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Stock Market & Financial Investment News

News Breaks
January 3, 2014
16:50 EDTAAL, DAL, TM, GM, S, JBLU, RAD, HMC, HLF, UAL, FEYE, FOn The Fly: Closing Wrap
Stocks on Wall Street were mixed in the second trading session of the year, with the Dow climbing, the Nasdaq falling, and the S&P 500 finishing virtually flat. Volume remained light, with snow in the northeast and the fractured holiday week perhaps keeping some market participants home. The averages traded in a modest range for much of the session, with commentary from some Fed members, including outgoing chairman Ben Bernanke, moving the markets in the final hour of trade. ECONOMIC EVENTS: In the U.S., the New York ISM fell to 63.8 in December from a prior reading of 69.5. Crude oil inventories fell by more than projected last week, drawing down by about 7M barrels. COMPANY NEWS: Automakers released their U.S. sales data for December, and among the notable reporters was General Motors (GM), which reported sales fell by over 6% during the month compared to last year and shares of the car-maker fell $1.38, or 3.37%, to $39.57 following the announcement. Ford (F) reported December sales grew by almost 2%, while Japanese manufacturers Honda (HMC) reported sales that rose 1.9% and Toyota (TM) saw sales drop 1.7%. Shares of computer-security firm FireEye (FEYE) gained $15.89, or 38.63%, to $57.02 after the company announced last night that it had bought privately held cybersecurity firm Mandiant in a deal valued at $1 billion. FireEye also raised its revenue outlook and analysts at Bank of America Merrill Lynch and JPMorgan increased their price targets on the stock. MAJOR MOVERS: Among the notable gainers was Rite Aid (RAD), up 43c, or 8.53%, to $5.47 after the company reported December same-store sales that rose 2.9%, with analysts at Deutsche Bank noting that this is the pharmacy's best growth in 21 months. Also higher was Delta (DAL), up $1.53, or 5.52%, to $29.23 after reporting that its Passenger Revenue per Available Seat Mile, or PRASM, was up 10% in December compared to the prior year. Delta's airline peers, including United Continental (UAL), up $2.22, or 5.88%, to $39.95, JetBlue (JBLU), up 45c, or 5.23%, to $9.05, and American Airlines (AAL), up $1.18, or 4.65%, to $26.54 also advanced. Among the noteworthy losers was Herbalife (HLF), down $2.74, or 3.43%, to $77.09 after the Federal Trade Commission announced it will hold a press conference next Tuesday to announce an initiative against "deceptive advertising of weight-loss products," though the FTC did not name the products or manufacturers it will target. Also lower was Sprint (S), down 46c, or 4.42%, to $9.94 after the stock was cut to Sell from Hold at Stifel, which said it is skeptical of the company's near-term M&A prospects. INDEXES: The Dow was up 28.64, or 0.17%, to 16,469.99; the S&P 500 was down 0.61, or 0.03%, to 1,831.37; the Nasdaq was down 11.16, or 0.27%, to 4,131.91.
News For GM;F;HMC;TM;FEYE;RAD;DAL;UAL;JBLU;AAL;HLF;S From The Last 14 Days
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April 7, 2014
14:16 EDTGMGroup says General Motors' Impala could have air bag defect, Bloomberg reports
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12:47 EDTFFord recalls 434,000 vehicles in two unrelated recalls, Detroit News reports
Ford is recalling more than 434,000 vehicles in two separate recalls announced Monday, reports Detroit News. The company is recalling 385,750 Escape compact SUVs due to a rusty subframe. it also will recall 48,950 Ford Fusion, Lincoln MKZ, Ford Escape and C-Max vehicles to replace seatback frames that don't comply to the NHTSA standard. Reference Link
11:17 EDTGMGeneral Motors upgraded to Buy from Hold at Standpoint Research
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10:32 EDTAAL, DAL, JBLU, UALAirline stocks rally after Goldman ups sector rating
Airline stocks are rising in a down market after Goldman Sachs raised its rating on the sector to Attractive from Neutral. WHAT'S NEW: Although airline stocks have already outperformed the market, it's not too late for investors to get involved in the sector, Goldman wrote in a note to investors earlier today. Not yet priced into the stock are higher ticket prices, more crowded planes, and a recovering U.S. consumer, according to the firm. It initiated coverage of American Airlines (AAL) with a Buy rating and upgraded its rating on JetBlue (JBLU) to Neutral from Sell. Goldman kept Buy ratings on Delta (DAL) and United Continental (UAL). PRICE ACTION: In mid-morning trading, American Airlines rose 1.25% to $37, JetBlue added 0.6% to $8.80, Delta gained 2% to $35.30, and United Continental lost 0.5% to $44.65.
