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Stock Market & Financial Investment News

News Breaks
February 12, 2014
08:48 EDTBA, IBM, SFTBF, TWTR, TM, TMUS, MSFT, KO, BAC, S, F, GM, FIATYOn the Fly: Periodicals Wrap
WSJ: Detroit automakers (GM, F, FIATY) want to clear inventory without hurting pricing...REUTERS: Microsoft (MSFT) says it's not censoring China searches...Softbank (SFTBF) CEO says 'no comment' on rumors Sprint (S) is looking to buy T-Mobile (TMUS)...IBM (IBM) CEO Rometty in China for meetings with government leaders...BofA (BAC) sees room to boost Merrill profitability...BLOOMBERG: Toyota (TM) recalling 1.9M Prius vehicles to fix software problem...Boeing (BA) says a China assembly plant an option...OTHER NEWS: Coca-Cola (KO) Israel in monopoly violations investigation, Globes reports...Twitter (TWTR) testing profile redesign, Mashable reports.
News For GM;F;FIATY;MSFT;SFTBF;S;TMUS;IBM;BAC;TM;BA;KO;TWTR From The Last 14 Days
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January 25, 2016
12:53 EDTTWTRVine head Jason Toff to leave Twitter to join Google
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12:17 EDTTWTROn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday as oil prices resumed their slide, giving up some of the surge the commodity saw to close out last week. The stock market, which has been highly correlated with oil lately, continues to be led around by energy prices once again today. ECONOMIC EVENTS: In the U.S., the economic calendar was light with the Dallas Fed manufacturing survey the lone report of note. The survey came in at -34.6, below the revised prior reading of -21.6 and short of the consensus -14.5 forecast. WTI crude oil dropped about 5% to trade near $30.50 per barrel near midday. COMPANY NEWS: Shares of McDonald's (MCD) advanced a bit over 1% after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S. On the other side of the Dow was Caterpillar (CAT), which fell nearly 4% to lead the bluechip index on the down side after its stock was downgraded to Sell at Goldman Sachs... Twitter (TWTR) fell about 4% after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares. MAJOR MOVERS: Among the notable gainers was Tyco (TYC), which rallied 10.8% after it announced that it entered into a definitive merger agreement with Johnson Controls (JCI). Johnson shares fell 2% after the deal announcement. Also higher was Williams Partners (WPZ), which gained 7% after it lowered its estimate of its 2016 growth capital funding needs to $2B, 32% lower than its previous plans. Among the noteworthy losers was OncoMed (OMED), which fell 46% after the company said its Phase 2 ALPINE clinical trial showed futility on an interim analysis. Also lower were KapStone (KS), WestRock (WRK), and Packaging Corp (PKG), which dropped 20%, 13%, and 11%, respectively, after an industry publication reported that prices in the sector had declined. INDEXES: Near midday, the Dow was down 78.00, or 0.48%, to 16,015.51, the Nasdaq was down 23.34, or 0.51%, to 4,567.84, and the S&P 500 was down 11.89, or 0.62%, to 1,895.01.
12:05 EDTTWTRTwitter growth acceleration less likely in near-term, says Evercore ISI
Evercore ISI analyst Ken Sena says the likelihood of near-term growth reacceleration at Twitter (TWTR) looks less likely following today's executive departures. The analyst adds in an intraday research note that traffic trends and agency channel checks continue "to point to the worst" for the company. Sena lowered his Q4 estimates to the low-end of the company's guidance and cut his price target for the shares to $19 from $22. He continues to prefer Facebook (FB) and keeps a Hold rating on Twitter.
11:41 EDTTWTRStifel downgrades Twitter as firm can't see positive spin for executive exits
Twitter (TWTR) is falling after CEO Jack Dorsey confirmed on Sunday night the departure of four company executives, leading research firm Stifel to downgrade the shares. EXECUTIVE EXODUS: The four executives leaving the company are Twitter's head of product, Kevin Weil, head of media, Katie Stanton, head of engineering, Alex Roetter, and head of human resources, Brian "Skip" Schipper. CEO Jack Dorsey confirmed the departures in a tweet, saying, "Want to set the record straight now: Given the inaccurate press rumors today regarding their departures, I'm addressing this now: I'm sad to announce that Alex Roetter, Skip Schipper, Katie Stanton and Kevin Weil have chosen to leave the company... COO Adam Bain will be taking on additional responsibilities, including responsibility for the revenue-related product teams, the media team and the HR team on an interim basis. CTO Adam Messinger will be taking over all of engineering and consumer product, design and research, user services and Fabric into one group." Note that due to Twitter's 140 character limit, Dorsey was forced to post his lengthy message in the form of an image of the text. OTHER EXECUTIVE NEWS: Twitter could name Leslie Berland, currently an executive VP at American Express (AXP), as its new Chief Marketing Officer reporting directly to Dorsey, this week, according to Re/code's Kara Swisher. Additionally, the Wall Street Journal noted that Twitter intends, as part of its shake-up. to bring in two new members to its board as soon as this week. At least one of the people is a high-ranking executive in the media industry, the Journal added. STIFEL DOWNGRADE: Twitter was downgraded to Hold from Buy by Stifel analyst Scott Devitt on Sunday. Devitt cited the executive departures, saying, "While we may not be the sharpest tools in the shed, we don't see how the departure of the heads of three major business divisions can be viewed as a positive in the middle of an attempted business turnaround." PRICE ACTION: In late morning trading, Twitter shares were down almost 4% to $17.15. Note this decline follows a rise of more than 4% late last week on rumors that News Corp. (NWS, NWSA) and other companies were interested in acquiring Twitter. News Corp. later denied it was building a Twitter stake.
