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Stock Market & Financial Investment News

News Breaks
April 11, 2014
17:09 EDTGM, WFC, JPM, EBAYStocks tumble as investors remain skittish
Stocks on Wall Street finished lower in a choppy week of trade that saw sellers take control in the week's final two sessions. The Nasdaq, which has been leading the market lower over the last few weeks of trade, was the week's laggard, with the tech index logging its first close below 4,000 since early February. ECONOMIC EVENTS: In the U.S., economic data came in a bit better than expected, with initial jobless claims reported at 300,000, less than expectations for 320,000 and lower than the prior month's revised reading of 332,000. The University of Michigan's consumer sentiment reading jumped to 82.6 in the preliminary April reading, better than March's 80.0... On Wednesday, the minutes from the FOMC's latest meeting were released, indicating that some Committee members were concerned that its new forward guidance could imply a change in its policy intentions. The Committee also said the severe winter weather in much of the U.S. held down economic activity early in the year, and said international developments, including those in China and Ukraine, bear watching... China's imports fell 11.3% from the prior month, sharply lower than expectations for expansion of 3.9%, with the world's second largest economy also reporting exports that fell 6.5% against estimates for a 4.8% increase. COMPANY NEWS: General Motors (GM) was again in the news this week, with the carmaker on Thursday placing two engineers on paid leave as part of its investigation into the circumstances leading to recall of more than 2.6M vehicles due to ignition defects. Later that same day, the company said it expects to take a $1.3 billion charge in the first quarter on recall-related repairs. Late in the session on Friday, a trove of documents were released by the the House of Representatives Committee on Energy and Commerce, which indicated, among other things, that CEO Mary Barra knew in 2011 about the company's handling of Saturn and Chevrolet models being probed by the NHTSA related to defects... Banking giants Wells Fargo (WFC) and JPMorgan (JPM) reported earnings Friday morning, with Wells' results beating expectations while JPMorgan missed estimates... eBay (EBAY) and activist investor Carl Icahn agreed to settle their proxy fight, with Icahn agreeing to withdraw his proposal for eBay to spin-off its PayPal unit. INDEXES: The Dow lost 2.4% to 16,026.75, the S&P 500 lost 2.6% to 1,815.69, and the Nasdaq lost 3.1% to 3,999.73.
News For GM;WFC;JPM;EBAY From The Last 14 Days
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September 9, 2014
14:54 EDTJPM, WFCApple announces Apple Pay
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13:55 EDTEBAYeBay down 1.2% as Apple continues discussing mobile payment system at event
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13:47 EDTJPMJPMorgan CFO says Jamie Dimon 'feeling fine'
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13:29 EDTJPMJPMorgan says core rate products continue to be challenged in Q3
Comment made at Barclays Global Financial Services Conference.
10:57 EDTGMMobileye climbs after analyst says GM, Tesla using technology
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09:16 EDTGMMobileye technology being used by GM, Tesla, says William Blair
William Blair believes both General Motors (GM) and Tesla (TSLA) are using Mobileye (MBLY) technology for their announced self-driving capabilities. The firm notes that over the past two days, GM and Tesla noted their intentions of offering vehicles with autonomous driving capability in the next 24-36 months. William Blair says the recent announcements confirm its bullish outlook on Mobileye's market opportunity. The firm has an Outperform rating on the stock. Shares of Mobileye are rallying 5%, or $2.61, to $55.62 in pre-market trading. Morgan Stanley also upped its price target this morning on the name to $65 from $46.
07:29 EDTWFCUBM Canon to hold a summit
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07:11 EDTWFCUBM Tech to hold a conference
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06:52 EDTGMGM JV in China recalls over 38K Cadillac sedans, Reuters says
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06:33 EDTJPM, WFCFed looks set to pressure large banks to shrink, NY Times says
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06:32 EDTWFC, JPMFed to require large US banks to have extra financial padding, WSJ reports
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06:22 EDTEBAYPayPal may let merchants accept bitcoin, FT reports
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06:09 EDTGMVerizon CEO sees self-driving cars 3-5 years away, Detroit News reports
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September 8, 2014
13:26 EDTGMFord falls after two notch downgrade at Morgan Stanley
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13:04 EDTGMAugust vehicle sales drop in Russia, WSJ says
The Association of European Businesses said that the sales of new vehicles in August throughout Russia have dropped at the quickest rate so far in 2014, according to The Wall Street Journal, citing a statement from chairman of the AEB Automobile Manufacturers Committee Joerg Schreiber. Industry officials are anticipating sales in the country for 2014 to decrease another 20% after a 5% decline last year. Publicly traded companies in the automobile industry include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
12:47 EDTEBAYeBay's Braintree unit to let customers accept bitcoin, Re/code reports
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08:21 EDTEBAYeBay marketplace trends could put estimates at risk, says RW Baird
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07:59 EDTGMMorgan Stanley downgrades Auto sector to Cautious, downgrades Ford
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07:24 EDTWFC, JPMBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.
07:14 EDTGMGM board slow to react on safety, NY Times says
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