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Stock Market & Financial Investment News

News Breaks
July 24, 2014
12:32 EDTDHI, CAT, F, QCOM, DPS, ANGI, GM, TRIP, UA, SODA, FBOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday amid another wave of earnings reports, headlined by Facebook (FB), Caterpillar (CAT), General Motors (GM) and Ford (F). The market has moved in a narrow range as investors try to digest the bevy of earnings reports that were released last night and this morning. The market has also had to battle a negative economic report on new home sales, which not only disappointed in June but saw the prior month revised lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 19K to 284K in the week ended July 19. While the BLS said there were no special factors in the claims data, they also reminded that the numbers can be very volatile at this time of year due in part to auto shutdowns. Markit's flash U.S. PMI for July dipped 1 point to 56.3 from 57.3 in June. June new home sales fell 8.1% to a 406K rate, which was worse than expected, and May's data was downwardly revised. In China, HSBC's flash manufacturing Purchasing Managers' Index rose to 52 in July from 50.7 a month earlier. COMPANY NEWS: Facebook achieved a new all-time high and its share price eclipsed $76, a level that was more than double the price of its initial public offering, after its revenue and profits beat expectations. After the report a number of Wall Street analysts hiked their price targets on the stock, with Jefferies and Topeka both raising their targets on the social network operator's stock to $100... Shares of General Motors declined more than 3% after its earnings per share, excluding special items, missed consensus expectations and its revenue also fell short of the analysts' forecast. The company took a $400M special charge related to its ignition switch compensation program, but cautioned that there is no cap on this program and it is possible the total cost could increase by another $200M. Also, GM recorded a non-cash pre-tax special charge of about $900M in the second quarter for the estimated costs of future possible recalls for "up to the next 10 years on 30M GM vehicles on the road today." In contrast, Ford reported earnings per share, excluding special items, and revenue that beat expectations and its stock rose 1%... Caterpillar dropped over 3% after its quarterly revenue missed expectations and it narrowed its outlook for full-year revenue. However, the heavy machine maker's earnings did beat the consensus forecast and it raised it fiscal year profit outlook. MAJOR MOVERS: Among the notable gainers was Sodastream (SODA), which jumped nearly 20% after Bloomberg said the home beverage system maker is in talks with an investment firm on deal that would make it a private company and value it at about $828M, or $40 per share. Also higher following their earnings reports were Under Armour (UA), which rose 15%, and Dr. Pepper Snapple (DPS), which gained 5%. Among the noteworthy losers following their earnings reports were homebuilder DR Horton (DHI), which fell 10%, online travel company TripAdvisor (TRIP), which dropped 9%, and semiconductor chip maker Qualcomm (QCOM), which slid 6%. Also lower was review service operator Angie's List (ANGI), which plunged 19% after reporting second quarter losses per share and revenue that were worse than expected, prompting a number of downgrades of its stock by Wall Street analysts. INDEXES: Near midday, the Dow was up 8.25, or 0.05%, to 17,094.88, the Nasdaq was up 6.10, or 0.14%, to 4,479.80, and the S&P 500 was up 2.98, or 0.15%, to 1,989.99.
News For FB;GM;F;SODA;ANGI;CAT;UA;DPS;DHI;TRIP;QCOM From The Last 14 Days
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November 13, 2014
07:38 EDTUA, FBBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
07:18 EDTDHIUBS to hold a conference
Building & Building Products Annual CEO Conference is being held in New York on November 13 with webcasted company presentations to begin at 9:30 am; not all company presentations may be webcasted. Webcast Link
06:24 EDTGMHeidrick & Struggles picked by GM to find new general counsel, WSJ reports
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November 12, 2014
12:55 EDTQCOMNVIDIA says Samsung files counter-suit, patent infringement claims
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10:00 EDTDHIOn The Fly: Analyst Downgrade Summary
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09:54 EDTCATCaterpillar reaffirms 2014 EPS outlook about $6.50, consensus $6.56
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09:33 EDTDHID.R. Horton downgraded to Hold from Buy at Zelman
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09:02 EDTDHID.R. Horton downgraded at Sterne Agee
As previously reported, Sterne Agee downgraded D.R. Horton to Neutral from Buy. The firm downgraded shares following the Q3 report and guidance to reflect slower year-over-year growth. Price target lowered to $23 from $25.
08:42 EDTGMGeneral Motors' Ammann leading push for change, WSJ says
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07:37 EDTDHID.R. Horton price target raised to $26 from $22 at RBC Capital
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07:22 EDTFFord offers favorable risk/reward, says UBS
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06:59 EDTDHID.R. Horton downgraded to Neutral from Buy at Sterne Agee
November 11, 2014
17:17 EDTGMGM scales back workers, production at small car plant, WSJ says
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16:01 EDTFBOptions Update; November 11, 2014
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15:26 EDTFBYelp continues to gain traction in Local search, says Cowen
Cowen's checks indicate Yelp (YELP) continues to gain traction in Local search through Google (GOOGL) and Facebook (FB). The firm continues to see Yelp's Local ad revenue growing 60% in 2014 and believes the company will continue to beat numbers.
10:45 EDTDHID.R. Horton CEO says should have 'great three to five year run'
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10:41 EDTDHID.R. Horton expects to close between 34,500-37,500 homes in 2015
10:33 EDTDHID.R. Horton sees average gross margin down in 2015
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07:15 EDTFFord begins production of 2015 F-150 at Ford Rouge Center
The 2015 Ford F-150 starts production at Ford Rouge Center. The facilities have been transformed with the latest in manufacturing technology to build the first mass-produced truck in its class featuring a high-strength, military-grade, aluminum-alloy body and bed. The new F-150 goes on sale in December in the U.S. and will be available in 90 markets in 2015.
07:02 EDTDHID.R. Horton reports Q4 EPS 45c, consensus 48c
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