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Stock Market & Financial Investment News

News Breaks
December 14, 2012
16:25 EDTGE, ADBE, PAY, RIGL, QUAD, ARIA, BBYOn The Fly: Closing Wrap
Stocks on Wall Street finished lower after the averages sat just below the flat line for much of the session. Stocks moved lower during the final ninety minutes of trading, leaving each of the major averages down on the week... 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... 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) shares rose $2.05, or 5.77%, to $37.58, while shares of VeriFone (PAY) declined $3.63, or 10.92%, to $29.60... MAJOR MOVERS: Among the notable gainers was Rigel Pharmaceuticals (RIGL), up $1.01, or 18.33%, to $6.52 after Leerink called the recent pullback a "temporary dislocation" and maintained an Outperform rating in the name. Also higher were shares of Quad/Graphics (QUAD), up $2.40, or 14.36%, to $19.11 after the company increased its quarterly dividend by 20% and declared a $2.00 per share special dividend. Among noteworthy losers was Aria Pharmaceuticals (ARIA), down $4.95, or 20.73%, to $18.93 after announcing that its leukemia treatment was approved by the FDA, though the regulator required that the drug include a "Boxed Warning." Shares of Best Buy (BBY) also slid $2.07, or 14.66%, to $12.05 after the company's board extended the deadline for founder Richard Schulze to deliver a potential buy-out bid... INDICES: The Dow was down 35.71, or 0.27%, to 13,135.01; the Nasdaq was down 20.83, or 0.70%, to 2,971.33; the S&P 500 was down 5.87, or 0.41%, to 1,413.58.
News For GE;ADBE;PAY;RIGL;QUAD;ARIA;BBY From The Last 14 Days
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July 14, 2014
09:06 EDTGEEmirates signs $13B GE9X services agreement
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07:43 EDTGEGE far ahead of Caterpillar in race for cleaner diesel train, WSJ says
Caterpillar (CAT) has fallen far behind in the race to offer a locomotive that meets stricter emission standards taking effect next year, with its Electro-Motive Diesel unit stating that its freight trains probably won't be available until 2017, while General Electric (GE) is already testing trains that comply with the new rules, reported The Wall Street Journal. Reference Link
07:37 EDTARIAARIAD announces continuation of Iclusig review under Article 20 procedure
ARIAD Pharmaceuticals announced that the Pharmacovigilance Risk Assessment Committee of the European Medicines Agency has provided the company with a request for limited additional information regarding Iclusig as part of its ongoing review under the Article 20 referral procedure. The PRAC has requested further information regarding proposed dose modifications after achievement of a response and patient monitoring and details concerning a risk management plan. Following ARIAD’s response and input from the agency’s Scientific Advisory Group, the company expects that the PRAC will complete its review and make final recommendations to the Committee for Medicinal Products for Human Use at its meeting in October. As we finalize our recommendations on dose modifications of Iclusig and response monitoring of patients, we will work closely with the European regulatory agency and its expert advisors so that CML patients and their treating physicians have the best guidance available supporting the appropriate use of Iclusig,” said Timothy P. Clackson, Ph.D., president of research and development and chief scientific officer at ARIAD. In March ARIAD submitted responses to initial questions outlined by the PRAC as part of the Article 20 process, which was initiated in December of last year, and responses to a second set of questions were submitted to the PRAC in June.
July 13, 2014
11:40 EDTGEAmerican selects CFM engine to power A320 in order valued $2.6B
American Airlines (AAL) has selected CFM International’s advanced LEAP-1A engine to power its new fleet of 100 Airbus (EADSY) A320neo family aircraft. CFM values the engine order at $2.6B U.S. at list price. The aircraft order was originally announced in July 2011 and American will begin taking delivery in 2017. American also has orders for LEAP-1B engines to power 100 Boeing 737 MAX aircraft, which are also scheduled to be delivered beginning in 2017. American has been a CFM customer since 1996 and the airline’s fleet includes 375 Airbus A320 Family and Boeing 737 aircraft powered by CFM56 engines. CFM International is a 50/50 joint company between Safran and General Electric (GE).
July 12, 2014
18:08 EDTGEeasyJet said to choose GE-Safran engine for Airbus jets, WSJ says
easyJet (ESYJY) is set to order engines from a partnership of General Electric (GE) and France's Safran to power 100 Airbus Group (EADSY) NV A320neo jets, says the Wall Street Journal. According to the WSJ report United Technologies (UTX) unit Pratt & Whitney was also aggressively competing for the order. Reference Link
July 11, 2014
08:05 EDTGEGE Capital increases credit facility for OraMetrix
GE Capital’s Healthcare Financial Services business announced that it is the sole lender on a $10M senior secured term loan for OraMetrix. This transaction refinances the company’s previous $7.5M multi-draw senior secured term loan facility and provides it with an additional $2.5M. The funds will be used for working capital and growth initiatives.
08:03 EDTGEGE Capital provides MerchSource with $130M credit facility
GE Capital announced it is providing MerchSource with a $130M senior credit facility providing working capital for the company’s operations in the U.S. and Hong Kong.
07:45 EDTGEWith Alstom agreement settled, attention on GE turns to earnings, Reuters says
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06:16 EDTBBYBest Buy price target raised to $36 from $31 at Citigroup
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July 10, 2014
13:25 EDTARIAARIAD mentioned positively by Stansberry Research
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07:29 EDTGEGeneral Electric volatility elevated into Q2 and revenue outlook
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06:00 EDTPAYeBay repatriated cash likely to be used for M&A, says Piper Jaffray
Piper Jaffray believes a large part of the $9B in cash eBay expects to repatriate to the U.S. will be used for acquisitions in the payments space. The cash, equating to $6B net of taxes, could help eBay take advantage of the shift to mobile payments, the firm says. Piper lists Square, VeriFone (PAY), iZettle and Corduro as companies in the payment space that are within acquisition range for eBay. The firm has an Overweight rating on eBay with a $63 price target.
July 9, 2014
07:06 EDTGEUniversal Stainless & Alloy achieves S-400, S-1000 approvals from GE Aviation
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06:34 EDTADBEFake document hits federal court in hiring case against tech giants, WSJ says
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July 8, 2014
17:09 EDTGEGE, Suncor announce new investments in Alberta oil sands
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14:57 EDTQUADQuad/Graphics to close two plants in Q3, Chicago Tribune says
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11:53 EDTARIAOptions with increasing implied volatility
Options with increasing implied volatility: VJET XONE ARIA FTNT STX DAL PSEC SAN AMJ
09:04 EDTGEGE to supply SSE Renewables with wind turbines
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09:02 EDTGEGE EFS, E.ON partner to complete GE-powered wind farm in Texas Panhandle
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06:22 EDTGEBoeing faces risk to long-term credit if Export-Import Bank is closed, WSJ says
According to a new study by S&P, Boeing (BA) could have to double its financial backing to airline and leasing-company clients over the long term if U.S. lawmakers decide to close the Export-Import Bank, the Wall Street Journal reports. S&P says that a significant expansion of its direct loans and guarantees risks harm to Boeing's long-term credit rating. Other manufacturers, like United Technologies (UTX), Caterpillar (CAT) and General Electric (GE), also face risks should the bank be eliminated. Reference Link
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