New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
November 9, 2012
12:26 EDTDIS, JCP, GRPN, KYAK, PCLN, ZIP, LGF, SCLN, STRAOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as positive economic data in the U.S. and China temporarily distracted investors from worrying over political deadlock getting in the way of progress. The averages opened lower but two economic reports issued near 10 am ET provided a catalyst for a bounce. The averages moved into positive territory ahead of House Speaker John Boehner’s speech on tackling the fiscal cliff crisis and the averages stood near session highs around noon... ECONOMIC EVENTS: In the U.S., import prices rose 0.5% in October from the prior month, versus expectations for them to be flat. Export prices in October were unchanged. The preliminary University of Michigan consumer sentiment reading for November came in at 84.9, versus the expected 82.9. Wholesale inventories were reported to have increased 1.1% in September, versus expectations for an increase of 0.4%. Also, the Congressional Budget Office estimated that going over the fiscal cliff would cut U.S. economic output by about 3%, driving the nation back into recession next year. In Europe, French industrial production fell 2.7% in September from August and the Bank of France warned its economy, Europe’s second-largest, may be poised to tip into recession. In China, factory output rose 9.6% in October from a year earlier, beating expectations, and inflation unexpectedly cooled to the slowest pace in 33 months... COMPANY NEWS: Three well known brand names were down after their companies' quarterly reports: Disney (DIS), J.C. Penney (JCP) and Groupon (GRPN). Disney was the Dow Industrial average's worst performer, falling nearly 6%, after its earnings were in-line with consensus but revenues were lighter and Janney Capital downgraded the stock to a Neutral rating. J.C. Penney shares slid about 6% as well after it reported a worse than expected loss and said same store sales dropped 26.1%, making for its third straight quarter of losses and double digit sales declines. Groupon's stock was hardest hit, plunging 27% in midday trading, after it was downgraded by at least four firms and price targets were lowered at several others following the company's disappointing Q3 results and Q4 guidance... MAJOR MOVERS: Among the notable gainers was Kayak Software (KYAK), which jumped 27% after agreeing to be acquired by Priceline.com (PCLN) in a stock and cash transaction equivalent to $40 per share of Kayak stock. Shares of Priceline advanced fractionally after the deal announcement. Advancers after their earnings reports included Zipcar (ZIP), which jumped over 21%, and Lions Gate Entertainment (LGF), which rose almost 13%. Among the noteworthy losers were SciClone (SCLN), down 24% after cutting its 2012 adjusted earnings view, and Strayer Education (STRA), down 16% after its full-year earnings outlook was well below consensus estimates and the company suspended its dividend... INDICES: Near noon, the Dow was up 65.43, or 0.51%, to 12,876.75; the Nasdaq was up 30.87, or 1.07%, to 2,926.45; and the S&P 500 was up 12.46, or 0.90%, to 1,389.97.
News For DIS;JCP;GRPN;KYAK;PCLN;ZIP;LGF;SCLN;STRA From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
October 13, 2014
10:06 EDTJCPJ.C. Penney rises after selecting Home Depot executive as next CEO
Subscribe for More Information
08:38 EDTJCPJ.C. Penney names Marvin Ellison CEO-Designee
The board of J. C. Penney (JCP) announced the appointment of Marvin Ellison, currently executive vice president of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board. He will then succeed Myron E. Ullman, III as CEO of JCPenney on August 1, 2015. At that time, Ullman will become executive chairman of the board for a period of one year.
06:15 EDTJCPJ.C. Penney downgraded to Sell from Neutral at UBS
UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.
October 12, 2014
15:10 EDTDISDisney's Maker Studios to create programming for parent company, Bloomberg says
Subscribe for More Information
October 10, 2014
16:22 EDTPCLNPriceline raises stake in Ctrip.com to 6.88% from 5.84%
Subscribe for More Information
13:17 EDTDISNielsen to restate some TV rating due to software glitch, Variety reports
Nielsen (NLSN) acknowledged it uncovered a software error on October 6 that had resulted in TV ratings being allocated incorrectly among broadcast and syndication programming since March 2 and that it would restate the ratings accordingly to fix the errors, reported Variety. The company said 98% to 99% of ratings would not be affected by more than .05 of a ratings point and a person familiar with the situation said some TV networks have an expectation that some of their new fall programming will see a very slight uplift due to the restatement, the report noted. The big four broadcast networks are operated by CBS (CBS), Comcast (CMCSA), Disney (DIS) and 21st Century Fox (FOXA). Reference Link
10:01 EDTJCP, GRPNOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
09:00 EDTGRPNOn The Fly: Pre-market Movers
Subscribe for More Information
08:13 EDTGRPNGroupon downgraded to Sell from Equal Weight at Evercore
07:57 EDTJCPJ.C. Penney downgraded to Sell with $4 target at Maxim
Subscribe for More Information
07:10 EDTJCPJ.C. Penney downgraded to Sell from Hold at Maxim
Subscribe for More Information
October 9, 2014
18:11 EDTDISDisney CEO Iger says Shanghai Park to avoid Paris' troubles, Bloomberg reports
Disney CEO Bob Iger said the company's theme park in Shanghai, which is slated to open in 2015, will not experience the same problems that its Paris facility did, Bloomberg reports. Reference Link
14:43 EDTPCLNPriceline.com August volatility flat as shares trend lower
Priceline.com October call option implied volatility is at 25, November is at 28, January is at 25; compared to its 26-week average of 28 according to Track Data, suggesting non-directional price movement.
12:46 EDTSTRADoE policy changes a negative for select Education stocks, says Deutsche Bank
Subscribe for More Information
10:00 EDTJCPOn The Fly: Analyst Downgrade Summary
Subscribe for More Information
08:13 EDTJCPJ.C. Penney EBITDA guidance appears aggressive, sasy Morgan Stanley
Subscribe for More Information
07:56 EDTJCPJ.C. Penney downgraded at Craig-Hallum
Subscribe for More Information
07:43 EDTJCPJ.C. Penney downgraded to Sell from Hold at Craig-Hallum
07:12 EDTLGFLionsgate outlook has improved, says Stifel
Subscribe for More Information
06:56 EDTJCPJ.C. Penney pullback a buying opportunity, says Piper Jaffray
Piper Jaffray views yesterday's pullback in shares of J.C. Penney as a buying opportunity, saying the company's turnaround "is very much underway." Piper notes that despite saying Q3 comps are tracking low-single-digits versus prior guidance of mid-single-digits, J.C. Penney management reiterated full-year guidance. The firm reiterates an Overweight rating on Penny with a $13 price target following yesterday's analyst day.
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use