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Stock Market & Financial Investment News

News Breaks
July 22, 2014
12:29 EDTNFLX, CMG, UTX, KO, HOG, DAL, DD, MCD, KMB, CIT, TRV, VZ, HLFOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite worse than expected quarterly sales from the owners of two of the largest, most well-known brands in the world, Coca-Cola (KO) and McDonald's (MCD). Those two were among the six Dow members that reported this morning, as earnings season significantly picks up its pace. The market has also managed to shrug off news that airlines, headlined by Delta (DAL), have suspended service until further notice to and from Tel Aviv following reports of a rocket or associated debris near the Israeli airport. ECONOMIC EVENTS: In the U.S., the Consumer Price Index rose 0.3% in June, matching expectations. The FHFA home price index rose 0.4% to 212.4 in May. Existing home sales rose 2.6% to a rate of 5.04M in June, beating expectations for a 2.2% monthly increase to a 5.0M rate. The Richmond Fed's manufacturing index rose 3 points to 7 in July, missing the consensus forecast by 1 point. COMPANY NEWS: One fifth of the Dow Jones Industrial Average reported on their earnings this morning. Among the six members that issued quarterly reports, only Verizon (VZ) advanced, while Coca-Cola, McDonald’s, United Technologies (UTX), Travelers (TRV) and DuPont (DD) all declined... Shares of Herbalife (HLF) began the day in negative territory after having fallen yesterday after hedge fund manager Bill Ackman, who has repeatedly called the company a pyramid scheme, told CNBC that his presentation on the company today would show why the company "is going to collapse." Among the allegations made today, Ackman estimated that Herbalife's nutrition clubs lose an average of $12K for their operators, that the clubs contribute "enormously" to Herbalife's results and that Herbalife insiders are selling while the company is repurchasing shares. The stock moved into positive territory shortly after the presentation began and was up more than 13% near midday as the presentation was continuing. MAJOR MOVERS: Among the notable gainers was Chipotle Mexican Grill (CMG), which rallied 13% after the fast casual restaurant operator's second quarter results handily beat analysts' consensus estimates and it raised its fiscal 2014 comparable restaurant sales outlook. Also higher was CIT Group (CIT), which rose 11% after reporting on its second quarter and announcing plans to acquire OneWest Bank for $3.4B in cash and stock. Among the noteworthy losers following their earnings reports were Harley Davidson (HOG), which fell 6%, Netflix (NFLX), which dropped 5% and Kimberly Clark (KMB), which slid more than 2%. INDEXES: Near midday, the Dow was up 69.71, or 0.41%, to 17,121.44, the Nasdaq was up 36.51, or 0.83%, to 4,461.21, and the S&P 500 was up 11.54, or 0.58%, to 1,985.17.
News For HLF;MCD;KO;VZ;DD;UTX;TRV;DAL;CMG;CIT;HOG;NFLX;KMB From The Last 14 Days
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January 25, 2016
09:03 EDTMCDOn The Fly: Pre-market Movers
HIGHER: Tyco (TYC) and Johnson Controls (JCI), up 9% and 1%, respectively, after announcing a definitive merger agreement. Johnson Controls shareholders will own approximately 56% of the equity of the combined company, while current Tyco shareholders will own approximately 44%... SunEdison (SUNE), up 10% after the Wall Street Journal reported that the company is set to give David Einhorn's Greenlight Capital a seat on its board... Affimed Therapeutics (AFMD), up 26% after entering a clinical research collaboration in immuno-oncology with Merck (MRK). UP AFTER EARNINGS: McDonald's (MCD), up 3%... LOWER: Twitter (TWTR), down 5% after its CEO Jack Dorsey confirmed in a tweet last night that several executives are departing the company. Media reports also indicate that, as part of its shake-up, Twitter intends to bring in two new members to its board as soon as this week... OncoMed (OMED), down 38% after an independent data safety monitoring board remarked on several findings regarding futility of the company's Phase 2 ALPINE clinical trial... Medivation (MDVN), down 7% after FDA places investigational new drug application for MDV9300 on partial clinical hold... International Paper (IP), down 4.8%, Packaging Corp. (PKG), down 4.8%, WestRock (WRK), down 6%, after Pulp & Paper Week reduced January kraftliner and corrugated medium prices... Caterpillar (CAT), down 4% after Goldman cuts rating to sell... Regeneron (REGN), down 3% after downgraded at Chardan to sell. DOWN AFTER EARNINGS: Kimberly-Clark (KMB), down 2.5%.
