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Stock Market & Financial Investment News

News Breaks
February 1, 2013
16:26 EDTMRK, BCOV, ABAX, ADNC, TM, FIATY, F, GM, CVX, XOM, LTMOn The Fly: Closing Wrap
Stocks on Wall Street were higher on the day after the monthly jobs and manufacturing reports topped expectations, and the Dow Jones Industrial Average closed above 14,000 for the first time since October 2007... ECONOMIC EVENTS: In the U.S., the nonfarm payrolls report showed that 157K jobs were added in January and unemployment rose to 7.9%. This compared to expectations for 165K new jobs and for unemployment to hold steady at 7.8%. Notably, December payroll additions were revised up to 196K from 155K and November was raised to 247K from 161K. The University of Michigan consumer confidence reading for January came in at 73.8, versus the expected 71.5. The January ISM manufacturing index had a reading of 53.1, versus the expected reading of 50.7, while Markit's January U.S. PMI came in at 55.8, also beating expectations. Construction spending in the month of December rose 0.9%, versus the expected increase of 0.7%. In China, the government’s official PMI slid to 50.4 from 50.6 in December, while a similar PMI reading from HSBC rose to a two-year high of 52.3. In Europe, the euro zone PMI hit an 11-month high at 47.9, though that figure is still indicates contraction... COMPANY NEWS: Among Dow members reporting earnings before the bell were Merck (MRK), ExxonMobil (XOM), and Cevron (CVX). Merck, which reported in-line EPS and revenue was the average's laggard after the company announced it would delay its filing for approval of odanacatib, its investigational osteoporosis drug, and shares were down $1.42, or 3.28%, to $41.83. Shares of ExxonMobil were up slightly, adding 7c, or 0.08%, to $90.04, while shares of Chevron gained $1.35, or 1.17%, to $116.50... General Motors (GM), Ford (F), Chrysler (FIATY) and Toyota (TM) all reported double-digit sales increases in January... MAJOR MOVERS: Among those moving higher following earnings were Audience (ADNC), up $1.88, or 15.38%, to $14.10, and Abaxis (ABAX), up $5.57, or 14.39%, to $44.29 after earnings beat estimates and shares were upgraded to Strong Buy from Buy at Feltl with a $49 price target... Among noteworthy losers were shares of Brightcove (BCOV), down $2.31, or 27.43%, to $6.11 after the company cut its Q1 and FY13 guidance and shares were downgraded to Outperform from Top Pick at RBC Capital with a $16 price target. Also lower were shares of Life Time Fitness (LTM), down $11.37, or 22.41%, to $39.36 after the company's preliminary Q4 results were lower that current estimates and the company cut its FY12 and FY13 EPS view, and shares were also downgraded by at least three firms... INDICES: The Dow was up 149.21, or 1.08%, to 14,009.79; the S&P 500 15.06, or 1.01%, to 1,513.17; the Nasdaq was up 36.97, or 1.18%, to 3,179.10.
News For MRK;XOM;CVX;GM;F;FIATY;TM;ADNC;ABAX;BCOV;LTM From The Last 14 Days
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April 3, 2014
07:41 EDTGMGM CEO grilled, pushed for faster change by senators, WSJ says
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07:25 EDTADNCAudience voice processor used in FireTV, says JPMorgan
JPMorgan says its research indicates the Amazon (AMZN) voice-activated FireTV uses Audience's (ADNC) latest generation voice processor. The company adds that a teardown of the latest Samsung Galaxy S5 smartphone reveals that Audience's latest voice processor is in the device as well. The firm reiterates an Overweight rating on Audience shares with a $14.50 price target.
07:19 EDTGMGM accused of 'criminal deception' due to switch defect, Bloomberg says
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07:01 EDTGMGeneral Motors recall not likely to have a long-term impact, says UBS
UBS said automotive industry forecaster, IHS Automotive, has not seen a large change in General Motors production schedules following news of the recall. Based on prior recalls at at Toyota and Ford, the analyst does not expect GM to experience a long-term impact. Shares are Buy rated.
06:57 EDTGMDelphi's role in GM recall could be put to test, Reuters says
Delphi Automotive's (DLPH) name does not appear on the outside of the 2.6M vehicles recalled by GM (GM) since February, but the company is getting drawn into an increasing wave of litigation for its role in making the faulty ignition switch which sparked the recalls, reported Reuters. Reference Link
06:41 EDTCVXChevron initiated with a Market Perform at BMO Capital
Target $125.
06:39 EDTXOMExxon Mobil initiated with an Underperform at BMO Capital
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April 2, 2014
16:13 EDTCVXChevron initiated with an Outperform at Cowen
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16:13 EDTXOMExxon Mobil initiated with an Outperform at Cowen
Target $111.
12:10 EDTF, GMNomura starts coverage of GM with Reduce rating
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11:37 EDTGMStocks with call strike movement; HPQ GM
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10:47 EDTADNCAudience, Maxim, InvenSense chips found in Galaxy S5, Chipworks says
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10:00 EDTF, GMOn The Fly: Analyst Initiation Summary
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09:32 EDTFIATYChrysler recalls 868K SUVs to install brake booster shield
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08:44 EDTGMSenate Commerce, Science & Transportation Committee to hold a hearing
The Subcommittee on Consumer Protection, Product Safety and Insurance holds a hearing entitled, "Examining the GM Recall and NHTSA's Defect Investigation Process" with CEO of General Motors, Mary Barra is being held on April 2 at 10 am. Webcast Link
07:44 EDTGMChina mulls more electric car incentives, Bloomberg says
China may exempt electric-car buyers from paying purchase taxes as part of expanded state measures to boost sales of such cars after past incentives failed to spark demand, according to Bloomberg, citing comments from Vice Premier Ma Kai. Companies that make electric vehicles include GM (GM), Honda (HMC), Nissan (NSANY) and Tesla (TSLA). Reference Link
07:07 EDTFFord initiated with a Neutral at Nomura
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07:07 EDTGMGeneral Motors initiated with a Reduce at Nomura
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06:31 EDTGMActing NHTSA head defends decision not to open GM probe, Detroit News says
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05:53 EDTTMVolkswagen may set up first car plant in Thailand, Bloomberg reports
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