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Stock Market & Financial Investment News

News Breaks
June 4, 2014
16:30 EDTGM, NQ, UA, COH, EBIXOn The Fly: Closing Wrap
Stocks on Wall Street were higher, with the S&P 500 managing to close at a record high despite a relatively quiet trading day. Stocks began the session in negative territory following disappointing data job growth, the trade deficit, and non-farm productivity. The opening losses were moderate and were stemmed when the ISM services report came out slightly above expectations. The averages drifted towards the flat line and eventually crossed over into positive ground but there was little in the way of a catalyst to propel the market higher. The averages found a level near midday, from which they barely moved for the remainder of the session. ECONOMIC EVENTS: In the U.S., the trade deficit widened to $47.2B in April from $44.2B in March. ADP reported private payrolls increased 179k in May, which was below the consensus forecast for 210K job additions. Q1 productivity growth was revised lower to (3.2%), versus (1.7%) initially and expectations for a reduction to (3.1%.). Markit's services PMI rose to 58.1 in May from 55.0 in April, while ISM's services index rose to 56.3 in May from a reading of 55.2 last month. In its latest Beige Book report, the Federal Reserve said that all twelve of its districts reported that economic activity expanded during the recent period, with the pace of growth described as either "moderate" or "modest" in all of the regions. COMPANY NEWS: Shares of General Motors (GM) shares advanced $1.26, or 3.57%, to $36.52 after the company confirmed it will provide an update on its ignition switch recall investigation tomorrow, followed by a press conference hosted by CEO Mary Barra. MAJOR MOVERS: Among the notable gainers was NQ Mobile (NQ), which jumped $2.36, or 30.93%, to $9.99 after the company reported that investigators it appointed had found no evidence that the company had committed fraud as alleged by the short-selling blog Muddy Waters. Also higher was athletic apparel maker Under Armour (UA), which rose $2.52, or 4.93%, to $53.62 after research firm Jefferies upgraded the stock to Buy from Neutral in a note to investors earlier today. Among the noteworthy losers was Ebix (EBIX), which fell $2.17, or 14.56%, to $12.73 after it updated on its acquisition strategy and said it is looking to secure a new credit facility with additional flexibility and improved pricing to fund any acquisitions beyond its current allowance under its existing credit agreement. Also lower were shares of Coach (COH), which slipped $1.03, or 2.58%, to $38.99 after research firm Sterne Agee lowered its rating on the stock to Neutral from Buy. INDEXES: The Dow was up 15.19, or 0.09%, to 16,737.53, the Nasdaq was up 17.56, or 0.41%, to 4,251.64, and the S&P 500 was up 3.64, or 0.19%, to 1,927.88.
News For GM;NQ;UA;COH;EBIX From The Last 14 Days
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September 22, 2014
07:02 EDTGMJPMorgan prefers shares of GM and Ford to Tesla
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06:52 EDTGMCalifornia to add additional incentives for electric cars, NY Times says
California Governor Jerry Brown signed several bills that are supposed to make electric cars more affordable for low income residents of the state, according to The New York Times. The bills, among other things, will boost rebates that low income earners receive when buying an electric car, and install charging stations in apartment buildings in low income areas, the newspaper stated. GM (GM), Nissan (NSANY) Ford (F) and Tesla (TSLA) are among the companies that make electric cars. Reference Link
September 20, 2014
21:44 EDTGMGM recalls 221,558 Cadillac XTS and Chevrolet Impala sedans, WSJ says
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September 19, 2014
14:50 EDTGMJudge orders General Motors must hand over defect files, WSJ reports
A U.S. Judge has ordered General Motors to turn over internal files and documents regarding its ignition-switch flaw and how it handled the defect to plaintiff attorneys, The Wall Street Journal says. The attorneys are representing plaintiffs who have sued the auto manufacturer alleging economic loss, personal injury, and deaths related to the company's recall of older cars with the ignition-switch defect. While General Motors is protected from liabilities that occurred before its bankruptcy in 2009, the recent ruling paves the way for plaintiff attorneys to obtain records they could use in cases before and after General Motor's bankruptcy petition, The Wall Street Journal added. Reference Link
07:09 EDTGMGeneral Motors to launch new Cadillac sedan next year, AP reports
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September 18, 2014
10:02 EDTGMGeneral Motors to recall 3,200 natural gas-fueled vans, WSJ reports
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09:22 EDTUABack to school season healthy for footwear, says Sterne Agee
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September 17, 2014
10:00 EDTUAOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AB InBev (BUD) upgraded to Hold from Sell at Societe Generale... Baker Hughes (BHI) upgraded to Outperform from Sector Perform at Howard Weil... Bank of the Ozarks (OZRK) upgraded to Buy from Hold at BB&T... Bill Barrett (BBG) upgraded to Buy from Neutral at Mizuho... Cepheid (CPHD) upgraded to Buy from Hold at Cantor... Cigna (CI) upgraded to Positive from Neutral at Susquehanna... Extra Space Storage (EXR) upgraded to Buy from Hold at Jefferies... GNC Holdings (GNC) upgraded to Outperform from Neutral at Wedbush... MB Financial (MBFI) upgraded at DA Davidson... Mondelez (MDLZ) upgraded to Buy from Hold at Societe Generale... Radian Group (RDN) upgraded to Buy from Neutral at Compass Point... Skullcandy (SKUL) assumed with a Overweight from Neutral at Piper Jaffray... Under Armour (UA) upgraded to Overweight from Neutral at Piper Jaffray.
07:37 EDTGMEU car registrations up 2.1% in August, up 5.6% in July
The European Automobile Manufacturers Association reported new passenger car registrations were up by 5.6% in July and by 2.1% in August. Eight months into the year, demand for new cars amounted to 8,336,159 units, or 6.0% more than in the same period last year, the group noted. Publicly traded automakers include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
07:26 EDTGMGM to cut supply, but not prices, as it seeks to revive Cadillac, WSJ says
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05:53 EDTNQStocks with implied volatility movement; YHOO NQ
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September 16, 2014
16:33 EDTUAUnder Armour upgraded to Overweight from Neutral at Piper Jaffray
Piper Jaffray upgraded Under Armour to Overweight with a $78 price target after assuming coverage of the stock.
13:09 EDTGMGeneral Motors to add third shift, 750 jobs at Wentzville Assembly plant
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12:19 EDTGMGM ups U.S. mid-sized pickup production, Reuters says
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08:46 EDTGMGeneral Motors concerns about Ford's new F-Series are overdone, says Goldman
Goldman believes concerns about Ford's new F-Series impact on General Motors is overdone. The analyst said investors are underestimating F-150 capacity constraints if the launch is successful, which will limit General Motors share loss.
07:26 EDTGMUltima Media to hold a conference
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06:54 EDTGMGM's Opel realigns Russian operations
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06:43 EDTGMNHTSA exec knocks GM for distorted recall protocol, Reuters says
The acting administrator of the National Highway Traffic Safety Administration David Friedman said that GM placed its own reputation before customer safety when it did not quickly report and recall vehicles that are now connected to at least 19 deaths, according to Reuters, citing comments from Friedman. Friedman said that he has been meeting with top worldwide car manufactures to develop a "new normal" for safety recall protocol. Reference Link
06:38 EDTGMGM Opel unit to reduce production in Russia, Reuters says
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06:30 EDTGMNHTSA chief calls for 'new normal' for recalls, Detroit News reports
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