08:10 EDTMCDMcDonald's expects positive top line momentum across all segments in 2016
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08:09 EDTMCDMcDonald's reports foreign currency translation had negative impact of 11c in Q4
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08:04 EDTMCDMcDonald's returned $2.3B to shareholders in Q4
The company returned $2.3 billion to shareholders through share repurchases and dividends in the fourth quarter and $9.4 billion for the full year. This brings the cumulative return to shareholders to $15.8 billion against our targeted return of about $30 billion for the three-year period ending 2016.
08:02 EDTMCDMcDonald's reports Q4 global comparable sales up 5%
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08:01 EDTMCDMcDonald's reports Q4 EPS ex gain $1.28, consensus $1.23
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07:37 EDTKMBKimberly-Clark expects dividend to increase in mid-single digits in 2016
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07:36 EDTKMBKimberly-Clark sees FY16 revenue to be down 3% to flat, consensus $18.7B
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07:35 EDTKMBKimberly-Clark expects restructuring program to be completed by end of 2016
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07:34 EDTKMBKimberly-Clark deconsolidated assets and liabilities of Venezuela business
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07:33 EDTKMBKimberly-Clark reports Q4 Personal Care sales down 4% to $2.2B
Reports Q4 Consumer Tissue sales down 6% to $1.5B. Reports Q4 KCP sales down 9% to $800M.
07:33 EDTKMBKimberly-Clark 'optimistic about future'
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07:32 EDTKMBKimberly-Clark sees FY16 adjusted EPS $5.95-$6.15, consensus $6.14
The outlook reflects expectations for 3%-5% organic sales growth, substantial cost savings, relatively benign commodity costs and significantly unfavorable foreign currency exchange rates.
07:31 EDTKMBKimberly-Clark reports Q4 adjusted EPS $1.42, consensus $1.43
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06:52 EDTUTXOther bidders could emerge for Tyco, says JPMorgan
After the Wall Street Journal reported that Johnson Controls (JCI) is in advanced talks to acquire with Tyco (TYC), JPMorgan analyst Stephen Tusa says other bidders could emerge. United Technologies (UTX) may have interest in Tyco and could likely extract more value than Johnson from the lower tax rate, Tusa tells investors in a research note. The analyst has an Overweight rating on Tyco with a $42 price target. The stock closed Friday up 61c to $30.60.
