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Stock Market & Financial Investment News

News Breaks
January 17, 2014
12:41 EDTAAPL, BAIRY, GE, UPS, NIHD, AAWW, MS, INTC, RDEN, FDX, AXPOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday amid a pickup in the number of prominent earnings reports and a raft of domestic economic data. The averages opened lower as traders rolled out positions ahead of options expiration. Within minutes of the open, however, the bluechip Dow had recouped its losses and moved back into positive territory, powered by a strong post-earnings jump by American Express (AXP). ECONOMIC EVENTS: In the U.S., housing starts fell 9.8% to a rate of just under 1M in December, though that decline was roughly in-line with expectations. Building permits dropped 3.0% from the prior month, versus an expected decrease of 0.3%. Industrial production rose 0.3% in December, meeting the consensus forecast of economists. The preliminary January reading of the University of Michigan consumer sentiment index came in at 80.4, versus expectations for a 83.5 reading. JOLTS data showed job openings rose 70K in November to about 4M. COMPANY NEWS: Intel (INTC) shares were down more than 3% near noon after the company’s fourth quarter results and fiscal 2014 guidance painted a mixed picture. Last night, the chipmaking giant reported earnings per share that just missed estimates on revenue that narrowly beat expectations and said there were signs of stabilization in the personal computer market in the quarter. However, Intel provided disappointing revenue guidance for 2014, saying it expects revenue to be flat compared to this just completed year... Among other giant corporations that reported earnings last night or this morning, American Express advanced nearly 5%, Morgan Stanley (MS) gained over 4% and General Electric (GE) slipped more than 2%... UPS (UPS) shares slid 1.5% after the shipper pre-announced weaker than expected results. UPS estimated that its fourth quarter earnings per share would be $1.25, versus analysts' consensus estimate of $1.43. The shipping giant said the compressed holiday shopping season and the "unprecedented" level of online shopping that featured a surge of orders at the very end of the season forced it to take to take "extraordinary measures" that hurt its profits. FedEx (FDX) was also down 0.6% after the profit warning from its shipping peer... MAJOR MOVERS: Among the notable gainers was NII Holdings (NIHD), which surged 23% after announcing it reached a deal with Apple (AAPL) to offer Nextel customers in Brazil the iPhone 5s and iPhone 5c. Also higher was video game maker Electronic Arts (EA), which rose 11% after its stock was initiated with a Buy rating at CRT Capital and Cowen said the video game maker has a chance of beating December quarter guidance and Street estimates given its solid December sell through. Among the noteworthy losers was Atlas Air (AAWW), which dropped 15% after reporting British Airways (BAIRY) intends to return three aircraft in April. Also lower were shares of Elizabeth Arden (RDEN), which tumbled 15% after the company cut its second quarter earnings and revenue outlook. INDEXES: Near midday, the Dow was up 60.04, or 0.37%, to 16,477.05, the Nasdaq was down 4.43, or 0.11%, to 4,214.25, and the S&P 500 was down 0.62, or 0.03%, to 1,845.27.
News For INTC;UPS;AXP;MS;GE;FDX;AAWW;BAIRY;RDEN;NIHD;AAPL From The Last 14 Days
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June 22, 2015
08:35 EDTINTCKopin divests interest in Recon Instruments
Kopin (KOPN) said it had divested its equity interest in Recon Instruments as part of Intel Corporation’s (INTC) acquisition of Recon. Kopin anticipates that it will receive approximately $6M in cash proceeds for its equity interest, subject to certain closing conditions including a working capital adjustment.
08:31 EDTAXPGlobal Payments to roll out OptBlue program for AmEx card acceptance in Canada
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08:09 EDTAAPLMasimo receives CE Mark for MightySat Rx pulse oximeter
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08:09 EDTGEGeneral Electric 2018 EPS should surpass $2, says Bernstein
After meeting with GE's CFO, Bernstein predicts that the company's 2018 EPS will surpass the $2 it says is often cited as a target for the company. The firm says that synergies with Alstom appear to be progressing well, while its gross margin initiatives are also progressing. Bernstein says that GE is making progress on many fronts. It keeps an Outperform rating on the stock.
