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Stock Market & Financial Investment News

News Breaks
July 2, 2014
12:54 EDTCAMP, DAL, STZ, KR, STEM, JPM, VITC, SFLYOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after ADP's hiring report gave some reassurance that tomorrow's monthly non-farm payroll report report may be a strong one. Despite ADP's employment change report soundly beating the consensus forecast, stock index futures showed little reaction, leading to a quiet open for the broader market. The averages have moved in a narrow range since the open and have done so on light volume. ECONOMIC EVENTS: Payroll provider ADP estimated that U.S. companies added 281,000 workers to their payrolls in June, which was well above the consensus 210,000 forecast. Factory orders fell 0.5% in May, versus the forecast for them to be down 0.4%. COMPANY NEWS: JPMorgan Chase (JPM) chairman and CEO Jamie Dimon announced to employees and shareholders that he has been diagnosed with throat cancer. "The good news is that the prognosis from my doctors is excellent, the cancer was caught quickly, and my condition is curable," Dimon stated, adding that he will be able to continue to be actively involved in the business and will continue to run the company as normal... Shares of beer and wine maker Constellation Brands (STZ) advanced 3% after after its quarterly results beat expectations and the company raised its FY15 earnings view. MAJOR MOVERS: Among the notable gainers was online healthy living products retailer Vitacost.com (VITC), which jumped 27% after grocer Kroger (KR) agreed to buy the company for $280M, or $8.00 per share. Also higher was StemCells (STEM), which rose 15% after Brinson Patrick initiated coverage of the stock with an Outperform rating and $7 price target, saying it expects the company to have robust Phase II data over the next 24 months for its neural stem cells in both chronic spinal cord injury and geographic atrophy age-related macular degeneration. Another stock trading higher was Shutterfly (SFLY), which gained 14% after Bloomberg, citing sources, said the company has hired investment bank Qatalyst Partners to help it potentially sell itself. Among the noteworthy losers was CalAmp (CAMP), which fell 11% after reporting quarterly results and second quarter guidance that missed analysts' consensus estimates. Also lower were shares of Delta Air Lines (DAL), which fell 5% after reporting its passenger revenue per available seat mile, or PRASM, rose 4.5% in June and noting that corporate and domestic strength offset lower than expected international yields driven by industry-wide capacity increases and lower business demand to Latin America due to the World Cup. After Delta's report, Cowen suggested using the associated weakness in airline stocks as a buying opportunity. INDEXES: Near midday, the Dow was up 14.66, or 0.09%, to 16,970.73, the Nasdaq was up 4.68, or 0.1%, to 4,463.33, and the S&P 500 was up 0.91, or 0.05%, to 1,974.23.
News For JPM;STZ;SFLY;STEM;DAL;VITC;KR;CAMP From The Last 14 Days
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April 13, 2015
11:12 EDTJPMJP Morgan April volatility elevated into Q1 and outlook
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10:33 EDTSTZOptions with decreasing implied volatility
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06:07 EDTDALUS airline carriers accused of hypocrisy in subsidy debate, LA Times reports
American Airlines (AAL), Delta Air Lines (DAL) and United Airlines (UAL) have complained that Etihad, Emirates and Qatar Airlines have an unfair advantage due to the $42B in government subsidies received over the last decade, reports the Los Angeles Times. The U.S. carriers have asked federal officials to renegotiate an Open Skies agreement, although a new congressional report says that the U.S. airline industry benefited from $155B in support from the U.S. government from 1918 to 1999. Reference Link
April 10, 2015
14:18 EDTJPMJP Morgan April volatility elevated into Q1 and outlook
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10:22 EDTSTZOptions with decreasing implied volatility
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06:21 EDTJPMBofA Merrill poaches JP Morgan's Brabazon for M&A group, Reuters reports
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April 9, 2015
18:28 EDTDALDelta reports IAM union's application dismissed by National Mediation Board
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09:12 EDTDALDelta Air volatility elevated into Q1 and outlook
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07:34 EDTSTZConstellation Brands sees FY16 comparable EPS $4.70-$4.90, consensus $4.85
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07:32 EDTSTZConstellation Brands reports Q4 EPS $1.03, consensus 94c
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07:19 EDTSTZConstellation declares initial quarterly dividend of 31c on Class A shares
Constellation Brands announced that its board of directors has approved the initiation of a dividend program under which the company intends to pay a regular quarterly cash dividend to stockholders of its common stock. Constellation's board of directors declared an initial quarterly cash dividend of 31c per share of Class A Common Stock and 28c per share of Class B Common Stock, payable on May 22 to stockholders of record as of the close of business on May 8. CFO Bob Ryder, stated, "Both our beer and wine and spirits businesses have strong, consistent, cash generation capabilities and produce solid returns on invested capital. The beer business acquisition and our organic growth focus across our businesses have strengthened our financial profile and created significant capital allocation flexibility and shareholder return opportunities. We are initially targeting a dividend payout ratio of 25% - 30% of our comparable basis net income. Going forward, we will evaluate opportunities to increase our dividend based on the growth of our net income and free cash flow."
