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Stock Market & Financial Investment News

News Breaks
March 22, 2012
16:23 EDTX, RGR, SONC, SCVL, GOLD, PCLN, GME, FDX, SWHC, MCD, DGOn The Fly: Closing Wrap
Stocks on Wall Street were lower, as reports of contraction in manufacturing in both China and the euro zone fueled worries about global growth prospects. Stock futures indicated a lower open and the market reacted as expected after the opening bell. The averages opened in negative territory and were never able to put together any semblance of a rally. The move lower was broad based as evidenced by the market internals, which saw declining stocks heavily outpace advancers. The market generally ignored the day’s domestic economic data, including a drop in weekly jobless claims and a better than expected report on the leading economic indicators. The market has now lost ground for the third consecutive day after recently hitting fresh recovery highs... ECONOMIC EVENTS: In the U.S., initial jobless claims fell 5K to 348K, versus the expected 350K. The leading economic indicators for February increased 0.7%, versus expectations of an increase of 0.6%. Home prices held flat on a seasonally-adjusted basis in January, versus expectations for an increase of 0.3%. In China, a "flash" purchasing managers index fell to 48.1 from 49.6 the month prior. In Europe, a composite euro zone PMI reading also fell, hitting 48.7... MARKET NEWS: FedEx (FDX) topped the list of companies reporting results this morning and saw its shares fall $3.32, or 3.46%, to $92.50 after its earnings beat expectations but its revenues and guidance disappointed. Among others reporting earnings, advancers included Shoe Carnival (SCVL) and Dollar General (DG); decliners included GameStop (GME) and Sonic (SONC)... McDonald's (MCD) CEO Jim Skinner announced his retirement, to be replaced by the company's current President and COO Donald Thompson... Priceline.com (PCLN) shares moved higher, up $8.34, or 1.19%, to $711.99, after Piper Jaffray said in a note to investors this morning that the company's shares could hit $1,000 by mid-2014 and that $50.00 of non-GAAP earnings per share in 2015 is realistic... MAJOR MOVERS: Among the notable gainers were Sturm Ruger (RGR), up $5.63, or 13.31%, to $47.93, after saying its had to temporarily stop accepting new orders after its Q1 bookings topped 1M units, and Smith & Wesson (SWHC), up 78c, or 11.30%, to $7.68, as it also appeared to benefit from Sturm Ruger's news. Noteworthy losers included Randgold Resources (GOLD), down $12.80, or 12.38%, to $90.60, after reports of a coup attempt in Mali, and US Steel (X), down $1.82, or 5.82%, to $29.47, as one of the many materials names that moved lower on the signs of weakness in China... INDICES: The Dow fell 78.48, or 0.60%, to 13,046.14; the Nasdaq lost 12.00, or 0.39%, to 3,063.32; and the S&P 500 dropped 10.11, or 0.72%, to 1,392.78.
News For FDX;SCVL;DG;GME;SONC;MCD;PCLN;RGR;SWHC;GOLD;X From The Last 14 Days
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April 16, 2015
10:00 EDTMCD, SONCOn The Fly: Analyst Initiation Summary
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10:00 EDTGOLDRandgold upgraded to Buy from Neutral at UBS (pre-open)
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09:36 EDTMCDActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX NEE AMT WFM C PM INTC AA MCD
07:21 EDTGMEGameStop estimates raised on stronger industry software sales at SunTrust
SunTrust says that video game software sales have finally turned positive, and the firm expects industry software sales to increase 3%-5% this year, given the momentum of the new hardware cycle and a better title lineup versus last year. SunTrust keeps a Buy rating on GameStop.
April 15, 2015
17:26 EDTSONCSonic initiated with a Buy at Guggenheim
Target $37.
17:25 EDTMCDMcDonald's initiated with a Buy at Guggenheim
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15:25 EDTXU.S. Steel makes management changes at European and North American operations
U.S. Steel announced two management changes at its European and North American operating facilities. Scott Buckiso has been named vice president – European Solutions and president – U. S. Steel Kosice, succeeding George Babcoke, who has elected to retire following 39 years of service with the company. Amy Smith-Yoder will succeed Buckiso as general manager – Mon Valley Works. The changes are effective May 31. In his new role, Buckiso will assume executive responsibility for the company's operations in the Slovak Republic.
