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Stock Market & Financial Investment News

News Breaks
December 13, 2013
14:53 EDTBRCM, GM, CSCO, MA, LULUStocks poised to end week lower on tapering fears
Stocks are set to end the week significantly lower as investors renewed their worrying that the Fed will announce a reduction in its asset purchase program next week. MACRO NEWS: The market fell on Tuesday, Wednesday and Thursday, after Dallas Federal Reserve Bank President Richard Fisher said on Monday that the central bank should start to reduce its bond purchases next week. Also on Monday, another Fed president, James Bulllard, said the chances of a reduction in asset purchases have increased because the labor market has improved... U.S. economic data was mixed, as the number of Americans filing for jobless claims last week was higher than expected but retail sales for November surpassed expectations... Congressional negotiators reached a two year budget deal, and the House passed the blueprint. The Senate is scheduled to vote on the plan next week. COMPANY NEWS: Athletic apparel maker lululemon (LULU) named a new CEO, announced that its chairman would step down, and provided weaker than expected fourth quarter guidance... Cisco (CSCO) reduced its long-term sales forecast, citing weaker demand from emerging markets and telecom companies... More positive news was announced by Broadcom (BRCM), which provided higher than expected fourth quarter revenue guidance... General Motors (GM) made headlines for two separate events: the Treasury announced the sale of its remaining stake in the automaker, which was followed by an announcement that Mary Barra, currently the company's executive VP in charge of product development and supply chain, will replace Dan Akerson as CEO effective January 15, 2014... MasterCard (MA) announced a 10-for-1 stock split, an 83% dividend increase, and a plan to repurchase $3.5B of its stock.
News For GM;LULU;CSCO;BRCM;MA From The Last 14 Days
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April 4, 2014
10:10 EDTLULUJudge rejects claims from lawsuit against lululemon, Reuters reports
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10:02 EDTCSCOOn The Fly: Analyst Initiation Summary
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09:45 EDTCSCOWells questions validity of low FireEye score in NSS Labs report
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09:36 EDTMAActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA MU GNK AMZN FB GILD MA NFLX
08:02 EDTMASam's Club extends contract for branded credit card program with GE Capital
Samís Club, a division of Wal-Mart Stores (WMT), has finalized a multi-year agreement with GE Capital Retail Bank (GE) to extend their existing relationship to provide Samís Club-branded credit cards to club members in the U.S. and Puerto Rico. As part of the extension, GE Capitalís Retail Finance business will continue to manage and service the credit card programs for Samís Club Savings, Business and Plus members. Under the agreement, the Samís Club co-branded credit card programs will be converted to MasterCard (MA) later this year. Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.
07:55 EDTGMFord outpacing rivals in China on strength of SUVs, WSJ says
Thanks in large part to a rising demand in China for sport-utility vehicles, Ford's (F) China deliveries jumped past Toyota (TM) in 2013 and the U.S. automaker also gained on General Motors (GM) and Volkswagen (VLKAY), who it has similarly trailed in China for years, reported The Wall Street Journal. Reference Link
07:38 EDTGMGM ups truck discounts in April, Reuters says
GM (GM) again increased discounts on its full-size Chevrolet Silverado pickups after being outsold in March by Chrysler's Ram 1500, according to Reuters, citing GM's details of the discount on the company's consumer website. Chrysler is a unit of Fiat (FIATY). Reference Link
06:49 EDTGMNHTSA still receiving answers, documentation from GM, WSJ reports
GM says it has submitted 200,000 pages of records and answered more than 65% of the 107 questions the NHTSA has asked about the events leading to the ignition switch recall, though a timetable has not been released on when the information will be made public, the Wall Street Journal reports. Reference Link
April 3, 2014
17:25 EDTGMGeneral Motors expects $400M pre-tax charge on currency adjustment
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16:13 EDTCSCOCisco initiated with an Outperform at Northland Securities
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12:57 EDTGMCourt may order GM to tell customers to stop driving cars, Bloomberg reports
A court will hold a hearing tomorrow on whether to order GM to tell owners of 2.59M of its small cars to refrain from driving them, Bloomberg reported this morning. Reference Link
11:05 EDTMAFCA announces competition review into credit cards
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10:49 EDTLULULululemon Athletica active call volume attributed to renewed takeover chatter
Lululemon Athletica active April weekly 55 and 56 call total call volume is attributed to renewed takeover chatter. April weekly call option implied volatility is at 43, April is at 34, June is at 38; compared to its 26-week average of 37 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
10:43 EDTGMGM retains Jeff Eller to consult on crisis communications, Bloomberg says
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10:34 EDTLULURumor: lululemon strength attributed to unconfirmed takeover speculation
10:00 EDTBRCMOn The Fly: Analyst Downgrade Summary
BB&T (BBT) downgraded to Outperform from Strong Buy at Raymond James... Broadcom (BRCM) downgraded to Neutral from Overweight at Piper Jaffray... CF Industries (CF) downgraded to Neutral from Buy at Citigroup... CSX (CSX) downgraded to Equalweight from Overweight at Barclays... Cheniere Energy (LNG) downgraded to Neutral from Outperform at Credit Suisse... Citigroup (C) downgraded to Neutral from Buy at Sterne Agee... Deutsche Bank (DB) downgraded to Neutral from Overweight at JPMorgan... G&K Services (GK) downgraded to Neutral from Outperform at RW Baird... Marcus (MCS) downgraded to Neutral from Buy at B. Riley... National Retail Properties (NNN) downgraded to Sell from Neutral at UBS... Norfolk Southern (NSC) downgraded to Neutral from Overweight at Atlantic Equities... Orion Energy (OESX) downgraded to Hold from Buy at Ascendiant... VIVUS (VVUS) downgraded to Underweight from Neutral at Piper Jaffray... Liquidity Services (LQDT) downgraded to Neutral from Outperform at RW Baird... Shaw Communications (SJR) downgraded to Sector Performer from Outperformer at CIBC... USG (USG) downgraded to Neutral from Outperform at Macquarie... Level 3 (LVLT) downgraded to Hold from Buy at Gabelli... U.S. Bancorp (USB) downgraded to Neutral from Conviction Buy at Goldman... Extra Space Storage (EXR) downgraded to Buy from Conviction Buy at Goldman... First Republic Bank (FRC) downgraded to Buy from Conviction Buy at Goldman... TELUS (TU) downgraded to Neutral from Outperform at Macquarie.
07:41 EDTGMGM CEO grilled, pushed for faster change by senators, WSJ says
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07:19 EDTGMGM accused of 'criminal deception' due to switch defect, Bloomberg says
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07:01 EDTGMGeneral Motors recall not likely to have a long-term impact, says UBS
UBS said automotive industry forecaster, IHS Automotive, has not seen a large change in General Motors production schedules following news of the recall. Based on prior recalls at at Toyota and Ford, the analyst does not expect GM to experience a long-term impact. Shares are Buy rated.
06:57 EDTGMDelphi's role in GM recall could be put to test, Reuters says
Delphi Automotive's (DLPH) name does not appear on the outside of the 2.6M vehicles recalled by GM (GM) since February, but the company is getting drawn into an increasing wave of litigation for its role in making the faulty ignition switch which sparked the recalls, reported Reuters. Reference Link
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