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Stock Market & Financial Investment News

News Breaks
December 3, 2012
16:19 EDTHMA, F, SVU, GM, QIHU, DELL, QLGCOn The Fly: Closing Wrap
Stocks on Wall Street finished lower as some mixed economic data from the U.S. and abroad tempered investor enthusiasm. After a moderately higher open, fueled by positive news from China, the market drifted steadily lower through the session. Late day reports broke of a counter-offer being made by House Republicans regarding the fiscal cliff, though the news didn't move the averages as sharply as similar news has in recent days... ECONOMIC EVENTS: In the U.S., the ISM November manufacturing purchasing managersí index, or PMI, slid to 49.5, reflecting contraction, versus expectations for a 51.4 reading. Construction spending for the month of October increased 1.4%, versus an expected 0.5% rise. In Asia, the final reading of the HSBC China manufacturing PMI for November rose to 50.5 and a similar survey from the Chinese National Bureau of Statistics rose to a seven-month high of 50.6. In Europe, manufacturing activity contracted again but at a slower pace, as Markit's final November euro-zone PMI rose to 46.2 from 45.4 in October... COMPANY NEWS: Dell (DELL) shares opened sharply higher after Goldman upgraded the stock two notches, from Sell to Buy, though shares lost a little steam during the session. Dell finished the day up 42c, or 4.36%, to $10.06... November auto sales rose to what may be their highest annualized rate since February 2008, though General Motors' (GM) 3.4% increase missed expectations. Meanwhile, Ford's (F) November sales rose a better than expected 6.5%... MAJOR MOVERS: Among the notable gainers was Qihoo 360 (QIHU), up $2.45, or 9.80%, to $27.44 after Stifel Nicolaus said the company launched a music and a map vertical search engine. Also higher were shares of Supervalu (SVU), up 30c, or 12.61%, to $2.68 after a weekend report from the Wall Street Journal said Cerberus Capital would explore multiple options in its bid for the company. Among noteworthy losers was QLogic (QLGC), down 73c, or 7.70%, to $8.75 after the stock was downgraded to Sell from Neutral at Goldman. Also lower were shares of Health Management (HMA), down 45c, or 5.66%, to $7.50 after a negative mention in a "60 Minutes" report and a downgrade at CRT Capital, though the stock was defended or recommended by at least four other firms... INDICES: The Dow was down 59.98, or 0.46%, to 12,965.60; the Nasdaq was down 8.04, or 0.27%, to 3,002.20; and the S&P 500 was down 6.72, or 0.47%, to 1,409.46.
News For DELL;GM;F;QIHU;SVU;QLGC;HMA From The Last 14 Days
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August 21, 2015
09:02 EDTQLGCQLogic names Christine King as executive chairman, Jean Hu as acting CEO
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06:46 EDTGMGM recalling 5,493 2014-2015 Chevrolet Impala vehicles
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August 20, 2015
10:14 EDTFFord reports Europe sales up 5.3% in July
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05:46 EDTQIHUStocks with implied volatility movement; QIHU EOG
Stocks with implied volatility movement; Qihoo 360 (QIHU) 45, EOG Resources (EOG) 35 according to iVolatility.
August 19, 2015
13:35 EDTGMGM investing C$12M for added Chevrolet Equinox production at Oshawa Assembly
GM Canada president and managing director Steve Carlisle announced that GM will invest C$12M to increase Chevrolet Equinox production on the Consolidated production line at Oshawa Assembly and for related changes in the body shop at CAMI Assembly. This further investment in Ontario-based production and supplier tools will help to meet strong North American customer demand for the Chevrolet Equinox. The investment extends plans for ongoing Oshawa Assembly Consolidated Line production to 2017. GM has invested approximately C$800M in its Oshawa and St. Catharines operations over the past 3 years and recently announced a further $800M investment in its CAMI operation in Ingersoll, Ontario.
