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Stock Market & Financial Investment News

News Breaks
March 27, 2014
12:18 EDTAMZN, LDOS, BAX, GOOG, GME, BAC, AAPL, LULU, COn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as slides in Citigroup (C) and a number of tech giants weighed on the indexes. The weakness comes in spite of the government's estimate for GDP growth in the fourth quarter having been revised upward, as well as encouraging data about unemployment claims. ECONOMIC EVENTS: The estimate of GDP growth in the fourth guarter was revised up to 2.6% from the prior 2.4% estimate, but analyst had expected it to be bumped up to 2.7% in this third reading. There were 311K initial jobless claims in the week ended March 22, which was below the consensus forecast for 323K claims. Pending home sales fell 0.8% in February from the prior month, missing expectations for them to have risen 0.2%. COMPANY NEWS: Shares of Citigroup dropped 6% after the bank was one of five to have its capital plan rejected by the Federal Reserve. The central bank said Citi's plan reflected a "number of deficiencies" in its planning. Citi was denied its request for a $6.4B share repurchase program and to increase its dividend to 5c per share, but will be permitted to continue with its current capital actions. Following last night's Fed announcment, Citigroup shares were downgraded at Keefe Bruyette and at Bernstein... Shares of Bank of America (BAC) were also lower by nearly 2% near midday, despite receiving approval from the Fed for its 2014 capital plan. The bank will be allowed to repurchase $4B of its common stock and increase its dividend to 5c from 1c per share. The bank also announced a more than $9B settlement with the Federal Housing Finance Agency related to mortgage-backed securities sold to Fannie Mae (FNMA) and Freddie Mac (FMCC) between 2005 and 2007... Shares of Baxter (BAX) rose 5.5% after the company announced plans to split into two separate, independent companies -- one focused on biopharmaceuticals and the other on medical products. The split, which is intended to take the form of a tax-free distribution to Baxter shareholders of a new publicly traded stock in the new biopharmaceuticals company, is expected to be completed by mid-year 2015... Shares of Apple (AAPL), Google (GOOG), Amazon.com (AMZN) and a number of other tech stocks were all lower near noon. MAJOR MOVERS: Among the notable gainers was athletic apparel maker lululemon (LULU), which rose over 6% after the company's fourth quarter results topped analysts' consensus expectation and the company's previously lowered outlook. Also higher was Garmin (GRMN), which gained 4.5% after research firm Oppenheimer joined Citigroup to issue the second positive note about the GPS product maker in two days. Among the noteworthy losers was security, health and engineering solutions firm Leidos (LDOS), which dropped more than 15% after its guidance dissapointed and its COO announced plans to leave the company. Also lower following its earnings reports was video game retailer GameStop (GME), which fell 7%. INDEXES: Near midday, the Dow was down 35.52, or 0.22%, to 16,233.47, the Nasdaq was down 34.23, or 0.82%, to 4,139.35, and the S&P 500 was down 7.94, or 0.43%, to 1,844.62.
News For C;BAC;BAX;LULU;GME;LDOS;AAPL;GOOG;AMZN From The Last 14 Days
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December 9, 2014
06:23 EDTAMZNAmazon.com testing faster deliveries through bikes, drones, WSJ reports
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06:20 EDTAAPLJudge denies Apple's efforts to throw out iPod pricing suit, WSJ reports
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06:16 EDTAMZNAmazon unveils 'Make an Offer' for customers to negotiate lower prices
Amazon.com has announced the "Make an Offer" experience that allows customers to negotiate even lower prices on thousands of items. Expanding on Amazonís traditional fixed price model, the new pricing feature allows customers to offer to buy items at even lower prices. If agreed upon, customers can then purchase the items at a savings from the listed price. To start, more than 150,000 items from sellers on Amazon are enabled with the "Make an Offer" experience across Sports and Entertainment Collectibles, Collectible Coins and Fine Art. The new feature will expand to hundreds of thousands of items from sellers in 2015. The "Make an Offer" feature is not an auction format. All negotiations are 1:1 and private between individual customers and sellers. A seller is able to accept a customerís offer at any time. The intention is to lower prices, and a customer negotiating with a seller will never pay more than the listed price.
06:14 EDTGOOGGoogle launches Street View in Dubai
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06:00 EDTGOOGSalesforce.com names YouTube CEO Susan Wojcicki to board
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05:59 EDTCCitigroup appointed successor depositary bank for Deutsche Post ADR program
Citi (C), acting through Citibank N.A., has been appointed by Deutsche Post AG (DPSGY) as successor depositary bank for its Level 1 American Depositary Receipt, or ADR, program. Deutsche Post DHLís ADR program trades in the U.S. over the counter market, with each ordinary share equivalent to 1 ADR.
05:41 EDTLULUlululemon upgraded to Outperform from Market Perform at Wells Fargo
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05:34 EDTAMZNChannelAdvisor says Amazon November SSS up 35.7%, eBay up 9.8%
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December 8, 2014
16:55 EDTCLone Star joins Springleaf as bidder for Citigroup OneMain unit, Bloomberg says
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16:00 EDTC, AAPL, BAC, AMZNOptions Update; December 8, 2014
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15:40 EDTCLone Star joins Springleaf as bidder for Citigroup OneMain unit, Bloomberg says
13:16 EDTAAPLApple trades off session lows, levels to watch
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08:50 EDTAMZNAmazon increasing robot fulfilment use faster than expected, says Janney Capital
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06:37 EDTAAPLApple rumored to be launching 4-inch iPhone in 2015, Times of India reports
Apple is rumored to be developing a new iPhone with a 4-inch display, The Times of India reports, citing a report from The Electronic Times of Taiwan. According to supply chain sources, the device will launch in 2H15. Reference Link
06:35 EDTC, BACValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:30 EDTAMZNAmazon's German workers strike again, WSJ reports
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06:22 EDTAAPLApple price target raised to $135 from $120 at Citigroup
Citigroup raised its earnings estimates for Apple after its field work indicated consumers are increasingly buying the higher memory iPhone 6 and 6+. Citi expects purchasing trends towards higher memory devices to drive stronger sales and margins. It believes consensus estimates are yet to factor in this development. The firm raised its price target for Apple shares to $135 from $120 and keeps a Buy rating on the name. Shares of phone maker closed Friday down 49c to $115.
06:21 EDTCDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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06:15 EDTAAPLLenovo shipments expected to lead Samsung by 9M in 2015, DigiTimes reports
Lenovo (LNVGY) is estimated to beat Samsung (SSNLF) in mobile device shipments in 2015 by about 9M units, reports DigiTimes Research. Lenovo is set to beat Samsung by about 1M units in 2014 and become the second largest mobile computing device brand vendor worldwide behind Apple (AAPL). DigiTimes Research says Lenovo and Samsung plan to focus on maintaining tablet shipments as demand weakens in 2015. Reference Link
06:12 EDTLULUStocks with implied volatility above IV index mean; LULU ACHN
Stocks with implied volatility above IV index mean; lululemon (LULU) 53, Achillion (ACHN) 216 according to iVolatility.
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