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Stock Market & Financial Investment News

News Breaks
June 15, 2012
12:21 EDTIIVI, YPF, TTWO, NOK, NAVOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday in spite of some disappointing domestic economic data, with the market's expectations for more quantitative easing possibly making bad news seem like good news. The averages opened quietly but almost immediately began to move higher. Whenever options are set to expire it can lead to higher volatility and heavier volume. With today being “quadruple witching,” when options, stock index options, single stock futures and stock index futures are all due to expire, the moves can be more extreme. Although the move today was orderly it came on heavier than normal volume, which is a sure sign that options were involved. The market has ignored the poor economic data points, including the industrial production and Empire manufacturing reports, and has added to its gains from earlier in the week... ECONOMIC EVENTS: In the U.S., the Empire state manufacturing report for June reported a drop in the general business conditions index to 2.29, versus expectations of a reading of 13.0. Industrial production fell 0.1% in May, versus expectations that it would remain flat, while manufacturing production declined 0.4%, versus forecasts it would fall 0.3% month-over-month. The University of Michigan consumer confidence reading was 74.1, versus expectations of 77.5. Internationally, this weekend will see the highly anticipated elections in Greece, as well as the second round of France's legislature elections and voting in Egypt that will influence U.S. policy in the Middle East... COMPANY NEWS: Shares of Nokia (NOK) rebounded a bit from yesterday's steep sell-off, gaining back about 6%. The troubled phone maker's shares were upgraded at both Citigroup and Oppenheimer, though the stock was also downgraded at Credit Suisse... MAJOR MOVERS: Among the notable gainers were YPF SA (YPF), up 20%, after Carlos Slim reported an 8.4% stake in the company, and Navistar (NAV), up almost 8%, after hedge fund MHR Fund Management disclosed a 13.6% stake. Noteworthy losers included II-VI (IIVI), down 11%, after giving a near-term and longer-term earnings view below consensus estimates, and Take-Two (TTWO), down more than 3%, as one of a number of video game makers falling after research firm NPD reported that U.S. video game sales plunged a greater than expected 28% in May... INDICES: Near noon, the Dow was up 62.32, or 0.49%, to 12,714.23; the Nasdaq was up 18.71, or 0.66%, to 2,855.04; and the S&P 500 was up 7.37, or 0.55%, to 1,336.47.
News For NOK;YPF;NAV;TTWO;IIVI From The Last 14 Days
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November 27, 2015
13:50 EDTNOKNokia to host special shareholder meeting
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November 25, 2015
11:26 EDTYPFYPF added to short term sell list at Deutsche Bank
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November 23, 2015
10:18 EDTTTWOGameStop plunges on weaker than expected Q3 earnings
Shares of GameStop (GME) are plunging in morning trading after the company reported downbeat third quarter earnings on lower new software and hardware sales and delays in store openings. The company also provided guidance for the fourth quarter and reiterated its outlook for fiscal year 2015. WHAT'S NEW: Before the market open, GameStop reported Q3 adjusted earnings per share of 54c on revenue of $2.02B, below analysts' consensus estimates of 59c and $2.14B, respectively. GameStop added that global same-store sales for the quarter were down 1.1% year over year, with SSS down 1.7% in the United States and up 0.3% internationally. The company said foreign currency negatively impacted EPS by 2c and sales by about $100M and noted that it recorded $1.6M of one-time charges as a result of non-recurring acquisition-related costs. GameStop said new hardware sales declined 20.4%, while new software sales were down 9.3%; pre-owned sales were up 0.6%, the company said. Commenting on the quarter, Chief Executive Officer Paul Raines said that the company's results fell to the low end of its guidance range -- 53c-60c for EPS on SSS up 1% to up 4% -- due to "lower than expected new software and hardware sales and delays in Technology Brands store openings." The company provided an outlook for the fourth quarter, forecasting EPS of $2.12-$2.32, below analysts' estimates of $2.37, and SSS ranging from down 1% to up 6%. Despite the disappointing Q3 earnings and weak Q4 guidance, GameStop affirmed its FY15 EPS view of $3.66-$3.86 and added that it expects full year same store sales to grow 2%-6%. WHAT'S NOTABLE: Prior to the retailer's Q3 earnings report, Steven Russolillo of the Wall Street Journal's Ahead of the tape said that GameStop was "running out of lives" since it has experienced an increasingly challenging video game retail environment due to a rising number of shoppers buying games digitally. Russolillo noted that GameStop's resale business is still profitable and may pare losses somewhat. In addition, NPD Group reported earlier this month a 3% year over year decline in game software retail sales in the U.S. in October. The loss came even despite the major launch of Microsoft's (MSFT) flagship title "Halo 5: Guardians." STREET RESEARCH: Piper Jaffray analyst Michael J. Olson said that GameStop is "clearly" seeing an impact from increasing digital software sales, but that the firm expects digital expansion to ease during the holiday quarter. Olson added that the video game industry is currently in the "renewed growth phase" and that he expects trends in the sector to be strong heading into 2016. The analyst maintained an Overweight rating and $57 price target on the company's stock. PRICE ACTION: In morning trading, GameStop slipped 13.93% to $33.89. The company will hold its earnings conference call at 11am. OTHERS TO WATCH: Video game makers are also lower this morning. Shares of Electronic Arts (EA) are down 2.26%, Take Two Interactive (TTWO) is down 0.84% and Activision Blizzard is down 1.55%.
