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Stock Market & Financial Investment News

News Breaks
February 25, 2013
06:07 EDTJCP, WFC, BAC, MS, C, YUM, BBRY, AAPL, VLKAY, TM, FIATY, F, GM, IVZOn the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: J.C. Penney (JCP) CEO Ron Johnson has seen sales fall by double-digits. By the end of 2012, analysts were warning the company could run short on cash. Penney's stock finished last year down more than 40%. Johnson was viewed as something of a savior when he was hired from Apple in 2011 but sources say he ignored conventional industry wisdom and moved too abruptly to impose practices inspired by his time at Apple. On Wednesday Penney reports results for the all important holiday quarter, the Wall Street Journal reports...An uptick in the housing market and rising consumer confidence resulted in another month of strong U.S. car and pickup sales that will be evident on Friday when auto makers post their February sales. Over 1.2M new vehicles were estimated to have been sold in the month, a 4.3% increase over a year earlier and a 15% increase over January, the Wall Street Journal reports...REUTERS: Apple (AAPL) faces new competition in India from BlackBerry (BBRY) and is now aggressively pushing the iPhone through installment payment plans that make it more affordable, a new distribution model and a heavy marketing blitz. The new-found interest there suggests a subtle strategy shift for Apple, which has moved tentatively in emerging markets, Reuters reports...Yum Brands (YUM) will step up its monitoring of suppliers and improve testing of poultry as it looks to reverse a steep drop in business at its KFC restaurants in China after a chicken safety scare, Reuters reports...BLOOMBERG: U.S. banks want to capitalize on a dearth of financing for Europeís commercial property market thatís driven lending margins to five times the level prior to the 2008 crisis. Citigroup (C), Morgan Stanley (MS), Bank of America (BAC) and Wells Fargo (WFC) are following insurers and distressed investors allocating capital to the region as local banks, which overextended during the last boom, are forced to contract amid new regulations, Bloomberg reports...As the bond market expects inflation to stay at about the past decadeís average, the biggest buyers of government debt say they need protection from rising consumer prices as central banks focus on growth. Pacific Investment Management Co. and Invesco (IVZ) say growing central-bank tolerance of inflation means securities with interest or principal tied to consumer prices are the ones to own, Bloomberg reports.
News For JCP;GM;F;FIATY;TM;VLKAY;AAPL;BBRY;YUM;C;MS;BAC;WFC;IVZ From The Last 14 Days
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October 13, 2014
11:00 EDTFFord adding 850 more jobs at Ford Rouge Center to build new F-150
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10:23 EDTFFord to hire 850 workers for Dearborn Rouge factories, WSJ says
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10:12 EDTJCPHome Depot bench deep, Ellison departure not surprising, says RW Baird
RW Baird said it is not surprised to see Marvin Ellison leaving Home Depot (HD) since he was likely in the running for the CEO post that went to someone else, but the firm expects a smooth internal transition and noted that it views the company's management bench as deep. Baird, which maintains its Outperform rating on Home Depot, believes J.C. Penney (JCP) is getting a strong leader with extensive retail experience in hiring Ellison.
10:08 EDTJCPOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
10:06 EDTJCPJ.C. Penney rises after selecting Home Depot executive as next CEO
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09:39 EDTAAPLActive equity options trading on open
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08:38 EDTJCPJ.C. Penney names Marvin Ellison CEO-Designee
The board of J. C. Penney (JCP) announced the appointment of Marvin Ellison, currently executive vice president of stores at Home Depot (HD), as president and CEO-Designee, effective November 1. Ellison will also join the board. He will then succeed Myron E. Ullman, III as CEO of JCPenney on August 1, 2015. At that time, Ullman will become executive chairman of the board for a period of one year.
08:31 EDTAAPLApple says iPhone 6, 6 Plus to arrive in 36 more countries this month
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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 EDTC, BAC, WFCAmEx, 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
07:02 EDTFFord and Carfax expand partnership
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06:44 EDTF, C, BAC, TM, WFC, VLKAY, FIATY, MS, GMRegulators seeking banks' auto loan data, Reuters reports
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06:41 EDTAAPLWalgreens to roll out Apple Pay on October 18, MacRumors reports
Walgreens (WAG) will begin rolling out Apple Pay (AAPL) on Saturday, October 18, according to a memo obtained by MacRumors. Reference Link
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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06:15 EDTJCPJ.C. Penney downgraded to Sell from Neutral at UBS
UBS downgraded its rating on J.C. Penney (JCP) shares to Sell saying the company's 2017 EBITDA target of $1.2B is overly optimistic as it assumes years of market share gains against strong competitors like Macy's (M) and Kohl's (KSS). UBS halved its price target for Penney shares to $5 from $10. The retailer's stock closed Friday down 52c to $7.12.
06:05 EDTAAPLReport: Apple iPhone 6 pre-orders in China reach 20M, Digitimes says
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00:04 EDTC, BAC, WFCBanking 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
17:21 EDTVLKAY, GMTesla ahead of other car makers on semiautonomous driving system, WSJ says
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13:03 EDTC, BAC, MS, WFCBanks 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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