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Stock Market & Financial Investment News

News Breaks
March 21, 2014
12:22 EDTSYMC, V, ANN, NKE, RALY, ECYTOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Dow and S&P rising to record highs and the Nasdaq a bit below its starting level. Stocks began the session in positive ground as traders rolled out positions due to “quadruple witching,” when stock index futures, stock index options, stock options, and single stock futures expire. The market soon found a level and has moved in a fairly narrow range during the morning, which is typical as quadruple expirations days tend to be more volatile at the open and the close. ECONOMIC EVENTS: In the U.S., no notable economic reports were released. COMPANY NEWS: Shares of Dow-member Nike (NKE) fell 3% despite the company reporting third quarter adjusted profits that beat analysts’ forecast. Nike said it expect its revenue to come in at the top end of its high-single digit growth target range in this fiscal year, but cautioned that the devaluation of developing market currencies will be a "significant drag" on reported revenue, gross margin and profit growth in fiscal year 2015... Visa (V) shares gained over 2.5% after Bloomberg and Reuters reported that a federal appeals court ruled the Federal Reserve was authorized to cap debit card swipe fees, reserving a prior lower court ruling in favor of retailers who oppose the cap. MAJOR MOVERS: Among the notable gainers was Endocyte (ECYT), which was up more than 90% near midday after the company announced that the Committee for Medicinal Products for Human Use of the European Medicines Agency issued "positive opinions" for conditional authorizations for its Vynfinit, Folcepri and Neocepri treatments. The company also announced a Phase 2b lung cancer trial met its primary endpoint. Following both pieces of news, no fewer than three analyst firms increased their price target on the stock. Also higher was Ann Inc. (ANN), which gained 14% after Golden Gate Capital last night disclosed a 9.5% stake in the retailer and said it plans to leverages its retail and equity experience to create value for shareholders. Among the noteworthy losers was Symantec (SYMC), which sunk 14% near noon after the company last night announced it terminated its CEO, Steve Bennett. No fewer than five analysts downgraded shares of the company following the news. Also lower was Rally Software (RALY), which fell more than 8% after the cloud software company gave a first quarter and fiscal 2015 outlook that came in below expectations. INDEXES: Near midday, the Dow was up 102.79, or 0.63%, to 16,433.84, the Nasdaq was down 0.48, or 0.01%, to 4,318.80, and the S&P 500 was up 9.26, or 0.49%, to 1,881.27.
News For NKE;V;ECYT;ANN;SYMC;RALY From The Last 14 Days
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February 24, 2015
06:39 EDTVVisa Europe announces 'tokenisation service'
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February 23, 2015
10:15 EDTSYMCCyberArk sinks after JPMorgan analyst cuts rating to sell
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05:54 EDTSYMCSymantec management to meet with JMP Securities
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February 20, 2015
12:49 EDTANNOn The Fly: Midday Wrap
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10:01 EDTANNOn The Fly: Analyst Downgrade Summary
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09:23 EDTNKEGoldman sees select Apparel and Footwear opportunities due to FX risk
Goldman said translation currency exposure in the Apparel and Footwear has created volatility and opportunity to gain exposure to this theme. Goldman's analyst sees a positive near-term set-up for Nike (NKE) and Tiffany (TIF) and a negative set-up for Crocs (CROX) and Abercrombie & Fitch (ANF) and of upcoming earnings reports.
08:13 EDTANNAnn Inc. downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded Ann Inc to Neutral based on gross margin concerns. The firm sees incremental shipping costs due to the West Coast situation and promotional activity pressuring results. Price target is $37.
06:49 EDTVVisa shifting to local payment systems in Russia, WSJ says
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06:03 EDTANNAnn Inc. working with JPMorgan on potential sale, Bloomberg reports
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05:54 EDTANNAnn Inc. volatility up into working with JPMorgan on potential sale, report
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February 19, 2015
17:58 EDTANNAnn Inc. working with JPMorgan on potential sale, Bloomberg says
12:45 EDTVOn The Fly: Midday Wrap
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12:09 EDTVAmerican Express confirms intent to appeal federal court ruling
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11:00 EDTVAmerican Express plans to appeal antitrust ruling, CNBC reports
American Express stated to CNBC that the company is "disappointed" with a court decision in an antitrust matter and plans to file an appeal. "The court's ruling will not provide any benefit to consumers and will, in fact, harm competition by further entrenching the two dominant networks. We continue to believe that the Department of Justice's arguments are flawed and believe we should prevail on appeal," American Express stated. Reference Link
08:34 EDTSYMCIntralinks expands Enterprise Fabric partner ecosystem
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08:04 EDTVVisa to extend Visa Checkout service, totaling 16 markets by late 2015
Visa announced that Visa Checkout will become available in a total of 16 markets in 2015. Currently, consumers from 10 countries can sign up for Visa Checkout. By the end of 2015 Visa Checkout will be available in the following 16 markets: U.S., Australia, and Canada, Argentina, Brazil, Chile, China, Colombia, Hong Kong, Peru, Malaysia, Mexico, New Zealand, Singapore, South Africa and United Arab Emirates. Consumers in newly-enabled markets will first be able to use Visa Checkout to buy from merchants in the U.S., Australia and Canada that accept Visa Checkout and ship internationally. As the rollout continues, select markets will begin to incorporate issuer, merchant, acquirer, and channel partnerships to support local commerce with Visa Checkout. Visa will also launch localized Visa Checkout websites for many of these markets.
February 18, 2015
10:42 EDTNKEApparel makers beyond Perry Ellis seen hurt by port slowdown
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February 17, 2015
17:29 EDTVBerkshire Hathaway gives quarterly update on stakes, exits Exxon Mobil
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08:34 EDTSYMCImprivata announces partnership with Symantec
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07:22 EDTV, SYMCMitsubishi UFJ to hold a tour
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