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Stock Market & Financial Investment News

News Breaks
August 3, 2012
14:42 EDTKCG, CMCSA, GMMarket set to end week higher after economic data cheers investors
Stocks fell early in the week after central bankers in the U.S. and Europe disappointed investors, but today's better than expected economic data has left stocks poised to finish the week higher... MARKET NEWS: After holding a two-day meeting, the Fed on Wednesday didn't indicate that it was launching another round of stimulus. On the other side of the Atlantic, European Central Bank President Mario Draghi indicated that his central bank may buy sovereign bonds in the future, but did not outline concrete plans for doing so. However, stocks look set to end the week on a positive note after the U.S. reported that its economy had added 163,000 net new nonfarm jobs in July, versus the consensus estimate of 100,000. Meanwhile, an index of non-manufacturing activity for July came in at 52.6, versus the consensus estimate of 52.0... COMPANY NEWS: Knight Capital (KCG) on Wednesday announced that it had lost $440M due to erroneous trades triggered by a software glitch. The brokerage firm is looking to obtain funds in order to stay afloat... GM (GM) yesterday morning reported higher than expected EPS but lower than expected revenue. The automaker's European operations generated a Q2 EBIT-adjusted loss of $0.4B... Comcast (CMCSA) reported higher than expected Q2 EPS and in-line revenue.
News For KCG;GM;CMCSA From The Last 14 Days
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March 18, 2015
07:30 EDTCMCSAAT&T-DirecTV getting less attention than Comcast-Time Warner Cable, Reuters says
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07:18 EDTKCGWells Fargo to hold a forum
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06:16 EDTCMCSAAmerican Express to launch Plenti loyalty program this spring, WSJ reports
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March 17, 2015
16:40 EDTCMCSACharter shareholders approve share issuance in transactions with Comcast
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14:13 EDTGMMorgan Stanley questions GM capital allocation plan
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13:06 EDTCMCSABattleground: Analysts take opposite sides on Netflix
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12:46 EDTCMCSANBC planning for cable-dependent Apple TV app for 2H15, 9to5Mac reports
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11:36 EDTCMCSAApple may launch standalone TV in 2016, says Piper Jaffray
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10:21 EDTCMCSAAtlanta Braves and Comcast announce technology and real estate partnership
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08:05 EDTGMGeneral Motors coverage resumed with an Underweight at Morgan Stanley
Morgan Stanley reinstated General Motors with an Underweight and $28 price target. The firm believes GM's agreement to accelerate capital returns to investors is a popular short-term decision but raises questions longer-term by increasing both financial and strategic risks.
06:23 EDTGMGM employees to be deposed for class action case, NY Times says
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March 16, 2015
11:06 EDTGMGM ignition switch death claims rises to 67, WSJ says
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10:44 EDTCMCSANetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
March 13, 2015
17:11 EDTCMCSASony Pictures TV nears streaming video deal for Seinfeld, WSJ reports
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16:42 EDTGMStocks end week lower amid euro slide, Fed rate hike worries
Stocks finished the week lower as worries about the impact of the euro's fall against the dollar, along with continued anticipation of an upcoming rate hike by the Fed and concerns about deflation, weighed on shares. MACRO NEWS: The euro's slide against the dollar continued, causing investors to worry that the trend could have a significant negative impact on the results of U.S. based, multinational companies... Anticipation of an impending interest rate hike continued to impact the market. On Tuesday, outgoing Dallas Fed President Richard Fisher said the central bank should begin to gradually raise rates before the economy reaches full employment to avoid triggering a recession. On Thursday, stocks rose as investors speculated that weak February retail sales data could cause the central bank to delay raising interest rates... An unexpected decline in the producer price index, which was reported on Friday, may have rekindled fears about deflation taking hold in the U.S., weighing on stocks... In China, the government said that industrial production rose less than expected in the first two months of the year. China's exports were reported to surge 15% in the first two months of the year versus the same period a year earlier, but data also indicated that China's imports sank 20% in the first two months of 2015. COMPANY NEWS: Apple (AAPL) provided additional information about its upcoming Apple Watch at a product launch event. Apple Watch will be available on Friday, April 24 to customers in nine countries, including the U.S., with pre-orders beginning April 10. The lowest priced Apple Watch, the 38 mm Apple Watch Sport, will be priced at $349, while the 18-karat gold Apple Watch Edition will be priced starting at $10,000... Embattled floor retailer Lumber Liquidators (LL) updated investors on the impact of a recent critical report from 60 Minutes. In the nine days following the report, same-store sales fell 12.7% versus the same period a year earlier, it reported. The company added that it was not able to provide full-year guidance until it has more time to gauge the impact of consumers' reaction to the report... GM (GM) settled a potential proxy battle with an investment group led by Harry Wilson by agreeing to return more cash to shareholders... Alcoa (AA) agreed to buy RTI International Metals (RTI), which supplies specialty metals and services for several sectors, including aerospace and defense... Credit Suisse (CS) appointed Tidjane Thiam, who is currently Group Chief Executive of Prudential (PUK), as its new CEO... The shares of several chicken producers fell after a possible case of bird flu was identified in Arkansas. Among the chicken producers that declined were Tyson (TSN), which is based in Arkansas, Pilgrim's Pride (PPC), Sanderson Farms (SAFM), and Hormel (HRL)... GNC Holdings (GNC) sank after New York's Attorney General announced that he and three of his colleagues would further investigate the business practices of the herbal supplement industry. INDEXES: For the week, the Dow was down 0.57% to 17,749.31, the Nasdaq fell 1.12% to 4,871.76, and the S&P 500 dropped 0.87% to 2,053.40.
16:03 EDTKCGKCG completes sale of KCG Hotspot, reduces headcount by 40 employees
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15:01 EDTCMCSAFCC stops 180-day clock in Comcast, AT&T deal proceedings
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11:17 EDTGMGeneral Motors settles suit over death that triggered recalls, Bloomberg says
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09:20 EDTCMCSABofA/Merrill media/telecom analysts hold analyst/industry conference call
Media & Telecom Analyst Reif-Cohen and Barden, along with Matthew Brill, Pratner at Latham & Watkins LLP, discuss the FCC Open Internet Order on an Analyst/Industry conference call to be held on March 13 at 11 am.
07:37 EDTKCGKCG Holdings reports Feb. trade volumes
KCG Holdings released trade volumes for the month of February. In Market Making, KCG averaged $30.8B dollar volume traded, 5.0B shares traded, and 4.0M trades per day in U.S. equities. In Global Execution Services: KCG electronic execution averaged 298.2M shares traded per day in U.S. equities. KCG Hotspot averaged $26.3B per day in notional foreign exchange dollar volume. KCG BondPoint averaged $151.5M per day in fixed income par value. As for the overall market conditions in February, consolidated U.S. equity volume averaged $275.8B in dollar volume and 6.8B shares traded per day. The realized volatility for the S&P 500 was 9.7. In February, there were 19 trading days in U.S. equities and fixed income, and 20 in foreign exchange.
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