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Stock Market & Financial Investment News

News Breaks
February 16, 2012
12:22 EDTGM, ITRI, AEA, SJM, HDY, AMZN, NTAP, TRW, NILEOn The Fly: Mid-Day Wrap
Stocks on Wall Street were higher at mid-day, following some encouraging domestic economic data. The futures began the day below fair value and the market looked as if the selling would continue from yesterday. The futures moved off their lows but still closed in negative territory, even after better than expected data on jobless claims and housing start. The market opened flat but began to drift higher. The averages continued their upward momentum following the better than expected Philadelphia Fed Manufacturing report. The averages now stand at session highs in what has been a slow, methodical recapture of almost all of yesterday’s losses... ECONOMIC EVENTS: Domestically, 348,000 weekly initial jobless claims were reported, which was below the expected 365,000. The producer price index for January inched up 0.1%, versus the expected increase of 0.4%. However, "core" PPI, minus food and energy, rose 0.4%, versus the expected increase of 0.2%. There were 699,000 housing starts versus the expected 675,000, and 676,000 building permits versus the expected 680,000. The Philadelphia Manufacturing Index was released with a reading of 10.2, beating the expected reading of 9.0. Also of note but largely ignored in today's trading, last night Moody's warned that it may lower the credit ratings of 17 global and 114 European financial institutions, citing the ongoing euro zone debt crisis... MARKET NEWS: Sales and profits at General Motors (GM) missed estimates, as its strong U.S. performance was weighed on by losses in Europe and South America. Still, shares advanced over 6%, as the company expressed confidence in its ability to increase top-line revenue this year... Among others reporting earnings, NetApp (NTAP) and TRW Automotive (TRW) advanced, while Avis Budget (CAR) and Blue Nile (NILE) declined... Amazon.com (AMZN) traded lower following a downgrade at Morgan Stanley... MAJOR MOVERS: Among the notable gainers was Itron (ITRI), after receiving at least three upgrades following its earnings, guidance, and acquisition news, and Advance America (AEA), on news it will be acquired by Grupo Elektra for $10.50 per share. Noteworthy losers included J.M. Smucker (SJM), following its weaker than expected results and cautious comments, and Hyperdynamics (HDY), after saying a well offshore Guinea may have had larger volumes of oil previously but the oil reserves formerly present may have since leaked out... INDICES: Near noon, the Dow was up 103.46, or 0.81%, to 12,884.41; the Nasdaq was up 26.56, or 0.91%, to 2,942.39; and the S&P 500 was up 10.65, or 0.79%, to 1,353.88.
News For GM;ITRI;AEA;SJM;HDY;AMZN;NTAP;TRW;NILE From The Last 14 Days
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September 4, 2014
09:35 EDTAMZNActive equity options trading on open
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08:27 EDTGMGeneral Motors and General Motors Financial enter into support agreement
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07:52 EDTAMZNAmazon.com well-positioned to beat 2015 profit expectations, says Bernstein
Bernstein expects Amazon.com's 2015 profits and margins to beat expectations, driven by batter than expected category mix shift and greater scale. The firm raised its price target on the stock to $450 from $360 and keeps an Outperform rating on the shares.
07:34 EDTSJMJ.M. Smucker acquires Sahale Snacks from Palladium Equity Partners
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07:14 EDTGMElectric cars share of total U.S. market stalled, LA Times reports
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06:22 EDTAMZNeBay to meet PayPal estimates despite competition, says Piper Jaffray
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06:02 EDTGMGM supplier Magna begins construction on new Tennessee facility
Magna International (MGA) yesterday announced that it has started construction on a new, state-of-the-art manufacturing facility located in Spring Hill, Tennessee. The 122,500-square-foot facility will manufacture complete seat assemblies supplying General Motors' (GM) Spring Hill Assembly Plant. The plant will be fully operational in January 2015. The new facility becomes Magna's fifth location in Tennessee and is expected to employ approximately 75 people when it begins production next year.
September 3, 2014
15:14 EDTTRWTRW sale possible as ZF restarts talks to exit JV with Bosch, Bloomberg says
ZF Friedrichshafen AG is rekindling talks to exit its joint venture with Robert Bosch as it seeks to takeover TRW Automotive, Bloomberg reports, citing people with knowledge of the matter. ZF plans to begin negotiations with Bosch this week as it attempts to avoid antitrust issues regarding the takeover of TRW, the people added. Reference Link
14:57 EDTTRWTRW calls active on sale possible as soon as next week, report
TRW September 100 and 105 calls are active on total call volume of 4K contracts (2K puts) on sale possible as soon as next week as ZF in jv exit talks, Bloomberg says. September call option implied volatility is at 33, October is at 31, January is at 18; compared to its 26-week average of 25 according to Track Data. Active call volume suggests large near term price movement.
