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Stock Market & Financial Investment News

News Breaks
November 19, 2012
16:25 EDTLOW, INTC, TSN, LGND, GSK, DMND, LRNOn The Fly: Closing Wrap
Stocks on Wall Street were higher after the averages all advanced sharply at the open and maintained gains through the trading day. Optimism about hopes for a resolution to the fiscal cliff helped push stocks into positive territory Friday and that positive momentum carried over as the new week began. Positive economic data from the National Association of Realtors also buoyed investor confidence on the day... ECONOMIC EVENTS: In the U.S., the National Association of Realtors said that resales of existing homes climbed 2.1% last month to a seasonally adjusted annual rate of 4.79M units, beating forecasts for sales to have declined 0.2% from the prior month. The housing market index for November, a barometer of homebuilder sentiment, rose to 46, versus expectations for a flat 41 reading... COMPANY NEWS: Lowe's (LOW) reported earnings per share with charges that met expectations and revenue that beat consensus, sending shares higher $1.98, or 6.19%, to $33.96... Intel's (INTC) CEO Paul Otellini announced plans to retire in May and shares leveled off after some early day volatility, ending up 6c, or 0.30%, to $20.25... MAJOR MOVERS: Among the notable gainers was Tyson Foods (TSN), advancing $1.84, or 10.90%, to $18.72 after its quarterly earnings beat consensus and the company raised its regular dividend and declared a special dividend. Also higher were shares of Ligan Pharmaceuticals (LGND), up $2.40, or 14.40%, to $19.07 after the company's partner GlaxoSmithKline (GSK) said the FDA approved a new indication for its supportive care treatment for a condition associated with chronic hepatitis C. Among noteworthy losers was (DMND), down $1.79 or 11.83%, to $13.34 after the stock was downgraded to Underperform from Hold at Jeffries. Also lower were shares of K12 (LRN), down $3.84, or 18.78%, to $16.61 following a downgrade to Market Perform at Wells Fargo prompted by issues at one of its schools in Colorado. The company said in a midday release that it has been working "for some time" with Colorado Virtual Academy to address the performance issues that have arisen there... INDICES: The Dow was up 207.65, or 1.65%, to 12,795.96; the Nasdaq was up 62.94, or 2.21%, to 2,916.07; and the S&P 500 was up 27.01, or 1.99%, to 1,386.89.
News For LOW;INTC;TSN;LGND;GSK;DMND;LRN From The Last 14 Days
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July 15, 2014
10:00 EDTINTCOn The Fly: Analyst Initiation Summary
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09:21 EDTGSKOn The Fly: Pre-market Movers
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07:33 EDTINTCIntel July 31.5 straddle priced for 3% move into Q2
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07:23 EDTINTCFortune to hold a conference
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07:15 EDTLOWIIR Holdings to hold a conference
14th Annual Shopper Insights in Action Conference to be held in Chicago on July 14-16.
July 14, 2014
21:08 EDTGSKCodexis to host conference call
Conference call to discuss the strategic collaboration and license agreement with GSK will be held on July 15 at 8:30 am. Webcast Link
16:41 EDTINTCIntel initiated with an Outperform at Imperial Capital
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16:06 EDTGSKCodexis announces $25M collaboration, license agreement with GlaxoSmithKline
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13:02 EDTINTCIntel technical comments ahead of earnings
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09:14 EDTINTCSemiconductor top picks at Topeka
Topeka's anticipates strong unit growth in the smartphone, tablet and wearable end markets and recommends exposure to large/mid cap growth names Intel (INTC), Skyworks (SWKS), Atmel and (ATML), small cap growth name, Rambus (RMBS), and value names Freescale (FSL), Spansion (CODE) and Silicon Motion (SIMO).
09:07 EDTINTCMellanox Q3 guidance likely to be conservative, says Janney Capital
Janney Capital said it expects Mellanox' (MLNX) Q2 revenue to be in-line and for its Q3 guidance to be conservative, as the firm believes the High Performance Computing market has temporarily slowed ahead of Intel's (INTC) release of its Grantley processors. However, the firm thinks that HPC will recover soon and it maintains its Buy rating and $57 fair value estimate on Mellanox.
08:52 EDTINTCIntel volatility increases into Q2 and outlook
Intel July call option implied volatility is at 27, August is at 20, October is at 18; compared to its 26-week average of 19 according to Track Data, suggesting non-directional price movement into the expected release of Q2 on July 15.
