New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
April 11, 2014
16:21 EDTZIGO, WFC, HLF, HRB, JPM, AME, BOFI, NQOn The Fly: Closing Wrap
Stocks on Wall Street were lower in a session that saw the averages struggle for direction early before sellers gained control and pushed stocks lower through the second half of the session. With today's losses, the averages each finished the week with losses greater than 2%, with the tech-heavy Nasdaq losing 3% to close below 4,000 for the first time since early February. ECONOMIC EVENTS: In the U.S., the Producer Price Index jumped 0.5% in March, versus expectations for it to be up 0.1%. The University of Michigan consumer sentiment reading jumped to 82.6 in the preliminary April look, which was better than forecast and its highest reading since July. COMPANY NEWS: JPMorgan (JPM) and Wells Fargo (WFC) kicked off earnings season for the major banks, with their quarterly results, and stocks, moving in opposite directions following the news. Dow member JPMorgan fell $2.10, or 3.66%, to $55.30 after its earnings per share and revenue significantly trailed consensus estimates. Shares of Wells gained 37c, or 0.78%, to $48.08 after the bank's profits beat the consensus forecast. MAJOR MOVERS: Among the notable gainers was BofI Holding (BOFI), up $6.02, or 8.09%, to $80.46 near midday after the company last night announced a deal to acquire H&R Block's (HRB) bank assets. H&R Block shares fell 78c, or 2.74%, to $27.64. Also higher was Zygo (ZIGO), up $4.75, or 32.36%, to $19.43 after the company agreed to be acquired by Ametek (AME) for $19.25 per share in cash in a deal that represents an aggregate enterprise value of $280M for Zygo. Among the noteworthy losers was Herbalife (HLF), down $8.36, or 13.97%, to $51.48 after a report late in the session from the Financial Times said the company is facing a criminal investigation from the U.S. Department of Justice and FBI regarding its business practices. Also lower was NQ Mobile (NQ), a recent target of noted short-seller Carson Block, down $3.29, or 20.58%, to $12.70 after its profit missed expectations and the company disclosed that it found accounting errors in its recent reports. INDEXES: The Dow was down 143.47, or 0.89%, to 16,026.75; the S&P 500 was down 17.39, or 0.95%, to 1,815.69; the Nasdaq was down 54.37, or 1.34%, to 3,999.73.
News For JPM;WFC;BOFI;HRB;ZIGO;AME;HLF;NQ From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 >>
August 25, 2015
09:59 EDTJPMOn The Fly: Analyst Upgrade Summary
Subscribe for More Information
09:35 EDTJPMActive equity options trading on open
Subscribe for More Information
09:13 EDTJPMOn The Fly: Pre-market Movers
Subscribe for More Information
08:00 EDTHLFTwitter wants to move Herbalife suit to California, NY Post reports
Subscribe for More Information
07:57 EDTAMEAmetek management to meet with
Subscribe for More Information
07:28 EDTJPM, JPMJPMorgan upgraded to Buy from Outperform at CLSA
CLSA analyst Mike Mayo upgraded JPMorgan to Buy from Outperform with a $78 price target. Mayo said JPMorgan offers the most stable earnings of U.S. global banks for the past decade, a resilient balance sheet, and a dividend yield above the 10 year bond that implies outperformance 85% of the time historically.
