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Stock Market & Financial Investment News

News Breaks
June 13, 2012
16:19 EDTJPM, JNJ, RMBS, LCC, AAMRQ, CASY, REGNOn The Fly: Closing Wrap
Stocks on Wall Street were lower following disappointing U.S. economic data. Stock futures were lower in premarket trading but tumbled following disappointing retail sales figures for the month of May. The market opened lower but soon found a level from where it started to build. The averages crossed into positive territory could not gain any upside momentum. The middle of the day was characterized by the market drifting back and forth across the baseline as it underwent a period of consolidation, in contrast to the previous two days, which were marked by big swings in the averages. In the last hour of trading the market fell sharply to wind up down for the day… ECONOMIC EVENTS: In the U.S., retail sales slipped 0.2%, which was in line with expectations, but if auto and gasoline data are excluded the "core" reading showed a decline of 0.1%, versus expectations of an increase of 0.4%. Producer prices in the month of May declined 1.0%, versus expectations of a decline of 0.6%, but if food and energy are removed the reading was up 0.2%, which was in line with forecasts. Business inventories grew 0.4% in April, versus expectations for an increase of 0.3%. In Europe, Italy’s national borrowing rate skyrocketed to its highest level since December, as investors became jittery about contagion from Spain’s request for external assistance… COMPANY NEWS: JPMorgan's (JPM) CEO Jamie Dimon testified in front of the Senate Banking Committee, saying that he expects the current quarter to be "solidly profitable" in spite of the "London Whale's" losses and that clawbacks of executive pay are likely following the bank's review of the incident. Dimon argued that complex institutions are necessary to meet the needs of business and that there are many advantages and only some negatives to big banks. Following his testimony JPMorgan’s shares rose 53c, or 1.57%, to $34.30... Johnson & Johnson (JNJ) shares rose $1.37, or 2.17%, to $64.45, after JPMorgan, Jefferies and Raymond James all upgraded the stock this morning. Last night, the pharmaceutical giant confirmed it has received U.S. regulatory clearance for its proposed acquisition of Synthes and announced a new accelerated share repurchase agreement... MAJOR MOVERS: Among the notable gainers were Rambus (RMBS), up 44c, or 9.16%, to $5.30, after being initiated with a Buy rating and $10 price target at Sidoti, and U.S. Airways (LCC), up 54c, or 4.72%, to $11.97, after multiple sources indicated that the company plans to file paperwork with U.S. antitrust regulators as soon as next month for a proposed merger with AMR (AAMRQ). Noteworthy losers included Casey’s General Stores (CASY), down $7.73, or 12.90%, to $52.18, after missing on Q4 EPS, and Regeneron (REGN), down $15.97, or 12.49%, to $111.88, after competitor Ophthotech announced positive data from a clinical trial… INDICES: The Dow lost 77.42, or 0.62%, to 12,496.38; the Nasdaq fell 24.46, or 0.86%, to 2,818.61; and the S&P 500 dropped 9.30, or 0.70%, to 1,314.88.
News For JPM;JNJ;RMBS;LCC;AAMRQ;CASY;REGN From The Last 14 Days
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August 21, 2014
08:31 EDTJPMMorgan Stanley, JP Morgan selected by Shake Shack to lead IPO, Reuters says
JP Morgan (JPM) and Morgan Stanley (MS) have been picked by Shake Shack to lead the fast-food restaurant chain's IPO, sources tell Reuters. The offering could come as early as this year. Reference Link
06:43 EDTJPMRegulators up bank warning efforts for poor risk assessment, Reuters says
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05:42 EDTJNJIllumina announces strategic partnership with AstraZeneca, Sanofi, Janssen
Illumina (ILMN) announced it has formed collaborative partnerships with leading pharmaceutical companies to develop a universal next-generation sequencing, or NGS,-based oncology test system. The system will be used for clinical trials of targeted cancer therapies with a goal of developing and commercializing a multi-gene panel for therapeutic selection, resulting in a more comprehensive tool for precision medicine. Initial strategic partners include AstraZeneca (AZN), Janssen Biotech, a Johnson & Johnson (JNJ) company, and Sanofi (SNY). Illumina is working with the strategic partners to develop assays that detect and measure multiple variants simultaneously to support partners’ clinical trials, with the objectives of securing regulatory agency approvals and test commercialization. In parallel, Illumina is working with key thought leaders to set standards for NGS-based assays in routine clinical oncology practice, as well as to define regulatory frameworks to enable this new testing paradigm. Together, Illumina and its strategic partners aim to transition from single-analyte companion diagnostics to panel-based assays that select for “companion therapeutics.”
August 20, 2014
18:29 EDTJPMBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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August 18, 2014
11:41 EDTJNJCubist rises after report sparks takeover interest speculation
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07:57 EDTREGNCambridge Healthtech Institute to hold a summit
6th Annual Bioprocessing Summit to be held in Boston on August 18-22.
August 17, 2014
20:39 EDTRMBSPatent overhaul efforts seem to have stalled before November election, WSJ says
Legal experts say that it is unlikely that a full Congress will revisit the issue of patent reform before the election in November, says the Wall Street Journal. Large technology companies like Google (GOOG) and Microsoft (MSFT) are pushing Congress to reform patent laws to curb litigation from patent-holding firms, added the Wall Street Journal. Publicly traded companies in the space include Acacia Research (ACTG), Tessera (TSRA), Rambus (RMBS) InterDigital (IDCC) and Vringo (VRNG). Reference Link
August 15, 2014
07:35 EDTJPMJPMorgan reports July net credit losses 2.59% vs. 2.83% last month
Reports July delinquency rate 1.32% vs. 1.33% last month.
August 14, 2014
17:27 EDTJPMAppaloosa gives quarterly update on stakes
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August 13, 2014
06:19 EDTJPMBanks pressing Federal Reserve to delay rule on investments, WSJ says
Banks are pushing U.S. policy makers for a delay of a rule that requires them to sell investments in private-equity and venture-capital funds, reports the Wall Street Journal. According to people familiar with the effort, bank officials, trade groups and lawmakers are lobbying the Federal Reserve to delay the rule for up to seven years that limits banks' investments. Reference Link
August 12, 2014
09:35 EDTJNJActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL GOOG C TSL EXAS BAC DNDN JNJ TSLA
07:48 EDTJPMBanks posted second-highest profit in 23 years in second quarter, WSJ says
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August 11, 2014
16:27 EDTJPMJPMorgan to sell 50% of portfolio companies held by One Equity Partners
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14:58 EDTJPMJPMorgan to sell about half of One Equity Partners pe unit, DJ says
JPMorgan plans to sell about $2B in portfolio companies of One Equity and retain ownership of roughly half of portfolio companies, said Dow Jones, citing sources.
07:07 EDTREGNRegeneron reports Q2 EPS 9c, consensus 6c
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05:32 EDTREGNRegeneron Eylea injection receives EU approval for DME treatment
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