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Stock Market & Financial Investment News

News For GS;BA;FB;MS;DELL;BAC;JPM From The Last 14 Days
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April 20, 2015
12:31 EDTMSOn The Fly: Top stock stories at midday
Stocks on Wall Street were higher at midday after China’s central bank relaxed reserve requirements for its banks. The nation's own stock market struggled to overcome the cross current of other actions taken to cut down on speculative trading there, but U.S. stock markets surged at the open and had not looked back by midday. The domestic economic calendar has quiet and earnings continue to be the focal point at home, as a great number of S&P 500 companies prepare to report this week. ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index had a reading of -0.42, versus expectations for a +0.10 reading. A reading below zero represents economic activity below trend. In China, the People's Bank of China cut the reserve-requirement ratio, or the amount of reserves lenders need to hold, by 1 full percentage point, which was the biggest cut since the depths of the financial crisis and more than expected by economists. However, the Shanghai Composite Index still dropped 1.6%, since the reserve-requirement cut came after regulators had moved to curb speculative trading with actions taken Friday. COMPANY NEWS: Shares of Morgan Stanley (MS) advanced 1% after the bank's headline earnings excluding certain adjustments and tax benefits beat expectations. CEO James Gorman noted that the first quarter of the year was the bank's "strongest quarter in many years with improved performance across most areas of the firm." Morgan Stanley also increased its quarterly dividend to 15c per share from 10c per share. MAJOR MOVERS: Among the notable gainers was Hasbro (HAS), which gained 10% after the toymaker's sales and profits widely topped expectations in its fiscal first quarter. Also higher was Rovi (ROVI), which gained more than 10% after the company announced it has renewed its patent license and interactive program guide product agreement with Charter Communications (CHTR). Among the noteworthy losers was FARO Technologies (FARO), which dropped 25% and was downgraded by Noble Financial and Needham after the preannounced lower than expected first quarter revenue. Also lower were a number of companies that are developing CAR-T cancer therapies following the annual meeting of the American Association for Cancer Research. Mizuho analyst Peter Lawson attributed the pullback to disappointment in this weekend's solid tumor data on a small number of patients with advanced cancers who were given CAR-T therapy developed by Novartis (NVS) and the University of Pennsylvania. Shares of Kite Pharma (KITE), Juno Therapeutics (JUNO), blue bird bio (BLUE), and ZIOPHARM Oncology (ZIOP) were all lower near noon. INDEXES: Near midday, the Dow was up 236.19, or 1.32%, to 18,062.49, the Nasdaq was up 59.54, or 1.21%, to 4,991.35, and the S&P 500 was up 21.82, or 1.05%, to 2,103.00.
10:38 EDTFBFacebook volatility elevated into Q1 and outlook
Facebook April weekly call option implied volatility is at 73, May is at 39, June 30, September is at 29; compared to its 26-week average of 30 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 22.
09:36 EDTFBActive equity options trading on open
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09:35 EDTMSMorgan Stanley trades up after results
Shares are up 1.5% at time of writing to $37.32 following earnings. At that price resistance is at $38.14 and then the 52-week high at $39.19. Support is at $36.75, the prior session close.
09:18 EDTMSOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Morgan Stanley (MS), up 2.1%... Cliffs Natural (CLF), up 1.3%... Check Point Software (CHKP), up 1.1%. ALSO HIGHER: Genetic Technologies (GENE), up 28.2% after additional health centers to offer BREVAGenplus... Hanwha Q Cells (HQCL), up 16.2% following solar module supply agreement with NextEra Energy (NEE)... Provectus (PVCT), up 6.7% after receiving notice of allowance for PV-10 combined with other drugs. DOWN AFTER EARNINGS: Royal Caribbean (RCL), down 6.1%... FARO (FARO), down 16.4%. ALSO LOWER: Yandex (YNDX), down after Barron's recommends that investors take some profits... Carnival (CCL), down 2% after Royal Caribbean reported quarterly results.
09:09 EDTMSMorgan Stanley CEO says 'big legal stuff' from crisis 'behind us'
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08:52 EDTMSMorgan Stanley CFO says M&A backlog higher than year-ago
Morgan Stanley CFO says underwriting pipeline similarly remains healthy, increasingly driven by acquisition activities. Porat added that although the path to sustainable higher returns is "not a straight line from here," but she is confident that "the road is a clear one." Morgan Stanley CFO Ruth Porat is speaking on the company's Q1 earnings call.
08:39 EDTMSMorgan Stanley CEO sees lower funding costs providing tailwind
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07:56 EDTFBFacebook Q1 results should beat expectations, says Oppenheimer
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07:43 EDTMSMorgan Stanley in talks to pay about $500M to settle NY AG probe, WSJ reports
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07:19 EDTMSMorgan Stanley increases quarterly dividend to 15c per share
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07:19 EDTMSMorgan Stanley reports book value $33.80 at March 31
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07:18 EDTMSMorgan Stanley CEO says Q1 was 'strongest quarter in many years'
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07:17 EDTMSMorgan Stanley reports Q1 compensation expense of $4.5B
Compensation expense of $4.5B increased from $4.3B a year ago, primarily driven by higher revenues. Non-compensation expenses of $2.5B increased from $2.3B a year ago, reflecting higher legal costs and volume driven expenses.
07:17 EDTMSMorgan Stanley reports Q1 EPS ex-DVA, ex-tax benefit 85c, consensus 78c
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07:17 EDTMSMorgan Stanley says results include net discrete tax benefit of 29c per share
Results for the current quarter included a net discrete tax benefit of $564M or 29c per diluted share primarily associated with the repatriation of non-U.S. earnings at a lower cost than originally estimated.
07:16 EDTMSMorgan Stanley reports Q1 ROE from continuing ops 10.1% ex-DVA and benefit
The annualized return on average common equity from continuing operations was 14.2% in the current quarter, or 10.1% excluding DVA and the net discrete tax benefit.
07:16 EDTMSMorgan Stanley reports Q1 continuing ops EPS $1.18, consensus 78c
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07:04 EDTFBFacebook Q1 results should beat expectations, says Cantor
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05:51 EDTFBEU calls for 'level playing field' in telecoms market, Financial Times reports
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