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Stock Market & Financial Investment News

News Breaks
December 14, 2012
12:37 EDTGE, SZYM, PAY, YHOO, CNC, ADBE, AVG, BBYOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite better than expected reports on U.S. industrial production and Chinese manufacturing activity. The data, however, had little impact as investors continue to wait for a break through on the fiscal cliff negotiations. The market has moved in a narrow range during the morning hours and shows little sense of direction... ECONOMIC EVENTS: In the U.S., a report showed consumer prices declined 0.3% in November, mainly because of falling gasoline costs. When food and energy are removed from the equation, "core" prices increased 0.1%, versus expectations for them to rise 0.2%. Markit's preliminary manufacturing PMI improved to 54.2 in December, versus the 52.8 final reading for November. Industrial production beat expectations with a 1.1% increase in November, versus expectations for a rise of 0.3%. Industrial production capacity utilization rose to 78.4%, which was a bit more than an expected move up to 78.0%. In China, Markit's flash China PMI rose to a 14-month high reading of 50.9, beating expectations for a 50.8 reading. In Europe, Germany's flash PMI hit an 8-month high with a 50.2 reading, while France hit a 4-month high at 45.0, though its figure still indicates contraction... COMPANY NEWS: General Electric (GE) boosted its dividend by 12% to 19c per share and increased its existing share repurchase authorization by $10B... Among companies reporting earnings last night, Adobe (ADBE) advanced nearly 6% while VeriFone (PAY) declined over 10%... MAJOR MOVERS: Among the notable gainers were Solazyme (SZYM), up about 11% after announcing it has reached commercial-scale output at a facility in Iowa, and AVG Technologies (AVG), up 9% after announcing a new Search and Distribution relationship with Yahoo! (YHOO). Among the noteworthy losers was Best Buy (BBY), which fell over 15% after its board extended the deadline for founder Richard Schulze to deliver a potential buy-out bid. Also lower were shares of Centene (CNC), down over 8% after the company cut its FY12 EPS guidance... INDICES: Near 12:30 pm ET, the Dow was down 4.05, or 0.03%, to 13,166.67; the Nasdaq was down 10.15, or 0.34%, to 2,982.01; and the S&P 500 was down 2.50, or 0.18%, to 1,416.95.
News For GE;ADBE;PAY;BBY;CNC;SZYM;AVG;YHOO From The Last 14 Days
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February 2, 2016
10:40 EDTYHOOStifel warns Twitter may go way of tech busts, cuts to Sell
Twitter (TWTR) is giving up nearly all of yesterday's gains after Fortune and The Wall Street Journal poured cold water on a report that private equity firm Silver Lake might be considering making a strategic investment in the company. Additionally weighing on the stock are a Business Insider report claiming that the number of tweets has declined by more than 50% in the last 18 months and research firm Stifel downgrading the stock to Sell. WHAT'S NEW: Yesterday morning, tech website The Information reported that venture capitalist Marc Andreessen and private equity firm Silver Lake have considered making a deal involving Twitter. However, Silver Lake isn't looking to make a deal with Twitter, The Wall Street Journal reported, citing an unnamed source. The Journal's article echoes a report yesterday afternoon by Fortune, which also quoted an unnamed source as saying that Silver Lake isn't interested in buying Twitter. Also, according to Business Insider, the number of daily tweets on Twitter has plummeted by more than 50% since August 2014. The report based its estimate on a sampling of data from the website's application programming interface. Last month, there were 303M tweets per day on average, down from the peak of an average of 661M per day in August 2014, when the World Cup was occurring, the website stated. Moreover, according to the data, Twitter has about 130M active users, versus the company's estimate of up to 320M monthly active users. STIFEL SAY SELL: Stifel analyst Scott Devitt downgraded Twitter to Sell form Hold, saying that it has "never fully developed into a sustainable public company." Yahoo (YHOO) says that it has 1B monthly active users, but the market valuation of Yahoo's core business is "much lower" than that of Twitter, which has a significantly smaller user base, Devitt stated. Additionally, Internet companies Groupon (GRPN) and Zynga (ZNGA) became well-known and obtained tens of millions of users, only to see their stocks plummet, the analyst stated. Meanwhile, Twitter's product has not changed significantly since the company hired a new CEO three months ago and it will have difficulty meeting financial expectations over the short-term and longer term, given the size of its user base, said Devitt, who has a $14 price target for the shares. PRICE ACTION: In morning trading, Twitter fell 6.3% to $16.78. The stock had gained 6.55% yesterday on the heels of Jessica Lessin's report in The Information.
