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Stock Market & Financial Investment News

News Breaks
January 31, 2014
12:15 EDTGOOG, AMZN, WMT, CMG, ZNGA, N, GDOT, MPOOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at the outset, but the averages have managed to cut their losses in half from that early low point. The market is approaching correction territory and investors may have tried to take advantage of stocks being beaten up to add to positions. With today's slide the market is putting the finishing touches on its first losing month since August. ECONOMIC EVENTS: In the U.S., personal income was reported to be flat in December, versus expectations for it to have grown 0.2%, though spending rose 0.4%, which was above the forecast for spending growth of 0.2%. Employment costs rose 0.5% during the fourth quarter, versus the expected increase of 0.4%. The Chicago ISM business barometer dropped to 59.6 in January from 60.8 in December, though that was a little better than analysts forecast for it to slip to 59.5. The University of Michigan consumer sentiment index fell to 81.2 in the final January print, though that was close to expectations. In Europe, reports on the labor market and inflation suggested that the ECB will be under pressure to provide more monetary stimulus. The unemployment rate in the euro zone was 12% in December, unchanged since October after a revision of prior months’ data. The inflation rate came in at 0.7% in January, which is down from 0.8% in December and significantly lower than economists expected. The “core” rate excluding energy, food, alcohol and tobacco, rose to 0.8% in January from 0.7% in the prior month. COMPANY NEWS: The world's largest retailer, Wal-Mart (WMT), warned that its profits for its Holiday quarter and for the year may come in at or slightly below its prior view. The company said two factors contributed to its lower than expected comparable store sales performance in the U.S., namely a greater than expected impact from the government's changes to its nutrition assistance program and eight named winter storms that forced store closures and hurt traffic throughout the quarter. Despite the downbeat view, shares of the company were fractionally higher near noon... Shares of another retail giant, on-line retailer Amazon.com (AMZN), fell 9% after the company’s fourth quarter results and first quarter guidance fell short of analysts’ expectations. Despite earnings and revenue that came in below forecasts, analyst commentary was mostly positive this morning, as four separate research firms raised their respective price targets on Amazon... Google (GOOG) edged closer to $1,200 per share, rising almost 4% near noon after its quarterly report last night revealed profits that fell a bit short of expectations but revenues that exceeded the consensus estimate. Several firms ratcheted up their price targets on the search leader's shares after the report, with FBN Securities bumping its price target for Google to $1,400, citing the company's strong paid click growth and improving network revenue. MAJOR MOVERS: Among the notable gainers was Zynga (ZNGA), which advanced 16% after the company reported a narrower-than-expected quarterly loss and said it expects to be profitable in 2014. The mobile game maker also announced a deal to acquire NaturalMotion for $527M and disclosed plans to cut 15% of its workforce. Also higher was Chipotle Mexican Grill (CMG), which rose nearly 14% to be the S&P 500's biggest gainer after the Mexican restaurant chain reported fourth quarter revenue that beat estimates and comparable restaurant sales that increased 9.3%. Among the noteworthy losers following their quarterly reports were software provider NetSuite (N), down more than 7% near noon, and pre-paid debit card provider Green Dot (GDOT), which fell over 16%. Also lower was Midstates Petroleum (MPO), down 14% after analysts at Morgan Stanley downgraded the stock to Equal Weight from Overweight, citing the company's disappointing production guidance. INDEXES: Near midday, the Dow was down 86.04, or 0.54%, to 15,762.57, the Nasdaq was down 9.38, or 0.23%, to 4,113.75, and the S&P 500 was down 5.32, or 0.30%, to 1,788.87.
News For GOOG;AMZN;WMT;CMG;ZNGA;N;GDOT;MPO From The Last 14 Days
Check below for free stories on GOOG;AMZN;WMT;CMG;ZNGA;N;GDOT;MPO the last two weeks.
