New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 4, 2014
12:36 EDTNQ, COH, FSLR, FCEL, GMOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite a number of disappointing economic reports. Payroll provider ADP estimated that 179K new jobs were added last month, but that was below expectations. The trade balance report showed that the U.S. had its largest deficit in two years during April as exports slowed and imports surged. Non-farm productivity for the first quarter was also downwardly revised by more than expected. The lone bright spot were non-manufacturing reports from ISM and Markit. Despite all the negative data points, the market has drifted its way back into positive territory and was just north of the flat line near noon. ECONOMIC EVENTS: In the U.S., ADP reported private payrolls increased 179k in May, which was below the consensus forecast for 210K job additions. The U.S. trade deficit widened to $47.2B in April from $44.2B in March. Q1 productivity growth was revised lower to (3.2%), versus (1.7%) initially and expectations for a reduction to (3.1%.). Markit's services PMI rose to 58.1 in May from 55.0 in April, while ISM's services index rose to 56.3 in May from a reading of 55.2 last month. COMPANY NEWS: General Motors (GM) shares were up about 4% near noon after the company confirmed it will provide an update on its ignition switch recall investigation, followed by a press conference hosted by CEO Mary Barra, tomorrow. MAJOR MOVERS: Among the notable gainers was NQ Mobile (NQ), which jumped 38% after the company reported that its special committee's independent investigation did not find any evidence that the company had engaged in the fraudulent conduct alleged by Muddy Waters. Carson Block of Muddy Waters said in an emailed statement to Bloomberg that NQ Mobile is "unequivocally a fraud" and the company's press release today was "whitewash." Also higher was First Solar (FSLR), which rose 6% amid a number of headlines. The Department of Commerce announced its affirmative preliminary determination in a countervailing duty investigation of imports of certain solar power products from China, which Credit Suisse called positive for U.S. developers, the company agreed to buy Europe's skytron-energy, and a hearing on First Solar's challenge of an Indian government dumping determination was reportedly deferred to July. Among the noteworthy losers was FuelCell (FCEL), which dropped 8% after the company reported second quarter losses and revenue that were worse than analysts' consensus estimate. Also lower were shares of luxury products retailer Coach (COH), which slipped 2% after research firm Sterne Agee lowered its rating on the stock to Neutral from Buy in a note to investors earlier today. INDEXES: Near midday, the Dow was up 7.04, or 0.04%, to 16,729.38, the Nasdaq was up 17.68, or 0.42%, to 4,251.76, and the S&P 500 was up 2.75, or 0.14%, to 1,926.99.
News For GM;FSLR;NQ;FCEL;COH From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
November 23, 2015
06:24 EDTGMGM uses KBB to offer targeted incentives, Automotive News reports
General Motors has turned to Kelley Blue Book's website to offer targeted incentives to customers, Automotive News reports. Reference Link
November 22, 2015
18:46 EDTGMUAW union ratifies General Motors agreement
The United Auto Workers announced that its international executive board has formally ratified the national labor agreement with General Motors. The union explained that, after its proposed agreement with GM was blocked by the union's skilled trades members, it held meetings with those members and subsequently presented their concerns to both union leadership and GM itself. Following those discussions, the parties agreed to changes that "protect core trades classifications and seniority rights," according to UAW. Reference Link
November 19, 2015
10:32 EDTFCELFuelCell commences expansion of North American manufacturing facility
Subscribe for More Information
07:55 EDTGMGM's Reuss: Company 'deeply committed' to EVs, FT says
Subscribe for More Information
November 18, 2015
09:32 EDTGMThe House Oversight & Government Reform Committee to hold a hearing
Subscribe for More Information
07:57 EDTGMBarclays to hold a conference
Subscribe for More Information
06:58 EDTNQNQ Mobile enters into binding agreement to sell Beijing Tianya
NQ Mobile announced it has entered into a legally binding agreement to sell 100% of the equity interest in Beijing Tianya , which operates NQ Mobile's mobile health applications related business, to Tack Fiori International Group, a Cayman Islands company listed in Hong Kong, for an aggregate consideration of $40M. Beijing Tianya is a wholly owned subsidiary of Beijing NQ Technology Co., Ltd., NQ Mobile's consolidated affiliated entity in China. The company's board has approved both the transaction and the Agreement. The closing of the transaction is subject to the condition that Tack Fiori obtains the necessary approvals, including shareholder approval, to complete the transaction, as well as additional customary closing conditions, and the satisfaction and compliance of all relevant requirements under the Rules Governing the Listing of Securities on the Hong Kong Stock Exchange Limited.
