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Stock Market & Financial Investment News

News Breaks
December 19, 2012
12:58 EDTBTH, SWHC, GIS, ORCL, ONTY, MKL, NAV, FDX, RGR, ALTE, ATU, GMOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq a bit higher and the Dow and S&P modestly lower. The averages remained in a narrow trading range this morning, as investors await movement in the ongoing fiscal cliff negotiations, with Obama continuing to take an oppositional but hopeful tone in a press conference this afternoon... ECONOMIC EVENTS: In the U.S., housing starts slid 3.0% in November to a 861,000 start rate, versus the expected 872,000. However, building permits rose 3.6% month over month to a 899,000 rate, versus the expected 875,000. In Europe, German business confidence increased for a second month in December, as indicated by the Ifo Business Climate Index climbing to 102.4 from 101.4 in November. Also, S&P raised its rating on Greece to B-minus from selective default late Tuesday. In Asia, the World Bank forecast China’s economy to grow 7.9% this year but rebound to a growth rate of 8.4% in 2013... COMPANY NEWS: General Motors' (GM) stock rose about 8% after the company announced plans to buy back 200M shares held by the U.S. Treasury in a first step toward the government's full exit from its holding within the next 12 to 15 months. GM will pay $27.50 a share, or $5.5B total, and expects to close the deal to reduce the government's stake in the company to 19% from 26.5% by the end of this year... Among notable companies reporting earnings after the close last night or before today's open, Oracle (ORCL) advanced over 4% and FedEx (FDX) rose about 3%, while Actuant (ATU) declined more than 6%, Navistar (NAV) fell over 5% and General Mills (GIS) slid nearly 1%... UBS (UBS) agreed to pay about $1.5B in a settlement reached with American and British regulators over charges its traders conspired to manipulate the London Interbank Offered Rate, or LIBOR... MAJOR MOVERS: Among the notable gainers was Alterra Capital (ALTE), up 24% following its deal to be acquired by Markel (MKL) for $31 per share in stock and cash. Also higher were shares of Smith & Wesson (SWHC), up 9%, and Sturm, Ruger (RGR), up over 6%, after President Obama promised to pursue 'real reforms' to gun control laws but also defended the right to bear arms as granted by the 2nd amendment. Among the noteworthy losers was Oncothyreon (ONTY), down over 54% after its lung cancer drug missed its endpoint in a study. Also lower were shares of Blyth (BTH), which rose early in the session but then reversed to be down 9% near midday after increasing its ownership in ViSalus to more than 80%... INDICES: In early afternoon trading, the Dow was down 22.33, or 0.17%, to 13,328.63; the Nasdaq was up 4.39, or 0.14%, to 3,058.92; and the S&P 500 was down 1.40, or 0.10%, to 1,445.39.
News For GM;FDX;ORCL;ATU;NAV;GIS;ALTE;MKL;SWHC;RGR;ONTY;BTH From The Last 14 Days
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February 27, 2015
06:24 EDTFDXFedEx upgraded to Outperform from Neutral at Credit Suisse
Credit Suisse upgraded FedEx to Outperform to reflect the shift in capex focus towards U.S. Ground Network capacity, a higher margin business and less capital intensive than Express. The firm expects consolidated margins and ROIC to improve should FDX Ground continue its outsized growth. Price target to $203 from $177.
