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Stock Market & Financial Investment News

News Breaks
February 20, 2013
16:52 EDTTSS, CAT, ODP, NTSP, TRI, HNR, CHTP, OMXOn The Fly: Closing Wrap
Stocks on Wall Street were lower as each of the major averages dropped after the minutes from the last FOMC meeting indicated several Fed members are ready to vary the pace of bond buying... ECONOMIC EVENTS: In the U.S., 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. The minutes from the FOMC's Jan 29-30 meeting, released at 2 pm ET, said that several Fed members are concerned about the costs and risks of additional asset purchases. Several members of the committee said the Fed should be prepared to vary the pace of asset purchases, as the committee members continued to see moderate economic growth and gradually declining unemployment... COMPANY NEWS: The Office Depot (ODP) and OfficeMax (OMX) merger, reported over the long holiday weekend by the Wall Street Journal, was formally announced by the companies. However, the confirmation was inadvertently released on Office Depot's website ahead of the joint announcement, an error for which Thomson Reuters (TRI) later took responsibility. Shares of both companies, which had run-up after the WSJ story, declined following the confirmation, with Office Depot losing 84c, or 16.73%, to $4.18 and OfficeMax falling $91c, or 7%, to $12.09... Dow member Caterpillar (CAT) dropped $2.38, or 2.49%, to $93.22 after disclosing that global retail machine sales were down 4% in the three month rolling period ending January 31... MAJOR MOVERS: Among the notable gainers were shares of Chelsea Therapeutics (CHTP), up $1.14, or 149.51%, to $1.91 after the company received FDA guidance for a Northera new drug application resubmission and the stock was upgraded to Buy at Ladenburg. Also higher was NetSpend (NTSP), up $3.52, or 28.64%, to $15.81 after agreeing to be acquired by Total Systems (TSS) for $16 per share. Shares of buyer Total Systems lost $1.51, or 6.43%, to $21.97 following the acquisition. Also lower were shares of Harvest Natural Resources (HNR), down $3.71, or 40.5%, to $5.45 after its agreement to sell interests in Venezuela was terminated since the government of Indonesia voted against the transaction... INDICES: The Dow was down 108.13, or 0.77%, to 13,927.54; the Nasdaq was down 49.18, or 1.53%, to 3,164.41; and the S&P 500 was down 18.99, or 1.24%, to 1,511.95.
News For ODP;OMX;TRI;CAT;CHTP;NTSP;TSS;HNR From The Last 14 Days
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August 31, 2015
16:09 EDTCATLongbow to hold a conference
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August 28, 2015
16:53 EDTODPStaples, Office Depot certify substantial compliance with Second Request
Staples (SPLS) and Office Depot (ODP) announced that they have certified substantial compliance with the Request for Additional Information from the United States Federal Trade Commission regarding the proposed merger between Staples and Office Depot. Additionally, Staples and Office Depot have entered into a timing agreement with the FTC pursuant to which Staples and Office Depot have agreed not to close the proposed merger until at least forty-five full calendar days after each company has certified substantial compliance with the Second Request. "We are pleased to have completed our submission of documents and information to the FTC in connection with the Second Request," said Ron Sargent, chairman and chief executive officer, Staples. "We will continue to work closely with the FTC, and we look forward to completing the transaction."
August 27, 2015
13:46 EDTCATCaterpillar planst to lay off 475 more employees, Reuters reports
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August 24, 2015
09:26 EDTCATCaterpillar set to open near 4-year lows
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August 21, 2015
13:02 EDTCATChanos says heavy equipment companies 'have the wind in their face'
Jim Chanos of Kynikos Associates said on CNBC that the companies selling heavy equipment will "have the wind in their face" for years as inventory is worked though. Chanos added that he remains short shares of Caterpillar (CAT), pointing out the company acquired Bucyrus at the top of the market. Peers of Caterpillar include Deere (DE) and AGCO (AGCO).
12:56 EDTCATChanos says still short shares of Caterpillar
Jim Chanos of Kynikos Associates said on CNBC .
08:40 EDTTRICanadian Security Traders Association to hold a conference
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