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Stock Market & Financial Investment News

News Breaks
December 30, 2012
22:23 EDTYUM, CAT, CLF, XOMChina purchasing manufacturing index rises to 51.5, Bloomberg says
The final reading of the Purchasing Managersí Index in China was 51.5 in December, expanding at the fastest pace in 19 months, Bloomberg says. Reference Link
News For CAT;XOM;CLF;YUM From The Last 14 Days
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January 27, 2016
10:10 EDTXOMActive calls: XOM AAPL SPY BAC UUP
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10:04 EDTCATCaterpillar falls, levels to watch
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09:12 EDTCLFOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Biogen (BIIB), up 5.6%... Hawaiian Holdings (HA), up 6.7%... Capital One (COF), up 1.5%. ALSO HIGHER: Capnia (CAPN), up 34.1% after entering into an exclusive distribution agreement with Bemes... Fate Therapeutics (FATE), up 18.6% after announcing that the FDA has cleared the company's investigational new drug application for ProTmune... Raptor Pharmaceutical (RPTP), up 12.1% after being upgraded to Buy from Neutral at Citi... Aquinox (AQXP), up 5.6% after Baker Bros. buys 140,786 shares in the company... Sunedison (SUNE), up 7.4% after SunEdison and Greenlight Capital announced that they have mutually agreed to corporate governance initiatives... Citizens Financial Group (CFG), up 3% after it will be added to the S&P 500... Terex (TEX), up 5.2% after being upgraded to Neutral from Underweight at JPMorgan. DOWN AFTER EARNINGS: Tupperware Brands (TUP), down 11.4%... VMware (VMW), down 6.5%... Textron (TXT), down 9.9%... Cliffs Natural (CLF), down 5.8%... Boeing (BA), down 6.2%... Fiat Chrysler (FCAU), down 3%... Apple (AAPL), down 3.4%. ALSO LOWER: Priceline (PCLN), down 2.9% after being downgraded to Neutral from Buy at Goldman... Bed Bath & Beyond (BBBY), down 4.2% after being downgraded at Citi and KeyBanc... Tripadvisor (TRIP), down 5.5% after being downgraded to Sell from Neutral at Goldman.
09:12 EDTCATCaterpillar reports retail machines sales down 16% in three months end December
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08:07 EDTCLFCliffs Natural sees FY16 CapEx $50M vs. $83M in FY15
For 2016, Cliffs expects full-year sales volume of approximately 17.5 million tons from its U.S. Iron Ore business. In order to reduce pellet inventory levels and generate cash flow from working capital, the Company currently plans to produce approximately 16 million tons of iron ore pellets. Cliffs' full-year 2016 U.S. Iron Ore cash production cost per ton expectation is $50 - $55. The Company's cash cost of goods sold per ton expectation is $55 - $60, representing a reduction of $5 from the previously disclosed 2016 cash costs of goods sold per ton expectation of $60 - $65. Cliffs anticipates depreciation, depletion and amortization to be approximately $7 per ton for full-year 2016. The Company remains in active negotiations with the United Steelworkers and is committed to reaching a fair and equitable agreement. The current contract has been extended by mutual agreement of both parties. The contract extension covers approximately 2,200 USW-represented workers at Cliffs' Empire and Tilden mines in Michigan, and its United Taconite and Hibbing Taconite mines in Minnesota. Cliffs' full-year 2016 Asia Pacific Iron Ore expected sales and production volume is approximately 11.5 million tons. The product mix is expected to contain 50 percent lump and 50 percent fines. The Company expects full-year 2016 interest expense to be approximately $240 million, of which approximately $205 million is cash interest. Cliffs expects full-year 2016 capital expenditures to be $50 million, a significant reduction compared to 2015 expenditures of $83 million. The reduction is driven by the divestiture of the remaining coal assets as well as spending discipline exhibited in the U.S. Iron Ore business.
