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Stock Market & Financial Investment News

News Breaks
November 8, 2012
12:40 EDTJPM, MCD, MWW, QCOM, PANL, BWCOn 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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October 14, 2014
07:24 EDTQCOMIntel gains government ally in China with new deals, Reuters says
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06:47 EDTJPMJPMorgan: While challenges remain in recovery, US economy is exception
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06:46 EDTJPMJPMorgan reports Q3 Consumer & Business banking deposits up 9%
Reports Q3 credit card sales volume up 12%; Reports Q3 client investment assets up 16%. Reports Q3 Business Banking loan origination up 27%.
06:37 EDTQCOMUMC lands 28nm LTE chip orders from Qualcomm, DigiTimes reports
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06:06 EDTJPMUKAR sells GBP 2.7B mortgage portfolio to JPMorgan consortium
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05:33 EDTJPMJPMorgan reports Q3 headcount 138,686 vs. 156,064 last year
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05:31 EDTJPMJPMorgan reports Q3 results included $2.96B in other expenses
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05:24 EDTJPMJPMorgan reports Q3 EPS 1.36, consensus $1.38
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October 13, 2014
15:24 EDTJPMNotable companies reporting before tomorrow's open
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14:42 EDTJPMJPMorgan technical notes ahead of results
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14:06 EDTMCDMcDonald's to answer questions about food, AP reports
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12:42 EDTJPMJPMorgan Chase volatility increases into Q3 and guidance
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12:30 EDTJPMEarnings Preview: JPMorgan to report after disclosing massive security breach
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07:39 EDTJPMPharmaceutical Care Management Association to hold annual meeting
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07:19 EDTJPMAmEx, Capital One profits seen boosted by credit card 'sweet spot,' WSJ says
Credit card players such as American Express (AXP) and Capital One (COF), as well as banks with significant card units like JPMorgan (JPM), stand to benefit from the U.S. card industry's "sweet spot" of moderate economic growth, low interest rates and consumers who are better managing payments while growing their spending, said The Wall Street Journal, which noted that consulting firm R.K. Hammer estimates U.S. card issuers' revenue will grow 9% this year to $158.6B. Other U.S. banks with credit card units include Bank of America (BAC), Citigroup (C), and Wells Fargo (WFC) and other card companies include Visa (V) and MasterCard (MA). Reference Link
06:44 EDTJPMRegulators seeking banks' auto loan data, Reuters reports
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00:04 EDTJPMBanking regulators want more disclosure on auto loans, Reuters says
Banking regulators are requesting that banks provide more details on their auto loan portfolios, says Reuters. Balances remaining on auto loans are rising and about a fifth of the loans are subprime, added Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Capital One (COF), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
October 12, 2014
17:34 EDTJPMJPMorgan to double spending on cybersecurity over next five years, WSJ says
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17:20 EDTQCOMGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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13:03 EDTJPMBanks agree on derivatives procedures for future crisis scenario, WSJ says
Meeting at the Federal Reserve in Washington, top banking executives from 18 large U.S., European and Japanese banks agreed in principle to wait up to 48 hours before seeking to terminate derivatives contracts and collect associated payments from a troubled financial institution, says the Wall Street Journal. 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). Reference Link
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