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Stock Market & Financial Investment News

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March 18, 2013
05:55 EDTDOW, DOW, DOW, BASFY, BASFY, BASFY, JCI, JCI, JCI, EMC, EMC, EMC, BP, BP, BP, CVE, CVE, CVE, GOOG, GOOG, GOOG, HTGC, HTGC, HTGC, MS, MS, MS, ECL, ECL, ECL, VE, VE, VE, WM, WM, WM, WMT, WMT, WMTCleantech Group to host a forum
Clean Tech Forum San Francisco is being held in San Francisco on March 18-20.
News For DOW;WM;VE;ECL;MS;HTGC;GOOG;CVE;BP;EMC;JCI;BASFY;WMT From The Last 14 Days
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July 17, 2014
07:21 EDTMSMorgan Stanley says #2 in announced M&A, #3 in IPOs
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07:19 EDTMSMorgan Stanley says results included net discrete tax benefit of 31c per share
07:19 EDTMSMorgan Stanley reports Q2 EPS 60c ex-DVA, tax benefit, consensus 55c
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07:18 EDTMSMorgan Stanley reports Q2 Institutional Securities revenue $4.2B
Institutional Securities net revenues for the current quarter were $4.2B compared with $4.4B a year ago. DVA resulted in positive revenue of $87M in the current quarter compared with $175M a year ago. Excluding DVA, net revenues for the current quarter of $4.2B were relatively unchanged from a year ago. Wealth Management net revenues for the current quarter were $3.7B compared with $3.5B a year ago. Investment Management net revenues of $692M increased from $673M in the prior year. Results reflect higher gains on investments in Merchant Banking and higher results in Traditional Asset Management, partly offset by lower revenues in the Real Estate Investing business driven by the deconsolidation of certain legal entities associated with a real estate fund sponsored by the Firm.
07:18 EDTMSMorgan Stanley reports Tier 1 risk-based capital ratio approx. 15.2% at June 30
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07:17 EDTMSMorgan Stanley reports Q2 EPS 94c, consensus 55c
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06:50 EDTGOOGAirbus considering partnering with high tech companies, NY Times says
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06:47 EDTGOOGGoogle plans big push in India for Android One initiative, The Informations says
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06:38 EDTMSStudy says UBS largest private bank with assets near $2T, Reuters says
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July 16, 2014
17:39 EDTGOOGeBay says Google search algorithm change slowed traffic in June
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16:00 EDTGOOGOptions Update; July 16, 2014
iPath S&P 500 VIX Short-Term Futures down 70c to 27.25. Option volume leaders: AAPL FB GOOG AMZN TWTR TSLA C HPQ TWX INTC AMZN according to Track Data.
15:02 EDTMSMorgan Stanley July 32.5 straddle priced for 3.3% move into Q2
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14:57 EDTMSEarnings Preview: Morgan Stanley to report amid optimism on Wealth Management
Morgan Stanley (MS) is scheduled to report second quarter earnings before the open on Thursday, July 17 with a conference call scheduled for 10:00 am ET. Morgan Stanley is a bank holding company. EXPECTATIONS: Analysts are looking for EPS of 55c on revenue of $8.2B, according to First Call. The consensus range for EPS is 52c-64c on revenue of $7.58B-$8.65B. Morgan Stanley (MS) reported stronger than expected first quarter results, as the company's revenue rose to $8.9B from $8.2B. The company's wealth management unit generated pre-tax income of $691M, versus $597M in the same period a year earlier. Morgan Stanley's investment management unit saw its pre-tax income from continuing operations rise to $263M from $187M, while the pre-tax income of its institutional Securities division rose $1.4B, up from $799M. Morgan Stanley's wealth management business will continue growing and the business' return on equity will eventually be well over 10%, said the company's CEO, Tom Gorman last month, according to The New York Times. But declines in the bank's fixed income revenues may make it harder for its securities businesses to exceed a 10% return on equity, and the firm has significantly reduced its trading operations, the newspaper quoted the CEO as saying. PEERS: On July 15, Goldman Sachs reported stronger than expected results, as the bank's investment banking unit saw its net revenue rise 15% year-over-year, while the net revenues generated by its Institutional Client Services unit dropped 11%. But Goldman's investing and lending unit saw its net revenues surge 46% year-over-year. Citigroup (C), on July 14, reported higher than expected Q2 EPS excluding certain items but lower than expected revenue. Revenue from Citi's Institutional Client Group dropped 11%, as revenue from fixed income and equity markets fell. STREET RESEARCH: On July 10, research firm Bernstein recommended Morgan Stanley's stock due to its exposure to high margin investment banking. Bernstein also liked Morgan Stanley because of its exposure to wealth management. PRICE ACTION: Morgan Stanley is up almost 9% over the last three months and it has surged over 23% in the last twelve months.
