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Stock Market & Financial Investment News

News Breaks
June 13, 2012
16:19 EDTREGN, LCC, JPM, CASY, RMBS, AAMRQ, JNJOn 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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March 27, 2015
09:59 EDTJNJJohnson & Johnson to collaborate with Google to advance surgical robots
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09:37 EDTJPMGoldman Sachs overtakes JPMorgan in commodities rankings, Reuters says
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06:49 EDTJPMBNY Mellon may have contacted recruitment firm for CEO candidates, Reuters says
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06:46 EDTJNJContact lens makers, discounters battling over price setting, NY Times says
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March 26, 2015
08:17 EDTJPMSEC Chairwoman proposes new 'dark pool' regulation, NY Post says
Securities and Exchange Commission Chairwoman Mary Jo White proposed new regulation Wednesday that would require high-frequency traders to register with the Financial Industry Regulatory Authority and provide the agency with a daily paper trail, reports the New York Post. The Post notes that there is a 60-day comment period before any SEC rule is finalized. 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
March 25, 2015
11:03 EDTREGNRegeneron confirms FDA approval of EYLEA
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10:35 EDTREGNFDA approves expanded indication for Eylea
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09:02 EDTJPMCitizens names Donald McCree as vice chairman, head of commercial banking
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07:29 EDTJNJLeerink to hold booth tours
Leerink Booth Tours at AAOS 2015 will be held in Las Vegas on March 25-26.
March 24, 2015
13:24 EDTJNJContact lens manufacturers accused of price-fixing, Bloomberg says
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07:45 EDTJNJFDA Pediatric Advisory Committee holds a meeting
The Committee discusses pediatric-focused safety reviews, as mandated by the FDA Safety and Innovation Act (FDASIA) for Eli Lilly's Cymbalta, Pfizer's Quillivant XR and Revatio, Johnson & Johnson's Risperdal, GlaxoSmithKline's Advair, HFA Altabax Ointment and Fluarix Quadrivalent, Supernus Pharmaceuticals' Oxtellar XR, Teva Pharmaceutical's Qnasl and Roche's Invirase. The Committee will also discuss the safety ongoing propriety of the humanitarian device exemption for the Medtronic Activa Dystonia Therapy and for the Liposorber LA-15 System in a meeting being held in Silver Spring, Maryland on March 24 at 8 am. Webcast Link
07:45 EDTJPMMetLife CEO letter may be early sign of bank earnings headwinds, WSJ says
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March 23, 2015
16:35 EDTRMBSRambus licenses patents and technology solutions to IBM, terms undisclosed
Rambus (RMBS) announced it has signed both patent and technology license agreements with IBM (IBM). The patent license agreement authorizes IBM to integrate Rambus memory controller and serial link interface technologies. The technology license agreement will have Rambus develop and deliver high-performance memory interface design IP to enhance IBM systems and semiconductor offerings. Specific terms of the agreements are confidential.
09:03 EDTJNJLeerink analysts hold a meeting with a conference call hookup
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07:17 EDTREGNAmerican Academy of Dermatology to hold annual meeting
73rd Annual Meeting of AAD is being held in San Francisco on March 20-24.
March 20, 2015
10:00 EDTREGNOn The Fly: Analyst Initiation Summary
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08:05 EDTREGNRegeneron initiated with a Buy at Chardan
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March 19, 2015
15:29 EDTJPMJPMorgan execs 'brace' for potential investment/commercial bank cuts, FBN says
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12:29 EDTJPMJudge dismisses lawsuit over $13B JPMorgan-Justice Dept settlement, Reuters says
A federal judge has dismissed a lawsuit that sought to block a $13B settlement reached between JPMorgan and the U.S. Justice Department over mortgage loans, reports Reuters. Judge Beryl Howell accepted a motion by the Justice Department to dismiss the lawsuit, which argued the non-profit group Better Markets lacked standing to sue. Howell said, "The plaintiff has failed to meet its burden to show it has suffered an injury in fact." Reference Link
11:53 EDTJPMU.S. banks face headwinds in unloading oil loans, WSJ says
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