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Stock Market & Financial Investment News

News Breaks
June 15, 2012
12:21 EDTNAV, IIVI, YPF, TTWO, NOKOn 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 26, 2014
09:53 EDTNOKNokia management to meet with Oppenheimer
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November 23, 2014
17:11 EDTTTWOTake profits in Take-Two, Barron's says
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November 21, 2014
14:08 EDTTTWOHacker group releases login info for three gaming networks, CNet says
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November 20, 2014
10:29 EDTYPFYPF initiated with a Buy at Deutsche Bank (pre-open)
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November 19, 2014
09:01 EDTNAVCleveland Research is more cautious on Navistar
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November 18, 2014
16:07 EDTNAVCompass Minerals names Matthew Foulston new CFO
Compass Minerals (CMP) announced that Matthew J. Foulston will join the company as CFO effective Dec. 2. Foulston comes to Compass Minerals from Navistar International (NAV) in Chicago where he was the senior vice president of operations and corporate finance. Previously, he was the vice president and chief financial officer at Navistar Truck. He also served as senior vice president and chief financial officer at Mazda North America and held several leadership positions at Ford Motor Company in Germany, the U.K. and the U.S.
10:55 EDTNOKNokia shares higher after announcing N1 Android tablet
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06:46 EDTNOKMicrosoft could spin off Nokia MixRadio, TechCrunch reports
According to sources, Microsoft (MSFT) is considering spinning off Nokia MixRadio, the music streaming service it acquired as part of its takeover of Nokia's (NOK) Devices and Services unit, TechCrunch reports. Microsoft is reportedly seeking investors for Nokia MIxRadio, and the potential spin-off is said to be making "good progress." Reference Link
06:28 EDTNOKNokia to launch Android tablet, FT reports
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November 17, 2014
10:02 EDTNOKOn The Fly: Analyst Downgrade Summary
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08:25 EDTNOKNokia potential to grow businesses increases confidence, says Canaccord
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05:46 EDTNOKNokia downgraded to Underperform from Market Perform at Raymond James
Raymond James downgraded Nokia to Underperform citing high expectations for Technology unit and Networks sales growth. The firm thinks shares at current levels are pricing in a doubling of Technology unit sales.
November 14, 2014
16:58 EDTYPFThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
09:05 EDTTTWONPD says U.S. video game sales down 27% in October, Bloomberg reports
U.S. retail sales of video-game hardware and software in October were nearly flat compared to the same month of last year at $790.7M, according to NPD Group, which noted that game sales fell 27% and hardware sales increased 59%, reported Bloomberg. Publicly traded companies in the space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO). Game console makers include Microsoft (MSFT), Sony (SNE) and Nintendo (NTDOY). Reference Link
07:32 EDTYPFHayman Capital gives quarterly update on stakes
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06:23 EDTNOKNokia to host Capital Markets Day
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05:52 EDTTTWOOctober NPD video game software sales fell 27%, says Piper Jaffray
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