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Stock Market & Financial Investment News

News Breaks
July 24, 2014
17:05 EDTDHI, TRLA, GM, LTM, Z, FB, ANGI, SODAOn The Fly: Closing Wrap
Stocks on Wall Street began the session slightly higher but were unable to gather any upside momentum during the day. The market barely reacted to the much better than expected weekly jobless claims data, as the Labor Department explained that this time of the year is typically volatile for the data. The new home sales report for June had the opposite effect, as sales were worse than expected and the previous month was also revised down. The number put a lid on the averages, which moved throughout the afternoon as if summer doldrums had set in. 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 (FB) achieved a new all-time high during the session and closed up $3.69, or 5.18%, to $74.98 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 (GM) declined $1.67, or 4.46%, to $35.74 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." MAJOR MOVERS: Among the notable gainers was Trulia (TRLA), which surged $13.16, or 32.43%, to $53.74 after Bloomberg said the company is in talks to be acquired by rival real estate website operator Zillow (Z). Zillow shares also gained $19.29, or 15.25%, to $145.76 after the news service said it could tie-up with its peer in a deal that could value Trulia as much as $2B. Also higher was SodaStream (SODA), which jumped $2.73, or 9.45%, to $31.63 after Bloomberg said the home soda machine maker is holding talks with an investment firm about taking itself private at a valuation of about $828M, or $40 per share. However, an analyst at Stifel called that scenario "highly improbable to impossible." Among the noteworthy losers was Angie's List (ANGI), which plunged $1.96, or 19.27%, to $8.21 after reporting second quarter results that were worse than expected, prompting at least seven downgrades of its stock by Wall Street analysts. Also lower were Life Time Fitness (LTM), which lowered its FY14 earnings view and fell $6.00, or 12.7%, to $41.26 and D.R. Horton (DHI), which dropped $2.86, or 11.53%, to $21.94 after its quarterly profits missed expectations. INDEXES: The Dow slipped 2.83, or 0.02%, to 17,083.80, the Nasdaq dropped 1.59, or 0.04%, to 4,472.11, and the S&P 500 gained 0.97, or 0.05%, to 1,987.98.
News For FB;GM;SODA;Z;TRLA;ANGI;LTM;DHI From The Last 14 Days
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May 12, 2015
16:50 EDTZZillow Group to resume trading at 5:00 pm ET
Quotes resume at 4:55 pm ET.
16:46 EDTZZillow Group reports Q1 EPS 5c, consensus (12c)
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16:41 EDTZZillow Group to delay filing Form 10-Q
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16:35 EDTZZillow Group backs FY15 pro forma revenue view $690M, consensus $669.84M
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16:01 EDTFBOptions Update; May 12, 2015
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15:00 EDTZNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include McKesson (MCK), consensus $2.75... Zillow (Z), consensus (12c)... GoDaddy (GDDY), consensus 35c... RSP Permian (RSPP), consensus 17c... Parsley Energy (PE), consensus 0c... Vivint Solar (VSLR), consensus (38c)... New Relic (NEWR), consensus (25c)... Hortonworks (HDP), consensus (86c)... SunOpta (STKL), consensus 7c... OPOWER (OPWR), consensus (16c)... JP Energy Partners (JPEP), consensus (4c)... TubeMogul (TUBE), consensus (18c)... Ducommun (DCO), consensus 30c.
14:19 EDTZZillow Group May 93 straddle priced for 8% movement into Q1
08:07 EDTZSunTrust to hold a conference
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08:05 EDTZZillow Group signs 105 new multiple listing services in the past six weeks
Zillow Group announced that Zillow and Trulia have signed 105 new agreements with multiple listing services in the past six weeks. In total, Zillow Group has signed 235 new agreements with MLSs since January 2015.
07:00 EDTFBPublishers contend with Facebook clout as traffic-driving power grows, WSJ says
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May 11, 2015
19:05 EDTFBFacebook tests in-house search engine, WSJ says
Facebook (FB) is testing a feature within its app that allows users to search for previously-shared links, reports the Wall Street Journal's Digits blog, citing spokesperson statements. "We’re piloting a new way to add a link that’s been shared on Facebook," said a company spokesperson. The Journal notes that the feature could give Facebook an information edge over search engine leader Google (GOOG). Reference Link
16:00 EDTFBOptions Update; May 11, 2015
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10:44 EDTGMGM ignition fund approves claims for 100 deaths, Detroit News says
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10:30 EDTZWellington reports 10.86% passive stake in Zillow Group
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10:30 EDTFBFacebook management to meet with Pacific Crest
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10:19 EDTANGIAngie's List management to meet with Piper Jaffray
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09:59 EDTZOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Alcatel-Lucent (ALU) upgraded to Outperform from Neutral at Exane BNP Paribas... Caterpillar (CAT) upgraded to Outperform at Baird... Cisco (CSCO) upgraded to Outperform with $36 target at Pacific Crest... Evolution Petroleum (EPM) upgraded to Outperform from Market Perform at Northland... Hecla Mining (HL) upgraded on hedging discipline at Roth Capital... Joy Global (JOY) upgraded to Outperform from Neutral at Baird... Monster Beverage (MNST) upgraded to Buy from Neutral at Citigroup... Nokia (NOK) upgraded to Outperform from Neutral at Exane BNP Paribas... On Deck Capital (ONDK) upgraded to Neutral from Sell at Sterne Agee CRT... Royal Caribbean (RCL) upgraded to Outperform from Neutral at Wedbush... SMC (SMECF) upgraded to Buy from Neutral at Goldman... Sally Beauty (SBH) upgraded to Outperform from Market Perform at Raymond James... Southwestern Energy (SWN) upgraded to Overweight from Equal Weight at Barclays... Sprouts Farmers Markets (SFM) upgraded to Outperform at BMO Capital... Suburban Propane (SPH) upgraded on positive outlook at Stifel... Suffolk Bancorp (SUBK) upgraded to Outperform from Market Perform at Keefe Bruyette... Syngenta (SYT) upgraded to Buy from Neutral at UBS... Triumph Group (TGI) upgraded to Outperform from Sector Perform at RBC Capital... United Natural Foods (UNFI) upgraded to Overweight from Equal Weight at Stephens... Web.com (WWWW) upgraded to Buy from Hold at Deutsche Bank... Zillow Group (Z) upgraded to Buy from Neutral at SunTrust.
09:37 EDTFBActive equity options trading on open
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07:41 EDTZZillow May volatility elevated at 72 into Q1 and outlook
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07:26 EDTZZillow Group upgraded to Buy from Neutral at SunTrust
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