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Stock Market & Financial Investment News

News Breaks
January 28, 2013
12:39 EDTCAT, HES, KERX, JOSB, MWOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as some positive durable goods data was offset by disappointing news about pending home sales in December. The Nasdaq was able to rise about 0.3% while the Dow and S&P lagged, but were not far in negative territory... ECONOMIC EVENTS: In the U.S., orders for durable goods rose 4.6% in December to a seasonally adjusted $230.74B, versus an expected increase of 2.0%. The Pending Home Sales report for December showed a decline of 4.3%, versus expectations for no change from the prior month. Also, over the weekend, China's National Bureau of Statistics released figures that showed industrial earnings grew 20.4% in Q4 after negative growth over the first three quarters of the year... COMPANY NEWS: Caterpillar (CAT) shares were up about 2% near noon in spite of reporting headline sales and profit figures that missed consensus and providing guidance for the upcoming year that spans a wide range of possible outcomes. The company's Q4 reported EPS of $1.04 missed the consensus forecast of $1.70, but included a previously disclosed charge of $580M, or 87c per share, for a writedown of a subsidiary. The company said it expects FY13 EPS anywhere between $7.00 to $9.00 and gave a similarly wide range of projected sales for the upcoming year, citing uncertainty in the global economy... MAJOR MOVERS: Among the notable gainers was Hess (HES), which rose 5% after the company said it has hired Goldman Sachs (GS) to pursue a sale of its terminal network. Hess also announced it has completed its exit of the refinery business and that shareholder Elliott Associates may seek to acquire additional Hess shares valued at more than $800M. Also higher was Keryx Biopharmaceuticals (KERX), which jumped over 73% after the company's successful top-line results from a long-term study of one of its drugs prompted research firms Brean Capital, Roth Capital and Maxim to raise their price targets on Keryx shares. Among the noteworthy losers was JoS. A. Bank (JOSB), which tumbled nearly 18% after warning that its FY12 net income would likely drop about 20% compared with the previous year. Also lower after its announcement were shares of fellow suit retailer The Men's Wearhouse (MW), which fell more than 6%... INDICES: Near noon, the Dow was down 11.18, or 0.08%, to 13,884.80; the Nasdaq was up 9.22, or 0.29%, to 3,158.93; and the S&P 500 was down 1.54, or 0.10%, to 1,501.42.
News For CAT;HES;KERX;JOSB;MW From The Last 14 Days
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July 24, 2014
12:32 EDTCATOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday amid another wave of earnings reports, headlined by Facebook (FB), Caterpillar (CAT), General Motors (GM) and Ford (F). The market has moved in a narrow range as investors try to digest the bevy of earnings reports that were released last night and this morning. The market has also had to battle a negative economic report on new home sales, which not only disappointed in June but saw the prior month revised lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 19K to 284K in the week ended July 19. While the BLS said there were no special factors in the claims data, they also reminded that the numbers can be very volatile at this time of year due in part to auto shutdowns. Markit's flash U.S. PMI for July dipped 1 point to 56.3 from 57.3 in June. June new home sales fell 8.1% to a 406K rate, which was worse than expected, and May's data was downwardly revised. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 52 in July from 50.7 a month earlier. COMPANY NEWS: Facebook achieved a new all-time high and its share price eclipsed $76, a level that was more than double the price of its initial public offering, after its revenue and profits beat expectations. After the report a number of Wall Street analysts hiked their price targets on the stock, with Jefferies and Topeka both raising their targets on the social network operator's stock to $100... Shares of General Motors declined more than 3% after its earnings per share, excluding special items, missed consensus expectations and its revenue also fell short of the analysts' forecast. The company took a $400M special charge related to its ignition switch compensation program, but cautioned that there is no cap on this program and it is possible the total cost could increase by another $200M. Also, GM recorded a non-cash pre-tax special charge of about $900M in the second quarter for the estimated costs of future possible recalls for "up to the next 10 years on 30M GM vehicles on the road today." In contrast, Ford reported earnings per share, excluding special items, and revenue that beat expectations and its stock rose 1%... Caterpillar dropped over 3% after its quarterly revenue missed expectations and it narrowed its outlook for full-year revenue. However, the heavy machine maker's earnings did beat the consensus forecast and it raised it fiscal year profit outlook. MAJOR MOVERS: Among the notable gainers was Sodastream (SODA), which jumped nearly 20% after Bloomberg said the home beverage system maker is in talks with an investment firm on deal that would make it a private company and value it at about $828M, or $40 per share. Also higher following their earnings reports were Under Armour (UA), which rose 15%, and Dr. Pepper Snapple (DPS), which gained 5%. Among the noteworthy losers following their earnings reports were homebuilder DR Horton (DHI), which fell 10%, online travel company TripAdvisor (TRIP), which dropped 9%, and semiconductor chip maker Qualcomm (QCOM), which slid 6%. Also lower was review service operator Angie's List (ANGI), which plunged 19% after reporting second quarter losses per share and revenue that were worse than expected, prompting a number of downgrades of its stock by Wall Street analysts. INDEXES: Near midday, the Dow was up 8.25, or 0.05%, to 17,094.88, the Nasdaq was up 6.10, or 0.14%, to 4,479.80, and the S&P 500 was up 2.98, or 0.15%, to 1,989.99.
