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Stock Market & Financial Investment News

News Breaks
May 2, 2012
12:58 EDTSMSC, RRD, TRIP, RIMM, CHRS, CHK, AGN, CVS, RATE, MCHP, OPEN, AGP, NOK, ASNA, TWX, CMCSA, CBSOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, following disappointing jobs data at home and abroad. The market began the session in the red following worse than expected data from the ADP employment change report. The market hit its lows shortly after the open and has moved in narrow range since, but has trended higher in the last hour. The move higher came after a slightly better than expected factory orders report and an energy inventories report that showed a larger draw down of gas and distillate supplies than were forecast... ECONOMIC EVENTS: In the U.S., ADP said that 119,000 private-sector jobs were added in April, missing expectations for 170,000 job additions. Factory orders declined 1.5% in March, versus expectations of a 1.6% drop. In Europe, two pieces of disappointing data were reported: unemployment rose to 10.9% in the shared-currency bloc, its highest level since the euro's launch in 1999, and the eurozone's manufacturing sector contracted at the sharpest pace in almost three years, with the manufacturing PMI for the region falling to 45.9 in April from 47.7 in March. In China, HSBC's "flash" PMI manufacturing survey improved to 49.3 from 48.3 in the prior reading... COMPANY NEWS: A number of media companies reported better than expected results on both the top and bottom lines, including Comcast (CMCSA), Time Warner (TWX) and CBS (CBS), but only CBS saw its shares move up following its announcement. CBS shares gained more than 3%, while Comcast fell 1.5% and Time Warned moved almost 2% lower... Among other companies reporting earnings, advancers included CVS Caremark (CVS), TripAdvisor (TRIP) and Amerigroup (AGP); decliners included Allergan (AGN), R.R. Donnelley (RRD) and OpenTable (OPEN)... Chesapeake (CHK) gave up all of the 8% in gains it realized yesterday and then some, falling about 13% after its earnings missed consensus and Reuters reported on new potential conflicts of interests for its CEO Aubrey McClendon... MAJOR MOVERS: Among the notable gainers were Standard Microsystems (SMSC), up 38%, on news it will be acquired by Microchip Technology (MCHP) for $37 per share in cash, and both Charming Shoppes (CHRS), up over 23%, and Ascena Retail Group (ASNA), up almost 11%, after the companies announced plans for Ascena to acquire Charming. Noteworthy losers included Bankrate (RATE), down 12%, following its earnings report, and Research in Motion (RIMM), down almost 5%, as investors continue to react negatively to the company's new product announcements and Nokia (NOK) sued RIM and others in the U.S. and Germany on accusations of patent infringement... INDICES: Near noon, the Dow was down 47.38, or 0.36%, to 13,231.94; the Nasdaq was down 1.63, or 0.05%, to 3,048.81; and the S&P 500 was down 6.69, or 0.48%, to 1,399.13.
News For CMCSA;TWX;CBS;CVS;TRIP;AGP;AGN;RRD;OPEN;CHK;SMSC;MCHP;CHRS;ASNA;RATE;RIMM;NOK From The Last 14 Days
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July 20, 2015
12:16 EDTNOKHERE offering free HD map data for automated vehicle tests
HERE, a Nokia (NOK) company, announced it is making high-definition mapping data of sections of public roads in four countries available to all automotive companies to support their highly automated vehicle initiatives. HERE is offering HD mapping data of specific stretches of open road in Silicon Valley and Michigan in the United States, as well as in France and Germany, to all carmakers and automotive suppliers for test purposes. HERE plans to offer data for Japan too later this year. HERE is currently working with more than 10 "leading automotive companies" on automated driving projects, the company said. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
10:00 EDTCBSOn The Fly: Analyst Downgrade Summary
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10:00 EDTRRDOn The Fly: Analyst Upgrade Summary
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09:13 EDTRRDR.R. Donnelley upgraded to Buy from Neutral at Sidoti
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07:05 EDTAGNAllergan Q2 to alleviate competitive concerns, says JPMorgan
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07:04 EDTCBSCBS downgraded to Hold from Buy at Pivotal Research
Pivotal Research downgraded CBS to Hold based on higher costs of capital and valuation and lowered its price target to $58 from $70 on shares.
06:03 EDTCHKStocks with implied volatility movement; CHK CNX
Stocks with implied volatility movement; Chesapeake (CHK) 76, CONSOL (CNX) 64 according to iVolatility.
