New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
June 30, 2014
16:22 EDTGLUU, GM, TWGP, MU, MBI, KINGOn The Fly: Closing Wrap
Stocks on Wall Street were mixed with the Nasdaq the lone index to notch a gain for the session. Stocks began the session mixed and remained that way for most of the session, with the major averages trading in a narrow range. The volume was light, as is typical for a holiday shortened week. Investors are already on watch for the monthly jobs report, which will be released on Thursday before the market opens. ECONOMIC EVENTS: In the U.S., the Chicago ISM manufacturing index dipped more than expected to 62.6 in June from the seven-month high reading of 65.5 it hit last month. An index of pending home sales in May climbed 6.1%, soundly beating expectations and representing its biggest advance in more than four years. COMPANY NEWS: Shares of General Motors (GM) fell 32c, or 0.87%, to $36.30 after the company announced it will conduct six new safety recalls in the U.S. involving about 7.6M vehicles from the 1997 to 2014 model years. GM said it expects to take a charge of up to approximately $1.2B in the second quarter for the cost of recall-related repairs, which includes a previously disclosed $700M charge for recalls that have already been announced previously. The District Attorney of Orange County, California, filed a civil lawsuit against the carmaker, accusing it of endangering the public through deception regarding vehicle safety and reliability. Earlier in the day, compensation expert Ken Feinberg unveiled the awaited settlement plan to compensate victims in accidents involving GM recalled vehicles. Under the program, Feinberg will provide compensation ranging from $20,000 to several million dollars to anyone who can show they were hurt in a crash involving cars GM has recalled, with no limit, but a key condition is that the claimants show the vehicle's air bags didn't deploy in the crash. MAJOR MOVERS: Among the notable gainers was King Digital (KING), which rose $2.70, or 15.13%, to $20.55 after Cowen said in a note to investors that fears over competition in the mobile gaming space are overdone and kept its Outperform ratings on King and another stock in the space, Gluu Mobile (GLUU). Also higher was Micron (MU), which jumped $1.44, or 4.57%, to $32.95 after Credit Suisse added the stock to its Focus List, citing the company's diversification efforts and gross margin expansion opportunities. Among the noteworthy losers was Tower Group (TWGP), which dropped 23c, or 11.11%, to $1.80 after disclosing that representatives of ACP Re have suggested that an unwaived insolvency event has or may have occurred under the companies' merger agreement, though Tower said it does not believe that any such event has occurred. Also lower were shares of MBIA (MBI), which fell 45c, or 3.92%, to $11.04 after the stock was downgraded to Neutral from Buy at BTIG. INDEXES: The Dow fell 28.16, or 0.17%, to 16,823.68, the Nasdaq rose 10.25, or 0.23%, to 4,408.18, and the S&P 500 slipped 0.73, or 0.04%, to 1,960.23.
News For GM;KING;MU;GLUU;MBI;TWGP From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 >>
October 1, 2015
09:35 EDTMU, GMActive equity options trading on open
Subscribe for More Information
09:18 EDTGMGM sees six-month moving average for SAAR 17.6M units
Subscribe for More Information
09:17 EDTGMGeneral Motors reports September U.S. sales up 12% to 251,310 vehicles
General Motors' Chevrolet, Buick, GMC and Cadillac brands sold 251,310 vehicles in the United States in September 2015. Retail deliveries climbed 17% compared with a year ago, which makes September the sixth month in a row that GM has increased retail market share year over year. Total sales were up 12%. GM's average transaction prices increased almost $800 per unit compared to August 2015, according to J.D. Power PIN estimates. Incentive spending in September was down 1 percentage point from August 2015, much greater than the industry's 0.2 percentage point decline. Year over year, spending was down 0.7 percentage points, while industry spending increased 0.9 percentage points. Commercial deliveries increased 10 percent year over year for the 23rd consecutive monthly increase. Consistent with GM's plan, total fleet sales were down 5 percent due to a 12 percent decline in rental deliveries.
