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Stock Market & Financial Investment News

News Breaks
February 8, 2013
06:01 EDTMCO, UAL, PEUGY, MHP, DAL, GS, JBLU, NSANYOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: Fed Board Governor Stein pointed to signs of overheating in some corners of the credit markets. He said there isn't an imminent threat to the wider financial system, but highlighted several markets—including junk bonds, mortgage real-estate investment trusts and commercial banks' securities holdings—as areas where potentially troubling developments are emerging, possibly as a result of the Fed's easy-money policies, the Wall Street Journal reports...For 20 years, Goldman Sachs (GS) has attracted clients to invest in its private-equity funds with the security blanket that the bank and its partners were in it too. But the looming "Volcker rule" is expected to sharply reduce the bank's investment in its own funds. That is forcing Goldman to make major changes in a $50B business. Goldman likely will have to shrink the size of its own investment in its funds to just 3% from as much as 37%, the Wall Street Journal reports...REUTERS: France would consider taking a stake in PSA Peugeot Citroen (PEUGY), Budget Minister Jerome Cahuzac said, hours after the struggling carmaker announced a $5.49B write down, Reuters reports...Nissan Motor (NSANY) has bucked the optimistic trend among Japanese carmakers reporting quarterly results, leaving its annual profit forecast unchanged as sluggish sales weighed on its bottom line while others got a boost from a weakening yen, Reuters reports...BLOOMBERG: U.S. airlines (DAL, UAL, JBLU) cancelled about 2,000 flights and braced for additional cancellations from a winter storm that threatens to drop as much as two feet of snow across parts of New England., Bloomberg reports...The Justice Department’s decision to sue Standard & Poor’s (MHP) has investors asking why Moody’s Investors Service (MCO) and Fitch Ratings weren’t targeted for awarding the same top grades to troubled mortgage bonds and other debt securities, Bloomberg reports.
News For GS;PEUGY;NSANY;DAL;UAL;JBLU;MHP;MCO From The Last 14 Days
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August 19, 2015
14:25 EDTGSCoca-Cola has option for outright purchase of Suja, Bloomberg says
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August 18, 2015
20:00 EDTUAL, DAL, JBLUAirline stocks fall as companies face probes, labor issues, WSJ says
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16:00 EDTDALOptions Update; August 18, 2015
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13:14 EDTGSNY court rules Goldman must face Abacus suit, Bloomberg reports
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06:45 EDTGSNine banks agree to $2B settlement for currency market rigging, FT says
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06:42 EDTGSGoldman buys stake in Piramal Realty, WSJ reports
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August 17, 2015
16:19 EDTGSSunEdison up 7% to $15.70 after forming asset facility with Goldman Sachs
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16:15 EDTGSSunEdison, Goldman Sachs fund form $1B construction, operating asset facility
SunEdison (SUNE) and West Street Infrastructure Partners III and affiliates, announced the formation of a new $1B warehouse investment vehicle, the WSIP Warehouse, to fund construction costs and to acquire operating assets. TerraForm Power (TERP) will have an exclusive call right over the warehoused assets. The WSIP Warehouse is a $1B investment vehicle with $300M equity committed, subject to certain conditions, by WSIP, the infrastructure fund managed by Goldman Sachs (GS). The debt structuring will be led by Morgan Stanley, Bank of America and Deutsche Bank and will provide commitments for $700M of debt in the form of a $500M, five-year term loan and a $200M, four-year revolving credit facility. SunEdison has the option to expand the facility by up to $1B to a total of $2B, subject to certain conditions. The decision to add additional warehouse capacity was completed following an analysis by SunEdison of its financing requirements through 2016 and after exploring alternative debt and equity transactions. SunEdison continues to explore financing alternatives, including upsizing its existing warehouse facilities and adding new warehouse facilities. Completion of the formation of the WSIP Warehouse and the financial close of the related debt facilities are subject to customary conditions and are expected to occur by Oct. 31, 2015.
16:12 EDTGSSunEdison, Goldman Sachs fund form $1B construction, operating asset facility
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06:06 EDTGSGoldman expected to take minority stake in India's Piramal Realty, Reuters says
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August 16, 2015
18:20 EDTDAL, UAL, JBLUFAA working with airlines to restore operations after August 15 cancellations
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August 14, 2015
16:44 EDTDALThird Point gives quarterly update on stakes
NEW STAKES: Baxter (BAX), T-Mobile (TMUS), Sealed Air (SEE), Devon (DVN), and Perrigo (PRGO). INCREASED STAKES: SunEdison (SUNE), Dow Chemical (DOW), Mohawk (MHK), Yum! Brands (YUM), and IAC/InterActiveCorp (IACI). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Sensata (ST), Masco (MAS), and Delta (DAL). LIQUIDATED STAKES: Dollar General (DG), McKesson (MCK), Edgewell Personal Care (EPC), Maxim (MXIM), and FleetCor (FLT).
