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Stock Market & Financial Investment News

News Breaks
January 24, 2014
13:28 EDTMSFT, PG, JNPR, KSU, BDSI, IGTOn 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 Managementís 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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July 11, 2014
11:19 EDTBDSIOptions with decreasing implied volatility: BDSI CWH INFY MONT
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10:00 EDTPGOn The Fly: Analyst Downgrade Summary
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05:44 EDTPGProcter & Gamble downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded its rating on Procter & Gamble (PG) shares to Market Perform citing a lack of lack of fundamental progress despite the company's increased innovation. Wells says P&G's U.S. share trends have weakened amid competition. The firm cut its price target range for shares to $85-$87 from $88-$90.
July 10, 2014
11:21 EDTIGTInternational Game Technology rises as GTECH reportedly prepares bid
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11:01 EDTBDSIOptions with decreasing implied volatility: BDSI
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10:22 EDTMSFTMicrosoft CEO prepares reshaping plans
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09:15 EDTIGTOn The Fly: Pre-market Movers
HIGHER: Zumiez (ZUMZ), up 5.7% after raising Q2 outlook... DragonWave (DRWI), up 5% after reporting better than expected Q1 results... International Game (IGT), up 3.6% after Italian press report says the company will soon get a $4B offer from GTECH... United Continental (UAL), up 2.9% after reporting June traffic. LOWER: Lumber Liquidators (LL), down 23% after downgraded at Jefferies and Credit Suisse following the company's reduced full-year outlook. Tile Shop (TTS), which also serves flooring customers, down 5.5% following Lumber Liqudators' profit warning... Family Dollar (FDO), down 1.9% after reporting Q3 earnings that missed expectations... Tractor Supply (TSCO), down 5.9% after reporting Q2 preliminary results, saying it now sees FY14 results at low end of guidance range... Liquidity Services (LQDT), down 8% after revising Q3 guidance after its sales of selected rolling stock and other assets under its Surplus Contract with the U.S. Defense Logistics Agency have ceased at the request of DLA... Potbelly (PBPB), down 18% after lowering its Q2 and FY14 outlook... Memorial Production Partners (MEMP), down 7.4% after filing to sell 8.6M shares of common units for partners... Kosmos (KOS), down 3.3% after filing to sell 17M shares of common stock.
08:44 EDTIGTInternational Game reported to soon get $4B offer from GTECH, Bloomberg says
International Game Technology (IGT), which has put itself up for sale, will "soon" get an offer worth about $4B in cash and shares from lottery operator GTECH, according to Italy's La Repubblica, reported Bloomberg. International Game shares in New York are up nearly 6% in pre-market trading.
06:29 EDTMSFTMicrosoft, Vitalwerks settle lawsuit, WSJ reports
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06:26 EDTMSFTTablet quarterly shipments fall for first time to 56M on year, DigiTimes says
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06:18 EDTMSFTIDC: PC shipments in mature regions stabilizes market in Q2, DigiTimes
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July 9, 2014
12:00 EDTIGTStocks with call strike movement; BBRY IGT
BlackBerry (BBRY) December 14 call option implied volatility decreased 5% to 54, International Game (IGT) October 19 call option implied volatility increased 3% to 51 according to IVolatility.
11:00 EDTMSFTWells says VMware growth could slow, downgrades shares
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08:31 EDTMSFTVMware CEO sees EMC helping it remain independent, WSJ reports
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06:36 EDTMSFTMicrosoft warns of support deadlines for Windows 7
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06:24 EDTMSFTGoogle Cloud Storage offering 2 TB of free storage through partner, WSJ reports
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July 8, 2014
11:25 EDTBDSIOptions with decreasing implied volatility
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08:32 EDTKSUGlobal Partners, Kansas City Southern to develop unit train terminal in Texas
Global Partners LP (GLP) and Kansas City Southern (KSU) announced plans to develop a unit train terminal in Port Arthur, Texas. The waterborne terminal, which will be constructed on a 200-acre parcel leased by Global from KCS, will serve initially as a destination for heavy crude from Western Canada utilizing 340,000 barrels of initial storage capacity. Upon commencement of unit train service, the terminal is expected to have an initial capacity of up to 2 unit trains per day. Construction of the terminal is contingent upon Globalís receipt of all necessary permits.
07:47 EDTMSFTThe Cato Institute holds a discussion
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07:32 EDTMSFTSemiconductor Equipment & Materials International to hold a conference
SEMICON West to be held in San Francisco on July 8-10.
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