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Stock Market & Financial Investment News

News Breaks
May 20, 2014
12:24 EDTHD, URBN, OPHT, GM, ARX, SPLS, CAT, TJX, NVS, DKSOn 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.
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November 16, 2015
18:26 EDTURBNOn The Fly: After Hours Movers
UP AFTER EARNINGS: Nuance (NUAN), up 9.5%. ALSO HIGHER: Ocera Therapeutics (OCRX), up 26.6% after announcing Phase 1 study results for the company's oral formulation of OCR-002. DOWN AFTER EARNINGS: Urban Outfitters (URBN), down 11.5%... Agilent (A), down 1.3%. ALSO LOWER: Wayfair (W), down 2% after Bloomberg reported that Whitney Tilson said that Wayfair is currently his largest short.
16:11 EDTURBNUrban Outfitters reports Q3 EPS 42c, consensus 42c
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15:36 EDTCATCaterpillar November volatility up into overview of Financial Services
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15:08 EDTDKSDick's Sporting November 41 straddle priced for 9.4% movement into Q3
15:02 EDTTJX, DKS, HDNotable companies reporting before tomorrow's open
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15:02 EDTURBNNotable companies reporting after market close
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14:44 EDTHDHome Depot volatility increases into Q3 and outlook
Home Depot November call option implied volatility is at 45, December is at 27; compared to its 52-week range of 16 to 32, suggesting large near term price movement into the expected release of Q3 results on November 17.
14:38 EDTHDHome Depot November 120 straddle priced for 4.4% movement into Q3
14:28 EDTHDHome Depot technical notes ahead of earnings
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14:15 EDTTJXTJX November 65 straddle priced for 8.7% movement into Q3
13:29 EDTCATCaterpillar to host conference call
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13:07 EDTURBNUrban Outfitters volatility elevated into Q3 and outlook
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11:15 EDTTJXTJX volatility elevated into Q3 and outlook
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10:40 EDTHDEarnings Watch: Home Depot reports following recent rout among retailers
Home Depot (HD), a home improvement retailer, is scheduled to report third quarter results before the market opens on Tuesday, November 17, with a conference call scheduled for 9:00 am ET. EXPECTATIONS: Analysts are looking for earnings per share of $1.32 on revenue of $21.76B, according to First Call. The consensus range for EPS is $1.28-$1.37 on revenue of $21.16B-$22B. LAST QUARTER: On August 18, Home Depot reported second quarter adjusted EPS of $1.71 on revenue of $24.83B, generally in line with analysts' consensus estimates of $1.71 and $24.69B, respectively. The company said same-store sales increased 4.2% year-over-year, with U.S. SSS up 5.7%. The company raised its fiscal year 2015 EPS growth view to 13% from 11%-12% and its FY15 revenue growth forecast to 5.2%-6% from 4%-4.6%. The company previously raised its FY15 EPS growth view to 11%-12% and revenue growth view to 4.2%-4.8% from 3.5%-4.7%. Home Depot also said it sees FY15 SSS to be up 4.1%-4.9% y/y, an increase from its prior view of 4%-4.6% growth. Home Depot said at the time that it expected to repurchase an additional $3.9B of shares during the remainder of the year for a total of $7B. NEWS: On its last earnings conference call, Home Depot said the increased guidance reflects the outperformance of Q2 and the expected benefits of the Interline Brands acquisition. The company also noted that it will tap the long-term debt markets in the fall. During the quarter, Home Depot completed the $1.63B acquisition of Interline. STREET RESEARCH: UBS raised its price target on Home Depot to $138 from $129 on the day after its last earnings release, saying it sees several factors that could drive upside, including the addition of the Interline platform and system enhancements. PRICE ACTION: Last week, while retailers Macy's (M), Nordstrom (JWN) and numerous others in the space reported worse than expected quarterly results and gave downbeat guidance, Home Depot shares declined about 4.7%. Over the last three months, Home Depot shares are up about 1%. In early trading ahead of Tuesday's earnings, shares in Home Depot slipped about 0.25% to $119.74.
09:59 EDTGMOmega bought Valeant in Q3, sold some SuneEdison
Leon Cooperman's Omega Advisors gave a quarterly update on its stakes in a filing this morning, disclosing its positions as of September 30. NEW STAKES: Pfizer (PFE), Valeant (VRX) Walgreens Boots Alliance (WBA), TerraForm Global (GLBL), Cigna (CI). INCREASED STAKES: Google Class A (GOOGL), Facebook (FB), Delta Air Lines (DAL). DECREASED STAKES: SunEdison (SUNE), Shire (SHPG), Citi (C), KAR Auction (KAR), LyondellBasell (LYB). LIQUIDATED STAKES: McKesson (MCK), 21st Century Fox (FOXA), General Motors (GM), QEP Resources (QEP), eBay (EBAY).
08:57 EDTURBNUrban Outfitters to acquire The Vetri Family restaurants
Urban Outfitters announced today it has entered into an agreement to acquire substantially all The Vetri Family group of restaurants including award winning Pizzeria Vetri. The Vetri Family group of restaurants was created and co-headed by James Beard award winning Chef Marc Vetri and his business partner Jeff Benjamin.
07:36 EDTGMBerkshire Hathaway discloses new AT&T stake in quarterly update
Berkshire Hathaway gave a quarterly update on its stakes in a filing this morning. NEW STAKES: AT&T (T), Kraft Heinz (KHC), Liberty Lilac Group (LILA). INCREASED STAKES: Phillips 66 (PSX), Charter (CHTR), Liberty Media (LMCK), Suncor (SU), General Motors (GM). DECREASED STAKES: Goldman Sachs (GS), Wal-Mart (WMT), Deere (DE), Chicago Bridge & Iron (CBI), WABCO (WBC). LIQUIDATED STAKES: Viacom (VIAB).
05:28 EDTHDStocks with implied volatility movement; HD ETP
Stocks with implied volatility movement; Home Depot (HD) 26, Energy Transfer Partners (ETP) 49 according to iVolatility.
05:09 EDTTJXStocks with implied volatility movement; TJX NKE
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November 15, 2015
17:25 EDTGMUAW union in talks with General Motors regarding proposed agreement
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