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Stock Market & Financial Investment News

News For GM;FDX;ORCL;GIS;RMCF;BTH;KCG;NAV;AA;ONTY From The Last 14 Days
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March 30, 2015
12:43 EDTORCLOracle rating hiked by RBC citing improved cloud outlook
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10:00 EDTORCLOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: BHP Billiton (BHP) upgraded to Outperformer from Sector Performer at CIBC...Analog Devices (ADI) upgraded to Overweight from Equal Weight at Barclays... Continental Resources (CLR) upgraded to Buy from Hold at Societe Generale... FirstEnergy (FE) upgraded to Overweight from Equal Weight at Barclays... Madison Square Garden (MSG) upgraded to Buy from Hold at Topeka... Madison Square Garden upgraded to Overweight at Morgan Stanley... Nike (NKE) upgraded to Outperform from Neutral at RW Baird.... Restoration Hardware (RH) upgraded to Buy from Neutral at Goldman... Wolverine World Wide (WWW) upgraded to Outperform from Neutral at RW Baird... Transocean (RIG) upgraded to Neutral from Reduce at Global Hunter... Oracle (ORCL) upgraded to Outperform from Sector Perform at RBC Capital... Hertz (HTZ) upgraded to Equal Weight from Underweight at Morgan Stanley... Kraft Foods (KRFT) upgraded to Buy from Hold at Canaccord... GoPro (GPRO) upgraded to Buy from Neutral at Dougherty... Tetra Technologies (TTI) upgraded to Outperform from Sector Perform at Scotia Howard Weil.
08:57 EDTGMGeneral Motors to unveil car that uses new building approach, Reuters says
GM is set to unveil its new Cadillac CT6 vehicle tomorrow, and the car is the largest vehicle to date that will use the automaker's new approach to building cars, according to Reuters. Based on using a mix of materials that enable large cars to meet fuel economy standards, the new approach will be used on at least four other future vehicles, Reuters quoted the chief engineer of the CT6 as saying. Reference Link
08:06 EDTAAAlcoa to curtail smelting capacity in Brazil, sees Q1 charge of 1c per share
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08:03 EDTAAAlcoa to curtail smelting capacity in Brazil, sees Q1 charge of 1c
07:57 EDTORCLOracle upgraded at RBC Capital
As noted earlier, RBC Capital upgraded Oracle to Outperform from Sector Perform. As reasons for the upgrade, the firm cited its increased confidence in the company's cloud growth and its belief that the fundamentals of the company's database business can improve over the next 12-18 months as 12C adoption accelerates. Target to $50 from $48.
07:50 EDTORCLOracle upgraded to Outperform from Sector Perform at RBC Capital
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March 27, 2015
14:55 EDTGMGeneral Motors weekly volatility at low end of historic range
General Motors April weekly call option implied volatility is at 22, April is at 20, May is at 21, June is at 22; compared to its 26-week average of 24 according to Track Data, suggesting decreasing price movement.
07:52 EDTAAAlcoa April volatility elevated into Q1 and outlook
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07:06 EDTORCLOracle has best chance of success in cloud, says Cantor
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March 26, 2015
14:19 EDTGMGM expects North American Malibu sales to surge, Reuters reports
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07:22 EDTGMGeneral Motors near-term risk/reward favorable, says Deutsche Bank
After speaking with management, Deutsche Bank thinks General Motors' presentation to investors next week will be relatively upbeat. Deutsche believes GM is benefitting from mix and price in North America, mix in consolidated Asia, and raw material costs. It views the near-term risk/reward on shares as favorable, but keeps a Hold rating on the name.
March 25, 2015
14:25 EDTORCLOracle volatility at low end of history range as shares near 15-year high
Oracle April and May call option implied volatility is at 17, September is at 18; compared to its 26-week average of 22 according to Track Data suggesting decreasing price risk.
14:14 EDTORCLOracle EVP says Ellison has lost voice, Bloomberg reports
Bloomberg cites Oracle EVP Bob Weiler commenting on Chairman Larry Ellison. Bloomberg reported earlier that Ellison cancelled his planned presentation at the company's Industry Connect conference.
