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Stock Market & Financial Investment News

News Breaks
April 14, 2014
16:24 EDTAKBA, EW, RTRX, GDP, TWTR, NQ, MDT, COn The Fly: Closing Wrap
Stocks on Wall Street were higher after U.S. retail sales for March surprised to the upside. The averages spent much of the session higher before losing altitude during the afternoon, with the Nasdaq even turning negative near 3:00 pm ET. An aggressive rally took hold in the final 30 minutes of trade, with the indexes closing just off their best levels of the day. ECONOMIC EVENTS: In the U.S., retail sales climbed 1.1% in March, beating expectations for an increase of 0.8%. Retail sales excluding autos rose 0.7%, which also beat estimates. Business inventories grew 0.4% in February, versus the consensus forecast for a 0.5% gain. In Europe, industrial production across the 18 country shared currency bloc rose by 0.2% in February from the prior month and by 1.7% from the same month of the prior year. COMPANY NEWS: Citigroup (C) gained $1.99, or 4.36%, to $47.67 after its adjusted first quarter earnings easily beat the consensus forecast. CEO Michael Corbat said the company delivered strong results despite a quarter "that was difficult," which included the bank surprisingly having its capital plan rejected by the Federal Reserve and the disclosure of fraud in its Mexican unit... Twitter (TWTR) shares held up better than they have in recent sessions after its co-founders, Jack Dorsey and Evan Williams, along with CEO Richard Costolo, disclosed that they have no plans to sell any of their shares as part of the May 5 lockup expiration... Edwards Lifesciences (EW) gained $8.03, or 11.0%, to $81.00 after being granted a preliminary injunction limiting the sale of Medtronic's (MDT) CoreValve system in the U.S. due to patent infringement. The ruling triggered upgrades of Edwards' shares from at least two analyst firms. Medtronic, which received at least one downgrade following the news, slipped $1.12, or 1.89%, to $58.08. MAJOR MOVERS: Among the notable gainers was Goodrich Petroleum (GDP), which surged $5.56, or 30.22%, to $23.96 after the company reported strong results for a well it drilled in Louisiana. Also higher was Akebia (AKBA), which rose $4.28, or 25.39%, to $21.14 after no fewer than four analyst firms initiated coverage on the shares with a Buy or equivalent rating. Among the noteworthy losers was NQ Mobile (NQ), which fell another $1.65, or 12.99%, to $11.05, adding to the 20% decline it suffered Friday after the company disclosed accounting errors along with its mixed earnings report. Short-seller Muddy Waters, which revealed a public short position on NQ in October, released a report today saying NQ's disappointing quarter was driven by heightened auditor scrutiny. Also lower Retrophin (RTRX), which dropped $2.35, or 15.3%, to $13.01 despite raising its fiscal 2014 revenue view after announcing that the FDA is unwilling to grant expedited access for children to the company's RE-024 treatment. INDEXES: The Dow was up 146.49, or 0.91%, to 16,173.24, the Nasdaq was up 22.96, or 0.57%, to 4,022.69, and the S&P 500 was up 14.92, or 0.82%, to 1,830.61.
News For C;TWTR;EW;MDT;GDP;AKBA;NQ;RTRX From The Last 14 Days
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June 24, 2015
16:00 EDTTWTRActionable Options for Wednesday, June, 24
iPath S&P 500 VIX Short-Term Futures up 30c to 17.32 Option volume leaders: AAPL FB NFLX BAC VALE MU BABA WMB T F EBAY FCX TWTR BBRY
14:13 EDTTWTRApple blocks use of app data to target ads, The Information reports
Apple (AAPL) is "quietly moving" to block companies from accessing data from other, unrelated apps, a practice which was used to target ads, says The Information. The report notes that Facebook (FB) and Twitter (TWTR) often analyze information from other apps on a user's phone in order to better target ads. Reference Link
10:26 EDTTWTRStocks with call strike movement; TWTR JCP
Twitter (TWTR) December 40 call option implied volatility increased 1% to 44, J.C. Penney (JCP) November 20 call option implied volatility decreased 5% to 42 according to IVolatility.
