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News Breaks | | | | March 8, 2013 | | 12:09 EDT |  | P, ANN, KKR, SKUL, GDI, MXWL, MCD, C, STT, STI | On The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after a report showed employers added more jobs than expected and the unemployment rate fell last month. The market has moved in a narrow range for most of the morning, looking briefly like the early advance would be lost before steadying a resuming a move upward... ECONOMIC EVENTS: In the U.S., nonfarm payrolls climbed 236K in February, well above the forecast for the addition of 165K jobs. Also, the unemployment rate fell to 7.7% from 7.9%, which was a greater decline than expected. Wholesale inventories rose 1.2% January, versus expectations for a 0.3% advance in the month... COMPANY NEWS: Following the Federal Reserve's report on its latest "stress tests," in which it said the nation's largest banks are collectively in a much stronger capital position than before the financial crisis, Citigroup (C) was a notable advancer after announcing that its capital plan submitted to the Fed requested a $1.2B common stock buyback program as well as the maintenance of its current quarterly dividend of 1c. Citi shares rose about 2%, while shares of State Street (STT), up about 1%, and SunTrust (STI), up 2%, were also shown to be in good capital positions compared to regulatory minimum standards... McDonald's (MCD) shares rose 1.5% after the company reported its same-store sales fell 1.5% during February, which was not as steep a decline as expected by some analysts... Gardner Denver (GDI) announced it had agreed to be acquired by KKR (KKR) for $76 per share in cash, but shares only added about 1%, as the acquisition had been roundly telegraphed in recent media reports, with shares gaining about 5% over the last month... MAJOR MOVERS: Among the notable gainers was Pandora (P), which rose 16% after reporting stronger than expected fourth quarter revenues, announcing the resignation of its CEO, and receiving upgrades at Piper Jaffray and Albert Fried. Also higher were shares of Ann Inc (ANN), up over 8% after the company's Q4 report and FY13 revenue guidance beat consensus estimates. Among the noteworthy losers was Skullcandy (SKUL), which plummeted more than 22% after it provided disappointing guidance and its shares were downgraded by at least five firms. Also lower were shares of Maxwell (MXWL), down over 12% after the company announced it would restate results from FY11 and the first three quarters of FY12... INDICES: Near noon, The Dow was up 49.92, or 0.35%, to 14,379.41; the S&P 500 was up 4.50, or 0.29%, to 1,548.76; the Nasdaq was up 8.63, or 0.27%, to 3,240.72 | |
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News For C;STI;STT;MCD;GDI;KKR;P;SKUL;ANN;MXWL From The Last 14 Days Check below for free stories on C;STI;STT;MCD;GDI;KKR;P;SKUL;ANN;MXWL the last two weeks. |
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| June 18, 2013 | | 16:00 EDT |  | C | Options Update; June 18, 2013
 Subscribe for More Information | | | 14:09 EDT |  | MCD | McDonald's to sell premium hamburgers in Japan, Japan Times reports
Subscribe for More Information | | | 10:49 EDT | | KKR | Siemens seeks private equity offers for Nokia Siemens Networks, Reuters says
Subscribe for More Information | | | 07:29 EDT |  | C | Securities Industry and Financial Markets Association to host a conference
Subscribe for More Information | | | 07:14 EDT |  | SKUL | Skullcandy to begin search for new CFO
Subscribe for More Information | | | 07:13 EDT | | SKUL | Skullcandy promotes Sam Paschel to new Chief Commercial Officer position
Subscribe for More Information | | | 07:12 EDT | | SKUL | Skullcandy to align product, marketing, sales functions
Subscribe for More Information | | | June 17, 2013 | | 16:00 EDT | | C | Options Update; June 17, 2013
Subscribe for More Information | | | 14:27 EDT | | C | Citigroup May net charge-offs 3.00% vs. 3.11% last month
Subscribe for More Information | | | 14:20 EDT | | C | Criminal charges likely in Libor case, WSJ reports
Subscribe for More Information | | | | 10:43 EDT | | P | Pandora radio station purchase angers music indutry, The Hill reports
Pandora's purchase of a South Dakota radio station has angered the music industry, which views the move as an attempt by the company to pay lower music royalty fees, The Hill reported on Friday night. Pandora said that the purchase would help it lower its music royalties, the website stated. Reference Link | | | 07:23 EDT | | MCD | Jefferies to host a conference
Subscribe for More Information | | | June 14, 2013 | | 10:10 EDT |  | STI | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Express (AXP) downgraded to Equal Weight from Overweight at Barclays... AngloGold (AU) downgraded to Sell from Neutral at UBS... DuPont (DD) downgraded to Neutral from Buy at BofA/Merrill... Myriad Genetics (MYGN) downgraded to Neutral from Buy at BofA/Merrill... Progress Software (PRGS) downgraded to Hold from Buy at Needham... Rubicon (RBCN) downgraded to Sell from Neutral at Goldman... Southern Company (SO) downgraded to Hold from Buy at Jefferies... SunTrust (STI) downgraded to Neutral from Buy at UBS... Wells Fargo (WFC) downgraded to Neutral from Buy at Sterne Agee... FIS (FIS) downgraded to Neutral from Outperform at RW Baird... SM Energy (SM) downgraded to Hold from Buy at Societe Generale..Wells Fargo (WFC) downgraded at Sterne Agee. | | | 07:23 EDT | | KKR | Siemens considers deal for Nokia Siemens, WSJ reports
Subscribe for More Information | | | 06:57 EDT | | P | Pandora sued by BMI over royalty rates, Forbes says
Subscribe for More Information | | | 06:41 EDT | | STI | SunTrust downgraded to Neutral from Buy at UBS
UBS downgraded SunTrust due to valuation. Price target is $34. | | | June 13, 2013 | | 09:37 EDT | | C | Active equity option families trading on open
Subscribe for More Information | | | 07:05 EDT |  | C | Citigroup credit quality trends increase confidence, says Credit Suisse
Subscribe for More Information | | | 05:52 EDT | | C | Bank seizures of U.S. homes increased in May, Reuters reports
Subscribe for More Information | | | June 12, 2013 | | 16:02 EDT | | C | Options Update; June 12, 2013
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