13:57 EDTORCLOracle Chairman Ellison cancels presentation, Bloomberg reports
Oracle Chairman Larry Ellison cancelled his planned presentation at the company's Industry Connect conference, Bloomberg reports.
10:43 EDTGISFood makers advance after Kraft, Heinz announce merger
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March 24, 2015
15:37 EDTNAVGabelli raises stake in Navistar to 12.3% from 11.21%
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09:38 EDTAAActive equity options trading on open
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08:44 EDTNAVCommercial vehicles peak cycle concerns overdone, says RW Baird
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08:41 EDTGMGeneral Motors capacity hampering sales growth, says Credit Suisse
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06:18 EDTGMGM to build next-gen Chevrolet Cruze in Coahuila, Mexico, Reuters reports
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06:12 EDTGMFord, GM considering asking for lower-paid workers, Bloomberg says
Ford (F) and General Motors (GM) are considering asking the United Auto Workers union to create a lower-pay tier of employee at U.S. auto factories, reports Bloomberg, citing people familiar with the matter. The union, on the other hand, is considering eliminating the existing tier structure altogether, according to a person familiar with the union leadership. The proposed lower tier worker would not assemble cars, said the sources. Reference Link
March 23, 2015
11:22 EDTORCLOptions with decreasing implied volatility
Options with decreasing implied volatility: FOLD NKTR RUSL XONE GES CTRP WSM NLY ADBE ORCL
11:11 EDTGMGM ignition switch death claims rises to 74, WSJ reports
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09:04 EDTFDXFedEx weakness creates buying opportunity, says Argus
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07:37 EDTGMVolkswagen to cut at least 150 workers at Russian plant, Reuters reports
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March 20, 2015
16:33 EDTFDX, ORCLStocks end week higher after market reads Fed statement as dovish
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10:45 EDTFDXFedEx management to meet with Stephens
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10:18 EDTORCLOptions with decreasing implied volatility
Options with decreasing implied volatility: NKTR FOLD RUSL RSX ORCL GES CTRP SLXP WSM SPXS
08:01 EDTGMStifel says evidence supports Apple moving into electric vehicles
Analysts at Stifel say they see enough evidence to suggest that Apple is internally working on the development of a battery electric vehicle to be sold over the next five-to-ten years. The analysts are "intrigued" by Apple CFO Luca Maestri's background at General Motors (GM). They believe Apple's investments in manufacturing should be a key consideration for investors and point out the $40B spent by the iPhone maker over the past five years, with 80%-plus invested in manufacturing, is similar to GM, Ford (F) and Daimler-Benz and well above Tesla's $1.8B cumulative capex. The analysts say there is a "lot to think about" regarding Apple's move into the car space, including the regulatory environment. They keep a Buy rating on the tech giant with a $150 price target. Shares of Apple closed yesterday down 97c to $127.50.
06:22 EDTGMGM CEO to be questioned October 8 over ignition failures, AP says
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06:13 EDTFDXFedEx says paid $1.4B for GENCO, $43M for Bongo international
In its quarterly report with the SEC, FedEx says, "During 3Q15, we acquired two businesses, expanding our portfolio in e-commerce and supply chain solutions. On January 30, we acquired GENCO Distribution System for $1.4B, which was funded using a portion of the proceeds from our January debt issuance. In addition, on December 16, 2014, FedEx acquired Bongo International, LLC for $42M in cash from operations. These acquisitions will allow us to enter new markets, as well as strengthen our current service offerings to existing customers. We expect that the goodwill of $40M associated with our Bongo acquisition will be entirely attributable to our FedEx Express reporting unit. We expect that the goodwill of approximately $1.1B associated with our GENCO acquisition will be primarily attributable to our FedEx Ground and FedEx Express reporting units."
March 19, 2015
11:39 EDTNAVNavistar management to meet with Jefferies
Meeting to be held in Louisville, KY on March 25 hosted by Jefferies.
