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Stock Market & Financial Investment News

News Breaks
May 20, 2014
12:24 EDTTJX, NVS, DKS, HD, URBN, OPHT, GM, ARX, SPLS, CATOn The Fly: Midday Wrap
Stocks on Wall Street began the session in negative territory and have remained there throughout the morning. With the economic calendar quiet again and earnings season just about to wind down, there was little to bring investors off the sidelines and reverse the trend. Among the many retailers that reported earnings last night and this morning, a number, including Dicks Sporting Goods (DKS), Staples (SPLS), Urban Outfitters (URBN) and TJX (TJX), missed Wall Street estimates. 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 all advancers on the Dow Jones Industrial Average, rising more than 2.5%, 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 Dow member, sliding 2%, after it reported April dealer retail sales trends that weakened relative to March... General Motors (GM) shares fell 1.5% near noon 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 25% after Cobham plc agreed to acquire the company for $10.50 per share in cash. Also higher was Ophthotech (OPHT), which gained 21% after it signed a licensing and commercialization agreement for its Fovista drug outside of the U.S. with Novartis (NVS). Among the noteworthy losers following their earnings reports were sporting goods retailer Dick's, which slumped 17%, and office supplier Staples, which dropped 13%. INDEXES: Near midday, the Dow was down 91.32, or 0.55%, to 16,420.54, the Nasdaq was down 19.57, or 0.47%, to 4,106.25, and the S&P 500 was down 8.89, or 0.47%, to 1,876.19.
News For HD;CAT;GM;DKS;SPLS;OPHT;NVS;ARX;URBN;TJX From The Last 14 Days
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February 2, 2016
14:11 EDTGMAutodata estimates January U.S. auto sales pace at 17.58M, CNBC reports
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13:44 EDTGMGeneral Motors February weekly 29 straddle priced for 4.6% movement into Q4
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12:52 EDTGMGM, counsel ask judge to dismiss bid to undo settlement fund, Reuters says
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12:22 EDTGMEarnings Watch: Analysts positive on General Motors ahead of Q4 report
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12:03 EDTGMOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
11:14 EDTNVSNovartis management to meet with Jefferies
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11:10 EDTSPLSStocks with call strike movement; NFLX SPLS
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10:00 EDTTJXOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: DuPont Fabros (DFT) upgraded to Buy from Hold at Evercore ISI... GOL Linhas (GOL) upgraded to Neutral from Sell at Goldman... Integrated Device (IDTI) upgraded to Outperform from Neutral at Wedbush... Julius Baer (JBAXY) upgraded to Hold from Sell at Deutsche Bank... Kohl's (KSS) upgraded to Buy from Neutral at Buckingham... Mattel (MAT) upgraded on positive catalysts at Stifel... Mitsubishi sees limited downside for Tableau (DATA), ups to Neutral ... Morgan Stanley (MS) upgraded to Outperform from Neutral at Macquarie... Netflix (NFLX) upgraded to Overweight from Neutral at Piper Jaffray... Realty Income (O) upgraded to Equal Weight from Underweight at Morgan Stanley... TJX (TJX) upgraded to Outperform from Market Perform at BMO Capital.
09:46 EDTTJXTJX upgraded on lower costs at BMO Capital
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09:34 EDTTJXTJX initiated with an Outperform at Wolfe Research
Target $82.
09:34 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
General Motors said dealers in the United States delivered 203,745 vehicles in January, up 0.5% compared to last year. GM's retail sales rose 9%. The carmaker estimates that the seasonally adjusted annual selling rate for light vehicles in January was 17.5M units. GM ended the month with 74 days supply, or 629,878 vehicles, compared to 630,950 units at the previous month end. GM said, "We believe industry fundamentals such as the age of the vehicle fleet, well managed inventory levels, firm used car pricing, good credit availability and low fuel prices will support higher industry sales in 2016."
09:31 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
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07:42 EDTNVSPressure mounts on big pharma names to shrink, sharpen focus, FT says
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07:09 EDTGMTrueCar projects U.S. revenue from new vehicle sales reached $38B in January
TrueCar projects U.S. revenue from new vehicle sales reached a record high for the month of January of $38 billion, up 1.4 percent from a year ago. January marked the auto industry's 25th consecutive month of year over year revenue expansion. Higher average transaction prices helped automakers post a $520 million gain in revenue versus January 2015, despite a likely increase in incentive spending and somewhat lower sales compared with a year ago. As previously announced, TrueCar projects sales of new cars and light trucks contracted 0.3 percent last month. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
06:28 EDTGMGM waiting on credit from investors, WSJ says
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06:02 EDTTJXTJX upgraded to Outperform from Market Perform at BMO Capital
February 1, 2016
18:46 EDTGMAutomakers hit with additional costs due to China regulatory shift, Reuters says
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10:02 EDTGMGeneral Motors volatility elevated into Q4 and outlook
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08:55 EDTTJXTJX names Ernie Herrman as CEO; Carol Meyrowitz becomes executive chairman
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08:54 EDTTJXTJX names Ernie Herrman as CEO; Carol Meyrowitz becomes executive chairman
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