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Stock Market & Financial Investment News

News Breaks
April 18, 2012
16:36 EDTBRK.A, GNW, IVN, CHK, INTC, YPF, SXCI, BRK.B, IBM, RIO, CHSIOn The Fly: Closing Wrap
Stocks on Wall Street were lower, as earnings, particularly from the technology sector, disappointed. Stock futures were lower following yesterday’s big advance but closed the pre-market trading session just slightly below fair value. There were no economic numbers released before the open so investors focused on the earnings reports from companies including IBM (IBM) and Intel (INTC). The market opened at its session highs and quickly moved lower by roughly 0.5%, where it sat for several hours. The market selling then picked up in the afternoon, with the indices hitting session lows and struggling the rest of the day... ECONOMIC EVENTS: In the U.S., crude oil inventories grew more than expected, while gasoline and distillates inventories shrank more than analyst forecast. In Europe, investors are anxious to see what emerges from Spain's auction of two-year notes and 10-year debt, which occurs tomorrow... NEWS: Reuters reported that the CEO of Chesapeake Energy (CHK) took out as much as $1.1B in unreported loans in the last three years, raising the possibility of conflicts of interest. Chesapeake’s stock price fell 5.54% throughout the day, ending at $18.06... Berkshire Hathaway’s (BRK.A;BRK.B) Warren Buffett was diagnosed with treatable stage one prostate cancer. Berkshire’s stock price fell slightly on the news, ending the day down 1.29% at $119,750... MAJOR MOVERS: Among the notable gainers were Catalyst Health Solutions (CHSI), skyrocketing 34.14%, to $85.23, after it was acquired in a merger with SXC Health Solutions (SXCI), and Ivanhoe (IVN), up 15.99%, to $13.64, after CEO Robert Friedland resigned in a sweeping agreement with majority shareholder Rio Tinto (RIO) that involved funding for the massive Oyu Tolgoi copper-gold mining project in Mongolia. Noteworthy losers included YPF (YPF), which resumed trading after being halted and continued to plummet, down 32.72%, to $13.12, following the Argentine government’s nationalization of the company, and Genworth Financial (GNW), down 23.77%, to $5.87, after the company decided to postpone its IPO of its Australian unit backing home loans to early 2013 after “elevated” losses in the country this year... INDICES: The Dow lost 82.79 points, or 0.63%, to 13,032.75; the Nasdaq fell 11.37 points, or 0.37%, to 3,031.45; and the S&P 500 dropped 5.64 points, or 0.41%, to 1,385.14.
News For B;CHK;CHSI;SXCI;IVN;RIO;YPF;GNW From The Last 14 Days
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April 27, 2015
10:00 EDTYPFOn The Fly: Analyst Upgrade Summary
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06:49 EDTYPFYPF upgraded to Overweight from Neutral at JPMorgan
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April 24, 2015
06:33 EDTBBarnes Group raises FY15 EPS to $2.45-$2.60 from $2.42-$2.57, consensus $2.50
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06:31 EDTBBarnes Group reports Q1 Industrial sales down 2% to $200.3M
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06:31 EDTBBarnes Group reports Q1 adjusted EPS 53c, consensus 52c
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April 22, 2015
10:25 EDTCHKNomura U.S. energy analysts hold an analyst/industry conference call
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07:13 EDTCHKChesapeake initiated with a Reduce at Nomura
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April 21, 2015
10:01 EDTRIOOn The Fly: Analyst Downgrade Summary
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05:37 EDTRIORio Tinto downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Rio Tinto to Equal Weight following the company's Q1 results.
05:37 EDTRIORio Tinto backs FY15 production of 43M tonnes of bauxite, 8M tonnes of alumina
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05:35 EDTRIORio Tinto reports Q1 global iron ore shipments up 9% to 72.5M tonnes
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April 20, 2015
10:43 EDTCHKStocks with call strike movement; AAL CHK
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10:02 EDTGNWPRA Group names Deborah Cassidy as Chief Information Officer
PRA Group (PRAA) announced the appointment of Deborah G. Cassidy as a new member of PRA Group's executive management team. Cassidy will serve as chief information officer for the company. Most recently, Cassidy was senior vice president and business chief information officer for Genworth Financial (GNW).
April 17, 2015
18:03 EDTGNWGenworth says needs additional $500M-$700M to comply with PMIERs
Genworth Financial responded to the final Private Mortgage Insurer Eligibility Requirements, which were published by the Government Sponsored Enterprises, Fannie Mae and Freddie Mac, in conjunction with the Federal Housing Finance Agency. PMIERs will be used by the GSEs to approve private mortgage insurers that provide mortgage insurance on loans acquired by them. Based on its interpretation of the final PMIERs, the company still estimates $500M-$700M of additional capital will be required to be fully compliant by the effective date. This estimate is based on a number of factors including the company's view of market size and dynamics, planned internal restructuring within U.S. Mortgage Insurance and current affiliate asset valuation. The estimate does not reflect the announcement of changes to GSE fees, the impact of which the company is still evaluating. The final PMIERs lowered the level of required capital from that contained in the draft requirements, primarily benefiting legacy books of business, and also lowering the benefit from captive reinsurance treaties. Additionally, this estimate reflects reductions in affiliate asset valuation due to changes in market value, currency fluctuations and the finalization of the PMIERs. The company still intends to comply with the final PMIERs by the effective date, which is now December 31, 2015. Although the company continues to pursue reinsurance transactions, the lower capital requirements on legacy books of business impact the evaluation of the mix of appropriate sources of capital, which include both reinsurance and holding company cash. As previously disclosed, the company is reviewing a broad range of strategic options that it believes will improve its ability to reduce debt levels, increase capital buffers and improve/grow earnings.
05:57 EDTRIORio Tinto CEO expects to thrive on iron ore production, The Guardian reports
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April 15, 2015
10:36 EDTGNWBofA/Merrill U.S. credit analysts hold an analyst/industry conference call
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April 14, 2015
10:31 EDTCHKAELP says McClendon did not approve Chesapeake settlement
Aubrey McClendon and American Energy Partners, LP responded to the announcement by American Energy – Utica and The Energy & Minerals Group that Chesapeake Energy (CHK) has dismissed AEU and the John Doe Defendants 1-20 from the lawsuit filed by Chesapeake on February 17. The statement read, "AEU apparently chose to settle with Chesapeake before any discovery was taken, evidently for the business purpose of mitigating further damage that Chesapeake's litigation has been having on AEU's business and financing activities. AEU has the right to resolve the case in this fashion, but this resolution should not be mistaken as reflecting an informed view of the merits of Chesapeake's claims or a concession of any liability by any party to Chesapeake. Although Mr. McClendon is a director and the single largest non-institutional shareholder in AEU, he did not approve the settlement and neither he nor AELP were advised of the negotiated terms of this settlement. AELP and Mr. McClendon will continue their efforts to have the dispute arbitrated as required by Mr. McClendon's agreements with Chesapeake. As he will show in the appropriate forum, Mr. McClendon rightfully possesses an extensive array of information about more than 16,000 wells, and the related leasehold acreage and future wells, he jointly owns with Chesapeake, including land, well, title, accounting, geological, engineering, reservoir, operating, marketing, and performance information. Mr. McClendon's well-documented agreements with Chesapeake gave him the right to own and use this information for his own purposes, including sharing it with his employees, contractors, advisors, consultants and affiliated entities."
10:16 EDTCHKAmerican Energy - Utica dismissed from Chesapeake lawsuit
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