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Stock Market & Financial Investment News

News Breaks
August 4, 2014
05:46 EDTMTW, AXPStocks with implied volatility movement; MTW AXP
Stocks with implied volatility movement; Manitowoc (MTW) 37, American Express (AXP) 20 according to iVolatility.
News For MTW;AXP From The Last 14 Days
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February 17, 2015
06:34 EDTAXPAmerican Express downgraded to Neutral from Buy at Guggenheim
04:40 EDTAXPStocks with implied volatility movement; AXP GDP
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February 13, 2015
17:40 EDTMTWRelational Investors gives quarterly update on stakes
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16:35 EDTAXPS&P closes at all-time high as stocks run winning streak to second week
The major stock averages gained for the second week in a row, sending the S&P 500 to a new all-time high in the process. With the weekly advance, the major averages wiped out all their losses since the beginning of the year and moved into the green for 2015. MACRO NEWS: The U.S. economic calendar was relatively quiet during this week. Retail sales decreased 0.8% in January, versus expectations for a 0.4% decline. Initial jobless claims rose 25K to 304K in the week ended January 7. Consumer sentiment fell to 93.6 in the preliminary February release from the University of Michigan survey, versus expectations for the reading to hold at the 98.1 it achieved in January... In Europe, Russian, Ukrainian, German and French leaders came to terms on a cease-fire to begin Sunday. Eurozone GDP grew by 0.3% in the last three months of 2014, which was a bit faster than expected, largely due to strong upside in Germany. A Eurogroup meeting failed to reach a final bailout deal for Greece, but reports afterward seemed to have an optimistic tone about the continuation of talks. Sweden’s Riksbank became the latest central bank to cut interest rates and said it would undertake a program of sovereign bond buying... In China, foreign trade volume declined 10.8% year-on-year in January, with exports dropping 3.2% and imports slumping 19.7%. COMPANY NEWS: Coca-Cola (KO), PepsiCo (PEP), Zoetis (ZTS), Mondelez (MDLZ), and Groupon (GRPN) were among the companies whose stocks reacted positively to their quarterly earning reports. Conversely, the shares of Pier 1 Imports (PIR), AOL (AOL) and Zynga (ZNGA) fell after they reported their results... Dow member American Express (AXP) fell sharply after the company announced that its U.S. co-brand and merchant acceptance agreements with Costco (COST) are set to end in March of next year. Costco has been one of the few big U.S. merchants that to-date had accepted AmEx cards exclusively. Afterward, American Express said that the company now expects that overall earnings growth in 2015 will likely be "flat to down modestly" year-over-year... Another member of the blue chip index, McDonald's (MCD), dropped after reporting that its comparable sales declined 1.8% in January. As part of the overall results, U.S. same-store sales grew 0.4%, but Asia/Pacific, Middle East and Africa comparable sales dropped 12.6%... General Motors (GM) shares rose after the company confirmed that Harry Wilson intends to nominate himself as candidate for the GM board and bring before the annual meeting a proposal that the company commit to completing $8B of share repurchases... On the M&A front, Interxion (INXN) advanced after the company agreed to an all-share merger with U.K. peer TelecityGroup, after which Interxion shareholders will owning approximately 45% of the combined group. Rite Aid (RAD) rose after the pharmacy retail chain agreed to buy EnvisionRx from TPG for $2B and re-enter the pharmacy benefit management space it had previously exited. INDEXES: For the week, the Dow rose 1.09% to 18,019.35, the Nasdaq gained 3.14% to 4,893.84, and the S&P rose 2% to 2,096.99.