10:42 EDTORCLOptions with decreasing implied volatility
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10:16 EDTAAAlcoa falls, levels to watch
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07:38 EDTFDXFedEx execution solid, outlook still upbeat, says Oppenheimer
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07:17 EDTFDXFedEx soft Q4 guidance explainable, says UBS
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06:01 EDTFDXFedEx CEO doesn't see Uber as a threat, WSJ reports
FedEx CEO Fred Smith says that while he believes Uber is "terrific," he doesn't see the ride-sharing start-up ever becoming a major threat in package delivery, The Wall Street Journal reports. Reference Link
March 18, 2015
16:26 EDTORCL, FDXOn The Fly: Closing Wrap
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12:38 EDTORCL, FDXOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday ahead of the conclusion of the Federal Reserve's latest rate setting meeting and the central bank's accompanying announcements. The averages began the session in negative territory and have been range-bound throughout the morning. The Dow was down triple digits once again, making 8 consecutive days that the blue chip index has seen a triple digit move. ECONOMIC EVENTS: In the U.S., the DOE petroleum inventory reports showed a 9.6M barrel rise in crude stocks in the week of March 13, versus expectations for a 4.4M build. The day's big economic news is yet to come, with the Fed's FOMC meeting announcement due at 2:00 pm EDT and Fed Chair Yellen holding a press conference a half hour later. Elsewhere, Prime Minister Benjamin Netanyahu unexpectedly defeated his main challenger in Israel’s election and his Likud party appears set to capture more parliament seats. COMPANY NEWS: Shares of FedEx (FDX) slid 2.5% after the shipping giant reported earnings that beat estimates, but revenue that fell short of the consensus forecast, for its third fiscal quarter. FedEx noted that it expects to deliver "record" yearly earnings for the current fiscal year and next fiscal year as well... Oracle (ORCL) shares rose 2.5% after the company's third quarter profits matched expectations and it raised its quarterly dividend 25%. MAJOR MOVERS: Among the notable gainers was Vitesse Semiconductor (VTSS), which jumped 37% after the company agreed to be acquired for $5.28 per share in cash by Microsemi (MSCC). Also higher was Retrophin (RTRX), which rose 28% after the company said it will exercise its right to purchase from Asklepion Pharmaceuticals all worldwide rights, titles, and ownership of Cholbam after the FDA approved the drug for the treatment of pediatric and adult patients with bile acid synthesis disorders due to single enzyme defects and for patients with peroxisomal disorders. Among the noteworthy losers was Willbros Group (WG), which dropped 55% and was downgraded to Underperform at DA Davidson after announcing its earnings report will be delayed and the company is in potential non-compliance with debt covenants. Also lower following their earnings reports were Nektar Therapeutics (NKTR), which fell 15% after the company's Phase III BEACON metastatic breast cancer study missed its primary endpoint. INDEXES: Near midday, the Dow was down 105.02, or 0.59%, to 17,744.06, the Nasdaq was down 12.45, or 0.25%, to 4,924.99, and the S&P 500 was down 7.69, or 0.37%, to 2,066.59.
10:02 EDTORCLOracle moves higher post-earnings, levels to watch
Shares are up 4.4% to $44.76 at time of writing, just off the high of the day at $44.94. At that price next resistance is at the 52-week high at $46.71. Support is at $44.30, the opening price of the day.
10:00 EDTNAVOn The Fly: Analyst Downgrade Summary
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09:35 EDTFDXFedEx says not defering plane deliveries due to low fuel costs
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09:24 EDTGISGeneral Mills says continually reviews portfolio
09:23 EDTORCL, FDXOn The Fly: Pre-market Movers
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09:11 EDTGISGeneral Mills says believes in long-term growth model outlined at CAGNY
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09:09 EDTFDXFedEx CFO says 'not ruling out' larger buybacks, currently buying 'steadily'
FedEx CFO Alan Graf said on the company's Q3 call, in response to a question about the company's balance sheet and taking on debt, that he "couldn't help" himself on taking on more debt than needed for Genco since "rates were so good" that FedEx could take advantage of what is in a sense "essentially free equity." Graf added that he is "not ruling out" further, larger buybacks, but at the moment FedEx is "steadily" buying back shares to prevent dilution.
