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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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April 9, 2014
07:51 EDTJPMJP Morgan April volatility up into Q1 and outlook
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07:50 EDTJPMCEO Dimon says U.S. banking system 'sound,' Europe lagging, Reuters says
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07:18 EDTJPMLevy Economics Institute to hold a conference
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06:35 EDTJPMRegulators increase leverage ratio requirement for large banks, NY Times says
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06:33 EDTLNKDLinkedIn upgraded to Buy from Hold at Topeka
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06:27 EDTJPMBig banks must add capital to comply with new rules, WSJ reports
A of January 1, 2018, the U.S.'s eight largest banks -- including Citigroup (C), JPMorgan (JPM) and Goldman Sachs (GS) -- must add up to $68B in extra capital to comply with a new rule intended to help firms weather losses during periods of market stress, the Wall Street Journal. The banks will be required to maintain well above the minimum levels of capital held against assets on their books. Banks must report the new levels next year. Reference Link
April 8, 2014
16:21 EDTLNKDOn The Fly: Closing Wrap
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11:03 EDTARNAPiper Jaffray's biopharm analyst holds an analyst/industry conference call
Biopharm Analyst Schimmer discusses PCSK9 Inhibitors and other atherosclerosis approaches on an Analyst/Industry conference call. Relevant companies AEGR, ALNY, AMGN, ARNA, AZN, BMY, CBST, LLY, ESPR, GSK, ICPT, ISIS, MNKD, MRK, OREX, PFE, REGN, RHHBY, SNY and VVUS may be included on the Analyst/Industry conference call to be held on April 10 at 3 pm.
07:28 EDTJPMSecurity Innovation Network to hold a forum
IT Security Entrepreneurs Forum: ITSEF 2014 is being held in Mountain View, California on April 8-9.
07:26 EDTJPMElsevier Business Intelligence to hold a conference
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April 7, 2014
19:57 EDTJPMFederal Reserve announces extension on some CLOs
The Federal Reserve Board announced that it intends to exercise its authority to give banking entities two additional one-year extensions to conform their ownership interests in and sponsorship of certain collateralized loan obligations, or CLOs, covered by section 619 of the Dodd-Frank Wall Street Reform and Consumer Protection Act, commonly referred to as the Volcker rule. Section 619 of the Dodd-Frank Act directed the board to adopt rules for the conformance period and the board previously extended the conformance period for all activities and investments by one year to July 21, 2015. To ensure effective compliance, the board intends to grant banking entities two additional one-year extensions, which together would extend until July 21, 2017, to conform their ownership interests in and sponsorship of CLOs to the statute. Publicly traded companies that may be impacted by the announcement 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
15:16 EDTLNKDLinkedin May volatility elevated as shares trend to 13-month low
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08:56 EDTJPMJPMorgan, U.K.'S DFID, CDC to invest $20M combined in Novastar Ventures
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08:52 EDTALRChembio Diagnostics terminates U.S. distribution agreement with Alere
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April 4, 2014
12:17 EDTLNKDLinkedin May volatility elevated as shares trend to nine-month low
Linkedin April call option implied volatility is at 44, May is at 56, June and August is at 45; compared to its 26-week average of 43 according to Track Data, suggesting large May price movement.
10:03 EDTLNKDLinkedIn continues lower, levels to watch
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10:02 EDTJPMOn The Fly: Analyst Upgrade Summary
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07:20 EDTJPMJP Morgan April volatility up into Q1 and outlook for capital return
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06:42 EDTJPMJPMorgan selling part of retirement business to Great-West, WSJ reports
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06:36 EDTJPMJPMorgan upgraded to Outperform from Neutral at Macquarie
Macquarie upgraded JPMorgan to Outperform from Neutral based on relative valuation, improving U.S. and European economies, improving business mix and potential for increased buybacks. Price target raised to $68 from $62.
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