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Stock Market & Financial Investment News

News Breaks
April 19, 2013
12:22 EDTIBM, MSFT, GE, MCD, PEP, MDLZ, DELL, HPQ, BXOn The Fly: Midday Wrap
The Wall Street averages were mixed at midday in spite of declines in the shares of some of the biggest companies in the country following their earnings reports. The Dow's three worst performers near noon were IBM (IBM), General Electric (GE) and McDonald's (MCD) after all three reported earnings last night or this morning. Today is also options expiration day, which can add to volatility. The Dow managed to briefly cross into positive territory then slid back a bit, though the blue chip index is well off its worst levels despite IBM's sizable drag. ECONOMIC EVENTS: In the U.S., earnings were in focus as little impactful economic data was released. COMPANY NEWS: IBM missed expectations on the top and bottom line and the most-heavily weighted stock in the Dow slid over 7% in response. However, Citigroup attributed the Q1 miss to deal slippage and said the pullback was a buying opportunity, maintaining its $250 price target on IBM shares... Another tech heavyweight and Dow component, Microsoft (MSFT), advanced a bit over 3% after its own quarterly report... Nelson Peltz's Trian Fund disclosed increased stakes in PepsiCo (PEP) and Mondelez (MDLZ), spurring advances in both. Pepsi responded by acknowledging it has held talks with Trian in recent weeks and will consider the investment firm's ideas and initiatives... Shares of Dell (DELL) fell over 3.5%, and peer Hewlett-Packard (HPQ) slid 2%, after private equity firm Blackstone (BX) withdrew its takeover bid for Dell. MAJOR MOVERS: Among the notable gainers was Vertex Pharmaceuticals (VRTX), which rose 58% as firms around the Street upgraded or increased their price targets on its shares following new data from a trial of a cystic fibrosis drug candidate. Among the noteworthy losers were Air Methods (AIRM), which fell 13% after warning it expects to report losses for its first quarter, and Rambus (RMBS), which slipped 11% after its quarterly report. INDICES: Near noon, the Dow was down 12.98, or 0.09%, to 14,524.16; the Nasdaq was up 37.28, or 1.18%, to 3,203.64; and the S&P 500 was up 10.89, or 0.71%, to 1,552.50.
News For IBM;MSFT;GE;MCD;PEP;MDLZ;DELL;HPQ;BX From The Last 14 Days
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July 21, 2014
16:22 EDTMCDOn The Fly: Closing Wrap
Stocks on Wall Street began the trading day in negative territory and remained there through nearly the whole session. The market action was influenced more by the geopolitical events in Russia and Israel than by the upcoming avalanche of earnings scheduled for release throughout the week. Despite the weak open and subsequent drop during the first hour of trading, the market drifted off its lows and managed to pare its losses, even turning mixed for a short time. The averages dipped again heading into the bell, though they closed well of their worst levels. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity Index dipped to 0.12 in June from a reading of 0.16 in May. COMPANY NEWS: Allergan (AGN) rose $3.74, or 2.23%, to $171.14 after the company's Q2 results and its FY14 outlook beat expectations. The company, which is working to fend off a proposed acquisition by Valeant Pharmaceuticals (VRX), also announced plans to cut its workforce by 13%, or about 1,500 employees, as part of a broader restructuring effort. In related news, Valeant announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business." Later in the day, Bill Ackman of Pershing Square, who is partnering with Valeant in its attempt to buy Allergan, called the restructuring a "Valeant light" effort and said Valeant does not need to raise its bid for Allergan. Ackman explained that he believes that shares of Valeant will rise around $10 should the Allergan board engage in takeover talks with the company and that a $10 share rise would boost Valeant's bid for Allergan by $8 per share. MAJOR MOVERS: Among the notable gainers was Extreme Networks (EXTR), which rose 69c, or 15.79%, to $5.06 after the company raised its Q4 earnings per share outlook and narrowed its Q4 revenue view. Also higher were shares of EMC (EMC), which advanced $1.35, or 5.0%, to $28.33 after the Wall Street Journal reported, citing sources, that activist investor Elliott Management has taken a stake of over $1B in the data-storage company and plans to push it to break itself up and spin off VMware (VMW), which is 80% owned by EMC. Shares of VMware fell $2.36, or 2.48%, to $92.95 following the Journal's report. Among the other noteworthy losers was Monster Beverage (MNST), which fell $3.07, or 4.53%, to $64.74 after Morgan Stanley downgraded the stock, citing slowing U.S. trends and balanced valuation. Also lower were shares of Yum! Brands (YUM), which fell $3.29, or 4.25%, to $74.13 after Associated Press reported that the company's KFC brand and McDonald's (MCD) were sold expired beef and chicken in China from food supplier Husi Food. Shares of McDonald's, which is scheduled to report on its quarter before tomorrow's market open, slid $1.44, or 1.45%, to $97.55. INDEXES: The Dow fell 48.45, or 0.28%, to 17,051.73, the Nasdaq dropped 7.44, or 0.17%, to 4,424.70, and the S&P 500 declined 4.59, or 0.23%, to 1,973.63.
