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Stock Market & Financial Investment News

News Breaks
November 8, 2012
12:40 EDTQCOM, JPM, BWC, MWW, PANL, MCDOn 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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June 29, 2015
08:14 EDTQCOMQualcomm downgraded to Sell from Hold at Drexel Hamilton
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08:03 EDTBWCBabcock & Wilcox initiated with an Overweight at KeyBanc
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07:45 EDTJPMJPMorgan downgraded to Perform from Outperform at Oppenheimer
Oppenheimer downgraded JPMorgan based on valuation.
07:22 EDTBWCBWX Technologies would be M&A fit for Huntington Ingalls, says Deutsche Bank
Deutsche Bank noted that the planned spin-off of BWX Technologies (BWXT) from Babcock & Wilcox (BWC) is scheduled to be completed this week on July 1, stating that it believes the spun off company is likely to attract the attention of strategic players such as Huntington Ingalls (HII) and General Dynamics (GD). The firm thinks the potential M&A fit looks "most striking" for Huntington and estimates that a deal multiple could reach 10-11X the about $300M in EBITDA at BWX Technologies, which would likely be "worth the stretch" for the shipbuilder.
07:21 EDTQCOMQualcomm downgraded to Sell from Hold at Drexel Hamilton
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June 28, 2015
12:47 EDTQCOMTech sector earnings 'melt away' when accounting for stock comp, Barron's says
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June 26, 2015
06:33 EDTMCDMcDonald’s says child customers drinking less soda, eating more fruit
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June 25, 2015
19:34 EDTQCOMAirbus, Qualcomm, others invest $500M in OneWeb's global internet initiative
OneWeb announced it has raised $500M in funding from a number of companies, including Airbus (EADSY), Bharti, EchoStar's (SATS) Hughes, Intelsat (I), Qualcomm (QCOM), Coca-Cola (KO), Totalplay, and Virgin Group. OneWeb is engaged in developing satellite technologies to "beam" broadband internet to rural and underdeveloped locations, as well as to ships, planes, trains, and oil platforms. Bharti chairman Sunil Bharti Mittal will be joining Airbus Group CEO Tom Enders as well as Virgin's Richard Branson and Qualcomm's Paul Jacobs on the OneWeb board of directors. OneWeb also reiterated its June 15 announcement of its joint venture with Airbus to design and manufacture 900 microsatellites. "We are committed to giving our full industrial and space expertise to this mission," remarked Airbus' Tom Enders. "Intelsat has the world’s largest fleet of Ku Band geostationary satellites and our interoperability will enable pole-to-pole and urban canyon coverage with new services," said Intelsat. Note that both Facebook (FB) and Google (GOOG) are working on similar projects to facilitate global internet access. Reference Link
07:16 EDTJPMJPMorgan executive Patrick Moore leaves company, Reuters reports
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07:13 EDTJPMFed director says full transparency in stress testing can be 'enormous weakness'
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06:12 EDTMCDMcDonald's wants to sell 413 Taiwan stores to franchise operator, Reuters says
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06:03 EDTJPMJPMorgan in settlement talks with SEC to settle product steering probe, WSJ says
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June 24, 2015
17:57 EDTQCOMWall Street applauds Senate giving go-ahead for 'fast track' trade powers
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09:11 EDTQCOMApplied Micro an affordable target for Qualcomm, says Summit Research
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08:57 EDTJPMJPMorgan price target raised to $77 from $70 at Argus
Argus increased its price target on JPMorgan based on the bank's cost cutting efforts and expectations for rising interest rates., along with what Argus sees as moderating concerns over litigation expenses and a good investment banking/trading environment. The firm expects the stock's multiple to increase, and it reiterates a Buy rating.
07:19 EDTJPMJPMorgan names Nachimowski head of chemicals dealmaking in EMEA, Bloomberg says
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06:37 EDTJPMDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
June 23, 2015
17:21 EDTQCOMSemiconductor Manufacturing, Qualcomm form joint venture to focus on 14nm tech
Earlier on Tuesday, Semiconductor Manufacturing International (SMI), Huawei, imec, and Qualcomm Global Trading -- an affiliate of Qualcomm (QCOM) -- announced the formation of SMIC Advanced Technology Research & Development, an equity joint venture company. The joint venture company will focus on R&D towards next generation CMOS logic technology and an advanced integrated circuit development R&D platform. SMIC Advanced Technology R&D will be majority owned by SMIC, while Huawei, imec, and Qualcomm will be minority shareholders. "By enabling fabless semiconductor companies to join the development process as shareholders, the product development cycle can be shortened and the advanced process node tape out time can be accelerated," said the statement. In the first phase, the joint venture will develop 14 nanometer CMOS technology for mass production, which will be based on imec's expertise. The project will be done at SMIC's production line. SMIC will have the rights to license the required intellectual property rights on the mass production technologies of advanced nodes developed by the joint venture company.
June 22, 2015
17:55 EDTQCOMITC staff supports clearing Samsung, Qualcomm, in NVIDIA case, Bloomberg says
The U.S. International Trade Commission staff recommends that Samsung Electronics (SSNLF) and Qualcomm (QCOM) be absolved of patent-infringement accusations brought by Nvidia (NVDA), Bloomberg reports. Reference Link
16:00 EDTJPMOptions Update; June 22, 2015
iPath S&P 500 VIX Short-Term Futures down 78c to 17.45. Option volume leaders: AAPL FB BAC CHK WMB BABA TWTR MU AMBA TSLA JPM
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