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May 4, 2012
06:17 EDTPEP, BA, BLK, UAL, GSOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Goldman Sachs (GS) will introduce a bond trading platform where it will charge lower fees than on typical bond trades, sources say, to help keep customers looking at trading venues being set up by BlackRock (BLK) and others, the Wall Street Journal reports...PepsiCo (PEP) is bringing back Michael Jackson to try pump up its flagship cola, three years after the singer's death, in a deal with Jackson's estate, saying it will roll out 1B Pepsi cans with a silhouette of Jackson, the Wall Street Journal reports...REUTERS: China agreed to increase to 49% the limit on foreign ownership in domestic joint venture securities firms and allow these brokerages to trade commodities and financial futures, a U.S. official says, Reuters reports...United Airlines (UAL) is planning an order for at least 100 Boeing (BA) 737 narrow body jets potentially worth $10B at list prices, sources say, Reuters reports...BLOOMBERG: Oil slid to its lowest level in over three weeks, heading for a weekly decline before the monthly U.S. jobs report, and after services and manufacturing output in the euro region fell more than expected, Bloomberg reports...Norway’s sovereign wealth fund sold all its Irish and Portuguese government bonds after rejecting the Greek debt swap, warning that Europe faces considerable challenges, Bloomberg reports.
News For GS;BLK;PEP;UAL;BA From The Last 14 Days
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September 25, 2015
08:10 EDTPEPPepsiCo Q3 should mark earnings trough, says JPMorgan
JPMorgan analyst John Faucher expects PepsiCo's earnings to trough in Q3 as currency headwinds peak. Earnings growth acceleration and gross margin upside position the stock well heading into 2016, the analyst argues. He reiterates an Overweight rating on PepsiCo with a $110 price target.
06:29 EDTBAAirbus engages in wireless initiative for planes, WSJ reports
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September 24, 2015
19:26 EDTUALUnited's pilot union says adamantly opposed to fuel monitoring
In a letter to United pilots, United Master Executive Council chairman Jay Heppner states, "Let me be very clear at the onset: The UAL MEC policy manual clearly states that we 'deem any fuel monitoring program using identified pilot information as promoting unsafe practices such as competitive flying.' While we 'endorse the most conservative fuel load, whether it is the dispatcher's fuel or the captain's fuel,' we fully support the captain's authority to plan his fuel load without undue influence from any monitoring program. Such programs have been used in the past to coerce captains to not add fuel when, in their judgment, they may have felt it prudent to do so. The tracking and scoring of captain's fuel loads can also lead to other issues; not the least of which is a degradation to safety and captain's authority. Fuel tracking can also lead to pilot pushing, intimidation and harassment by management in order to force compliance with 'fuel policy.' ALPA has worked tirelessly to ensure all captains have the tools necessary to make the safest and most appropriate decisions regarding fuel loads and all other decisions pertaining to every aspect of the preflight planning process. We are not necessarily opposed to a company fuel policy, but we are adamantly opposed to 'fuel tracking,' 'fuel monitoring' and 'competitive flying.'" Reference Link
18:43 EDTBABoeing chairman sees reauthorization of U.S. Export-Import Bank, Reuters says
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16:34 EDTBABoeing opens manufacturing research center in South Carolina
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15:52 EDTBLKOptions with increasing volume; RIG YNDX BLK BBBY TOL HES CC
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10:19 EDTBADelta increases service between New York-JFK and Tel Aviv
Delta Air Lines (DAL) will add four weekly year-round flights between its New York-JFK hub and Tel Aviv beginning May 26, 2016. The new flights will be available for sale beginning Saturday, Sept. 26, 2015. The additional flights will complement Delta's existing daily service to Tel Aviv for a total of 11 weekly flights between the two cities and third largest trans-Atlantic market. Delta will operate the added flights with a 291-seat, Boeing (BA) 777-200ER, which is Wi-Fi equipped so customers can stay connected at 30,000 feet.
