveiled iOS 8, a new version of its mobile operating system with new features for users and developers. Among the features were iCloud Photo Library, which allows user to enjoy photos and videos more easily across devices, new Messages features to easily share voice, video or photos, and a new Health app. Apple noted that the software development kit, or SDK, for iOS 8 was its "biggest developer release ever," with more than 4,000 new APIs. Apple and IBM announced last week that they would collaborate to provide mobile solutions for businesses. Under the deal, the companies will develop more than 100 enterprise solutions, including native apps, for Apple's iPhone and iPads. Moreover, IBM will sell iPhone and iPads to all of its business clients around the world, the companies noted. Also last week, Apple announced that Susan Wagner, founding partner and director of BlackRock (BLK), has been elected to Apple's board and that Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service. Mac Rumors reported on July 10 that Apple was said to have ordered 68M iPhone 6 devices, citing a report in Taiwan's Business Weekly. That's double the amount of phones that the tech giant ordered prior to launching the iPhone 5 in 2012, the tech blog noted. The Wall Street Journal subsequently claimed that Apple has asked its suppliers to manufacture between 70M-80M of its two upcoming large-screen iPhones by the end of the year. ANALYST OPINION: On the day after Apple's last quarterly report, CLSA upgraded its rating on the shares to Buy from Outperform. On May 9, ISI Group downgraded Apple to Buy from Strong Buy, citing valuation. On June 2, following Apple's launch event for iOS 8, Piper Jaffray said it believed parts of Apple's new operating system point towards a possible iWatch later in the year and potential connected home products in the future. Piper said at that time that Apple remains on track to deliver multiple new product categories by the end of 2014. On June 17, Societe Generale upgraded Apple to Buy from Hold. On July 14, Barclays raised its rating on Apple to Overweight from Equal Weight, citing its channel checks that indicated near-term upside to consensus estimates. The firm also believes troubles at Samsung are creating an opportunity for Apple to regain market share and raised its price target for Apple shares to $110 from $95. The same day, Morgan Stanley said its survey results suggest June quarter iPhone demand upside. The firm raised its iPhone unit estimate to 36M from 34M and increased its EPS estimate to $1.24. Morgan Stanley increased it price target on Apple to $110 per share. Yesterday, JMP Securities upgraded Apple to Outperform from Market Perform, as the firm thinks the company is poised to report higher than expected sales and gross margins over the near-term and intermediate term. JMP set a price target of $135 on the stock. In his note previewing Apple's quarter, Munster wrote that Apple's guidance for its September-end quarter should tell investors if new iPhones are launching in September or later in the year. The Piper analyst expects a typical September launch, which could give the company 5 or 12 days of sales with the new phone depending on a standard Friday launch and its timing. Munster estimated the potential 7 day swing in the timing of the new phone could mean a 3M-4M unit and about $2B difference in the guidance for Q4, citing recent weekly run-rates for iPhone sales near launch quarters. PRICE ACTION: Each Apple shareholder of record at the close of business on June 2 received six additional shares for every share held on the record date and trading began on a split-adjusted basis on June 9. Shares of Apple advanced about 8% on the first day of trade following its Q2 report. Since the first day of trade following its last quarterly report, shares of Apple are up nearly 26%. In early afternoon trading ahead of its Q3 report tonight, Apple was up fractionally to just over $94 per share.
09:36 EDTCActive equity options trading on open
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07:17 EDTBACNational Association for Business Economics to hold a seminar
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07:08 EDTBABoeing shares attractive at current levels, says Bernstein
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July 21, 2014
14:32 EDTNUSNu Skin July weekly volatility increase on wide price movement
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09:38 EDTCActive equity options trading on open
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08:59 EDTBABoeing July weekly volatility elevated into Q2 and outlook
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07:29 EDTBACAIG settlement with BofA takes crisis claw back total up to $2B, FT says
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07:23 EDTCCiti unit, Mexican regulator at odds over fraud probes, Reuters says
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July 20, 2014
14:59 EDTBABoeing says helicopter pact with India may signal new openness, WSJ says
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July 18, 2014
16:47 EDTBAC, CMarket ends week higher as earnings, M&A offset geopolitical tensions
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12:21 EDTCBSCable ad upfront volumes may drop 4% or more, WSJ says
Two of the U.S.'s biggest marketers, Procter & Gamble (PG) and General Motors (GM), have pulled back on their TV network advertising commitments in advance of the "upfront" selling season for cable networks, said The Wall Street Journal, citing people familiar with the matter. The overall volume of ad dollars committed to cable networks during the upfront, which is still under way, could be down 4% or more from last year, people familiar with the situation said. Notable owners of cable television stations include 21st Century Fox (FOXA), Time Warner (TWX), Disney (DIS), CBS (CBS), Comcast (CMCSA), Discovery (DISCA), Viacom (VIAB), and AMC Networks (AMCX). The report added that cutbacks partly reflect a shift of tv ad budgets to digital media, including online video. Google (GOOG) has a large presence in online video with YouTube and Facebook (FB) is taking steps to grow in the area. Reference Link
12:01 EDTCCitigroup says DOJ settlement includes est. of cost of consumer relief
Says $3.8B charge for DOJ settlement included estimates of cost of consumer relief.
