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Stock Market & Financial Investment News

News Breaks
November 20, 2012
12:40 EDTHPQ, PDCO, KO, JPM, CLF, GMCR, BBY, KKD, CSOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday as a surprisingly large write-down, and associated charges of fraud, from Dow component Hewlett-Packard (HPQ) somewhat overshadowed better than expected U.S. housing data. Stocks began the day moderately lower, with the early weakness attributed to a downgrade of French sovereign debt. The averages found a level almost immediately from which they began paring their losses. The averages were mixed and sitting on either side of the flat line as Fed Chairman Bernanke gave a speech stating that the fiscal cliff has the potential to influence economic growth significantly, for better or worse, this coming year... ECONOMIC EVENTS: In the U.S., housing starts increased 3.6% in October from the prior month, to an annual rate of 894K, versus expectations for a decline of 3.7%. Building permits declined 2.7%, to an 866K annual rate, versus expectations for a decline of 2.9%. In Europe, Moody's downgraded France's government bond rating to Aa1 from Aaa... COMPANY NEWS: Hewlett-Packard shares plunged 11% to a 10-year low after the company recorded a $8.8B write-down "linked to serious accounting improprieties, disclosure failures and outright misrepresentations” related to its purchase of U.K. software company Autonomy. Almost lost in the scandal were H-P's results, as its quarterly earnings beat expectations but its view for profit next quarter trailed Street estimates... Best Buy's (BBY) earnings fell short of lowered expectations, its same store sales declined 4.3% and the company lowered its free cash flow view by almost a half a billion dollars, sending shares down 12%... In the financial sector, JPMorgan (JPM) announced a new Chief Financial Officer and Credit Suisse (CS) said it will combine its asset management unit with its private bank resulting in a simplified corporate structure with only two arms... MAJOR MOVERS: Among the notable gainers was Green Mountain Coffee Roasters (GMCR), which rose 6% after it named former Coca-Cola (KO) executive Brian Kelley as its new CEO. Also higher were shares of Krispy Kreme (KKD), up 22% after its Q3 results topped expectations. Among the noteworthy losers were Cliffs Natural Resources (CLF), down 9% following a downgrade to Sell at Goldman, and Patterson Companies (PDCO), down 7% after the company lowered its FY13 EPS view... INDICES: Near 12:30 pm ET, the Dow was up 2.42, or 0.02%, to 12,798.38; the Nasdaq was down 3.44, or 0.12%, to 2,912.63; and the S&P 500 was down 0.33, or 0.02%, to 1,386.56.
News For HPQ;BBY;JPM;CS;GMCR;KO;KKD;CLF;PDCO From The Last 14 Days
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December 10, 2014
09:23 EDTKKDOn The Fly: Pre-market Movers
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09:11 EDTKKDKrispy Kreme outlookstill positive, says Roth Capital
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08:25 EDTHPQHP capital return potential makes valuation attractive, says Brean Capital
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08:08 EDTBBYBest Buy field checks show good November, says Jefferies
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06:17 EDTJPMJPMorgan faces $22B capital hole under new Fed rules, Financial Times says
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December 9, 2014
18:21 EDTKKDOn The Fly: After Hours Movers
UP AFTER EARNINGS: Korn/Ferry (KFY), up 3.1%... Analogic (ALOG), up 2.7%. DOWN AFTER EARNINGS: Freshpet (FRPT), down 8.5% after reporting quarterly results... Krispy Kreme (KKD), down 4.9%... Broadcom (BRCM), reverses to down just below 1%. ALSO LOWER: Agios Pharmaceuticals (AGIO), down 1.9% after filing to sell $175M of common stock... Yum! Brands (YUM), down 4.6% after providing fiscal 2015 operating guidance.
16:11 EDTKKDKrispy Kreme down 4.3% after reporting Q3 results, FY15 guidance
16:10 EDTKKDKrispy Kreme sees adjusted FY15 EPS 69c-74c, consensus 72c
16:09 EDTKKDKrispy Kreme reports Q3 adjusted EPS 18c, consensus 19c
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15:18 EDTKKDNotable companies reporting after market close
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14:57 EDTJPMFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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14:42 EDTJPMFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
09:03 EDTKKDKrispy Kreme December volatility elevated as shares trend up into Q3 and outlook
Krispy Kreme December call option implied volatility is at 74, January is at 46, February is at 41; compared to its 26-week average of 42 according to Track Data, suggesting large near term price movement into the expected release of Q3 results today.
December 8, 2014
16:22 EDTKOCoca-Cola Bottling in pact with Coca-Cola to expand franchise territory
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07:56 EDTCSRBS asks Credit Suisse, others for Coutts bids by Christmas, Reuters says
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07:28 EDTHPQFBN Securities to hold a bus tour
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06:35 EDTJPMValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:21 EDTJPMDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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December 7, 2014
18:31 EDTCSCredit Suisse assesses prime brokerage business, Reuters says
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15:53 EDTHPQHP shares could gain 15%, Barron's says
HP shares could gain 15% to $45.00 per share as the company splits its enterprise business from PCs and printer business, by next October, Barron's argues in a follow up article. Reference Link
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