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Stock Market & Financial Investment News

News Breaks
October 16, 2012
12:14 EDTS, FOSL, KO, CLWR, AUO, JNJ, RATE, UNH, COn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as quarterly results from three Dow members provided hope that this earnings season may not be as bad as feared. Stocks began the session in positive territory and continued to move higher throughout the early part of the session. The premarket economic reports had little impact on the market but better than expected earnings from some of the countryís largest corporations did push the averages higher. The NAHB homebuilder sentiment index, which was released after the open, also helped as the measure hit its highest level since June 2006 and added credence to the belief that a housing market recovery is progressing... ECONOMIC EVENTS: Domestically, the headline consumer price index rose 0.6% in September, versus expectations of an increase of 0.5%. The core CPI reading, which excludes food and energy components, indicated prices inched up 0.1%, versus expectations for an increase of 0.2%. Industrial production rebounded 0.4% in September, versus consensus expectations for a 0.2% rise. The NAHB homebuilder sentiment index rose to 41, which was in line with expectations. Internationally, the Wall Street Journal reported that Spain is considering a request for a line of credit from the EU's new bailout mechanism... COMPANY NEWS: One day after Citigroup (C) reported stronger than expected third quarter earnings, the bank's board shocked Wall Street by announcing that Chief Executive Officer Vikram Pandit had stepped down, effective immediately. John Havens, Citiís President and Chief Operating Officer, also resigned. Pandit will be replaced by the current head of the European and Middle Eastern unit, Michael Corbat. Citigroup shares, which initially sold off, recovered and were up nearly 1% at midday... Among Dow members reporting earnings, Johnson & Johnson (JNJ) and UnitedHealth (UNH) both beat expectations and raised their full year views, while Coca-Cola (KO) shares moved down fractionally after its results were roughly in line with analysts' forecasts... MAJOR MOVERS: Among the notable gainers were AU Optronics (AUO), up 9% after being upgraded to Buy from Sell at CLSA, and Fossil (FOSL), up 8% following an upgrade to a Buy rating at Citigroup. Among the noteworthy losers was Bankrate (RATE), down 24% after the company gave weaker than expected guidance for its Q3 results. Also lower was Clearwire (CLWR), down 13% after Bloomberg said sources indicate that Sprint (S) has no immediate plans to acquire its smaller partner, as has been speculated... INDICES: Near noon, the Dow was up 123.01, or 0.92%, to 13,547.24; the Nasdaq was up 36.34, or 1.19%, to 3,100.52; and the S&P 500 was up 14.90, or 1.03%, to 1,455.03.
News For C;JNJ;KO;UNH;AUO;FOSL;RATE;CLWR;S From The Last 14 Days
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January 14, 2015
09:51 EDTJNJJohnson & Johnson unit says study shows consistent Xarelto safety
Johnson & Johnson unit Janssen announced that a new post-marketing study evaluating the safety of once-daily Xarelto shows, in patients with non-valvular atrial fibrillation, rates and patterns of major bleeding in routine clinical practice are generally consistent with those observed in Phase 3 clinical trials used to approve the medicine for this indication. The fifteen-month results, published today in Clinical Cardiology, represent initial findings from an ongoing, five-year, observational study of patients using Xarelto daily over the course of their lives.