10:13 EDTBLKHigh option volume stocks
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08:02 EDTPEPPepsiCo sustainability initiatives delivered $375M in cost savings since 2010
07:51 EDTBAThe Wings Club holds a luncheon meeting
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07:43 EDTBAMarket overly negative on Aerojet Rocketdyne, says Oppenheimer
After Boeing (BA) rejected an unsolicited offer from Aerojet Rocketdyne (AJRD) for United Launch Alliance, a 50/50 joint venture of Boeing and Lockheed Martin (LMT), Oppenheimer thinks the market's reaction to the news ignores Aerojet's positive catalysts. The firm says that the news will not impact Aerojet's operations until 2019 and will probably not have an impact of more than about $115M. The firm keeps a $26 price target and Outperform rating on Aerojet.
07:10 EDTGSBanks clash with regulators over energy lending, WSJ reports
Banks are fighting with regulators over loan reviews that might compress the flow of net credit to the oil patch, the Wall Street Journal reports. The disagreement is focused on the narrow issue of loans secured by oil and gas companies' reserves, but it highlights the point of how postcrisis regulation of the financial industry impacts sectors outside of Wall Street, the report says. Caught in between banks and regulators are the small and medium exploration and production companies that rely on credit lines using their energy reserves as collateral, the report says. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
September 23, 2015
20:08 EDTUALChinese president visits U.S. amid cybersecurity, copyright worries
As part of his first official U.S. visit, Chinese president Xi Jinping held a meeting with American business leaders on Wednesday to address concerns of copyright infringement and cybersecurity, among numerous topics. In attendance were corporate giants from both nations, including Microsoft (MSFT), Apple (AAPL), Amazon (AMZN), Cisco (CSCO), Alibaba (BABA), Tencent (TCEHY), and Baidu (BIDU), according to media reports. COPYRIGHT CONCERNS: Responding to oft-cited concerns of copyright infringement by Chinese companies, Xi said China will "stand firm to protect" the intellectual property rights of American companies, according to Wall Street Journal coverage of the event. Note that in late 2014, China began establishing specialized courts to deliberate on intellectual property rights cases, and Xi commented Wednesday that "the newly established IPR courts are working smoothly. This means there will be much stronger IPR protection which will serve the interests of foreign businesses as well as Chinese companies." Chinese consumer electronics company Xiaomi is perhaps the most talked-about firm when it comes to the matter, with media outlets frequently criticizing its alleged "copying" of Apple design sensibilities. In mid-July, Xiaomi VP of global operations Hugo Barra told Bloomberg that the company is preparing to enter U.S. markets, though he cautioned that the launch could be "much more" than a year away as it seeks to build up its patent portfolio. CYBERSECURITY TENSIONS: Wednesday's meeting comes in the wake of numerous high-profile "hack attacks," with Sony (SNE), American Airlines (AAL), Anthem (ANTM), United Airlines (UAL), and Target (TGT) all reporting digital security breaches in recent years. Xi has consistently denied the involvement of state-backed hackers, but tensions have nevertheless arisen as cybersecurity firms such as FireEye (FEYE) and Palo Alto Networks (PANW) backtrace connections to the country. Cybersecurity intrusions originating from China have recently slowed ahead of Xi's visit, according to Reuters, with Kevin Mandia of security firm Mandiant telling the publication, "In my gut, I feel like the Chinese and the U.S. over the next couple of years are going to figure this out."