10:00 EDTCOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
06:37 EDTCDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
06:27 EDTCCiti downgraded to Hold from Buy at Deutsche Bank
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June 23, 2015
17:03 EDTMDTMedtronic implements voluntary recall for certain lots of Covidien Shiley tubes
Medtronic announced that on May 8, it began notifying hospitals and distributors worldwide that affected lots of its Covidien Shiley tracheostomy tubes were formed with a wider-angle bend than standard models manufactured after November 29, 2012. The company initiated the field action following a small number of customer complaints that included reports of 12 serious patient injuries, such as breathing difficulties that impacted oxygen levels immediately upon tube placement or discomfort. Replacement of the tracheostomy tube with product manufactured prior to November 29, 2012 addressed the patient breathing difficulty or discomfort. The notification requested all customers and distributors to quarantine and discontinue use of all potentially affected units and return the affected product to the company as soon as possible for credit. Medtronic also took the necessary steps to prevent future shipments of the recalled products. The company also notified regulatory agencies around the world, as appropriate. Since November 29, 2012, Shiley tracheostomy tubes were shipped into Australia, Belgium, Canada, Chile, Germany, Israel, Italy, Japan, Saudi Arabia, Singapore, South Africa, Turkey, Uruguay and the United States of America.
16:00 EDTTWTROptions Update; June 23, 2015
iPath S&P 500 VIX Short-Term Futures down 46c to 17. Option volume leaders: AAPL FB AAPL T BAC MU BTU WMB AMZN TWTR BBRY
11:20 EDTMDT, EWMedtronic competitive with Edwards after approval, says Wells Fargo
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09:36 EDTC, TWTRActive equity options trading on open
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09:22 EDTMDTMedtronic announces FDA approval for new TAVR system
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07:25 EDTEW, MDTPiper Jaffray to hold a summit
2015 Piper Jaffray Heartland Summit is being held in Minneapolis on June 23-24.
07:17 EDTEWFeedback on Edwards Lifesciences Centera 'very positive,' says Wells Fargo
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06:25 EDTCBarclays-Stifel deal marks end of Lehman legacy, Business Insider reports
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June 22, 2015
16:00 EDTTWTROptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
11:21 EDTTWTRStocks with call strike movement; TWTR BBRY
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10:00 EDTAKBAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Akebia (AKBA) initiated with an Outperform at JMP Securities... Barracuda Networks (CUDA) initiated with a Buy at Summit Research... BioLineRx (BLRX) initiated with an Outperform at JMP Securities... Cabela's (CAB) initiated with an Outperform at Barrington... Chemours (CC) initiated with a Buy at Jefferies... Communications Sales & Leasing (CSAL) initiated with an Overweight at JPMorgan... E.W. Scripps (SSP) initiated with a Hold at Evercore ISI... EQT Corporation (EQT) reinstated with an Overweight at Barclays... EQT GP (EQGP) initiated with an Outperform at Credit Suisse... EQT Midstream Partners (EQM) initiated with a Buy at Deutsche Bank... Eagle Pharmaceuticals (EGRX) initiated with an Outperform at RBC Capital... Energen (EGN) initiated with a Buy at KLR Group... Ignyta (RXDX) initiated with an Overweight at Piper Jaffray... International Game (IGT) initiated with a Buy at BofA/Merrill... Leju (LEJU) initiated with an Overweight at Barclays... Micron (MU) initiated with an Outperform at Cowen... People's Utah Bancorp (PUB) initiated with a Buy at DA Davidson... SouFun (SFUN) initiated with an Overweight at Barclays... Turquoise Hill (TRQ) initiated with an Outperform at BMO Capital.
09:16 EDTTWTRTwitter retains Spencer Stuart to assist in CEO search process, CNBC says
According to a tweet from CNBC, Twitter has retained Spencer Stuart to assist in the CEO search process. Twitter will reportedly only consider "full-time" candidates. Reference Link
07:50 EDTAKBAAkebia initiated with an Outperform at JMP Securities
Target $24.
06:05 EDTGDPGoodrich Petroleum commences completion operations on 2 of 6 wells in TMS
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