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Stock Market & Financial Investment News

News Breaks
February 20, 2013
12:35 EDTTSS, OMX, MM, NTSP, ODP, HNR, CATOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday following the release of several domestic economic reports and ahead of the minutes from the last FOMC meeting. The averages drifted quietly with little direction in the early part of the session, but weakened following rumors that a sizable commodity hedge fund was in trouble and was forced to liquidate. Details of that rumored collapse were scarce, though crude prices were down over 2% in midday trading... ECONOMIC EVENTS: In the U.S., Commerce Department figures showed total housing starts dropped 8.5% to a 890K rate in January, which was less than forecast. However, building permits were up 1.8% in the month, versus expectations for an increase of 1.2%. Producer prices in January rose 0.2%, versus expectations for an increase of 0.3%. The core producer price inflation figure, which excludes volatile food and energy components, rose 0.2%, which was in line with expectations. Also, the Federal Reserve is scheduled to release the minutes from its Jan. 29-30 meeting at 2pm ET... COMPANY NEWS: Shares of Office Depot (ODP) and OfficeMax (OMX) both declined after confirming their previously rumored plan to merge, but the announcement took a strange turn. Office Depot inadvertently announced the deal early as part of its earnings report, though both companies confirmed the merger in press releases later in the morning. Following the confirmation of the all-stock deal, Office Depot fell 14%, while OfficeMax slid nearly 4%... Dow member Caterpillar (CAT) declined almost 2% after disclosing that global retail machine sales dropped 4% in the three months through January, continuing a trend of declining sales that began in the prior month... MAJOR MOVERS: Among the notable gainers was NetSpend (NTSP), which rose over 28% to $15.79 after agreeing to be acquired by Total Systems (TSS) for $16 per share. Shares of buyer Total Systems slipped more than 6%. Also lower were shares Harvest Natural Resources (HNR), down over 38% after its agreement to sell interests in Venezuela was terminated, and Millennial Media (MM), which fell 36% after its quarterly report and a downgrade of the stock at Morgan Stanley... INDICES: Near midday, the Dow was down 18.97, or 0.14%, to 14,016.70; the Nasdaq was down 17.42, or 0.54%, to 3,196.17; and the S&P 500 was down 6.17, or 0.40%, to 1,524.77.
News For ODP;OMX;CAT;NTSP;TSS;HNR;MM From The Last 14 Days
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March 4, 2015
09:37 EDTODPStarboard says combined Staples-Office Depot could be worth $32-$37 per share
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March 3, 2015
07:28 EDTCATEvercore ISI to hold a conference
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February 27, 2015
10:52 EDTODPOptions with increasing implied volatility
Options with increasing implied volatility: WBAI ARCP BHI TLM ODP
February 24, 2015
06:55 EDTODPOffice Depot sees $400M of cash merger integration expenses from 2014-2016
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06:54 EDTOMX, ODPOffice Depot expects to achieve synergy benefits of more than $750M by 2016-end
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06:53 EDTODPOffice Depot sees FY15 sales to be lower than FY14, consensus $15.5B
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06:52 EDTODPOffice Depot says acquisition by Staples to close by end of 2015
06:52 EDTODPOffice Depot reports Q4 N. American retail division sales $1.54B
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06:51 EDTODPOffice Depot says 2015 operating priorities focus on synergies, efficiencies
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06:51 EDTODPOffice Depot reports Q4 adjusted EPS 7c, consensus 4c
Reports Q4 revenue $3.83B, consensus $3.91B
February 19, 2015
11:11 EDTCATCaterpillar retail trends remain negative, says Wells Fargo
After Caterpillar reported earlier that its retail sales of machine declined 14% in the three month period ending in January, Wells Fargo noted that the trend worsened from December's 12% drop and that all regions reported declines. The firm believes retail trends remain negative for Caterpillar shares, on which it keeps a Market Perform rating.
09:09 EDTCATCaterpillar reports retail machines sales down 14% in three months end January
Caterpillar reported in a filing that its total retail machines sales were down 14% on a three month rolling basis in January. For reference, retail sales of machines were down 12% in the period ending in December and were down 10% in the period ending in November. The company reported world Resources Industries sales down 27% in the January period, which was down fom the 22% drop in the December end period. Construction Industries world sales were down 10%, worse than the 9% drop in the December period. Total Energy & Transportation Retail Sales were up 22% in the January end period, which was the same growth rate as seen in the December period.
07:20 EDTCATCaterpillar facing multiple federal investigations, WSJ says
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