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Stock Market & Financial Investment News

News Breaks
January 4, 2013
06:09 EDTDDAIF, C, MS, GS, GOOG, WFC, USB, TM, FIATY, BAC, JPMOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Investors are leaving mutual funds managed by professional stock pickers and moving large amounts of money into lower-cost funds that echo the broader market, the Wall Street Journal reports...Last month cautious U.S. consumers restrained their spending, resulting in a disappointing holiday season for retailers at what is usually their busiest time of the year. Indications are that profit margins will suffer, as much of the holiday shopping was late and at discounted prices, the Wall Street Journal reports...REUTERS: Global shares, oil and copper moved lower today, and the dollar gained after Fed officials raised concerns about possible side effects of its stimulus program, Reuters reports...Fiat (FIATY) plans to exercise an option to buy an additional 3.3% in Chrysler Group LLC for $198M, the latest step in its move to buy out the U.S. automaker's minority shareholder, a retiree healthcare trust fund called VEBA, affiliated with the UAW. Fiat now owns 58.5% percent of Chrysler, while the trust owns the rest, Reuters reports...BLOOMBERG: Google (GOOG) Executive Chairman Eric Schmidt may travel to North Korea over opposition from the U.S. State Department, becoming the highest-profile businessman to visit there since Kim Jong Un succeeded his father as leader just over a year ago, Bloomberg reports...BMW sales jumped 39% in the U.S. last month to beat Daimler’s (DDAIF) Mercedes-Benz in luxury-auto deliveries for the year as U.S. light-vehicle sales reached the highest level since 2007. Toyota’s (TM) Lexus was third, Bloomberg reports.
News For GS;JPM;USB;MS;BAC;WFC;C;FIATY;GOOG;DDAIF;TM From The Last 14 Days
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July 21, 2015
06:07 EDTMSONUG: Yahoo hires VP of global network from Symantec
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05:34 EDTGOOGPayPal initiated with an Underweight at Piper Jaffray
Piper Jaffray analyst Gene Munster started shares of PayPal (PYPL) with an Underweight rating saying increased competition could pressure the stock's multiple over the next 6-24 months. Underweight is Piper's equivalent of a sell rating. Google's (GOOG) Android Pay and Apple's (AAPL) Apple Pay will give consumers a "real alternative to PayPal" for the first time, Munster tells investors in a research note. In addition, interest in payments from Amazon.com (AMZN) and Facebook (FB) bring potential for more digital wallet offerings, the analyst notes. Munster set a $30 price target for PayPal, which began trading yesterday following a spinoff from parent company eBay (EBAY). Shares of the online payment system closed Monday up $2.08 to $40.47.
July 20, 2015
16:01 EDTC, BACOptions Update; July 20, 2015
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14:33 EDTTMGoPro, Toyota partner to put camera mount in Tacoma, Wired says
GoPro (GPRO) and Toyota (TM) are partnering to place a a GoPro camera mount on the roofline of every new 2016 Toyota Tacoma, a first for a carmaker, says Wired. Toyota will not supply the camera, added Wired. Shares of GoPro are up 6.5% while Toyota is up fractionally. Reference Link
13:40 EDTGOOGFormer Google Glass exective to become Evernote's new CEO, Re/code reports
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13:03 EDTC, WFC, JPM, GS, MS, BACFed proposes final rule on capital surcharges for largest U.S. banks
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12:16 EDTTMHERE 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).
