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Stock Market & Financial Investment News

News Breaks
February 1, 2013
16:26 EDTLTM, ADNC, F, XOM, BCOV, TM, GM, MRK, ABAX, FIATY, CVXOn 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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May 15, 2015
06:44 EDTCVX, XOMEnvironmentalists file lawsuit over oil train safety rules, NY Times says
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May 14, 2015
11:43 EDTGMU.S. appeals court dismisses UAW retiree benefit suit, Reuters reports
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10:27 EDTFDTE Energy partners with Domino's Farms and Ford to build solar arrays
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09:22 EDTMRKLeerink pharma/biotech analysts hold an analyst/industry conference call
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09:03 EDTGMGeneral Motors to invest $1B in Warren Technical Center campus
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08:54 EDTFFord says 'poised for breakthrough' year in 2015
Comment made during Ford's annual shareholder meeting.
May 13, 2015
18:33 EDTMRKMerck to present new Keytruda data on 10 types of cancer at 2015 ASCO meeting
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14:11 EDTTMToyota-Mazda partnership to focus on engineering over capital, Nikkei says
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13:12 EDTMRKSen. Sanders urges VA to break patents on Gilead hepatitis C drugs
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08:11 EDTTM, GMGeneral Motors and Toyota implement Microchip's infotainment networking devices
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07:10 EDTBCOVB. Riley to hold a conference
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06:09 EDTTMToyota and Nissan recall 6.56M vehicles over Takata air bags, WSJ reports
Toyota (TM) and Nissan (NSANY) issued recalls for 6.56M vehicles worldwide over problems with Takata air bags, reports the Wall Street Journal. The companies cited new findings about the risk of moisture seeping inside the devices. The recalls come in addition to 25M vehicles already recalled due to the Takata air bags. Reference Link
May 12, 2015
19:31 EDTGMGM recalls 522,000 Malibu, Colorado, Canyon models, Auto News says
General Motors is recalling roughly 53,000 2015 Chevrolet Colorado and GMC Canyon pickup trucks due to faulty seat frame hooks, as well as 469,000 2011-2012 Chevrolet Malibus with weak seat belt cables, reports Automotive News, citing an emailed statement from the company. GM said it is aware of 36 claims and one minor injury related to the Malibu seat belt defect, though no accidents or fatalities have been reported. Reference Link
17:10 EDTGMGeneral Motors halts Brazilian factory over shipping troubles, Reuters says
GM has halted production at a factory in southern Brazil after transportation firms Tegma and Transzero stopped shipping cars from the plant, reports Reuters, citing company statements. Reference Link
13:13 EDTMRKExpert says Norway biosimilar case an 'outlier,' CT Financial News reports
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06:09 EDTMRKThreshold announces Merck receives FDA Fast Track designation for evofosfamide
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May 11, 2015
13:28 EDTXOM, CVXOPEC sees oil at around $76 a barrel in 2025, WSJ says
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10:44 EDTGMGM ignition fund approves claims for 100 deaths, Detroit News says
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10:01 EDTXOMExxon Mobil announces Cold Lake project expansion begins production on schedule
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May 10, 2015
15:28 EDTFFord Venezuela to only sell vehicles in U.S. dollars, Reuters says
Ford's Venezuelan unit will sell vehicles exclusively in dollars beginning late June, Reuters reported Friday, citing two sources familiar with the situation. The country's currency control system has created difficulties converting vehicle sales to dollar revenue, noted Reuters. Reference Link
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