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News Breaks | | | | December 5, 2012 | | 12:32 EDT |  | BAC, PXP, C, SVU, JPM, FB, MMR, P, TOT, TRV, AAPL, FCX, MFRM, CIE | On The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, as the financials lead the Dow higher and Apple (AAPL) weighed on the Nasdaq. A number of factors, including Facebook's (FB) upcoming inclusion in the Nasdaq 100 and reports of increased margin requirements on its stock, may have contributed to Apple's slide of over 4%. Conversely, strength in Bank of America (BAC), Travelers (TRV) and JP Morgan (JPM) powered the blue chip index higher... ECONOMIC EVENTS: In the U.S., payroll processor ADP said employers added 118,000 jobs last month, which was below analysts' forecasts, but the chief economist at Moody's Analytics estimated Superstorm Sandy cut the total by 86,000 jobs. The Labor Department revised its estimate for Q3 productivity growth up to an annual rate of 2.9% from its initial estimate of 1.9%. Labor costs in the quarter dropped at a rate of 1.9%, which was more than the 0.1% dip initially estimated. Factory orders rose 0.8% in October, versus expectations for them to be flat, and the ISM non-manufacturing PMI rose to 54.7, versus expectations for it to slip to 53.5. In China, stocks bounced back from multi year lows as the government allowed insurers to invest more in banks and its new leaders made comments that were viewed favorably... COMPANY NEWS: In a bold step by its new CEO, Citigroup (C) announced it will cut about 4% of its workforce, or 11,000 jobs, with about 6,200 coming from its consumer banking unit and about 1,900 coming from the institutional clients group, which includes investment banking. Citi sees pre-tax charges of around $1B in Q4 due to the restructuring but expects the cuts to save $900M next year and slightly more after that. Citi shares jumped nearly 6% following the news... In a huge deal that takes Freeport McMoRan (FCX) from being a metals pure play and back to its roots as a diversified commodities producer, the company agreed to repurchase McMoRan Exploration (MMR) for $14.75 per share in cash and to acquire Plains Exploration (PXP) for $6.9B in cash and stock. Following the news, which was broken last night by Financial Times, shares of Freeport plunged 13%, while McMoRan Exploration surged 82% and Plains jumped 26%.. MAJOR MOVERS: Among the notable gainers were Cobalt International Energy (CIE), up nearly 15% after announcing a Gulf of Mexico discovery in partnership with Total (TOT), and SuperValu (SVU), up over 9% following a report that the company may be close to selling its two biggest grocery chains to a private equity firm. Among the noteworthy losers were Mattress Firm (MFRM), down 21%, and Pandora (P), down 17% following their quarterly reports... INDICES: Near noon, the Dow was up 104.41, or 0.81%, to 13,056.19; the Nasdaq was down 12.63, or 0.42%, to 2,984.06; and the S&P 500 was up 4.66, or 0.33%, to 1,411.71. | |
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News For C;FCX;MMR;PXP;AAPL;FB;BAC;TRV;JPM;CIE;TOT;SVU;MFRM;P From The Last 14 Days Check below for free stories on C;FCX;MMR;PXP;AAPL;FB;BAC;TRV;JPM;CIE;TOT;SVU;MFRM;P the last two weeks. |
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| June 19, 2013 | | 16:01 EDT |  | AAPL, C | Options Update; June 19, 2013
 Subscribe for More Information | | | 15:05 EDT |  | C, JPM, BAC | Bernanke says largest banks at or near compliant to Basel III rules
| | | 13:12 EDT | | AAPL | Apple confirms $30M iPad order from Los Angeles school district
Subscribe for More Information | | | 12:13 EDT |  | AAPL | Apple launching new ad strategy, Business Insider says
Apple is launching new ads that feature people using its products, according to Business Insider. The company's previous ads had mostly shown a finger swiping through the product's features as an actor proclaimed that the products were "magical," the website added. Reference Link | | | 11:44 EDT | | AAPL | Apple patent chief leaves for Technicolor, AppleInsider reports
Subscribe for More Information | | | 11:22 EDT |  | AAPL | NVIDIA's licensing initiative a way to get into Apple, says Raymond James
Subscribe for More Information | | | 10:38 EDT | | FB | Samsung likely to reject idea of Facebook phone, Korea Herald says
Subscribe for More Information | | | 10:09 EDT |  | TRV | Travelers files automatic mixed securities shelf
| | | 10:06 EDT | | AAPL | LinkedIn could get deep integration in Apple iOS update, 9to5Mac says
Subscribe for More Information | | | 10:05 EDT | | AAPL | Apple says HBO GO, WatchESPN available on Apple TV
Subscribe for More Information | | | | 09:53 EDT |  | AAPL | Apple breaks below round number support at $430
The stock has slipped below $430, last at $429.37. At that price, next support is at $426.21, and then at $423.20. Resistance is at $431.44. | | | 09:38 EDT | | AAPL, C | Active equity option families trading on open
Active equity option families trading on open according to Track Data: AAPL AMAT FDX MA C GOOG DISH AMRN MRK BIDU | | | 08:58 EDT | | AAPL | InvenSense likely shut out of iPhone this year, says Maxim
Subscribe for More Information | | | 08:54 EDT | | AAPL | Apple awarded $30M contract from Los Angeles school district, LA Times reports
Subscribe for More Information | | | 08:08 EDT | | AAPL, FB | Merkel tells Obama: Internet monitoring must have proper limits, Reuters reports
Subscribe for More Information | | | 07:54 EDT | | FB | Facebook says over 1M active advertisers
Subscribe for More Information | | | June 18, 2013 | | 16:00 EDT | | C, AAPL | Options Update; June 18, 2013
Subscribe for More Information | | | 14:17 EDT | | FB | Samsung may launch smartphone optimized for Facebook, Korea Times says
Subscribe for More Information | | | 10:41 EDT | | AAPL | Leak points to mass production of iPhone 5S display, BGR says
Subscribe for More Information | | | 09:48 EDT | | FB | Facebook, Samsung meeting sparks mobile plan questions, TechCrunch says
Facebook (FB) CEO Mark Zuckerberg met with Samsung (SSNLF) President Shin Jong Kyun to discuss a potential future for the two companies coming together to increase their revenue from mobile device ad sales, reported TechCrunch. Reference Link | | |
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