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Stock Market & Financial Investment News

News Breaks
July 28, 2013
20:26 EDTDD, F, OI, ADSKFord, Autodesk, Owens-Illinois, DuPont are plays EU recovery, Barron's says
Ford (F), Autodesk (ADSK), Owens-Illinois (OI), and DuPont (DD) are ways to play Europe's recovery with U.S. stocks, Barron's reports in a feature article. Reference Link
News For F;ADSK;OI;DD From The Last 14 Days
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January 26, 2016
12:16 EDTDDOn The Fly: Top stock stories at midday
Stocks began the session in positive territory moved cautiously in the opening segment, before shooting higher following the better than expected consumer confidence reading. The Dow is the biggest winner and is up more than 1.5% while the Nasdaq has been lagging but is up more than 0.6%. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. In Asia, Japan's Nikkei index fell 2.35% while China's Shanghai composite slid 6.4%. COMPANY NEWS: The volume of earnings reports took a step up, with four members of the bluechip Dow Jones Industrial Average posting results before the opening bell this morning. All four advanced on the heels of their reports, with 3M (MMM) leading the pack with a gain of 4.5% despite earnings, excluding restructuring charges, that missed the consensus forecast. The industrial conglomerate did, however, affirm its performance expectations for the new fiscal year. Meanwhile, Johnson & Johnson (JNJ) rose 3%, Procter & Gamble (PG) gained 2.7% and DuPont (DD) added 1.6%... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over next two years and announcing that it has agreed to sell AIG Advisor Group to private equity firm Lightyear Capital and Canadian pension investment manager PSP Investments. AIG also said it will pursue an initial public offering of United Guaranty in mid-2016 to sell up to 19.9% of the outstanding shares as a first step towards a full separation. However, the insurer said it believes a full breakup, as espoused by investor Carl Icahn, would detract from shareholder value, arguing that a lack of diversification benefits would reduce capital available for distribution and there would be a loss of tax benefits. MAJOR MOVERS: Among the notable gainers was Avis Budget (CAR), which rallied 7% after the company raised its share repurchase authorization by $300M and after SRS Investment reported a 9.5% stake in the company. Also higher were Sprint (S) and Coach (COH), which gained 20% and 11%, respectively, after reporting quarterly earnings. In addition, FirstMerit (FMER) rose 16% after reporting quarterly earnings and announcing that it will merge with Huntington Bancshares (HBAN) in a deal valued at $3.4B. Huntington Bancshares fell 10% after the FirstMerit merger agreement was announced. Also lower was Stratasys (SSYS), which dropped 6% after JPMorgan downgraded the shares to Neutral from Overweight. In addition, Polaris (PII) and Waters Corporation (WAT) were down 11% and 4.5%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 273.66, or 1.72%, to 16,158.88, the Nasdaq was up 49.20, or 1.09%, to 4,567.69, and the S&P 500 was up 25.96, or 1.38%, to 1,903.04.
11:51 EDTFFord expands safety recall on vehicles with Takata airbag inflators
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11:43 EDTFFord to host sales conference call
Conference call to discuss January Sales Results will be held on February 2 at 10 am. Webcast Link
09:28 EDTDDCorning sees Q1 global economic headwinds to continue in Q1
Corning's (GLW) management said that volume in Q1 will reflect the weaker retail market. Management said that Q1 will be the weakest quarter in the fiscal year. The company sees glass market volumes to be down mid-to-high single digits. The company expects glass market volume growth to begin in Q2. The company sees prices to decline moderately sequentially in Q1. The company sees its optical communications segment up low-to-mid single digits. The company sees environmental sales down approximately 10% in Q1. Corning expects its special materials segment sales down mid teens. The company expects its life sciences sales up low-single digits. Dow Corning, Corning's joint venture with Dow Chemical (DD), equity earnings are expected to be approximately $45M in Q1. Corning sees core gross margin approximately 41% of sales in Q1. Guidance provided during Q4 earnings conference call.
