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Stock Market & Financial Investment News

News Breaks
March 21, 2014
16:56 EDTFSLR, GM, TSLA, FDX, SCTY, NKEStocks close the week higher, Fed continues taper
Stocks on Wall Street finished the week higher after tensions appeared to ease somewhat regarding the situation in Ukraine, as the Federal Reserve announced it would taper its monthly rate of asset purchases by another $10B. MACRO NEWS: The Federal Reserve further reduced its pace of asset purchases by $10B per month, as it did at its previous two meetings, while also keeping benchmark interest rates between 0%-0.25%. In her first press conference as Fed Chair on Wednesday afternoon, Janet Yellen suggested that the Fed could begin to increase interest rates six months after it concludes asset purchases, which spooked markets and sent the indexes to their worst daily performance of the week... Earlier this week, Russian President Vladimir Putin said Russia had no intention of invading other parts of Ukraine following its annexation of Crimea, which aided in the indexes enjoying something of a relief rally early in the week... U.S. economic data reported this week, including industrial production and weekly jobless claims for February, came in better than expected. COMPANY NEWS: General Motors (GM) started the week with an announcement of new recalls involving about 1.5M vehicles, which would result in a $300M charge in the carmaker's first quarter. Despite the negative headlines, shares of GM closed the week up about 2.5% to close at $35.01... Two solar names, First Solar (FSLR) and Solar City (SCTY), saw shares go in different directions for the week. First Solar gave profit and sales outlooks for its fiscal years 2014 through 2016 at an analyst day presentation, and shares of the company finished the week up more than 30% to $73.37. Solar City, which is chaired by Tesla Motors (TSLA) CEO Elon Musk, saw its shares tumble after its first quarter outlook disappointed and the company said certain of its prior financial statement should no longer be relied upon... Dow member Nike (NKE) reported earnings that beat on both the top and bottom lines, but the athletic footwear and apparel maker said the devaluation in some emerging market currencies is likely to impact its reported sales, gross margin, and profit in its fiscal 2015, and shares of the company fell about 5% following the news. FedEx (FDX) also reported earnings earlier this week, with the shipping major's third quarter results missing analysts' expectations as the company said severe winter weather impacted results. INDEXES: The Dow was up 1.5% to 16,302.77, the S&P 500 was up 0.8% to 1,866.52, and the Nasdaq was up 1.4% to 4,276.79.
News For GM;NKE;FDX;FSLR;SCTY;TSLA From The Last 14 Days
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January 29, 2016
07:48 EDTSCTYSolarCity to benefit from new California rule, says Stifel
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January 28, 2016
18:30 EDTSCTYSolarCity issues statement on California net metering decision
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16:40 EDTSCTYOn The Fly: Top stock stories for Thursday
The Dow began the session with triple digit gains thanks in part to solid earnings reports from some of America's bellwether corporations and oil prices, which approached $34 a barrel. The market was unable to hold its opening gains and eventually crossed into negative territory. Before the losses became too big the averages reversed and moved back across the flat line. With oil holding onto its gains and closing above $33 a barrel, the averages closed in positive territory ahead of the next barrage of earnings reports. ECONOMIC EVENTS: In the U.S., initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 15.5% to $109.11 after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. Facebook management made only one mention of macro concerns for the business in 2016, significantly different than Apple's (AAPL) earnings call on Tuesday night, Munster pointed out... Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded 4.7% to $61.08 after the company jumped over the lowered bar that had been set by bearish analysts... Under Armour (UA), which had similarly been the focus of concern recently for some bearish analysts, posted better than expected results on the top and bottom line and backed its fiscal year revenue forecast, proving its doubters wrong and sending its share rocketing up 22.5% to $84.00. MAJOR MOVERS: Among the notable gainers were Intrexon (XON), Inovio (INO) and Cerus (CERS), which gained a respective 10%, 7.6% and 1.4% as the ongoing Zika virus scare brought attention to the companies' efforts fighting the illness. Also higher were SolarCity (SCTY), Sunrun (RUN) and Vivint Solar (VSLR), with the solar stocks jumping 8.5%, 20.5% and 3.6%, respectively, after the California Public Utilities Commission approved new net-metering rules. Meanwhile, Eagle Pharmaceuticals (EGRX) rose 12.2% to $74.44 after announcing commercial availability of its Bendeka injection in partnership with Teva (TEVA). Among the noteworthy losers was Yahoo (YHOO), which lost 3.2% to $28.75 despite a pre-market spike after SpringOwl Asset Management urged the company to seek an investment from a strategic partner. The news was also followed by reports that CEO Marissa Mayer has started restructuring efforts with an "invest/maintain/kill" list, as well as news that Verizon (VZ) denied a report that it had bid for the company's core Internet business. Also lower were OSI Systems (OSIS), Qualcomm (QCOM) and eBay (EBAY), which fell a respective 31.8%, 8.3% and 12.5% following their quarterly earnings reports. INDEXES: The Dow rose 125.18, or 0.79%, to 16,069.64, the Nasdaq gained 38.51, or 0.86%, to 4,506.68, and the S&P 500 advanced 10.41, or 0.55%, to 1,893.36.