09:17 EDTGMGeneral Motors reports September U.S. sales up 12% to 251,310 vehicles
Subscribe for More Information
09:05 EDTGMGeneral Motors outlines plans on future of personal mobility
General Motors (GM) CEO Mary Barra and her leadership team outlined the company's plans to capitalize on the future of personal mobility. GM also said it plans to strengthen its core business through global growth initiatives and an aggressive product launch cadence. As a result, the company expects to increase its earnings per share and generate significant shareholder value. The company shared its plans with investors during a conference at its Milford Proving Ground. GM announced that late in 2016 it will add a fleet of 2017 Chevrolet Volts designed to drive autonomously within its renovated Warren Technical Center campus. GM also announced two new car- and ride-sharing projects, one in New York City operating today and one to come in first quarter next year in another U.S. city. In collaboration with Honda, it is developing a next-generation hydrogen fuel cell stack and hydrogen storage systems. GM confirmed its plans to jointly develop a commercially viable fuel cell vehicle with Honda (HMC) in the 2020 timeframe. The company expects to grow its business over the next five years through key initiatives including a $5 billion investment in an all-new Chevrolet growth market vehicle family; maintaining a strong market position in China by enhancing its presence in SUV and luxury segments; expanding Cadillac's vehicle portfolio into growing luxury segments; continuing the growth of GM Financial through the expansion of services globally, and expanding aftersales and OnStar revenue opportunities globally. In the same timeframe, GM plans to introduce a large number of all-new or refreshed vehicles globally. In 2015, about 26 percent of GM's global sales volume has come from vehicles new or refreshed within the previous 18 months. This percentage is projected to be 39 percent in 2016, 40 percent in 2017, 31 percent in 2018, and reach 40 percent in 2019 and 2020. GM is also accelerating its efforts to drive further cost efficiencies across the value chain, with a focus on enhancing overall value for its customers. The company said it expects to generate benefits of approximately $5.5 billion in purchasing, manufacturing and administration expense between 2015 and 2018, more than offsetting increased investments in brand development and technology.
05:56 EDTGMTrueCar boosts 2015 U.S. sales forecast to 17.4M from 17.2M
TrueCar (TRUE) raised its 2015 annual forecast by 200,000 units to 17.4 million as sales growth in the remaining months of 2015 is poised to remain vigorous. New auto sales in September, aided by a later-than-usual Labor Day, should expand by 12.6 percent from a year ago, while the Seasonally Adjusted Annual Rate should reach 17.7 million units. That strength underpins TrueCar's revised full-year industry forecast of 17.4 million units, the highest volume since 2000. Retail share of the total industry likely expanded a full point in September versus last year, indicating busier-than-average showrooms. Confident consumers are expected to push new vehicle revenue to a record $45 billion for the month, up 13.2 percent versus the same period last year. Publicly traded companies in the space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM), Daimler (DDAIF) and Volkswagen (VLKAY). TrueCar EVP Larry Dominique commented, "Volkswagen's stop sell of diesel vehicles in the U.S. causes a noticeable hit to its September revenue, with a 7.7 percent decline. We expect sales to dip by at least by 5 percent and incentives to increase by $235 per unit, which will be essential to push non-impacted models off the lots."
September 30, 2015
16:00 EDTMUOptions Update; September 30, 2015
Subscribe for More Information
15:45 EDTGMGeneral Motors to hold a conference call
Subscribe for More Information
10:49 EDTMUWestern Digital surges on $3.78B investment from China's Unisplendour
Shares of Western Digital (WDC) surged in morning trading after the company said it Unisplendour will take a 15% stake in the U.S. data storage company. WHAT'S NEW: Western Digital and Unisplendour, a unit of China's Tsinghua Holdings, said they entered into a pact under which a Unis subsidiary will invest $3.78B in Western Digital, the companies said. Under the terms of the agreement, Unis will buy the shares at $92.50 each. Unisplendour will own 15% of Western Digital's outstanding shares after the purchase, and have the right to nominate one representative to Western Digital's board of directors, a right that terminates if Unis' ownership falls below 10%. Unis also agreed not to sell any of its Western Digital shares for five years. WHAT'S NOTABLE: In July, the Wall Street Journal reported that Tsinghua Unigroup, which is majority-owned Tsinghua Holdings, offered to buy Micron Technology (MU) for $23B. After several talks and meetings over the matter, Reuters reported on August 28 that Zhao Weiguo, chairman of Tsinghua Unigroup, met with Micron in an attempt to revive takeover talks, but a deal did not come to fruition. Tsinghua Holdings chairman Jinghong Xu said that his company was open to a partnership with Micron if an acquisition deal could not be reached, dealReporter said. Separately, in May, Hewlett-Packard (HPQ) announced that it would sell a 51% stake in its H3C business to Unisplendour for roughly $2.3B. PRICE ACTION: In morning trading, Western Digital shares are up 16.06% to $79.91. OTHERS TO WATCH: Micron, which reports quarterly earnings on Thursday, is up 5.25% to $15.10, HP is up 2.56% to $25.28, SanDisk (SNDK) is up 9.2% to $53.63, Intel (INTC) is up 3.56% to $30.28, and Seagate (STX) is up 5.5% to $44.10.
