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Stock Market & Financial Investment News

News Breaks
October 16, 2012
12:14 EDTRATE, UNH, C, S, FOSL, KO, CLWR, AUO, JNJOn 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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July 22, 2015
12:53 EDTCFDIC announces $140M civil penalty against Citi's Banamex USA unit
The FDIC announced the assessment of a civil money penalty of $140M against Banamex USA, Century City, California, for violations of the Bank Secrecy Act and anti-money laundering laws and regulations. In a concurrent action, the California Department of Business Oversight assessed a civil money penalty of $40M. The FDIC's penalty of $140M will be satisfied in part by the CDBO's penalty. The FDIC's penalty will be paid to the United States Department of the Treasury. In taking this action, the FDIC determined that the bank failed to implement an effective BSA/AML Compliance Program over an extended period of time. The institution failed to retain a qualified and knowledgeable BSA officer and sufficient staff, maintain adequate internal controls reasonably designed to detect and report illicit financial transactions and other suspicious activities, provide sufficient BSA training, and conduct effective independent testing.
12:32 EDTKOOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as slides in a number of big name tech stocks following their earnings reports dominated the news flow and largely dictated the market's direction. ECONOMIC EVENTS: In the U.S., the FHFA home price index rose 0.4% to 222.8 in May, as expected. Existing home sales rose 3.2% to a 5.49M rate in June, better than the 0.9% increase that was expected. In Europe, the European Central Bank reportedly raised the cap on Greece's Emergency Liquidity Assistance by EUR900M to EUR90.4B, according to Bloomberg. COMPANY NEWS: The tech sector has been weak, headlined of course by a 5% pullback in shares of Apple (AAPL) after iPhone shipments in the just completed quarter and the company's sales forecast for the new quarter missed estimates. Adding to the negative tone in tech stocks, and contributing further to the decline in the Nasdaq, was the 3% drop seen in Microsoft (MSFT) shares after its quarterly report as well as Yahoo's (YHOO) 1% decline after its revenue outlook missed the consensus forecast... Shares of Boeing (BA) and Coca-Cola (KO) fared better than Dow peer Apple after each reported better than expected sales and profits, though neither stock was moving far from where they closed yesterday's trading. MAJOR MOVERS: Among the notable gainers was Thoratec (THOR), which rose 10% after the company agreed to be acquired by St. Jude Medical (STJ) for $3.4 billion in cash, or $63.50 per share. St. Jude shares advanced fractionally after the deal, which had been foreshadowed by media reports yesterday, was announced. Also higher following their earnings reports were Intuitive Surgical (ISRG), which gained 10%, Chipotle Mexican Grill (CMG), which advanced 8% and Whirlpool (WHR), which was up 6%. Among the noteworthy losers were a number of suppliers to Apple that declined in tandem with the tech giant after it reported a sequential drop in iPhone sales. Skyworks Solutions (SWKS), Cirrus Logic (CRUS), Qorvo (QRVO) and NXP Semiconductors (NXPI) were among the many semiconductor stocks that slid following Apple's report. Also sharply lower was antibody-based therapeutics maker XOMA (XOMA), which plunged more than 73% and was downgraded to Neutral at Piper Jaffray after a Phase III trial of its gevokizumab drug in patients with Behcet's disease uveitis did not meet its primary endpoint. INDEXES: Near midday, the Dow was down 82.22, or 0.46%, to 17,837.07, the Nasdaq was down 42.68, or 0.82%, to 5,165.44, and the S&P 500 was down 6.93, or 0.33%, to 2,112.28.
10:15 EDTJNJThoratec downgraded to Market Perform from Outperform at Northland
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09:46 EDTKOCoca-Cola CEO says on track to hit milestones across all spending areas
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07:38 EDTKOCoca-Cola rises 1.4% to $41.80 after Q2 earnings top estimates
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07:37 EDTKOCoca-Cola CEO says 'work to do,' but confident right plans in place
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07:36 EDTKOCoca-Cola reports Q2 global volume growth of 2%
Coca-Cola said global sparkling beverage volume growth in the quarter was led by 1% growth in brand Coca-Cola, 6% growth in Coca-Cola Zero, 3% growth in Sprite and 2% growth in Fanta. Growth in these brands was partially offset by a 7% decline in Diet Coke. The company gained global value and volume share in sparkling beverages in the quarter. Global still beverage volume growth in the quarter reflects 7% growth in ready-to-drink tea, 8% growth in packaged water and double-digit growth in value-added dairy. Volume growth in these categories was partially offset by a 1% decline in juice and juice drinks attributable to price increases taken to cover higher input costs and continued industry softness in certain markets. The company gained global value and volume share in still beverages, juice and juice drinks, ready-to-drink tea and sports drinks in the quarter.
07:35 EDTKOCoca-Cola now targeting FY15 net share repurchases of $2B-$2.5B
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07:34 EDTKOCoca-Cola sees currency to be 7 point headwind to Q3 revenue
For Q3, Coca-Cola estimates that currency will be an approximate 7 point headwind on net revenues, a 13 point headwind on operating income and a 10 point headwind on income before taxes.
07:34 EDTKOCoca-Cola backs comparable currency neutral growth expectations
Coca-Cola estimates that the net impact of structural items on FY15 results will be a 1 point headwind on both net revenues and income before taxes. The company expects fluctuations in foreign currency exchange rates to have an unfavorable impact on its reported results in 2015. Based on current spot rates, its existing hedge positions, and the cycling of its prior year rates, Coke estimates that currency will be an approximate 6 point headwind on net revenues, an 11 point headwind on operating income, and a 7 to 8 point headwind on income before taxes for the full year.
07:32 EDTKOCoca-Cola reports Q2 comparable EPS 63c, consensus 60c
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July 21, 2015
15:22 EDTKOCoca-Cola technical comments ahead of results
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15:02 EDTKONotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Coca-Cola (KO), consensus 60c... Boeing (BA), consensus $1.42... Abbott Laboratories (ABT), consensus 50c... Thermo Fisher Scientific (TMO), consensus $1.78... EMC (EMC), consensus 41c... Illinois Tool Works (ITW), consensus $1.28... St. Jude Medical (STJ), consensus $1.00... Northern Trust (NTRS), consensus 96c... Check Point Software (CHKP), consensus 95c... Polaris Industries (PII), consensus $1.58... Interpublic Group (IPG), consensus 27c... New York Community Bancorp (NYCB), consensus 26c... B/E Aerospace (BEAV), consensus 76c... Owens Corning (OC), consensus 54c... Knight Transportation (KNX), consensus 37c.
12:25 EDTKOCoca-Cola July weekly volatility elevated into Q2 and outlook
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10:58 EDTCCiti fined $70M, ordered by CFPB to provide $700M in relief
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10:01 EDTKOOn The Fly: Analyst Initiation Summary
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July 20, 2015
16:45 EDTKOCoca-Cola initiated with a Buy at Sterne Agee CRT
Target $46.
16:01 EDTCOptions Update; July 20, 2015
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13:03 EDTCFed proposes final rule on capital surcharges for largest U.S. banks
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July 19, 2015
19:12 EDTCFederal Reserve proposes changes to 'stress test' regulations
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