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Stock Market & Financial Investment News

News Breaks
December 17, 2012
19:17 EDTDFS, DMND, BAC, GPOR, XRTX, C, GALEOn The Fly: After Hours Movers
HIGHER: Citigroup (C), up 0.50%, Bank of America (BAC), up 2%, and Discover Financial (DFS), up 2.2% all gained after being upgraded by Meredith Whitney speaking on CNBC... Xyratex (XRTX), up 6.8% after declaring a $2.00 special dividend... DOWN AFTER EARNINGS: Diamond Foods (DMND), down 3%... ALSO LOWER: Galena Biopharma (GALE), down 16% after announcing intent to offer common stock and warrants... Gulfport Energy (GPOR), down 3.6% after providing operational updates and 2013 production guidance.
News For C;BAC;DFS;XRTX;DMND;GALE;GPOR From The Last 14 Days
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January 29, 2016
08:21 EDTBAC, BACBank of America upgraded to Outperform from Sell at CLSA
CLSA analyst Mike Mayo upgraded Bank of America two notches to Outperform from Sell and increased his price target to $16 from $15 on shares. Mayo is more positive on large U.S. banks, saying their stocks are at "recession prices" without a recession, and said Bank of America is more resilient and could grow book value even in a recession. The analyst, who thinks BofA's book value is relatively clean, said the stock could become event-driven, given "lousy efficiency" and a valuation 20% below estimated Q4 tangible book value.
07:31 EDTC, DFS, BACBank, financial stocks look cheap, says Oppenheimer
After an index of bank stocks fell 19% since last summer, versus an 8% decline for the S&P, Oppenheimer says that "the group looks cheap." The firm says that banks' balance sheets will remain strong whether the economy is resilient or enters a downturn. The firm says that the banks' Q4 results were stable, and it expects the group to benefit from steady loan growth and slightly rising NIMs in 2016. Oppenheimer continues to recommend Bank of America (BAC), Citi (C), Goldman Sachs (GS), Discover (DFS), and Fifth Third (FITB)
January 28, 2016
18:19 EDTBACBank of America, Wells Fargo to integrate Apple Pay in ATMs, TechCrunch says
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16:00 EDTC, BACOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures down 84c to 25.21 Option volume leaders: FB AAPL MSFT AMZN NFLX BAC BABA QCOM AAL MU C RIG
12:20 EDTDFSOn The Fly: Top stock stories at midday
Stocks on Wall Street have moved all over the place in a wild morning of trading. The averages opened sharply higher as oil prices rose above $34 a barrel. The Dow opened with triple digit gains but following reports from Iraq that it would increase oil production, and refutations of rumors that OPEC might cut production, the commodity began to weaken, taking equities with it. The averages turned negative and it looked like another rout might be in the making. Before the market fell too far, it gathered itself and moved back into positive ground and the major averages are now in the green, but not far from where they ended yesterday's session. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 14.5% after the social media giant's fourth quarter earnings and revenue beat expectations. Wall Street analysts were nearly unanimous in their praise following the report, with a number increasing their price targets for its shares... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded about 2% this morning after the company jumped over its lowered profit hurdle... Shares of eBay (EBAY) and PayPal (PYPL) diverged after the recently-split companies reported their respective fourth quarter results and gave guidance, with eBay falling 13% and PayPal rising 7% near midday... The Dow Jones US Healthcare ETF (IYH) fell over 2% at midday after a number of big-names in the space gave disappointing guidance. Celgene (CELG) fell 5% following its Q4 report and fiscal year outlook, while Abbott (ABT) dropped 8% in the wake of its own results and guidance. MAJOR MOVERS: Among the notable gainers was Kinder Morgan (KMI), which rallied 8.5% after it was upgraded at Credit Suisse and Stifel. Also higher were Under Armour (UA), Dolby (DLB) and Deluxe (DLX), which gained 18%, 11% and 9%, respectively, after reporting quarterly earnings. Among the noteworthy losers was OSI Systems (OSIS), which fell 35% and was downgraded to Hold at BB&T following downbeat quarterly earnings. Also lower were Qualcomm (QCOM) and Discover (DFS), which each dropped about 7% after their quarterly earnings reports. INDEXES: Near midday, the Dow was up 1.37, or 0.01%, to 15,945.83, the Nasdaq was up 21.12, or 0.47%, to 4,489.28, and the S&P 500 was up 3.36, or 0.18%, to 1,886.31.
08:13 EDTDFSDiscover shares should be bought on weakness, says Stifel
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07:14 EDTDFSDiscover outlook still positive despite miss, says Wells Fargo
After Discover reported lower than expected EPS, Wells Fargo blamed the miss on higher credit costs. The firm still expects the company to have about 1.3 percentage points of positive operating leverage this year, along with 2.3% core revenue growth, and it keeps an Outperform rating on the shares.
