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Stock Market & Financial Investment News

News Breaks
December 19, 2012
12:58 EDTRGR, ALTE, ATU, GM, BTH, SWHC, GIS, ORCL, ONTY, MKL, NAV, FDXOn 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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April 8, 2014
07:17 EDTGMChina car sales up 9% as curbs spark early purchases, Bloomberg says
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07:14 EDTGMGM SUVs earn top scores among rivals in crash test, Bloomberg says
The Insurance Institute for Highway Safety said GM's (GM) Chevrolet Equinox and GMC Terrain earned the highest scores among mid-size sport-utility cars in a test made to simulate one of the deadliest kinds of front-end crashes, according to Bloomberg, citing a statement from IIHS's Chief Research Officer David Zuby. Toyota's (TM) Highlander earned an "acceptable" rating, while the other six cars that were tested were given a "marginal" or "poor" rating. Reference Link
April 7, 2014
17:43 EDTORCLFour Oracle insiders sold $69.5M in stock, Barron's says
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17:25 EDTGMGeneral Motors to invest $450M in electric cars, WSJ says
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14:16 EDTGMGroup says General Motors' Impala could have air bag defect, Bloomberg reports
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11:17 EDTGMGeneral Motors upgraded to Buy from Hold at Standpoint Research
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09:00 EDTORCLOracle management to meet with Deutsche Bank
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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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06:13 EDTONTYOncothyreon announces Merck KGaA initiation of Phase 3 START2 study
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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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April 4, 2014
17:36 EDTGMJudge does not issue 'stop drive order' for faulty GM vehicles, Reuters says
U.S. District Court Judge Nelva Gonzales Ramos did not issue a "stop drive order" that would have parked 2.6M General Motors' cars recalled for defective ignition switches, Reuters reports. The judge said she would need additional time to study briefs submitted by attorneys, Reuters added. Reference Link
17:12 EDTGMMarket finishes mixed as Nasdaq sells off into weekend
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10:02 EDTGISOn The Fly: Analyst Downgrade Summary
Antero Resources (AR) downgraded to Buy from Strong Buy at ISI Group... Cobalt (CIE) downgraded to Buy from Strong Buy at ISI Group... Franklin Resources (BEN) downgraded to Market Perform at Keefe Bruyette... Hasbro (HAS) downgraded to Hold from Buy at Needham... PPL Corp. (PPL) downgraded to Neutral from Outperform at Macquarie... Sonic (SONC) downgraded to Neutral from Buy at Buckingham... Vodafone (VOD) downgraded to Neutral from Buy at Nomura... AutoZone (AZO) downgraded to Neutral from Outperform at RW Baird... Advance Auto Parts (AAP) downgraded to Neutral from Outperform at RW Baird... LinnCo (LNCO) downgraded to Neutral from Buy at Citigroup... LINN Energy (LINE) downgraded to Neutral from Buy at Citigroup... General Mills (GIS) downgraded to Hold from Buy at Argus.
07:55 EDTGMFord outpacing rivals in China on strength of SUVs, WSJ says
Thanks in large part to a rising demand in China for sport-utility vehicles, Ford's (F) China deliveries jumped past Toyota (TM) in 2013 and the U.S. automaker also gained on General Motors (GM) and Volkswagen (VLKAY), who it has similarly trailed in China for years, reported The Wall Street Journal. Reference Link
07:38 EDTGMGM ups truck discounts in April, Reuters says
GM (GM) again increased discounts on its full-size Chevrolet Silverado pickups after being outsold in March by Chrysler's Ram 1500, according to Reuters, citing GM's details of the discount on the company's consumer website. Chrysler is a unit of Fiat (FIATY). Reference Link
07:33 EDTGISGeneral Mills downgraded to Hold from Buy at Argus
Argus downgraded General Mills due to a weaker outlook for yogurt sales and the cereal business.
06:49 EDTGMNHTSA still receiving answers, documentation from GM, WSJ reports
GM says it has submitted 200,000 pages of records and answered more than 65% of the 107 questions the NHTSA has asked about the events leading to the ignition switch recall, though a timetable has not been released on when the information will be made public, the Wall Street Journal reports. Reference Link
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