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August 11, 2014
07:19 EDTGOOGGoogle settles suit over drug ads, to spend $250M on changes, Re/code says
Google has agreed to spend at least $50M a year for at least five years on an internal effort to make content about prescription drug abuse more visible and work with legitimate pharmacies to counter marketing by non-U.S. drug sellers as part of settlement to end shareholder lawsuits over accusations the company improperly allowed certain drug ads, reported Re/code, citing legal documents. Reference Link
06:23 EDTGOOGGoogle testing "Listen Now" music ads, WSJ reports
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05:37 EDTWMTWal-Mart downgraded to Hold from Buy at Jefferies
Jefferies downgraded its rating on Wal-Mart (WMT) shares to Hold from Buy saying the retailer's investment spending may not be yielding positive results. The firm sees risk to Wal-Mart's annual guidance from elevated expenses and lackluster sales. It dropped its price target for shares to $76 from $89. The stock closed Friday up 72c to $74.67.
August 10, 2014
16:51 EDTGOOGCourt rejects $324M settlement in tech hiring conspiracy, NYT says
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15:44 EDTAMZNAmazon urges customers to express opinions on e-book prices with Hachette
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15:21 EDTAMZNAmazon stops preorders of some Disney movie titles, WSJ says
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August 9, 2014
16:17 EDTWMTChina regulators investigate Wal-Mart store in Shenzhen, Reuters says
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August 8, 2014
16:16 EDTGOOGU.S. judge rejects Apple, Google antitrust hiring accord, Bloomberg reports
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16:00 EDTZNGAOptions Update; August 8, 2014
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12:08 EDTGOOGUpcoming Google tablet may feature 8 MP rear camera, PhoneArena says
Google's upcoming Nexus 8 tablet will feature an 8 MP rear camera, a 64 bit Tegra processor, 4 GB of memory, and the Android L operating system, without any HTC Sense overlay, according to PhoneArena, which cited various leaks and comments from an IHS analyst. Reference Link U
10:00 EDTCMGOn The Fly: Analyst Downgrade Summary
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09:37 EDTWMT, ZNGAActive equity options trading on open
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09:15 EDTZNGAOn The Fly: Pre-market Movers
HIGHER: NVIDIA (NVDA), up 4.2%, upgraded at Needham following its better than expected Q2 results... Arista Networks (ANET), up 8%, upgraded at Citigroup following better than expected Q2 results, announcing an expanded strategic relationship with VMware (VMW)... Tekmira Pharmaceuticals (TKMR), up 17.5% after announcing that the FDA verbally confirmed they have modified the full clinical hold placed on its TKM-Ebola treatment to a partial clinical hold... Gap (GPS), up 4.7% after July same-store sales rose 2%, company issues Q2 EPS outlook above the consensus estimate... lululemon (LULU), up 2.4% after founder agrees to sell half his stake to Advent for $845M. UP AFTER EARNINGS: SolarCity (SCTY), up 1%... Assured Guaranty (AGO), up 9%... MercadoLibre (MELI), up 13.6%. LOWER: Zynga (ZNGA), down 6% after lowering fiscal 2014 guidance... McDonald's (MCD), down 0.4% after Chinese supplier issue contributes to July comparable sales drop of 2.5%.
08:47 EDTZNGANorthland recommends buying Glu Mobile aggressivley on weakness related to Zynga
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07:41 EDTCMGChipotle downgraded at Longbow
As previously reported, Longbow downgraded Chipotle to Neutral from Buy. The firm downgraded shares based on valuation.
07:10 EDTAMZNAmazon executive defends $2B investment in India, WSJ says
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06:50 EDTCMGChipotle downgraded to Neutral from Buy at Longbow
06:37 EDTGOOGMotorola to be sales arm for Lenovo to increase global shipments, DigiTimes says
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06:01 EDTGOOGYahoo to strengthen email encryption for users, Mashable reports
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05:45 EDTZNGAZynga price target lowered to $3 from $4.50 at Piper Jaffray
Piper Jaffray lowered its price target for Zynga shares to $3 after delayed game launches drove the company's Q2 miss and reduced outlook. Piper says it is taking a "wait and see approach" on Zynga's entrance into two new game genres with the NFL and Tiger Woods. It keeps a Neutral rating on the stock.
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