06:50 EDTBACBank of America loads up heavily on blockchain patents, CNBC reports
Bank of America is attempting to steal a march on the latest developments in the technology behind bitcoin by going big on blockchain-related patents, CNBC reports. Blockchain operates as a large, decentralized ledger for bitcoin which records each transaction and stores this information on a global network, the report notes. Bank of America is trying to patent some of the use cases of blockchain, having filed for 15 patents related to blockchain and is currently drafting an additional 20 to submit to the U.S. PTO, the report says. Reference Link
January 27, 2016
19:30 EDTDFSOn The Fly: After Hours Movers
UP AFTER EARNINGS: Facebook (FB), up 11.4%... Mellanox (MLNX), up 6.4%... Paypal (PYPL), up 5%... Crown Castle (CCI), up 2.2%... Citrix (CTXS), up 2.4%... Las Vegas Sands (LVS), up 1%... SanDisk (SNDK), up 1%. ALSO HIGHER: Radius Health (RDUS), up 1.2% after announcing a clinical collaboration with Novartis (NVS)... LinkedIn (LNKD) is up 2.4%, Alphabet (GOOG, GOOGL) is up 2.2% and 2.6%, respectively, Netflix (NFLX) is up 1%, Amazon.com (AMZN) is up 2%, and Twitter (TWTR) is up marginally after Facebook reported quarterly results... MGM Resorts (MGM) is up 2.2% and Wynn Resorts (WYNN) is up 2.2%. DOWN AFTER EARNINGS: ServiceNow (NOW), down 16.5%... eBay (EBAY), down 12.8%... United Rentals (URI), down 9.7%... Juniper Networks (JNPR), down 9.6%... Silicon Graphics (SGI), down 9.1%... Discover Financial (DFS), down 7.4%... InvenSense (INVN), down 6.1%... Core Laboratories (CLB), down 4.3%... Vertex Pharmaceuticals (VRTX), down 1.1%. ALSO LOWER: Incyte (INCY), down 12.8% after announcing that it will halt the Phase 2 sub-study of ruxolitinib or placebo in combination with regorafenib after a planned interim analysis of the high CRP subgroup demonstrated that ruxolitinib plus regorafenib did not show a sufficient level of efficacy to warrant continuation.
16:18 EDTDFSDiscover reports Q4 EPS $1.14, consensus $1.30
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16:01 EDTBACOptions Update; January 28, 2016
iPath S&P 500 VIX Short-Term Futures up 1.02 to 26.01. Option volume leaders: AAPL FB BAC NFLX FCX BABA AA X VZ BA T
14:34 EDTDFSNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Facebook (FB), consensus 68c... Qualcomm (QCOM), consensus 90c... Texas Instruments (TXN), consensus 69c... McKesson (MCK), consensus $3.13... PayPal (PYPL), consensus 35c... Las Vegas Sands (LVS), consensus 65c... eBay (EBAY), consensus 50c... Crown Castle (CCI), consensus $1.10... Vertex (VRTX), consensus 17c... Discover (DFS), consensus $1.30... SanDisk (SNDK), consensus 89c... ServiceNow (NOW), consensus 8c... Lam Research (LRCX), consensus $1.43... Citrix Systems (CTXS), consensus $1.19... Hologic (HOLX), consensus 42c... Juniper (JNPR), consensus 59c... Cavium (CAVM), consensus 28c... Cirrus Logic (CRUS), consensus 81c.
10:10 EDTBACActive calls: XOM AAPL SPY BAC UUP
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09:32 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL FB AMZN AAL BAC PCLN NFLX MRK GOOG
January 26, 2016
16:00 EDTBAC, COptions Update; January 26, 2016
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11:13 EDTBAC, CActive options; AAPL BAC FB NFLX C MSFT TWTR VALE FCX COH XOM AMZN
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11:01 EDTBACStocks with call strike movement; COH BAC
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January 25, 2016
16:00 EDTC, BACOptions Update; January 25, 2016
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06:43 EDTDFSAmerican Express downgraded to Equal Weight from Overweight at Morgan Stanley
Morgan Stanley analyst Cheryl Pate downgraded American Express (AXP) to Equal Weight saying double digit earnings growth is pushed out until at least 2018. The company's growth story is "increasingly under pressure" amid an evolving payments landscape, Pate tells investors in a research note. The analyst cut her price target for American Express shares to $64. The stock closed Friday down $7.59 to $55.05 following the company's Q4 earnings miss. Pate sees a better risk/reward for shares of Discover (DFS), her top pick in the credit card space. Oppenheimer analyst Ben Chittenden this morning upgraded American Express to his firm's neutral rating.
January 24, 2016
11:02 EDTBACStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
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