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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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August 27, 2015
10:06 EDTORCLCiti sees Workday guidance confusion as opportunity to buy
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August 26, 2015
16:26 EDTGMMajor automakers sued over allegedly 'deadly' keyless technology, Reuters says
A number of automakers have been named in a lawsuit alleging that keyless ignition technology can lead to "deadly" results due to carbon monoxide poisoning from cars left running under the belief that engines will automatically switch off, reports Reuters. Defendants include General Motors (GM), Ford (F), Fiat Chrysler (FCAU), Honda (HMC), Hyundai (HYMLF), Nissan (NSANY), Toyota (TM), Volkswagen (VLKAY), BMW (BAMXY), and Daimler's (DDAIF) Mercedes Benz, said Reuters. According to the plaintiffs, the carmakers had "actual knowledge" of the so-called risks and could have prevented 13 deaths and numerous injuries. Reference Link
13:42 EDTGMTrueCar says 'on plan' to hit 17.2M U.S. vehicle forecast for 2015
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13:19 EDTGMTrueCar says daily auto sales pace up 0.9% for August, with 17.4M SAAR
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13:14 EDTGISGeneral Mills recalls 'limited' quantity of frozen Cascadian Farm green beans
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07:57 EDTSWHCSmith & Wesson volatility elevated into Q1 and outlook
Smith & Wesson September call option implied volatility is at 57, October is at 46, January is at 49; compared to its 52-week range of 26 to 61, suggesting large near term price movement into the expected release of Q1 results on August 27.
06:44 EDTORCLWorkday valuation contingent on competitors in cloud market, WSJ reports
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August 25, 2015
19:16 EDTORCLTV service Hulu to feature programmatic ads powered by Facebook, Oracle
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09:02 EDTATUActuant says CEO Mark Goldstein resigns to pursue other interests
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07:24 EDTORCLRentrak weakness a buying opportunity, says Brean Capital
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August 24, 2015
19:36 EDTGMGeneral Motors ends two-week strike in Brazil, Reuters says
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17:50 EDTGMGeneral Motors denies 3944 of 4343 ignition switch claims
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09:45 EDTGMOn The Fly: Analyst Initiation Summary
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09:18 EDTGMOn The Fly: Pre-market Movers
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08:04 EDTGMGeneral Motors coverage resumed with an Underweight at Morgan Stanley
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06:14 EDTGMGM recalling 59,474 2010 Chevrolet Cobalt vehicles
GM is recalling 59,474 2010 Chevrolet Cobalt vehicles manufactured January 4, 2010, to June 23, 2010. The affected vehicles may be equipped with an improperly routed Side-Impact Sensor wiring harness in the driver side front door. The misrouted wiring harness could cause an electrical short that disables the driver side curtain air bag. A disabled driver side roof-rail air bag will not deploy in the event of a crash necessitating deployment of that air bag, increasing the risk of injury to the driver.
August 23, 2015
18:23 EDTGMGM, Volkswagen slow production at Chinese factories, WSJ says
Auto manufacturers including General Motors (GM) and Volkswagen (VLKAY) appear to be running their Chinese factories at less than maximum capacity for the first time, reports the Wall Street Journal, citing industry data. The numbers suggest that a "bumpier ride" may be in store for multinationals that counted on Chinese demand, said the report. "The situation seems worse than that of 2008," remarked an engineer working at GM's Shanghai plant. Reference Link
17:40 EDTFDXJudge sends FedEx driver lawsuit back to trial court, Bloomberg says
A federal appeals court has sent a dispute over the employment status of FedEx drivers back to trial court, saying a jury must decide whether the drivers are independent contractors or full-fledged employees, reports Bloomberg. The verdict gives FedEx another chance to defend its practices, according to the report. Reference Link
August 21, 2015
06:46 EDTGMGM recalling 5,493 2014-2015 Chevrolet Impala vehicles
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06:34 EDTFDXFedEx to launch EUR 8.00 bid for TNT Express on Aug. 24
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