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Stock Market & Financial Investment News

News Breaks
March 4, 2012
14:32 EDTCSCO, MON, GS, INTC, CVX, T, JPM, PFE, EXC, MSFT, ZION, RF, FITB, WFC, CNeuberger's value hunter Salzmann likes Citigroup and Microsoft, Barron's says
Barron's profiled Neuberger Berman's new large-cap value specialist Eli Salzmann who was recruited 13 months ago to restore the firms' historically strong large-cap value franchise. Salzmann is a traditional value manager who aims to beat the Russell 1000 Value Index over the next few years. He searches for companies that have depressed earnings relative to their true mid-economic-cycle earnings. Some of his favorites are U.S. banks, many of which are trading below tangible book value despite a recent surge in the sector. Salzmann started buying banks late last year as they began to benefit from the troubles in Europe. He likes Citigroup ( C ) and Wells Fargo (WFC) -- and has been buying shares of big regional banks, such as Fifth Third Bank (FITB), Regions Financial (RF) and Zions Bancorp (ZION). Salzmann is also bullish on large tech stocks, which are trading at about 10x earnings, have strong balance sheets and could benefit as capital spending increases. A favorite is Microsoft (MSFT). Salzmann expects the stock to see $40 over the next 12 - 24 months. One last pick: though he's generally negative on utilities, Salzmann like Exelon Generation (EXC). Other holdings: PFE, JPM, T, CVX, INTC, GS, MON and CSCO. Reference Link
News For C;WFC;FITB;RF;ZION;MSFT;EXC;PFE;JPM;T;CVX;INTC;GS;MON;CSCO From The Last 14 Days
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October 9, 2014
10:00 EDTMSFTOn The Fly: Analyst Initiation Summary
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09:38 EDTMSFT, CActive equity options trading on open
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09:06 EDTCVXChevron names Francis Chief Governance Officer to succeed Beebe
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09:04 EDTCVXChevron names Francis Chief Governance Officer
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09:01 EDTMSFTSony moves step further toward sale of PS4 in China, WSJ says
Sony (SNE), which seeks to join Microsoft (MSFT) in selling video game consoles in China, may see a partner company start packaging its consoles in the nation in December, said The Wall Street Journal, citing a filing posted by a Sony local partner on the official website of Shanghai’s free-trade zone. A Sony spokesperson said the facility's ability to package 200,000 consoles a year, which was communicated in the filing, does not represent an actual business plan and declined to comment further on Sony’s plans. Reference Link
08:53 EDTMSFTAbout 1,000 workers went on strike for several hours at Foxconn plant, WSJ says
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08:21 EDTGSGoldman, Credit Suisse invest in digital surveillance start-up, Bloomberg says
A group of banks, led by Goldman Sachs (GS) and Credit Suisse (CS), invested $24M in Digital Reasoning, a data analytics start-up whose CEO, Tim Estes, said the banks want a way to surveil millions of e-mails, instant messages, and transcripts of calls to spot suspicious behavior "when it happens, not in an investigation three years later.” Reference Link
08:03 EDTCVXCBI joint venture with Chevron wins technology award in Bahrain
Chicago Bridge & Iron (CBI) and Chevron's (CVX) joint venture Chevron Lummus Global has been awarded a contract in excess of $100M by Bahrain Petroleum Co. The scope of work includes the license of its LC-Fining and Isocracking technologies and engineering design packages for the new residue hydrocracking and vacuum gasoil hydrocracking units for the Bapco Modernization Program.
07:03 EDTINTCIntel quarter to be in-line or modestly better, says Piper Jaffray
Piper Jaffray expects Intel's quarterly results on October 14 to be in-line to modestly above consensus. The firm's channel checks indicate PC demand trends will remain stable into year-end amid solid corporate demand. Piper reiterates an Overweight rating on Intel with a $37 price target.
06:52 EDTCSCOTechnology producer settles China facility demonstrations, Reuters says
Hon Hai Precision Industry confirmed that it had settled a demonstration which involved close to 1K staff members at its Chongqing plant in China, and noted that manufacturing at the facility was not affected by the strike, according to Reuters, citing a statement from the company. Hon Hai constructs Apple (AAPL) products, as well as HP (HPQ) and Cisco (CSCO) computers and servers. The Chongqing facility isn't listed by Apple as one of its certified suppliers. Reference Link
06:45 EDTJPMBofA finalizes oil financing agreement with PES, Reuters says
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06:42 EDTMSFTMicrosoft CEO admits 'mistakes' with Windows 8, Business Insider reports
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06:41 EDTMSFTMicrosoft initiated with a Market Perform at BMO Capital
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06:40 EDTJPM, C, RFSource of JPMorgan cyberattack still unclear, NY Times says
The source of the cyberattack on JPMorgan (JPM) and other U.S. financial institutions this summer is still unclear, according to The New York Times. The hackers may have tried to hit about a dozen financial institutions , and E-Trade(ETFC) and Fidelity Investments may have been victimized in some way, the newspaper stated, citing an unnamed source who was briefed on the matter. At least five other banks, including Citigroup (C), HSBC (HBC) and Regions Financial (RF), discovered that one of the web addresses used by those who hacked JPMorgan tried to penetrate their systems, The Times quoted unnamed sources briefed on the matter as saying. Publicly traded companies in the space include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC). Reference Link
06:39 EDTRF, JPM, CFidelity attacked by JPMorgan hackers, but no data stolen, FT reports
Fidelity Investments was among 13 financial institutions attacked by hackers who are believed to have been responsible for a breach at JPMorgan Chase, but there is no indication that Fidelity customer data were stolen, the Financial Times reports, citing two sources. Reference Link
06:37 EDTC, RF, JPMJPMorgan hackers linked to 13 other possible breaches, Bloomberg says
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06:35 EDTCCitigroup to return $16M to customers for fees on investment accounts, WSJ says
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06:33 EDTCCitigroup 2015 consensus may be 10% too high, says Deutsche Bank
Deutsche Bank believes the IPO of OneMain, the consumer finance unit within Citi Holdings, and higher expenses create 10% risk to the 2015 consensus estimate of $5.40 for Citigroup. Deutsche says shedding OneMain would lower Citigroup's (C) annual earnings by about 20c. The firm says the bank's Q3 results could top expectations, however, on better than expected currency trading. Deutsche continues to prefer Bank of America (BAC) to Citi, saying its confident consensus estimates for the former are reasonable. It has a Hold rating on Citi and Buy rating on Bank of America.
06:31 EDTMSFTFiling says Sony to begin console packaging in China, Bloomberg says
A filing on the website of the China Pilot Free Trade Zone said that Sony (SNE) is aiming to begin packaging over 200K new video game consoles starting in December in China, according to Bloomberg, citing the filing which was verified as authentic by a spokesman for Sony Computer Entertainment. The company is looking to accumulate sales in the country as the end of a 14-year ban on the devices approaches. Microsoft (MSFT) already began selling Xbox Ones in China. Reference Link
06:24 EDTMSFTMicrosoft rumored to cancel Surface tablet business, DigiTimes reports
Microsoft may be planning to cancel the Surface tablet business as it continues to see weak sales for its Surface Pro 3 tablet, reports DigiTimes. According to sources from the upstream supply chain, the first and second generation Surface tablets are estimated to have created losses of about $1.7B. Reference Link
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