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Stock Market & Financial Investment News

News Breaks
February 14, 2013
17:18 EDTNWSA, TSO, MS, EQIXThird Point reports new stakes in News Corp., Tesoro, Morgan Stanley, Equinix
News For NWSA;TSO;MS;EQIX From The Last 14 Days
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April 17, 2014
06:31 EDTMSBig banks boosting their business lending, WSJ reports
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05:05 EDTEQIXEquinix May volatility increases on CBS Outdoor IRS ruling
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April 16, 2014
16:40 EDTEQIXOn The Fly: Closing Wrap
Stocks on Wall Street were higher after Fed Chair Janet Yellen struck a dovish tone in comments to the Economic Club of New York, which was in step with the minutes of the last FOMC meeting released last week. The Fed also released its latest Beige Book report, which indicated that economic activity increased in most regions after the severe winter weather that gripped much of the country to start the year had let up. Corporate earnings season continues to pick up steam, with Dow members IBM (IBM) and American Express (AXP), as well as Google (GOOG), reporting after the market close. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fed's Beige Book report indicated that economic activity rebounded and strengthened in most regions over the last six week. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Bank of America (BAC) fell 26c, or 1.59%, to $16.13 after the bank reported a first quarter loss of 5c per share, largely due to $6B in legal charges. Excluding the impact of this litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and other legacy mortgage-related matters, the banking major reported earnings that appeared to beat estimates... Yahoo (YHOO) gained $2.14, or 6.26%, to $36.35 after its quarterly report, with investors reacting most positively to the 66% year-over-year revenue growth reported by Chinese e-commerce company Alibaba, in which Yahoo holds a 24% stake. Yahoo's quarterly profit and revenue also beat expectations and the company's CEO Marissa Mayer said during its earnings webcast that the search giant's core business has moved from declining growth to stable to modest growth. MAJOR MOVERS: Among the notable gainers was CBS Outdoor (CBSO), which jumped $1.94, or 6.69%, to $30.96 after the IRS approved a plan for the company, which was just last week spun-off from its parent CBS (CBS), to convert into a real estate investment trust, or REIT. Other companies seeking REIT status, including Equinix (EQIX), Iron Mountain (IRM) and Lamar Advertising (LAMR), also rose following CBS' announcement. Also higher was drugmaker Zogenix (ZGNX), up 48c, or 20.51%, to $2.82 after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers were U.S.-listed shares of Credit Suisse (CS), which fell 54c, or 1.7%, to $31.22 after the Swiss bank reported net income and revenue that fell when compared to the prior year. Also lower were Agnico Eagle Mines (AEM) and Yamana Gold (AUY) after agreeing to jointly acquire Osisko Mining. Angico shares fell $2.61, or 8.56%, to $27.88, while Yamana was down 36c, or 4.3%, to $8.02. INDEXES: The Dow was up 162.29, or 1.0%, to 16,424.85, the Nasdaq was up 52.06, or 1.29%, to 4,086.23, and the S&P 500 was up 19.33, or 1.05%, to 1,862.31.
16:17 EDTEQIXCBS favorable PLR a positive for Equinix, says Wells Fargo
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15:20 EDTEQIXEquinix mentioned positively at Pacific Crest
Following the favorable REIT ruling for CBS Outdoor (CBSO), Pacific Crest said it expects Equinix (EQIX) will also be approved as a REIT.
15:17 EDTMSNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include General Electric (GE), consensus 32c; Philip Morris (PM), consensus $1.16; Schlumberger (SLB), consensus $1.20; PepsiCo (PEP), consensus 75c; Union Pacific (UNP), consensus $2.37; UnitedHealth (UNH), consensus $1.09; Honeywell (HON), consensus $1.26; Goldman Sachs (GS), consensus $3.44; du Pont (DD), consensus $1.59; Morgan Stanley (MS), consensus 60c; Danaher (DHR), consensus 80c; BlackRock (BLK), consensus $4.14; Blackstone (BX), consensus 55c; Chipotle Mexican Grill (CMG), consensus $2.86; Mattel (MAT), consensus 9c; Snap-on (SNA), consensus $1.54; AutoNation (AN), consensus 74c.
15:10 EDTEQIXCBS Outdoor, other REIT seekers rise after IRS ruling
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13:00 EDTMSMorgan Stanley April volatility elevated into Q1
Morgan Stanley April call option implied volatility is at 53, May is at 30, June is at 26; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement into the expected release of Q1 results on April 17.
12:49 EDTMSEarnings Preview: Morgan Stanley to report after negative signs from peers
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April 15, 2014
10:00 EDTMS, EQIXOn The Fly: Analyst Upgrade Summary
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09:16 EDTMSOn The Fly: Pre-market Movers
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07:25 EDTEQIXEquinix upgraded at Oppenheimer
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06:30 EDTEQIXEquinix upgraded to Outperform from Perform at Oppenheimer
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06:15 EDTMSMorgan Stanley upgraded to Buy from Neutral at BofA/Merrill
BofA/Merrill upgraded Morgan Stanley to Buy citing an attractive risk/reward following the recent pullback in shares. The firm keeps a $35 price target for the stock.
April 14, 2014
10:44 EDTMSMorgan Stanley April calls active into Q1
Morgan Stanley April 30 calls are active on 12K contracts into the expected release of Q1 results on April 17. April call option implied volatility is at 46, May is at 31, June is at 26; compared to its 26-week average of 27 according to Track Data, suggesting large near term price movement.
07:10 EDTMSNBG picks Goldman, Morgan Stanley to manage share offering, Reuters says
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April 11, 2014
07:37 EDTMSGoldman, Morgan, Citi probed by FINRA over bond deals, WSJ says
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April 10, 2014
06:41 EDTMSGo Daddy hires Morgan Stanley, JPMorgan for IPO, NY Times says
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06:35 EDTMSMobile banking presents opportunity and risks for banks, WSJ reports
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05:52 EDTEQIXEquinix, Vancis, Nikhef announce new partnership in Amsterdam
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