New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 27, 2014
12:35 EDTCAT, MRK, GAME, RHI, XRX, GERN, DB, CRZBY, CRARYOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as a decline in new home sales last month more than offset any positive momentum built in the early hours by Caterpillar's (CAT) better than expected earning report. Stocks began the week in positive territory, briefly bouncing back from last week’s sell-off, but the market resumed its downward trend by the time the larger than expected drop in new home sales was reported near 10 am ET. As the lunch hour approached, the averages were all in the red and stood near session lows. ECONOMIC EVENTS: In the U.S., new home sales dropped 7% to a 414K rate in December from a downwardly revised 445K rate in November, missing expectations. However, the report may have been somewhat discounted as largely due to the extreme weather seen in many markets during the month. In Europe, the Ifo institute’s German business confidence measure beat economists’ forecasts and rose to its highest level in more than two years with a 110.6 reading in January. Also, the Organization for Economic Cooperation and Development reportedly estimated that European banks have a combined capital shortfall of about 84 billion euros, with Credit Agricole (CRARY), Deutsche Bank (DB) and Commerzbank (CRZBY) listed among the banks having significant gaps. COMPANY NEWS: Dow component Caterpillar advanced about 4% after its quarterly earnings easily beat the consensus expectation of analysts. The company also gave a forecast for revenue in the new fiscal year that surpassed expectations and approved a program to repurchase up to $10B of its shares. MAJOR MOVERS: Among the notable gainers was Chinese online game maker Shanda Games (GAME), which gained 13% after its controlling shareholder proposed to acquire the company in a "going private" transaction for $6.90 per American depositary share. Also higher was Robert Half (RHI), which rose 3% following an upgrade to Buy from Neutral at research firm Northcoast, which cited the valuation of its shares and expectations for top-line trends to accelerate due to easier comparisons and improving end markets. Also higher following an upgrade were shares of Merck (MRK), which gained nearly 3% after Morgan Stanley upgraded the stock two notches to Overweight from Underweight. Among the noteworthy losers was Geron (GERN), which fell 19% after disclosing that an investigator-sponsored clinical trial to evaluate imetelstat in patients with myelofibrosis and other myeloid malignancies has been closed to new patient enrollment and that the company believes approximately 20 patients have discontinued from the study since its inception. Also lower were shares of Xerox (XRX), which were downgraded to Market Perform from Outperform at BMO Capital and slid almost 5% near noon. INDEXES: Near midday, the Dow was down 76.11, or 0.48%, to 15,803.00, the Nasdaq was down 69.13, or 1.67%, to 4,059.04, and the S&P 500 was down 15.10, or 0.84%, to 1,775.19.
News For CAT;MRK;GAME;RHI;XRX;GERN;DB;CRZBY;CRARY From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
September 25, 2014
14:32 EDTCATGoldman Sachs close to acquiring Neovia Logistics for $1B, Reuters says
Subscribe for More Information
10:06 EDTRHIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 58.com (WUBA) initiated with a Neutral at Goldman... Auspex Pharmaceuticals (ASPX) initiated with a Buy at Ladenburg... Finjan Holdings (FNJN) initiated with a Buy at H.C. Wainwright... JD.com (JD) initiated with an Outperform at Macquarie... Korn/Ferry (KFY) initiated with a Neutral at Piper Jaffray... Manpower (MAN) initiated with an Overweight at Piper Jaffray... On Assignment (ASGN) initiated with an Overweight at Piper Jaffray... Robert Half (RHI) initiated with a Neutral at Piper Jaffray... Towers Watson (TW) initiated with an Overweight at Piper Jaffray.
September 24, 2014
16:12 EDTRHIRobert Half initiated with a Neutral at Piper Jaffray
Subscribe for More Information
15:04 EDTDBGoldman, other banks near deal to buy Bloomberg messaging alternative, WSJ says
Subscribe for More Information
September 23, 2014
15:19 EDTCATCaterpillar close to triggering a bearish price pattern
There is a potential triple top, which resembles an irregularly-shaped bearish head and shoulders pattern, that is clearly visible on a 2-year chart. At the current price of $100.20, the pattern is close to triggering. Whether seen as a triple top or head and shoulders, the neckline is at $100. If there is a break below that level, the pattern would become active. Downside potential for the pattern, if it remained active and completed, would be to the $89 area. This would place shares close to the breakout point back in late January 2014. It would take a move back above $107 to void the pattern.
