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Stock Market & Financial Investment News

News Breaks
January 17, 2014
16:32 EDTRDEN, MS, AXP, SSNI, BBRY, UPS, COF, V, INTCOn 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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December 9, 2014
14:57 EDTMSFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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14:42 EDTMSFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. 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).
08:50 EDTBBRYBlackBerry CEO says China entry won't be rushed, won't include takeover
BlackBerry (BBRY) Executive Chairman and CEO John Chen, in a post to his LinkedIn account entitled "Don't Believe The Hype," stated that he has recently I’ve been advised to capitalize on Kim Kardashian’s pronouncements that BlackBerry phones are her “heart and soul,” or talk up plans to enter the China market, "however preliminary they are today." Chen said BlackBerry's focus right now is on extending its security foundation with new solutions for the enterprise and that it "cannot and will not" chase sensationalism. "As for China, rest assured that we are developing a well-thought out plan that will take into account many factors, including timing and our long-term strategy. It won’t be rushed because it’s exciting or turned away from because of security concerns. And it won’t include a takeover," Chen wrote in his post. Reference Link
07:46 EDTUPSUPS management to meet with UBS
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December 8, 2014
14:50 EDTVVisa price target raised to $295 from $260 at Argus
Argus raised its FY15 and FY16 adjusted EPS estimates for Visa (V) and correspondingly increased its price target on the stock to $295 from $260. The firm, which keeps a Buy rating on Visa, expects rising transaction volume to lead to higher consensus earnings estimates and believes the stock should trade at a higher multiple than peer MasterCard (MA), given its faster EPS growth rate and more consistent earnings performance.
08:11 EDTUPSUPS management to meet with UBS
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06:35 EDTMSValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks 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
06:21 EDTMSDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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06:13 EDTVStocks with implied volatility below IV index mean; WFM V
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December 5, 2014
14:15 EDTMSMorgan Stanley to reduce average bonus deferral rate to 50% from 80%
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10:18 EDTBBRYBlackBerry calls active on renewed takeover chatter
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09:44 EDTBBRYRumor: BlackBerry moves up on renewed takeover chatter
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07:12 EDTUPSUPS management to meet with UBS
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06:25 EDTVStocks with implied volatility below IV index mean; WFM V
Stocks with implied volatility below IV index mean; Whole Foods (WFM) 20, Visa (V) 16 according to iVolatility.
December 4, 2014
12:46 EDTBBRYBlackBerry CEO says Western nations would block China offer, Bloomberg says
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08:36 EDTCOFCapital One and Hudson's Bay Company sign new credit card program agreement
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07:53 EDTUPSUPS management to meet with UBS
Meeting to be held in Sydney, Australia on December 4 hosted by UBS.
07:38 EDTMSMorgan Stanley Citigroup gaining share in capital markets, says Wells Fargo
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07:16 EDTVConsumer Federation of America to hold a conference
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06:38 EDTINTCIntel to spend $1.6B to upgrade China factory, Reuters says
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