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Stock Market & Financial Investment News

News For GS;MS;BAC;JPM;BA;DELL;FB From The Last 14 Days
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February 11, 2016
17:16 EDTJPMJPMorgan CEO Jamie Dimon buys 500,000 shares of company stock, DJ says
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16:34 EDTBAOn The Fly: Top stock stories for Thursday
Stocks began the session deep in negative territory amid continued concerns about global growth, another drop in oil prices, renewed worries over the health of the European banking system after a poor report from Societe Generale and a surprise cut in interest rates by Sweden's central bank, putting its rates further into negative territory. Fed Chair Janet Yellen, who was giving her second day of "Humphrey-Hawkins" testimony, stayed the course and gave no indication that the central bank would change its current policy direction. The averages were jolted out their doldrums late in the day after The Wall Street Journal quoted a UAE Energy Minister as saying OPEC may consider a production cut, which brought oil off its lows and helped the average significantly cut their losses. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 269,000 last week, versus expectations for 280,000 first-time claims. Federal Reserve Chair Janet Yellen gave testimony to the Senate after presenting yesterday to members of the House of Representatives. In her testimony yesterday, Yellen said she was not certain whether she had the legal authority to cut rates into negative territory. However, other central banks around the world have recently been doing just that, with Sweden's Riksbank the latest. Sweden's central bank surprised analysts by cutting its main repo rate to minus 0.5% from minus 0.35%. Meanwhile, WTI crude oil settled down 4.5% at $26.21 per barrel, marking its lowest settlement since May 2003. Oil pared its losses in after-hours trading, however, after reports indicated that a UAE Energy Minister said OPEC members are ready to cooperate on a production cut. COMPANY NEWS: Shares of Cisco (CSCO) gained 9.6% to $24.68 after the company beat expectations for both sales and earnings, raised its dividend by 24% and approved a $15B increase to its stock repurchase program. On the opposite end of the Dow, Boeing (BA) dropped 6.8% to $108.45 after Bloomberg said the SEC is investigating its accounting and projections for its 787 Dreamliner and the 747 programs... Twitter (TWTR) dropped 4.5% to $14.31 after the company reported that its user base was flat last quarter. Research firm Pacific Crest responded to the news by downgrading the stock, with analyst Evan Wilson saying the stock may fall to as low as $11 per share as the "hope trade" ends... Tesla (TSLA) unexpectedly reported sharp losses for its fourth quarter, but its stock rallied 4.7% after the electric carmaker also projected that it will deliver 80,000-90,000 vehicles in 2016. MAJOR MOVERS: Among the notable gainers was The Fresh Market (TFM), which jumped 22% after Reuters reported that supermarket giant Kroger (KR) is in the second round of bidding for its smaller rival. Also higher was Pandora (P), which advanced 8.5% after the New York Times said the music service operator has held talks about selling the company and is working with Morgan Stanley to meet potential buyers. Also rising were shares of WebMD (WBMD), which added 4% after Ben Harrington said on his Betaville blog that the company is rumored to be working with Moelis to try to broker a deal with Walgreen Boots Alliance (WBA). Among the noteworthy losers was Mylan (MYL), which fell 18% after it reported quarterly earnings and announced it would buy Meda Aktiebolag for $9.9B. Incyte (INCY) fell 9.4% after the company reported earnings and said it would halt studies of its ruxolitinib drug to treat certain cancer tumors. Also lower were shares of Hampton Roads Bankshares (HMPR) which fell nearly 9% after agreeing to merge with Xenith Bankshares (XBKS). Xenith rose 1.5% following the deal announcement. INDEXES: The Dow fell 254.56, or 1.6%, to 15,660.18, the Nasdaq lost 16.75, or 0.39%, to 4,266.84, and the S&P 500 dropped 22.78, or 1.23%, to 1,829.08.
16:01 EDTJPM, BA, BACOptions Update; February 11, 2016
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15:21 EDTFBCLSA technology analyst holds an analyst/industry conference call
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14:08 EDTBABoeing removed from short-term buy list at Deutsche Bank
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13:42 EDTMSMorgan Stanley reshuffles wealth management division, Reuters reports
Morgan Stanley has reorganized its wealth management unit after the appointment of Andy Saperstein and Shelley O'Connor as co-heads, Reuters reports, citing a memo reviewed by Reuters and confirmed by a Morgan Stanley spokeswoman. Bill McMahon and Rick Skae will still be Morgan Stanley's two regional division heads, while Vince Lumia will assume responsibility for the strategic lead management group along with his role as the head of private wealth management, the report says. Reference Link
13:20 EDTFBMonster Worldwide plunges after Q4 sales fall short of estimates
Shares of Monster Worldwide (MWW) plunged after the company reported sales for the fourth quarter that fell below analysts' consensus estimates. The company also provided guidance for the first quarter that was lower than analysts expected. WHAT'S NEW: Before the market open, Monster Worldwide reported Q4 adjusted earnings per share of 12c, in line with analysts' consensus estimates, on revenue of $159.2M, which fell short of analysts' $166.94M consensus. Monster had previously forecast Q4 EPS of 10c-14c, excluding the impact of the JobKorea transaction. Revenue from the Careers-North America division was down 8% year over year in Q4 to $112.1M, the company said. Looking ahead, Monster's Q1 outlook was also below analysts' estimates. Monster said it expects adjusted EPS of 6c-10c, below the consensus of 13c, and cash EBITDA of $85M-$100M for FY16. CEO COMMENTARY: Commenting on the results, Monster Worldwide chief executive officer Tim Yates said that the company underperformed in North America in its transactional business due to "competitive pressures and seasonality." Yates added that the company has "implemented a number of actions" in order to improve its performance moving forward. WHAT'S NOTABLE: Separately, Monster Worldwide said that its Monster Social Job Ads, the company's programmatic social recruitment advertising platform, was extending its reach beyond Twitter (TWTR) to distribute job ads on Facebook (FB). STREET RESEARCH: After the earnings report, FBR Capital analysts Marvin Fong and William Bird downgraded Monster Worldwide to Market Perform from Outperform and lowered their price target on the shares to $3.50 from $8, citing employment market volatility, structural headwinds and the "still-small and nascent stage" of new growth initiatives. The analysts said that the company's outlook for Q1 and FY16 is materially below the Street, particularly the FY16 EBITDA guidance, which is 30% below estimates at the midpoint. Fong and Bird added that a choppy job market and execution risk are reasons to be more cautious on the stock. In addition, the analysts said that bookings have become a less reliable indicator of future sales growth and that pricing pressure and increased competition at the 1-to-49 employee category seems to be intensifying. PRICE ACTION: In afternoon trading, Monster Worldwide dropped 33.8% to $2.82. Shares are down over 48.5% over the last 12 months.
