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Stock Market & Financial Investment News

News Breaks
April 2, 2014
12:10 EDTF, GMNomura starts coverage of GM with Reduce rating
Japanese bank Nomura started research coverage of General Motors (GM) with a Reduce rating, saying that the company is vulnerable to macroeconomic challenges. WHAT'S NEW: With the media focusing on GM's ignition recall controversy, Nomura analyzed the company's fundamental outlook in a note to investors earlier today. The growth of demand for autos in the U.S. market has slowed since last September, while the industry is facing macroeconomic challenges, Nomura analyst Harald Hendrikse warned. GM is more vulnerable than Ford (F) to these macroeconomic challenges, given its plans to raise its profit margins in North America and cut its European losses, the analyst contended. GM's fiscal 2015 earnings per share is likely to be lower than expected, added Hendrikse, who has a $32 price target on the stock. WHAT'S NOTABLE: The analyst initiated Ford with a Neutral rating. Although the automaker also faces macroeconomic challenges it will probably benefit from strong growth in China and the launch of a new F-150 pickup this summer, Hendrikse wrote. Moreover, most of Ford's revenue comes from North America, meaning that its profits won't be greatly impacted by events in other parts of the world, the analyst stated. He set a $15 price target on the stock. PRICE ACTION: Near noon, GM added 25c to $34.59 and Ford shares gained 10c to $16.42.
News For GM;F From The Last 14 Days
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February 2, 2016
16:23 EDTGM, FOn The Fly: Top stock stories for Tuesday
Stocks began the session in negative territory and remained there throughout the entire session. The early weakness was attributed to oil prices, which were down early and never recovered during the day. The losses of more than 5% brings the loss over the past two days to more than 10%, pushing WTI crude back below $30 a barrel and squashing equities in the process. Any hope that oil prices would de-couple from stock prices will have to wait another day as the two continue to move in lockstep with each other. Even a solid earnings report from tech bellwether Alphabet (GOOG) could not help the market. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 1.3% to $780.91 after its better than expected quarterly results were followed by analysts around Wall Street hiking their price targets for shares, including Deutsche Bank analyst Ross Sandler, who raised his target on the parent of Google to $1,080 from $900... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.2% to $74.61 amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8.5% to $29.02 in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Ford (F) shares fell 4.6% after the company reporting that its U.S. sales declined 3% last month versus a year ago. Peer General Motors (GM) slid 1.5% after reporting that its U.S. sales grew 0.5% in January... Dow Chemical (DOW) jumped 5.75% to $45.03 after posting better than expected earnings and revenue. Of note, Dow CEO Andrew Liveris said he plans to transition out of the company when it completes its planned merger with DuPont (DD). MAJOR MOVERS: Among the notable gainers were Michael Kors (KORS) and Mattel (MAT), which rose nearly 24% and almost 14%, respectively, following their earnings reports. Also higher was Pacific Biosciences (PACB), which jumped 24% to $12.67 after Reuters said Roche (RHHBY) has recently approached the company to discuss a potential acquisition. Among the noteworthy losers following earnings were Integrated Device (IDTI), which fell 26.8%, ADT (ADT), which dropped 15.7%, and Royal Caribbean (RCL), which declined 15.2%. INDEXES: The Dow fell 295.64, or 1.8%, to 16,153.54, the Nasdaq lost 103.42, or 2.24%, to 4,516.95, and the S&P 500 declined 36.35, or 1.87%, to 1,903.03.
14:32 EDTGMNotable companies reporting before tomorrow's open
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14:14 EDTGMGeneral Motors technical comments ahead of earnings
The $29 level is an important one for the shares, having held with a few notable exceptions as support since early 2013. If there is negative news and a breakdown below $29, it would be bearish for share price. Support levels to watch as potential downside objectives would be at $28.19, $27.03, and $26.07. The 52-week low is at $24.62. If the news is a positive surprise, resistance levels to watch as potential upside objectives would be at $30.11, $32.10, and $34.
