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Stock Market & Financial Investment News

News Breaks
January 24, 2014
13:28 EDTKSU, MSFT, IGT, JNPR, BDSI, PGOn The Fly: Midday Wrap
The Wall Street averages were all lower at midday for a third straight session, with the Dow again registering a triple-digit loss despite post-earnings advances from Microsoft (MSFT) and Procter & Gamble (PG). The U.S. market began the session deeply in negative territory, taking its lead from emerging markets, which took a beating overnight. The market seemed to have found a level early on, but the selling momentum eventually increased, pushing the Dow down about 200 points near noon. The long awaited correction appears to be occurring after the market put in one of its best yearly performances ever in 2013. ECONOMIC EVENTS: In the U.S., little economic data of note was reported. In Europe, Fitch affirmed Germany's AAA sovereign credit rating with a stable outlook. In Argentina, the government said it would loosen its strict foreign exchange controls a day after it abandoned a long-standing policy of supporting the peso. The change in policy announced yesterday had resulted in an 11% drop in the Argentinian peso against the dollar, marking the currency's steepest plunge since 2002. In addition to Argentina's currency issues, the Turkish lira, the South African rand and the Russian ruble all hit new, multi-year lows. COMPANY NEWS: After last night's close, Microsoft reported earnings and revenue that surpassed the consensus forecast of analysts. Helping to power its performance were increased sales of its Surface tablet, strong holiday season sales of its Xbox game systems and the company "[continuing] to take share" from competitors as customers transition to the cloud. Shares of the tech giant gained about 3%... Fellow Dow component Procter & Gamble was vying with Microsoft to be the top gainer on the blue-chip index with its own post-earnings advance of nearly 3%. The consumer goods maker reported sales that were just a hair below expectations and profits that narrowly exceeded the consensus forecast. MAJOR MOVERS: Among the notable gainers was Juniper Networks (JNPR), which rallied 7% after the company reported better than expected results, announced the pending release of a new operational plan and activist investor Jana Partners backed Elliot Management’s recent plan to unlock shareholder value at the company. Also higher was BioDelivery Sciences (BDSI), which surged 33% after announcing top-line results from of a study of a drug it is developing for the treatment of moderate to severe chronic pain in certain patients. Among the noteworthy losers was Kansas City Southern (KSU), which fell over 13% after the railroad operator reported weaker than expected results. Also lower were shares of International Game Technology (IGT), which fell nearly 13% after its results disappointed and the company said that the lower end of its previously announced guidance range is more likely, with potential further downside risk. INDEXES: Near midday, the Dow was down 200.08, or 1.24%, to 15,997.27, the Nasdaq was down 66.08, or 1.57%, to 4,152.80, and the S&P 500 was down 24.30, or 1.33%, to 1,804.16.
News For MSFT;PG;JNPR;KSU;BDSI;IGT From The Last 14 Days
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May 15, 2015
07:38 EDTPGP&G fighting lawsuits over laundry-pod poisonings, WSJ reports
Procter & Gamble (PG), which has a commanding spot in the laundry-pod market and has put the products at the center of its laundry strategy, is defending itself against several lawsuits alleging injuries from the products, reported The Wall Street Journal. The Journal noted it reviewed data showing that at least seven people, including four last year and one earlier this year, have died after biting into laundry-pods. A P&G spokesman said there are indications that the rate of accidents relative to the number of pods sold is declining since 2012, when the products were first introduced in the U.S. Reference Link
07:31 EDTKSUKansas City Southern downgraded at Credit Suisse
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06:09 EDTKSUKansas City Southern downgraded to Neutral from Outperform at Credit Suisse
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06:03 EDTMSFTStocks with implied volatility below IV index mean; MSFT GE
Stocks with implied volatility below IV index mean; Microsoft (MSFT) 17, General Electric (GE) 15 according to iVolatility.