07:13 EDTJPMJPMorgan CEO sees legal cost normalizing next year, WSJ reports
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06:55 EDTJPMJPMorgan added to U.S. Focus List at Credit Suisse
Credit Suisse added Outperform rated JPMorgan to the U.S. Focus List to reflect balance sheet optimization and balance sheet deployment, and catalysts that include clarification mandated domestic GSIB capital surcharges and continued fundamental performance.
April 8, 2015
15:25 EDTSTZNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Walgreens Boots Alliance (WBA), consensus 95c... Constellation Brands (STZ), consensus 94c... Synergy Resources (SYRG), consensus 4c.
15:06 EDTSTZConstellation Brands technical comments before earnings
The stock has been on a rapid rise since the start of the year, trading up 20%. Concerns have begun to emerge about share valuation, but that has not stopped the breakout in price that began in mid-2012 from gaining momentum. With price close to the life high at $120.24, there is little in the way of overhead resistance. A move to the $125 to $130 area would seem quite probable on strong news or outlook, using price channel projection as a guide. This technical move would fit largely with analyst price targets according to Thomson/First Call. The $125 area is the median price target, with the mean at $120.53 and the high at $137. The low target at $82 is something of an outlier, but is still above the 52-week low at $76.26. If the news were a disappointment, given the extension in valuation and the price run-up, there could be a larger than normal correction in price. First support would be at the 50-day moving average at $114.84. If that moving average were broken, next support would be at $109.91 and then at $100.77. In view of the long-term trend, it would take a move down to and below the 50-week moving average at $96.10 to break the long-term uptrend. Each touch of that average has been an initiation point for longs in the last two years.
April 7, 2015
14:56 EDTDALDelta flight with emergency issue lands safely, AirLive.net reports
LaGuardia Delta (DAL) GJS6248 just landed safely, according to AirLive.net, citing Twitter user @News_Executive. Reference Link
14:53 EDTDALDelta flight into New York reporting emergency, Breaking911 says
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10:05 EDTJPMOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Carnival (CCL) upgraded to Outperform from Market Perform at Wells Fargo... Crown Castle (CCI) upgraded to Buy from Hold at Evercore ISI... Ctrip.com (CTRP) upgraded to Overweight from Neutral at Piper Jaffray... Demandware (DWRE) upgraded to Conviction Buy from Buy at Goldman... FirstEnergy (FE) upgraded at BofA/Merrill... Frontier Communications (FTR) upgraded to Neutral from Underperform at DA Davidson... JPMorgan (JPM) upgraded to Outperform from Market Perform at Bernstein... Pattern Energy (PEGI) upgraded to Outperform from Market Perform at Raymond James... Ralph Lauren (RL) upgraded to Buy from Outperform at CLSA... ResMed (RMD) upgraded to Outperform from Neutral at Credit Suisse... Ryanair (RYAAY) upgraded to Overweight from Neutral at JPMorgan... Splunk (SPLK) upgraded to Overweight from Neutral at Piper Jaffray... Total (TOT) upgraded at RBC Capital... Verifone (PAY) upgraded to Buy from Hold at Stifel... XL Group (XL) upgraded to Buy from Neutral at UBS.
09:08 EDTJPMGoldman says buy JPMorgan, Signature Bank, and Regions Financial into Q1
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07:18 EDTJPMJPMorgan upgraded to Outperform from Market Perform at Bernstein
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