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Stock Market & Financial Investment News

News Breaks
April 17, 2014
12:53 EDTDD, AXP, GOOG, WLP, ADS, MS, GS, SNDK, AET, BHI, UNH, GE, IBM, MU, PMOn The Fly: Midday Wrap
Stocks on Wall Street were mixed but near the flat-line at midday as investors sifted through a barrage of earnings reports from some of the world's biggest companies. Stock futures were pointing to a lower open in the early hours of the morning following last night's misses by two of the biggest names in tech. However, the futures moved off their lows as some other corporate giants reported better than expected earnings and weekly jobless claims also positively surprised, though the broader market opened slightly lower. The averages have managed to pare their losses throughout the morning and turn mixed. The market is on track to have it best weekly performance since last year if it can hold near current levels into the close. ECONOMIC EVENTS: In the U.S., initial jobless claims edged up 2K to 304K in the week ended April 12, though that was below the consensus 315K forecast of economists. The Philly Fed manufacturing index climbed to 16.6, beating expectations for a more modest uptick to 10.0. COMPANY NEWS: Two of the biggest names in technology, Google (GOOG) and IBM (IBM), both reported revenue that missed expectations last night, which weighed on both of their stocks. Google, which also missed expectations for earnings per share, slid over 4% near noon, while shares of IBM were down over 3%... In addition to IBM, five other Dow components reported on their just ended quarters: General Electric (GE), which rose over 2%, UnitedHealth (UNH), which declined more than 3.5%, American Express (AXP), which slid about 2%, DuPont (DD), which fell 1%, and Goldman Sachs (GS), whose shares were little changed near midday... Among the many other companies that reported after last night's closing bell and this morning's open, Baker Hughes (BHI) and Morgan Stanley (MS) advanced, while Phillip Morris International (PM) and Alliance Data Systems (ADS) declined. MAJOR MOVERS: Among the notable gainers was SanDisk (SNDK), which advanced 10% after the company's quarterly results topped analysts' consensus estimates and the company raised its adjusted gross margin outlook. SanDisk peer Micron (MU), which issued its own quarterly report two weeks ago today, also rose 5%. Among the noteworthy losers were a number of health insurers following the quarterly report from UnitedHealth, which is the largest company in the sector. Shares of peer WellPoint (WLP) slid almost 4%, while Aetna (AET) fell 3%. INDEXES: Near midday, the Dow was down 7.07, or 0.04%, to 16,417.78, the Nasdaq was up 8.54, or 0.21%, to 4,094.76, and the S&P 500 was up 2.20, or 0.12%, to 1,864.51.
News For GOOG;IBM;SNDK;AXP;GE;GS;DD;UNH;MS;PM;BHI;ADS;MU;AET;WLP From The Last 14 Days
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April 7, 2015
09:19 EDTIBMCLSA holds an analyst/industry conference call
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09:05 EDTMUMicron management to meet with Oppenheimer
Meeting to be held in Texas on April 13 hosted by Oppenheimer.
08:20 EDTAETCowen expects managed care stocks to outperform following CMS release
Cowen expects managed care stocks to outperform today following the CMS release outlining better than expected Medicare Advantage rates for 2016. The firm also sees improved FFS growth rates, maintained coding intensity adjustment, and continued HRA payments. Publicly traded companies in the space include Aetna (AET), Cigna (CI), Health Net (HNT), Humana (HUM), and WellCare (WCG).
08:11 EDTMS, GSGoldman Sachs, Morgan Stanley estimates raised at Susquehanna
Susquehanna raised its estimates for both Goldman Sachs (GS) and Morgan Stanley (MS) to reflect a strong quarter for FICC driven by interest rate and currency volatility and more stable credit markets as well as better I&L. Susquehanna maintains Neutral ratings on both Goldman Sachs and Morgan Stanley shares.
07:57 EDTUNHManaged care companies likely to rise on CMS news, says Oppenheimer
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07:51 EDTAXPAmerican Express downgraded at Oppenheimer
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07:44 EDTUNH, AETSome managed care stocks could be boosted by CMS decision, says Stifel
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07:41 EDTAET, UNH2016 MA rates positive for first time in seven years, says Deutsche Bank
Deutsche Bank notes that for the first time since 2009, Medicare Advantage rates will be positive after the Centers for Medicare and Medicaid Services announced yesterday that final 2016 rates will rise by 1.25%, representing a 220 basis points favorable swing from the preliminary proposed cut of 0.95%. Deutsche says the positive surprise is "somewhat tempered" by the more cautious view on Medicare cost trends provided by the CMS actuaries in the final 2016 rate announcement. The firm expects Humana (HUM), Health Net (HNT) and UnitedHealth (UNH), Aetna (AET) and Anthem (ANTM) to experience Medicare Advantage rate increases.
07:16 EDTAXPRising competition may make AmEx targets hard to achieve, WSJ says
Though American Express recently reaffirmed its long-term targets for growing revenue 8% per year or better and earnings per share by 12%-15% per year while increasing operating expenses by less than 3% per year, there are good reasons to be skeptical about its ability to hit those targets, according to The Wall Street Journal's "Heard on the Street" column. Competition from peer Visa (V) as well as big banks such as Citi (C) and Bank of America (BAC) may put pressure on AmEx’s margins and it is not safe to assume that the company will always fare as well on the Fed's stress tests as it just did, the report stated. Reference Link
07:03 EDTGOOGCyrusOne announces direct connectivity to Google Cloud Platform
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07:00 EDTDDDuPont, proxy advisory firm to meet this month, Reuters reports
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06:56 EDTAETAetna CEO sees 'groundswell' of wage increases in coming months, WSJ reports
Mark Bertolini, the CEO of Aetna, says he believes there will be a "groundswell" of pay increases for the lowest-paid employees at big companies in the next few months, The Wall Street Journal reports. Bertolini commented at a Peterson Institute for International Economics event that he believes "there are a number of CEOs that will come out in the next six months with wage increases that will matter." Reference Link
06:46 EDTGOOGApple Pay, Google Wallet could see competition from CurrentC, Macworld says
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06:36 EDTAXPAmerican Express downgraded to Underperform from Perform at Oppenheimer
06:31 EDTIBMIBM an unlikely target for activists, Reuters columnist says
Shareholders calling for activist investors to take aim at IBM are likely to be disappointed, according to a Reuters columnist. The company has already carried out a great deal of financial engineering, and it will probably need to spend heavily on R&D and invest in its business for a couple of years in order to turn itself around, the columnist believes. Reference Link
06:25 EDTGOOGGroups urge authorities to probe YouTube app, Reuters says
Advocacy groups say they will urge federal regulators to probe a video app for Google's YouTube, according to Reuters. Aimed at children, the app deceptively blends video programming and ads, the news service quoted the groups as saying. Reference Link
06:21 EDTGOOGGoogle Ventures leading $12M investment in CoreOS, Business Insider reports
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06:00 EDTGOOGTurkey restores access to YouTube, Twitter, Facebook, FT reports
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05:59 EDTMUMicron implied volatility of 23 at lower end of index mean range
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05:48 EDTUNHCatamaran downgraded to Hold from Buy at Jefferies
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