14:58 EDTCATCaterpillar looking for smaller deals in energy, transportation space
14:56 EDTCATCaterpillar backs FY14 EPS view $6.20, consensus $6.28
Subscribe for More Information
08:34 EDTDBDeutsche Bank co-CEO, former CEOs face fraud charges in Kirch case, AP says
The Munich prosecutor's office has charged Deutsche Bank co-CEO Juergen Fitschen, as well as former CEOs Rolf Breuer and Josef Ackermann, with attempted serious fraud over allegedly misleading statements made during a lawsuit brought by Leo Kirch, reported Associated Press. Reference Link
07:33 EDTMRKOphthotech names Michael Atieh as EVP, Chief Financial and Business Officer
Ophthotech Corporation (OPHT) announced that Michael G. Atieh has been named EVP, Chief Financial and Business Officer and Treasurer effective September 30. Atieh replaces Bruce A. Peacock, Chief Financial and Business Officer and Treasurer, who has notified the company of his intention to retire effective September 30. Atieh spent the majority of his career in the pharmaceutical industry with Merck and Co (MRK), where he held various senior level positions over a 20 year period including Senior Vice President-Merck Medco Managed Care, Vice President-U.S. Human Health, Vice President-Public Affairs, Vice President-Government Relations, and Treasurer.
September 22, 2014
10:15 EDTCRZBYOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actavis (ACT) downgraded to Equal Weight from Overweight at Barclays... Aetna (AET) downgraded to Neutral from Buy at BofA/Merrill... Auxilium (AUXL) downgraded to Hold from Buy at Stifel... CARBO Ceramics (CRR) downgraded to Neutral from Buy at Sterne Agee... Commerzbank (CRZBY) downgraded to Underperform from Neutral at Exane BNP Paribas... Concur (CNQR) downgraded to Neutral from Buy at Nomura... Dresser-Rand (DRC) downgraded to Neutral from Accumulate at Global Hunter... Finish Line (FINL) downgraded to Equal Weight from Overweight at Morgan Stanley... General Communications (GNCMA) downgraded to Hold from Buy at Drexel Hamilton... InvenSense (INVN) downgraded to Neutral from Outperform at RW Baird... Las Vegas Sands (LVS) downgraded to Market Perform from Outperform at Wells Fargo... Lindsay Corp. (LNN) downgraded at Sterne Agee... Melco Crown (MPEL) downgraded to Market Perform from Outperform at Wells Fargo... Outerwall (OUTR) downgraded to Sell from Neutral at B. Riley... PSEG (PEG) downgraded to Hold from Buy at Jefferies... Realogy (RLGY) downgraded to Underperform from Neutral at Credit Suisse... Regal-Beloit (RBC) downgraded to Accumulate from Buy at Global Hunter... SABMiller (SBMRY) downgraded to Market Perform from Outperform at Bernstein... Saba Software (SABA) downgraded to Neutral from Buy at B. Riley... Suburban Propane (SPH) downgraded to Market Perform from Outperform at Wells Fargo... Swiss Re (SSREY) downgraded to Underperform from Neutral at Exane BNP Paribas... Towers Watson (TW) downgraded to Buy from Conviction Buy at Goldman... Valmont (VMI) downgraded at Sterne Agee... Walgreen (WAG) downgraded to Equal Weight from Overweight at Barclays... Watts Water (WTS) downgraded to Neutral from Buy at Janney Capital... Wynn Resorts (WYNN) downgraded to Market Perform from Outperform at Wells Fargo... Yahoo (YHOO) downgraded to Neutral from Buy at BofA/Merrill.
07:49 EDTDBDeutsche Bank fires Sydney-based currency trader, FT reports
Deutsche Bank has fired Andy Donaldson, a Sydney-based currency trader, for allegedly misreporting trades, the Financial Times reports. Donaldson was suspended in June after checks uncovered "irregularities" in how his trading activities were recorded. Reference Link
07:25 EDTCATCitigroup to hold a conference
Industrials Conference to be held in Boston on September 22-24.
06:51 EDTMRKMerck to host conference call
Subscribe for More Information
05:25 EDTCRZBYCommerzbank downgraded to Underperform from Neutral at Exane BNP Paribas
September 19, 2014
11:11 EDTCATCaterpillar sales trends for August mixed, says Wells Fargo
Subscribe for More Information
09:13 EDTCATCaterpillar reports Machines sales down 10% in three months end August
Subscribe for More Information
September 18, 2014
14:50 EDTXRXXerox downgraded to Hold from Buy at Standpoint Research
Subscribe for More Information
08:48 EDTMRKNeogen's dairy genomic program to be marketed by Merck
Subscribe for More Information
07:52 EDTDBUBS Chair says litigation bigger worry than stress test, Bloomberg reports
Subscribe for More Information
06:39 EDTDBEuropean banks take out EUR83B of loans from central bank, NY Times says
European banks agreed to take out EUR83B in low interest loans from the European Central Bank, as part of a program in which all of the funds must be loaned to businesses or individuals, or repaid to the central bank within two years, according to The New York Times. Several analysts had said that they would be disappointed if banks took out less than EUR100B in loans, but a number of analysts said that a second round of the program, due to occur in December after stress tests have been completed, may be more popular, the newspaper stated. Publicly traded European banks include Banco Santander (SAN), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB), HSBC (HSBC), ING Groep (ING), Lloyds Banking (LYG), Royal Bank of Scotland (RBS) and UBS (UBS). Reference Link
1 | 2 | all recent news | >>

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