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Stock Market & Financial Investment News

News Breaks
November 28, 2012
05:55 EDTSWFT, SWFT, SWFT, COP, COP, COP, NAV, NAV, NAV, WPRT, WPRT, WPRT, CMI, CMI, CMI, ECA, ECA, ECA, R, R, R, XOM, XOM, XOM, UPS, UPS, UPSAmerican Trucking Association is hosting a summit
ATA Summit on Natural Gas in Trucking is being held in Arlington, Virginia on November 28-30.
News For COP;NAV;WPRT;CMI;ECA;R;XOM;UPS;SWFT From The Last 14 Days
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September 26, 2014
13:56 EDTXOMRosneft, Exxon Mobil strikes oil in Arctic well, Financial Times reports
Rosneft and Exxon Mobil have struck oil in their joint Universitetskaya-1 well in the Kara Sea, reports the Financial Times, according to people familiar with the matter. The results are unlikely to be conclusive because the companies drilled one well in "a huge area." Reference Link
13:18 EDTUPSUPS weakness creates buying opportunity, says Argus
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06:53 EDTUPSChina to open delivery sector to foreign firms, WantChinaTimes says
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September 25, 2014
16:17 EDTSWFTOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower and suffered their worst day in nearly two months, with market participants pointing to a number of reasons for the broad-based weakness. Shares of Apple (AAPL) were a drag on the market, and particularly on the Nasdaq, as the tech giant slid after a number of reports pointed to customer issues with its new iPhone 6 and an update to its mobile operating system. Cautious comments about rates by a noted Federal Reserve "hawk" may have also contributed, as well as reports that Russia may respond to U.S. and EU sanctions with a new law that will allow it to seize foreign property within the country. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 12K to 293K in the week ended September 20, though this was below the consensus forecast for 296K new claims. Durable goods orders fell 18.2% in August following a 22.5% surge in July. However, excluding transportation, orders were up 0.7%, which was a bit above the forecast for a 0.6% increase. Additionally, the head of the Dallas Federal Reserve, Richard Fisher, said that the central bank may start raising rates in the spring of 2015, which is earlier than most market watchers expect. Also, a Reuters report that Russia has drafted a law that would allow it to seize foreign assets on Russian territory to compensate those impacted by sanctions or who have had their own property seized outside of Russia garnered significant attention. COMPANY NEWS: Apple declined $3.88, or 3.81%, to $97.87 after reports yesterday from various tech blogs said the company pulled a new update of iOS 8 after complaints that the new software was crashing cellular service and Touch ID on users' phones. Other reports indicate the new iPhone 6 is reportedly bending in some owners' pockets, though the company told CNBC's John Fortt that it has only received nine customer complaints regarding bent phones. Also, Barron's reported that Apple insiders, including CEO Tim Cook, have sold over 1.4M shares of Apple stock this month. MAJOR MOVERS: Among the notable gainers was Swift Transport (SWFT), which gained $1.83, or 9.56%, to $20.98 after the company backed its Q3 earnings outlook and said it was "cautiously optimistic" about the trends it has seen as a result of its strategic decision regarding driver compensation. Also higher was IGI Laboratories (IG), which rose $1.36, or 18.26%, to $8.81 after the company acquired the regulatory rights and related documents and records for 18 drug products from AstraZeneca (AZN). Among the noteworthy losers was BlackBerry (BBRY), which fell 71c, or 6.76%, to $9.80 the day before it reports on its quarterly results. Ahead of tomorrow morning's report, BGC Financial analyst Colin Gillis downgraded shares of the smartphone maker to Hold from Buy, saying the company's results "may prove underwhelming." Also lower were shares of adhesives maker H.B. Fuller (FUL), which fell $6.30, or 14.32%, to $37.68 after the company's third quarter results and fourth quarter profit outlook missed analysts' consensus estimates. INDEXES: The Dow plunged 264.26, or 1.54%, to 16,945.80, the Nasdaq dropped 88.47, or 1.94%, to 4,466.75, and the S&P 500 declined 32.31, or 1.62%, to 1,965.99.
11:35 EDTSWFTSwift Transport backs Q3 adjusted EPS view 33c-37c, consensus 35c
Due to the unforeseen issues that inhibited management from being able to participate in the RBC Capital Markets’ Industrials Conference earlier this month, and in anticipation of the upcoming American Trucking Associations Conference, management felt it prudent to provide public updates on the current quarter. President and COO, Richard Stocking explains, “We are pleased with the results we are experiencing thus far from the over-the-road driver wage increases that went into effect on August 4th. Although this increase has only been in place for a couple of months, the feedback we have received to date from drivers has been very positive. Equally important is the impact it has had thus far on our operational results. Currently, our driver academies are full, and we are experiencing record recruiting weeks. When compared to the second quarter of 2014, our company driver turnover of our over-the-road fleets has improved more than 16 percentage points, and is currently well below industry average. Additionally, our company wide unseated truck count has declined approximately 20% from the end of the second quarter, and the utilization in our linehaul fleet has improved by more than 3% year over year in the current quarter. Finally, we have been actively working with our customers to achieve the commensurate rate increases required to help cover the cost of the changes to driver pay, and have been encouraged by their response. We expect the increase in our revenue per loaded mile excluding fuel surcharges in our core over the road business to increase 4% - 5% on a year over year basis. We know it is early, but we are cautiously optimistic about the trends we are seeing as a result of the strategic decision we made regarding our driver compensation.”
