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Stock Market & Financial Investment News

News Breaks
January 16, 2014
11:19 EDTNAT, EGO, AMCC, LUK, INSMHigh option volume stocks: LUK AMCC INSM EGO NAT
News For LUK;AMCC;INSM;EGO;NAT From The Last 14 Days
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January 21, 2015
07:32 EDTEGOEldorado Gold downgraded to Neutral from Outperform at Credit Suisse
Credit Suisse downgraded Eldorado Gold to Neutral given recent share performance and lower NAV valuation. Price target lowered to $7 from $8.
06:30 EDTEGOEldorado Gold downgraded to Neutral from Outperform at Credit Suisse
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January 20, 2015
18:27 EDTEGOEldorado Gold reports 2014 gold production 789,224 ounces
18:26 EDTEGOEldorado Gold sees 2015 gold production 640,000-700,000 ounces
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16:23 EDTLUKOn The Fly: Closing Wrap
Stocks began the session in positive territory, but the major averages were unable to hold their early gains. Lackluster earnings reports, the falling price of oil, and lowered global growth expectations appeared to be too much to overcome after a three day holiday weekend. The Dow led the way lower and had losses of more than 100 points before reversing and slowly paring its losses. Late in the day the averages made it back to positive ground, as investors await the next round of earnings due out after the close. ECONOMIC EVENTS: In the U.S., the NAHB homebuilder sentiment index fell to 57 in January, missing expectations for it to hold steady at 58. In China, Q4 GDP growth of 7.3% came in slightly better than expected, though that puts the nation's 2014 GDP growth at 7.4%, which was the lowest reported in 24 years. Of note, the International Monetary Fund cut its forecast for global growth in 2015 to 3.5% and in 2016 to 3.7%, which were both revised down by 0.3% relative to the organization's October 2014 outlook. COMPANY NEWS: Shares of Johnson & Johnson (JNJ) led all decliners on the Dow Jones Industrial Average with a drop of $2.75, or 2.64%, to $101.29 after its Q4 earnings were nearly in-line and its FY15 outlook failed to spur buying of the stock... Morgan Stanley (MS) declined 14c, or 0.4%, to $34.75 after the firm became the latest in the financial space to report headline earnings that missed expectations. MAJOR MOVERS: Among the notable gainers was Smith & Wesson (SWHC), which rose $1.65, or 16.47%, to $11.67 after the gunmaker increased its financial guidance and said it has seen recent, positive trends in the primary indicators it uses to assess its business and the consumer firearm market. Also higher was Orbitz Worldwide (OWW), which jumped 79c, or 8.62%, to $9.95 after Bloomberg reported that the online travel agency is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and "other Internet companies." Among the noteworthy losers was FXCM (FXCM), which plunged $11.03, or 87.33%, to $1.60 after the stock reopened following the company struck a $300M rescue agreement with Leucadia (LUK) and gave further details on that deal over the weekend. Also lower were shares of Redbox owner Outerwall (OUTR), which fell $15.72, or 20.21%, to $62.05 after the company announced that its CEO had stepped down. INDEXES: The Dow rose 3.66, or 0.02%, to 17,515.23, the Nasdaq gained 20.46, or 0.44%, to 4,654.85, and the S&P 500 advanced 3.13, or 0.15%, to 2,022.55.
13:08 EDTLUKOn The Fly: Midday Wrap
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06:17 EDTLUKFXCM price target lowered to 75c from $5 at Citigroup
Citigroup lowered its price target for FXCM (FXCM) to 75c from $5 saying Leucadia's (LUK) $300M rescue package "essentially wiped out" the equity value. Citi estimates FXCM's pro forma market value around $50M-$68M and keeps a Sell rating on the name.
06:17 EDTLUKFXCM provides further details on agreement with Leucadia
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January 16, 2015
16:45 EDTLUKFXCM resumes trading, up over 150% from halted level
FXCM shares were down 88% in pre-market trading prior to being halted.
16:29 EDTLUKOn The Fly: Closing Wrap
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15:57 EDTLUKLeucadia to provide $300M financing to permit FXCM to continue operations
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15:11 EDTLUKLeucadia provides FXCM $300M in financing, CNBC reports
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12:43 EDTLUKOn The Fly: Midday Wrap
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12:26 EDTLUKLeucadia trading halted, pending news
11:17 EDTLUKJefferies working on $300M deal to rescue FXCM, CNBC reports
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10:58 EDTLUKFXCM in talks to raise $200M from Jefferies, Bloomberg reports
According to sources, FXCM (FXCM) is in discussions to raise nearly $200M from Jefferies, a unit of Leucadia (LUK), Bloomberg reports. FXCM last night that due to "unprecedented volatility" in EUR/CHF pair after the Swiss National Bank announcement, clients experienced "significant losses," generating negative equity balances owed to FXCM of approximately $225M. Reference Link
10:55 EDTLUKFXCM in talks to raise $200M from Jefferies, Bloomberg reports
Jefferies is a unit of Leucadia (LUK).
January 15, 2015
10:07 EDTEGOHigh option volume stocks
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January 14, 2015
16:04 EDTLUKLeucadia COO Justin Wheeler steps down
On January 12, COO Justin Wheeler stepped down as one of the company's executives and was appointed CEO of Berkadia Commercial Mortgage, a joint venture with Berkshire Hathaway (BRK.A).
07:37 EDTINSMJPMorgan to hold a conference
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