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Stock Market & Financial Investment News

News Breaks
February 3, 2014
12:16 EDTF, FIATY, SNN, ARTC, MW, LVLT, AAPL, AKAM, RSH, JOSB, GM, BEATOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday in the first trading day of February, which is opening with a downbeat session reminiscent of many seen last month. Reports showed that manufacturing activity slumped in January in both the U.S. and in China. Adding to the negative sentiment were reports from auto makers showing that sales dropped for most of them amid January's frigid weather. ECONOMIC EVENTS: In the U.S., ISM's manufacturing Purchasing Managers' Index, or PMI, for January plunged to 51.3. The decline was significantly worse than forecast by economists. A separate manufacturing PMI for January from Markit was unchanged from the preliminary 53.7 reading, though that was down 1.3 points from December's 55.0 figure. Construction spending inched up 0.1% in December, versus expectations for it to have remained flat. In China, data released over the weekend showed factory growth slumped to a six-month low in January, with the nation's official manufacturing PMI falling to 50.5 in January from 51 last month. China's official non-manufacturing PMI fell to 53.4 in January from 54.6 in December. The lone bright spot among the global manufacturing data releases came from Europe, where Markit's eurozone manufacturing sector PMI rose to a 32-month high of 54 points in January from 52.7 in December. COMPANY NEWS: Ford (F) shares fell 3% after the company's U.S. sales declined 7% from a year ago to 154,644 vehicles in January. General Motors (GM) reported an even worse decline of nearly 12% in the month to 171,486 vehicles sold and its shares also slid 2%. Fiat-owned (FIATY) Chrysler was the only one of the "Big Three" to report a sales increase in the month, stating "the bad weather only seemed to affect our competitors' stores as we had a great January with sales up 8%." U.S. industry vehicle sales, which previously came in at a 15.6M unit pace in December and were expected to rise to a 15.7M unit rate, were estimated by GM to actually have declined to a 15.3M unit pace in the month. MAJOR MOVERS: Shares of RadioShack (RSH) appeared to benefit from a positive reaction to the company's Super Bowl advertising, with the stock rising more than 9% near noon following last night's game. Another notable gainers was ArthroCare (ARTC), which rose 7% after the U.K.'s Smith & Nephew (SNN) agreed to buy the U.S. medical device maker in a $1.37B deal. Also higher was BioTelemetry (BEAT), which surged 22% after the company announced it achieved a victory in its patent infringement case against Mednet, which it subsequently agreed to acquire in an accretive transaction. Among the noteworthy losers was JoS. A. Bank (JOSB), which fell over 3% after The Wall Street Journal reported the company is in talks to buy sportswear retailer Eddie Bauer, which could complicate the ongoing takeover battle Jos. A. Bank has been having with Men's Wearhouse (MW). Also, Jos. A. Bank made public a letter it sent to Men's Wearhouse, saying the most recent buyout offer its peer made is inadequate. Also lower were shares of Akamai (AKAM), which fell 4% after a blog report claimed Apple (AAPL) has recently hired a number of employees as part of a new group assigned to build out a new content delivery network, or CDN. Apple has historically relied on CDN providers Akamai and Level 3 (LVLT), the Streaming Media report noted. INDEXES: Near midday, the Dow was down 232.90, or 1.48%, to 15,465.95, the Nasdaq was down 74.29, or 1.81%, to 4,029.59, and the S&P 500 was down 28.08, or 1.58%, to 1,754.51.
News For F;GM;JOSB;RSH;AKAM;AAPL;LVLT;MW;ARTC;SNN;FIATY;BEAT From The Last 14 Days
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October 14, 2014
07:24 EDTFFord upgraded to Neutral from Underperform at Buckingham
06:37 EDTAAPLUMC lands 28nm LTE chip orders from Qualcomm, DigiTimes reports
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06:36 EDTAAPL'Double Irish' tax arrangement poised to halt, itnews says
Ireland is positioned to enact legal revisions soon that will slowly cease its "Double Irish" tax agreement, which has allowed companies like Google (GOOG) and Apple (AAPL) to not spend billions of dollars worth of taxes, according to itnews, citing, two sources familiar with the situation. Reference Link
06:30 EDTAAPLApple expected to show new iPads at Thursday's event, Re/code says
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06:30 EDTAAPLSolvay, Apple allegedly enter supply agreement, Bloomberg says
Solvay (SVYZY) and Apple (AAPL) have supposedly entered a supply agreement in which the Belgium chemical company will supply a type of high-performance plastic for iPhone 6 devices, according to Bloomberg, citing two people with knowledge of the situation. Reference Link
06:20 EDTGMGeneral Motors downgraded to Buy from Conviction Buy at Goldman
Goldman removed General Motors from the Conviction Buy List and lowered estimates to to cuts in North American and European production and a difficult pricing environment. The firm maintains its Buy rating and views risk/reward as favorable and expects reasonably strong comps over then next two quarters. Price target lowered to $47 from $48.
06:15 EDTFFord downgraded to Neutral from Buy at Goldman
Goldman downgraded Ford to Neutral citing lack of near-term catalysts and less balance sheet optionality. Price target lowered to $17 from $21.
October 13, 2014
16:02 EDTAAPLOptions Update; October 13, 2014
iPath S&P 500 VIX Short-Term Futures up 3.71 to 39.56. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX SUNE GILD BAC PBR according to Track Data.
12:10 EDTGMGM lawyer says 27 people eligible for ignition switch compensation, AP reports
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11:00 EDTFFord adding 850 more jobs at Ford Rouge Center to build new F-150
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10:23 EDTFFord to hire 850 workers for Dearborn Rouge factories, WSJ says
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09:39 EDTAAPLActive equity options trading on open
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09:23 EDTAKAMHP could buy lower valuation company, says Bernstein
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08:31 EDTAAPLApple says iPhone 6, 6 Plus to arrive in 36 more countries this month
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07:15 EDTAKAMNational Association of Corporate Directors to hold a conference
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07:02 EDTFFord and Carfax expand partnership
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06:44 EDTF, GM, FIATYRegulators seeking banks' auto loan data, Reuters reports
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06:41 EDTAAPLWalgreens to roll out Apple Pay on October 18, MacRumors reports
Walgreens (WAG) will begin rolling out Apple Pay (AAPL) on Saturday, October 18, according to a memo obtained by MacRumors. Reference Link
06:05 EDTAAPLReport: Apple iPhone 6 pre-orders in China reach 20M, Digitimes says
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October 12, 2014
17:21 EDTGMTesla ahead of other car makers on semiautonomous driving system, WSJ says
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