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Stock Market & Financial Investment News

News Breaks
May 11, 2012
16:15 EDTLNKD, JPM, CHK, MWW, ALR, ARNAOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, as the Nasdaq was just barely able to cling to a marginal gain for the session. Stock futures pointed to a sharply lower open following JPMorgan’s (JPM) announcement of a $2B trading loss. The futures moved off their lows prior to the open but the broader market opened in negative territory. The averages found a level where they began to build following the highest consumer confidence reading since January 2008. Each of the major indices made it to positive territory and then went into a slow drift lower, with only the Nasdaq avoiding a return to the red... ECONOMIC EVENTS: Domestically, the producer price index report showed that prices fell 0.2% in April, versus expectations for no change. The core reading, which strips out food and energy, rose 0.2%, which was in line with expectations. The University of Michigan Consumer Confidence reading was 77.8, stronger than the expected 76 reading and its highest level since January 2008. Internationally, data from China and India may signal a further weakening of the global recovery, as China reported its industrial production rose 9.3% from a year ago in April while India's industrial output fell 3.5% in March from the prior year... COMPANY NEWS: The surprising announcement from JPMorgan of a $2B trading loss at one of its divisions triggered calls for tougher bank regulation and a sell off in its shares. CEO Jamie Dimon admitted to “egregious” failures in its risk management and said the losses could deepen this quarter and beyond, sending its stock down more than 9%... MAJOR MOVERS: Among the notable gainers were Arena Pharmaceuticals (ARNA), up $2.70, or 73.77%, to $6.36, after an FDA panel backed the approval of its weight loss drug, lorcaserin, and Monster Worldwide (MWW), up $1.50, or 19.13%, to $9.33, after Reuters said the company has attracted takeover interest from LinkedIn (LNKD) and Silver Lake, but CNNMoney said sources close to LinkedIn denied that report. Noteworthy losers included Alere (ALR), down $3.28, or 14.71%, to $19.02, following its disclosure of a subpoena from the Department of Health and Human Services and the potential of broader recalls of certain products after an FDA inspection, and Chesapeake Energy (CHK), down $2.37, or 13.80%, to $14.81, after the company said it would need to delay its 10-Q filing and then made the filing shortly afterward, in which it said it may have to delay some of its asset sales... INDICES: The Dow lost 34.44, or 0.27%, to 12,820.60; the Nasdaq rose 0.18, or 0.01%, to 2,933.82; and the S&P 500 dropped 4.60, or 0.34%, to 1,353.39.
News For JPM;ARNA;MWW;LNKD;ALR;CHK From The Last 14 Days
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June 25, 2015
06:03 EDTJPMJPMorgan in settlement talks with SEC to settle product steering probe, WSJ says
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05:56 EDTCHKChesapeake downgraded to Sell from Neutral at UBS
UBS analyst William Featherston downgraded Chesapeake Energy (CHK) to Sell after his firm cut its long-term normalized natural gas price forecast to $4.00 from $4.50. Featherston thinks Chesapeake carries "far too much financial leverage" and he views the shares as expensive relative to peers. The analyst cut his price target for the stock to $11 from $16. Shares of the natural gas producer closed yesterday down 22c to $11.56. Featherston coupled the downgrade with an upgrade of Marathon Oil (MRO) to Buy.
June 24, 2015
08:57 EDTJPMJPMorgan price target raised to $77 from $70 at Argus
Argus increased its price target on JPMorgan based on the bank's cost cutting efforts and expectations for rising interest rates., along with what Argus sees as moderating concerns over litigation expenses and a good investment banking/trading environment. The firm expects the stock's multiple to increase, and it reiterates a Buy rating.
07:19 EDTJPMJPMorgan names Nachimowski head of chemicals dealmaking in EMEA, Bloomberg says
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06:37 EDTJPMDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
June 23, 2015
10:00 EDTALROn The Fly: Analyst Upgrade Summary
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06:13 EDTALRAlere upgraded to Buy from Neutral at Goldman
Goldman upgraded Alere to Buy and increased its price target to $60 from $50. The firm believes management's focus on improving the cost structure and potential for improved execution is underappreciated. Goldman sees margin leverage driven by new product launches, manufacturing and sourcing initiatives, and slowing regulatory headwinds. Further, potential divestitures of non-core assets will continue to de-leverage the balance sheet.
June 22, 2015
16:00 EDTJPM, CHKOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
June 18, 2015
07:30 EDTLNKDSalesforce initiatives should help social media companies, says Brean Capital
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June 17, 2015
19:35 EDTLNKDLinkedIn developing two new apps, WSJ says
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14:55 EDTJPMJPMorgan announces unexpected death of Vice Chairman Jimmy Lee
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11:16 EDTJPMOCC restricts some banks from certain mortgage related business activity
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10:59 EDTCHKStocks with call strike movement; CHK AAL
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06:48 EDTJPMMore big banks waiving overdraft fees, WSJ reports
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June 16, 2015
19:01 EDTARNAOn The Fly: After Hours Movers
UP AFTER EARNINGS: Bob Evans (BOBE), up 4%. ALSO HIGHER: Anthera Pharmaceuticals (ANTH), up 2.4% after meeting enrollment targets of Phase 3 clinical trial evaluating blisibimod. DOWN AFTER EARNINGS: DavidsTea (DTEA), down 10.8%... La-Z-Boy (LZB), down 3.9%... Adobe (ADBE), down 1.2%. ALSO LOWER: Azure Midstream Partners (AZUR), down 8.5% after announcing that it will offer 3.5M common units... Arena Pharmaceuticals (ARNA), down 2.3% after announcing CFO departure.
18:33 EDTJPMJPMorgan shareholder suit over 'London Whale' dismissed, Reuters reports
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16:32 EDTARNAArena Pharmaceuticals announces departure of CFO
Arena Pharmaceuticals announced that Robert Hoffman, SVP, Finance and CFO, has decided to leave the company after nearly 18 years of service to pursue another opportunity in the biotechnology industry. Hoffman is expected to remain in his current role at Arena until July 10. Following Hoffman's departure, Jennifer Bielasz, Arena's VP, Accounting and Controller, will continue to play a key leadership role in Arena's finance department.
09:36 EDTCHKActive equity options trading on open
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07:11 EDTJPMSurprise AIG ruling may make future bailouts unlikely, even if needed, NYT says
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06:19 EDTJPMJPMorgan, HSBC could move parts of businesses to Luxembourg, U.K. Times reports
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