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Stock Market & Financial Investment News

News Breaks
April 17, 2012
12:16 EDTAMTG, GS, DNN, JNJ, ZNGA, FSLR, KOOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, as the International Monetary Fund raised its view on U.S. and global growth prospects. Stock futures spurted higher during the pre-market trading session following the IMF’s increase in its growth projections. Also helping push the futures upward were positive earnings reports from some of the country’s largest corporations. The futures action led to a higher open for the broader market. The market pared its opening gains during the first 30 minutes of trading but then resumed it march higher and sat near its daily highs near noon... ECONOMIC EVENTS: Domestically, housing starts for the month of March decreased 5.8%, versus expectations of an increase of 1.0%. The annual run rate came in at 654,000 units, versus the consensus estimate of 750,000. The number of building permits issued, however, rose 4.5% to 747,000, versus expectations of a decrease of 0.7% to 710,000. Industrial production was reportedly flat in March, versus expectations for a 0.3% increase. Capacity utilization was in line with forecasts at at 78.6%. Also, the International Monetary Fund said it sees world output growing 3.5% in 2012, raising its projection for United States growth to 2.1%. The IMF said it sees growth in China slowing to 8.2% and real GDP in the euro area contracting in the first half of 2012 but then recovering... COMPANY NEWS: All but one Dow component was higher near noon, led by shares of Coca Cola (KO), which rose 2.7% following its better than expected earnings report. The only Dow decliner was Johnson & Johnson (JNJ), which reported adjusted earnings that beat expectations but revenues below the Street's forecast... Goldman Sachs's (GS) stock was nearly flat in spite of earnings and revenue that beat expectations and an increase in its quarterly dividend to 46c from 35c... MAJOR MOVERS: Among the notable gainers were First Solar (FSLR), up nearly 13%, after it announced plans to cut its global workforce by approximately 2,000 positions, or about 30%, in response to conditions in Europe, and Denison Mines (DNN), up almost 15%, after agreeing to sell its mining assets and operations located in the United States to Energy Fuels. Noteworthy losers included Apollo Residential Mortgage (AMTG), down 6%, after filing to sell 13.9M shares of its common stock, and Zynga (ZNGA), down over 3%, amid reports that its newly acquired Draw Something game has seen its daily active use fall off... INDICES: Near noon, the Dow was up 181.57, or 1.41%, to 13,102.98; the Nasdaq was up 50.58, or 1.69%, to 3,038.98; and the S&P 500 was up 19.24, or 1.40%, to 1,388.81.
News For KO;JNJ;GS;FSLR;DNN;AMTG;ZNGA From The Last 14 Days
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June 24, 2015
10:00 EDTGSOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
06:37 EDTGSDeutsche downgrades Citi, Goldman after share rallies
Deutsche Bank analyst Matt O'Connor recommends using the strong share performance of both Citi (C) and Goldman Sachs (GS) as on opportunity to take profits. The analyst this morning downgraded shares of both investment banks to Hold from Buy. Citi is up 21% from the lows on January 30 while Goldman is up 30% since July 1, 2014, the analyst points out. On Citi, O'Connor sees less near term upside with fixed income trading entering a seasonally weak period and core cost reductions largely over. On Goldman, the analyst sees a lack of catalysts to drive the stock meaningfully higher in the near term. His top picks among U.S. Banks are Bank of America (BAC), JPMorgan (JPM), M&T Bank (MTB) and SunTrust (STI).
06:27 EDTGSGoldman Sachs downgraded to Hold from Buy at Deutsche Bank
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June 23, 2015
06:53 EDTGSPSAV prepares for IPO that could raise roughly $300M, Bloomberg says
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05:30 EDTFSLRFirst Solar modules to power 200 MW solar PV project in Dubai
First Solar announced that it has signed an agreement to supply its high performance photovoltaic, or PV, modules to power the 200 MW AC second phase of the Mohammed bin Rashid Al Maktoum Solar Park in Dubai, the United Arab Emirates.
June 22, 2015
17:29 EDTKOCoca-Cola reports 16.7% stake in Monster Beverage
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June 19, 2015
11:21 EDTFSLR8point3 Energy Partners opens at $20.75, IPO priced at $21.00
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11:10 EDTFSLR8point3 Energy Partners IPO indicated to open $20.60
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10:57 EDTFSLR8point3 Energy Partners IPO indicated to open $20.75
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10:52 EDTFSLR8point3 Energy Partners IPO indicated to open $20.50
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10:51 EDTFSLR8point3 Energy Partners IPO indicated to open $20.25
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10:46 EDTFSLR8point3 Energy Partners IPO indicated to open $20, IPO priced at $21
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June 18, 2015
12:04 EDTKOActive options: AAPL ORCL FB RAD BAC HTZ MU GE TSLA AMZN BABA KO
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06:36 EDTGSGoldman tells interns not to stay in office overnight, Reuters reports
Goldman Sachs (GS), which has been looking to improve working conditions for its investment-banking interns, has set new guidelines, under which interns are expected to stay away from the office between midnight and 7 a.m. during weekdays, Reuters reports, citing company sources and confirmed by a Goldman spokesperson. Following the 2013 death of a Bank of America (BAC) intern in London, Goldman and other banks have taken steps to encourage its junior employees to take time off. Reference Link
06:21 EDTGSFour banks to pay nearly $1B to settle forex rigging suit, AFP reports
Goldman Sachs (GS), BNP Paribas (BNPQY), Barclays (BCS), and HSBC (HSBC) have all reached separate agreements to settle a U.S. civil lawsuit over alleged foreign exchange rigging in deals totaling approximately $1B, AFP reports, citing sources close to the situation. The agreements are preliminary and are subject to change, the sources told AFP, confirming an earlier report on the settlements from the Wall Street Journal. Barclays is expected to pay $375M, HSBC $285M, BNP Paribas roughly $200M, and Goldman Sachs about $130M, the report says.The four banks' pending agreements would settle the civil lawsuit filed by Scott & Scott and Hausfeld that claims their traders manipulated the forex market to boost the banks' profits, AFP reports. Reference Link
06:01 EDTGSBanks to settle civil forex lawsuit for nearly $2B, WSJ reports
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June 17, 2015
17:37 EDTGSGM hires advisers as Fiat Chrysler tries to force merger talks, Reuters says
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09:46 EDTZNGAJefferies to hold company meetings at E3 Expo
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07:21 EDTJNJGeneric ADHD drugs still sold despite FDA non-equivalance finding, NYT reports
The FDA announced last November that two generic versions of Johnson & Johnson's (JNJ) Concerta ADHD drug, one made by Mallinckrodt (MNK) and the other by UCB, could no longer be considered the equivalent of the branded drug after tests and analyses suggested that their effectiveness began to wear off much more quickly, but the drugs are still being sold despite an FDA mandated deadline having passed for the companies to either prove the drugs were equivalent or remove them from the market, said The New York Times. The report noted a third generic product, sold by Actavis (AGN), was found to be equivalent to the branded Concerta. Reference Link
06:48 EDTGSMore big banks waiving overdraft fees, WSJ reports
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