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Stock Market & Financial Investment News

News Breaks
November 16, 2012
16:18 EDTSHLD, JPM, FLO, DELL, SHF, CS, DVAX, PENNOn The Fly: Closing Wrap
Stocks on Wall Street were higher on the day after positive news out of Washington regarding the fiscal cliff saw stocks surge back into the green near midday. The averages drifted just north of the flat-line for the remainder of the trading session before riding a late day rally to head into the weekend with modest gains, though not enough to keep them from finishing down on the week... ECONOMIC EVENTS: In the U.S., industrial production unexpectedly declined 0.4% in October, compared to forecasts for a 0.2% gain, though the Fed said that Superstorm Sandy cut total production by almost 1 percentage point... COMPANY NEWS: JPMorgan (JPM) and Credit Suisse (CS) both agreed to pay settlements relating to their sale of residential mortgage-backed securities. JPMorgan agreed to pay $297M, with most of that payment related to Bear Stearns actions, while Credit Suisse will pay $120M to settle the charges. Shares of JPMorgan edged up 14c, or 0.36%, to $39.53 on the day, while shares of Credit Suisse fell 43c, or 1.92%, to $21.94... Shares of PC maker Dell (DELL) traded down 72c, or 7.53%, to $8.84 after the company's quarterly results missed estimates on both the top and bottom lines... MAJOR MOVERS: Among the notable gainers was Penn National (PENN), up $10.62, or 28.24%, to $48.23 after announcing its intent to separate its gaming assets and real estate assets into two publicly traded companies. Also higher were shares of Schiff Nutrition (SHF), up $9.84, or 29.01%, to $43.76 after the Reckitt Bensicker commenced a tender offer to acquire the company for $42 per share, and Flower Foods (FLO), which rose $2.06, or 10.17%, to $22.32 after Hostess Brands said it would liquidate, which could allow Flower to gain market share or look at a deal to acquire Hostess assets. Among the noteworthy losers was Dynavax (DVAX), down $2.19, or 47.30%, to $2.44 after an FDA advisory committee voted that there was insufficient data to adequately support the safety of its Heplisav vaccine. Also trading lower were shares of Sears Holding (SHLD), down $10.99, or 18.79%, to $47.49, after the company reported its domestic comparable store sales declined 3.1% in Q3... INDICES: The Dow gained 45.93, or 0.37%, to 12,588.31; the Nasdaq rose 16.19, or 0.57%, to 2,853.13; and the S&P 500 added 6.55, or 0.48%, to 1,359.88.
News For JPM;CS;DELL;PENN;SHF;FLO;DVAX;SHLD From The Last 14 Days
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January 27, 2015
06:52 EDTCSEuropean Central Bank raises capital requirements for banks, WSJ says
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06:06 EDTSHLDSears Holdings volatility increases, shares in tight two-month price range
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05:07 EDTCSCredit Suisse downgraded to Hold from Buy at Jefferies
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January 26, 2015
12:49 EDTJPMFederal Reserve discloses plan to improve U.S. payment system, WSJ reports
The Federal Reserve released a plan that would improve the U.S. payment system, saying the current outlook, which covers banking, checking, credit cards and online transactions is fragmented and outdated with respect to new technologies that may harm consumers, the Wall Street Journal reports. The Federal Reserve invited banks, credit card companies and payment processors to coordinate efforts. Publicly traded companies in the space include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
08:41 EDTPENNRegional gaming outlook has improved, says Wells Fargo
Wells Fargo is more upbeat on regional gaming stocks, citing improving same-store trends within the sector, significantly lower gas prices which the firm thinks could boost regional gaming companies, and a slowdown in supply growth within the sector. The firm also cited improving casual dining trends, which it says are highly correlated with regional gaming trends, as a reason for its increased optimism. It keeps Outperform ratings on Churchill Downs (CHDN), Gaming and Leisure (GLPI), and Penn National (PENN).
January 25, 2015
17:30 EDTJPMDelta Air Lines, Ford, four others could shine this year, Barron's says
Delta Air Lines (DAL), Ford (F), Discover (DFS), JPMorgan Chase (JPM), Lam Research (LRCX), and Micron Technology (MU) could all provide growth at a reasonable price this year, Barron's contends in a feature article. Reference Link
January 23, 2015
10:02 EDTFLOOn the Fly: Analyst Downgrade Summary
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09:09 EDTFLOFlowers Foods downgraded to Hold from Buy at BB&T
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07:23 EDTJPMBass does not expect large U.S. banks to break up
Publicly traded companies in the space include Bank of America (BAC), Citi (C), JPMorgan (JPM), and Wells Fargo (WFC). Kyle Bass of Hayman Capital continues speaking on CNBC.
06:42 EDTJPMU.S. banks preparing for prolonged low bond yields, Reuters says
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January 22, 2015
16:22 EDTJPMJPMorgan CEO Dimon gets stock-based compensation of 198.5K shares for 2014
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14:36 EDTJPMCFPB fines Wells Fargo, JPMorgan for kickback scheme
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06:26 EDTJPMJPMorgan CEO expected to receive $20M pay package for 2014, WSJ reports
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January 21, 2015
13:54 EDTJPMJPMorgan could lose $1.5B as a result of 2008 error, Reuters says
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12:12 EDTSHLDBest Buy, home retailers seen getting biggest bump from Sears demise
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07:19 EDTPENNPenn National long trade in 'early innings,' says Deutsche Bank
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January 20, 2015
12:01 EDTSHLDOverstock.com to appeal patent infringement case
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08:41 EDTCSCredit Suisse's capital ratios not changed by unstable Swiss franc, Reuters says
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06:58 EDTJPMBlackRock, Fidelity close to launching 'dark pool,' WSJ reports
Some of the largest mutual fund firms, including Fidelity, BlackRock (BLK), Bank of New York Mellon (BK),, T. Row Price (TROW) and JP Morgan (JPM) are among the firms that are close to launching a new "dark pool," The Wall Street Journal reports, citing sources. The effort, which involves nine firms in total, would look to shut out sell-side trading desks and high-speed trading firms. Reference Link
06:39 EDTCSCredit Suisse will charge certain clients for franc accounts, Reuters says
On January 22, Credit Suisse will begin charging some large corporate clients for franc accounts in order to introduce negative interest rates, reports Reuters, citing Credit Suisse spokeswoman Daniela Haesler. Reference Link
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