16:21 EDTAXPJetBlue said to drop American Express in favor of MasterCard, Bloomberg reports
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10:57 EDTAXPAmerican Express slips lower, active topping pattern
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10:00 EDTAXPOn The Fly: Analyst Downgrade Summary
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07:20 EDTAXPAmerican Express downgraded to Underperform from Buy at BofA/Merrill
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07:17 EDTAXPAmerican Express price target lowered to $85 from $90 at JPMorgan
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06:19 EDTAXPAmerican Express share weakness may persist near-term, says Citigroup
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05:06 EDTAXPStocks with implied volatility movement; AXP EXPE
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February 12, 2015
16:57 EDTAXPOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory, thanks in part to the ceasefire brokered between Russia and Ukraine as well as the ongoing debt discussions between Greece and Eurozone leaders. Another contributor may have been oil prices, which continues to rally from their low point of a couple of weeks ago. The move in stocks was broad based, though the tech-heavy Nasdaq led the way with a gain of about 1%. ECONOMIC EVENTS: In the U.S., retail sales decreased 0.8% in January, versus expectations for a 0.4% decline. When autos and gas components are removed, the core reading was up 0.2%, versus expectations for an increase of 0.4%. Initial jobless claims rose 25K to 304K in the week ended January 7, versus expectations for 287K first-time claims. Business inventories edged up 0.1% in December, versus expectations for them to grow 0.2%. In Europe, Russian, Ukrainian, German and French leaders came to terms on a cease-fire to begin Sunday. In Greece, yesterday's Eurogroup meeting failed to reach a final bailout deal, but reports afterward seemed to have an optimistic tone about the continuation of talks. Sweden’s Riksbank became the latest central bank to cut interest rates and said it would undertake a program of sovereign bond buying. COMPANY NEWS: Shares of American Express (AXP) dropped $5.53, or 6.43%, to $80.48 after the company announced that its U.S. co-brand and merchant acceptance agreements with Costco (COST) are set to end in March of next year. Costco has been one of the few big U.S. merchants that to-date had accepted AmEx cards exclusively. American Express CEO Ken Chenault said in a call about the news that the company now expects that overall earnings growth in 2015 will likely be "flat to down modestly" year-over-year... Expedia (EXPE) rose $11.35, or 14.51%, to $89.57 after it agreed to acquire rival Orbitz Worldwide (OWW) for $12 per share. Orbitz shares surged $2.10, or 21.83%, to $11.72 after the deal was announced, while Priceline (PCLN), which be the last big global online travel agency left standing next to Expedia if the deal is approved, advanced $31.89, or 3.01%, to $1,091.95. MAJOR MOVERS: Among the notable gainers was TripAdvisor (TRIP), which rose $15.13, or 22.49%, to $82.40 amid the big deal in its industry and after its own fourth quarter revenue beat analysts' expectations. Also higher after its quarterly report was networking products giant Cisco Systems (CSCO), which rallied $2.53, or 9.39%, to $29.46. Among the noteworthy losers following their earnings reports were NetApp (NTAP), which fell $2.90, or 7.28%, to $36.90, and Kellogg (K), which dropped $3.00, or 4.52%, to $63.30. Also lower were shares of Tesla Motors (TSLA), which declined $9.92, or 4.66%, to $202.88 after the electric car maker unexpectedly reported losses for its fourth quarter, delivered fewer vehicles than expected and guided toward a significant increase in spending for the coming year. INDEXES: The Dow rose 110.24, or 0.62%, to 17,972.38, the Nasdaq gained 56.43, or 1.18%, to 4,857.61, and the S&P 500 advanced 19.95, or 0.96%, to 2,088.48.
16:02 EDTAXPOptions Update; February 12, 2015
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12:43 EDTAXPOn The Fly: Midday Wrap
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11:17 EDTAXPEnd of Costco pact sinking shares of American Express
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11:02 EDTAXPAmerican Express falls after losing Costco partnership, levels to watch
The shares are down over 5.9% at time of writing to $80.91. At that price, support is at the session low at $80. Resistance is at $82.13.
10:12 EDTAXPHigh option volume stocks
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09:16 EDTAXPAmerican Express down 7.5% after saying Costco pact to end in 2016
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07:41 EDTAXPAmerican Express to hold a conference call
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07:33 EDTAXPAmerican Express says merchant agreements with Costco set to end March 31, 2016
American Express (AXP) announced that its U.S. co-brand and merchant acceptance agreements with Costco Wholesale (COST) are set to end on March 31, 2016.
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