10:10 EDTFEYEAnalyst sees 'golden' opportunity after software stocks decline
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10:00 EDTAAL, FEYEOn The Fly: Analyst Initiation Summary
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10:00 EDTJBLUOn The Fly: Analyst Upgrade Summary
Agios Pharmaceuticals (AGIO) upgraded to Overweight from Neutral at JPMorgan... Alcoa (AA) upgraded to Hold from Sell at Deutsche Bank... Align Technology (ALGN) upgraded to Outperform from Market Perform at Barrington... Analog Devices (ADI) upgraded to Neutral from Sell at Goldman... B&G Foods (BGS) upgraded to Outperform from Sector Perform at RBC Capital... Citigroup (C) upgraded to Neutral from Underweight at HSBC... Intel (INTC) upgraded to Outperform from Sector Perform at Pacific Crest... JetBlue (JBLU) upgraded to Neutral from Sell at Goldman... Kindred Healthcare (KND) upgraded to Outperform from Sector Perform at RBC Capital... Lennox (LII) upgraded to Outperform from Market Perform at Wells Fargo... Newmont Mining (NEM) upgraded to Hold from Sell at Deutsche Bank... PBF Energy (PBF) upgraded to Buy from Neutral at Citigroup... Renasant (RNST) upgraded to Outperform from Market Perform at Raymond James... Select Medical (SEM) upgraded to Outperform from Sector Perform at RBC Capital... Ultra Petroleum (UPL) upgraded to Outperform from Market Perform at Raymond James... Under Armour (UA) upgraded to Buy from Neutral at Sterne Agee... Hercules Technology (HTGC) upgraded to Buy from Hold at Sandler ONeill... Standard Pacific (SPF) upgraded to Outperform from Market Perform at Raymond James... Yelp (YELP) upgraded to Outperform from Perform at Oppenheimer... Netflix (NFLX) upgraded to Outperform from Perform at Oppenheimer... Pandora (P) upgraded to Outperform from Neutral at Wedbush.
08:49 EDTFEYEFBR sees 'golden buying opportunity' in enterprise software
FBR Capital says a "'golden buying opportunity" exists in the enterprise software space following the recent sell-off of high-growth names. The firm believes overall software results in Q1 tracked in line to slightly ahead of expectations. It recommends buying Splunk (SPLK), Salesforce.com (CRM), Workday (WDAY), FireEye (FEYE), NetSuite (N) and Palo Alto (PANW) on the recent pullbacks.
08:26 EDTFEYEFireEye initiated with an Outperform at FBN Securities
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07:09 EDTDAL, AAL, UAL, JBLUAirline quality study shows customer complaint improvement, Reuters says
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06:35 EDTGMGM investors keep faith as recall reduces $3B in value, Bloomberg says
A variety of institutional investors in GM say they still feel confident in the stock after the recall crisis reduced more than $3B in shareholders’ value over four weeks, reported Bloomberg. Reference Link
06:29 EDTGMGeneral Motors considers range of options for victim-compensation, WSJ says
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06:23 EDTDALDelta Air Lines to equip flight attendants with Nokia Lumia 1520
Delta Air Lines (DAL) this fall will equip more than 20,000 flight attendants with handheld Nokia (NOK) Lumia 1520 phablets, which will serve as their on-board manual and in-flight sales device as well as a platform for future, more personalized in-flight customer service. The Lumia 1520 features a larger format, 6-inch screen and will replace the smaller Lumia 820 already in the hands of Delta on-board professionals.
06:14 EDTUAL, JBLU, DAL, AALAirlines sector upgraded to Attractive from Neutral at Goldman
Goldman upgraded the Airlines sector to Attractive from Neutral based on a more bullish views on the cycle and improving demand. The analyst believes consensus estimates underestimate pricing, which will boost multiples. As part of the sector change, the firm initiated American Airlines (AAL) with a Buy rating and upgraded JetBlue (JBLU) to Neutral from Sell.
06:10 EDTJBLUJetBlue upgraded to Neutral from Sell at Goldman
Goldman upgraded JetBlue citing improving domestic pricing prospects. Price target is$10.50.
06:09 EDTAALAmerican Airlines initiated with a Buy at Goldman
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05:25 EDTFFord Transit Connect awarded five star safety rating by NHTSA
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April 6, 2014
18:12 EDTGMGM to begin fixing faulty ignition switches, WSJ says
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16:07 EDTGMGM's Opel brand planning compact electric car by 2017, Reuters says
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14:53 EDTGMMcCaskill says GM ignition case could lead to criminal charges, Reuters says
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