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Stock Market & Financial Investment News

News Breaks
November 8, 2012
17:02 EDTPANL, MCD, MWW, JPM, PRSS, ITMNOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower for the second consecutive day, as concern over the fiscal cliff and uncertainty in Europe continues to loom over investors. Stocks opened the day slightly higher, but quickly moved into negative territory where they stayed for the rest of the trading session. Among the notable companies reporting earnings after the bell today are Walt Disney (DIS) and Nordstrom (JWN)... ECONOMIC EVENTS: Domestically, weekly jobless claims fell by 8,000 to 355,000, which was lower than expected, though the data was impacted by Hurricane Sandy. The U.S. trade deficit narrowed in September to $41.5B, as exports climbed 3.1 % and imports rose 1.5% as well. In Europe, the European Central Bank held its main interest rate at 0.75% and reiterated its willingness to make bond purchases to aid Spain, though the nation continues to resist asking for a bailout. The Greek Parliament passed austerity measures, but reports indicated that euro zone finance ministers may delay its next tranche of aid until they get a full report on the country’s compliance with the terms of its bailout... COMPANY NEWS: JPMorgan (JPM) announced that it has been given Federal Reserve approval to buyback up to $3B in stock in the first quarter of 2013, and the bank also disclosed that it had reached an 'agreement in principle' to settle certain probes from the Securities and Exchange Commission. Shares of JPMorgan fell slightly, declining 8c, or 0.2%, to $40.40... Fellow Dow member McDonald’s (MCD) said comparable store sales suffered their first monthly decline in nine years, falling 1.8% in October. Its shares were among the index's worst performers, falling $1.73, or 1.99%, to $85.13... MAJOR MOVERS: Among the notable gainers was InterMune (ITMN), up $1.36, or 16.67%, to $9.52 after the company's Q3 earnings beat consensus estimates and the stock was upgraded to Buy at Canaccord. Also higher was Monster Worldwide (MWW), up 58c, or 10.16%, to $6.29 following a stronger than expected earnings report and announcement of restructuring plans. Among the noteworthy losers was Universal Display (PANL), down $5.08, or 18.03%, to $23.10 after the company lowered its FY12 revenue view, and the stock received downgrades at Wedbush and Avondale, though defenses of the stock came out of JMP Securities and Cowen. Also lower were shares of CafePress (PRSS), down $1.33, or 21.28%, to $4.92 after the company reported disappointing earnings and guidance. INDICES: The Dow was down 121.41, or 0.94%, to 12,811.32; the Nasdaq was down 41.71, or 1.42%, to 2,895.58; and the S&P 500 was down 17.02, or 1.22%, to 1,377.51.
News For JPM;MCD;ITMN;MWW;PANL;PRSS From The Last 14 Days
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December 10, 2014
16:00 EDTMCDOptions Update; December 10, 2014
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14:51 EDTMCDMcDonald's to offer fewer food items, Reuters reports
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14:18 EDTJPMJPMorgan leads banks lower, levels to watch
The shares are down over 2.5% to $60.94. At that price next major support is at $59.83, the last price for the 50-day moving average. Resistance is at $61.31.
12:24 EDTJPMOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The averages have moved in a narrow range as the price of crude continues to fall. Near noon, WTI crude was down another 5% to roughly $60 per barrel. The weakness is effecting equities, as investors are concerned the oil price weakness is indicative of the slowing global economy. ECONOMIC EVENTS: In the U.S., House and Senate lawmakers reportedly reached a deal on a nearly $1.1T bill to fund most of the government through September and avert a shutdown. The EIA estimated crude oil supplies grew 1.5 Mmbbls last week, while consensus expected a 2.7 Mmbbls decrease. The Treasury budget statement for November is expected at 2:00 pm ET, with the consensus expectation for a deficit of $63B. COMPANY NEWS: Shares of JPMorgan (JPM) declined 2% after guidelines proposed yesterday by the Federal Reserve would likely result in the firm managing to a higher capital buffer. Additionally, JPMorgan CFO Marianne Lake, speaking earlier at a Goldman Sachs conference, said the bank sees its Q4 reported markets revenues down by a "high teens" percentage and that its "core" markets performance in Q4, excluding the sale of physical commodities and allocation of preferred dividend expense, is indicated down 4% to-date compared to last year's quarter. Lake became the latest bank executive to discuss a Q4 trading slump, after Bank of America (BAC) CEO Brian Moynihan, speaking yesterday at the same financial conference, said the bank expects its Q4 trading revenue to be down on both a linked-quarter and year-over-year basis. Also yesterday, Citigroup (C) CEO Michael Corbat estimated that the bank's Q4 markets revenue would be down year-over-year by about 5%. MAJOR MOVERS: Among the notable gainers was Analogic (ALOG), which rose 12% after the company reported better than expected quarterly earnings. Also higher was Novadaq (NVDQ), which gained 11.5% after the company signed a multi-year distributor agreement with LifeNet Health that analysts at Canaccord said could potentially be a big deal and materially help its near and long-term prospects. Among the noteworthy losers was Yum! Brands (YUM), which dropped nearly 5% after the owner of the KFC, Pizza Hut and Taco Bell brands issued a negative preannouncement on its China business and provided lower than expected 2015 EPS guidance. Also lower were shares of Krispy Kreme (KKD), which sunk 8% after the donut maker reported weaker than expected earnings and revenue. INDEXES: Near midday, the Dow was down 164.41, or 0.92%, to 17,636.79, the Nasdaq was down 32.79, or 0.69%, to 4,733.68, and the S&P 500 was down 17.43, or 0.85%, to 2,042.39.
