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Stock Market & Financial Investment News

News Breaks
December 10, 2013
09:09 EDTIEP, ALOG, PBY, EGLE, GNK, BRCM, GERN, NAVB, TOL, ARIA, MU, RMBS, LULU, GMOn The Fly: Pre-market Movers
HIGHER: Toll Brothers (TOL), up 2.6% following earnings report. Broadcom (BRCM), up 2% after issuing revenue guidance... Rambus (RMBS), up 10% after announcing a broad patent cross license agreement with Micron Technology (MU)... Navidea (NAVB), up 14% after granted FDA Fast Track Designation for Lymphoseek Injection... ARIAD (ARIA), up 9.6% following upgrade at Stifel... Lululemon (LULU), up 2% after founder, non-executive chairman Chip Wilson to resign, appoints Laurent Potdevin CEO... Blackhawk (HAWK), up 4.8% following upgrade at Citigroup. DOWN AFTER EARNINGS: Pep Boys (PBY), down 12%... Analogic (ALOG), down 11.5%. ALSO LOWER: General Motors (GM), down 0.8% after company announces accelerated retirement of CEO Akerson, U.S. completes exit from stake... Icahn Enterprises (IEP), down 8.8% after announcing the sale of 2M depositary units representing limited partnership interest in the company... Genco (GNK), down 36% after WSJ says the company and Shippers Eagle Bulk (EGLE), are working with advisers to cut debt. Eagle Bulk shares are also down 27% after the report.
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April 11, 2014
07:31 EDTGMChina auto sales growth slowed in March, WSJ reports
The China Association of Automobile Manufacturers said 1.71M passenger vehicles were sold there in March, which was up 7.9% from a year earlier but a slower growth rate than the 11% year-over-year increase seen in the January-to-February period, reported The Wall Street Journal. The association cited weak sales of minivans, which fell 23% in the month, as a large factor, the report noted. Publicly traded automakers include Ford (F), General Motors (GM), Fiat (FIATY), Honda (HMC), Toyota (TM), Nissan (NSANY) and Volkswagen (VLKAY). Reference Link
06:58 EDTRMBSRambus initiated with a Buy at Benchmark Co.
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06:40 EDTGMGM surpasses VW in Q1 China sales, Bloomberg says
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06:36 EDTGMSafety advocates unnerved by accidents in recalled GM cars, Reuters says
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06:15 EDTGMFord upgraded to Buy from Hold at Deutsche Bank
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06:08 EDTMUMemory suppliers look to bundle NAND flash sales with DRAM chips, DigiTimes says
Some memory device suppliers may be pushing sales of NAND flash chips with DRAM chips in an effort to easy the oversupply of NAND flash products, reports DigiTimes. According to market sources, the prices of NAND chips have continued to decline this year due to the capacity ramps from major companies. Reference Link
April 10, 2014
16:39 EDTGMOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower as selling pressure took hold early in the session and did not relent. The averages closed near their worst levels, with the tech-heavy Nasdaq down more than 3%. With today's close, each of the major indexes is now lower for the year. ECONOMIC EVENTS: In the U.S., initial claims for unemployment benefits fell to 300K last week, hitting their lowest weekly level since May 2007. The the timing of Easter and Passover, as well as other seasonal factors, however, may have lead many to discount the figure. Export prices rose 0.8% in March, while import prices grew 0.6%, both of which were greater than expected advances. In China, exports fell 6.6% from a year earlier in March, while imports plunged 11.3%. Economists had predicted year-over-year gains for both. COMPANY NEWS: eBay (EBAY) and activist investor Carl Icahn settled their proxy contest, with Icahn withdrawing both his two board nominees and his proposal for eBay to spin off its PayPal unit. As part of its agreement with Icahn, eBay will expand the number of independent directors on its board to 10 and add David Dorman to serve in that capacity. The online retail marketplace was among the many tech names suffering losses, closing the session down $1.81, or 3.24%, at $54.08... Ally Financial (ALLY), formerly the auto finance and financial services arm of General Motors (GM), lost $1.02, or 4.08%, to close at $23.98 in its first day of trade following its return to the public markets after having price its return offering at $25.00 per share... General Motors made news again as well by confirming that two of its engineers have been placed on paid leave as part of the company's ongoing ignition switch recall probe. The company also added ignition lock cylinders to its safety recall of 2.2 million vehicles in the U.S. and said it expects to take a $1.3B charge in the first quarter due to recall-related repairs... MAJOR MOVERS: Among the notable gainers was drugstore operator Rite Aid (RAD), which rose 54c, or 8.44%, to $6.94 after reporting earnings and revenue and that beat expectations and giving a revenue outlook for its fiscal 2015 that came in above estimates. Also higher following a better than expected earnings report was casual restaurant owner Ruby Tuesday (RT), which advanced 72c, or 12.08%, to $6.68. Among the noteworthy losers was data security solutions provider Imperva (IMPV), down $21.73, or 43.7%, to $28.00 which plunged 41% after the company slashed its first quarter profit and sales outlook. Another name in computer security, FireEye (FEYE), was among a a number of so-called "momentum" stocks that fell during the session, sliding $6.64, or 11.77%, to $49.75. Other momentum stocks that fell included 3D Systems (DDD), down $5.90, or 10.79%, to $48.78, and Yelp (YELP), down $7.78, or 10.92%, to $63.47. INDEXES: The Dow was down 266.96, or 1.62%, to 16,170.22, the Nasdaq was down 129.79, or 3.1%, to 4,054.11, and the S&P 500 was down 39.10, or 2.09%, to 1,833.08.
16:21 EDTBRCMBroadcom initiated with a Neutral at ISI Group
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16:10 EDTMUMicron initiated with a Strong Buy at ISI Group
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14:07 EDTGMGeneral Motors up more than 1% after announcing $1.3B recall-related charge
14:02 EDTGMGeneral Motors to take $1.3B charge in Q1 on recall-related repairs
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12:25 EDTGMOn The Fly: Midday Wrap
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11:03 EDTMUOptions with decreasing implied volatility: MNKD QCOR MU KMX
10:31 EDTMUMicron to host analyst meeting
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08:18 EDTMUMicron licenses SerDes IP from Avago for Hybrid Memory Cube
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08:08 EDTGMGM confirms two engineers placed on paid leave as part of ignition switch probe
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07:34 EDTNAVBNavidea presents Manocept platform study findings
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07:20 EDTGMGM fights against judge's request for 'park-it' order, Bloomberg says
U.S. District Judge Nelva Gonzales Ramos asked GM to explain why she shouldn’t order the automaker to recommend that drivers of the recalled cars should cease driving them, according to Bloomberg, citing a statement from the automotive company. GM feels it shouldn’t be obligated to tell vehicle owners to park the recalled models until they are fixed, because they’re safe to use if government-approved recall instructions are followed. Reference Link
06:32 EDTGMAutomakers have recalled nearly 15M vehicles since start of year, WSJ reports
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06:10 EDTGMGeneral Motors requests NASA review in recalled vehicles, Detroit News says
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