11:30 EDTCCitigroup sees issuing 'somewhat more' securitizations during rest of year
Says liquidity position remains strong. Sees FY NCL rate in Asia, Latin America roughly in line with 1H. Says expects to repurchase or redeem $10B of debt this year. Expects to issue preferred stock between now and when Basel III rules are implemented at a measured pace. Sees 2014 preferred stock issuance volume below 2013 levels. Says capital position remains among the strongest in the industry. Says will issue "somewhat more" securitizations during the rest of the year, says credit cards to be primary source of additional securitizations. Comments made on the company's Q2 Fixed Income Investor Review.
10:32 EDTCCitigroup says making continued progress in resolving legacy issues
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10:03 EDTNUSOn The Fly: Analyst Downgrade Summary
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09:24 EDTNUSOn The Fly: Pre-market Movers
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08:21 EDTCBSTime Warner merger could change Warner Bros. spot in tv landscape, WSJ says
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07:05 EDTCBSCBS CEO says will examine CNN if Time Warner puts up for sale, Reuters says
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06:52 EDTNUSNu Skin downgraded to Underperform from Neutral at BofA/Merrill
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06:45 EDTBACDocument reveals SEC examining firms in HFT probe, Reuters says
An internal document from the U.S. Securities and Exchange Commission revealed that the regulator has been looking for data on 10 registered broker dealers as part of an ongoing probe into high-frequency trading strategies, according to Reuters, citing the document. The firms in question include Allston Trading, Hudson River Trading, Jump Trading, Latour Trading, which is an affiliate of Tower Trading, Merrill Lynch, Pierce, Fenner & Smith, owned by Bank of America (BAC), Octeg, which has been merged into a unit of KCG (KCG), Tradebot Systems, Two Sigma Investments, Two Sigma Securities and Virtu Financial. Reference Link
July 17, 2014
16:40 EDTBLKBill Campbell retires from Apple's board, replaced by Susan Wagner
Apple (AAPL) announced that Susan Wagner, founding partner and director of BlackRock (BLK), has been elected to Apple's board. Bill Campbell, the board’s longest-serving member, is retiring after 17 years of service. Wagner co-founded BlackRock in 1988, holding a range of leadership positions including vice chairman until mid-2012.
12:03 EDTBABoeing says aware of reports on MH17 plane incident
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11:54 EDTBAMalaysia Airlines says lost contact of MH17 from Amsterdam
Malaysia Airlines said on its official twitter feed, "Malaysia Airlines has lost contact of MH17 from Amsterdam. The last known position was over Ukrainian airspace. More details to follow." According to media reports the plane was a Boeing plane. Reference Link
10:00 EDTWSMOn The Fly: Analyst Initiation Summary
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08:42 EDTCBSCBS, Yahoo among potential CNN buyers if Time Warner divests, WSJ says
If Time Warner (TWX) were to divest CNN, which has been raised as a possiblity given the interest in Time Warner expressed by Fox News owner 21st Century Fox (FOXA), the "long list of potential buyers" would include CBS (CBS), Yahoo (YHOO) and Bloomberg LP, said The Wall Street Journal, citing media analysts and executives. Reference Link
06:41 EDTBADefense Department to seek rival bids for satellite launches, WSJ reports
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06:38 EDTBACStudy says UBS largest private bank with assets near $2T, Reuters says
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06:34 EDTBLKBlackRock sells $3.7B of UBS securities to Credit Suisse, Bloomberg says
Blackrock (BLK) sold $3.7B of the $22B of securities it purchased six years ago from UBS (UBS) to Credit Suisse (CS) in yesterday’s auction of mostly subprime-mortgage bonds, according to Bloomberg, citing a person with knowledge of the transaction. Reference Link
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