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Stock Market & Financial Investment News

News Breaks
June 25, 2014
12:33 EDTCBS, PXD, HFC, VLO, MEG, SBGI, FOXA, CMCSA, DIS, ZU, MON, BKS, NXST, IACI, EPDOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite the U.S. sharply lowering its view of how the economy performed in the first quarter of this year. The market opened lower following the disappointing GDP revision, as well as a lower than expected durable goods report, but the averages soon turned mixed and all moved into positive ground by about 11 am ET, where they have been drifting since. ECONOMIC EVENTS: In the U.S., the Bureau of Economic Analysis released its third and final estimate of real gross domestic product for the first quarter. The government now estimates that output in the U.S. declined at an annual rate of 2.9%, which was worse than the prior estimate of 1% contraction and significantly down from the fourth quarter of 2013, when real GDP grew 2.6%. The estimate of Q1 personal spending growth was knocked down to a 1.0% clip from the prior 3.1% pace. Durable goods orders dropped 1.0% in May, versus expectations for them to have been unchanged. Markit's services PMI surged to a record 61.2 for the flash June reading from May's 58.1 figure. COMPANY NEWS: Shares of a number of television network owners, most notably CBS (CBS), advanced after the Supreme Court ruled that Aereo, a start-up service backed by the Barry Diller-controlled IAC (IACI) that streams tv shows over the Internet, had violated copyright laws. Following the high court ruling, which overturned a lower court judgment on the matter, CBS rose more than 4%, while Disney (DIS), which owns ABC Network, 21st Century Fox (FOXA), the owner of Fox, and Comcast (CMCSA), which owns NBC, all advanced about 1%. Shares of tv station owners reacted even more favorably, with Nexstar (NXST) surging 15%, Sinclair (SBGI) rising 14% and Media General (MEG) gaining 10%... Shares of Barnes & Noble (BKS) rose 4% after the bookseller announced that its board authorized management to separate its Retail and Nook Media divisions and the company reported better than anticipated fourth quarter revenue. MAJOR MOVERS: Among the notable gainers was Monsanto (MON), which advanced 5% after the company reported better than expected Q3 results, raised its full year EPS outlook to the upper end of its previous guidance range and announced a new $10B share repurchase authorization. Also higher was zulily (ZU), which rose over 10% after Goldman Sachs upgraded the stock to Buy, citing the recent pullback in shares and expectations for higher than expected customer growth into 2015. Among the noteworthy losers was Valmont Industries (VMI), which fell 7% after the company lowered its fiscal 2014 earnings per share outlook. Also lower were a number of refiners, including Valero (VLO), which was down 10%, and HollyFrontier (HFC), which slid 8%, after the U.S. reportedly reclassified condensate as a processed product and gave Pioneer Natural Resources (PXD) and Enterprise Products Partners (EPD) permission to export the type of oil to foreign buyers. INDEXES: Near midday, the Dow was up 23.20, or 0.14%, to 16,841.33, the Nasdaq was up 9.79, or 0.23%, to 4,360.15, and the S&P 500 was up 4.14, or 0.21%, to 1,954.12.
News For CBS;IACI;NXST;BKS;MON;ZU;DIS;CMCSA;FOXA;SBGI;MEG;VLO;HFC;PXD;EPD From The Last 14 Days
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October 8, 2014
13:27 EDTFOXASoftBank no longer talking to DreamWorks, Buzzfeed reports
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11:04 EDTCMCSAComcast shareholders approve stock issuance for Time Warner Cable merger
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11:03 EDTCMCSAComcast shareholders approve stock issuance for Time Warner Cable merger
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09:20 EDTDISJ.C. Penney says will expand Disney stops in stores to 680 from 500
09:20 EDTDISJ.C. Penney CEOsays will open more Sephora shops in store
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08:32 EDTBKSNOOK Media, OverDrive announce partnership
NOOK Media, a subsidiary of Barnes & Noble, and OverDrive, an eBook platform for libraries, announced a new partnership to enable public libraries to provide readers with access to hundreds of the most popular digital magazines and newspapers from the NOOK Newsstand. Utilizing OverDrive platforms integrated with library catalogs, library patrons will be able to discover, access and read a huge selection of NOOK Newsstand titles on their NOOK tablet device and on tablets, smartphones and PCs via the suite of Free NOOK Reading Apps. The new service is expected to roll out to customers in the coming months.
