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Stock Market & Financial Investment News

News Breaks
June 4, 2014
16:30 EDTCOH, GM, UA, EBIX, NQOn 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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July 23, 2015
07:45 EDTGMGeneral Motors reports Q2 worldwide vehicles sales of 2.46M
General Motors reports Q2 North America vehicle sales of 965,000, including 822,000 in the U.S. Reports Q2 Europe vehicles sales of 319,000. Reports Q2 Asia/Pacific, Middle East and Africa vehicle sales of 1.02M. Reports Q2 South America vehicle sales of 156,000.
07:41 EDTGMGeneral Motors reaffirms 2015 outlook for improved EBIT-adjusted
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07:38 EDTGMGeneral Motors attributes lower Q2 revenue to negative currency impact
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07:36 EDTGMGeneral Motors CEO says first two quarters of year were strong
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07:36 EDTGMGeneral Motors reports Q2 adjusted EPS $1.29, consensus $1.08
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07:18 EDTUAUnder Armour raises FY15 revenue to $3.84B from $3.73B, consensus $3.83B
Raises FY15 operating income to $405M-$408M from $400M-$408M. The 2015 guidance continues to reflect the net dilutive impact from the Connected Fitness acquisitions, as well as the impact of the strong dollar negatively impacting our operating margin within our international businesses.
07:17 EDTUAUnder Armour reports Q2 apparel net revenue up 23% to $515M
Reports Q2 footwear net revenue up 40% to $154M. Reports Q2 accessories net revenue up 39% to $83M.
07:16 EDTUAUnder Armour reports Q2 EPS 7c, consensus 5c
Reports Q2 revenue $783.58M, consensus $762.15M.
06:19 EDTGMUAW concerned over auto production moving to Mexico, NYT says
The greatest concern for the United Automobile Workers, or UAW, union as it enters discussions on new contracts with Detroit auto makers Fiat Chrysler (FCAU), Ford (F), and General Motors (GM) is losing vehicle production to lower-wage countries such as Mexico, the New York Times reports. Union president Dennis Williams was upset over comments last week that suggested that Ford was considering sending work to Mexico in an effort to cut costs, the report says. "I will save my comments on Ford for when we open up negotiations,” Mr. Williams said. “But it is always concerning to me when any company invests outside the United States.” Reference Link
July 22, 2015
15:26 EDTUA, GMNotable companies reporting before tomorrow's open
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14:50 EDTGMGeneral Motors technical comments ahead of earnings
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14:24 EDTUAUnder Armour technical comments ahead of earnings
The stock is in a strong bullish trend near life highs ahead of earnings. If the news is strongly bullish, an extension of the long-term bullish price channel would suggest a move into the $100 area would be possible. That is, without breaking above the upper bound of the channel. Without established overhead resistance, price could run considerably further depending on the nature of the news. If the news is instead a bearish surprise, the low of the price channel at $76.49 would be the first major support. That price reflect the 10-month moving average for the shares. It would take news sufficiently bearish to break that level to turn the long-term trend to bearish.
13:24 EDTGMEarnings Preview: General Motors down approximately 20% since Q1 report
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11:22 EDTUAUnder Armour July weekly volatility elevated into Q2 and outlook
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08:20 EDTGMGeneral Motors July weekly volatility elevated into Q2 and outlook
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07:25 EDTCOHCoach price target lowered to $40 from $47 at Stifel
Stifel cut its price target on Coach as the firm believes that competition in the accessories category is increasing, causing a deceleration in the segment. However, the firm keeps a Buy rating on the stock.
07:18 EDTGMAir bag aging poses threat to millions of U.S. drivers, NBC News reports
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July 21, 2015
09:40 EDTGMJeep Cherokee can be hacked via entertainment system, Wired reports
Hackers Charlie Miller and Chris Valasek demonstrated to Wired how Jeep Cherokees can be hacked via the vehicle’s entertainment system, giving an attacker wireless control of the automobile and its systems. Miller and Valasek previously demonstrated hacks they were able to perpetrate against Ford (F) Escape and Toyota (TM) Prius vehicles, the report noted. Other publicly traded automakers include General Motors (GM), Honda (HMC), Nissan (NSANY) and Volkswagen (VLKAY). Reference Link
July 20, 2015
12:16 EDTGMHERE offering free HD map data for automated vehicle tests
HERE, a Nokia (NOK) company, announced it is making high-definition mapping data of sections of public roads in four countries available to all automotive companies to support their highly automated vehicle initiatives. HERE is offering HD mapping data of specific stretches of open road in Silicon Valley and Michigan in the United States, as well as in France and Germany, to all carmakers and automotive suppliers for test purposes. HERE plans to offer data for Japan too later this year. HERE is currently working with more than 10 "leading automotive companies" on automated driving projects, the company said. Publicly traded automakers include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
06:43 EDTGMGM's Opel to cut production at two German factories, Reuters reports
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