10:01 EDTGEGE Appliances agrees to four-year contract extension with Taylor Morrison
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06:26 EDTYHOOStifel cuts Twitter to Sell after noting Yahoo has significantly more users
Stifel analyst Scott Devitt downgraded Twitter (TWTR) to Sell from Hold after "materially lowering" his forward estimates for the company. Twitter is a product that has "never fully developed into a sustainable public company," Devitt tells investors in a research note. To those that believe the microblog's 320M active user base is significant, the analyst points out that Yahoo (YHOO) still reports 1B monthly active users across its network and AOL's final public disclosure last year prior to its acquisition by Verizon (VZ) still showed nearly 200M unique visitors. Twitter will be challenged to reach its near- and long-term financial expectations, the analyst contends. Devitt points out that Facebook (FB) continues to generate over two times as much advertising revenue per monthly active user in the U.S. as Twitter. He has a $14 price target for the shares. Twitter closed yesterday up $1.10 to $17.90 after The Information reported that Silver Lake and investor Marc Andreessen have "considered some sort of deal" for the microblog operator.
06:24 EDTYHOOOptions expected to be active
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06:20 EDTYHOOYahoo investors waiting on explicit sale signals, Re/code says
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06:15 EDTYHOOYahoo volatility increases into Q4 and outlook
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February 1, 2016
15:56 EDTYHOOYahoo sued over mass layoffs, employee ranking system, NY Times says
Gregory Anderson, a former Yahoo editor who oversaw several of the company's websites, has filed suit over its employee ranking system, which Anderson alleges was routinely manipulated by senior managers to fire hundreds of employees without proper justification, reports the New York Times. Reference Link
11:42 EDTYHOOStocks with call strike movement; YHOO KORS
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11:01 EDTYHOOYahoo CEO to unveil cost reduction plan Tuesday, WSJ reports
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09:07 EDTGEGE to stop making coiled compact fluorescent lamps for U.S. market
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08:58 EDTCNCCentene files to sell 1.14M shares of common stock for RGA International
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08:32 EDTGEGE Hitachi Nuclear Energy completes services outage at PWR facility
GE Hitachi Nuclear Energy announced the successful completion of its first services outage at a Pressurized Water Reactor, or PWR, facility. The outage, completed in partnership with Exelon Generation at the R.E. Ginna Nuclear Power Plant in Ontario, New York, was completed under budget and ahead of schedule with no safety-related or human performance issues. GEH is a part of a global nuclear alliance created by GE and Hitachi to serve the global nuclear industry.
08:17 EDTCNCCenturion selected to provide correctional healthcare in Florida
Centene Corporation announced that Centurion of Florida, a JV between Centene and MHM Services, has reached a formal agreement to provide correctional healthcare services for the Florida Department of Corrections in Regions 1, 2 and 3. This agreement with Centurion is a result of the State undertaking negotiation of a gap contract due to early termination by its prior vendor. The initial term of Centurion's contract with the Department of Corrections runs through January 2018 when the Department anticipates completion of a formal procurement. However, the agreement also includes optional renewal periods if the formal procurement is not finalized in the anticipated timeframe. Centurion will provide comprehensive healthcare services to over 70,000 inmates housed at facilities throughout the three Regions.
08:09 EDTYHOOOptions expected to be active
Options expected to be active: GOOGL GOOG YHOO UPS KORS UPS BAX RCL CCL PFE AET D STR DWA CMG ABT SYK.
06:26 EDTYHOOYahoo volatility elevated into Q4 and outlook
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06:21 EDTYHOOYahoo CEO does not plan to step down anytime soon, NY Post reports
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05:46 EDTGEGE Oil & Gas reports over $700M of customer agreements
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05:44 EDTGEGE Oil & Gas announces investments in Italy worth $600M
GE Oil & Gas announced a new Memorandum of Understanding that will lead to the investment of $600M over the next five years in Italy. The MoU was signed today in Florence by GE Oil & Gas at a ceremony attended by the Minister of Economic Development Federica Guidi, the President of Tuscany Region Enrico Rossi, GE's Chairman and CEO Jeff Immelt, the President and CEO of GE Italia Sandro De Poli, the President and CEO of GE Oil & Gas Lorenzo Simonelli and the President of Nuovo Pignone Massimo Messeri. The investment in significant research, development and technological innovation in the country reaffirms GE Oil & Gas' commitment to the Italian market, and reinforces its cooperation with universities, SMEs and the regional economy where it operates. Tuscany is the home to Oil & Gas' Turbomachinery Solutions division and is also present in Lombardy, Calabria and Apulia. Another Memorandum of Understanding has been signed in the last weeks between Avio Aero - a GE Aviation business - and the Italian Minister of Economic Development, consisting of EUR200M over the next four years and involving Piedmont, Apulia and Campania, the geographical areas in which Avio Aero employs about 4,000 people. The MoU announced today will see GE Oil & Gas operations invest $600M over the next five years establishing a centre of global excellence in Tuscany for the oil and gas sector that will involve 500 highly qualified people coming from GE, universities, research labs, and small and medium-sized enterprises. The project aims at increasing Italian production by 50% and increase company revenue by $1.7B in five years. The program, named Galileo, supports the development of gas turbines and centrifugal compressors with a 5-65MW power range and innovative digital technologies covering their entire life cycle with aim of optimising the performance and operative life of the products.
January 31, 2016
16:35 EDTYHOOYahoo accidentaly fired dozens of employees, NY Post says
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13:47 EDTYHOOYahoo delay in seeking sale could force proxy fight, Barron's says
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