15:30 EDTMCDNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Verizon (VZ), consensus 90c; Coca-Cola (KO), consensus 63c; Comcast (CMCSA), consensus 72c; United Technologies (UTX), consensus $1.70; McDonald's (MCD), consensus $1.44; Altria Group (MO), consensus 66c; du Pont (DD), consensus $1.17; Lockheed Martin (LMT), consensus $2.66; Kimberly-Clark (KMB), consensus $1.50; Travelers (TRV), consensus $2.07; Ingersoll-Rand (IR), consensus $1.11; State Street (STT), consensus $1.26; TD Ameritrade (AMTD), consensus 34c; Harley-Davidson (HOG), consensus $1.46; Polaris Industries (PII), consensus $1.39; Crocs (CROX), consensus 31c.
15:22 EDTMCDMcDonald's technical comments before results
In the last three months the shares have traded essentially flat, off of the life high set at $103.78 earlier in the period. On a longer term basis the shares have had difficulty maintaining price above the $100 level. Going back to January 2012 there have been three distinct times this level has been attempted which have all failed. We could be seeing major topping action in the stock. How shares behave now will be critical for the next move. On stronger fundamental news, there could be a test to the old high that holds and gets built upon. That would require the shares take out at least the $105 area on the upside without retracing below $100 thereafter. On weaker news than expected the stock could enter a major decline given these three tops above $100. Triple tops often see deeper corrections follow. Support below the current price of $97.70 is at the $94.40 area. This level has held as support in the last few months. A break below would see the 52-week low at $92.22 as next support, followed by $89.85.
14:05 EDTMCDEarnings Preview: McDonald's to return up to $20B to investors from 2014-2016
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11:31 EDTIBMXerox names Kennedy Chief Marketing Officer
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11:04 EDTMSFTOptions with increasing implied volatility:
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11:00 EDTMCDStarbucks China says one of its suppliers got meat from Husi, Bloomberg reports
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10:43 EDTHPQFormer Autonomy CFO challenges proposed HP settlement, Re/code reports
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10:09 EDTMSFTMicrosoft July weekly volatility elevated into Q4 and outlook
Microsoft July weekly call option implied volatility is at 51, August is at 29, October is at 20; compared to its 26-week average of 20 according to Track Data, suggesting large near term price movement into the expected release of Q4 on July 22.
09:31 EDTGEGE gas engine technology chosen for power project in Mexico
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09:10 EDTMCDOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
09:05 EDTGEGE unit invest $5M in Mebane manufacturing operations
GE’s Industrial Solutions business is investing $5M to strengthen its Mebane North Carolina operations, adding production and testing capabilities that enhance the customer experience. The investment builds on the company’s local footprint that was expanded in October 2013 with the grand opening of GE’s Power Equipment and Power Components global headquarters in Cary, North Carolina. The investment will enable Mebane operations to transition to a dedicated, regional customer experience center where co-located teams will work collaboratively to streamline manufacturing processes and bring new electrical distribution technologies to market. Production of GE’s automatic transfer switches for the data center market is also included in the transition, creating approximately 60 jobs and related growth to the local economy.
07:48 EDTMSFTMicrosoft top lawyer fights at center of post-Snowden offensive, WSJ says
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07:30 EDTGEGeneral Electric annual targets a 'stretch,' says JPMorgan
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07:18 EDTGEAlstom CEO not concerned over complexities added to deal by France, FT says
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07:15 EDTHPQ, MSFTO'Reilly to hold a conference
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06:22 EDTMCDMcDonald's July weekly volatility elevated into Q2
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06:02 EDTMSFTLenovo says not getting out of small-screen Windows tablet business
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05:59 EDTMCDMcDonald's, KFC face expired food scandal in China, AP reports
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July 20, 2014
16:08 EDTMDLZMondelez, D.E Master consider brand sales as coffee pact looms, Reuters says
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