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Stock Market & Financial Investment News

News Breaks
November 8, 2012
17:02 EDTJPM, MCD, ITMN, MWW, PANL, PRSSOn 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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August 21, 2014
05:22 EDTITMNInterMune downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded InterMune to Market Perform citing valuation.
August 20, 2014
18:29 EDTJPMBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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12:58 EDTMCDMcDonald's temporarily closes certain Russian restaurants
The company said, "Based on a claim from a federal consumer agency, on Aug 20 2014, McDonald’s restaurants on Pushkin Square, Manezh Square and Prospect Mira were temporary closed. We are closely studying the subject of the documents to define what should be done to re-open the restaurants as soon as possible. Our main priority is to serve our customers with top quality menu items. We will continue taking care of our employees and will do our best to continue the success of McDonald’s business in Russia."
05:53 EDTITMNStocks with implied volatility movement; NGD ITMN
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August 19, 2014
11:00 EDTMCDMcDonald's to unveil retail coffee initiative, Huffington Post says
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06:02 EDTMCDTaco Bell introducing dollar menu, LA Times reports
Taco Bell (YUM) is introducing its new Dollar Cravings menu, which features 11 items, the LA Times reports. McDonald's (MCD) and Wendy's (WEN) both offer dollar menus. Reference Link
August 18, 2014
06:26 EDTMCDMcDonald's orders products from Thai supplier after food scare, Reuters says
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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.
06:39 EDTMCDTim Hortons aims to lure customers via new coffee launch, Reuters says
Tim Hortons (THI) is looking to attract new customers and fight competitors, such as Starbucks (SBUX) and McDonald's (MCD), by revealing a new dark roast coffee blend throughout North America while possibly increasing prices to fend-off increasing expenses and rivals, according to Reuters, citing comments from Tim Hortons CEO Marc Caira. Caira said, "Looking at the coffee market, I would suggest that, given the degree of cost increases, that we are looking at prices going up sometime in 2015." Reference Link
August 14, 2014
17:27 EDTJPMAppaloosa gives quarterly update on stakes
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10:05 EDTITMNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Adidas (ADDYY) downgraded to Neutral from Buy at Goldman... Fabrinet (FN) downgraded at B. Riley... Freeport McMoRan (FCX) downgraded at Stifel... Infosys (INFY) downgraded to Hold from Buy at Jefferies... InterMune (ITMN) downgraded to Neutral from Buy at Goldman... Jones Energy (JONE) downgraded to Neutral from Overweight at JPMorgan... LVMH Moet Hennessy (LVMUY) downgraded to Neutral from Buy at Goldman... Madison Square Garden (MSG) downgraded to Hold from Buy at Topeka... Qualys (QLYS) downgraded to Sector Perform from Outperform at RBC Capital... SeaWorld (SEAS) downgraded to Market Perform from Outperform at Wells Fargo... Theravance Biopharma (TBPH) downgraded to Underperform from Neutral at RW Baird... URS Corporation (URS) downgraded to Neutral from Buy at Sterne Agee... ViaSat (VSAT) downgraded to Perform from Outperform at Oppenheimer... Wynn Resorts (WYNN) downgraded to Hold from Buy at Gabelli.
09:11 EDTITMNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Kohl's (KSS), up 2.5%... Plug Power (PLUG), up 10%... Perrigo (PRGO), up 4.5%. HIGHER: Aruba Networks (ARUN), up 3% after shares upgraded at Stifel... KaloBios (KBIO), up 7.9% after publication shows EphA3 as target for anticancer therapy... Supernus (SUPN), up 4.4% after receiving FDA fast track designation for SPN-810. DOWN AFTER EARNINGS: Noodles & Company (NDLS), down 22%... Vipshop (VIPS), down 5.8%. LOWER: ExOne (XONE), down 10.7%, Voxeljet (VJET), down 6.6%, after earnings reports. Peers in the 3D space are lower as well, with Stratasys (SSYS) down 1% and 3D Systems (DDD) down 0.2%... Enphase Energy (ENPH), down 2.6% after filing to sell common stock for holders... InterMune (ITMN), down 3% after downgraded at Goldman following yesterday's advance on Bloomberg report that the company received takeover bids from Sanofi (SNY), Roche (RHHBY).
05:28 EDTITMNInterMune downgraded to Neutral from Buy at Goldman
Goldman Sachs downgraded InterMune (ITMN) to Neutral citing valuation after the stock rallied on a Bloomberg report of takeover interest. Goldman continues to expect InterMune's Esbriet for orphan lung disease will receive FDA approval on or before the November 23 action date. The firm has a $49 price target for shares, which closed yesterday up 14% to $52.06.
August 13, 2014
16:19 EDTITMNOn The Fly: Closing Wrap
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13:29 EDTITMNInterMune options active after Bloomberg report of takeover bids
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13:13 EDTITMNInterMune exploring sale after bids from Sanofi, Roche, Glaxo, Bloomberg says
InterMune (ITMN) is working with its financial advisers Goldman Sachs (GS) and Centerview Partners to evaluate takeover bids it has received from Sanofi (SNY), Roche (RHHBY), GlaxoSmithKline (GSK) and Actelion (ALIOF), said Bloomberg, citing people with knowledge of the matter. The report noted that one of the sources said Sanofi has so far shown the most interest in a deal for InterMune, whose shares are up more than 13% to $51.56 following the first headlines from the report. Reference Link
13:02 EDTITMNInterMune jumps 20% to $54.57 after Bloomberg report of takeover bids
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13:01 EDTITMNInterMune working with banks on sale after bids, Bloomberg reports
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13:00 EDTITMNInterMune received takeover bids from Sanofi, Roche, Bloomberg says
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
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