14:11 EDTSCTYCalifornia PUC approves new net-metering rules
The California Public Utilities Commission voted 3-2 in favor of the proposed Net Energy Metering Successor Tariff.
13:17 EDTSCTYSolarCity views MLPs better than REITs, Environmental Finance reports
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12:32 EDTGMGM, Lithia Motors settle FTC actions alleging inadequate car inspection programs
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09:52 EDTTSLATesla nears test of 52-week low
Shares were last at $186.40, nearing a potential test of support at $181.40 which is the 52-week low. Resistance is at the session high at $191. A move below the 52-week low would confirm a break in the long-term uptrend for the shares.
09:38 EDTTSLAActive equity options trading on open
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08:36 EDTSCTYAttractive risk/reward developing in SolarCity, says Roth Capital
Roth Capital says that an attractive risk/reward ratio is developing in SolarCity, whose stock has dropped about 40% this year. However, the firm says that the company "will not be out of the woods" until California finalizes its net metering rules. The firm thinks the final net metering rules will be positive for SolarCity, but it's unsure about when the rules will be finalized, although it thinks they could be finalized later today. It keeps a $65 price target and Buy rating on SolarCity.
06:09 EDTGMGM's Opel unit, watchdog recalling undisclosed number of models, Reuters reports
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January 27, 2016
11:12 EDTGMMissouri Supreme Court affirms St. Louis venue for GM ignition switch cases
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07:43 EDTFDXStephens says FedEx among favorites names over next 12-24 months
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January 26, 2016
17:13 EDTFDXFedEx announces new 25M share repurchase program
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16:00 EDTTSLAOptions Update; January 26, 2016
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14:24 EDTTSLATesla says no one hurt, no damage to line from small fire, TheStreet reports
A Tesla spokesman confirmed there was a small fire in the air conditioning unit in the ceiling of the north end of it Fremont plant, but that no one was harmed and no damage was done to the production line, reported TheStreet's Chris Ciaccia. Reference Link
13:53 EDTTSLAFire reported at Tesla Fremont location, KPIX reports
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10:24 EDTSCTYNevada may let rooftop solar customers sell back power, Politico reports
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10:00 EDTFSLROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Criteo (CRTO) initiated with an Equal Weight at Morgan Stanley... Devon Energy (DVN) initiated with a Buy at Citi... Fair Isaac (FICO) initiated with an Outperform at William Blair... First Solar (FSLR) initiated with a Buy at Roth Capital... Ideal Power (IPWR) initiated with a Buy at Rodman & Renshaw... Juniper Pharmaceuticals (JNP) initiated with an Outperform at Northland... MeetMe (MEET) initiated with a Buy at Topeka... MoneyGram (MGI) initiated with a Buy at Feltl... Petroleum Geo-Services (PGSVY) initiated with a Buy at HSBC... Rubicon Project (RUBI) initiated with an Equal Weight at Morgan Stanley... Smart & Final Stores (SFS) initiated with a Buy at BB&T... Tuesday Morning (TUES) initiated with a Neutral at B. Riley.
09:32 EDTGMActive equity options trading on open
Active equity options trading on open: FB PEP NFLX PM GM RMBS MSFT GLW AAPL
08:13 EDTFSLRFirst Solar initiated with a Buy at Roth Capital
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