16:37 EDTUAL, JBLUAppaloosa gives quarterly update on stakes, takes stake in Apple
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16:13 EDTGSOn The Fly: Top stock stories for Friday
Stocks began the session with modest losses despite a calm overnight trading session for the Chinese yuan. The U.S. economic data that was released prior to the open were generally in-line with expectations leaving little for investors to key in on during the market hours. As a result, the averages drifted several times across the flat line until finally moving higher in the afternoon. Even the price of crude was fairly stale throughout the session, but it still closed toward its low of the day. The market received a slight boost toward the end of the session when headlines out of Europe said the area's finance ministers agreed to implement the Greek bailout with a couple of additional measures. ECONOMIC EVENTS: In the U.S., both industrial production and PPI beat estimates, with industrial production increasing 0.6% and PPI increasing 0.2%. Consumer sentiment for August fell to 92.9 in the preliminary report from the University of Michigan survey, after slipping to 93.1 in July from 96.1 in June. Meanwhile, Euro-area GDP rose 0.3% last quarter. Germany's economy grew 0.4%, Italy's 0.2%, while France stagnated. The Baker Hughes North American rig count report was unchanged from last week at 884 rigs. COMPANY NEWS: Nelson Peltz's Trian Fund Management disclosed a new 7.08% stake in food distributor Sysco Corporation (SYY), and is engaged in discussions with the company including board representation for Trian. Sysco rose 7.4% to $41.38 after the disclosure of the Trian stake... General Electric (GE) announced an agreement to sell GE Capital Bank's U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (GS). Under this agreement approximately $16B of deposits will be transferred to GS Bank. Additionally, Reuters reported that General Electric was expected to win EU antitrust approval for its proposed EUR12.4B acquisition of Alstom's (ALSMY) power unit, according to two people familiar with the matter. GE rose 1.1% to $26.08 on the day. MAJOR MOVERS: Among the notable gainers following their earnings reports were department store retailers Nordstrom (JWN) and J.C. Penney (JCP), which gained 4.3% and 5.6%, respectively. Also higher was WuXi PharmaTech (WX), up 6.15%, which reported earnings and entered into an agreement to be acquired by a management buyout group for around $3.3B. Among the noteworthy losers was El Pollo Loco (LOCO), which dropped 20.7% after its Q2 revenue fell short of analysts' estimates. Also lower were shares of King Digital (KING), which declined nearly 20.7% after reporting quarterly earnings and forecasting gross bookings for the third quarter $460M-$485M, citing "recent trends." INDEXES: The Dow rose 69.15, or 0.4%, to 17,477.40, the Nasdaq gained 14.68, or 0.29%, to 5,048.23, and the S&P 500 advanced 8.15, or 0.39%, to 2,091.54.
12:37 EDTGSOn The Fly: Top stock stories at midday
Stocks began the session with modest losses, despite a stabilization in the Chinese yuan overnight. Relatively in line data on producer prices and industrial production did not hurt the situation, but there was also the lack of a catalyst. As a result, the market has drifted throughout the morning session moving up as much as 0.4% before paring its gains. The market is now struggling to hold onto its meager gains. ECONOMIC EVENTS: In the U.S., both industrial production and PPI beat estimates, with industrial production increasing 0.6% and PPI increasing 0.2%. Consumer sentiment for August fell to 92.9 in the preliminary report from the University of Michigan survey, after slipping to 93.1 in July from 96.1 in June. Meanwhile, Euro-area GDP rose 0.3% last quarter. Germany's economy grew 0.4%, Italy's 0.2%, while France stagnated. The Baker Hughes North American rig count report is out at 1 p.m. ET. COMPANY NEWS: General Electric (GE) announced an agreement to sell GE Capital Bank's U.S. online deposit platform along with all deposits of GE Capital Bank, including online savings accounts, online CDs and brokered CDs, to Goldman Sachs Bank USA (GS). Under this agreement approximately $16B of deposits will be transferred to GS Bank. Separately, Goldman Sachs is selling its Colombia coal mining division to privately held Murray Energy. General Motors (GM) is boosting production of its larger SUVs and trucks, according to Reuters. The automaker could make as many as 60,000 additional vehicles for the 2016 model year to capitalize on rising demand. Meanwhile, GM is recalling 73,424 small cars because improper wiring could prevent the roof-mounted driver's side air bag from deploying after a crash, the Associated Press reported. SunTrust analyst Robert Peck said he believes Twitter (TWTR) could announce a permanent CEO as early as next week. Peck continues to think Twitter is likely to unveil a "Triumvirate of leadership" with Jack Dorsey as CEO, Adam Bain as COO and Evan Williams with more board influence, possibly Chairman. Tesla's (TSLA) secondary offering of 2.7 million common shares was priced at $242 each, according to an SEC filing. That represents an increase from the 2.1 million shares Tesla had previously announced for the offering. MAJOR MOVERS: Among the notable gainers following their earnings reports were department store retailers Nordstrom (JWN) and J.C. Penney (JCP), which gained 5.35% and 5.95%, respectively. Also higher was WuXi PharmaTech (WX), up 5.45%, which reported earnings and entered into an agreement to be acquired by a management buyout group for around $3.3B. Cyberark Software (CYBR) also gained 1.8% after being upgraded to Outperform from Market Perform at Wells Fargo. Among the noteworthy losers was El Pollo Loco (LOCO), which dropped 18% after its Q2 revenue fell short of analysts' estimates. Also lower were shares of King Digital (KING), which declined nearly 12% after reporting quarterly earnings and forecasting gross bookings for the third quarter $460M-$485M, citing "recent trends." The company said fourth quarter gross bookings would be "fairly consistent sequentially." JPMorgan downgraded King Digital this morning to Neutral from Overweight citing an elevated risk profile following the results. INDEXES: Near midday, the Dow was up 42.43, or 0.24%, to 17,450.68, the Nasdaq was fractionally lower by 2.96, or 0.06%, to 5,030.59, and the S&P 500 was up 3.46, or 0.17%, to 2,086.89.
10:07 EDTDALDelta Air Lines management to meet with Sterne Agee CRT
Meeting to be held in Atlanta on August 19 hosted by Sterne Agee CRT.
08:32 EDTGSGoldman Sachs sells Colombia Natural Resources to Murray
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06:12 EDTGSGoldman Sachs sells Colombia Natural Resources to Murray, Reutes reports
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06:01 EDTDALDelta, Virtgin Australia Trans-Pacific alliance reauthorized by ACCC
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06:01 EDTDALDelta Air Lines implied volatility of 31 at lower end of index mean range
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