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Stock Market & Financial Investment News

News Breaks
April 17, 2012
12:16 EDTDNN, JNJ, ZNGA, FSLR, KO, AMTG, GSOn 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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December 15, 2014
10:10 EDTFSLRSolar stocks could be volatile ahead of ITC/ITA decisions, says Brean Capital
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December 12, 2014
14:01 EDTJNJGenOn Energy to receive $3M milestone payment in Janssen collaboration
Genmab announced it has reached a milestone in its DuoBody technology platform collaboration with Janssen Biotech (JNJ), triggering a $3M payment. The milestone payment is for pre-clinical progress with a DuoBody product candidate targeting cancer. Today's news will not impact Genmab's 2014 financial guidance.
December 11, 2014
10:17 EDTGSFINRA fines Barclays Capital, Citigroup Global Markets, others $43.5M total
FINRA announced that it has fined 10 firms a total of $43.5M for allowing their equity research analysts to solicit investment banking business and for offering favorable research coverage in connection with the 2010 planned initial public offering of Toys"R"Us. FINRA fined the following firms. Barclays Capital (BCS) - $5M; Citigroup Global Markets (C) – $ 5M; Credit Suisse Securities (CS) – $5M; Goldman, Sachs & Co. (CS) – $5M; JP Morgan Securities LLC (JPM) – $5M; Deutsche Bank Securities Inc. (DB) – $4M; Merrill Lynch, Pierce, Fenner & Smith Inc. (BAC) – $4M; Morgan Stanley & Co., LLC (MS) – $4M; Wells Fargo Securities, LLC (WFC) – $4M; Needham & Company LLC – $2.5M. In addition, FINRA found that six of the 10 firms — Barclays, Citigroup, Credit Suisse, Goldman Sachs, JP Morgan and Needham — had inadequate supervisory procedures related to research analyst participation in investment banking pitches. Toys"R"Us and its sponsors offered each of the 10 firms various roles in the IPO but it eventually decided not to proceed with the offering. In settling this matter, the 10 firms neither admitted nor denied the charges, but consented to the entry of FINRA's findings.
07:49 EDTGSThe New York Times to hold a conference
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December 10, 2014
16:24 EDTGSGoldman Sachs reports 10.7% passive stake in Navios Maritime Midstream
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11:57 EDTFSLRStocks with call strike movement; NFX FSLR
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10:00 EDTGSOn The Fly: Analyst Downgrade Summary
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10:00 EDTKOCoca-Cola to host conference call
Conference call to address financial and modeling-related questions will be held on December 15 at 4:30 pm. Webcast Link
08:05 EDTFSLRFirst Solar announces strategic investment in Clean Energy Collective
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06:57 EDTGSGoldman Sachs downgraded at Susquehanna
As previously reported, Susquehanna downgraded Goldman Sachs to Neutral from Positive. The firm downgraded shares based on full valuation and expectations the fall in energy prices will weigh on high yield and loan volumes into 2015, and pressure the debt portion of investing and lending in the secondary markets. Price target lowered to $200 from $218.
06:32 EDTGSGoldman Sachs downgraded to Neutral from Positive at Susquehanna
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December 9, 2014
14:57 EDTGSFed to propose rulemaking on risk-based capital surcharges for GSIB banks
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14:42 EDTGSFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
05:50 EDTJNJPharmacyclics data demonstrates safety, durability response
New, 27-month IMBRUVICA median follow-up data announced by Pharmacyclics (PCYC) support the use of IMBRUVICA over longer periods of time in patients with relapsed/refractory mantle cell lymphoma, or MCL, an aggressive type of lymphoma. More than 30% of IMBRUVICA patients remained progression-free after two years with no new or unexpected adverse events occurring during that time. Nearly half of the 111 patients treated were still living at the time of the data analysis. A second Phase II trial looked at IMBRUVICA's efficacy and safety as a single-agent treatment for MCL patients who previously had received rituximab combination therapy and at least two cycles of bortezomib. IMBRUVICA combination therapy resulted in an 88% overall response rate in MCL patients with a complete response rate of 40%. IMBRUVICA is jointly developed and commercialized by Pharmacyclics and Janssen Biotech, a unit of Johnson and Johnson (JNJ).
05:43 EDTJNJPharmacyclics reports IMBRUVICA data shows 84% PFS rate at one year
Pharmacyclics (PCYC) announced new, longer term data in IMBRUVICA patients with relapsed/refractory chronic lymphocytic leukemia, or CLL, including high-risk CLL patients with deletion 17p. Results from the Phase III RESONATE trial demonstrated an 84% progression-free survival, or PFS, rate in all patients with previously treated CLL or small lymphocytic lymphoma, or SLL, who received IMBRUVICA and a 94% PFS rate in patients who received only one prior therapy at 12 months. Separately, follow-up data was reported from Phase II RESONATE-17, or PCYC-1117, the largest prospective trial dedicated to studying CLL or SLL patients with del 17p. The data showed that IMBRUVICA was associated with an 83% overall response rate, or ORR, at a median follow up of 11.5 months. At 12 months, the estimated PFS was 79%. These results and additional data were presented here at the 56th American Society of Hematology, or ASH, Annual Meeting, highlighting IMBRUVICA's sustained efficacy in relapsed/refractory patients who have received at least one prior therapy. IMBRUVICA combination therapy resulted in an 88% overall response rate in MCL patients with a complete response rate of 40%. IMBRUVICA is jointly developed and commercialized by Pharmacyclics and Janssen Biotech, a unit of Johnson and Johnson (JNJ).
05:27 EDTJNJPharmacyclics IMBRUVICA Phase II combination data shows positive profile
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December 8, 2014
16:22 EDTKOCoca-Cola Bottling in pact with Coca-Cola to expand franchise territory
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11:55 EDTGSGoldman Sachs ordered to pay $7.6M in wrongful discharge claim
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06:35 EDTGSValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
December 7, 2014
14:54 EDTJNJIMBRUVICA data suggests promise in multiple myeloma
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