November 17, 2015
13:29 EDTFSLRSunEdison selloff continues, shares down 23%
Shares of SunEdison (SUNE) continue to be weak and are down 23% to $3.49 in afternoon trading. Dan Loeb's Third Point last night disclosed it no longer owns the stock while David Einhorn's Greenlight Capital disclosed a reduced stake. Deutsche Bank analyst Vishal Shah lowered his price target for SunEdison this morning to $16 saying language in Vivint Solar's (VSLR) quarterly filing around SunEdison debt financing could concern some investors. SunEdison's solar peers are also weak, with SunPower (SPWR), First Solar (FSLR) and SolarCity (SCTY) all in the red.
09:12 EDTFCELUIL Holdings finalizes deal with Woodbridge
Subscribe for More Information
08:03 EDTFSLRSolar module makers outlook positive, says Bernstein
Subscribe for More Information
November 16, 2015
11:30 EDTFSLRLoeb exits SunEdison while Deutsche says liquidity worries overdone
Deutsche Bank said that investors' fears that SunEdison (SUNE) will run out of liquidity are unfounded, as the solar energy company is not poised to suffer any liquidity events. Meanwhile, quarterly filings are showing that several prominent hedge funds have exited or trimmed their stakes in SunEdison and another firm downgraded the shares of a SunEdison subsidiary. LIQUIDITY WORRIES OVERDONE: Investors are worried about SunEdison's liquidity, but these fears are overdone, wrote Deutsche Bank analyst Vishai Shah. Only about $3B of the company's total $12B debt consists of recourse loans, the analyst stated. Additionally, in the near-term, investors are primarily worried about a $510M payment that SunEdison has to make in connection with its acquisition of the company Wind Energy, according to the analyst. Although SunEdison will not be able to sell its wind projects to TerraForm (TERP) due to the "disarray" of alternative energy financing markets, SunEdison will instead drop the projects into one of its warehouses, enabling it to recognize cash margins for the projects, the analyst explained. Additionally, the interest owed by SunEdison's project development company will only amount to about $150M, versus the $210M per quarter shown on its income statement, Shah stated. The discrepancy is due to the consolidation of its subsidiaries and the non-recourse debt it holds, he explained. Shah kept a $28 price target and Buy rating on SunEdison shares. HEDGE FUND UPDATES: Leon Cooperman's Omega Advisors lowered its stake in SunEdison last quarter, while Dan Loeb's Third Point sold its entire stake in the solar energy company last quarter, their quarterly filings disclosing their positions as of September 30 revealed. TERRAFORM DOWNGRADE: There is "substantial doubt" about TeraForm's ability to profitably buy assets from SunEdison or third parties, according to UBS analyst Julien Dumoulin-Smith. The analyst said he reached this conclusion because of TeraForm's 10%+ dividend yield and deteriorating balance sheet. Given the yieldco's recently revealed need to invest significantly more capital in projects than expected, its balance sheet will be more stressed than he had predicted, the analyst explained. Dumoulin-Smith lowered his price target on TerraForm to $14 from $30 and downgraded the stock to Neutral from Buy. ANOTHER TO WATCH: After meeting with First Solar's (FSLR) management last week, Shah wrote today that he was more confident about the company's upcoming products and earnings. Although investors are concerned about the company's 2017 earnings outlook, its 2017 earnings should grow to over $4 per share that year, he believes. Among the factors that will increase First Solar's profits are cost reductions, capacity expansion, and strong backlog growth, he believes. Shah kept a Buy rating on the shares. PRICE ACTION: In late morning trading, SunEdison fell 8% to $4.53, TerraForm sank 9% to $12.56 after earlier reaching a 52-week low of $12.51 earlier in the session and First Solar was fractionally higher at $52.90.
09:59 EDTGMOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
07:36 EDTGMBerkshire Hathaway discloses new AT&T stake in quarterly update
Berkshire Hathaway gave a quarterly update on its stakes in a filing this morning. NEW STAKES: AT&T (T), Kraft Heinz (KHC), Liberty Lilac Group (LILA). INCREASED STAKES: Phillips 66 (PSX), Charter (CHTR), Liberty Media (LMCK), Suncor (SU), General Motors (GM). DECREASED STAKES: Goldman Sachs (GS), Wal-Mart (WMT), Deere (DE), Chicago Bridge & Iron (CBI), WABCO (WBC). LIQUIDATED STAKES: Viacom (VIAB).
November 15, 2015
17:25 EDTGMUAW union in talks with General Motors regarding proposed agreement
Subscribe for More Information
November 13, 2015
16:40 EDTGMAppaloosa gives quarterly update on stakes
Subscribe for More Information
12:34 EDTGMCaterpillar, General Motors, Altria Group are market beaters, Barron's says
Subscribe for More Information
November 12, 2015
12:41 EDTGMGM preparing to sell Chinese-made Buick in the U.S., WSJ reports
Subscribe for More Information
07:43 EDTFSLRFirst Solar management to meet with Deutsche Bank
Subscribe for More Information
06:43 EDTGMGM to build fuel cell vehicle for U.S. Army, Automotive News says
Subscribe for More Information

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use