07:46 EDTAAPLApple CEO: Chinese consumer tastes weighed in product designs, Bloomberg says
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07:39 EDTFDXFedEx management to meet with Deutsche Bank
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06:18 EDTGESuppliers worried about Airbus, Boeing production rate hike, Reuters reports
Major engine suppliers, including General Electric (GE) and Safran, are becoming worried that they may lose out if they invest to meet higher commercial jet production targets from Airbus (EADSY) and Boeing (BA) that may prove unsustainable, Reuters reports. Airbus and Boeing have plans to raise production rates of their best selling single aisle planes by 25% to 50-52 a month in 2017-2018, the report says. Suppliers have said that they need to secure the start of a steep rise in output before making a commitment to even loftier targets, the report says. Reference Link
05:59 EDTAAPLApple developing in-house TDDI solutions, DigiTimes reports
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05:55 EDTAAPLApple changes tune over music streaming royalties, Financial Times says
Apple has agreed to pay for all the music carried on its new streaming music service during free trials, reports the Financial Times. The company signaled the climbdown after singer Taylor Sift released an open letter Sunday that denounced Apple Music as "shocking" and "disappointing.", adding that her views were shared by "every artist, writer and producer" in her social circles. The company will now pay for the music it streams during free trials, though it would pay less for each stream than it will when a user has taken a full subscription. Reference Link
05:13 EDTGEGeneral Electric, unions reach tentative agreement on new contracts
General Electric reached tentative agreements on new labor contracts with national leaders of its two largest unions, the IUE-CWA and the United Electrical, Radio and Machine Workers of America, or UE, after three weeks of negotiations. The agreements are now subject to review by union negotiating committees and ratification by union members. GE’s existing four-year national contracts with the IUE-CWA and the UE expire at midnight. The four-year job packages provide improvements in healthcare, wages, pension and job and income security. The contract provisions will also be extended to additional unions that have local contracts with GE.
June 21, 2015
16:32 EDTINTCAMD considers spinoff or break-up, Reuters says
AMD (AMD) has hired a consulting firm to help it review a potential split or spinoff, Reuters reported late Friday, citing three people familiar with the matter. Reuters notes that AMD may be seeking to better compete with Intel (INTC), and sources said one option being considered is to separate AMD's server business from its graphics and licensing arm. Though the company had previously decided against such an option, sources noted that CEO Lisa Su believes the move is worth reconsidering. Reference Link
June 19, 2015
16:24 EDTFDXStocks end week higher after Fed reassures on gradual pace of rate increases
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16:00 EDTAAPLOptions Update; June 19, 2015
iPath S&P 500 VIX Short-Term Futures up 11c to 18.21, Option volume leaders: AAPL TWTR BAC T FB GILD NFLX BABA AAL MU AMZN
12:46 EDTAAPLApple denies coercing artists into Apple Music deals, Rolling Stone reports
An Apple spokesman has denied allegations that it is threatening to remove music from its iTunes store by artists who do not sign up for the Apple Music service, reports Rolling Stone. A company spokesman said "It will not be taken off". The comments came after musician Anton Newcombe went on Twitter, alleging that an Apple representative threatened to take off their music if he didn't sign on. Reference Link
09:37 EDTAAPLActive equity options trading on open
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07:00 EDTGEGE Capital Aviation Services launches Boeing 737-800NG program
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06:42 EDTAXPAmEx to stop restricting merchants from favoring rivals, WSJ reports
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06:29 EDTMSMorgan Stanley invests in Alibaba-backed online insurer, WSJ reports
A group of investors including Morgan Stanley (MS) has invested $934M in China’s first online-only insurer backed by Alibaba (BABA) called Zhong An Online P&C Insurance Company, valuing the venture at $8B, the Wall Street Journal reports. The investment has been approved by China’s insurance regulator, the report says. Reference Link
06:26 EDTINTCIntel CEO confirms recent reports of layoffs, The Oregonian reports
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06:18 EDTAAPLApple Music unable to secure rights to '1989' album, BuzzFeed News reports
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