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| March 18, 2013 |
| 12:10 EDT |  | JCP, HPQ, BA, EADSY, GLUU, INCY, MS, ING, BCS | On The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after the proposed terms of a bailout for Cyprus re-ignited fears about the financial situation in that nation and the other members of the European Union's periphery. Stocks began the session deep in negative territory for the first time in a long while. The drop at the bell failed to unnerve investors, who moved in to buy stocks soon afterward and continued to drive the averages higher still despite a worse than expected reading of a measure of homebuilder confidence. Although the averages remain lower they have recovered about two-thirds of their opening losses... ECONOMIC EVENTS: In the U.S., the National Association of Home Builders homebuilder survey index for March fell 2 points to 44, though the consensus forecast had been for a slight uptick to 47. In Europe, the region's debt crisis took a new turn as a bailout for the tiny nation of Cyprus was proposed to be conditional on a one-off tax on bank deposits. The hotly debated tax, proposed for individual savers as well as large account holders, prompted runs on some banks as well as worries about the implications for markets around the shared currency bloc and around the globe... COMPANY NEWS: Leading the Dow with a move up of nearly 3% was Hewlett-Packard (HPQ) after the stock was upgraded to an Overweight rating at Morgan Stanley, which cited the company's free cash flow and potential for stock buybacks and dividends. Boeing (BA) was amid the Dow's laggards, down about 1% at midday, after rival Airbus (EADSY) announced a $24B order for over 200 planes from Indonesia's Lion Air, where Boeing had been the incumbent... MAJOR MOVERS: Among the notable gainers were Glu Mobile (GLUU), which rose 10% following an upgrade at Northland Securities, and J.C. Penney (JCP), which advanced 9% following analyst speculation that the company could investigate a REIT for some holdings and a positive response to its new Joe Fresh shops. Among the noteworthy losers was Incyte Corporation (INCY), which fell over 7% after disclosing that a patient in the U.K. treated with one of its drugs had developed a condition known as progressive multifocal leukoencephalopathy, or PML. Shares of a number of financial institutions were lower as well following the developments in Cyprus, including Morgan Stanley (MS), down nearly 3%, Barclays (BCS), down over 3%, and ING Group (ING), down over 4%... INDICES: Near noon, the Dow was down 11.75, or 0.08%, to 14,502.36; the Nasdaq was down 5.52, or 0.17%, to 3,243.55; and the S&P 500 was down 4.08, or 0.26%, to 1,556.62. |
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News For JCP;HPQ;BA;EADSY;GLUU;INCY;MS;ING;BCS From The Last 14 Days Check below for free stories on JCP;HPQ;BA;EADSY;GLUU;INCY;MS;ING;BCS the last two weeks. |
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| May 20, 2013 |
| 11:25 EDT |  | BA | Boeing volatility at low end of historic range as shares at record high
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| 10:23 EDT |  | JCP | J.C. Penney advances after analyst hikes price target to $27
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| 10:11 EDT |  | JCP | On The Fly: Analyst Upgrade Summary
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| 08:16 EDT | | JCP | Follow-up: J.C. Penney upgraded to Buy from Hold at Maxim
Maxim upgraded J.C. Penney on expectations the company's strategy changes under new CEO Mike Ullman will drive traffic. The firm said its recent channel checks indicate that store traffic has increased and it raised its price target for shares to $27 from $16.50. |
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| 08:15 EDT |  | MS | Morgan Stanley to sell Indian unit to Standard Chartered, Reuters reports
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| 08:03 EDT | | JCP | J.C. Penney upgraded to Buy from Hold at Maxim
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| 07:50 EDT | | BCS | Gulf wealth funds raise private equity investments, Reuters reports
Sovereign wealth funds in the Gulf Arab region are increasing their allocations to private equity investments at a faster rate than other types of investment, U.S. fund manager Invesco said in a new study, reports Reuters. Large sovereign funds have been looking for alternative investments to give better returns than low-yielding staples such as U.S. Treasuries.Reference Link |
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| 07:30 EDT |  | JCP | J.C. Penney price target lowered to $7 from $12 at BMO Capital
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| 07:20 EDT | | BA | Boeing price target raised to $105 from $98 at JPMorgan
JPMorgan raised its price target for Boeing citing expectations for higher 787 profitability and keeps an Overweight rating on the stock. |
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| 07:16 EDT | | BA | Boeing price target raised to $115 from $100 at Stifel
Stifel increased its price target on Boeing, citing several factors including resumption of 787 deliveries and production work on 787-9, improved margins, and better than expected results from its defense business. The firm keeps a Buy rating on the stock. |
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| 05:46 EDT | | BA | Boeing look to improve more Dreamliner systems, WSJ reports
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| May 19, 2013 |
| 18:32 EDT | | ING | ING U.S. could rise over 30% in a takeover, Barron's reports.
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| May 17, 2013 |
| 10:55 EDT | | JCP | J.C. Penney drops after results miss expectations
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| 10:09 EDT |  | BA | Boeing to host investor meeting
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| 09:48 EDT |  | JCP | J.C. Penney falls after earnings miss, levels to watch
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| 09:37 EDT | | HPQ | Active equity option families trading on open
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| 08:35 EDT | | JCP | J.C. Penney reiterated as a Sell at Northcoast
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| 07:47 EDT | | JCP | J.C. Penney situation should only improve from here, says RW Baird
Baird believes there are several reasons why J.C. Penney's situation should only improve from here including better recent trends, prudent pricing and promotion, easy comps, and the re-introduction of in-demand product for fall. Baird maintains its Neutral rating and $19 price target pending further details on the company's new strategy. |
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| 07:11 EDT | | JCP | J.C. Penney CEO says needs time to fix problems, Reuters reports
J.C. Penney CEO Ullman says that the department store chain is emerging from what he called an abyss but warned he needs time to fix the issues of the retailer, reports Reuters.Reference Link |
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| 07:00 EDT | | HPQ | Hewlett-Packard volatility elevated into Q2 and revenue outlook
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