09:59 EDTMUActive equity options trading on open
Subscribe for More Information
09:05 EDTGMGeneral Motors and Navistar reach long-term commercial vehicle agreement
Subscribe for More Information
08:04 EDTMUMicron October weekly volatility elevated into Q4 and outlook
Micron October weekly call option implied volatility is at 133, October is at 76, November is at 75; compared to its 52-week range of 28 to 73, suggesting large near term price movement into the expected release of Q4 results on October 1.
September 29, 2015
11:26 EDTMUStocks with call strike movement; MU TSLA
Micron (MU) January 17 call option implied volatility decreased 3% to 55, Tesla (TSLA) December 280 call option implied volatility increased 2% to 44 according to iVolatility.
10:00 EDTMUOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Apache (APA) upgraded to Overweight from Neutral at Simmons... Autoliv (ALV) upgraded to Neutral from Sell at Goldman... Bristol-Myers (BMY) upgraded to Buy from Neutral at UBS... Bunge (BG) upgraded to Outperform from Market Perform at BMO Capital... Cerner (CERN) upgraded to Outperform from Sector Perform at RBC Capital... Continental AG (CTTAY) upgraded to Conviction Buy from Buy at Goldman... Digital Realty (DLR) upgraded to Overweight from Sector Weight at KeyBanc... FTD Companies (FTD) upgraded to Buy from Neutral at Sidoti... Intermolecular (IMI) upgraded to Outperform from Market Perform at Northland... Johnson & Johnson (JNJ) upgraded to Buy from Hold at Deutsche Bank... LDR Holding (LDRH) upgraded to Outperform from Market Perform at Northland... Lincoln National (LNC) upgraded to Overweight from Neutral at Piper Jaffray... McDonald's (MCD) upgraded to Outperform from Neutral at Credit Suisse... Micron (MU) upgraded to Outperform from Market Perform at Wells Fargo... Nautilus (NLS) upgraded to Buy from Neutral at B. Riley... Nevsun Resources (NSU) upgraded to Outperform from Sector Perform at Scotia... Nexstar (NXST) upgraded to Buy from Hold at Jefferies... Omega Protein (OME) upgraded to Buy from Neutral at DA Davidson... Raytheon (RTN) upgraded to Buy from Neutral at UBS... Republic Airways (RJET) upgraded to Buy from Hold at Deutsche Bank... Swiss Re (SSREY) upgraded to Neutral from Underweight at JPMorgan... Thor Industries (THO) upgraded on positive trends, checks at BMO Capital... Verint (VRNT) upgraded to Outperform from Market Perform at William Blair.
07:17 EDTMUMicron price target lowered to $23 from $34 at Stifel
Subscribe for More Information
06:17 EDTGMFiat Chrysler labor deal faces resistance, NY Times reports
Fiat Chrysler's (FCAU) tentative deal with the United Auto Workers union has seen resistance in early voting, with several plants rejecting the deal outright, the New York Times says. Voting at some of the largest plants will start Tuesday, and that fate of the proposed four-year deal will be determined by the middle of the week, the report says. Opponents to the deal have said that it does not offer any clear path for lower-tier workers to reach the highest levels of hourly play and fails to limit the number of entry-level workers, the report says. Fiat Chrysler's deal with its auto workers is viewed as a template for labor talks that General Motors (GM) and Ford (F) will have with their workers, the report says. Reference Link
06:02 EDTMUMicron upgraded to Outperform from Market Perform at Wells Fargo
Wells Fargo analyst David Wong upgraded Micron Technology to Outperform saying current valuation levels provide upside potential. Wong cut his estimates for the company, however, citing the "ongoing slide" in DRAM pricing. Nonetheless, he thinks that memory industry financial dynamics have improved in recent years and keeps a $16-$19 price target range for Micron shares.
September 28, 2015
18:51 EDTGMGM CEO plans increased focus on connectivity, autonomous driving, Reuters says
Subscribe for More Information
11:05 EDTMUMicron October weekly volatility elevated into Q4 and outlook
Subscribe for More Information
07:49 EDTMUMicron price target lowered to $20 from $25 at UBS
Subscribe for More Information
1 | 2 | 3 >>

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