14:11 EDTF, GMAutodata estimates January U.S. auto sales pace at 17.58M, CNBC reports
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13:44 EDTGMGeneral Motors February weekly 29 straddle priced for 4.6% movement into Q4
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12:52 EDTGMGM, counsel ask judge to dismiss bid to undo settlement fund, Reuters says
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12:22 EDTGMEarnings Watch: Analysts positive on General Motors ahead of Q4 report
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12:03 EDTF, GMOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
10:25 EDTFFord: Areas impacted by Jan. storms 'bounced back very strong' at end of month
10:17 EDTFFord sees 2016 U.S. industry volume in 17.5M-18.5M vehicle range
Sees January U.S. industry sales at 1.14M vehicles, down about 2%-3% from a year ago. Says January started "fairly normally," was "pretty slow" mid-month with weather activity, closed month at "very normal healthy pace." Says small SUVs accounted for 1 in 5 industry sales. Says working to fill fleet orders for F-series pickups. Says "looking forward" to another strong 2016. Says outlook for housing this year "positive." Still sees 2016 U.S. industry volume in 17.5M-18.5M vehicle range. Estimates total January industry SAAR in mid-17M unit range including medium and heavy trucks. Comments taken from Ford's January U.S. Sales conference call. Ford is down 1.3% to $11.91 in morning trading.
09:34 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
General Motors said dealers in the United States delivered 203,745 vehicles in January, up 0.5% compared to last year. GM's retail sales rose 9%. The carmaker estimates that the seasonally adjusted annual selling rate for light vehicles in January was 17.5M units. GM ended the month with 74 days supply, or 629,878 vehicles, compared to 630,950 units at the previous month end. GM said, "We believe industry fundamentals such as the age of the vehicle fleet, well managed inventory levels, firm used car pricing, good credit availability and low fuel prices will support higher industry sales in 2016."
09:31 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
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09:16 EDTFFord reports January U.S. sales down 3% to 173,723 vehicles
Ford Motor Company's total U.S. sales of 173,723 vehicles declined 3% last month versus a year ago. Ford SUVs totaled 50,212 sales last month - a 3 percent increase versus a year ago and the brand's best sales start since 2004. The all-new Edge was the biggest driver, posting a 26 percent jump on sales of 9,533 vehicles. Transit sales increased 51 percent in January with 9,631 vehicles sold, lifting overall Ford van performance 20 percent for their best start since 1985.
09:15 EDTFFord reports January U.S. sales down 3% to 173,723 vehicles
07:09 EDTGM, FTrueCar projects U.S. revenue from new vehicle sales reached $38B in January
TrueCar projects U.S. revenue from new vehicle sales reached a record high for the month of January of $38 billion, up 1.4 percent from a year ago. January marked the auto industry's 25th consecutive month of year over year revenue expansion. Higher average transaction prices helped automakers post a $520 million gain in revenue versus January 2015, despite a likely increase in incentive spending and somewhat lower sales compared with a year ago. As previously announced, TrueCar projects sales of new cars and light trucks contracted 0.3 percent last month. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
06:28 EDTGMGM waiting on credit from investors, WSJ says
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February 1, 2016
18:46 EDTF, GMAutomakers hit with additional costs due to China regulatory shift, Reuters says
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13:42 EDTFEarnings Watch: Alphabet to report Q4 results under new corporate structure
Alphabet (GOOG, GOOGL) is expected to report fourth quarter earnings after the market close on Monday, February 1 with a conference call scheduled for 4:30 pm ET. Alphabet is a multinational conglomerate that serves as the parent company of Google, Calico, GV, Google Capital, and Nest Labs. EXPECTATIONS: Analysts are looking for earnings per share of $8.09 on revenue of $20.77B. The consensus range is $7.32-$8.59 for EPS, and $20.33B-$21.68B for revenue, according to First Call. LAST QUARTER: Alphabet reported third quarter EPS of $7.35 against estimates of $7.21, on revenue of $18.7B against estimates of $18.53B. Google reported Q3 aggregate paid clicks up 23%, paid clicks on Google websites down 5%, aggregate cost-per-clicks down 11%, and cost-per-click on Google websites down 4%. The company also reported Q3 Sites revenue up 16% to $13.08B and Q3 Total advertising revenue up 13% to $26.78B. During its Q3 earnings report, the company said it will begin to disclose the Google business as a single segment in Q4. It also announced that the board authorized the company to repurchase $5.1B of Class C shares in Q4. GOOGLE SEGMENT: Alphabet announced that it will report Google as a single segment within its company beginning in Q4. It stated, "The new operating structure is being introduced in phases. For financial reporting purposes, we expect the reorganization will result in disclosing our Google business as a single segment and all other Alphabet