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Stock Market & Financial Investment News

News Breaks
February 5, 2014
11:03 EDTGE, SSYS, JNJ, XONE, DDD, SYK, VJET3D printer makers tumble after profit warning from 3D Systems
Shares of 3D printer makers are sinking after the largest company in the sector in terms of market capitalization, 3D Systems (DDD), pre-announced lower than expected fiscal 2013 profit and gave a disappointing earning outlook for next year. WHAT'S NEW: 3D Systems reduced its fiscal 2013 earnings per share outlook to 83c-87c from 93c-$1.03. Analysts' consensus estimate was 96c. However, the company reported preliminary fiscal 2013 revenue of $513 million-$514 million, within its previous outlook of $500M-$530M. Analysts' consensus estimate was $514.24M. 3D Systems blamed its lower than expected fiscal 2013 EPS on "very significant R&D, manufacturing and marketing investments designed to accelerate revenue growth," along with weaker than expected demand for its parts and consumer products. For fiscal 2014, 3D Systems predicted that its EPS would be 73c-85c, versus analysts' consensus estimate of $1.27. However, the 3D printer maker expects its fiscal 2014 revenue to come in at $680M-$720M, versus the consensus estimate of $671.29M. ANALYST REACTION: In a note to investors earlier today, Jefferies analyst Peter Misek wrote that 3D Systems' opportunity in the professional and industrial markets is "only just beginning." 3D Systems' guidance is "appropriately conservative," wrote Misek, adding that his research suggests that the 3D printer maker is likely to announce deals with at least three major companies in 2014: Stryker (SYK), Johnson & Johnson (JNJ), and GE (GE). Misek kept a Buy rating on the stock. PRICE ACTION: In mid-morning trading, 3D Systems tumbled 22% to $59.25, but the stock was well above its low for the day of $54.63. Likewise, another major 3D printer maker, Stratasys (SSYS), retreated 8% to $108.60, but was well off its low for the day of $102.20. Another company in the space, ExOne (XONE), sank 10% to $40.27, while European 3D printer maker Voxeljet (VJET) gave back 6% to trade near $32.
News For DDD;SSYS;VJET;XONE;GE;SYK;JNJ From The Last 14 Days
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August 31, 2015
17:35 EDTGEGeneral Electric completes sale of U.S. fleet services to Element Financial
GE announced that it has completed the previously announced sale of its U.S. fleet services business, representing aggregate ending net investment of approximately $4.4B, to Element Financial in a transaction valued at approximately $5B. Separately, the previously announced sale of GE's Mexican, Australian and New Zealand fleet businesses to Element is expected to close at the end of the third quarter, and the sale of GE's European fleet businesses to Arval, a fully-owned subsidiary of BNP Paribas, is expected to close in the fourth quarter. The U.S. fleet services transaction releases approximately $0.6B of capital. GE Capital believes it is on track to deliver about $35B of dividends to GE under this plan, as previously announced.
August 30, 2015
12:33 EDTGEDividend-rich blue chips look attractive amid market volatility, Barron's says
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August 28, 2015
12:31 EDTGEGE drops Dallas for headquarters move on Ex-Im opposition, Bloomberg reports
General Electric has dropped the Dallas area as a possible relocation site for its headquarters due to concerns over Texas' political climate, Bloomberg reports, citing people familiar with the matter. GE is worried about Texas lawmakers' opposition to the U.S. Export-Import Bank, a source of financing some overseas sales, the report says. Reference Link
06:21 EDTGEWells Fargo front-runner to purchase GE's railcar unit, Bloomberg reports
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August 27, 2015
19:49 EDTJNJJohnson & Johnson to open shared services headquarters in Florida
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13:41 EDTGEGeneral Electric volatility elevated on wide price movement
General Electric current 30-day call option implied volatility is at 23, compared to a one-month ago level of 16, suggesting large price movement.
August 26, 2015
17:52 EDTGEGE, PTC participate in $82M funding round for ServiceMax
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09:33 EDTGEActive equity options trading on open
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August 25, 2015
13:01 EDTJNJJ&J unit to sell Splenda brand to Heartland Food, terms not disclosed
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09:35 EDTGEActive equity options trading on open
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09:03 EDTJNJAcorda has major overhang removed by IPR denials, says Leerink
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07:32 EDTSYKStryker margins poised to increase, says Stifel
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06:28 EDTGEGE eyes compensation for Polish forex loan conversion, Reuters says
General Electric is eyeing compensation for losses incurred by its Polish unit Bank BPH due to the planned conversion of Swiss-franc denominated mortgages into zlotys, Reuters reports, citing a letter sent from GE Capital CEO Keith Sherin to Polish authorities. According to the letter, GE saw further possible damage to BPH, following a 10% decline in BPH shares on the day the bill on the conversion was preemptively passed by the lower house of parliament. Reference Link
06:18 EDTJNJSears names Lynn Pendergrass as Hardlines president
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August 24, 2015
19:30 EDTGEGeneral Electric to eliminate Lufkin oil 262 jobs in TX, Reuters says
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August 21, 2015
17:02 EDTGEGeneral Electric completes sale of U.S. Sponsor Finance Business to CPPIB
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09:01 EDTJNJ, SYKLeerink medical devices analyst holds an analyst/industry conference call
Medical Device Analyst Newitter, along with MEDACorp Specialists Dorance Dillon and Terence Farrell, discuss the Centers for Medicare & Medicaid Services' recently proposed "Comprehensive Care For Joint Replacement Payment Model" and how this model might influence ortho pricing and hospital-vendor relationships on an Analyst/Industry conference call to be held on August 24 at 1 pm.
August 20, 2015
11:33 EDTJNJLeerink major pharmaceuticals analyst holds an analyst/industry conference call
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08:01 EDTGEGE to provide CESP with 30MW battery energy storage system
GE announced it will provide Coachella Energy Storage Partners with a 30-MW battery energy storage system as part of CESP's supply contract with the Imperial Irrigation District. Representing GE's largest energy storage project to date, the plant will be located in California's Imperial Valley, approximately 100 miles east of San Diego. The facility will aid grid flexibility and increase reliability on the IID network by providing solar ramping, frequency regulation, power balancing and black start capability for an adjacent gas turbine. GE will provide CESP with an integrated energy storage solution, configured using GE's Mark* VI plant controls, GE Brilliance MW inverters, GE Prolec transformers, medium-voltage switchgear and advanced lithium ion batteries housed in a GE purpose-built enclosure. The plant will be operated by ZGlobal, an engineering collaborator with CESP, for the first 18 months, after which control will transfer to the IID. The deal marks GE's third project using lithium ion battery technology since expanding its portfolio in recent months. GE anticipates project construction will begin early next year, with commercial operation scheduled for the third quarter of 2016.
August 19, 2015
08:05 EDTGEGE Capital unit selected by Bush Hog for financing solutions
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