11:03 EDTJPMJPMorgan drops 2% after CFO talks down Q4 numbers
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10:56 EDTMCDMcDonald's could test its 52-week low, levels to watch
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06:17 EDTJPMJPMorgan faces $22B capital hole under new Fed rules, Financial Times says
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December 9, 2014
14:57 EDTJPMFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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14:42 EDTJPMFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
09:38 EDTMCDActive equity options trading
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December 8, 2014
16:24 EDTMCDOn The Fly: Closing Wrap
Stocks on Wall Street were lower amid another drop in crude oil prices, which tumbled to five-year lows. The market opened slightly lower following weaker than expected data from China and Japan, with nothing of note on the domestic calendar to get buyers involved in the day’s activity. Near noon, the averages gained downside momentum and though the market pared its losses several times, it was never able to gain any steam to pull the indexes back into the green. ECONOMIC EVENTS: In the U.S., no major economic data was released. In Asia, Chinese exports rose 4.7% from a year earlier in November, which missed the consensus estimate for an 8% increase. Chinese imports fell 6.7% from the prior year last month, compared with projections for a 3.8% increase. Additionally, Japan's revised third quarter gross domestic product estimate showed the economy shrank more than initially thought, with growth contracting an annualized 1.9%. COMPANY NEWS: Shares of Cubist Pharmaceuticals (CBST) surged $26.24, or 35.29%, to $100.60 after Merck (MRK) agreed to acquire the maker of next-generation antibiotics for $102 per share in cash, or $8.4B and the assumption of $1.1B in debt. A number of other antibiotic makers also climbed, including Tetraphase (TTPH), which rose $2.45, or 8.82%, to $30.24, and Cempra (CEMP), which advanced $1.64, or 11.37%, to $16.06, while shares of Merck finished fractionally higher, adding 39c, or 0.63%, to $61.88 following the deal announcement. MAJOR MOVERS: Among the notable gainers following their presentations at the American Society of Hematology, or ASH, annual meeting were Calithera Biosciences (CALA), which gained $2.38, or 22.52%, to $12.95, and Acceleron Pharma (XLRN), which jumped $5.11, or 13.6%, to $42.67. Among the noteworthy losers was McDonald's (MCD), which fell $3.70, or 3.84%, to $92.61 after the Dow member reported a 2.2% decline in global same-restaurant sales in November. Additionally, the fast-food giant warned that its fourth quarter results would be hurt by its sales pressures, supplier issues in China and a stronger U.S. dollar. Also lower were shares of Liquidity Services (LQDT), which plunged $2.77, or 27.0%, to $7.49 after the company disclosed that Wal-Mart (WMT) had terminated a deal to provide it with surplus merchandise. INDEXES: The Dow fell 106.31, or 0.59%, to 17,852.48, the Nasdaq dropped 40.06, or 0.84%, to 4,740.69, and the S&P 500 slipped 15.06, or 0.73%, to 2,060.31.
12:40 EDTMCDOn The Fly: Midday Wrap
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10:08 EDTMCDMcDonald's falls on weak November sales, levels to watch
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09:48 EDTMCDMarket begins lower, averages turns mixed in early trade
Stock futures trade below fair value throughout the pre-market trading session, leading to a lower open for the broader market. The Dow finished last week at an all-time high and just slightly below its next milestone level of 18,000, but it continues to be weighed on during early trading from McDonald's (MCD), which is down over 3% following its November sales report. In early trading, the Dow is down 17 points, the Nasdaq is up 7 points and the S&P is down 1 point.
09:38 EDTMCDMcDonald's sees Q4 margins 'significantly pressured' by top-line performance
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09:20 EDTMCDOn The Fly: Pre-market Movers
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07:59 EDTMCDMcDonald's reports November global comparable sales decreased 2.2%
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06:42 EDTMCDMcDonald's coverage resumed with a Neutral at Goldman
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06:35 EDTJPMValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks 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
06:21 EDTJPMDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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