09:04 EDTGISGeneral Mills says roughly 95% covered on commodity needs for FY
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09:03 EDTFDXFedEx says 400K share bought back during Q3
FedEx noted on its Q3 call that it did continue its stock buyback during the quarter and bought 400,000 shares back and that it plans to continue to buyback shares to prevent dilution from compensation programs. The company said its capital plan "remains steady as she goes, with expansion at Ground continuing. Ground's "substantial" CapEx is needed to continue to build automated hubs and satellites to handle the additional traffic that the company is expecting, FedEx executives noted.
08:57 EDTFDXFedEx says too early to talk about significant shifts in trade due to dollar
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08:54 EDTFDXFedEx CFO says company projecting 'record' earnings again for FY16
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08:40 EDTGISGeneral Mills says to cut 800 jobs primarily in the U.S.
The company said earlier that "During Q2, we approved Project Catalyst, a restructuring plan to increase organizational effectiveness and reduce overhead expense. In connection with this project, we expect to eliminate approximately 800 positions primarily in the United States. We expect to incur approximately $146M of net expenses relating to these actions of which approximately $127M will be cash. We expect these actions to be largely completed by the end of fiscal 2015."
08:40 EDTFDXFedEx sees U.S. GDP to grow 3.1% in 2015, 2016
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08:37 EDTGMGeneral Motors says to change business model in Russia
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08:36 EDTGMGeneral Motors says to idle auto plant in St. Petersburg
08:35 EDTNAVNavistar downgraded to Underweight from Equal Weight at Morgan Stanley
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08:21 EDTGISGeneral Mills sees double digit adjusted EPS growth in Q4
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07:42 EDTORCLOracle remains a favorite large-cap value stock, says Canaccord
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07:36 EDTFDXFedEx says Ground average daily volume grew 7% in Q3
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07:35 EDTFDXFedEx says expects to deliver 'record' Q4, FY earnings
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07:35 EDTFDXFedEx says share repurchases had 11c y/y positive impact on Q3 EPS
07:33 EDTFDXFedEx CEO says company had 'very successful' peak season
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07:32 EDTFDXFedEx reports Q3 FedEx Express segment revenue $6.66B
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07:31 EDTFDXFedEx sees FY15 EPS $8.80-$8.95, consensus $8.87
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07:30 EDTFDXFedEx reports Q3 EPS $2.01, consensus $1.87
Reports Q3 revenue $11.7B, consensus $11.79B.
07:25 EDTORCLOracle sentiment should improve following Q3 results, says UBS
UBS noted Oracle reported solid Q3 results, including growth in cloud, infrastructure, and hardware. The results came despite foreign exchange headwinds and the firm now sees investor sentiment improving, resulting in a higher share price. UBS reiterated its Buy rating and raised its price target to $48 from $47 on Oracle shares.
07:18 EDTKCGWells Fargo to hold a forum
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07:01 EDTORCLOracle reported solid results, executing well, says Cantor
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07:01 EDTGISGeneral Mills backs FY15 EPS view of growth at low-single-digit rate from $2.82
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06:58 EDTGISGeneral Mills reports Q3 adjusted EPS 70c, consensus 67c
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06:33 EDTNAVNavistar downgraded to Underweight from Equal Weight at Morgan Stanley
06:04 EDTORCLOracle implied volatility of 30 at upper end of index
March 17, 2015
19:42 EDTORCLOn The Fly: After Hours Movers
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17:32 EDTORCLOracle says cloud bookings now growing 100% per year
17:30 EDTORCLOracle says will outsell Salesforce.com in new SaaS, PaaS business this year
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17:24 EDTORCLOracle says growing faster than Salesforce.com
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17:18 EDTORCLOracle sees Q4 EPS in constant currency 90c-96c, consensus 94c
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17:06 EDTORCLOracle up 3.38% after reporting Q3 financial results
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17:05 EDTORCLOracle Q3 Software and Cloud revenue up 7% in constant currency
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16:09 EDTORCLOracle says total Cloud SaaS, PaaS and IaaS revenues were up 33%
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16:05 EDTORCLOracle raises quarterly dividend 25% to 15c per share
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16:03 EDTORCLOracle says Q3 Software and Cloud revenues up 1% to $7.2B
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16:02 EDTORCLOracle reports Q3 EPS 68c, consensus 68c
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15:25 EDTGISGeneral Mills technical notes before results
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15:18 EDTGIS, FDXNotable companies reporting before tomorrow's open
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15:18 EDTORCLNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Oracle (ORCL), consensus 68c... Adobe (ADBE), consensus 39c.
