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Stock Market & Financial Investment News

News Breaks
June 3, 2014
12:26 EDTZQK, FIATY, GM, HSH, ACHC, SSNLF, PF, PPC, KKD, IDCC, F, TSNOn The Fly: Midday Wrap
Stocks on Wall Street began the session in negative territory and spent most of the morning there. At one point the averages turned mixed with the Dow and S&P in positive ground while the Nasdaq continued to lag, but all three slipped back into the red before long, which is where they stood near noon. ECONOMIC EVENTS: In the U.S., factory orders rose 0.7% in April from the revised March figure, topping the consensus forecast for a 0.5% increase. In China, the government's official services purchasing managers' index hit a 6-month high, rising to 55.5 in May from 54.8 in April. COMPANY NEWS: Shares of Hillshire Brands (HSH) jumped 9% to trade above $58 as the bidding war for the meat producer continues. Pilgrim's Pride (PPC) confirmed that it submitted a revised proposal to acquire Hillshire for $55.00 per share in cash, which is up from its prior offer of $45 and tops a rival bid of $50 per share that was made by Tyson Foods (TSN). For its part, Hillshire said its board has agreed to provide information to, and conduct separate talks with Pilgrimís Pride and Tyson about their recent unsolicited proposals, but Hillshire cautioned that it does not have the right to terminate its Pinnacle Foods (PF) merger agreement on the basis of either of the two companies' takeover proposals... Despite its recall woes, General Motors (GM) reported that its U.S. sales grew 12.6% from the prior year in May. Fiat's (FIATY) Chrysler unit also reported a double-digit percentage increase in its U.S. sales last month, while Ford (F) reported that its retail sales grew 3%, powering the company to its strongest May result since 2004. Despite the strong sales reports, shares of both GM and Ford were up just a fraction of a percent near midday. MAJOR MOVERS: Among the notable gainers was InterDigital (IDCC), which advanced over 19% after the company announced a patent license agreement with Samsung (SSNLF) and increased its Q2 revenue guidance. Also higher was Acadia Healthcare (ACHC), which rose nearly 15% after it agreed to acquire Partnerships in Care in a deal that analysts at Wells Fargo expect to be "meaningfully accretive." Among the noteworthy losers following their earnings reports and guidance were surfing, skateboarding and snowboarding apparel retailer Quiksilver (ZQK), which plunged 40%, and doughnut maker Krispy Kreme (KKD), which fell over 14%. INDEXES: Near midday, the Dow was down 24.33, or 0.15%, to 16,719.30, the Nasdaq was down 8.13, or 0.19%, to 4,229.07, and the S&P 500 was down 1.97, or 0.1%, to 1,923.00.
News For HSH;TSN;PPC;GM;F;PF;FIATY;IDCC;SSNLF;ZQK;KKD;ACHC From The Last 14 Days
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January 28, 2016
07:01 EDTFFord reports Q4 adjusted EPS 58c, consensus 51c
Reports Q4 automotive revenue $37.9B, consensus $36.4B.
06:09 EDTGMGM's Opel unit, watchdog recalling undisclosed number of models, Reuters reports
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January 27, 2016
18:58 EDTSSNLFSamsung to repurchase 2.99T won of shares in second phase of buyback
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18:49 EDTSSNLFSamsung reports Q4 net profit 3.24T won, consensus 5.4T won, Bloomberg reports
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18:00 EDTSSNLFFacebook executives pleased with China growth, hazy on Oculus launch
Speaking on the company's fourth quarter earnings conference call, Facebook (FB) Chief Executive Officer Mark Zuckerberg highlighted the company's more than 2.5M active advertisers as well as the growth of its Messenger and WhatsApp services, which have expanded to 800M and nearly 1B monthly users, respectively. More services will be coming soon to Messenger, Zuckerberg promised, including airline integration. The CEO noted he is "pleased" with initial consumer reaction to Samsung's (SSNLF) Gear VR virtual reality headset, though commentary on pre-orders for Facebook's own Oculus Rift device was notably light, with Zuckerberg saying only that the Oculus launch is "shaping up to be a big moment for the gaming community." Meanwhile, Chief Operating Officer Sheryl Sandberg said the company is pleased with the growth its seeing in emerging markets, including China, where businesses are using Facebook to reach customers internationally. The commentary comes in contrast to the downbeat macro view voiced during Apple's (AAPL) conference call Tuesday night. Globally, 98 of the quarter's top 100 Facebook advertisers also chose to market on Instagram, Sandberg said, adding that as businesses realize they need to catch up to consumer shifts towards mobile, she foresees a "big" opportunity to continue growing advertiser count. ANALYST TAKE: Piper Jaffray analyst Gene Munster issued a post-earnings note on Facebook, reiterating his Overweight rating and $155 price target on the social network giant in the wake of its strong beat. PRICE ACTION: Shares of Facebook have surged 12.8% to $106.60 in after-hours trading. Other members of the FANG stock grouping are also moving higher, with Amazon (AMZN), Netflix (NFLX) and Alphabet (GOOG) rising a respective 2.3%, 2.25% and 2.6%.