11:14 EDTCATCaterpillar says Q3 likely to be weakest profit quarter of year
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09:16 EDTCATOn The Fly: Pre-market Movers
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07:53 EDTCATCaterpillar down 1.3% after Q2 earnings, guidance revision
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07:43 EDTCATCaterpillar Financial reports Q2 revenue $728M
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07:38 EDTCATCaterpillar sees $2.5B stock repurchase in Q3
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07:37 EDTCATCaterpillar raises FY14 EPS view to $6.20 from $6.10, consensus $6.23
Narrows FY14 revenue view to $54B-$56B from $53.2B-$58.8B, consensus $56.23B. Most of the change in the mid-point of the range is in Construction Industries and reflects weaker sales in China, the CIS and in the Africa/Middle East region. The expectation for restructuring costs in 2014 is now about $400M—the bottom end of the $400M-$500M range that was previously expected. The company said, "After a sizable drop in sales and revenues in 2013, our ongoing forecasting process has, since the third quarter of last year, pegged 2014 as a roughly ­flat year for sales. That's still the case. There have been plusses and minuses, but they've both been relatively muted in the context of our total sales and revenues. While we'd certainly like to see improvement in economies around the world, and more specifically, the mining industry, the stability that we've seen this year has helped. Even though sales and revenues are relatively flat compared to last year, we've improved the bottom line with better execution and continued focus on costs."
07:34 EDTCATCaterpillar raises FY14 EPS view, narrows FY14 revenue outlook
07:33 EDTCATCaterpillar reports Q2 EPS $1.57, consensus $1.53
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July 23, 2014
15:30 EDTCATNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Ford (F), consensus 36c; General Motors (GM), consensus 58c; Potash (POT), consensus 46c; Caterpillar (CAT), consensus $1.52; 3M (MMM), consensus $1.91; Union Pacific (UNP), consensus $1.43; Bristol-Myers Squibb (BMY), consensus 44c; Eli Lilly (LLY), consensus 65c; Celgene (CELG), consensus 89c; Precision Castparts (PCP), consensus $3.35; Raytheon (RTN), consensus $1.59; Noble Energy (NBL), consensus 79c; Hershey (HSY), consensus 76c; Southwest Airlines (LUV), consensus 61c; Boston Scientific (BSX), consensus 19c; JetBlue (JBLU), consensus 19c.
12:59 EDTCATEarnings Preview: Caterpillar shares near 52-week high ahead of Q2 report
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10:47 EDTCATCaterpillar July weekly volatility elevated into Q2 and outlook
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10:44 EDTCATCaterpillar read-through modest negative for Cummins, says Wells Fargo
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10:28 EDTCATCaterpillar reports 3-month end June retail machine sales down 10%
Caterpillar disclosed in a regulatory filing earlier that its total retail sales of machines for the 3-month rolling period ended June were down 10%. In the rolling period, retail machine sales were down 30% in Asia/Pacific, down 21% in EAME, down 18% in Latin America and up 14% in North America. Total energy & transportation retail sales for the 3-month rolling period were down 10%.
10:02 EDTMWOn The Fly: Analyst Initiation Summary
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08:53 EDTMWMen's Wearhouse reinstated with a Buy at Goldman
Target $72.
July 21, 2014
09:22 EDTCATCaterpillar confident in chances in tax suit, WSJ says
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07:41 EDTCATWhistleblowers allege bogus repairs by Caterpillar unit, WSJ says
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July 20, 2014
11:58 EDTCATCaterpillar, five others should benefit from global recovery, Barron's says
Caterpillar (CAT), Teradata (TDC), Kennametal (KMT), Capital One Financial (COF), T. Rowe Price Group (TROW), and Chesapeake Energy (CHK) are all relatively cheap and should benefit from global recovery, Barron's contends in its cover article. Reference Link
July 15, 2014
10:28 EDTKERXHigh option volume stocks
High option volume stocks: TRGT ALB UUP ADHD ROC WWW CTRL KERX IMGN NI
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