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Stock Market & Financial Investment News

News Breaks
April 12, 2012
05:55 EDTDE, DE, UBS, UBS, DOW, DOW, WPO, WPO, XOM, XOM, BA, BA, C, C, HON, HON, ORB, ORB, SI, SI Export-Import Bank to host a conference
37th Annual Conference is being held in Washington, D.C. on April 12-13.
News For DE;ORB;HON;C;BA;XOM;WPO;DOW;UBS;SI From The Last 14 Days
Check below for free stories on DE;ORB;HON;C;BA;XOM;WPO;DOW;UBS;SI the last two weeks.
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April 4, 2014
06:43 EDTBADelta looking for offers from Boeing, Airbus for new jets, WSJ reports
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06:40 EDTBASpaceX to compete with Boeing-Lockheed JV for satellite launch, WSJ says
Elon Musk's SpaceX is expected to compete with a joint venture between Boeing (BA) and Lockheed Martin (LMT) for a contest to launch a military satellite next year, reports the Wall Street Journal. The Defense Department has also put a study into developing a new rocket engine that could reduce reliance on the Russian engine used on a rocket employed by Boeing-Lockheed JV. Reference Link
April 3, 2014
18:56 EDTBAOn The Fly: After Hours Movers
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17:36 EDTCCitigroup's Corbat enlists McQuade to lead the CCAR process over next year
In a regulatory filing, Citigroup disclosed that on April 3, it was announced that, at the request of Michael Corbat, the CEO of Citigroup, Eugene M. McQuade, the outgoing CEO of Citibank, will postpone his retirement and lead the Comprehensive Capital Analysis and Review, CCAR, process for Citi over the next year. McQuade will become Vice Chairman of Citi, remain on the Citibank board of directors and report directly to Citi’s CEO. Due to the importance of this effort and the substantial time commitment required by McQuade’s new role, Citi’s board of directors, in conjunction with Mr. McQuade’s consent, withdrew his nomination to serve on Citi's board of directors.
17:34 EDTBABoeing weighs buy of Mercury Systems, Reuters says
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16:00 EDTCOptions Update; April 3, 2014
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14:44 EDTBADelta may replace existing Boeing jets with new widebodies, Reuters says
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12:10 EDTCOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory, with the Dow notching a new all-time high, but had slid into negative ground at midday. The Nasdaq is the biggest loser, as it is down more than 0.6%, while the Dow and Nasdaq are just slightly below the flat line. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 326K in the week ended March 29, versus the expected 319K claims. The trade deficit widened to $42.3B in February from a revised $39.3B deficit in January. ISM's non-manufacturing PMI rose 1.5 points to 53.1 in March, though that was a bit below the 53.5 forecast of economists. In Europe, the ECB maintained its current rates despite the ongoing debate over disinflationary forces posing an increasing risk. In Asia, China's State Council announced a stimulus package for new railways and subways, low-income housing and tax breaks for small business, but most of the measures were part of the government's previously communicated annual economic work plan. COMPANY NEWS: Shares of Barnes & Noble (BKS) are declining after Liberty Media (LMCA) announced a deal to reduce its stake in the bookseller. Liberty said it has sold the majority of its shares to institutional buyers and will retain approximately 10% of its initial investment, which has been reported to equate to a roughly 2% stake in Barnes & Noble. B&N Chairman Leonard Riggio said that Liberty’s reduced ownership gives the company greater flexibility to pursue various strategic options, but shares of B&N slid 13% following the announcement... Citigroup (C) shares fell almost 2% after The New York Times said the federal government has started a criminal investigation into alleged fraud involving Citi's Banamex unit in Mexico. Also of note, research firm Sterne Agee downgraded the stock to Neutral, citing the Fed's refusal to approve the bank's capital plan, along with its slowing earnings growth and lack of catalysts, as reasons for the downgrade. MAJOR MOVERS: Among the notable gainers was Amyris (AMRS), which rose 8% after announcing that it is entering into a strain engineering research and development agreement with chemical giant BASF (BASFY). Also higher was chemical, paint, and coating maker RPM (RPM), which gained 4% and hit a fresh 52-week high earlier in the session after the company raised its fiscal 2014 profit outlook. Among the noteworthy losers was Liquidity Services (LQDT), which slid another 12% after the company confirmed it's withdrawal from auction bidding for a U.S. Department of Defense contract and said it will need to reset its adjusted earnings expectations. Also lower were shares of weight-loss drug maker VIVUS (VVUS), which fell nearly 8% following a downgrade to Underweight at Piper Jaffray. INDEXES: Near midday, the Dow was down 16.31, or 0.1%, to 16,556.69, the Nasdaq was down 26.65, or 0.62%, to 4,249.81, and the S&P 500 was down 3.48, or 0.18%, to 1,887.42.