08:34 EDTINTCPC market stability could be short-lived, Reuters says
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07:20 EDTLGNDControlled Released Society to hold annual meeting
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06:17 EDTGSKXinhua: China indicts two GSK foreign investigators, The Guardian reports
Prosecutors in China have indicted two foreign investigators, British national Peter Humphrey and his wife, Yu Yingzeng, linked to GlaxoSmithKline, for illegally obtaining private information on Chinese citizens, reports The Guardian. Citing state media news agency Xinhua, the case is the first indictment by Chinese prosecutors against foreigners for illegal investigation. Reference Link
July 12, 2014
18:33 EDTINTCIntel looks to Chinese unbranded makers to boost tablet presence, WSJ says
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July 11, 2014
06:06 EDTINTCIntel to unveil 14nm processors, 10nm wafers at IDF in September, DigiTimes says
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July 10, 2014
16:25 EDTLOWOn The Fly: Closing Wrap
Stocks on Wall Street began the session deep in negative territory, as fears about the health of one of Portugalís largest banks, coupled with weak economic data out of Italy, prompted a sell-off in Europe, which spilled over to the U.S. The major averages moved generally higher after the open, though the early losses proved too much to overcome. The reignited fears about Europe's periphery come just as the U.S. corporate earnings season is set to pick up in earnest next week. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 11K to 304K in the week ended July 5. Wholesale inventories rose 0.5% in May, while sales edged up 0.7%, which were both a little below expectations. In Europe, concerns about the periphery rose again as the parent company of Portugal's Espirito Santo bank missed a debt payment, leading the country's interest rates higher and equities in the Eurozone lower. Also, Italy's industrial output saw its steepest monthly fall since late 2012, having dropped 1.2% in May. In China, trade performance improved in June but still missed market forecasts. Exports rose 7.2% in June from a year earlier, missing the consensus forecast for a rise of 10.6%, while imports grew 5.5% in the month, versus the 5.8% growth expectation. COMPANY NEWS: Shares of Verizon (VZ) advanced 74c, or 1.51%, to $49.64 to lead the handful of gainers on the Dow Jones Industrial Average. The rise came after Verizon CEO Lowell McAdam said in an interview on CNBC that his company added over 1.4M postpaid subscribers in Q2, with "record" tablet growth and "very strong" smartphone growth. Afterward, Wells Fargo said in a note to investors that the net adds were higher than the firm's recently increased estimate and above Street consensus... Conversely, Home Depot (HD) was the Dow's worst performer, falling $1.33, or 1.65%, to $79.40. After hardwood floors retailer Lumber Liquidators (LL) and farm products retailer Tractor Supply (TSCO) pre-announced weaker than expected Q2 results, Deutsche Bank analyst Mike Baker reduced his estimates for Home Depot and peer Lowe's (LOW), explaining that the comparative sales of those two large home improvement retailers have historically had a positive correlation with those of Tractor Supply and Lumber Liquidators. MAJOR MOVERS: Among the notable gainers was AmREIT (AMRE), which rose $3.25, or 16.93%, to $22.45 after Regency Centers (REG) offered to acquire the company for $22 per share, payable in cash and/or stock. Also higher was Cray (CRAY), which rallied $4.27, or 15.69%, to $31.49 after the company announced it has been awarded a $174M supercomputer deal from the National Nuclear Security Administration. Among the noteworthy losers was sandwich maker Potbelly (PBPB), which plunged $3.68, or 25.12%, to $10.97 after the company's second quarter and fiscal 2014 outlook fell significantly short of analysts' consensus estimates. Also lower was Sarepta Therapeutics (SRPT), which sunk $3.35, or 12.94%, to $22.54 after the company announced data through week 144 from its eteplirsen study in patients with Duchenne muscular dystrophy. INDEXES: The Dow dropped 70.54, or 0.42%, to 16,915.07, the Nasdaq fell 22.83, or 0.52%, to 4,396.20, and the S&P 500 declined 8.15, or 0.41%, to 1,964.68.
10:18 EDTLOWHome Depot, Lowe's estimates cut after warnings from floor, farm retailers
Weak results from Tractor Supply (TSCO) and Lumber Liquidators (LL) do not bode well for Home Depot (HD) and Lowe's (LOW) near-term outlook, Deutsche Bank warned in a note to investors earlier today. WHAT'S NEW: After hardwood floors retailer Lumber Liquidators and farm products retailer Tractor Supply pre-announced weaker than expected Q2 results, Deutsche Bank analyst Mike Baker reduced his estimates for Home Depot and Lowe's. The comparative sales of Home Depot and Lowe's have historically had a positive correlation with those of Tractor Supply and Lumber Liquidators, explained Baker. Lumber Liquidators, like Home Depot and Lowe's, is exposed to housing markets, the analyst stated. Meanwhile, like Tractor Supply, Home Depot and Lowe's are exposed to the outdoor/weather sensitive sector, according to Baker. However, there are differences in the companies' business models, and comparative sales at Home Depot and Lowe's are probably trending better than at Tractor Supply and Lumber Liquidators, Baker believes. He lowered his second quarter comparative sales growth forecast for Lowe's to 4% from 4.5%, and for Home Depot to 4.5% from 5%. Baker's Q2 EPS estimates for both home improvement companies are now 1c below consensus levels. He kept a Buy rating on Lowe's and Hold ratings on Home Depot and Tractor Supply. PRICE ACTION: In early trading, Home Depot fell 2% to $79.07, Lowe's declined 1.8% to $47.02, Tractor Supply tumbled 5% to $58.23, and Lumber Liquidators plunged 22% to $54.70. Shares of Tile Shop (TTS), which is also exposed to housing markets, fell 11% to $11.55 in early trading.
06:48 EDTLOWHome Depot, Lowe's estimates lowered at Deutsche Bank
Deutsche Bank lowered its estimates for both Home Depot (HD) and Lowe's (LOW) after Tractor Supply (TSCO) and Lumber Liquidators (LL) preannounced Q2 comp misses. The firm says that while the business models are different, Tractor Supply and Lumber Liquidators have historically correlated positively with Home Depot and Lowe's on comps. Deutsche calls its negative earnings revisions "relatively minor," as it thinks comps are probably holding up better at Home Depot and Lowe's. It keeps a Buy rating on Home Depot and a Hold rating on Lowe's.
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