12:53 EDTBASpirit, Triumph use different accounting method than Boeing, says JPMorgan
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12:52 EDTFBStocks with call strike movement; FB C
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12:27 EDTBAOn The Fly: Top stock stories at midday
U.S. stocks are having another awful session as markets around the world continue to slide. The culprits are many: the prospects of slower global growth, the diminished power of central banks to prop up the markets, lower oil prices, renewed concern over the European banking system and the deleterious effect of negative interest rates are all being pointed to as contributors. Adding another dagger to the Dow is the slide in Boeing (BA), which is down nearly 10% following a report that the SEC is looking into its accounting practices. The Dow is leading the market lower with losses of about 2%, but the Nasdaq and S&P are sharply lower as well. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped to 269,000 last week, versus expectations for 280,000 first-time claims. Federal Reserve Chair Janet Yellen is back on Capitol Hill this morning, this time in front of the Senate after giving testimony yesterday to members of the House of Representatives. In her testimony yesterday, Yellen said she was not certain whether she had the legal authority to cut rates into negative territory. However, other central banks around the world have recently been doing just that, with Sweden's Riksbank the latest. Sweden's central bank surprised analysts by cutting its main repo rate to minus 0.5% from minus 0.35%. In Asia, Hong Kong markets re-opened after being closed in the first three days of the week for the New Year holiday and closed deeply in the red, catching up with recent global stock weakness. COMPANY NEWS: Shares of Cisco (CSCO) advanced 9% after the company beat expectations for both sales and earnings, raised its dividend by 24% and approved a $15B increase to its stock repurchase program. The stock was virtually the only bright spot for the Dow, which saw almost every other bluechip member slide, led by laggard Boeing after Bloomberg said the SEC may investigate its accounting and projections for its 787 Dreamliner and the 747 programs... The shares of Twitter (TWTR) are falling and hit a new 52-week low earlier in the session after the company reported that its user base was flat last quarter. Research firm Pacific Crest responded to the news by downgrading the stock, with analyst Evan Wilson saying the stock may fall to as low as $11 per share as the "hope trade" ends... Tesla (TSLA) unexpectedly reported sharp losses for its fourth quarter, but its stock rallied 7% after the electric carmaker also projected that it will deliver 80,000-90,000 vehicles in 2016. MAJOR MOVERS: Among the noteworthy gainers was Expedia (EXPE), which rallied 10% following the company's Q4 earnings report. Also higher were j2 Global (JCOM) and TripAdvisor (TRIP), which gained 16% and 17.5%, respectively, after reporting quarterly earnings. Among the notable losers was Mylan (MYL), which fell 18% after it reported quarterly earnings and announced it would buy Meda Aktiebolag for $9.9B. Also lower were Incyte (INCY), which fell 18.5% after the company reported earnings and said it was discontinuing studies of ruxolitinib for pancreatic cancer. Avon Products (AVP) and Monster Worldwide (MWW), slid 14% and 31%, respectively, after their own quarterly reports. INDEXES: Near midday, the Dow was down 351.43, or 2.21%, to 15,563.31, the Nasdaq was down 54.49, or 1.27%, to 4,229.10, and the S&P 500 was down 33.49, or 1.81%, to 1,818.37.
11:29 EDTBAOptions with increasing put volume
Options with increasing put volume; CPB JNPR OMF DWA CAH MAIN BA FLO DVN T COF
11:26 EDTMSNY Attorney General-led group confirms $3.2B settlement with Morgan Stanley
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11:19 EDTBABoeing puts active on SEC probe report
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11:00 EDTBABoeing falls on SEC probe report
The stock is down over 8.7% to $106.14. At that price next support is at the session low at $104.91 and then at $100.78. Resistance is at $108.18.
10:48 EDTBASEC investigating Boeing accounting for 747, Dreamliner, Bloomberg reports
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10:45 EDTBABoeing puts active after Bloomberg says SEC to probe accounting
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10:45 EDTBABoeing drops after report of SEC probe into accounting
Shares of Boeing are dropping sharply after Bloomberg reported that the SEC is investigating the company's accounting for the costs and expected sales of its Dreamliner and 747 jets. The probe centers on projections the company made about the two commercial jet programs, Bloomberg said, citing a source with knoweldge of the matter. Boeing shares are down $7.75, or 6.7% to $108.61 following Bloomberg's report.
10:39 EDTBABoeing down 6.5% after Bloomberg says SEC to probe accounting
10:38 EDTBABoeing facing SEC probe over accounting, Bloomberg says
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10:35 EDTGS, BACActive calls: EA MSFT SPY GS
Active calls: EA 2/19/16 60, MSFT 3/18/16 52.50, SPY 2/19/2016 185, GS 4/15/16 165, BAC 1/20/17 13
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