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Stock Market & Financial Investment News

News Breaks
July 22, 2014
09:08 EDTGRH, TRV, CROX, LMT, CMG, MCD, TGTX, APA, HOG, FCEL, AMZN, KOOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Chipotle (CMG), up 10.7%... Crocs (CROX), up 5%... Lockheed Martin (LMT), up 1.4%. ALSO HIGHER: GreenHunter Resources (GRH), up 10.3% after announcing intent to form MLP... TG Therapeutics (TGTX), up 9.5% after reporting Q2 results, preclinical study results, price target on shares raised to $19 from $13 at Brean Capital... FuelCell (FCEL), up 5.4% after announcing German government support, EUR 4.9M in research awards... Apache (APA), up 5.2% after Bloomberg says activist investor JANA Partners disclosed $1B position in the stock. DOWN AFTER EARNINGS: Harley-Davidson (HOG), down 4.1%... Travelers (TRV), down 3.4%... McDonald's (MCD), down 2.3%... Coca-Cola (KO), down 2.5%. ALSO LOWER: Amazon.com (AMZN), down 1% following downgrade to Neutral rating at Citigroup.
News For MCD;KO;HOG;CMG;AMZN;APA;LMT;FCEL;TGTX;CROX;TRV;GRH From The Last 14 Days
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July 20, 2015
11:49 EDTLMTLockheed Martin says expects to be same size following strategic actions
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11:33 EDTLMTLockheed Martin says reviewed options for info tech units 'for some time'
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11:25 EDTLMTLockheed Martin says will finance Sikorsky purchase with $1B cash, $8B debt
Says expects to pay 3.75% coupon on Sikorsky-related debt. Expects to close the purchase "as soon as possible" and sees integration costs centered in 2016. Sees deal providing $450M/year tax deduction. Expects transaction to be marginally accretive to EPS starting in 2017. Comments from company's Q2 earnings conference call.
11:19 EDTLMTLockheed Martin says 'well positioned' for 2H15
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11:13 EDTLMTLockheed Martin says FY15 tracking as planned
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10:50 EDTHOGHarley-Davidson August volatility increases into Q2 and outlook
Harley-Davidson August call option implied volatility is at 40, November is at 30; compared to its 52-week range of 17 to 39, suggesting large near term price movement into the expected release of Q2 results on July 21.
10:00 EDTAMZNOn The Fly: Analyst Upgrade Summary
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08:53 EDTTRVTravelers August volatility increases into Q2 and outlook
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08:24 EDTMCDMcDonald's U.S. outlook improving, says RBC Capital
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07:48 EDTAMZNAmazon.com Q2 results poised to beat expectations, says Bernstein
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07:46 EDTLMTLockheed Martin reports Q2 Aeronautics revenue $4.13B
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07:43 EDTLMTLockheed Martin raises FY15 EPS to $11.00-$11.30 from $10.85-$11.15
FY15 EPS consensus $11.23. Backs FY15 revenue $43.5B-$45B, consensus $44.55B. Backs FY15 orders $43.5B-$45B. Raises FY15 consolidated operating profit $5.43B-$5.58B from $5.35B-$5.5B. Backs FY15 cash from operations of at least $5B.
07:43 EDTLMTLockheed Martin to acquire Sikorsky Aircraft business for $9B
United Technologies (UTX) announced that it has reached an agreement to sell its Sikorsky Aircraft business to Lockheed Martin (LMT) for $9B in cash. The transaction, which is subject to regulatory approvals and customary closing conditions and adjustments, is projected to close by year-end or in the Q1 of FY16. Proceeds from the sale are expected to be used to fund additional share repurchase to offset the earnings impact related to the sale. The company will discuss this transaction at its previously scheduled conference call with investors. In addition, UTC's Board of Directors has authorized a share repurchase program for up to 75M shares of the company's common stock, which would be worth approximately $8.3B based on the NYSE closing price of UTC shares on July 17. The new authorization replaces a previous program, approved in February 2013, which was nearing completion. The precise timing and amount of repurchases will be determined based on the company's evaluation of market conditions and other factors, and the program may be suspended or discontinued at any time.