15:03 EDTORCLWipro takes minority stake in Drivestream
Wipro (WIT) and Drivestream announced that they have signed an agreement to enter into a strategic partnership to build an integrated Cloud Solutions stack for customers. As part of this arrangement, Wipro is investing $5M in Drivestream, a leading Oracle (ORCL) cloud applications systems integrator. This is part of Wipro’s strategic drive to actively participate in the external innovation eco-system, for which the company has set up Wipro Ventures, a $100M fund focused on investing in disruptive start-ups.
14:57 EDTGISGeneral Mills March volatility elevated into Q4 and outlook
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14:38 EDTFDXFedEx technical comments ahead of earnings
The shares have been trading in a range largely bound by $170 at the low and $180 at the high since December of last year. So well-defined is the range that the 50-day moving average has gone flat, neatly bisecting the range at $174.63. These bounds may help us better understand where the shares may move following results. A breakout above $180 on strong news or outlook would resolve this range bullishly. The life high at $183.51 would very likely be tested, opening up a run to the $185 to $190 area. When ranges resolve, they tend to exhibit strong price reactions which could easily exceed the reaction expected by straddle pricing. On neutral news, the stock may fall near the 50-day moving average. If the news is a bearish surprise, we could expect the low of the range to be tested at the $170 area. It would take a break below that range low to turn the trend to bearish. Next support in that event would be at $167.62.
14:35 EDTAAAlcoa to curtail 443,000 mtpy of alumina refining capacity at Suralco
Lightweight metals leader Alcoa announced that it plans to curtail 443,000 metric tons per year of alumina refining capacity at Suralco in Suriname. In addition, the company and the Government of Suriname have agreed to pursue a transaction for a Government-owned entity to acquire the Suralco operations. The curtailment and potential transaction are in line with Alcoa’s recent announcement to review upstream capacity for possible curtailment or divestiture and the company’s strategic goal to create a globally competitive commodity business. The curtailment, which represents one digester, is expected to be complete by April 30. Both parties now intend to pursue a transaction where a Government-owned entity would acquire Suralco, including the mining, refining and Afobaka hydroelectric operations. Following the appropriate due diligence, the parties are targeting to reach agreement on the proposed transaction by July 1. The company will work closely with unions and employees to reduce the impact of the curtailment on affected employees by offering fair severance packages. The Paranam refinery and related mining operations employ approximately 700 people, in addition to contracted personnel. The net financial impact associated with the curtailment is not expected to be material to the company’s earnings.
14:28 EDTFDXFedEx March 177 straddle priced for 3.6% movement into Q3
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14:13 EDTGMMorgan Stanley questions GM capital allocation plan
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13:15 EDTORCLOracle March 43.5 straddle priced for 5.1% movement into Q3
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09:34 EDTAAActive equity options trading on open
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08:34 EDTFDXFedEx March volatility elevated into Q3 and outlook
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08:05 EDTGMGeneral Motors coverage resumed with an Underweight at Morgan Stanley
Morgan Stanley reinstated General Motors with an Underweight and $28 price target. The firm believes GM's agreement to accelerate capital returns to investors is a popular short-term decision but raises questions longer-term by increasing both financial and strategic risks.
07:08 EDTAAAlcoa weakness creates buying opportunity, says Stifel
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06:23 EDTGMGM employees to be deposed for class action case, NY Times says
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March 16, 2015
16:00 EDTAAOptions Update; March 16, 2015
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12:36 EDTORCLOracle March volatility increases into Q3 and outlook
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11:06 EDTGMGM ignition switch death claims rises to 67, WSJ says
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07:32 EDTORCLUBM Tech to hold a conference
Enterprise Connect 2015 is being held in Orlando, Florida on March 16-19.
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