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Stock Market & Financial Investment News

News Breaks
July 24, 2014
12:32 EDTF, QCOM, DPS, ANGI, GM, TRIP, UA, SODA, FB, DHI, CATOn 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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March 17, 2015
07:42 EDTFBBoeing may produce satellite for tech giants, Reuters says
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07:20 EDTANGIBofA/Merrill to hold a conference
Smid Cap Conference 2015 is being held in Boston on March 17-18.
06:23 EDTGMGM employees to be deposed for class action case, NY Times says
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March 16, 2015
16:14 EDTFBFacebook initiated with a Buy at Brean Capital
Brean Murray initiated Facebook with a Buy rating and $96 price target based on expectations of continued growth through pricing leverage, continued expansion, and monetization of acquired platforms including Instagram and WhatsApp.
16:00 EDTFBOptions Update; March 16, 2015
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11:06 EDTGMGM ignition switch death claims rises to 67, WSJ says
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09:37 EDTTRIP, FBActive equity options trading on open
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09:26 EDTFBFacebook to update rules on prohibited content, NY Times says
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08:55 EDTFBFacebook purchase of Instagram proving to be a steal, says BofA/Merrill
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06:11 EDTFBFacebook implied volatility of 25 at lower end of index mean range
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06:09 EDTQCOMStocks with implied volatility below IV index mean; CSCO QCOM
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March 13, 2015
16:42 EDTGMStocks end week lower amid euro slide, Fed rate hike worries
Stocks finished the week lower as worries about the impact of the euro's fall against the dollar, along with continued anticipation of an upcoming rate hike by the Fed and concerns about deflation, weighed on shares. MACRO NEWS: The euro's slide against the dollar continued, causing investors to worry that the trend could have a significant negative impact on the results of U.S. based, multinational companies... Anticipation of an impending interest rate hike continued to impact the market. On Tuesday, outgoing Dallas Fed President Richard Fisher said the central bank should begin to gradually raise rates before the economy reaches full employment to avoid triggering a recession. On Thursday, stocks rose as investors speculated that weak February retail sales data could cause the central bank to delay raising interest rates... An unexpected decline in the producer price index, which was reported on Friday, may have rekindled fears about deflation taking hold in the U.S., weighing on stocks... In China, the government said that industrial production rose less than expected in the first two months of the year. China's exports were reported to surge 15% in the first two months of the year versus the same period a year earlier, but data also indicated that China's imports sank 20% in the first two months of 2015. COMPANY NEWS: Apple (AAPL) provided additional information about its upcoming Apple Watch at a product launch event. Apple Watch will be available on Friday, April 24 to customers in nine countries, including the U.S., with pre-orders beginning April 10. The lowest priced Apple Watch, the 38 mm Apple Watch Sport, will be priced at $349, while the 18-karat gold Apple Watch Edition will be priced starting at $10,000... Embattled floor retailer Lumber Liquidators (LL) updated investors on the impact of a recent critical report from 60 Minutes. In the nine days following the report, same-store sales fell 12.7% versus the same period a year earlier, it reported. The company added that it was not able to provide full-year guidance until it has more time to gauge the impact of consumers' reaction to the report... GM (GM) settled a potential proxy battle with an investment group led by Harry Wilson by agreeing to return more cash to shareholders... Alcoa (AA) agreed to buy RTI International Metals (RTI), which supplies specialty metals and services for several sectors, including aerospace and defense... Credit Suisse (CS) appointed Tidjane Thiam, who is currently Group Chief Executive of Prudential (PUK), as its new CEO... The shares of several chicken producers fell after a possible case of bird flu was identified in Arkansas. Among the chicken producers that declined were Tyson (TSN), which is based in Arkansas, Pilgrim's Pride (PPC), Sanderson Farms (SAFM), and Hormel (HRL)... GNC Holdings (GNC) sank after New York's Attorney General announced that he and three of his colleagues would further investigate the business practices of the herbal supplement industry. INDEXES: For the week, the Dow was down 0.57% to 17,749.31, the Nasdaq fell 1.12% to 4,871.76, and the S&P 500 dropped 0.87% to 2,053.40.
16:24 EDTFBFacebook acquires TheFind
According to TheFind's website: "We are now starting our next chapter by combining forces with Facebook to do even more for consumers. Facebook's resources and platform give us the opportunity to scale our expertise in product sourcing to the over 1B people that use the platform. Key members of our team are joining the company and will be working hard to integrate our technology to make the ads you see on Facebook every day better and more relevant to you. Unfortunately, this means we will be taking our search engine offline in the next few weeks." Reference Link
16:01 EDTFBOptions Update; March 13, 2015
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11:17 EDTGMGeneral Motors settles suit over death that triggered recalls, Bloomberg says
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11:17 EDTFBStocks with call strike movement; TSLA FB
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10:34 EDTFBApple joins data center group with Facebook, Microsoft, The Information says
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09:50 EDTFBActive equity options trading on open
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06:05 EDTFBFacebook implied volatility of 25 at lower end of index mean range
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05:27 EDTFFord starts production of 2015 F-150 at Kansas City Assembly Plant
Ford marks the official start of production of the all-new 2015 F-150 at Kansas City Assembly Plant, which joins Dearborn Truck Plant in building the F-150. This means Ford has expanded production of the first mass-produced light-duty pickup truck with a high-strength, military-grade, aluminum-alloy body. In addition to producing all F-150 models and cab configurations, production at Kansas City Assembly Plant now includes F-150s with an 8-foot cargo box and heavy payload package to meet the needs of commercial fleet customers. The all-new F-150 is off to a strong start. In January, F-Series had its strongest sales month since 2004 Ė Fordís best sales year ever for F-150. Retail sales increased 7 percent in February. These numbers make F-Series one of Fordís fastest-selling vehicles, at just 18 days to turn on dealer lots Ė well below the light-duty full-size pickup truck average of 105 days. Combined, Kansas City Assembly and Dearborn Truck facilities will have capacity to produce more than 700,000 Ford F-150 pickups per year for availability in 90 markets globally.
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