07:40 EDTLMTLockheed Martin to conduct strategic review of govt IT infrastructure business
On July 20, 2015, Lockheed Martin also announced that it will conduct a strategic review of the government IT infrastructure services business within its IS&GS business segment and the technical services business within its MFC business segment. The programs to be reviewed represent approximately $6B in estimated 2015 annual sales and approximately 17,000 employees. The Lockheed Martin expects the strategic review will result in a spin-off to its shareholders or sale of these businesses. The IS&GS programs that are not included in the strategic review are mostly focused on defense and intelligence customers and will be realigned into the Lockheed Martin's other business segments following completion of the review. The Corporation expects to complete the strategic review in 2015. While the Lockheed Martin performs its strategic review, it will maintain the current operating and reporting structure and will continue to report the financial results of the government IT infrastructure services and technical services businesses in its continuing operations.
07:39 EDTLMTLockheed Martin reports Q2 cash from operations was $1.3B
07:36 EDTLMTLockheed Martin reports Q2 EPS $2.94, consensus $2.67
Reports Q2 revenue $11.64B, consensus $10.99B.
06:57 EDTAMZNAmazon.com upgraded to Outperform from Market Perform at Cowen
Cowen analyst John Blackledge upgraded Amazon.com to Outperform based on expectations the company will be number 1 U.S. apparel retailer by 2017, driven by accelerating purchasing growth. Growth is being driven by a much larger selection, ramping 1P brand relationships and superior fulfillment and technology. BlackLedge said Amazon's long-term investment philosophy in massive retail and technology markets is increasingly paying off and should continue to win as it attracts U.S. retail TAM as wall as International e-commerce leadership. Further, he expects Amazon.com's leadership to continue in the fast-growing public cloud market. BlackLedge raised his price target on Amazon shares to $565 from $435.
06:47 EDTAMZNAmazon.com upgraded to Outperform from Neutral at Wedbush
Wedbush analyst Michael Pachter upgraded Amazon.com to Outperform and increased its price target to $575 from $435 on strong fundamentals and significant growth opportunities. Pachter sees faster AWS growth, momentum in the AWS Marketplace, better than expected Prime growth, greater sales traction from Prime Day, and increased likelihood it can add at least $2B in revenue from capturing PayPal payments. The firm's analyst expects solid Q2 revenue on Thursday of $22.4B versus guidance of $20.6B-$22.8B from new Prime members and from incremental AWS accounts.
July 19, 2015
20:33 EDTLMTMedia reports say Lockheed to buy UTX's Sikorsky
According to media reports, Lockheed Martin (LMT) has agreed to purchase United Technologies' (UTX) Sikorsky unit. The news comes after several months of speculation surrounding Sikorsky, and an announcement could be made just a day prior to second quarter earnings for both United and Lockheed. WHAT'S NEW: Reuters reported on Sunday that Lockheed Martin has agreed to buy Sikorsky Aircraft from United Technologies for over $8B, according to two sources, adding that the deal is set to be formally announced on Monday. The news was later echoed by Bloomberg, citing a person familiar with the talks. WHAT'S NOTABLE: United Technologies first reported that it was exploring strategic options for its Sikorsky unit on March 11. At the time, the company noted that options included a spinoff or a stand-alone public company, saying that the split could allow United "to better focus on providing high-technology systems and services to the aerospace and building industries." Following the announcement, UBS remarked that it was "not surprised" and reiterated a $136 price target on United shares. On May 20, the Wall Street Journal quoted sources as saying Boeing (BA), Airbus (EADSY) and Lockheed submitted bids for the helicopter maker, with a speculated deal thought to reach the $10B area. A June 9 report from Reuters added Textron (TXT) to the list of bidders. Today's news -- though unconfirmed by either United or Lockheed -- comes ahead of second quarter earnings reports for both companies scheduled for Tuesday, July 21. PRICE ACTION: Shares of Lockheed Martin declined 0.22% to $201.18 at the close of trading on July 17, while those of United Technologies fell 0.45% to $110.76.
15:31 EDTLMTLockheed Martin to buy Sikorsky for over $8B, Reuters says
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