05:48 EDTTRIPTripAdvisor price target raised to $100 from $92 at Ascendiant
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July 19, 2015
15:43 EDTCMCSADisney's 'Ant-Man' leads U.S. weekend box office with $58M
For the weekend of July 19, Disney's (DIS) "Ant-Man" topped domestic box office charts at $58M. Comcast (CMCSA, CMCSK) subsidiary Universal's "Minions" landed in second place with $50.2M, while Universal's "Trainwreck" came in third with $30.2M. Disney's "Inside Out" and Universal's "Jurassic World" took fourth and fifth place at $11.7M and $11.4M, respectively. Data gathered by Rentrak.
July 17, 2015
10:56 EDTCVSCVS investigates credit card breach at online photo unit, KrebsOnSecurity says
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10:05 EDTAGNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Accretive Health (ACHI) downgraded to Market Perform from Outperform at Cowen... Allergan (AGN) downgraded to Outperform from Top Pick at RBC Capital... Best Buy (BBY) downgraded to Underperform from Buy at BofA/Merrill... Cablevision (CVC) downgraded to Hold from Buy at Jefferies... Credit Suisse (CS) downgraded to Hold from Buy at Deutsche Bank... Domino's Pizza (DPZ) downgraded to Sector Weight from Overweight at KeyBanc... First Quantum Minerals (FQVLF) downgraded to Neutral from Outperform at Credit Suisse... First Republic (FRC) downgraded to Market Perform from Outperform at FBR Capital... Fresenius SE (FSNUY) downgraded to Neutral from Buy at Goldman... Golden Minerals (AUMN) downgraded to Neutral from Buy at Roth Capital... JD Wetherspoon (JDWPY) downgraded to Reduce from Neutral at Nomura... NV5 Holdings (NVEE) downgraded to Neutral from Accumulate at Global Hunter... National Oilwell (NOV) downgraded to Sell from Neutral at UBS... Natural Gas Services (NGS) downgraded to Neutral from Buy at Global Hunter... Primoris (PRIM) downgraded to Neutral from Accumulate at Global Hunter... Receptos (RCPT) downgraded to Hold from Buy at Evercore ISI... SKF AB (SKFRY) downgraded to Hold from Buy at Deutsche Bank... STAG Industrial (STAG) downgraded to Sell from Neutral at UBS... SolarWinds (SWI) downgraded to Hold from Buy at Deutsche Bank... Syntel (SYNT) downgraded to Market Perform from Outperform at William Blair... TECO Energy (TE) downgraded to Neutral from Buy at UBS... Tangoe (TNGO) downgraded to Underweight from Equal Weight at Barclays... Tegna (TGNA) downgraded to Hold from Buy at Evercore ISI.
06:39 EDTAGNAllergan downgraded to Outperform from Top Pick at RBC Capital
RBC Capital downgraded Allergan to Outperform and maintained its $361 price target. The firm sees few catalysts and is less confident near-term in P&L upside, but has left estimates unchanged. RBC Capital said there are several important products subject to competitive threats that could pressure sentiment but said valuation remains attractive against solid mid-teens multi-year earnings growth.
06:13 EDTCMCSAHulu considering ad-free option, WSJ reports
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July 16, 2015
11:25 EDTCHKStocks with call strike movement; CHK MU
Chesapeake (CHK) October 13 call option implied volatility increased 4% to 58, Micron (MU) October 23 call option implied volatility decreased 2% to 43 according to IVolatility.
10:45 EDTCMCSANetflix price targets soar as Bernstein stays bearish
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10:04 EDTTWXHigh option volume stocks
High option volume stocks: TWX PMCS SHW ASML GRMN GSAT ROVI ALLY LC HZNP
10:00 EDTTWXAmazon says HBO NOW available on Fire Tablets
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09:55 EDTCMCSARovi trial loss immaterial to estimates, says Piper Jaffray
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05:56 EDTCMCSANetflix ruling irrelevant to Rovi contract renewals, says B. Riley
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05:52 EDTCMCSARuling in Netflix case a negative for Rovi, says JPMorgan
JPMorgan analyst Sterling Auty says court filings released after yesterday's market close indicate Netflix (NFLX) was granted a motion of summary invalidating all five of the remaining Rovi (ROVI) patents that were being contested. Auty expects Rovi to sell off on the news as investors consider what the ruling may do to the company's upcoming contract renewals with Comcast (CMCSA), Time Warner Cable (TWC), DirecTV (DTV) and DISH (DISH). The "big 4" choosing to litigate against Rovi is "certainly a possibility," but the companies have bigger patent infringement exposures than an over-the-top vendor like Netflix, Auty writes in a research note. He keeps a Neutral rating on Rovi.
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