08:01 EDTQLGCQLogic announces strategic partnership with ASI
QLogic announced a strategic distribution agreement with ASI, a distributor of solution building I/O and reference architecture blueprints to its family of over 12,000 VARs throughout North America. QLogic and ASI will work together to provide increased sales and profitability to resellers who deliver optimized server and storage networking infrastructure solutions for next generation workloads to cloud, enterprise and telco customers in the U.S.
August 18, 2015
16:50 EDTGMGM's future Buick production may shift to Europe, China, Reuters reports
According to two sources familiar with General Motors' plans, the majority of Buick vehicles sold in the United States after 2016 may be imported from China and Europe, Reuters reports. Reference Link
15:58 EDTGMGM's future Buick production may shift to Europe, China, Reuters reports
12:11 EDTFSEC joins German probe of Ford's alleged bribery, Reuters reports
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12:05 EDTFFord recalls roughly 26,400 vehicles in NA for seat belt malfunction
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August 17, 2015
07:42 EDTF, GMNew Street-high target of $465 gives Tesla shares a charge
Shares of Tesla Motors (TSLA) are jumping after Morgan Stanley boosted its price target by $185 to $465, a new high among Wall Street analysts. The company is positioned to dominate as car sales shift to robot-driven and shared vehicles, the firm argues. SELLING MILES: Morgan Stanley analyst Adam Jonas raised his price target for Tesla Motors to $465 from $280, well above Friday's closing price of $243.15. Today, ten trillion vehicle miles are driven annually, with almost all of them delivered by "companies practicing a 100-year-old business model of human-driven, privately owned, internal-combustion vehicles," Jonas tells investors in a research note. General Motors (GM), Ford (F), Toyota (TM) and Honda (HMC) are among the publicly traded traditional carmakers. The market of selling cars is going through some fundamental changes, argues Jonas. He believes Tesla is "uniquely positioned" to dominate given its expertise in autonomous technology and networked machine learning. An app-based, on-demand mobility service could more than triple Tesla's potential revenues by 2029, the analyst estimates. He expects Tesla over the next 18 months to roll out formalized business plans on shared mobility, allowing the electric vehicle maker to sell miles in addition to cars. His new price target of $465 reflects Tesla's potential to lead the revolution of the shared mobility public transportation hyper-structure and more confidence around the commercial viability of Tesla Energy. ROBOT-DRIVEN: Jonas expects nearly all car sales to eventually shift from human-driven, individually-owned cars to robot-driven and shared cars. If Tesla wants to succeed on its mission of accelerating the world's transition to sustainable transport, the move to a shared mobility model is critical, he argues. All of Tesla's cars are electric, connected, and able to "learn" through over-the- air firmware updates at any time, which no other established automaker can claim today, Jonas writes. MARKET REACTION: Investors are buying into what Jonas is arguing. Shares of Tesla are up 5%, or $13.10, to $256.25 in pre-market trading. Over the past three months through Friday's close, the stock is down 2%.
07:39 EDTDELLTMC to hold a conference
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August 16, 2015
15:44 EDTGMGeneral Motors to invest 'several million' in historic factory renovation
General Motors announced that the "historic" Durant-Dort Factory One will be converted into an archive and research center as part of a renovation project. GM will invest several million dollars to create a modern archive to house the automotive collection currently located at Kettering University. The archive and research center will occupy the first floor of the east wing of Factory One. GM plans to develop the second floor of the east wing into a meeting area for GM, community and educational groups to conduct STEM-related classes, seminars and, potentially, research. The high-bay area in the west wing of the facility will be renovated to house classic vehicles and other historical artifacts. Once plans are finalized and a general contractor is selected, work on the archive and other interior projects could begin in early 2016 with the project completed in 2017, according to GM. Reference Link
August 14, 2015
17:29 EDTGMGreenlight Capital gives quarterly update on stakes
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16:57 EDTGMSoros gives quarterly update on stakes, increases Facebook position
NEW STAKES: Time Warner Cable (TWC), Schwab (SCHW), Alcoa (AA), NRG Energy (NRG), and Pacira (PCRX). INCREASED STAKES: Facebook (FB), Monsanto (MON), Nextera (NEE), Qunar (QUNR), and Rovi (ROVI). DECREASED STAKES: Alibaba (BABA), General Motors (GM), Motorola Solutions (MSI), EQT Corp (EQT), and Noble Energy (NBL). LIQUIDATED STAKES: Cenovus (CVE), Kite Pharma (KITE), Tempur Sealy (TPX), CF Industries (CF), and Suncor Energy (SU).