14:43 EDTTRWTRW Automotive jumps 3% after Bloomberg report on ZF deal possibly nearing
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14:43 EDTTRWTRW sale possible as soon as next week as ZF in jv exit talks, Bloomberg says
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13:50 EDTAMZNAmazon.com slips lower, levels to watch
The shares are down over 1% to $338.94. At that price next support is at $337.55, the session low. Resistance is at $340, an intraday pivot high.
12:33 EDTGMOn The Fly: Midday Wrap
Stocks on Wall Street were higher to begin the day, as reports spurred optimism that a ceasefire agreement between Russia and the Ukraine may soon be reached. The move was short lived, as the averages turned mixed during the second hour of trading. Shares of Apple (AAPL) are weighing down the Nasdaq after an analyst recommended investors take some profits in the stock. ECONOMIC EVENTS: In the U.S., factory orders rose 10.5% in July, which was a bit below the forecast for 11.0% growth. The Fed's Beige Book is scheduled to be released at 2:00 pm ET. In Europe, the final reading of Eurozone services PMI was knocked down to 53.1 from a preliminary 53.5 reading, mirroring the lowering of the Eurozone manufacturing PMI reading yesterday. COMPANY NEWS: Shares of Apple retreated 4% after research firm Pacific Crest advised investors to take some profits in the stock. Pacific Crest analyst Andy Hargreaves forecast the percentage of new iPhone users who buy the next version of the device beyond the iPhone 6 is likely to decline versus prior cycles. The stock likely has only limited room to increase, according to Hargreaves, who said he would probably downgrade Apple unless new products that can generate billions of dollars in new operating profit are launched at its September 9 event... Carmakers reported on August vehicle sales in the U.S., with Chrysler (FIATY) reporting a 20% increase, Ford stating that sales rose slightly compared to the prior year and General Motors (GM) posting a 1.2% decline in sales. MAJOR MOVERS: Among the notable gainers was Infinity Pharmaceuticals (INFI), which jumped 46% after the company announced a cancer drug collaboration with AbbVie (ABBV) and a master clinical supply agreement with Roche (RHHBY). Also higher was Mobileye (MBLY), which gained nearly 10% after Morgan Stanley wrote that the stock could rise "towards $100" if the company maintains its current market, gross margins and earnings position. Mobileye is scheduled to report on its second quarter results tomorrow morning, which will be its first quarterly report since its August IPO. Among the noteworthy losers was Repros Therapeutics (RPRX), which dropped 15% after newly posted FDA briefing documents regarding a panel on T-normalizing therapies prompted Piper Jaffray to downgrade the stock to Neutral from Overweight. Also lower following its earnings report was apparel company Vince Holding (VNCE), which fell 11%. INDEXES: Near midday, the Dow was up 33.71, or 0.2%, to 17,101.27, the Nasdaq was down 23.24, or 0.51%, to 4,574.95, and the S&P 500 was down 0.64, or 0.03%, to 2,001.64.
09:34 EDTGMGM reports August U.S. sales down 1.2% to 272,423 units
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09:31 EDTGMGeneral Motors reports August U.S. sales down 1.2% to 272,423 vehicles
08:31 EDTAMZNAmazon CFO Thomas Szkutak to retire in June 2015
Amazon.com announced that Thomas J. Szkutak, Senior Vice President and CFO, will retire from the company in June 2015. Szkutak has been Amazon’s CFO since joining the company in October 2002 and oversees the controller, treasury, investor relations, tax, internal audit and facilities functions as well as financial management of the company’s business units. Brian T. Olsavsky, Vice President of Finance for the company’s global consumer business, will succeed Szkutak as CFO, reporting to Jeffrey P. Bezos, founder and CEO of Amazon. Szkutak and Olsavsky will work together to conduct a seamless transition of CFO responsibilities over the next 10 months.
06:29 EDTGMGeneral Motors looking to fend off ignition-switch recall review, WSJ reports
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September 2, 2014
11:21 EDTNTAPNetApp says driving organic growth is priority for use of capital
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06:34 EDTAMZNApple cuts iPad mini prices as non-Apple vendors may follow, DigiTimes says
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August 31, 2014
13:44 EDTSJMBarclays to hold a conference
Back-to-School Consumer Conference to be held in Boston on September 3-5.
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