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Stock Market & Financial Investment News

News Breaks
April 20, 2012
Stocks on Wall Street were higher at midday, as another round of better than expected earnings reports from blue chip companies encouraged investors. Stocks opened higher on the heels of positive earnings reports from some of the country's largest corporations, positive confidence data out of Germany, and solid retail sales data from the U.K. The market tacked on gains in the opening 30 minutes and found a level where the averages sat while investors digested the corporate earnings and accompanying conference calls. In the second hour of trading the averages gained some upside momentum and added to their opening gains but they have since moved in a very narrow range. There may be little in the way of news flow for the remainder of the session as the week end approaches... ECONOMIC EVENTS: Domestically, little of note was on the economic calendar. In Europe, Spanish 10-year bond yields rose above 6% and equivalent Italian and French yields rose as well. In contrast, a measure of German business confidence climbed to 109.9, marking its sixth consecutive month of increase... COMPANY NEWS: Earnings reports from a trio of Dow components helped power that average higher, as Microsoft (MSFT) led all of the blue chips with a 5.4% gain after its earnings and revenue beat consensus. General Electric (GE) also beat on both the top and bottom line and shares moved higher by 1.9%. Results from McDonald's (MCD) were generally in line with expectations. The company said global comparable sales increased 7.3%, driven by an 8.9% increase in the U.S. and its stock rose 2% near noon... Among other companies reporting earnings, advancers included Hanesbrands (HBI), Schlumberger (SLB) and Honeywell (HON); decliners included SanDisk (SNDK) and Altera (ALTR)... MAJOR MOVERS: Among the notable gainers were Ixia (XXIA), up over 13%, following an upgrade at Wunderlich citing the company's Q1 results, and Great Wolf (WOLF), up 8%, after an affiliate of Apollo Global Management (APO) increased its offer to acquire the company to $7.85 per share from $7.00. Noteworthy losers included Riverbed (RVBD), down more than 26%, following downgrades by at least seven firms after the company's Q1 revenue missed consensus and it said it sees 15% revenue growth for FY12, and Tempur-Pedic (TPX), down over 21%, after its guidance fell short of expectations... INDICES: Near noon, the Dow was up 112.84, or 0.87%, to 13,076.94; the Nasdaq was up 20.84, or 0.69%, to 3,028.40; and the S&P 500 was up 9.60, or 0.70%, to 1,386.52.
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January 22, 2016
09:30 EDTSLBSchlumberger sees positive movement in oil prices in 2016
Says any significant recovery in near future to be seen in 2017.
09:28 EDTGEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: 8x8, Inc. (EGHT), up 12.5%... Intuitive Surgical (ISRG), up 2.2%. ALSO HIGHER: Apple (AAPL), up 1.9% after Piper Jaffray's Gene Munster says that Apple could rally over 50% by September... Chesapeake Energy (CHK), up 6.4% after announcing that it is suspending its quarterly preferred stock dividends... NephroGenex (NRX), up 27.3% after the independent Data and Safety Monitoring Board recommendation to continue the Pyridorin study... Avon Products (AVP), up 4.4% after being upgraded to Overweight from Neutral at Piper Jaffray... Freeport-McMoRan (FCX), up 6.7% after Reuters reports that Indonesia asked the company to set aside another $530M into an escrow account for the miner to extend its permit to export copper concentrate. DOWN AFTER EARNINGS: American Express (AXP), down 6.9%... Starbucks (SBUX), down 2.6%... Cardiovascular Systems (CSII), down 32.3%... GE (GE), down marginally. ALSO LOWER: Barrick Gold (ABX), down 3.4% after giving fourth quarter and fiscal 2015 production guidance and announcing potential asset impairment charges of $1B-$1.2B.
09:24 EDTSLBSchlumberger continuing to target small tech companies for M&A
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09:21 EDTSLBSchlumberger says in most severe industry downturn in 30 years
09:18 EDTGEGE CEO says no major decline seen in emerging markets pricing
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09:17 EDTSLBSchlumberger: North America land fack prices are unsustainable
Says many customers ran out of cash before mid-Q4. Says North America land frack prices are unsustainable. Says Q4 revenue was also down in the Middle East.
09:12 EDTSLBSchlumberger says one third of Q4 revenue decline attributable to pricing
Says roughly 1/3 of Q4 revenue decline is attributable to pricing. Says did not end see year-end surge in consumer-end sales that it typically sees in Q4. Sees ETR in 2016 around 20%. Says cash flow generation remains strong despite making $800M in severance payments in 2015. Says spent $627M on CapEx in Q4. Says negative market sentiments increased in Q4. Says worsening market conditions prompted operators to make further cuts to investment levels, which were already low. Says operating environment increasingly difficult to navigate as a result of low oil prices. Comments taken from Q4 earnings conference call.
08:33 EDTGEGE CEO says 'still enough business out there' to hit goals despite volatility
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08:24 EDTMSFTMicrosoft policy change could push enterprise hardware sales, says Piper Jaffray
Piper Jaffray analyst Katherine Egbert noted that Microsoft announced a new enterprise support policy last week under which Skylake-based PCs running Windows 7 and 8.1 will be fully supported only through July 2017. Egbert believes the policy change may push IT managers to decide it's easier to upgrade hardware and standardize on Windows 10, rather than run a mixed OS system, which could drive an uptick in enterprise hardware sales in the next 1-2 years. The analyst, who also thinks the policy should help the company achieve its goal of reaching 1B Windows 10 devices, keeps an Overweight rating and $64 price target on Microsoft shares.
08:08 EDTMCDMcDonald's volatility elevated into Q4 and outlook
McDonald's January weekly call option implied volatility is at 45, February is at 29; compared to its 52-week range of 15 to 31, suggesting large near term price movement into the expected release of Q4 results on January 25.
07:05 EDTGEGeneral Electric sees 2016 free cash flow + dispositions of $29B-$32B
Now sees 2016 dispositions of $3B-$4B.
06:58 EDTGEGeneral Electric reports Q4 orders up 3% to $32.5B
Reports backlog of $315B. Reports Q4 Equipment orders up 2%, down (1%) organically, with strength in Gas Power Systems and Transportation with India rail order offsetting O&G market & Aviation comps. Reports Q4 Service orders up 5%, up 3% organically.
06:40 EDTGEGE reports Q4 industrial operating + Verticals EPS 52c, consensus 49c
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06:39 EDTGEGE reaffirms goals laid out for 2016
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06:37 EDTGEGE says GE Capital on track to submit application for SIFI de-designation in Q1
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06:37 EDTGEGeneral Electric CEO: First few weeks of 2016 'especially volatile'
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06:36 EDTGEGE reaffirms FY16 industrial operating + Verticals EPS view $1.45-$1.55
Consensus is $1.51.
06:33 EDTGEGE reports Q4 industrial operating + Verticals EPS 52c, consensus 49c
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06:29 EDTGEGE rally 'a tad too energetic,' WSJ says
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05:13 EDTSNDKStocks with implied volatility movement; SNDK ETE
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