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Stock Market & Financial Investment News

News Breaks
July 22, 2014
12:29 EDTKO, HOG, DAL, DD, MCD, KMB, CIT, TRV, VZ, HLF, NFLX, CMG, UTXOn 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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June 18, 2015
06:01 EDTHOGHarley-Davidson upgraded to Buy from Neutral at UBS
UBS upgraded Harley-Davidson to Buy and increased its price target to $63 from $60. The firm upgraded shares based on valuation and new balance sheet strategy following changes at the board and CEO level. Harley-Davidson announced an additional 20M share buyback yesterday on top of the existing 15.9M and UBS believes the move signals a shift in strategy towards shareholder returns.
05:41 EDTDALSouthwest downgraded to Underweight from Overweight at Barclays
Barclays analyst David Fintzen downgraded Southwest (LUV) two notches to Underweight from Overweight saying the company has moved from a margin expansion story to an "average" big four airline trading at a premium valuation. Fintzen expects Southwest's growth to normalize in 2016 and cut his price target for shares to $39 from $50. The stock closed yesterday down 7c to $33.84. The analyst coupled the downgrade with an upgrade of Align Technology (ALGN) to Equal Weight. He remains bullish on airlines, with Spirit Airlines (SAVE) remaining his top pick, followed by Delta Air Lines (DAL), American Airlines (AAL) and United Continental (UAL). Fintzen sees 50% average upside in those four names.
June 17, 2015
17:45 EDTDDDuPont announces effectiveness of Chemours Company's Registration Statement
DuPont announced that the SEC has declared effective the Registration Statement on Form 10 of The Chemours Company. The Registration Statement on Form 10 includes information regarding the business and spin-off of Chemours, which is expected to be completed on July 1. In addition, on June 12, the NYSE authorized Chemours for listing on the exchange, with "regular way" trading to commence on July 1. As previously announced, on July 1, DuPont common stockholders will receive one share of common stock of Chemours for every five shares of DuPont common stock they hold on the record date. On June 19, it is expected that DuPont common stock on the NYSE will also trade "ex‑distribution" under the symbol "DD WI." Prior to July 1, shares of DuPont common stock that trade under "DD" will trade with the right to receive shares of Chemours common stock on July 1. Shares of DuPont common stock that trade under "DD WI" will trade without the right to receive shares of Chemours common stock. It is anticipated that "when-issued" trading on the NYSE in Chemours common stock will begin on June 19, under the symbol "CC WI." On July 1, Chemours common stock will begin "regular way" trading on the NYSE under the symbol "CC."
17:18 EDTNFLXSpotify hires ex-Netflix CFO Barry McCarthy as company CFO, WSJ says
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16:56 EDTNFLXSpotify hires ex-Netflix CFO Barry McCarthy as company CFO, Dow Jones says
16:08 EDTUTXEsterline wins $200M contract from United Technologies division
Esterline's (ESL) Power Systems business group has been selected by UTC Aerospace Systems, a division of United Technologies (UTX), to design and manufacture the primary electrical power distribution systems for Embraer's second-generation of E-Jet and Mitsubishi's Regional Jet aircraft programs. In total, Esterline estimates these contracts will generate more than $200M in revenue for the company.
15:52 EDTDALAir Transport Assc. reevaluates carry-on changes
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14:39 EDTHOGHarley-Davidson up over 3% after added debt, repurchases seen accretive to EPS
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14:36 EDTHOGHarley-Davidson sees additional debt, repurchases accretive to 2015 EPS
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14:33 EDTHOGHarley-Davidson to repurchase additional 15M shares on buyback program
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13:34 EDTDALStocks with call strike movement; DAL EWZ
Delta Air Lines (DAL) December 46 call option implied volatility decreased 4% to 33, MSCI Brazil Index (EWZ) September 37.5 call option implied volatility increased 2% to 27 according to IVolatility.
11:08 EDTNFLXOptions with increasing implied volatility
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09:51 EDTUTXJefferies to hold company meetings at the Paris Air Show
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09:40 EDTNFLXActive equity options trading on open
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09:36 EDTNFLXActive equity options trading on open
Active equity options trading on open: AAPL FB AMD ADBE TWTR BABA QIHU NFLX BAC
09:05 EDTUTXPratt & Whitney AeroPower signs epair support agreement with Air India
Pratt & Whitney AeroPower, a division of United Technologies, has signed a long-term repair support agreement for the APS5000 auxiliary power unit with Air India Ltd., for its fleet of seven future and 20 existing Boeing 787-8 series aircraft. The support agreement covers repairs of the APU and its Line Replaceable Units (LRU).
06:44 EDTUTXUnited Technologies' Pure Power engines selected by China Aircraft Leasing
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06:20 EDTNFLXHulu luring content producers from Netflix, WSJ reports
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05:31 EDTUTXChina Eastern Airlines signs 12-year V-Service agreement
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05:27 EDTUTXUnited Technologies, Titeflex Aerospace announce long-term supply agreement
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