12:30 EDTSWHCOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session in positive territory for the fifth time in the past six sessions. The move came amid lower than expected manufacturing data and industrial production figures in the U.S. and a report on Chinese GDP growth that matched expectations. Although the averages remain higher near midday, the market is well off its highs as investors await the release of the Fed’s Beige Book report. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing report had a reading of -1.19, versus expectations for a 7.17 reading. Industrial production fell 0.6% in March, versus expectations for a 0.3% decline. Capacity utilization came in at 78.4% during the month, versus the 78.6% that was forecast. NAHB's homebuilder confidence index climbed to 56 in April, versus expectations for a reading of 55. The Federal Reserve is scheduled to release its Beige Book at 2 pm EDT this afternoon. In China, the nation's GDP grew at a 7.0% rate in Q1, which met expectations but was the lowest level of quarterly growth since 2009. A number of March data releases came in below expectations in China, including reports on industrial production, retail sales and fixed investments. In Europe, the European Central Bank kept interest rates unchanged. COMPANY NEWS: The European Commission announced it has opened a formal investigation of whether Google’s (GOOG, GOOGL) conduct in relation to its Android mobile operating system as well as applications and services for smartphones and tablets has breached EU antitrust rules. The Commission also sent a Statement of objections to Google alleging the company has abused its dominant position in the markets for general internet search services in the European Economic Area by favoring its own comparison shopping product in its general search results pages. For its part, Google's SVP of Google Search Amit Singhal said the company "respectfully but strongly" disagrees with the need to issue a statement of objections and looks forward to making its case... After Intel (INTC) reported results that were in-line with its preannouncement and estimated that its 2015 revenue would be roughly flat year-over-year, shares rose 4.5%. However, analysts disagreed on the company's ability to meet its revised outlook, with Wedbush upgrading the stock to Outperform from Neutral, but Citi saying that the company's guidance was too bullish and keeping a Neutral rating on the shares. MAJOR MOVERS: Among the notable gainers was Celsion (CLSN), which gained 20% after the company announced interim data from its ongoing open-label Phase 2 DIGNITY Trial of ThermoDox in recurrent chest wall breast cancer. Also higher was gunmaker Smith & Wesson (SWHC), which gained 13% after raising its guidance, citing orders throughout its fiscal fourth quarter that have been stronger than originally anticipated. Among the noteworthy losers was Alcatel-Lucent (ALU), which dropped 19% after agreeing to merge with Nokia (NOK) in an all-share transaction that values Alcatel-Lucent at EUR 15.6B on a fully diluted basis. Also lower were shares of Precision Castparts (PCP), which fell 3% after the company issued fourth quarter guidance, said it was making headcount reductions and the stock was downgraded at DA Davidson. INDEXES: Near midday, the Dow was up 56.39, or 0.31%, to 18,093.09, the Nasdaq was up 24.52, or 0.49%, to 5,001.81, and the S&P 500 was up 9.80, or 0.47%, to 2,105.64.
11:30 EDTSONCSonic management to meet with William Blair
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10:46 EDTXBofA/Merrill metals/mining/steel analysts hold analyst/industry conference call
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10:36 EDTXBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
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10:00 EDTMCDOn The Fly: Analyst Initiation Summary
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09:17 EDTXU.S. Steel makes management changes at European and North American operations
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08:36 EDTSWHCSmith & Wesson raises FY15 non-GAAP EPS to 96c-98c from 87c-89c, consensus 77c
Raises FY15 revenue to $546M-$555M from $532M-$536M, consensus $535.53M. The company indicated that orders throughout its fiscal fourth quarter have been stronger than originally anticipated and it is therefore increasing its guidance.
08:35 EDTSWHCSmith & Wesson raises Q4 non-GAAP EPS to 29c-31c from 39c-41c, consensus 26c
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06:04 EDTMCDMcDonald's initiated with a Market Perform at Cowen
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April 14, 2015
09:37 EDTFDXPlug Power says FedEx rolling out GenDrive powered cargo tuggers
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07:10 EDTFDXAviation Week to hold a conference
MRO Americas 2015 is being held in Miami Beach on April 14-16.
April 13, 2015
15:16 EDTGMEGameStop management to meet with Piper Jaffray
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08:15 EDTSWHCSmith & Wesson positioned for solid recovery, says Cowen
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