08:06 EDTCLFCliffs Natural reports Q4 US Iron Ore total sales volume 4.5M
U.S. Iron Ore pellet sales volume in the fourth quarter of 2015 was 4.5 million tons, a 42 percent decrease when compared with 7.8 million tons sold in the fourth quarter of 2014. The decrease was driven principally by the termination of a customer contract, lower demand from U.S. mills and higher sales in the comparable quarter in the prior year from the delayed start-up of the 2014 shipping season. Cash production cost per ton in U.S. Iron Ore was $45.36, down 23 percent from $58.96 in the prior year's fourth quarter. The decrease was driven by lower employment costs, reduced maintenance and repair costs, and year-over-year lower energy rates. Reports Q4 US Iron Ore total production volume 4.5M. Fourth-quarter 2015 Asia Pacific Iron Ore sales volume of 2.9 million was flat compared to the fourth quarter of 2014.
08:04 EDTCLFCliffs Natural reports Q4 cont ops EPS (14c), consensus (26c)
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January 26, 2016
16:00 EDTXOMOptions Update; January 26, 2016
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14:32 EDTCLFNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Novartis (NVS), consensus $1.18... Boeing (BA), consensus $1.26... United Technologies (UTX), consensus $1.52... Biogen (BIIB), consensus $4.08... EMC (EMC), consensus 65c... General Dynamics (GD), consensus $2.38... Anthem (ANTM), consensus $1.22... Illinois Tool Works (ITW), consensus $1.21... State Street (STT), consensus $1.18... Norfolk Southern (NSC), consensus $1.24... Progressive (PGR), consensus 47c... St. Jude Medical (STJ), consensus $1.01... Rockwell Automation (ROK), consensus $1.33... Textron (TXT), consensus 83c... Hess (HES), consensus ($1.47)... Cliffs Natural (CLF), consensus (26c).
13:02 EDTXOMExxonMobile, Renewable Energy to research biodiesel from cellulosic sugars
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11:13 EDTXOMActive options; AAPL BAC FB NFLX C MSFT TWTR VALE FCX COH XOM AMZN
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09:38 EDTXOMExxon Mobil downgraded to Sell from Trim at Tudor Pickering
January 25, 2016
16:14 EDTCATOn The Fly: Top stock stories for Monday
Stocks began the session in negative territory and remained there throughout the day. The market has yet to de-couple from oil prices, as stocks continue to move in the direction of the commodity. The averages almost made it back to positive ground in the early afternoon, but with oil down more than 4% the sellers emerged and pushed the market toward session lows. The market continued to lose ground as oil fell further, giving up nearly 6% by the close on the New York Mercantile Exchange, bringing stocks' two day win streak to an end. ECONOMIC EVENTS: In the U.S., the economic calendar was light. The Dallas Fed manufacturing survey, the lone report of note, came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. West Texas Intermediate for March delivery fell $1.85, or 5.8%, to close at $30.34 a barrel on the NYMEX. COMPANY NEWS: Shares of McDonald's (MCD) advanced 0.7% to $119.20 after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S... Twitter (TWTR) fell 4.6% to $17.02 after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares... Tyco (TYC) jumped 11.6% to $34.15 after reaching a merger agreement with Johnson Controls (JCI) which will see Johnson shareholders owning 56% of the combined company's equity. Johnson Controls fell 3.9% to $34.21 following the merger announcement. MAJOR MOVERS: Among the notable gainers was Valeant (VRX), which rose 4.55% to $92.63 after hospitalized CEO Michael Pearson said he is "on the road to recovery" after a bout of pneumonia. The news was followed by announcements that Valeant has sold three of its skincare brands and received FDA acceptance of its biologics license application for psoriasis drug Brodalumab. Also higher was SunEdison (SUNE), which advanced 2.6% to $2.72 after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board. Meanwhile, energy savings firm EnerNOC (ENOC) jumped 69.5% to $7.05 after the Supreme Court ruled in favor of FERC's so-called "demand response" rule, sending energy generators Dynegy (DYN) and Talen Energy (TLN) down a respective 11.6% and 6.2%. Among the noteworthy losers was OncoMed (OMED), which plunged 42.9% to $10.04 after its Phase 2 trial of tarextumab in pancreatic cancer showed futility in an interim analysis. Also lower were containerboard and paper makers KapStone (KS), WestRock (WRK) and Packaging Corp (PKG), which dropped about 21%, 15% and 13%, respectively, after an industry publication reported that prices in the sector had declined. Additionally, Caterpillar (CAT) was the Dow's biggest decliner Monday, sinking 5% to $57.90 after being downgraded to Sell at Goldman Sachs. INDEXES: The Dow fell 208.29, or 1.29%, to 15,885.22, the Nasdaq lost 72.69, or 1.58%, to 4,518.49, and the S&P 500 declined 29.82, or 1.56%, to 1,877.08.