February 26, 2015
13:06 EDTGMGM reaches agreement with Brazil factory union, Reuters says
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10:39 EDTGMOrbital ATK selected by 10 automakers to investigate Takata airbags
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06:42 EDTGMGeneral Motors to stop making cars in Indonesia, Reuters says
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06:35 EDTFDXBoeing, FedEx oppose punishing Gulf airlines for alleged subsidies, Reuters says
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February 25, 2015
17:07 EDTRGRSturm, Ruger reports adjusted Q4 EPS 53c, consensus 40c
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10:12 EDTRGRHigh option volume stocks
High option volume stocks: WBAI HDS ICON NWBO RGR GFI RKT TJX RSG LC
February 24, 2015
13:13 EDTGMTesla Model S named 'best overall' by Consumer Reports
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06:29 EDTFDXCriticism grows against U.S. airline attempts to limit Gulf airlines, WSJ says
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February 23, 2015
10:40 EDTGMGM ignition-switch deaths increase to 57, WSJ says
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06:24 EDTGMGeneral Motors to legally challenge worker strike in Brazil, WSJ reports
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February 22, 2015
14:20 EDTGMUAW chief says GM buyback proposal too much, premature, Reuters says
Dennis Williams, the president of the UAW, said that an investor group’s proposal that GM buy back $8B of its stock is premature, and the amount too high for the company’s long-term health, says Reuters. The UAW indirectly controls the largest single block of General Motors shares, added Reuters. Reference Link
February 20, 2015
12:53 EDTNAVCitigroup sees truck carrier stocks poised to outperform
With the U.S. economy growing quickly, the stocks of truck carriers are likely to outperform the S&P 500, Citigroup believes. WHAT'S NEW: Truck transportation prices and truck carrier stocks "respond most directly to economic growth," Citigroup analyst Christian Wetherbee wrote in a note to investors today. After carriers' truckload rates rose 4% last year, the rates should rise by a similar amount this year, Wetherbee predicted. Economic growth, along with the difficulties the carriers are experiencing with recruiting drivers, should be supportive of additional rate increases, the analyst stated. Wetherbee warned that the stocks of truck builders usually underperform during periods such as the current one, when a large amounts of U.S. class 8 trucks are being built. Consequently, truck carrier stocks present investors with an opportunity, while investors should be cautious on truck builders and parts suppliers, he wrote. Among truck carriers, Swift (SWFT) is particularly attractive, since it has underperformed its peers over the last year, Wetherbee stated. Additionally, the company's results appear likely to at least meet consensus estimates, the analyst predicted. He also kept a Buy rating on another truck carrier, Knight Transportation (KNX) and maintained a Buy rating on Cummins (CMI), which builds truck engines. The analyst kept a Hold rating on truck builder PACCAR (PCAR). OTHERS TO WATCH: Navistar (NAV) builds trucks and Celadon (CGI) is another truck carrier. PRICE ACTION: In early afternoon trading, Swift rose 1%, Knight Transportation gained 1.3%, Cummins added 0.7%, and PACCAR lost 0.5%.
08:11 EDTGMAlly CEO exploring subprime lending, sees loss of GM business, Detroit News says
Ally (ALLY) CEO Jeffrey Brown stated in a Thursday interview with The Detroit News that the company may return to offering credit cards and home mortgages, and currently plans to expand auto lending to subprime customers. The CEO said he expects to decide within 30-60 days whether Ally will consolidate its five locations to a single headquarters in the Detroit suburbs. Brown added that he expects GM (GM) to shift its $4.1B subsidized leasing program for Chevrolet from Ally to GM Financial, which the Ally CEO wants to offset by increasing subprime lending from 9% of total lending to 12%-15%. Reference Link
07:04 EDTGMAlly CEO assuming company will lose all of GM's leasing business, Reuters says
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06:41 EDTGMApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
06:06 EDTGMGeneral Motors names Craig Glidden as new general counsel
General Motors (GM) announced yesterday that Craig B. Glidden has been appointed executive VP and general counsel, effective March 1. Glidden will lead a team of staff attorneys who are integrated into all of GM’s regional and functional teams in more than 30 countries. Glidden succeeds Michael Millikin, who is retiring in July after a nearly four-decade legal career, including five years as GM’s general counsel. Before joining GM, Glidden was executive VP and chief legal officer for LyondellBasell Industries (LYB).
February 19, 2015
11:04 EDTORCLOracle unveils new big data solutions
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February 18, 2015
06:38 EDTGMCar sales rose in Europe last month, NY Times says
European car sales increased 6.7% in January, versus the same period a year earlier, data from the European Automobile Manufacturers’ Association indicates, according to The New York Times. January was the 17th straight month that European car sales have increased, but they remain well below the levels they reached before the financial crisis, the newspaper stated. Publicly traded companies in the space include Fiat Chrysler (FCAU), Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
04:55 EDTORCLStocks with implied volatility movement; MO ORCL
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