05:25 EDTNAVNavistar expands production capacity of high-performance engines
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September 24, 2014
19:47 EDTXOMExxon announces new projects to expand specialty hydrocarbon fluid production
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07:57 EDTRRyder selected by Chrysler Mexico
Ryder (R) announced it has been selected by Chrysler Mexico to manage a cross dock operation at the Port of Altamira, feeding parts from an overseas supplier to Chrysler’s manufacturing assembly plant in Mexico. Ryder is responsible for receiving sea containers from two Italian consolidation centers, facilitating the customs process and transloading the shipments into trailers for delivery to the plant. Ryder will use its engineering knowledge to optimize the trailer loads, resulting in reduced transportation spend for Chrysler. Ryder’s services are supported by an EDI technology that connects Ryder, Chrysler, and the supplier. This system enables Ryder to share information with customs brokers, transportation partners, and the Chrysler assembly plant, improving visibility and ensuring quality, timely delivery. Chrysler is owned by Fiat (FIATY).
September 23, 2014
12:00 EDTUPSThree people dead in shooting at UPS facility in Alabama, AP reports
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10:02 EDTXOMOn The Fly: Analyst Initiation Summary
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06:05 EDTXOMExxon Mobil initiated with a Neutral at JPMorgan
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September 22, 2014
11:03 EDTUPSUPS expands 3D printing across U.S. with Stratasys collaboration
UPS (UPS) is expanding 3D printing services to meet the growing demands of its small business customers to nearly 100 additional locations nationwide. As the first nationwide retailer to offer 3D printing services in-store, in collaboration with Stratasys (SSYS), the UPS Store continues to evolve its services to better meet the needs of small business owners.
September 19, 2014
13:44 EDTXOMSources say Exxon Mobil's Torrance, CA, refinery up for sale, Reuters reports
According to sources, Exxon Mobil's 15,000 barrel per day Torrance, California, refinery is up for sale, Reuters reports. One source notes that the refinery "has been looked at extensively." An Exxon spokesman says the company is committed to conducting business in California and would not comment on a potential sale. Reference Link
11:52 EDTXOMExxon Mobil releases staement on Treasury Department sanctions on Russia
ExxonMobil announced that it is complying with all U.S. sanctions. The company said, "The U.S. Treasury Department, recognizing the complexity of the University-1 well and the sensitive Kara Sea arctic environment, has granted a license to ExxonMobil and other U.S. contractors and persons involved to enable the safe and responsible winding down of operations related to this exploration well. The license recognizes the need to protect the safety of the individuals involved in these operations as well as the risk to the environment. All activities related to the wind down will proceed as safely and expeditiously as possible."
11:11 EDTCMICaterpillar sales trends for August mixed, says Wells Fargo
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06:40 EDTSWFTRegulator sued over truck training requirements, NY Times reports
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September 18, 2014
18:21 EDTXOMExxon Mobil suspends Arctic oil drilling due to sanctions, Bloomberg reports
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17:08 EDTXOMExxon Mobil continues to increase Wolfcamp Position in Permian Basin
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17:04 EDTXOMLINN Energy, LinnCo announce Permian-California trade with Exxon Mobil
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September 17, 2014
05:38 EDTCOPWestern Refining to acquire Wingate Plant, assets from ConocoPhillips
Western Refining (WNR) announced that it has entered into an agreement for the acquisition of the 25,000 bpd idled Wingate Fractionation Plant in Gallup, New Mexico from ConocoPhillips (COP). The Wingate facility includes rail loading and offloading capabilities and storage facilities in addition to natural gas liquids fractionation capability. The transaction is expected to close in early October. Terms of the transaction were not disclosed. Jeff Stevens, Western's president and CEO said, "The strategic location of the Wingate facility is a great addition to the logistical assets of Western. It is conveniently located near our Gallup Refinery. This transaction will afford Western greater flexibility in the Four Corners region as it will provide approximately 125,000 barrels of pipeline-connected seasonal NGL storage for our Gallup Refinery; crude oil loading and transportation capabilities, both east and west, through the rail loading terminal; and pipeline connectivity to Western Refining Logistics (WNRL) assets."
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