09:46 EDTKOAckman says 'unlikely' to invest in McDonald's, Bloomberg reports
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09:36 EDTCActive equity options trading
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09:16 EDTCOn The Fly: Pre-market Movers
HIGHER: ZIOPHARM (ZIOP), up 53% after the company and Intrexon (XON) announced a licensing agreement with University of Texas. Intrexon shares are also up 12%... GameStop (GME), up 10.6% after reporting holiday SSS, providing guidance for the fourth quarter and fiscal 2014, and being upgraded at Pacific Crest... Smith Micro (SMSI), up 12.7% after reporting preliminary fourth quarter revenue and providing revenue guidance for the first quarter and fiscal 2015... BioCryst (BCRX), up 3.2% after receiving a positive opinion on EMA orphan drug designation for BCX4161... GoPro (GPRO), up 1% following analyst remarks that sell-off after yesterday's report on Apple (AAPL) patent was "overdone." DOWN AFTER EARNINGS: JPMorgan (JPM), down 2.7%... Wells Fargo (WFC), down 2.2%... Banking peers down as well, with Bank of America (BAC) down 2.8% and Citi (C) down 2%. ALSO LOWER: Tesla (TSLA), down 9% following comments made by CEO Elon Musk at an automotive conference in Detroit regarding a slowdown in China... New Media (NEWM), down 4.8% after 7M share spot secondary priced at $21.70... General Motors (GM), down 3% after giving 2015 guidance, saying it is on track to meet previously announced 2016 financial targets... Apple (AAPL), down 1% following lawsuit against Ericsson (ERIC) and countersuit filing.
08:50 EDTKOMonster Beverage upgraded to Outperform at Cowen
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08:25 EDTCTwo Dubai lenders among bidders for Citi consumer unit in Egypt, Bloomberg says
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06:04 EDTCCiti appoints CD Davies head of global Mortgage business
Citi yesterday announced that CD Davies has been appointed Head of Citiís Mortgage business globally. Davies joined Citi in March 2014. He will continue to report to Jane Fraser, CEO of CitiMortgage and U.S. Consumer and Commercial Banking. Davies was previously President and CEO of Wachovia Mortgage Corporation.
January 13, 2015
16:00 EDTJNJOptions Update; January 13, 2015
iPath S&P 500 VIX Short-Term Futures up 66c to 34.42. Option volume leaders: AAPL JNJ CELG WFM TSLA TWTR AMZN GILD according to Track Data.
15:51 EDTCSpringleaf, Apollo Global among bidders for OneMain, Bloomberg says
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15:12 EDTCU.S. Supreme Court decision gives homeowners leeway to rescind mortgage loans
In an unanimous ruling, the U.S. Supreme Court ruled on Jesinoski vs. Countrywide Home Loans that homeowners are allowed to rescind home mortgages within the three years allotted under the Truth in Lending Act of 1968 by providing written notice to his/her lender. The court ruled that the borrowers were not required to file suit against the lender, which the respondents, Countrywide, claimed. The notice of rescission was sufficient to clear the homeowners of any obligation to the loan, provided they do it within the allotted time. Countrywide Home Loans is a subsidiary of Bank of America (BAC). Other publicly traded companies in the banking space include Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
15:07 EDTCSpringleaf conducts due dillegence on OneMain, Bloomberg reports
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12:27 EDTCDOJ, EPA report proposed settlement regarding cleanup of Warren County, NJ site
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11:04 EDTCCitigroup January volatility elevated into Q4 and outlook
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10:16 EDTKOMonster Beverage rises as Stifel target hike outweighs Wells Fargo downgrade
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10:00 EDTJNJJanssen Biotech announces license agreement with Vedanta Biosciences
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09:36 EDTCActive equity options trading
Active equity options trading according to Track Data: AAPL AMD AA TWTR GILD C CELG TSLA GOOG
07:45 EDTJNJFierce Biotech to hold a breakfast meeting
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07:44 EDTCNationstar, non-bank lenders could get boost from refis, WSJ says
As a decline in interest rates and a reduction in federal loan fees boosts refinancing activity, smaller banks and non-bank lenders, such as Quicken Loans, loanDepot, and Nationstar Mortgage (NSM), may be in a better position than large banks to benefit, said The Wall Street Journal. Publicly traded large U.S. banks include Bank of America (BAC), Citi (C), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
07:13 EDTKOMonster Beverage price target raised to $130 from $115 at Stifel
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06:38 EDTCCiti cut consumer banking business, Reuters reports
Citi is cutting its consumer banking operations in some of the world's largest cities, according to Reuters. Last year, the bank decided to target 100 cities with retail banking services, down from its previous level of 120 cities, the news service stated. Reference Link
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