14:44 EDTSSNLFEarnings Watch: Qualcomm reports after breakup decision, China licensing deals
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14:34 EDTFNotable companies reporting before tomorrow's open
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13:17 EDTFFord volatility elevated into Q4 and outlook
Ford January weekly call option implied volatility is at 59, February is at 31; compared to its 52-week range of 16 to 44, suggesting large near term price movement into the expected release of Q4 results on January 28.
12:44 EDTFEarnings Watch: Ford sees record 2015 pre-tax profit, ex-items
Ford Motor Co. (F) is expected to report fourth quarter earnings on Thursday, January 28, before the market open with a conference call scheduled for 9:00 am ET. Ford is a manufacturer and distributor of cars and trucks across six continents. EXPECTATIONS: Analysts are looking for earnings per share of 50c on revenue of $36.4B, according to First Call. The consensus range for EPS is 36c-53c on revenue of $34.03B-$38.82B. LAST QUARTER: Ford reported third quarter adjusted EPS of 45c against estimates for 47c, on revenue of $38.1B against estimates for $35.07B. Ford reconfirmed fiscal 2015 pre-tax profit guidance to range from $8.5B-$9.5B, with higher automotive revenue, operating margin, and operating-related cash flow compared with 2014. Ford expects North America 2015 pretax profit to exceed last year's result with an operating margin at the upper end of the company's guidance of 8.5%-9.5%. For Europe, Ford continues to expect pre-tax loss for 2015 to improve compared with 2014 as the company continues towards a return to profitability in the region. On the company's conference call, management said it was on track to deliver a "breakthrough" year and expected a stronger second half, driven by Q4. On January 6, Ford announced a $1B supplemental cash dividend reflecting the company's strong financial performance in 2015 and robust cash and liquidity levels. It also announced that it expects to deliver record 2015 pre-tax profit, ex-items and sees FY16 operating EPS to be about equal to or higher than FY15. During the quarter, Ford reported the following: October U.S. sales up 13% to 213,938 vehicles; November U.S. sales up 0.4% to 187,794 units; and December U.S. sales up 8% to 239,242 vehicles. On January 5, Ford reported total 2015 U.S. sales of 2.61M vehicles, up 5%. STREET RESEARCH: Street research has been light in the weeks leading up to Ford's Q4 earnings report. On October 28, UBS said the weakness in Ford shares following the company's Q3 tax related miss was a buying opportunity. The firm believed guidance was conservative and the company was setting up for a solid 2016. UBS reiterated its Buy rating and lowered its price target to $22 from $23 on Ford shares. PRICE ACTION: Ford's shares are down approximately 23% since its Q3 report and have lost about 19% year-over-year. In afternoon trading ahead of Thursday's Q4 report, Ford shares are up just over 1% to around $12.
11:12 EDTGMMissouri Supreme Court affirms St. Louis venue for GM ignition switch cases
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09:01 EDTFFord Ohio Assembly Plant adds Ford F-Series Super Duty chassis cab
Ford announced that its Ohio Assembly Plant will support additional production of the all-new 2017 Ford F-Series Super Duty chassis cab. Together with Kentucky Truck Plant, Ohio Assembly will produce F-350, F-450 and F-550 Super Duty chassis cab configurations.
06:01 EDTFIBM names Ford President and CEO Mark Fields to board, effective March 1
The IBM (IBM) board of directors yesterday elected Mark Fields to the board effective March 1, 2016. Fields is president and CEO, Ford (F). Ginni Rometty, IBM chairman, president and CEO, said: "We are pleased that Mark will be joining the IBM board of directors. Mark led the highly successful transformation of his company in a competitive industry where technology has driven innovation. He is leading Ford into a future where cars are not only vehicles, but increasingly becoming mobile technology platforms. His knowledge and insights in running a complex global business will make a significant contribution to IBM."
January 26, 2016
11:51 EDTFFord expands safety recall on vehicles with Takata airbag inflators
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11:43 EDTFFord to host sales conference call
Conference call to discuss January Sales Results will be held on February 2 at 10 am. Webcast Link
09:32 EDTGMActive equity options trading on open
Active equity options trading on open: FB PEP NFLX PM GM RMBS MSFT GLW AAPL
09:05 EDTSSNLFVerizon and Samsung launch network extender solution
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January 25, 2016
20:03 EDTGMTesla CEO: 'Probably' three years until local production in China
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06:57 EDTSSNLFSamsung plans to open New York-based VR movie studio, CNet reports
Samsung intends to open a virtual reality movie studio in New York to produce immersive experiences, CNet reports. Reference Link
06:30 EDTFFord to shutter operations in Japan, Indonesia, Reuters reports
Ford will shutter operations in Japan and Indonesia this year since it sees "no reasonable path to profitability" in the two nations, Reuters reports. The car maker will exit all areas of its business, including dealerships and imports of Ford and Lincoln vehicles, in the two countries, the report says, citing an email from Asia Pacific President Dave Schoch to all employees in the region. Reference Link
06:15 EDTSSNLFSamsung exec: Will consider M&A for home appliances unit, Reuters reports
Samsung (SSNLF) will mull all potential options to grow its home appliances unit including M&A, Reuters reports, citing comments from Samsung appliances head Suh Byung-sam in from of reporters at a company event. The executive said that Haier's (HRELY) acquisition of GE's (GE) appliances unit will have no serious effect on its business in the near term, the report says. Reference Link
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