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Stock Market & Financial Investment News

News Breaks
February 5, 2014
11:03 EDTJNJ, XONE, DDD, SYK, VJET, GE, SSYS3D 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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April 10, 2015
06:42 EDTGEGE to work closely with FSOC to de-designate GE Capital as SIFI
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06:41 EDTGEGE industrial business remain on track for operating EPS of $1.10-$1.20
06:38 EDTGEBlackstone and Wells Fargo confirm acquisition of GE real estate assets
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06:35 EDTGEGE releases financial details of GE Capital assets sale
Approximately $16B of after-tax charges are expected to be recorded in the first quarter of 2015 in connection with the plan – of which about $12B are non-cash. The charges include taxes on repatriated earnings, asset impairments due to shortened hold periods, and charges on businesses held for sale, including goodwill allocation. GE expects that the earnings impact of the GE Capital exits will be offset by the buyback over the exit period. GE has amended its income maintenance agreement to guarantee all tradable senior and subordinated debt securities and all commercial paper issued or guaranteed by GECC. The guarantee will replace the current income maintenance covenant. GE will maintain substantial liquidity and capital through the transition and does not expect to issue incremental GE Capital long-term debt for at least five years. Commercial paper will be further reduced to approximately $5 billion by the end of 2015.
06:34 EDTGEGE could return more than $90B in dividends, buyback, Synchrony exchange
There is potential to return more than $90B to investors in dividends, buyback and the Synchrony exchange through 2018. The exits of the targeted GE Capital businesses should release approximately $35B in dividends to GE, which, under GE’s base plan, are expected to be allocated to buyback; this is in addition to the impact of the Synchrony exchange and ongoing dividends. The GE board has authorized a new repurchase program of up to $50B in common stock, excluding the Synchrony exchange. GE expects to reduce its share count to 8-8.5 billion by 2018. These actions would still allow room for opportunistic “bolt on” acquisitions in GE’s core markets. GE also said it plans to maintain its dividend at the current level in 2016 and grow it thereafter.
06:34 EDTGEGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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06:34 EDTGEBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
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06:34 EDTGEBlackstone Mortgage to acquire $4.6B loan portfolio from GE Capital
06:31 EDTGEGeneral Electric to sell most of GE Capital assets for approximately $26.5B
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05:52 EDTDDDStocks with implied volatility above IV index mean; DDD HOT
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April 9, 2015
16:17 EDTGEOn The Fly: Closing Wrap
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13:56 EDTGEGeneral Electric moves higher on deal to sell real estate portfolio
The shares were last at $25.26, trading up over 1%. At this price next resistance is at $26.27. Support is at $25.09, the 50-day moving average.
13:38 EDTGEGE close to selling real estate holdings, WSJ reports
General Electric (GE) is close to selling its real estate holdings to Blackstone (BX) and Wells Fargo (WFC), Wall Street Journal reports, citing people familiar with the matter. The portfolio has $30B in holdings, the Journal adds. Shares of GE moved up 25c to $25.26 following the report. Reference Link
13:35 EDTGEGE in discussions to sell all or part of real estate assets, Dow Jones says
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09:25 EDTJNJPiper Jaffray pharmaceuticals analysts hold an analyst/industry conference call
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April 8, 2015
17:25 EDTGECourt reverses $664M judgment against United Technologies
In a regulatory filing, United Technologies (UTX) reports that on April 6, the Sixth Circuit Court of Appeals rendered a decision in the litigation concering the F100 engine. The litigation arose from allegations by the U.S. Department of Justice that Pratt & Whitney -- a United subsidiary -- violated the civil False Claims Act relating to the competition between Pratt & Whitney's F100 engine and General Electric's (GE) F110 engine, resulting in alleged overpayments by the government for F100 engines under contracts awarded by the U.S. Air Force in fiscal years 1985-1990. On June 17, 2013, a trial court in Ohio rendered a decision awarding the government $473M in damages and penalties, plus prejudgment interest for a total judgment of approximately $664M. In its latest decision, the Sixth Circuit reversed the trial court’s judgment, noting that the government did not prove any damages, and remanded the case to the trial court to decide whether the government should have another opportunity to prove that it suffered any actual damages.
09:23 EDTJNJJohnson & Johnson April volatility elevated into Q1 and outlook
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09:13 EDTGEElectrolux sees GE Appliances deal closing in 2015
Electrolux (ELUXY) announced that results for the business area Major Appliances North America will be significantly lower than anticipated in Q1. Electrolux operations continue to be negatively impacted by the transition of the product ranges within refrigeration and freezers. This transition is a consequence of the new energy requirements imposed during the second half of 2014. Earnings are also affected by the ramp up of the cooking plant in Memphis, which has been slower than anticipated. Results for the business area in the first quarter 2015 will therefore be negative. A program to restore profitability and increase efficiency is under way. It will require most of 2015 before these actions will show full effect. The preparation work for the integration of GE Appliances (GE) is progressing well and Electrolux remains confident that the transaction will be closed in 2015. During the integration planning, additional synergies of $50M have been identified, in excess of the previously communicated $300M. Total cost synergies are now estimated to $350M.
07:24 EDTJNJNeurotechnology Industry Organization to hold a conference
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April 7, 2015
05:57 EDTDDDStocks with implied volatility above IV index mean; CMG DDD
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