06:34 EDTMCDMcDonald's to open over 60 locations in Russia in 2016, Reuters reports
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January 24, 2016
18:56 EDTVZVerizon pursuing sponsored content for go90, Reuters says
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16:29 EDTDALDelta resumes operations at JFK, anticipates Dulles resuming Monday morning
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13:04 EDTCMGChipotle remains overvalued, could drop 20%, Barron's says
Despite their recent declines, Chipotle shares remain pricey and could drop another 20% on any future health scares, Barron's contends in its 'Follow Up' column, noting that more bad news "seems likely" for the restaurant group. Reference Link
11:02 EDTTRV, VZ, NFLXStocks post weekly gain after oil rebounds
Stocks recovered late in the week to post their first weekly gain of the new year as equities continue to be correlated closely with the oil market. A plunge in oil led equities lower early in the holiday shortened week, but as oil prices rebounded to close the week out, the major averages followed suit. MACRO NEWS: In the U.S., the consumer price index fell 0.1% during December, versus expectations for a flat reading. The core reading, which excludes food and energy, showed prices rose 0.1% from the prior month, versus expectations for an increase of 0.2%. Initial jobless claims rose to 293,000 last week, topping the expectation for 278,000 first-time claims. Markit's flash manufacturing Purchasing Managers' Index for January rose 1.5 points to 52.7, better than the 51.0 reading that was expected. Existing home sales climbed 14.7% to a 5.46M rate in December, topping the 5.2M rate that was forecast... In Asia, China's national bureau of statistics estimated that GDP growth slowed to 6.8% in the last quarter of the year, dipping from 6.9% growth in the previous quarter. China's industrial output rose 5.9% from a year earlier in December, compared with the consensus forecast for a 6% increase. Japan's Nikkei average was down early in the week, even falling into bear market territory, but rallied nearly 6% on Friday after the Nikkei Asian Review said that the Bank of Japan is taking a "serious look" at additional easing... In Europe, the European Central Bank left its key interest rates unchanged. However, at an associated press conference, ECB President Mario Draghi acknowledged downside risks were increasing again, meaning the bank may need to "review and possibly reconsider" its monetary policy stance at its next meeting in March. Markit's flash PMI for the euro zone slid to an 11-month low of 53.5, missing expectations for a more modest dip to a 54.2 reading. The International Monetary Fund cut its global growth forecasts for the third time in less than a year. The IMF now estimates that the world economy will grow 3.4% this year and 3.6% next year, down from its prior forecasts of 3.6% and 3.8% growth, respectively. COMPANY NEWS: On Tuesday, Morgan Stanley (MS) advanced 1% after its earnings and revenue topped analysts' consensus forecast. Big bank peer Bank of America (BAC) slid 1% after its earnings also beat expectations but its revenue narrowly missed the consensus estimate... On Wednesday, IBM (IBM) slid nearly 5% after reporting better than expected earnings and revenue for the fourth quarter, but forecasting below-consensus profits for the new year... On Thursday, Verizon (VZ) was among the best performers on the Dow, advancing over 3% after its earnings, revenue and wireless subscriber additions all topped expectations. Conversely, fellow Dow member Travelers (TRV) slid almost 1% after releasing its own quarterly results... On Friday, American Express (AXP) sunk more than 12% after the card issuer reported stronger than expected quarterly results but its 2017 profit guidance came in below the consensus outlook. The company's pledge to take out $1B in costs by the end of 2017 did little to change the mood of analysts or investors. Fellow Dow member GE (GE) slid a bit more than 1% after reporting better than expected earnings but lower than expected quarterly revenue... Schlumberger (SLB) shares gained 6% after the oil services giant reported earnings that topped expectations, approved a quarterly dividend of 50c per share and a new share repurchase program of $10B and said it plans to cut 10,000 more jobs... Netflix (NFLX) reported fourth quarter earnings that beat analyst estimates, powered by better than expected international subscriber growth. The numbers were met with positive commentary by several research firms, though decelerating U.S. subscriber growth was highlighted by bears as a warning sign for the company... Deutsche Bank (DB) disclosed that it expects a EUR2.1B net loss for the quarter due to a number of charges, including expected litigation costs of EUR1.2B... Xilinx (XLNX) advanced after reporting its third quarter numbers. The news may have been overshadowed, however, by a regulatory filing showing new agreements with its top executives, with several analysts highlighting that the change could signal a takeover is in the cards in the future... Alkermes (ALKS) plunged more than 44% after disclosing that two of three Phase 3 studies of its experimental depression disorder treatment did not meet their primary efficacy endpoints. INDEXES: For the four-day week, the Dow gained about 0.67% to close at 16,093.51, the S&P 500 rose about 1.4% to close at 1,906.90, and the Nasdaq increased about 2.3% to close at 4,591.18.
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