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Stock Market & Financial Investment News

News Breaks
June 13, 2014
12:34 EDTFNSR, LVLT, C, OPEN, EXPR, INTC, GRUB, PCLN, TWTC, YELPOn The Fly: Midday Wrap
Stocks on Wall Street began the session slightly higher but quickly gave up their opening gains. An early report on producer prices unexpectedly showed slight deflation, not price inflation as was expected, which was followed by a worse than expected reading on consumer confidence. The averages dropped into negative territory, but by mid-morning the market had reversed and moved back onto positive ground, where the averages remained near the lunch hour. ECONOMIC EVENTS: In the U.S., the Labor Department's producer price index for final demand slipped 0.2% in May, versus expectations for it to have risen 0.1% in the month. The first release of the University of Michigan consumer confidence index for June dropped to 81.2 from the final May reading of 81.9. COMPANY NEWS: Shares of restaurant review and reservation company OpenTable (OPEN) were the day's big winner after travel site operator Priceline Group (PCLN) agreed to buy the company for $2.6B, or $103 per share. OpenTable advanced 47% to trade at $103.50 near noon, while shares of a number of companies that provide local services and deals via the Internet and mobile devices jumped as well, including Yelp (YELP), which was up 13%, and GrubHub (GRUB), which rose 8.5%... Shares of chip making giant Intel (INTC) rose more than 7% after its raised its guidance for the second quarter, citing strong demand for business PCs, and said that it now expects some revenue growth this fiscal year, versus its previous guidance for "mostly flat" revenue growth. MAJOR MOVERS: Among the notable gainers was Express (EXPR), which jumped 20% after confirming that Sycamore Partners, which owns approximately 9.9% of its shares, has expressed interested in acquiring the company. Also higher was TW Telecom (TWTC), which rose nearly 12% after a financial news service BrightWire said the company and Level 3 (LVLT) are in merger talks. Among the noteworthy losers was telecommunication equipment maker Finisar (FNSR), which sunk 23% after the company’s profit and gross margin outlook trailed analysts’ consensus estimates and its stock was downgraded at Craig-Hallum. Also lower was Citigroup (C), which fell 1.5% after Bloomberg reported that the U.S. is seeking over $10B in its mortgage probe related to the bank. INDEXES: Near midday, the Dow was up 34.84, or 0.21%, to 16,769.03, the Nasdaq was up 12.03, or 0.28%, to 4,309.66, and the S&P 500 was up 5.06, or 0.26%, to 1,935.17.
News For OPEN;PCLN;INTC;YELP;GRUB;EXPR;TWTC;LVLT;FNSR;C From The Last 14 Days
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December 9, 2014
14:44 EDTYELPYelp management to meet with Piper Jaffray
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14:42 EDTCFed sees setting capital surcharge up to 4.5% for big U.S. banks, Bloomberg says
Bloomberg cites surcharge estimates in Federal Reserve staff memo. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC).
11:08 EDTCCitigroup falls, levels to watch
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10:51 EDTCCitigroup sees incurring legal, related charges of approx. $2.7B in Q4
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10:39 EDTCCitigroup expects to see heightened periods of volatility
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10:27 EDTCCitigroup CEO says big things that remain are ForEx, Libor and AMC and process
10:27 EDTCCitigroup says leverage ratio is not binding constraint for company
10:13 EDTCCitigroup CEO sees $2.7B charges in Q4 to address legal reserve charges
CEO Michael Corbat said that after taking the charges in Q4, the company will be "marginally profitable." Comments taken from Goldman Sachs Financial Services conference.
10:10 EDTCCitigroup to take $3.5B in additional charges in Q4, CNBC reports
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09:38 EDTCActive equity options trading
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08:24 EDTCCitigroup to sell Japanese consumer unit to Sumitomo Mitsui, Bloomberg says
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06:11 EDTYELPYelp implied volatility of 44 at lower end of index mean range
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06:09 EDTPCLNStocks with implied volatility below IV index mean; PCLN WFM
Stocks with implied volatility below IV index mean; Priceline (PCLN) 20, Whole Foods (WFM) 20 according to iVolatility.
05:59 EDTCCitigroup appointed successor depositary bank for Deutsche Post ADR program
Citi (C), acting through Citibank N.A., has been appointed by Deutsche Post AG (DPSGY) as successor depositary bank for its Level 1 American Depositary Receipt, or ADR, program. Deutsche Post DHL’s ADR program trades in the U.S. over the counter market, with each ordinary share equivalent to 1 ADR.
December 8, 2014
16:55 EDTCLone Star joins Springleaf as bidder for Citigroup OneMain unit, Bloomberg says
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16:00 EDTCOptions Update; December 8, 2014
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15:40 EDTCLone Star joins Springleaf as bidder for Citigroup OneMain unit, Bloomberg says
10:20 EDTFNSR, EXPROptions with decreasing implied volatility
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06:35 EDTCValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:21 EDTCDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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