08:29 EDTMONMonsanto targets at least double ongoing EPS by FY19
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08:08 EDTMONMonsanto sees Q1 earnings roughly half last year, FY15 growth concentrated in Q3
Monsanto said, "As its business has expanded globally over the past several years, the company has seen its earnings flow evolve between quarters. This trend continues in FY15 as the company anticipates an overall shift in its full-year earnings pattern, as several structural factors result in a full-year earnings flow with a smaller first quarter and a concentration of growth in the third quarter. With macro conditions resulting in lower planted acres for key regions in both corn and cotton in the quarter, combined with a timing shift as the company moves more of its Agricultural Productivity business to branded-product sales, Monsanto expects its first quarter will be roughly half of the total earnings from the first quarter of 2014. Beyond the first quarter, the biggest first half timing effect relates to the evolution in its Channel seed brand business model that is expected to shift business timing from the first and second quarters to the third quarter. The company expects second quarter earnings to be relatively flat year-over-year with a significant uptick in third quarter earnings reflecting the timing shifts and business growth in its largest markets. The earnings flow is punctuated by a fourth quarter that is expected to be break-even to positive year-over-year on an absolute basis."
08:06 EDTMONMonsanto reports Q4 Seeds and Genomics sales $1.376B
Reports Q4 Agricultural Productivity sales $1.254B. Hugh Grant, chairman and CEO for Monsanto, said, “In an industry that’s particularly near-term focused right now, there are few companies as well positioned to deliver strong growth today while significantly increasing investments to enable the continued delivery of a broad range of innovative solutions for tomorrow.”
08:04 EDTMONMonsanto sees FY15 EPS $5.75-$6.00, consensus $6.03
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08:02 EDTMONMonsanto reports Q4 ongoing EPS (27c), consensus (24c)
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07:13 EDTDIS, CMCSA, FOXAHulu may cut number ads on Hulu Plus, NY Post reports
Hulu (FOXA, DIS, CMCSA) CEO Mike Hopkins is looking to cut back on the number of ads that appear on Hulu Plus, reports the New York Post. According to an executive close to the company, Hulu and its partners are “always looking at a variety of ways to create the best possible experience for our viewers and advertisers including reducing the ad load." Reference Link
October 7, 2014
15:16 EDTMONNotable companies reporting before tomorrow's open
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15:08 EDTMONMonsanto technical notes ahead of earnings
In the prior three months the shares have underperformed, dropping nearly 14% in price. The trend has been bearish with a few volatile upside attempts which did not hold. Ahead of results, the stock has broken below an important support at the $110 area. This level has held as support since early March of this year. A continued breakdown below it on negative news would snap the 5-year uptrend line which has support at $110. Support levels to watch as potential downside objectives are at $105.45, $99.98, and $96.11. A break of the long-term uptrend line would be long-term bearish for share price. If the news surprises on the upside, resistance levels to watch as potential upside objectives are at $115.39, $118.99, and $121.85.
14:33 EDTMONMonsanto October weekly 108 straddle priced for 3% move into Q4
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11:02 EDTVLOValero has most Q3 upside potential, says Barclays
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09:13 EDTHFCHollyFrontier upgraded to Buy from Neutral at Citigroup
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09:04 EDTFOXAFox Sports Radio, DirecTV announce partnership to launch Rich Eisen Show
FOX Sports Radio (FOXA) and DIRECTV (DTV) announced a partnership to launch The Rich Eisen Show into national radio syndication. Eisen will debut as part of FOX Sports Radio’s national weekday lineup in the noon to 3 p.m. ET timeslot, beginning November 3. FOX Sports Radio/Premiere Networks will also provide exclusive radio ad sales representation for The Rich Eisen Show.
08:05 EDTCBSCBS risk/reward attractive at current levels, says FBR Capital
FBR Capital believes weaker September quarter TV trends and downward estimate revisions have pushed CBS shares into "value territory." The firm views the current risk/reward on shares as attractive and keeps an Outperform rating on CBS with a reduced price target of $71.
07:27 EDTVLOEU repreive on oil sands label a victory for Canada, WSJ says
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