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Stock Market & Financial Investment News

News Breaks
November 16, 2012
16:18 EDTSHLD, DVAX, PENN, JPM, FLO, DELL, SHF, CSOn 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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June 25, 2015
06:03 EDTJPMJPMorgan in settlement talks with SEC to settle product steering probe, WSJ says
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June 24, 2015
11:11 EDTSHLDAnalyst says Best Buy shares poised to rise
Best Buy's (BBY) stock is poised to advance after the company reports its second quarter results, research firm B. Riley predicted. WHAT'S NEW: Best Buy's forecast for increased margins in the second half of the year, along with easing comparisons, should cause the stock to rise, predicted B. Riley in a note to investors earlier today. The shares will be particularly well-positioned to climb after the company updates its guidance following its Q2 results, the firm believes. Best Buy's initiatives should help increase its revenue and profits heading into fiscal 2017 and the retailer can continues to increase its market share at the expense of Sears (SHLD), RadioShack and others. Additionally, macro economic trends remain favorable for Best Buy and its key product categories continue to perform well, according to B. Riley. The firm, which is particularly confident about the company's ability to beat Q4 consensus estimates, keeps a $47 price target on the name and reiterates a Buy rating on the shares. WHAT'S NOTABLE: In their own note to investors this morning, SunTrust analysts David Magee and D. Mitch Van Zelfden speculated on potential M&A activity in the specialty retail space, noting that "Wall Street’s appetite for acquisitions has strengthened recently." In their opinion, Best Buy acquiring GameStop (GME) is among the "most compelling relationships" in the sector, the note explained. PRICE ACTION: In mid-morning trading, Best Buy slid 0.4% to $34.72, while GameStop rose 1.3% to $44.92.
09:13 EDTPENNPenn National’s Plainridge Park Casino debuts as Massachusetts’ first casino
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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.
07:35 EDTSHLDCFA Society of Chicago to hold a meeting
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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
11:01 EDTDVAXDynavax management to meet with William Blair
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07:41 EDTDELLRed Hat to hold a summit
Red Hat Summit 2015 is being held in Boston on June 23-26 with webcasted company presentations to begin on June 23 at 4 pm; not all presentations may be webcasted. Webcast Link
06:53 EDTCSPSAV prepares for IPO that could raise roughly $300M, Bloomberg says
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June 22, 2015
16:00 EDTJPMOptions 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 19, 2015
07:38 EDTPENNMacau official says monthly revenue could hit four year low, says Wells Fargo
Wells Fargo reports that a Macau official said that the region's gaming revenue may hit the lowest level in over four years this month. The official said that the region's June gambling revenue could be more than 20% below the average for the first five months of this year, the firm added. Wells says that Macau's gaming industry remains challenged, and it remains neutral on the sector. Publicly traded companies in the space include Las Vegas Sands (LVS), MGM Resorts (MGM), Wynn Resorts (WYNN), and Melco Crown (MPEL).
June 18, 2015
07:50 EDTCSSNB pushes UBS, Credit Suisse to improve leverage ratios
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June 17, 2015
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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06:48 EDTJPMMore big banks waiving overdraft fees, WSJ reports
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06:09 EDTPENNInternational Game provides Penn National with content, cabinets
International Game Technology (IGT) announced that it will provide Penn National (PENN) with a wide selection of new IGT content and cabinets, including more than 400 IGT games and the largest placements of the new IGT CrystalDual and S3000 cabinets at any location in the United States to date, for the new Plainridge Park Casino in Plainville, MA.
June 16, 2015
18:33 EDTJPMJPMorgan shareholder suit over 'London Whale' dismissed, Reuters reports
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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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