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Stock Market & Financial Investment News

News Breaks
April 11, 2014
13:01 EDTVJET, ZNGA, JPM, AME, BOFI, NQ, ZIGO, HRB, WFCOn The Fly: Midday Wrap
Stocks on Wall Street were lower again at midday, with the Dow being weighed on by a disappointing earnings report from banking giant JPMorgan (JPM). The reports from JPMorgan and peer Wells Fargo (WFC) certainly seemed to have more of an impact on market sentiment than the better than expected University of Michigan consumer confidence reading. 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 and Wells Fargo kicked off earnings season for the major banks, with their stocks moving in opposite directions to mirror their earnings results. Dow member JPMorgan slipped more than 3% after its earnings per share and revenue significantly trailed consensus estimates, while Wells shares gained about 1.5% after the bank's profits beat the consensus forecast. Both noted, however, that their capital levels continued to strengthen during the quarter and both gave optimistic views on their ability to continue to reduce expenses. MAJOR MOVERS: Among the notable gainers was BofI Holding (BOFI), which rose 11% near midday after the company last night announced a deal to acquire H&R Block's (HRB) bank assets. H&R Block shares were down over 2% near noon. Also higher was mobile game maker Zynga (ZNGA), whose shares gained almost 3% after the company announced a new CFO and the stock was upgraded to Equal Weight by analysts at Morgan Stanley. Another gainer, Zygo (ZIGO), jumped 31% 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. Shares of Ametek also rose 1.5% following the deal announcement. Among the noteworthy losers was 3D-printer maker Voxeljet (VJET), which fell 16% after its 3-million-share secondary offering of common stock priced at $15.00. Also lower was NQ Mobile (NQ), a recent target of noted short-seller Carson Block, which dropped over 13% after its profit missed expectations and the company disclosed that it found accounting errors in its recent reports. INDEXES: Near midday, the Dow was down 81.88, or 0.51%, to 16,088.34, the Nasdaq was down 15.30, or 0.38%, to 4,038.80, and the S&P 500 was down 6.89, or 0.38%, to 1,826.19.
News For JPM;WFC;NQ;ZNGA;HRB;BOFI;VJET;ZIGO;AME From The Last 14 Days
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April 14, 2015
08:07 EDTWFCWells Fargo reports Q1 Common Equity Tier 1 ratio 10.86%
Wells Fargo reports Q1 Common Equity Tier 1 of $139.2B under Basel III, or 10.86% of risk-weighted assets. The Common Equity Tier 1 ratio under the Basel III framework was 10.53%. During Q1, the company purchased 48.4M shares of its common stock and entered into a $750M forward repurchase transaction for an additional 14M shares, which settled in early April.
08:03 EDTWFCWells Fargo reports Q1 EPS $1.04, consensus 98c
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07:22 EDTJPMJPMorgan sees Q2 Markets revenue hurt $300M by business simplification
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07:20 EDTJPMJPMorgan sees FY15 core loan growth of 10%+/-
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07:17 EDTJPMJPMorgan reports firmwide total credit reserves of $14.7B
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07:10 EDTJPMJPMorgan up 0.5% to $62.35 in pre-market following Q1 report
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07:08 EDTJPMJPMorgan reports Q1 Basel III common equity Tier 1 ratio 10.6%
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07:06 EDTJPMJPMorgan CEO says franchise getting safer, stronger
Jamie Dimon, JPMorgan Chairman and CEO, said: “JPMorgan Chase continues to support consumers, businesses and communities and make a significant positive impact. We have an outstanding franchise which is getting safer and stronger, and is gaining market share over time. We continue to build the company for the long-term, we are investing in controls, infrastructure, systems, technology, new products and bankers. We will continue to navigate challenges and deliver for our clients, shareholders and communities.”
07:03 EDTJPMJPMorgan reports tangible book value per share up 9% to $45.45
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07:01 EDTJPMJPMorgan says Q1 results include $487M, or 13c, significant item legal expense
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07:00 EDTJPMJPMorgan reports Q1 EPS $1.45, consensus $1.40
Reports Q1 GAAP revenue $24.1B, consensus $24.5B. Reports Q1 managed basis revenue $24.82B.
April 13, 2015
16:21 EDTWFC, JPMOn The Fly: Top stock stories for Monday
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15:38 EDTJPM, WFCNotable companies reporting before tomorrow's open
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15:26 EDTWFCWells Fargo April 54.5 straddle priced for 2.2% movement into Q1
15:18 EDTJPMJPMorgan technical notes ahead of earnings
The shares are trading close to the 52-week high which is at $63.49. On strongly positive news, the stock would be pushed toward the life high at $67.17. That would be an important technical milestone if it was reached. Traders should note however that that move would on a long-term basis appear as a move up to prior resistance without being a bullish breakout. Until or if there is a breakout above the old life high, there is retracement risk even on good results. On news that is more bearish than current expectations would suggest, first major support would be at the 50-day moving average at $60.10. On a move below that level, next support would be at $57.87.
15:10 EDTJPMJPMorgan April 62 straddle priced for 2.6% movement into Q1
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13:57 EDTJPMEarnings Watch: Analysts upbeat on JPMorgan ahead of Q1 results
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12:39 EDTWFCWells Fargo April volatility elevated into Q1 and outlook
Wells Fargo April call option implied volatility is at 27, May is at 17, June is at 15; compared to its 26-week average of 17 according to Track Data, suggesting large near term price movement in the expected release of Q1 results on April 14.
11:16 EDTWFCConocoPhillips looks to sell noncore U.S. acreage, Reuters says
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11:12 EDTJPMJP Morgan April volatility elevated into Q1 and outlook
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