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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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September 24, 2014
09:17 EDTINTCIntel rumored to take 20% stake in Spreadtrum, Marbridge Daily says
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08:29 EDTLOWLowe's management to meet with Deutsche Bank
Meeting to be held in Los Angeles on September 24 hosted by Deutsche Bank.
07:19 EDTDMNDDiamond Foods October volatility elevated into Q4 and outlook
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September 23, 2014
08:56 EDTLOWLowe's management to meet with Deutsche Bank
Meetings to be held in San Mateo/San Francisco/Los Angeles on September 23 hosted by Deutsche Bank.
08:29 EDTGSKGlaxoSmithKline weakness creates buying opportunity, says Argus
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08:07 EDTGSKFDA Pediatric Advisory Committee to hold a meeting
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September 22, 2014
12:52 EDTINTCIntel receives approval from Israel to invest $6B in chip plant, Reuters says
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10:15 EDTGSKOn The Fly: Analyst Upgrade Summary
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09:54 EDTLOWLowe's management to meet with Deutsche Bank
Meeting to be held in San Francisco on September 22 hosted by Deutsche Bank.
07:21 EDTGSKEBD Group to hold a conference
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06:27 EDTINTCIntel, Rockhip partner to expand x86 presence in tablet market, DigiTimes says
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05:27 EDTGSKGlaxoSmithKline upgraded to Buy from Neutral at Goldman
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September 19, 2014
18:20 EDTLOWLowe's CEO Niblock sells nearly $28M of company stock near record high
In regulatory filings, it was disclosed that Lowe's CEO Robert A. Niblock sold nearly $28M worth of company stock from September 9-11. Lowe's stock has been climbing steadily over the past three months, and it made both a 52-week and record high of $54.81 on Friday, September 19.
16:24 EDTINTCStocks rise after Fed keeps pledge for 'considerable time' before rate hike
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16:17 EDTINTCOn The Fly: Closing Wrap
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11:51 EDTINTCMicrosoft, Intel look to partner with Chinese mobile device makers, Nikkei says
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07:42 EDTINTCIntel dividend can rise up to 45% over next two years, says Jefferies
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05:58 EDTGSKGlaxoSmithKline to pay GBP 297M fine to Chinese government
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September 18, 2014
10:40 EDTLOWPier 1 Imports falls to 12-month low after weak Q2, lowered outlook
Shares of home furnishings retailer Pier 1 Imports (PIR) hit a 12-month low after the company's second quarter results fell below analysts' consensus estimates and it reduced its fiscal 2015 earnings per share outlook. WHAT'S NEW: Pier 1 Imports reported Q2 EPS of 10c on revenue of $418.6M, missing analysts' consensus estimates of 14c and $426.02M, respectively. Same-store-sales for the quarter were up 4.5%. The retailer lowered its FY15 EPS outlook to 95c-$1.05 from $1.14-$1.22. Analysts' consensus estimates for FY15 EPS prior to the earnings report was $1.13. The company sees FY15 SSS in the mid-to-high single digits and gross profit, as a percentage of sales, are expected to be 40.5%-41.5%. Pier 1 Imports CEO Alex Smith said that he foresees online sales to surpass $400M in 2016. WHAT'S NOTABLE: During the company's conference call, Pier 1 Imports said that it expects to see improving merchandise margins in coming quarters with fewer coupons. The company noted plans to continue returning cash to shareholders in the form of dividends and share buybacks. ANALYST REACTION: This morning, Wells Fargo analyst Matt Neemer downgraded Pier 1 Imports to Market Perform from Outperform. He feels that the stock will be a difficult one to own in the medium term as the retailer moves towards a multi-channel approach. Neemer believes that the company has a difficult journey ahead as it cuts broad-based discounters, and he feels that consumers will take time to get accustomed to the new messaging. He cut his price target range to $15-$16 from $19-$20 for the company. Barclays analyst Alan Rifkin downgraded Pier 1 Imports to Equal Weight from Overweight due to slow revenue growth and heightened promotions. He feels that that the "soft" revenues could continue. He believes that the company's elongated online profitability pipeline and increased promotions are certain to be a burden on the business in ways that the company had not initially thought. Rifkin said that growing the top line will be even harder in the absence of promotions. He reduced his price target for shares to $14 from $18. Argus analyst Christopher Graja downgraded Pier 1 Imports to Hold from Buy due to the company's lower than anticipated Q2 earnings. He feels that in terms of the home furnishings market, companies such as Williams-Sonoma (WSM), Home Depot (HD) and Lowe's (LOW) are more "resilient" for shareholders. Pier 1 Imports was also downgraded to Hold from Buy at BB&T. PRICE ACTION: In morning trading, Pier 1 Imports fell $2.63, or 16.99%, to $12.90. Including today's pull back, the stock is down approximately 45.2% over the past 12 months. OTHERS TO WATCH: Other companies in the home furnishings space include Restoration Hardware (RH), and Bed Bath & Beyond (BBBY).
06:50 EDTINTCIntel, Spreadtrum may enter partnership to develop x86 products, DigiTimes says
Intel is looking to promote x86 architecture to China chip designers and may enter a partnership with Spreadtrum, reports DigiTimes Research. The cooperation would allow Intel to fill some of its empty capacity while Spreadtrum would gain advantages from Intel's advanced manufacturing processes to reduce costs. Reference Link
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