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Stock Market & Financial Investment News

News Breaks
October 16, 2012
12:14 EDTCLWR, AUO, JNJ, RATE, UNH, C, S, FOSL, KOOn 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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November 12, 2014
06:05 EDTCFCA fines five banks $1.7B over FX trading operations
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November 11, 2014
16:23 EDTFOSLFossil higher by almost 15% to $119.40 after reporting Q3 results, share buyback
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16:18 EDTFOSLFossil breaks out following results
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16:08 EDTFOSLFossil announces new $1B share repurchase program
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16:07 EDTFOSLFossil narrows FY14 EPS view to $7-$7.30 from $6.95-$7.35, consensus $7.16
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16:04 EDTFOSLFossil sees Q4 EPS $2.91-$3.21, consensus $3.16
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16:03 EDTFOSLFossil reports Q3 EPS $1.96 , consensus $1.82
Reports Q3 revenue $894M, consensus $879.05M.
16:02 EDTFOSLMichael Kors, Fossil renew global licensing agreement
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15:25 EDTFOSLNotable companies reporting after market close
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14:30 EDTCBanks to be hit with billions in fines for currency manipulation, Telegraph says
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14:14 EDTFOSLFossil November weekly 103 straddle priced for 7.6% move into Q3
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14:10 EDTFOSLFossil technical remarks ahead of results
In the prior three months the shares have underperformed the broader averages, trading up 1%. The trading range has been similar to that of the past six months, with the range largely contained between $95 at the low and $105 at the high. Shares are trading close to the range high. If the news is strongly positive, there could be a breakout above that $105 area. Next upside objectives based on resistance levels would be at $108.08 and $111.20. The latter level is particularly important technically as it is the top of the bearish gap down from May. A breakout above that level would put the shares back on a more bullish footing longer-term, with next resistance at $116.31. Upside would likely additionally be fueled by the large short-base in the name at over 12.7% of the float short on stronger than expected results or guidance. If the news fails to move shares higher, or is a disappointment, the recent uptrend off the mid-October low would likely be broken. Support would be at $99.44, $95, and $91.84 which is the 52-week low.
12:55 EDTUNHWorkarounds to likely protect insurers from Supreme Court decision, says Wedbush
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09:37 EDTCActive equity options trading
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07:14 EDTCJudge allows Citigroup to process next Argentina bond payout, Reuters reports
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November 10, 2014
07:44 EDTJNJJohnson & Johnson looks for acquisitions to help expand in China, WSJ says
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06:46 EDTCRegulators set new capital buffer rule for banks, Reuters reports
Global banks should have buffers of bonds or equity worth 16%-20% of their risk-weighted assets, beginning in January 2019, The Financial Stability Board decided, according to Reuters. The board said the buffer would prevent the need for government bailouts, the news service explained. Publicly traded global banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) Wells Fargo (WFC), Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), RBS (RBS) and UBS (UBS). Reference Link
06:37 EDTCSumitomo Mitsui in lead for Citigroup's Japan retail operations, WSJ reports
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06:18 EDTCUBS to settle misconduct allegations at precious metals trading unit, FT reports
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November 8, 2014
20:17 EDTSAT&T could be the best bet of telecom stocks, Barron's says
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