New User:

-or-
Username:
Password:
Forgot your password?

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
Check below for free stories on CAT;HES;KERX;JOSB;MW the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
April 20, 2014
16:53 EDTCATCaterpillar looks to halt production at facility in France, WSJ says
Subscribe for More Information
April 10, 2014
07:38 EDTJOSB, MWMen's Wearhouse extends expiration date of Jos. A. Bank offer to April 23
Subscribe for More Information
April 9, 2014
11:22 EDTKERXKeryx June volatility elevated into PDUFA
Subscribe for More Information
09:33 EDTCATBofA/Merrill's industrial/mining analysts hold analyst/industry conference call
Subscribe for More Information
08:35 EDTKERXKeryx Zerenex phase 2 data presentation selected for Kidney Foundation meeting
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use