August 24, 2015
18:02 EDTJPMS&P 500 enters correction territory amid global growth concerns
Subscribe for More Information
12:26 EDTWFCAvolon Capital acquires Airbus A321-200 aircraft on lease to Vueling Airlines
Subscribe for More Information
10:10 EDTAMEHigh option volume stocks
Subscribe for More Information
07:34 EDTJPMJP Morgan volatility at high end of range
Subscribe for More Information
07:01 EDTWFCWells Fargo volatility at high end of range
Subscribe for More Information
August 21, 2015
11:24 EDTHRBIntuit plummets after Q1, FY16 outlooks trail estimates
Shares of tax preparation software provider Intuit (INTU) are sinking after the company's first quarter and fiscal 2016 outlooks significantly trailed analyst's consensus estimates. WHAT'S NEW: After the close on Thursday, Intuit reported fourth quarter adjusted earnings per share of (5c) and revenue of $696M, compared to analysts' consensus estimates of (12c) and $738.98M, respectively. In the U.S., TurboTax Online units increased 11% and total TurboTax units grew 7%, excluding the Free File Alliance, the company said. Additionally, Intuit said it reached 1.075M QuickBooks Online subscribers through the end of Q4 and increased total QuickBooks online subscribers by 57% for the year. Brad Smith, Intuit's president and Chief Executive Officer said the company closed out fiscal year 2015 "on a strong note," adding that the company's small business momentum "continues to build and our QuickBooks Online ecosystem growth is accelerating." Looking ahead, Intuit said it expects Q1 adjusted EPS of (4c)-(3c) and revenue of $660M-$680M, well below analysts' consensus estimates of of 6c and $776.36M, respectively. For FY16, the company expects adjusted EPS of $3.40-$3.45 and revenue of $4.53B-$4.6B, far short of the consensus of $3.82 and $5.04B, respectively. WHAT'S NOTABLE: In its earnings release, Intuit announced its intent to divest Demandforce, QuickBase and Quicken. The divestment will help Intuit "focus on and invest in businesses that strengthen the ecosystem and align with two strategic goals: to be the operating system behind small business success, and to do the nations' taxes in the U.S. and Canada," the company said. As a result of the decision, the company said FY16 adjusted EPS will be reduced by about 10c and revenue will be reduced by approximately $250M, as the company reports these assets as discontinued operations. Separately, Intuit raised its dividend for the first quarter by 20% to 30c per share, payable on October 19. ANALYST REACTION: First Analysis analyst James Macdonald downgraded Intuit this morning to Underweight from Equal Weight. Macdonald said Intuit's small business online ecosystem has "relatively low monetization." PRICE ACTION: In late morning trading, Intuit fell $10.80, or 10.41%, to $92.23 on more than twice its average daily trading volume. Despite today's pull back, the shares have gained approximately 5% over the past year. OTHERS TO WATCH: Other companies in the tax preparation space include Liberty Tax (TAX), up 0.16%, and H & R Block (HRB), down 1.5%.
08:40 EDTJPMCanadian Security Traders Association to hold a conference
Subscribe for More Information
August 20, 2015
09:03 EDTJPMJPMorgan appoints General Ray Odierno as senior advisor
JPMorgan Chase & Co. announced the appointment of retired four-star General Raymond T. Odierno, former Chief of Staff of the U.S. Army, to a senior advisory capacity at the firm, effective September 1.
05:48 EDTWFCStocks with implied volatility movement; WFC XLI
Stocks with implied volatility movement; Wells Fargo (WFC) 16, Industrial Select Sector SPDR (XLI) 18 according to iVolatility.
August 19, 2015
14:42 EDTJPMBanks cooperate on data company to lower costs, WSJ says
Subscribe for More Information
August 18, 2015
17:35 EDTWFCWells Fargo to build additional car loan branches, Reuters says
Subscribe for More Information
16:58 EDTJPMJPMorgan in talks to settle investment bias charges for $150M, WSJ says
JPMorgan is in advanced discussions with the SEC to settle allegations that it inappropriately guided clients to its own investment products, reports the Wall Street Journal, citing people familiar with the matter. Reference Link
August 17, 2015
06:12 EDTJPMJPMorgan reports July net credit losses 2.31% vs. 2.34% last month
Subscribe for More Information
05:55 EDTJPMJPMorgan upgraded to Outperform from Market Perform at Keefe Bruyette
Keefe Bruyette analyst Christopher Mutascio upgraded JPMorgan to Outperform with a $77 price target, suggesting total return potential of 16%. Mutascio views the stock's valuation as attractive and highlights the "high dividend yield in a low-interest-rate environment."
1 | 2 | 3 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use