11:07 EDTBABoeing reports 161 commercial deliveries in Q1
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10:00 EDTXOMOn The Fly: Analyst Initiation Summary
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10:00 EDTCOn The Fly: Analyst Downgrade Summary
BB&T (BBT) downgraded to Outperform from Strong Buy at Raymond James... Broadcom (BRCM) downgraded to Neutral from Overweight at Piper Jaffray... CF Industries (CF) downgraded to Neutral from Buy at Citigroup... CSX (CSX) downgraded to Equalweight from Overweight at Barclays... Cheniere Energy (LNG) downgraded to Neutral from Outperform at Credit Suisse... Citigroup (C) downgraded to Neutral from Buy at Sterne Agee... Deutsche Bank (DB) downgraded to Neutral from Overweight at JPMorgan... G&K Services (GK) downgraded to Neutral from Outperform at RW Baird... Marcus (MCS) downgraded to Neutral from Buy at B. Riley... National Retail Properties (NNN) downgraded to Sell from Neutral at UBS... Norfolk Southern (NSC) downgraded to Neutral from Overweight at Atlantic Equities... Orion Energy (OESX) downgraded to Hold from Buy at Ascendiant... VIVUS (VVUS) downgraded to Underweight from Neutral at Piper Jaffray... Liquidity Services (LQDT) downgraded to Neutral from Outperform at RW Baird... Shaw Communications (SJR) downgraded to Sector Performer from Outperformer at CIBC... USG (USG) downgraded to Neutral from Outperform at Macquarie... Level 3 (LVLT) downgraded to Hold from Buy at Gabelli... U.S. Bancorp (USB) downgraded to Neutral from Conviction Buy at Goldman... Extra Space Storage (EXR) downgraded to Buy from Conviction Buy at Goldman... First Republic Bank (FRC) downgraded to Buy from Conviction Buy at Goldman... TELUS (TU) downgraded to Neutral from Outperform at Macquarie.
09:37 EDTCActive equity options trading on open
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08:10 EDTCCitigroup downgraded at Sterne Agee
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07:19 EDTCCitigroup downgraded at Sterne Agee
As previously reported, Sterne Agee downgraded Citigroup to Neutral from Buy. The firm downgraded shares citing the Fed's concerns in the recent capital review, increasing regulatory risk, slowing earnings growth, and lack of meaningful catalysts to drive shares higher. Price target lowered to $52 from $60.
07:04 EDTDOWDow Chemical price target raised to $57 from $52 at UBS
UBS believes Dow Chemical's earnings are bottoming and that oil-based chemicals are near trough. The firm shifted its price target to 2015 estimates and raised it to $57 from $52 and maintains its Buy rating.
06:39 EDTXOMExxon Mobil initiated with an Underperform at BMO Capital
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06:24 EDTCU.S. launches criminal probe of Citigroup's Mexican unit, NY Times reports
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06:23 EDTBABoeing, Airbus rivalry moves to tanker market, WSJ reports
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06:23 EDTCCitigroup downgraded to Neutral from Buy at Sterne Agee
06:22 EDTBABoeing to cut as man as 300 Australian contrators, WSJ reports
Boeing plans to cut as many as 300 contractors from its Boeing Aerostructures Australia facility by the end of the year, reports the Wall Street Journal. The company said, "This was always our intention when the company's aircraft programs stabilized at full production rates." Reference Link
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