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Stock Market & Financial Investment News

News Breaks
July 24, 2014
17:05 EDTFB, GM, SODA, Z, TRLA, ANGI, LTM, DHIOn 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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October 22, 2014
07:02 EDTANGIAngie's List reports Q3 EPS (9c), consensus (6c)
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06:24 EDTGMNHTSA says over 6M cars involved in Takata airbag recalls
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October 21, 2014
16:00 EDTFBOptions Update; October 21, 2014
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12:08 EDTGMGeneral Motors says supports Michigan House Bill 5606
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10:50 EDTSODASodaStream long idea reiterated by Tilson at Robin Hood, Bloomberg reports
10:13 EDTGMGeneral Motors volatility elevated into Q3 and outlook
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10:00 EDTGMOn The Fly: Analyst Initiation Summary
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06:26 EDTGMGeneral Motors initiated with a Neutral at Susquehanna
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06:09 EDTFBTwitter initiated with a Neutral at Citigroup
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06:04 EDTFBFacebook sues laywers who represented Ceglia, Re/code reports
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October 20, 2014
12:03 EDTFBKing Digital launches Candy Crush Soda Saga worldwide on Facebook
Earlier today, King Digital Entertainment (KING) announced that Candy Crush Soda Saga, the sister title to hit game Candy Crush Saga, has launched worldwide on Facebook (FB). Candy Crush Soda Saga is the next iteration in the Candy Crush franchise, set in the world of the Candy Kingdom. Fans of the original hit can now switch and match their way through new dimensions of gameplay with exciting new graphics and features including game modes, candy combinations, gameplay mechanics and more. Candy Crush Soda Saga is set to launch on mobile in the coming weeks.
11:53 EDTGMDeaths tied to faulty GM ignition-switch increases to 29, Reuters says
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11:42 EDTFBStocks with call strike movement; FB DAL
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08:22 EDTGMCourt rules GM loan docs valid despite mistake, Reuters reports
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07:50 EDTDHID.R. Horton initiated with a Neutral at Buckingham
Target $23.
07:24 EDTZZillow November weekly volatility elevated into Q3 and outlook
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07:16 EDTANGIAmerican Academy of Ophthalmology to hold annual meeting
AAO Annual Meeting 2014 is being held in Chicago on October 18-21.
October 17, 2014
18:10 EDTGMGeneral Motors General Counsel Michael Millikin to retire in early 2015
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16:31 EDTGMGeneral Motors announces $12.5B revolving credit facility
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16:01 EDTFBOptions Update; October 17, 2014
iPath S&P 500 VIX Short-Term Futures down 1.75 to 38.58 Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX GILD CLF PBR according to Track Data.
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