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Stock Market & Financial Investment News

News Breaks
July 2, 2014
12:54 EDTJPM, STZ, SFLY, STEM, DAL, VITC, KR, CAMPOn 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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July 15, 2014
09:21 EDTJPMOn The Fly: Pre-market Movers
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08:44 EDTJPMJPMorgan CFO says mortgage production environment remains challenging
JPMorgan CFO Marianne Lake speaking on earnings conference call.
08:41 EDTJPMJPMorgan reports firm NIM down 1 bp, core NIM down 2 bps
JPMorgan reports Q2 firm and core NIM down 1 bp and 2 bps sequentially, to 2.19% and 2.64%, respectively, primarily due to lower loan yields, partially offset by lower long-term debt yields.
08:34 EDTJPMJPMorgan CEO Dimon says feels great, prognosis excellent for condition
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08:30 EDTJPMJPMorgan sees current fixed income and equities environment to persist in Q3
In Fixed Income & Equities, JPMorgan expects the current environment to persist into Q3 with normal seasonal trends. In Securities Services, sees revenue to decrease by approximately $100M in Q3 from $1.14B in Q2, due to seasonality. In Treasury Services, expects revenue to be flat vs. Q2 at approximately $1B in Q3, primarily due to the impact of business simplification and lower trade finance balances and spreads. JPMorgan sees FY14 pretax margin and ROE to be lower than Q2, as the business continues to invest in both infrastructure and controls as well as select front office hiring, but is on track to deliver TTC targets for FY15. Guidance in slides for Q2 earnings conference call.
08:26 EDTJPMJPMorgan expects FY14 adjusted expense $58B+/-
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07:23 EDTJPMFortune to hold a conference
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07:08 EDTJPMJPMorgan CEO says saw encouraging signs toward end of Q2
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07:06 EDTJPMJPMorgan reports Q2 Basel III Common Equity Tier 1 ratio 9.8%
Reports Common Equity Tier 1 of $161B, or ratio of 9.8%. Reports Firm Supplementary Leverage Ratio of 5.4%. Reports "core loans" up 8% compared with the prior year. Consumer & Community Banking: average Consumer & Business Banking deposits up 9%; credit card sales volume up 12%; record client investment assets up 19%; record Business Banking loan originations up 46% Corporate & Investment Bank: maintained #1 ranking for Global Investment Banking fees with 8.2% wallet share YTD; assets under custody up 14%. Commercial Banking: period-end loan balances up 9%, driven by 14% growth in Commercial Real Estate; gross investment banking revenue with Commercial Banking clients up 25%. Asset Management: twenty-first consecutive quarter of positive net long-term client flows; record client assets up 15%; record loan balances up 17%.
07:05 EDTJPMJPMorgan reports headcount down 8,871 to 245,192
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07:04 EDTJPMJPMorgan reports Q2 provision for credit losses $692M
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07:02 EDTJPMJPMorgan says Q2 results include $500M after-tax, or 13c, legal expense
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07:01 EDTJPMJPMorgan reports Q2 adjusted EPS $1.46, consensus $1.29
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06:48 EDTKRKroger upgraded to Outperform from Market Perform at BMO Capital
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06:36 EDTDALLufthansa poised to reduce Venezuela flights amid forex battle, Reuters says
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06:22 EDTKRKroger upgraded to Outperform from Market Perform at BMO Capital
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06:19 EDTJPMJPMorgan reports June net charge losses 2.84% vs. 3.05% last month
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July 14, 2014
15:24 EDTJPMNotable companies reporting before tomorrow's open
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14:40 EDTJPMJPMorgan July 56.5 straddle priced for 2.2% move into Q2
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08:01 EDTJPMJP Morgan July volatility increases into Q2 and outlook
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