16:00 EDTXOMOptions Update; January 25, 2016
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12:17 EDTCATOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as oil prices resumed their slide, giving up some of the surge the commodity saw to close out last week. The stock market, which has been highly correlated with oil lately, continues to be led around by energy prices once again today. ECONOMIC EVENTS: In the U.S., the economic calendar was light with the Dallas Fed manufacturing survey the lone report of note. The survey came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. WTI crude oil dropped about 5% to trade near $30.50 per barrel near midday. COMPANY NEWS: Shares of McDonald's (MCD) advanced a bit over 1% after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S. On the other side of the Dow was Caterpillar (CAT), which fell nearly 4% to lead the bluechip index on the down side after its stock was downgraded to Sell at Goldman Sachs... Twitter (TWTR) fell about 4% after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares. MAJOR MOVERS: Among the notable gainers was Tyco (TYC), which rallied 10.8% after it announced that it entered into a definitive merger agreement with Johnson Controls (JCI). Johnson shares fell 2% after the deal announcement. Also higher was Williams Partners (WPZ), which gained 7% after it lowered its estimate of its 2016 growth capital funding needs to $2B, 32% lower than its previous plans. Among the noteworthy losers was OncoMed (OMED), which fell 46% after the company said its Phase 2 ALPINE clinical trial showed futility on an interim analysis. Also lower were KapStone (KS), WestRock (WRK), and Packaging Corp (PKG), which dropped 20%, 13%, and 11%, respectively, after an industry publication reported that prices in the sector had declined. INDEXES: Near midday, the Dow was down 78.00, or 0.48%, to 16,015.51, the Nasdaq was down 23.34, or 0.51%, to 4,567.84, and the S&P 500 was down 11.89, or 0.62%, to 1,895.01.
11:39 EDTCATCaterpillar volatility increases after Goldman cuts rating to sell into Q4
Caterpillar January weekly call option implied volatility is at 71, February is at 42; compared to its 52-week range of 16 to 41, suggesting large near term price movement into the expected release of Q4 results on January 28.
11:18 EDTCATGoldman says sell Caterpillar with more pain to come from commodity slump
The shares of Caterpillar (CAT) are dropping after Goldman Sachs downgraded the stock to Sell from Neutral. Demand for machinery will probably drop as commodity producers continue to lower their capital expenditures going forward, the firm believes. WHAT'S NEW: Commodity producers are likely to reduce their capital spending, including their expenditures on machinery, according to Goldman analyst Jerry Revich. These trends will be driven by the producers' "challenging returns" and weak balance sheets, he believes. The commodity producers' slump will affect Caterpillar in two ways, the analyst explained. Specifically, 30% of Caterpillar's revenue is derived from commodity producers, while it obtains 25% of its revenue from countries that export commodities, where overall demand for machinery will probably fall, explained Revich. Moreover, although analysts' consensus estimates indicate that they expect Caterpillar's profit to bottom this year, capital spending in Caterpillar's main end markets appears to be above average levels, said Revich, who expects the company's 2017 EPS to come in 15% below the consensus outlook. The analyst cut his price target on the shares to $51 from $67. PRICE ACTION: In morning trading, Caterpillar dropped 4% to $58.54. Other machinery makers also declined, with Deere (DE) falling 2.8% to $72.54, AGCO Corporation (AGCO) slumping 3.6% to $44.28 and Joy Global (JOY) giving back 3.2% to $8.73.
10:00 EDTCATOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
09:03 EDTCATOn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
08:59 EDTCATCaterpillar falls in pre-market
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