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Stock Market & Financial Investment News

News Breaks
November 8, 2012
12:40 EDTPANL, MCD, QCOM, JPM, BWC, MWWOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, extending yesterday's slide after the futures trading had hinted a reversal might be ahead. The averages began the session slightly higher but failed to gain any upside momentum and eventually crossed into negative territory. When it was reported that EU finance ministers wanted to wait for a report from the Troika before committing bailout funds to Greece, the averages weakened further. Although each of the indices remain lower, trading has been range bound near the flat line... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell by 8,000 to 355,000, which was lower than expected, but the data was impacted by Hurricane Sandy. The U.S. trade deficit unexpectedly 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 Bank of England also held its rates steady and halted expansion of its third round of quantitative easing. The Greek Parliament passed austerity measures, but reports indicated that euro zone finance ministers may delay its next trance of aid until they get a full report on the country’s compliance with the terms of its bailout... COMPANY NEWS: JPMorgan (JPM) shares briefly rallied but pulled back to be up just over 0.5% near midday after the company said it had been given Federal Reserve approval to buyback up to $3B in stock in the first quarter of 2013. The bank also disclosed that it had reached an 'agreement in principle' to settle certain probes from the Securities and Exchange Commission... McDonald’s (MCD) said comparable store sales fell 1.8% in October, which was the first monthly decline in nine years, and shares fell about 1.5%... MAJOR MOVERS: Among the notable gainers was Monster Worldwide (MWW), up over 16% following its stronger than expected earnings report and announcement of restructuring plans. Also higher were shares of Qualcomm (QCOM), which rose more than 6% as Deutsche Bank raised its price target on the stock to $74, citing the company's results and guidance. Among the noteworthy losers was Universal Display (PANL), down 18% after it lowered its FY12 revenue view, which prompted downgrades at Wedbush and Avondale but also defenses of the stock from JMP Securities and Cowen. Also declining was Babcock & Wilcox (BWC) down 11% after its earnings and revenue fell short of expectations... INDICES: Near 12:30 pm ET, the Dow was down 32.63, or 0.25%, to 12,900.10; the Nasdaq was down 16.27, or 0.55%, to 2,921.02; and the S&P 500 was down 5.09, or 0.37%, to 1,389.44.
News For JPM;MCD;MWW;QCOM;PANL;BWC From The Last 14 Days
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July 22, 2015
08:25 EDTMCDMcDonald's July weekly volatility elevated into Q2 and outlook
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06:09 EDTJPM4 arrested men suspected of JPMorgan hacking, NYT reports
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05:55 EDTQCOMQualcomm to cooperate with Microsoft, Allwinner in mobile market, DigiTimes says
Qualcomm (QCOM) is expected to ramp up its penetration in the entry-level mobile device market by cooperating with Microsoft (MSFT) to launch low-cost Windows Mobile 10 products, reports DigiTimes Research. Qualcomm is also expected to cooperate with Allwinner Technology to launch 3G/4G solutions for connected tablets. Reference Link
July 21, 2015
19:23 EDTJPMJPMorgan Chase to expand into Washington D.C., NY Post says
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19:00 EDTQCOMOn The Fly: After Hours Movers
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18:29 EDTMCDMcDonald's may offer all-day breakfast nationwide in October, WSJ reports
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18:14 EDTQCOMApple supplier stocks sink after iPhone, iPad unit volumes lower sequentially
Shares of iPhone suppliers, including Skyworks (SWKS), Cirrus Logic (CRUS), NXP Semiconductors (NXPI), and QUALCOMM (QCOM), are trading lower after Apple (AAPL) reported third quarter earnings after the close. WHAT'S NOTABLE: Apple reported iPhone unit volume of 47.5M in Q3 versus 61.1M in the prior quarter. Apple's iPad unit volume was 10.9M for Q3, lower than the 12.6M unit volume reported in the prior quarter. PRICE ACTION: Apple is sinking almost 7% in after-hours trading, while its suppliers are also lower, with Skyworks down more than 5%, Cirrus Logic down just under 5%, NXP Semiconductors slumping almost 5%, and QUALCOMM sliding 1.2%.
16:13 EDTJPMJPMorgan releases results of 2015 Dodd-Frank Stress Test
Common Equity Tier 1 ratio would be 8.1% in severe adverse scenario and Tier 1 risk-based capital ratio would be 9.6%. Reference Link
08:35 EDTJPMVarian Medical signs agreement to operate first proton facility in New York
Varian Medical Systems (VAR) announced that it has entered into an agreement with New York Proton Management, a consortium of leading New York healthcare institutions including Memorial Sloan Kettering Cancer Center, Mount Sinai Health System, Montefiore Health System, and ProHEALTH Medical Management formed to operate The New York Proton Center, the first proton facility in New York State. Varian will provide the center, which will have four treatment rooms and a research room, with its ProBeam system, as well as 10 years of service for approximately $115M. The center, which will be located in Manhattan, is expected to open for treatment in the first half of 2018. Varian expects to book the equipment portion of the order in Q4 with the remainder of the order to be booked in accordance with the company's policies over the term of the agreement. Under an agreement with MM Proton I, LLC, the project developer, Varian's international subsidiary in Switzerland will provide $91.5M in project financing, including a six-and-half-year $73M senior first lien loan at 9% interest and a six-and-half-year $18.5M subordinate loan at up to 13.5% interest. Other lenders for the $242.7M in total project loans include JPMorgan Chase Bank (JPM) and an affiliate of The Goldman Sachs Group (GS). The project facility is managed by Murphy & McManus, a Boston-based developer of healthcare and life science facilities and Norton Travis of NLT Advisors served as project coordinator on behalf of the consortium.
08:15 EDTQCOMQualcomm split would likely destroy value, says Bernstein
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07:53 EDTQCOMQualcomm July weekly volatility elevated into Q3 and report of possible breakup
Qualcomm July weekly call option implied volatility is at 60, August is at 27, September is at 23; compared to its 52-week range of 12 to 48, suggesting large near term price movement into the expected release of Q3 results on July 22 and WSJ report of possible breakup.
July 20, 2015
19:49 EDTQCOMQualcomm plans strategic review including possibility of breakup, WSJ says
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19:40 EDTQCOMQualcomm may consider breakup, WSJ says
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16:34 EDTQCOMQualcomm to cut 'several thousand' jobs, The Information says
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16:33 EDTQCOMQualcomm may cut 'several thousand jobs' according to report, CNBC says
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13:03 EDTJPMFed proposes final rule on capital surcharges for largest U.S. banks
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08:24 EDTMCDMcDonald's U.S. outlook improving, says RBC Capital
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07:16 EDTJPMJPMorgan boosts Spanish bond holdings amid Greek deal, Bloomberg says
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July 19, 2015
19:12 EDTJPMFederal Reserve proposes changes to 'stress test' regulations
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18:27 EDTJPMJPMorgan agrees to pay $388M in mortgage-backed securities case, Reuters says
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