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Stock Market & Financial Investment News

News Breaks
April 14, 2014
16:24 EDTNQ, MDT, C, AKBA, EW, RTRX, GDP, TWTROn 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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July 16, 2015
09:08 EDTCOn The Fly: Pre-market Movers
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08:58 EDTCCiti says 'tracking well' to 2015 financial targets
Citigroup says "tracking well" to its 2015 financial targets, with modest revenue growth and positive operating leverage in Citicorp; says Citicorp had efficiency ratio of 55%, Citigroup ROA of 103 bps in 1H15. Says Q2 results show continued progress in challenging environment. Says gaining wallet share, improving efficiency of core franchise, winding down non-core assets, maintaining balance sheet discipline, utilizing deferred tax assets. Comments from slides that will be presented on the Q2 earnings conference call.
08:04 EDTCCiti reports Q2 Citicorp revenue $17.8B, up 2% from a year ago
Reports Q2 Global Consumer Banking revenue $8.5B. ICG revenues increased 6% from the prior year period to $8.9B. Citi Holdings revenues of $1.7B in the second quarter 2015 included CVA/DVA of $9M, compared to negative $1M in the prior year period.
08:03 EDTCCiti reports book value per share of $68.27 at end Q2
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08:02 EDTCCiti CEO says Q2 results show 'very balanced performance' across business lines
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08:01 EDTCCiti reports Q2 common equity tier 1 capital ratio 11.4%
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08:00 EDTCCiti reports Q2 EPS ex-CVA/DVA $1.45, consensus $1.34
Reports Q2 revenue $19.5B, consensus $19.11B. CVA/DVA was $312M, or $196M, in the second quarter 2015, compared to negative $33M in the prior year period. Second quarter 2014 results also included the impact of a $3.8B charge, or $3.7 billion after-tax, to settle legacy RMBS and CDO-related claims.5 Excluding CVA/DVA, revenues were $19.2B, down 2% from the prior year period. Excluding CVA/DVA and the impact of the mortgage settlement in the prior year period, earnings were $1.45 per diluted share, up 17% from prior year earnings of $1.24 per diluted share. Including CVA/DVA, EPS was $1.51.
07:42 EDTMDTMedtronic upgraded to Buy from Neutral at BTIG
BTIG upgraded Medtronic to Buy with a $89 price target. The firm believes the recent pullback has provided a buying opportunity and views the company as well positioned for growth with revenue upside, strong cash deployment, and more Covidien synergies than some expect.
05:54 EDTMDTMedtronic recalls Shiley neonatal, pediatric tracheostomy tubes
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July 15, 2015
16:00 EDTC, TWTROptions Update; July 15, 2015
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15:27 EDTCCiti July 56.5 straddle priced for 2.4% movement into Q2
14:53 EDTCNotable companies reporting before tomorrow's open
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14:05 EDTCCiti reports June credit loss 2.49% vs. 2.86% last month
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13:56 EDTCEarnings Watch: Analysts mixed on Citi after settlements, asset sales
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13:52 EDTTWTRSoftbank COO says would be interested in Twitter 'at right price,' Fortune says
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13:50 EDTCEarnings Watch: Goldman Sachs to report after last quarter's earnings beat
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12:18 EDTTWTRTwitter rolls out data dashboard for all users
In a blog post the company said: "Today, we’re continuing to roll out to all users the Twitter data dashboard — a new tool to help you monitor and manage your account....Now, your Twitter data dashboard — which you can access from the settings menu on twitter.com — shows your account activation details, the devices that have accessed your account and your recent login history. With this information, you can quickly review your account activity and verify that everything looks the way it should." Reference Link
07:42 EDTRTRXRetrophin management to meet with Deutsche Bank
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07:29 EDTMDTAmerican Orthopaedic Foot & Ankle Society to hold annual meeting
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06:29 EDTTWTREvan Williams would leave Twitter board if 3 former CEOs not preferred, WSJ says
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