16:34 EDTBAOn The Fly: Top stock stories for Wednesday
Stocks began the day in quiet fashion and remained that way during the first hour of trading. Following the release of the weekly energy inventory report, the averages moved lower and looked to be possibly setting up for another selloff. Positive comments on China's economy by its President, who is visiting the U.S., brought out buyers, who pared the market's losses. The averages finished slightly in the red in a day marked by low volume as a number of market participants may have been absent in observance of the Jewish holiday of Yom Kippur. ECONOMIC EVENTS: In the U.S., Markit's flash manufacturing purchasing manager's index was flat at 53.0 in September, which was slightly better than the expectation for it to dip to 52.8. EIA inventory data showed a 1.93M barrel fall in crude oil inventories, versus expectations for a weekly drawdown of 1.25M barrels. In China, Markit's flash manufacturing PMI fell to 47.0 in September from 47.3 last month. In Europe, Markit's composite PMI for the eurozone came in at 53.9 in the first look for September, down from 54.3 in August and below expectations for a reading of 54.1. COMPANY NEWS: Shares of Volkswagen (VLKAY) trading in New York rebounded 6.5% to $27.10 following the resignation of Chief Executive Officer Martin Winterkorn, with the company's supervisory board subsequently praising the decision and saying it will consider his replacement at a meeting Friday. Prior to the CEO change news, the stock was downgraded at research firms JPMorgan, Deutsche Bank and Natixis to hold or equivalent ratings this morning. Accounting for today's advance, U.S.-listed shares of Volkwagen are still down nearly 29% since last Friday, when the EPA publicly accused the automaker of equipping certain diesel cars sold in the U.S. with software that circumvented emissions standards... Against the backdrop of China's President Xi Jinping visiting the U.S., Boeing (BA) announced deals to sell 300 planes to three Chinese companies and set up an aircraft factory in China. The deals are possibly worth tens of billions of dollars in total and represent the largest total order the planemaker has received from Chinese companies, according to Reuters. The Wall Street Journal reported, citing people familiar with the matter, that Cisco (CSCO) plans to announce a partnership with Chinese server maker Inspur Group during President Xi Jinping's visit. MAJOR MOVERS: Among the notable gainers was First Niagara (FNFG), which advanced $1.30, or 14.5%, to $10.26 following a Bloomberg report that the company is exploring a sale. DealReporter noted that potential suitors include Toronto-Dominion Bank (TD), Huntington Bancshares (HBAN) and New York Community Bancorp (NYCB). BioMed Realty (BMR) gained $2.36, or 12.3%, to $21.54 after Bloomberg reported that the company is in talks to sell itself and has attracted attention from firms including Blackstone (BX). Heron Therapeutics (HRTX) rose $7.25, or 21.6%, to $40.81 after announcing that its Phase 2 study of HTX-011 for post-operative pain met its primary endpoint. Shares of a competitor Pacira (PCRX) declined 7.65% after the news, with several analysts remarking that Heron's data compares favorably versus Pacira's Exparel drug. Summit Midstream Partners (SMLP) declined $3.90, or 18.2%, to $17.52 following a Bloomberg report that Energy Capital Partners is seeking to sell its stake in the company. Synchronoss (SNCR) fell 10.75% to $33.37 after research firm Baird said it has become "increasingly concerned" that Verizon (VZ) is "no longer fully committed" to the white-label cloud product it offers in conjunction with the cloud services provider. INDEXES: The Dow fell 50.58, or 0.31%, to 16,279.89, the Nasdaq lost 3.98, or 0.08%, to 4,752.74, and the S&P 500 declined 3.98, or 0.2%, to 1,938.76.
16:29 EDTBABoeing to partner with COMAC to open facility in China
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16:28 EDTBABoeing broadens long-term collaboration with AVIC
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16:27 EDTBABoeing confirms agreement with CASC for purchase of 300 airplanes
Boeing and China Aviation Supplies Holding Company have signed a General Terms Agreement related to the purchase of 300 airplanes. The package has a value of approximately $38B at list prices. Aircraft orders and commitments include: (240) airplanes for Chinese airlines, including (190) 737s and 50 widebody aircraft (60) 737s for leasing companies ICBC and CDB Leasing.
09:18 EDTBA, PEPPaulson Institute and CCPIT to co-host U.S.-China Business Roundtable
The Paulson Institute and the China Council for the Promotion of International Trade (CCPIT) provide an opportunity for U.S. and Chinese business leaders to discuss issues facing the two countries in a roundtable being held in Seattle, Washington on September 23.
07:47 EDTBABoeing to sell 300 planes to Chinese companies, Reuters reports
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06:24 EDTBANew Boeing tanker to make first flight Friday, WSJ reports
Boeing's new refueling tanker is scheduled to make its first flight as soon as Friday, the Wall Street Journal reports, citing the Pentagon. The flight will initiate a series of tests on one plane over a four-month period, the report says. Reference Link
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