10:00 EDTYPFOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Abercrombie & Fitch (ANF) upgraded to Peer Perform from Underperform at Wolfe Research... Constellation Brands (STZ) upgraded to Outperform from Market Perform at Cowen... Dick's Sporting (DKS) upgraded to Buy from Hold at Canaccord... Encana (ECA) upgraded to Buy from Hold at Evercore ISI... Genomic Health (GHDX) upgraded to Buy from Neutral at UBS... HP Inc. (HPQ) upgraded to Buy from Hold at Maxim... Heritage Commerce (HTBK) upgraded to Buy from Hold at Sandler O'Neill... James River Group (JRVR) upgraded on improved outlook at BMO Capital... Kellogg (K) upgraded to Outperform from Neutral at Credit Suisse... KeyCorp (KEY) upgraded to Buy from Hold at Jefferies... Och-Ziff Capital (OZM) upgraded to Outperform from Market Perform at Keefe Bruyette... PBF Energy (PBF) upgraded to Buy from Neutral at Goldman... Panera Bread (PNRA) upgraded to Buy from Hold at Maxim... Parkway Properties (PKY) upgraded to Buy from Neutral at Mizuho... PepsiCo (PEP) upgraded to Neutral from Reduce at Nomura... Sanchez Energy (SN) upgraded to Buy from Accumulate at KLR Group... Sonoco (SON) upgraded to Outperform from Neutral at Macquarie... Synchrony (SYF) upgraded to Buy from Neutral at Sterne Agee CRT... Telecom Argentina (TEO) upgraded to Neutral from Sell at Goldman... Teva (TEVA) upgraded to Buy from Neutral at Goldman... TransAlta (TAC) upgraded to Sector Perform from Underperform at RBC Capital... Universal Insurance (UVE) upgraded to Outperform at Keefe Bruyette... Willis Group (WSH) upgraded to Hold from Sell at Deutsche Bank... YPF (YPF) upgraded to Buy from Neutral at Goldman.
05:09 EDTYPFYPF upgraded to Buy from Neutral at Goldman
Goldman Sachs analyst Felipe Mattar upgraded YPF Sociedad to Buy saying yesterday's election results, where opposition candidate Mauricio Macri won as president, could renew market expectations for a potential gradual return to more conventional economic policies. Matter raised his price target for shares to $28.50 from $25.
November 19, 2015
10:11 EDTYPFHigh option volume stocks
November 16, 2015
17:10 EDTYPFSoros took stake in Paypal, liquidated Herbalife stake
Soros Fund Management gave a quarterly update on its stakes in a filing this afternoon. NEW STAKES: Paypal (PYPL), CIT Group (CIT), Schlumberger (SLB), Kraft Heinz (KHC), and Amazon (AMZN). INCREASED STAKES: Allergan (AGN), Lions Gate (LGF), Energen (EGN), Southwest Airlines (LUV), and Qunar Cayman Islands (QUNR). DECREASED STAKES: LyondellBasell (LYB), YPF (YPF), Time Warner Cable (TWC), Dow Chemical (DOW), and Monsanto (MON). LIQUIDATED STAKES: Herbalife (HLF), Lennar (LEN), DR Horton (DHI), United Continental (UAL), and Nice Systems (NICE).

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