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Stock Market & Financial Investment News

News Breaks
October 22, 2013
12:22 EDTRSH, WHR, TRV, LXK, UTX, NFLX, COH, DAL, DDOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after the delayed jobs report for September showed employers added a disappointing 148,000 jobs in the month, though the unemployment rate edged further down toward 7%. Though the jobs data missed the mark it is already dated and did represent the 43rd consecutive month of employment growth, which was enough to push the S&P to its fourth consecutive day hitting an all-time high. ECONOMIC EVENTS: The Labor Department's previously delayed employment report for September showed the economy added 148,000 jobs in September, well below analystsí expectations for 185,000 and down from the nearly 200,000 jobs added in the prior month. The unemployment rate, however, dipped to 7.2% from 7.3%. The Richmond Fed's manufacturing index inched up to 1 in October from a 0 reading in the prior month. Construction spending rose 0.6% in August, beating expectations for it to have grown 0.4% during the month. COMPANY NEWS: Netflix (NFLX) last night reported stronger than expected quarterly results and the stock opened nearly 10% higher this morning. But the shares were down about 4% near noon, after several analysts warned that the stock may not be attractive following its rapid and steep rally... Among the many companies reporting earnings last night and this morning were three members of the Dow Jones Industrial Index: DuPont (DD), Travelers (TRV), and United Technologies (UTX). All three reported headline earnings that beat consensus, though UTX also narrowed its full-year profit forecast and saw its shares slide nearly 1% near noon. MAJOR MOVERS: Among the notable gainers was appliance maker Whirlpool (WHR), which rallied over 11% after the company's adjusted earnings beat forecasts and it raised its full year profit outlook. Also higher following their earnings reports were printer maker and business service provider Lexmark (LXK), which rose 7%, and Delta Air Lines (DAL), which advanced 4%. Among the noteworthy losers following their earnings reports were electronics retailer RadioShack (RSH), which dropped over 23%, and handbag maker Coach (COH), which fell almost 8%. INDEXES: Near noon, the Dow was up 60.75, or 0.39%, to 15,452.95; the Nasdaq was up 6.63, or 0.17%, to 3,926.68; and the S&P 500 was up 8.29, or 0.48%, to 1,752.95.
News For NFLX;TRV;DD;UTX;WHR;DAL;LXK;RSH;COH From The Last 14 Days
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March 16, 2015
16:28 EDTNFLXOn The Fly: Closing Wrap
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14:24 EDTDDDuPont near session low, levels to watch
The shares were downgraded earlier at BofA/Merrill to Underperform, but the firm maintained its $76 price target. At the current price of $77.35 the stock is at the low of its price channel, but has not breached. Support below current price is at $75.52, the 50-day moving average. Resistance is at $78.08.
11:58 EDTDDDuPont retreats after Bank of America two notch downgrade to sell
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10:44 EDTNFLXNetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
10:28 EDTNFLXOptions with increasing implied volatility
Options with increasing implied volatility: PVA NFLX BMRN DNOW MYL TEVA PEP GE
10:02 EDTDD, NFLXOn The Fly: Analyst Downgrade Summary
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09:37 EDTNFLXActive equity options trading on open
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09:31 EDTDDPeltz says open to discussing 'realistic settlement' with DuPont
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09:22 EDTDDOn The Fly: Pre-market Movers
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07:52 EDTNFLXNetflix downgraded at Evercore ISI
As previously reported, Evercore ISI downgraded Netflix to Sell from Hold. The firm downgraded shares and reduced its price target to $380 from $450 due to increasing competition among existing and emerging distributors combined with content providers who are becoming increasingly leveraged to new channels through OTT offerings of their own. Evercore ISI believes intensifying competition will necessitate increased investment with uncertain returns and lowered estimates.
07:38 EDTDDDuPont downgraded at BofA/Merrill
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06:44 EDTDDDuPont downgraded to Underperform from Buy at BofA/Merrill
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06:16 EDTNFLXNetflix downgraded to Sell from Hold at Evercore ISI
March 13, 2015
17:11 EDTNFLXSony Pictures TV nears streaming video deal for Seinfeld, WSJ reports
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16:01 EDTNFLXOptions Update; March 13, 2015
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15:47 EDTDDDuPont says Trian proposal not 'meaningful step' toward resolution
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07:05 EDTUTXUnited Technologies to buyback $2.65B under accelerated share repurchase plans
United Technologies (UTX) disclosed in a regulatory filing that it entered into accelerated share repurchase, or ASR, agreements with each of Goldman Sachs (GS) and Morgan Stanley (MS) to repurchase an aggregate of $2.65B of the company's common stock. Under the terms of the ASR agreements, the company will make a $1.325B payment to each of Goldman Sachs and Morgan Stanley on March 13 and will receive from each of them on the same day an initial delivery of 9,289,426 shares of the company's common stock. The final number of shares to be repurchased will be based on the average of the daily volume-weighted average prices of the company's common stock during the term of the ASR transaction, less a discount and subject to adjustments pursuant to the terms and conditions of the ASR agreements. The final settlement of the transactions under the ASR agreements is expected to occur no later than the fourth quarter of 2015 and may be accelerated at the option of Goldman Sachs or Morgan Stanley, as the case may be.
07:03 EDTUTXUnited Technologies to buyback $2.65B under accelerated share repurchase plans
06:21 EDTUTXUnited Technologies considered selling Sikorsky several times, WSJ says
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05:54 EDTUTXUnited Technologies CEO says Pratt CapEx needs to go down, Financial Times says
United Technologies CEO Greg Hayes said Pratt & Whitney CapEx will "have to come down" to a more sustainable level so that the company can afford the next "innovative investment" when it sees the opportunity, reports the Financial Times. Pratt is in the middle of investing $10B to introduce the new Geared Turbofan engine for narrow-body jets and wil lmake $2.6B capital investments this year. Reference Link
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