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Stock Market & Financial Investment News

News Breaks
January 17, 2014
16:32 EDTINTC, UPS, AXP, V, BBRY, MS, COF, SSNI, RDENOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, with the Dow serving as the only index to close in the green following a post-earnings gain from American Express (AXP), as well as a strong session from Visa (V) which gained more than 4.5%. With today's close the S&P 500 served as the only major average closing the week with losses, though no index logged a weekly move greater than 0.4%. 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) fell 69c, or 2.60%, to $25.85 after last night reporting mixed fourth quarter results and fiscal 2014 guidance. The chipmaking giant reported earnings per share that missed estimates by 1c on revenue that narrowly beat expectations and said there were signs of stabilization in the personal computer market in the quarter. Intel's 2014 revenue guidance was somewhat disappointing, with the company saying it expects revenue to be flat compared to the just completed year... UPS (UPS) fell 58c, or 0.58%, to $99.91, closing well off its worst levels, after pre-announcing weaker than expected fourth quarter results. UPS estimated that its fourth quarter earnings per share would be $1.25, shy of analysts' estimates for $1.43. The shipping giant cited the compressed holiday shopping season and an "unprecedented" level of online shopping that featured a surge of orders at the very end of the season, which forced the company to take "extraordinary measures" that hurt profits. MAJOR MOVERS: Among the notable gainers was BlackBerry (BBRY), up 53c, or 6.19%, to $9.09 after short-selling blog Citron Research disclosed a long position on shares and put a "minimum" price target on the stock of $15, saying the stock's current position creates a "unique trading opportunity." Also higher following their quarterly reports were banking major Morgan Stanley (MS), up $1.40, or 4.38%, to $33.40, and credit card giant American Express (AXP), up $3.19, or 3.63%, to $90.97. Among the noteworthy losers was Capital One (COF), down $4.05, or 5.30%, to $72.39 after the company's fourth quarter profit came in below expectations and the stock was downgraded to Neutral from Positive at Susquehanna. Also lower were Silver Spring Network (SSNI), down $5.81, or 24.72%, to $17.69 and Elizabeth Arden (RDEN), down $6.54, or 18.96%, to $27.96, after both companies last night warned that their quarterly profit and sales would come in below expectations. INDEXES: The Dow was up 41.55, or 0.25%, to 16,458.56; the S&P 500 was down 7.19, or 0.39%, to 1,838.70; the Nasdaq was down 21.11, or 0.5%, to 4,197.58.
News For INTC;UPS;AXP;V;BBRY;MS;COF;SSNI;RDEN From The Last 14 Days
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October 14, 2014
16:02 EDTINTCIntel reports Q3 gross margin 65%
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16:02 EDTINTCIntel sees Q4 revenue $14.7B, plus or minus $500M, consensus $14.49B
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16:01 EDTINTCIntel reports Q3 EPS 66c, consensus 65c
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15:29 EDTINTCNotable companies reporting after market close
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14:45 EDTINTCEarnings Preview: Intel to report after Microchip correction warning
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12:31 EDTINTCIntel October 32.5 straddle priced for 6% move into Q3
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11:39 EDTINTCIntel technical comments ahead of earnings
The shares have outperformed the broader averages over the last three months. Removing today's bounce, the stock has been flat against the down performance of the averages. The trading pattern for the stock when viewed with a three-month window has been up sharply, sideways, and down sharply. That doesn't leave a great deal of room for trend interpretation other than traders being cautious into results. When we pull back to a 1-year view, the technical picture is strikingly different. Almost all of the gains in shares this year, up over 34% excluding today, has come since the early summer. That sharp rise then developed into a bearish rounding formation viewed on a closing basis. On an OHLC chart, the formation instead is an Island Top. That is, a bullish gap, the sideways move previously described, and a bearish gap from yesterday. That leaves the price action of the last several months isolated, an island, within the context of the longer term uptrend. Island Tops are usually considered extremely bearish on a technical basis, suggesting the up move has exhausted itself in a blow-off. If the news on earnings and outlook supports this bearish price interpretation, there could be significant downside risk. Levels to watch on the downside would be at $31.80, the bottom of the bullish gap from July, $30,03, and $28.10, the bottom of the bullish gap from June. A break below $28 might leave the shares back in the $24 to $26 range characteristic of the price action at the start of the year. If the news is positive, the first major resistance is at the 52-week high at $35.56 and then at $37.15.
10:10 EDTINTCChip makers rise following Skyworks positive preannouncement
Shares of a number of semiconductor makers are climbing after one of the companies in the sector, Skyworks (SWKS), preannounced stronger than expected results. WHAT'S NEW: Skyworks, which develops chips for cell phones, raised its fourth quarter earnings per share outlook to $1.08 from $1.00. Analysts' consensus estimate was $1.01. The chip maker increased its Q4 revenue guidance to $718M from $680M. Analysts' consensus estimate was $679.5M. "Skyworks’ upwardly revised outlook demonstrates the broad-based strength of our business and our ability to capitalize on positive underlying market trends to connect everyone and everything, all the time,” said Skyworks CEO David Aldrich. "These multi-year technology trends are setting the stage for us to outperform the broader semiconductor industry in the December quarter and for the foreseeable future," the CEO added. WHAT'S NOTABLE: Skyworks' positive report comes less than a week after another semiconductor maker, Microchip (MCHP), preannounced lower than expected revenue and said it thought the sector had entered a correction. Semiconductor stocks have sold off sharply since Microchip's preannouncement and pessimistic comments. PRICE ACTION: In early trading, Skyworks surged 6.4% to $48.24, Intel (INTC) rose 1.5% to $31.94, NXP Semiconductors (NXPI) rose 1.2% to $54.55, STMicroelectronics (STM) advanced 2% to $6.82, and Avago Technologies (AVG) gained fractionally to $69.30.
09:13 EDTCOFCapital One October volatility elevated into Q3 and outlook
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08:50 EDTVVisa, 3PEA International enter into prepaid card agreement
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07:24 EDTINTCIntel gains government ally in China with new deals, Reuters says
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06:29 EDTINTCTSMC and rivals racing to pack computer power in each chip, WSJ says
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October 13, 2014
07:46 EDTBBRYBlackBerry second half hardware estimates lowered at Canaccord
Canaccord lowered its second half of 2015 hardware estimates for Blackberry after surveys show limited availability of its new Passport smartphone. The firm, however, expects improving trends and believes Blackberry will achieve its target of reaching break-even cash low levels. Canaccord maintains its Hold rating and $10 price target on Blackberry shares.
07:19 EDTV, AXP, COFAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
07:15 EDTAXPNational Association of Corporate Directors to hold a conference
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06:44 EDTMSRegulators seeking banks' auto loan data, Reuters reports
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06:37 EDTMSBlackRock, Morgan Stanley to buy shares in Link Net, WSJ reports
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06:25 EDTMSMorgan Stanley may not close Rosneft deal, WSJ reports
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00:04 EDTCOFBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
13:03 EDTMSBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
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