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Stock Market & Financial Investment News

News Breaks
January 2, 2013
12:46 EDTMRK, JNJ, UNH, HPQ, CAT, ZIP, CAR, SKUL, LNKDOn The Fly: Midday Wrap
Stocks on Wall Street were significantly higher at midday after U.S. lawmakers agreed on a deal to avoid some of the tax hikes associated with the fiscal cliff, but many of the issues remaining were simply pushed off by the last-second agreement. The stop-gap measure puts off the drastic spending cuts that were due to take effect, but it did not eliminate them, and it failed to raise the debt limit, meaning another political showdown is coming. The days economic data points went largely unnoticed as most investors breathed a sigh of relief and sent the averages soaring right at the opening bell... ECONOMIC EVENTS: In the U.S., Markit's final reading for December's purchasing managers' index came in at 54.0, which was up from 52.8 a month ago and beat expectations for a downward revision to 53.6. The ISM's December manufacturing PMI had a reading of 50.7, versus the expected 50.5, while the prices paid index came in at 55.5, versus the expected 50.8. A separate report showed construction spending fell 0.3% in November, versus an expected increase of 0.6%. In Europe, Markit's zone-wide PMI edged down to 46.1 in December, compared with its 46.3 preliminary reading and down from 46.2 in November... COMPANY NEWS: Every member of the Dow Jones Industrial Average was higher at midday, with only Merck (MRK), Johnson & Johnson (JNJ) and UnitedHealth (UNH) logging gains of less than 1%. Shares of Hewlett-Packard (HPQ) and Caterpillar (CAT) paced the blue chip index, as each rose over 4%... Reflecting a trend similar to the one seen on the Dow, every S&P sector except for Healthcare was significantly higher... MAJOR MOVERS: Among the notable gainers was Zipcar (ZIP), which rose 48% following its agreement to be acquired for $12.25 per share in cash by Avis Budget (CAR), which also had its shares rise nearly 5%. Among the noteworthy losers were Skullcandy (SKUL), down 14% after Jefferies downgraded the stock to Underperform from Buy, and LinkedIn (LNKD) which fell almost 4% after being downgraded to Equal Weight at Barclays... INDICES: Near 12:30 pm ET, the Dow was up 224.78, or 1.72%, to 13,328.92; the Nasdaq was up 67.24, or 2.23%, to 3,086.75; and the S&P 500 was up 24.81, or 1.74%, to 1,451.00.
News For MRK;JNJ;UNH;HPQ;CAT;ZIP;CAR;SKUL;LNKD From The Last 14 Days
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October 6, 2014
08:14 EDTHPQHP says Q4 tracking in line with previously provided non-GAAP outlook
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07:33 EDTHPQHP to host conference call
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07:09 EDTHPQBusiness rationale for HP split not very clear, says Bernstein
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07:02 EDTHPQHP up 7.8% after announcing separation transaction
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06:58 EDTHPQHP now sees FY15 revenue growth approx. flat y/y in constant currency
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06:53 EDTHPQHP split is smart move, says Cantor
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06:47 EDTHPQHP sees FY15 free cash flow $6.5B-$7B
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06:46 EDTHPQHP reports 36K employees left as of Q3 as part of restructuring program
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06:45 EDTLNKDLinkedIn avoiding problems in China, NY Times reports
LinkedIn has avoided difficulties in China by compromising on freedom of speech issues and enabling two well-connected local venture capital firms to take a 7% stake in its Chinese business, according to The New York Times. Reference Link
06:42 EDTHPQHP's former Chairman Ralph Whitwork comments on separation
Ralph Whitworth, founder of Relational Investors and former Chairman of HPs board issued the following statement: HP's board and management have made a brilliant value-enhancing move at the perfect time in the turnaround. Today's announcement sets out bold, logical and highly compelling steps that will align the company's assets within more strategically and operationally focused corporate structures. Shareholders will now be able to invest in the respective asset groups without the fear of cross-subsidies and inefficiencies that invariably plague large business conglomerates. At the same time, management can better design strategic plans, incentives and market initiatives to suit the varying growth rates, capital intensity, and market objectives of these more focused and nimble companies. The new companies will be better positioned to address today's light-speed market dynamics and customer needs, and with distinct and compelling financial profiles and strong leadership teams, accelerate growth and shareholder value creation.
06:39 EDTHPQHP intends separation to be tax-free to holders
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06:38 EDTHPQSpun off HP companies could be takeover targets, Re/code says
After HP (HPQ) splits into two publicly traded companies, both of those companies could become takeover targets, according to Re/code. The PC and printing unit could interest Dell or Lenovo (LNVGY), while Hewlett-Packard Enterprises could merge with EMC (EMC) and/or become a target for Dell and Cisco (CSCO), the website stated. Reference Link
06:35 EDTHPQHP sees FY15 EPS $3.83-$4.03, consensus $3.95
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06:34 EDTHPQHP backs FY14 EPS view of $3.70-$3.74, consensus $3.73
06:33 EDTHPQHP confirms separation into two companies
HP announced plans to separate into two new publicly traded Fortune 50 companies: one comprising HP's market-leading enterprise technology infrastructure, software and services businesses, which will do business as Hewlett-Packard Enterprise, and one that will comprise HP's market-leading personal systems and printing businesses, which will do business as HP Inc. and retain the current logo. Immediately following the transaction, which is expected to be completed by the end of fiscal 2015, HP shareholders will own shares of both Hewlett-Packard Enterprise and HP Inc. The transaction is intended to be tax-free to HP's shareholders for federal income tax purposes. Hewlett-Packard Enterprise will build upon HP's leading position in servers, storage, networking, converged systems, services and software as well as its OpenStack Helion cloud platform. Meg Whitman to be president and CEO of Hewlett-Packard Enterprise; Pat Russo to be chairman of the Hewlett-Packard Enterprise board. Dion Weisler to be president and CEO of HP Inc.; Meg Whitman to be chairman of the HP Inc. board.
06:31 EDTHPQHP confirms separation into two companies
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06:26 EDTHPQHP October volatility elevated, plans to separate into two companies, reports
HP October option implied volatility is at 35, November is at 27, December is at 28; compared to its 26-week average of 28 according to Track Data, suggesting large near term price movement into reports of plans to separate into two companies.
06:19 EDTHPQHP facing competition from Lenovo in PCs, servers, WSJ reports
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06:12 EDTHPQHP breakup could drive 40%-90% upside, says Citigroup
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05:29 EDTHPQHP split to be viewed positively by shareholders, says Deutsche Bank
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