16:37 EDTGMAppaloosa gives quarterly update on stakes, takes stake in Apple
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13:03 EDTGMOmega Advisors gives quarterly update on stakes, discloses stake in Google
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12:37 EDTGMOn The Fly: Top stock stories at midday
Stocks began the session with modest losses, despite a stabilization in the Chinese yuan overnight. Relatively in line data on producer prices and industrial production did not hurt the situation, but there was also the lack of a catalyst. As a result, the market has drifted throughout the morning session moving up as much as 0.4% before paring its gains. The market is now struggling to hold onto its meager gains. ECONOMIC EVENTS: In the U.S., both industrial production and PPI beat estimates, with industrial production increasing 0.6% and PPI increasing 0.2%. Consumer sentiment for August fell to 92.9 in the preliminary report from the University of Michigan survey, after slipping to 93.1 in July from 96.1 in June. Meanwhile, Euro-area GDP rose 0.3% last quarter. Germany's economy grew 0.4%, Italy's 0.2%, while France stagnated. The Baker Hughes North American rig count report is out at 1 p.m. ET. COMPANY NEWS: General Electric (GE) announced an agreement to sell GE Capital Bank's U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (GS). Under this agreement approximately $16B of deposits will be transferred to GS Bank. Separately, Goldman Sachs is selling its Colombia coal mining division to privately held Murray Energy. General Motors (GM) is boosting production of its larger SUVs and trucks, according to Reuters. The automaker could make as many as 60,000 additional vehicles for the 2016 model year to capitalize on rising demand. Meanwhile, GM is recalling 73,424 small cars because improper wiring could prevent the roof-mounted driver's side air bag from deploying after a crash, the Associated Press reported. SunTrust analyst Robert Peck said he believes Twitter (TWTR) could announce a permanent CEO as early as next week. Peck continues to think Twitter is likely to unveil a "Triumvirate of leadership" with Jack Dorsey as CEO, Adam Bain as COO and Evan Williams with more board influence, possibly Chairman. Tesla's (TSLA) secondary offering of 2.7 million common shares was priced at $242 each, according to an SEC filing. That represents an increase from the 2.1 million shares Tesla had previously announced for the offering. MAJOR MOVERS: Among the notable gainers following their earnings reports were department store retailers Nordstrom (JWN) and J.C. Penney (JCP), which gained 5.35% and 5.95%, respectively. Also higher was WuXi PharmaTech (WX), up 5.45%, which reported earnings and entered into an agreement to be acquired by a management buyout group for around $3.3B. Cyberark Software (CYBR) also gained 1.8% after being upgraded to Outperform from Market Perform at Wells Fargo. Among the noteworthy losers was El Pollo Loco (LOCO), which dropped 18% after its Q2 revenue fell short of analysts' estimates. Also lower were shares of King Digital (KING), which declined nearly 12% after reporting quarterly earnings and forecasting gross bookings for the third quarter $460M-$485M, citing "recent trends." The company said fourth quarter gross bookings would be "fairly consistent sequentially." JPMorgan downgraded King Digital this morning to Neutral from Overweight citing an elevated risk profile following the results. INDEXES: Near midday, the Dow was up 42.43, or 0.24%, to 17,450.68, the Nasdaq was fractionally lower by 2.96, or 0.06%, to 5,030.59, and the S&P 500 was up 3.46, or 0.17%, to 2,086.89.
09:37 EDTQIHUActive equity options trading on open
Active equity options trading on open: AAPL TWTR FB NFLX TSLA QIHU JCP BABA BP
07:37 EDTSVUJANA reports new stakes in Allergan, TWC, sells Applied Materials
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