12:08 EDTMSOn The Fly: Top stock stories at midday
Stocks on Wall Street were slightly higher at midday in the first trading day of a week that will be light on domestic economic data but heavy on earnings reports. Investors will be receiving profit reports from about 25% of the companies on the S&P 500 this week, making this the highest volume earnings week of this season. ECONOMIC EVENTS: In the U.S., no major data was released. In Europe, Greece reopened its banks three weeks after closing as the country worked out another bailout agreement. The country announced it has started the process of paying off its creditors, including the European Central Bank and the International Monetary Fund, with a bridge loan it just received. COMPANY NEWS: Lockheed Martin (LMT) agreed to buy the Sikorsky Aircraft business from United Technologies (UTX) for $9B, noting the price is "effectively reduced" to $7.1B after taking into account tax benefits resulting from the transaction. Shares of Lockheed, which also reported better than expected second quarter results and increased its fiscal year guidance, gained nearly 2% after the Sikorsky announcement and saying it will conduct a strategic review of its government IT infrastructure services business and technical services business... Shares of Morgan Stanley (MS) shares were little changed near noon after the bank reported earnings and revenue, excluding certain adjustments, that topped analysts' consensus forecasts... SunEdison (SUNE) announced a deal to acquire Vivint Solar (VSLR) for approximately $2.2B, payable in a combination of cash, shares of SunEdison common stock and SunEdison convertible notes. In connection with the proposed acquisition of Vivint Solar, SunEdison has entered into a definitive purchase agreement with a subsidiary of TerraForm Power (TERP) which, concurrently with the completion of SunEdison's acquisition of Vivint, will acquire Vivint Solar's rooftop solar portfolio, consisting of 523 MW expected to be installed by year-end 2015, for $922M in cash. Shares of Vivint rose 44% following the announcement, while SunEdison's stock gained 4% and TerraForm dropped 3%. Fellow residential solar installer SolarCity (SCTY), which is backed by Tesla's (TSLA) Elon Musk, rose 7% following the deal in the space. MAJOR MOVERS: Among the notable gainers was Exelixis (EXEL), which rallied 43% after the company reported that a study of cabozantinib in metastatic renal cell carcinoma met its primary endpoint of significant improvement in progression-free survival. The shares were indicated to rise even more in early pre-market trading, but lost some of their gains after Bristol-Myers (BMY) announced that its Opdivo study was stopped early after showing superior overall survival in a Phase 3 study of previously treated patients with advanced or metastatic renal cell carcinoma. Bristol-Myers rose a bit less than 1% to trade near $70 per share after its own announcement. Also higher was PayPal (PYPL), which gained more than 5.5% in its first day of trading after being spun out of eBay (EBAY). Meanwhile, eBay shares rose over 2%. Cal-Maine Foods (CALM) dropped 8% after posting lower than expected sales and profits in its fourth quarter and warning that while it should have an adequate supply of its primary feed ingredients, the company expects that prices will be "volatile" in the year ahead. Also lower were shares of several gold miners, including Barrick Gold (ABX) and Newmont Mining (NEM), which each fell about 11%, as gold prices declined about 2% near midday. INDEXES: Near midday, the Dow was up 31.66, or 0.18%, to 18,118.11, the Nasdaq was up 9.81, or 0.19%, to 5,219.96, and the S&P 500 was up 2.82, or 0.13%, to 2,129.46.
09:34 EDTBACActive equity options trading on open
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09:22 EDTMSOn The Fly: Pre-market Movers
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08:47 EDTMSMorgan Stanley CFO: Retail investor activity yet to increase from subdued levels
Morgan Stanley CFO Jonathan Pruzan said the firm's view on Wealth Management remains positive as the recovery plays out in the U.S., with growth expected to come from its bank strategy and fee-based program. "We continue to see softness in transactional revenues, which were down 8% compared to last quarter as retail investor activity has yet to increase from subdued levels," Pruzan added.
08:43 EDTMSMorgan Stanley CEO says firm should benefit from being overweight U.S.
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08:31 EDTGOOGGoogle Class A price target raised to $850 from $675 at Argus
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07:16 EDTJPMJPMorgan boosts Spanish bond holdings amid Greek deal, Bloomberg says
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07:10 EDTMSMorgan Stanley rises 3.8% to $41.75 in pre-market after Q2 earnings beat
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07:05 EDTMSMorgan Stanley reports tangible book value per common share $29.54
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07:04 EDTMSMorgan Stanley reports Q2 Wealth Management net revenues $3.9B
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07:01 EDTMSMorgan Stanley reports Q2 EPS ex DVA 79c, consensus 74c
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06:12 EDTGOOGStocks with implied volatility below IV index mean; GOOG WMB
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06:10 EDTGOOGYouTube advertisers surge 40% over past year, FT reports
The number of advertisers on Google's YouTube has increased more than 40% in the past year, the Financial Times reports. YouTube said that advertisers from the top 100 brands, ranked by Interbrand, were spending 60% more on advertising than last year, the report says. The website does not disclose revenue figures, but certain data show that it is benefiting from a surge in demand for digital video advertising as millennials spend more time on the site, the report says. Reference Link
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