businesses combined as Other Bets beginning in the fourth quarter of 2015." Within Alphabet, the Google segment now has 6 products with over 1B users, including Search, Maps, YouTube, Chrome, Android and Google Play. Gmail is also closing in on the mark with its 900M user base. RBC Capital believes that the disclosure of segment results by Google in conjunction with its Q4 results will cause the stock to rerate. The firm believes that the segment results will highlight the high profits of core Google, supporting an increase in the stocks' sum of the parts valuation. NEWS AND STREET RESEARCH: In the past quarter, Alphabet had a strong holiday season with ChannelAdvisor reporting Google Shopping was up 31.7% over the entire holiday period. Specifically, Google Shopping was up 35.9% on Thanksgiving, up 40.3% on Black Friday, up 25.7% on Cyber Saturday, and up 18.6% on Cyber Monday. Alphabet announced the redesigned launch of Google+ in November, the exploration of Fiber in Chicago and Los Angeles, and announced plans to open its first retail store in New York City. The company also targets the China launch of the Google Play app store in 2016, according to multiple reports. Lenovo (LNVGY) CEO Chen Xudong confirmed that Google Play is expected to come to China at some point this year. The company is expected to make its self-driving car company under the Alphabet structure as a stand-alone business. Ford (F) and Google are in discussions over self-driving cars, with the currently negotiated contract likely to "last a long time." According to a Reuters report, Google expects fewer software failiures in self-driving cars as it learns from its mistakes. Google tested solar-powered Internet drones and expects consumer package delivery via drone to begin in 2017. Google is also in talks with the NFL for streaming rights for London games next year. STREET RESEARCH: Oppenheimer said cloud providers like Alphabet may have a huge opportunity in the coming years. The firm said Alphabet may look for a major partner like Salesforce (CRM) to drive its cloud business. Cantor said Google ad revenue growth should continue to be strong and BMO Capital said Alphabet's outlook has improved as valuation has become more reasonable. Bernstein said the Street continues to underestimate the resilience and growth potential of Alphabet's search ad business and YouTube. Barron's, in particular, was extremely positive on YouTube, saying its revenue per viewer could potentially double in five years. It added it could be twice as valuable as Netflix (NFLX). JMP Securities was also bullish on the company, saying Alphabet benefitted from a relatively strong holiday season for online advertising. Ahead of its Q4 earnings report, JMP Securities expects the company to report "relatively strong" results. PRICE ACTION: Google shares have gained about 6% over the last three months. In Monday afternoon trading ahead of the Q4 report, Google shares are up almost 2%
13:24 EDTFTesla bull cuts target as competition ramps more quickly than new models
Shares of Tesla (TSLA) dipped significantly in early trading before later rebounding after Morgan Stanley cut its price target on the automaker to $333 from its previous $450, with the research firm citing a slow production ramp for its new car models, potentially weakened consumer demand amid cheap oil, and clearly heightening competition in the electric and autonomous vehicle space. LOW DEMAND, MORE COMPETITION: Morgan Stanley analyst Adam Jones cut his price target on Tesla to $333 from $450, arguing Monday that the carmaker is facing a slow production ramp for the Model X as well as the Model 3, which Jones said may launch in late 2018, missing the company's internal target by at least one year. It is reasonable to assume, Jones said, that Tesla is taking a deliberate, quality-conscious pace for Model X production while also shuffling personnel to help with the car's early rollout, impacting the launch of the mass-market Model 3 even as the company grapples with potentially reduced consumer demand in today's cheap oil environment. Given his assumption of lower volumes, the analyst's revised his 2020 forecast for complete vehicle deliveries to less than half of Tesla's own 500,000 target. For 2016, the analyst cut his total delivery forecast 2% to roughly 70,000 units, including a revision of Model X expectations to 15,000 from 18,500. Contributing to Tesla's headwinds, its consumer energy storage solution looks to be more expensive than previously thought, while competition in the shared and autonomous mobility arena has increased markedly. Indeed, competing efforts from Ford (F), Volkswagen (VLKAY), Alphabet (GOOG) and many others appear "genuine" and are likely to see significant investment follow-through, potentially pressuring Tesla's margins as it increases R&D spend to keep pace, Jones argued. That said, the analyst keeps an Overweight rating on the shares, explaining that while Tesla remains a high risk name that burns plenty of cash to fuel its ambitious plans, it may still be the best positioned company in the ongoing "Auto 2.0" transition. PRICE ACTION: After quickly dropping as low as $182.75 in early trading, shares of Tesla are now up 2.6% to $196.14 in afternoon trading.
10:02 EDTGMGeneral Motors volatility elevated into Q4 and outlook
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