08:29 EDTDDDuPont sees Agriculture Q1 sales down about 10%
In Agriculture, DuPont sees Q1 sales down about 10%, as local price gains are more than offset by lower crop protection and soybean volumes and currency; volumes will be more challenged in the first quarter due to the strong start in North America corn seed which benefited the fourth quarter of 2015. Sees Q1 segment operating earnings down low-twenty percent as local price gains are more than offset by lower volumes and currency. For full year, sees Agriculture sales down mid-single digits percent, as local price gains are more than offset by currency and lower crop protection and soybean volumes, with operating earnings about flat as local price gains and cost reductions and productivity are offset by currency and lower volumes; Sees FY Agriculture operating earnings up about 10% excluding currency.
08:26 EDTDDDuPont sees Q1 Performance Materials sales down high-single digits
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08:24 EDTDDDuPont sees Q1 Safety & Protection sales down in the mid teens percent
For Safety & Protection, DuPont sees Q1 sales to decline in the mid teens percent vs. prior year, with operating earnings down high teens percent, reflecting cost reductions and continued productivity more than offset by the impact of lower sales and currency. Sees full year segment sales down by the low single digits percent, with volume growth offset by currency, and operating earnings up mid teens percent.
08:22 EDTDDDuPont sees Q1 Electronics & Communications sales down mid-teens percent
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08:20 EDTDDDuPont sees Q1 Nutrition & Health sales down low-single digits
For Nutrition & Health segment, DuPont sees Q1 sales down low-single digits percent as volume growth is more than offset by the negative impact of currency. Sees Q1 operating earnings for the segment up low-single digits percent, as cost reductions and continued productivity more than offset the impact of currency. Sees Nutrition & Health segment full year sales down low-single digits percent, as volume growth is more than offset by the negative impact of currency. Sees full year operating earnings for the segment up high-teens percent, as cost reductions and continued productivity more than offset the impact of currency.
08:17 EDTDDDuPont sees Industrial Biosciences sales growth in low single digits in Q1
For Industrial Biosciences, DuPont sees modest volume growth in bioactives to be offset by unfavorable currency, resulting in sales growth in the low single digits percent vs. last year. Sees Q1 Industrial Biosciences operating earnings down by the mid single digit percent as cost reductions and continued productivity are expected to be more than offset by higher input costs and currency. For the full year in Industrial Biosciences, DuPont sees sales up low single digits on stronger volume and price, partly offset by currency. Sees segment operating earnings flat, with cost reductions offset by higher product costs and currency.
07:48 EDTDDDuPont repeats call for Dow Chemical merger to close in second half of 2016
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07:36 EDTADSKKKR leads funding round in Jitterbit
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07:22 EDTDDDuPont sees $1.3B cash used for normal dividends, $2B for repurchases in 2016
Among its expected uses of cash for 2016, DuPont lists $1.3B for normal dividends, $2B for its share repurchase program, to be use during 2nd half 2016 open trading windows, and capex spend estimated to be $1.1B. In 2016, DuPont assumes global GDP growth of 2%, industrial production growth of 2% and for the U.S. dollar to be stronger against most currencies. Guidance from slides for Q4 earnings call presentation.
07:02 EDTADSKInternational Exposition Company to hold an expo
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06:22 EDTDDDuPont sees FY16 operating EPS $2.95-$3.10, consensus $3.15
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06:22 EDTDDDuPont says actions for 2016 cost savings plan underway
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06:21 EDTDDDuPont says cost reductions from operational redesign contributed 10c to Q4
Cost reductions from operational redesign contributed an incremental $0.10 per share to fourth-quarter operating earnings.
06:20 EDTDDDuPont reports Q4 operating EPS 27c, consensus 26c
Reports Q4 revenue $5.3B, consensus $5.39B.
January 25, 2016
14:29 EDTDDNotable companies reporting before tomorrow's open
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06:30 EDTFFord to shutter operations in Japan, Indonesia, Reuters reports
Ford will shutter operations in Japan and Indonesia this year since it sees "no reasonable path to profitability" in the two nations, Reuters reports. The car maker will exit all areas of its business, including dealerships and imports of Ford and Lincoln vehicles, in the two countries, the report says, citing an email from Asia Pacific President Dave Schoch to all employees in the region. Reference Link
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