11:02 EDTTWTRStocks with call strike movement; TWTR MU
Twitter (TWTR) June 20 call option implied volatility increased 5% to 69, Micron (MU) April 12 call option implied volatility increased 2% to 64 according to iVolatility.
10:00 EDTTWTROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: American Eagle (AEO) downgraded to Hold from Buy at BB&T... American Express (AXP) downgraded on weak revenue outlook at Argus... Bristol-Myers (BMY) downgraded to Market Perform from Outperform at BMO Capital... Caterpillar (CAT) downgraded to Sell from Neutral at Goldman... Crestwood Equity (CEQP) downgraded to Neutral on potential distribution cut at Baird... Cummins (CMI) downgraded to Neutral from Buy at Citi... Federal Realty (FRT) downgraded to Hold from Buy at Evercore ISI... GKN PLC (GKNLY) downgraded to Neutral from Outperform at Credit Suisse... Galapagos NV (GLPG) downgraded to Neutral from Buy at GoldmanvHortonworks (HDP) downgraded to Perform from Outperform at Oppenheimer... International Flavors (IFF) downgraded on headwinds at Stifel... International Paper (IP) downgraded to Neutral from Buy at Citi... JPMorgan (JPM) downgraded to Neutral from Buy at Nomura... KapStone (KS) downgraded to Underperform from Neutral at Macquarie... Mosaic (MOS) downgraded to Neutral from Overweight at JPMorgan... NetSuite (N) downgraded to Equal Weight from Overweight at Stephens... ONEOK Partners (OKS) downgraded to Neutral at Baird... OvaScience (OVAS) downgraded to Perform from Outperform at Oppenheimer... Packaging Corp. (PKG) downgraded to Neutral from Buy at Citi... Potash (POT) downgraded to Neutral from Overweight at JPMorgan... Power Solutions (PSIX) downgraded to Neutral from Overweight at Piper Jaffray... Raymond James (RJF) downgraded to Neutral from Buy at Nomura... Regeneron (REGN) downgraded to Sell from Neutral at Chardan... SanDisk (SNDK) downgraded to Underperform from Outperform at CLSA... Toll Brothers (TOL) downgraded to Market Perform from Outperform at JMP Securities... Twitter (TWTR) downgraded to Hold from Buy at Stifel... WPX Energy (WPX) downgraded to Sector Perform from Outperform at Iberia... WestRock (WRK) downgraded to Neutral from Buy at BofA/Merrill... Whole Foods (WFM) downgraded to Underperform from Market Perform at BMO Capital... Zurich Insurance (ZURVY) downgraded to Neutral from Outperform at Exane BNP Paribas.
09:32 EDTMSFTApple Active equity options trading on open
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09:16 EDTTWTRTwitter drops in early trading following executive departures
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09:04 EDTTMUS, SSprint doubles number of LTE Plus markets
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09:03 EDTTWTROn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
08:22 EDTMSFTMajesco and Microsoft announce favorable court judgment
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08:11 EDTIBMWestern Digital acquires over a hundred patents from IBM
Western Digital (WDC) announced that it has acquired more than 100 patent assets from IBM (IBM). The parties also entered into a patent cross-license agreement. Terms of the transaction were not disclosed. Patents acquired by Western Digital are in distributed storage, object storage, and emerging non-volatile memory. Western Digital expects the IP to further strengthen its technology leadership position and drive value creation for the company and its customers. The patents will augment Western Digital's existing portfolio of more than 10,000 patents and patent applications.
07:32 EDTIBM, STMC to hold a conference
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06:49 EDTTWTRTwitter volatility elevated into four senior executives leaving
Twitter January weekly call option implied volatility is at 73, February is at 87, March is at 75; compared to its 52-week range of 29 to 86, suggesting large February price movement into four senior executives leaving the company.
06:30 EDTFFord to shutter operations in Japan, Indonesia, Reuters reports
Ford will shutter operations in Japan and Indonesia this year since it sees "no reasonable path to profitability" in the two nations, Reuters reports. The car maker will exit all areas of its business, including dealerships and imports of Ford and Lincoln vehicles, in the two countries, the report says, citing an email from Asia Pacific President Dave Schoch to all employees in the region. Reference Link
06:07 EDTTWTRTwitter to bring in two new board members, WSJ reports
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05:56 EDTTWTRTwitter could name Leslie Berland as new CMO this week, Re/code reports
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05:52 EDTTWTRTwitter CEO confirms departures of Roetter, Stanton, Weil, Schipper
Twitter CEO Jack Dorsey tweeted last night, "Was really hoping to talk to Twitter employees about this later this week, but want to set the record straight now: Given the inaccurate press rumors today regarding their departures, I'm addressing this now: I'm sad to announce that Alex Roetter, Skip Schipper, Katie Stanton and Kevin Weil have Chosen to leave the company....COO Adam Ban will be taking on additional responsibilities, including responsibility for the revenue-related product teams, the Media team and the HR team on an interim basis. CTO Adam Messinger will be taking over all of engineering and consumer product, design and research, user services and Fabric into one group." Reference Link
05:51 EDTTWTROptions expected to be active: TYC JCI TWTR SUNE AAPL PG HAL AMZN FB
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05:19 EDTSStocks with implied volatility movement; SWN SCTY
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