New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 20, 2014
16:27 EDTHD, TJX, RRGB, GM, SPLS, ICPT, CAT, URBN, ARX, DKSOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory and were never able to make it back to unchanged. There was little to lure buyers off the sidelines to buy, as the economic calendar remained quiet. Adding to the pressure was a speech by Philadelphia Fed President Charles Plosser, in which he mentioned the eventual raising of rates and the potential for that to come sooner than expected if the economy picks up steam. The retail sector led the losers following disappointing earnings reports from Dick’s Sporting Goods (DKS), Staples (SPLS), TJX (TJX) and Urban Outfitters (URBN). ECONOMIC EVENTS: In the U.S., no major economic data was released for the second day in a row. COMPANY NEWS: Home Depot (HD) led the few advancers on the Dow, rising $1.46, or 1.91%, to $77.96, after the company's earnings narrowly beat expectations and it raised its FY14 EPS view to come in-line with analyst consensus estimate. Caterpillar (CAT) was the weakest member of the blue chip index, sliding $3.83, or 3.63%, to $101.56, after it reported April dealer retail sales trends that weakened relative to March... General Motors (GM) shares fell $1.18, or 3.45%, to $33.07 after the company announced it is recalling an additional 2.42M vehicles in four separate U.S. recalls. The automaker added $200M to the charge it expects to take in Q2 related to its recalls, bringing the total potential charge up to $400M. MAJOR MOVERS: Among the notable gainers was Aeroflex (ARX), which rose $2.11, or 25.39%, to $10.42 after Cobham agreed to acquire the company for $10.50 per share in cash. Also higher was Red Robin Gourmet Burgers (RRGB), which advanced $7.95, or 12.45%, to $71.80 after its sales and profits beat expectations for its fiscal first quarter. Among the noteworthy losers was Dick's Sporting Goods, which fell $9.56, or 17.98%, to $43.60 after it issued a worse than expected outlook for the current quarter and fiscal year, pointing to weakness it sees continuing in its golf and hunting segments. Also lower were shares of Intercept Pharmaceuticals (ICPT), which fell $36.66, or 14.1%, to $223.34 as The Street reported that the company knew last January that a trial of its liver disease drug was halted partially due to patients' abnormal cholesterol levels, but did not disclose the information to investors. INDEXES: The Dow was down 137.55, or 0.83%, to 16,374.31, the Nasdaq was down 28.92, or 0.7%, to 4,096.89, and the S&P 500 was down 12.25, or 0.65%, to 1,872.83.
News For HD;CAT;GM;DKS;ICPT;RRGB;ARX;SPLS;TJX;URBN From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | all recent news | >>
February 23, 2015
13:47 EDTHDHome Depot technical comments before earnings
Subscribe for More Information
10:40 EDTGMGM ignition-switch deaths increase to 57, WSJ says
Subscribe for More Information
08:01 EDTDKSDick's Sporting board increases quarterly dividend by 10%
Subscribe for More Information
06:24 EDTGMGeneral Motors to legally challenge worker strike in Brazil, WSJ reports
Subscribe for More Information
February 22, 2015
14:20 EDTGMUAW chief says GM buyback proposal too much, premature, Reuters says
Dennis Williams, the president of the UAW, said that an investor group’s proposal that GM buy back $8B of its stock is premature, and the amount too high for the company’s long-term health, says Reuters. The UAW indirectly controls the largest single block of General Motors shares, added Reuters. Reference Link
February 20, 2015
08:11 EDTGMAlly CEO exploring subprime lending, sees loss of GM business, Detroit News says
Ally (ALLY) CEO Jeffrey Brown stated in a Thursday interview with The Detroit News that the company may return to offering credit cards and home mortgages, and currently plans to expand auto lending to subprime customers. The CEO said he expects to decide within 30-60 days whether Ally will consolidate its five locations to a single headquarters in the Detroit suburbs. Brown added that he expects GM (GM) to shift its $4.1B subsidized leasing program for Chevrolet from Ally to GM Financial, which the Ally CEO wants to offset by increasing subprime lending from 9% of total lending to 12%-15%. Reference Link
07:20 EDTSPLSWal-Mart wage increase may pressure Target, Staples, Reuters says
Wal-Mart's (WMT) wage increase announcement will likely pressure the retail, fast-food, and restaurant sectors to potentially follow suit, reports Reuters, citing an Edward Jones analyst and the managing director of consultancy firm Strategic Resource Group. The analysts specifically named Target (TGT) and Staples (SPLS). Reference Link
07:04 EDTGMAlly CEO assuming company will lose all of GM's leasing business, Reuters says
Subscribe for More Information
06:41 EDTGMApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
06:10 EDTHDHome Depot volatility increases into Q4 and outlook
Home Depot March weekly call option implied volatility is at 33, March is at 24, April is at 19, August is at 18; compared to its 26-week average of 21 according to Track Data, suggesting non-directional price movement into the expected release of Q4 results on February 24.