13:18 EDTBPBP aims to invest $10B in Egypt gas project, Daily News Egypt says
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12:47 EDTGOOGYahoo falls after results disappoint, details additional plans for Alibaba stake
Shares of media and search engine company Yahoo (YHOO) are falling after the company's second quarter results fell short of analysts' consensus estimates. The company also said it will lower the amount of stock it will sell in Alibaba's initial public offering to 140M shares and that it plans to return "at least half" of its after-tax proceeds from the stake sale to its shareholders. WHAT'S NEW: Last night, Yahoo reported Q2 earnings per share of 37c and revenue ex-tac of $1.04B, narrowly missing analysts' consensus estimates of 38c and $1.08B, respectively. The company's Q2 display ad revenue fell 7% to $394M, while Q2 price per ad fell 24% versus last year. Q2 search revenue ex-tac increased 6% to $428M. Yahoo said that in Q2, the number of ads sold increased approximately 24% compared to last year, while the number of paid clicks increased approximately 3%. Price-per-click increased 15% compared to last year. Marissa Mayer, Yahoo's Chief Executive Officer, said that as the company's top priority is revenue growth, it is "not satisfied" with Q2 results. Mayer noted that several areas showed strength in the quarter, including Yahoo Search, which grew 6% year-over-year on a revenue ex-tac basis, but their growth was offset by declines. Meyer says the company needs to "work faster to ameliorate" negative trends in display. Mayer says the company "can and will do better" going forward. WHAT'S NOTABLE: Looking ahead, Yahoo forecast third quarter revenue ex-tac of $1.02B-$1.06B, below the consensus of $1.1B. The company also guided Q3 adjusted earnings before interest, taxes, depreciation and amortization, or EBTIDA, at $220M-$260M and non-GAAP operating income of $70M-$110M. Yahoo also noted that it will lower the number of shares it sells in the Alibaba IPO to 140M from 208M, and is committed to return at least half of the after-tax IPO proceeds to shareholders. Mayer noted on the company's earnings conference call that "A transformation of this size will take several years," adding that "it will take a little longer than originally forecasted." ANALYST REACTION: This morning, research firm CRT Capital downgraded Yahoo to Fair Value from Buy, citing mixed Q2 earnings and weak guidance. The firm sees pressure on ad pricing continuing for at at least two to three quarters. Another firm, Bernstein, lowered their price target on Yahoo to $40 from $43 following the company's weaker than expected results and said that it would return 50% of its proceeds from the Alibaba IPO to shareholders. The firm thinks there is an increased risk that Yahoo will use the other 50% on M&A, and Bernstein sees high risk that the M&A will destroy value. Bernstein kept an Outperform rating on the stock. Piper Jaffray said Yahoo should be owned ahead of the Alibaba IPO, noting its agreement with Alibaba to reduce the number of shares it will sell at the IPO should outweigh the "unsurprising" challenges in the company's core business. The firm, which kept an Overweight rating on the stock, expects the stock to react positively on the Q2 earnings report. PRICE ACTION: In early afternoon trading, Yahoo fell $1.66, or about 4.7%, to $33.95 on heavy trading volume. Despite today's pull back, the stock is up approximately 25% over the past 12 months. OTHERS TO WATCH: Yahoo peer AOL (AOL) is down over 4.% to $38.98. Jackie Reses, Yahoo's chief of mergers and acquisitions, said at the Fortune Brainstorm Tech Conference that the company is not planning to buy AOL, Re/code reported this morning. Mayer previously told a number of people that she does not "get" the merger.
11:45 EDTJCIJohnson Controls July volatility elevated into Q2 and outlook
Johnson Controls July call option implied volatility is at 48, October is at 23; compared to its 26-week average of 23, suggesting large near term price movement into the expected release of Q3 results on July 18.
10:58 EDTGOOGSamsung in talks to buy SmartThings for about $200M, TechCrunch reports
Samsung is in talks to acquire SmartThings, a company in the home automation space that allows users to connect devices like lights and doorlocks to a system controlled by their mobile phone, TechCrunch reports. The purchase price is said to be around $200M. Reference Link
09:03 EDTDOWEPA grants VOC-exempt status to ANGUS' AMP multifunctional paint additive
ANGUS Chemical Company, a wholly owned subsidiary of Dow, announced that AMP, a multifunctional specialty chemical thatís widely used in latex paint formulations, is no longer classified as a volatile organic compound under a final rule by the U.S. Environmental Protection Agency.
06:27 EDTBPBP retirement-plan case reintroduced by U.S. court, Reuters says
The 5th U.S. Circuit Court of Appeals in New Orleans brought back a case in which participants in four BP worker retirement savings plans alleged they were tricked into purchasing and holding BP stock before and after the 2010 Deepwater Horizon disaster, according to Reuters, citing comments from BP spokesman Geoff Morrell. Reference Link
06:14 EDTGOOGABI Research: More than 2B smartphones to ship in 2018, DigiTimes says
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