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Stock Market & Financial Investment News

News Breaks
June 5, 2014
12:28 EDTHPQ, GM, JOY, AXAS, PVH, VRAOn The Fly: Midday Wrap
Stocks began the session in quiet fashion as they got little help from the day’s economic reports which included the weekly jobless claims data and the monthly Challenger Job Cuts report. The relatively benign numbers lifted the futures above fair value but gave it little momentum once the market opened. The averages drifted in a narrow range and pushed the S&P to a new all-time high. The market may continue to drift this afternoon as investors move to the sidelines ahead of tomorrow’s nonfarm payrolls report. ECONOMIC EVENTS: In the U.S., initial jobless claims rose slightly, up 8,000 to 312,000, in the week of May 31. The Challenger Job-Cut Report for May came in at 52,961, an increase partially caused by a 16,000 employee layoff at Hewlett-Packard (HPQ). COMPANY NEWS: General Motors (GM) released the results of an internal investigation into the company’s delayed recall of defective ignition switches, with CEO Mary Barra saying the saga was "riddled with failure, leading to tragic results for many." Fifteen employees were fired for misconduct, incompetence or failure to act. MAJOR MOVERS: Joy Global (JOY) is up 6.31% after reporting Q2 earnings results and backing its FY14 guidance. Abraxas Petroleum (AXAS) is up 11.38% after raising its FY14 production guidance last night after the close. Abraxas was also upgraded to Buy from Neutral at SunTrust this morning. PVH Corp (PVH) is down 6.66% after reporting Q1 earnings results and lowering its FY14 EPS view. Vera Bradley (VRA) is down 3.6% after reporting Q1 earnings results and giving Q2 and FY15 guidance that did not meet analyst expectations. INDEXES: The Dow is up 97.10, or 0.58%, to 16,834.63; the Nasdaq is up 37.88, or 0.89%, to 4,289.52; and the S&P 500 is up 11.06, or 0.57%, to 1,938.96.
News For HPQ;GM;JOY;AXAS;PVH;VRA From The Last 14 Days
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September 22, 2014
09:16 EDTHPQEMC wanted large premium from HP, talks have ended, CNBC reports
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09:15 EDTHPQOn The Fly: Pre-market Movers
HIGHER: Sigma-Aldrich (SIAL), up 34% after Merck KGaA (MKGAY) to acquire the company for $17B... Viasystems (VIAS), up 44% after TTM Technologies (TTMI) acquires the company for $16.46 per share in cash and stock. TTM is up 15.5% after the deal... Clorox (CLX), up 5.4% after the New York Post said the company turned down offer to sell or merge with rival... EMC (EMC), up 2.5% after The Wall Street Journal said the company is considering options that could include merging with a rival and held on-and-off merger talks with Hewlett-Packard (HPQ) for almost a year, though the Journal added that those talks recently ended... Epiq Systems (EPIQ), up 9.9% after P2 Capital confirms 16.9% stake in Epiq and that the company turned down the shareholders' $20 per share takeover offer... Dresser-Rand (DRC), up 2.7% after the company sells to Siemens (SIEGY) for $83 per share or $7.6B... TAT Technologies (TATT), up 6.6% after a division of the company signed a maintenance agreement with Republic Airways (RJET). LOWER: Yahoo (YHOO), down 2.1% after stock was downgraded at Bank of America Merrill Lynch and at Bernstein... InvenSense (INVN), down 2.9% after downgraded at RW Baird... Threshold Pharmaceuticals (THLD), down 5.6% after TH-302 Phase 3 trial events to occur later than expected.
07:27 EDTAXASIndependent Petroleum Association of America to hold a conference
IPAA OGIS San Francisco on September 22-24.
07:02 EDTGMJPMorgan prefers shares of GM and Ford to Tesla
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06:52 EDTGMCalifornia to add additional incentives for electric cars, NY Times says
California Governor Jerry Brown signed several bills that are supposed to make electric cars more affordable for low income residents of the state, according to The New York Times. The bills, among other things, will boost rebates that low income earners receive when buying an electric car, and install charging stations in apartment buildings in low income areas, the newspaper stated. GM (GM), Nissan (NSANY) Ford (F) and Tesla (TSLA) are among the companies that make electric cars. Reference Link
06:11 EDTHPQEMC explores merger, holds talks with HP, Dell, WSJ reports
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September 20, 2014
21:44 EDTGMGM recalls 221,558 Cadillac XTS and Chevrolet Impala sedans, WSJ says
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September 19, 2014
14:50 EDTGMJudge orders General Motors must hand over defect files, WSJ reports
A U.S. Judge has ordered General Motors to turn over internal files and documents regarding its ignition-switch flaw and how it handled the defect to plaintiff attorneys, The Wall Street Journal says. The attorneys are representing plaintiffs who have sued the auto manufacturer alleging economic loss, personal injury, and deaths related to the company's recall of older cars with the ignition-switch defect. While General Motors is protected from liabilities that occurred before its bankruptcy in 2009, the recent ruling paves the way for plaintiff attorneys to obtain records they could use in cases before and after General Motor's bankruptcy petition, The Wall Street Journal added. Reference Link
07:19 EDTHPQNew America Foundation to hold a discussion
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07:09 EDTGMGeneral Motors to launch new Cadillac sedan next year, AP reports
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September 18, 2014
10:02 EDTGMGeneral Motors to recall 3,200 natural gas-fueled vans, WSJ reports
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September 17, 2014
12:52 EDTJOYJoy Global spikes higher, levels to watch
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12:48 EDTJOYRumor: Joy Global strength attributed to renewed takeover speculation
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12:47 EDTJOYJoy Global September calls active
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12:46 EDTJOYJoy Global moves to highs of session, up 2%
10:00 EDTVRAOn The Fly: Analyst Initiation Summary
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07:37 EDTGMEU car registrations up 2.1% in August, up 5.6% in July
The European Automobile Manufacturers Association reported new passenger car registrations were up by 5.6% in July and by 2.1% in August. Eight months into the year, demand for new cars amounted to 8,336,159 units, or 6.0% more than in the same period last year, the group noted. Publicly traded automakers include Fiat (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
07:35 EDTAXASImperial Capital to hold a conference
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07:26 EDTGMGM to cut supply, but not prices, as it seeks to revive Cadillac, WSJ says
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07:16 EDTVRAVera Bradley initiated with a Buy at Wunderlich
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