06:06 EDTGMGeneral Motors names Craig Glidden as new general counsel
General Motors (GM) announced yesterday that Craig B. Glidden has been appointed executive VP and general counsel, effective March 1. Glidden will lead a team of staff attorneys who are integrated into all of GM’s regional and functional teams in more than 30 countries. Glidden succeeds Michael Millikin, who is retiring in July after a nearly four-decade legal career, including five years as GM’s general counsel. Before joining GM, Glidden was executive VP and chief legal officer for LyondellBasell Industries (LYB).
February 19, 2015
16:31 EDTICPTIntercept promotes Lisa Bright to Chief Commercial & Corporate Affairs Officer
Intercept Pharmaceuticals announced that Lisa Bright has been promoted to the newly-created position of Chief Commercial and Corporate Affairs Officer. Bright joined Intercept last year from Gilead Sciences where her leadership of the European launch of Sovaldi for the treatment of chronic hepatitis C contributed to the most successful product launch in pharmaceutical history.
11:11 EDTCATCaterpillar retail trends remain negative, says Wells Fargo
After Caterpillar reported earlier that its retail sales of machine declined 14% in the three month period ending in January, Wells Fargo noted that the trend worsened from December's 12% drop and that all regions reported declines. The firm believes retail trends remain negative for Caterpillar shares, on which it keeps a Market Perform rating.
09:09 EDTCATCaterpillar reports retail machines sales down 14% in three months end January
Caterpillar reported in a filing that its total retail machines sales were down 14% on a three month rolling basis in January. For reference, retail sales of machines were down 12% in the period ending in December and were down 10% in the period ending in November. The company reported world Resources Industries sales down 27% in the January period, which was down fom the 22% drop in the December end period. Construction Industries world sales were down 10%, worse than the 9% drop in the December period. Total Energy & Transportation Retail Sales were up 22% in the January end period, which was the same growth rate as seen in the December period.
07:20 EDTCATCaterpillar facing multiple federal investigations, WSJ says
Subscribe for More Information
February 18, 2015
06:38 EDTGMCar sales rose in Europe last month, NY Times says
European car sales increased 6.7% in January, versus the same period a year earlier, data from the European Automobile Manufacturers’ Association indicates, according to The New York Times. January was the 17th straight month that European car sales have increased, but they remain well below the levels they reached before the financial crisis, the newspaper stated. Publicly traded companies in the space include Fiat Chrysler (FCAU), Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
06:23 EDTCATCaterpillar discloses grand jury subpoena requesting financial information
Subscribe for More Information
February 17, 2015
17:13 EDTGMPoint72 gives quarterly update on stakes
Subscribe for More Information
06:57 EDTGMGM in court Tuesday over bankruptcy shield, WSJ says
Subscribe for More Information
05:58 EDTGMGeneral Motors recalls 81,000 Malibus, Pontiacs due to power steering issue
Subscribe for More Information
1 | 2 | 3 | 4 | 5 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use