May 14, 2015
19:04 EDTMSFTMicrosoft announces mobile-friendly search result changes
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19:02 EDTBDSIOn The Fly: After Hours Movers
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16:11 EDTBDSIEndo, BioDelivery announces Phase 3 data for buprenorphine
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16:00 EDTMSFTOptions Update; May 14, 2015
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11:19 EDTMSFTMicrosoft set to test 52-week high, levels to watch
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09:34 EDTMSFTActive equity options trading on open
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09:19 EDTKSUKansas City Southern drops after withdrawing 2015 revenue, volume guidance
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09:10 EDTKSUKansas City Southern to reevaluate providing revenue, volume guidance in 2016
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09:05 EDTKSUKansas City Southern board authorizes $500M share repurchase program
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09:05 EDTKSUKansas City Southern withdrawing 2015 revenue, volume guidance
On May 14, at the Bank of America Merrill Lynch Transportation Conference, Kansas City Southern EVP and CFO, Michael W. Upchurch, will provide a business update. As noted in Upchurch’s presentation, the company is withdrawing its 2015 revenue and volume guidance primarily due to the uncertainty around energy-related markets, foreign exchange impacts, and U.S. fuel prices. The company is reiterating its operating ratio target of low-60s by 2017.
May 13, 2015
16:01 EDTMSFTMicrosoft blog post refrains from using 'Windows Phone' branding
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15:04 EDTMSFTEarnings Watch: Cowen says Cisco better positioned than most believe
Cisco Systems (CSCO) is scheduled to report results of its third fiscal quarter after the market close on Wednesday, May 13, with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 53c on revenue of $12.07B, according to First Call. The consensus range for EPS is 52c-54c on revenue of $11.99B-$12.46B. Along with its last quarterly report, Cisco guided for Q3 EPS of 51c-53c and said it expects its revenue to be up 3%-5% in the quarter compared to the prior year. LAST QUARTER: On February 1, Cisco reported second quarter EPS of 53c, beating the consensus analyst forecast of 51c. Revenue came in at $11.94B, topping the $11.8B consensus forecast. At that time Cisco also raised its quarterly dividend to 21c from 19c. NEWS: On March 11, Cisco announced an extension of its cloud and data center relationship with Microsoft (MSFT) to include a new technology platform designed to accelerate service delivery and streamline the journey to the Intercloud for cloud providers. The new integrated solution combines Windows Azure Pack and Cisco Application Centric Infrastructure to help cloud providers "rapidly deliver hybrid cloud services while drastically simplifying operations and reducing costs," the company said. On May 4, Cisco announced that its board has appointed Chuck Robbins, who most recently served as Cisco's senior vice president of worldwide operations, as CEO, effective July 26. Current CEO John Chambers will assume the role of executive chairman and will continue to serve as the chairman of Cisco's board. STREET RESEARCH: On the day after the company's last report, research firm Piper Jaffray said it saw little downside risk in Cisco shares and believes Cisco is benefiting from a switching upgrade cycle that should sustain throughout 2015. The firm kept an Overweight rating on the stock with a $33 price target. Conversely, Citigroup said that despite the improving demand seen in Q2, Cisco shares remained fully priced at its levels at that time. Citi raised its price target for shares to $25 from $22, but kept a Sell rating on the name. The day after Cisco announced its CEO transition plan, Cowen said it thinks the company is better positioned and business is trending better than most investors believe, as evidenced by the timing of its CEO change. The firm, which believes Robbins is an excellent choice to replace Chambers, reiterated its Outperform rating and $35 price target on Cisco shares. Earlier this week, Pacific Crest upgraded Cisco to Outperform from Sector Perform, as the firm believes the April quarter results could signify the start of a multi-quarter recovery driven by new product cycles across switching, routing, wireless and servers. Pacific Crest, which thinks improving fundamentals and cloud momentum can drive multiple expansion in the second half of 2015 and into 2016, set a $36 price target for Cisco shares. PRICE ACTION: In afternoon trading ahead of Wednesday's report, Cisco shares are up fractionally to $29.30. In the last three months, Cisco shares have declined about 0.5%.
10:46 EDTKSURail estimates lowered at Wolfe Research
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10:01 EDTMSFTOn The Fly: Analyst Upgrade Summary
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07:10 EDTIGTInternational Game reports GTECH S.p.A. Q1 EPS (16c), revenue $807.69M
06:07 EDTMSFTMicrosoft upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank analyst Karl Keirstead upgraded Microsoft to Buy saying weak PC market sentiment is priced into the stock at current levels while Azure and Office 365 optimism is "just starting" to take hold. The analyst sees more positive than negative catalysts and raised his price target for Microsoft shares to $55 from $44. Shares of the computing giant closed yesterday down 2c to $47.35.
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