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Stock Market & Financial Investment News

News Breaks
July 24, 2014
12:32 EDTFB, TRIP, DHI, DPS, UA, CAT, ANGI, SODA, F, GM, QCOMOn 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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September 19, 2014
11:24 EDTFBTD Ameritrade:Alibaba premarket orders approaching Facebook levels, Reuters says
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11:11 EDTCATCaterpillar sales trends for August mixed, says Wells Fargo
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09:19 EDTQCOMOn The Fly: Pre-market Movers
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09:13 EDTCATCaterpillar reports Machines sales down 10% in three months end August
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08:18 EDTFFord upcoming analyst day first in three years, says UBS
UBS previewed Ford ahead of its first analyst meeting in three years. The firm said they expect the company to give end of decade guidance, to update on global markets, to raise its global margins target, and to reiterate its capital deployment strategy. UBS has a Buy rating and $22 price target on Ford.
08:11 EDTQCOMTriQuint chip among those in iPhone 6 Plus, iFixit reports
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08:03 EDTQCOMInvenSense, NXP, RF Micro chips included in iPhone 6, iFixit reports
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07:09 EDTGMGeneral Motors to launch new Cadillac sedan next year, AP reports
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06:31 EDTFFord reduces Cologne manufacturing as EU demand calms, Reuters says
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September 18, 2014
15:52 EDTANGIAngie's List upside potential outweighs downside risk, says Barrington
After meetings with management, Barrington said Angie's List is taking the right steps in improving its website and mobile apps. The firm believes there is "much more" upside potential than downside risk in the stock and maintains its Outperform rating and $15 price target on the shares.
13:54 EDTFBAd dollars on Facebook outpacing amount of time people spend on site, WSJ says
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13:27 EDTFBFacebook updates story ranking criteria
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12:07 EDTFBStocks with call strike movement; JCP FB
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10:02 EDTGMGeneral Motors to recall 3,200 natural gas-fueled vans, WSJ reports
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09:22 EDTUABack to school season healthy for footwear, says Sterne Agee
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08:59 EDTSODAOn The Fly: Pre-market Movers
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07:34 EDTSODASodaStream rumored as target for SABMiller, Diageo, Independent says
Rumors haver circulated among U.K. traders that soda machine maker SodaStream (SODA) could be targeted for a takeover by beverage makers SABMiller (SBMRY) and Diageo (DEO) or private equity group KKR (KKR), according to The Independent. Reference Link
07:32 EDTANGIMKM Partners to hold a conference
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07:26 EDTQCOMGartner: Smartwatch market ready to expand, poised for takeoff, DigiTimes says
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07:06 EDTFBFacebook volatility low into Alibaba IPO
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