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Stock Market & Financial Investment News

News Breaks
April 25, 2014
12:41 EDTF, DV, P, MSFT, LPNT, CYTK, AMZN, PBHOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, with the tech-heavy Nasdaq being weighed down by shares of Amazon (AMZN), which slid following the e-commerce giant's quarterly report. The market opened lower and picked up downside momentum to extend the slide to triple digit losses for the Dow and a more than 1% loss for the Nasdaq. The weakness comes in spite of a report that showed consumer confidence surged in April to approach the highest level since the recession began in 2007. ECONOMIC EVENTS: In the U.S., Markit's flash services PMI dipped 1.1 points to 54.2 in April, missing expectations for a rise to 55.5. The final University of Michigan consumer confidence reading for April rose to 84.1, beating expectations for a reading of 83.0. In Europe, S&P cut Russia's sovereign rating to BBB-. COMPANY NEWS: Shares of online retailer Amazon.com fell 9% after the company’s second quarter outlook failed to impress. After the company reported roughly in-line Q1 results and forecast Q2 revenue of $18.1B-$19.8B, compared to consensus of $19.03B, Citigroup, Wells Fargo, and Deutsche Bank all lowered their respective price targets on the stock. Another firm, Raymond James, downgraded Amazon to Outperform from Strong Buy, citing mixed Q1 results, a continued significant investment cycle, and slowing unit growth and media sales. The firm lowered its price target on the shares to $391 from $443... Microsoft (MSFT) shares were up nearly 1% after reporting earnings that beat expectations on revenues that were roughly in-line with estimates in the first quarter with new CEO Satya Nadella at the helm. MAJOR MOVERS: Among the notable gainers was Prestige Brands (PBH), which rose 17% after the company agreed to acquire Insight Pharmaceuticals for $750M. Also higher following their earnings reports were for-profit education company DeVry (DV), which gained 14%, and hospital operator LifePoint Hospitals (LPNT), which advanced 5%. Among the noteworthy losers was drugmaker Cytokinetics (CYTK), which plunged more than 60% after a trial of tirasemtiv in ALS did not achieve its primary efficacy endpoint. Also lower following their earnings reports were Internet radio provider Pandora (P), which fell over 15%, and carmaker Ford (F), which slid 3%. INDEXES: Near midday, the Dow was down 119.19, or 0.72%, to 16,382.46, the Nasdaq was down 58.29, or 1.41%, to 4,090.05, and the S&P 500 was down 11.91, or 0.63%, to 1,866.70.
News For PBH;LPNT;DV;AMZN;MSFT;F;CYTK;P From The Last 14 Days
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January 27, 2016
13:17 EDTFFord volatility elevated into Q4 and outlook
Ford January weekly call option implied volatility is at 59, February is at 31; compared to its 52-week range of 16 to 44, suggesting large near term price movement into the expected release of Q4 results on January 28.
12:44 EDTFEarnings Watch: Ford sees record 2015 pre-tax profit, ex-items
Ford Motor Co. (F) is expected to report fourth quarter earnings on Thursday, January 28, before the market open with a conference call scheduled for 9:00 am ET. Ford is a manufacturer and distributor of cars and trucks across six continents. EXPECTATIONS: Analysts are looking for earnings per share of 50c on revenue of $36.4B, according to First Call. The consensus range for EPS is 36c-53c on revenue of $34.03B-$38.82B. LAST QUARTER: Ford reported third quarter adjusted EPS of 45c against estimates for 47c, on revenue of $38.1B against estimates for $35.07B. Ford reconfirmed fiscal 2015 pre-tax profit guidance to range from $8.5B-$9.5B, with higher automotive revenue, operating margin, and operating-related cash flow compared with 2014. Ford expects North America 2015 pretax profit to exceed last year's result with an operating margin at the upper end of the company's guidance of 8.5%-9.5%. For Europe, Ford continues to expect pre-tax loss for 2015 to improve compared with 2014 as the company continues towards a return to profitability in the region. On the company's conference call, management said it was on track to deliver a "breakthrough" year and expected a stronger second half, driven by Q4. On January 6, Ford announced a $1B supplemental cash dividend reflecting the company's strong financial performance in 2015 and robust cash and liquidity levels. It also announced that it expects to deliver record 2015 pre-tax profit, ex-items and sees FY16 operating EPS to be about equal to or higher than FY15. During the quarter, Ford reported the following: October U.S. sales up 13% to 213,938 vehicles; November U.S. sales up 0.4% to 187,794 units; and December U.S. sales up 8% to 239,242 vehicles. On January 5, Ford reported total 2015 U.S. sales of 2.61M vehicles, up 5%. STREET RESEARCH: Street research has been light in the weeks leading up to Ford's Q4 earnings report. On October 28, UBS said the weakness in Ford shares following the company's Q3 tax related miss was a buying opportunity. The firm believed guidance was conservative and the company was setting up for a solid 2016. UBS reiterated its Buy rating and lowered its price target to $22 from $23 on Ford shares. PRICE ACTION: Ford's shares are down approximately 23% since its Q3 report and have lost about 19% year-over-year. In afternoon trading ahead of Thursday's Q4 report, Ford shares are up just over 1% to around $12.
12:34 EDTDVDeVry Education puts active after Federal Trade Commission filed suit
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12:28 EDTDVFor-profit education names fall after FTC sues DeVry over marketing
DeVry Education (DV) and its peers in the for-profit education space are falling after the Federal Trade Commission filed suit against the company, alleging that DeVry's advertisements "deceived" consumers about the likelihood of finding jobs in their chosen fields of study and earning more than graduates from other universities. In a related action, the Department of Education is also moving against the company for those same practices, requiring it to stop the allegedly deceptive advertisements and take steps to ensure it can verify the truthfulness of its post-graduation employment outcomes, including hiring an independent auditor and informing students of its "unsubstantiated" statistics. The Department's action comes after its investigation of DeVry found the postgraduation employment claims "have not been substantiated to the extent required by law." PRICE ACTION: Shares of DeVry crashed 13.5% to $20.54 following the news, while Apollo Education (APOL), ITT Educational (ESI) and Strayer Education (STRA) each slid over 2% and Bridgepoint (BPI) fell 1%.
12:20 EDTDVEducation Department sends notice to DeVry University over representations
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12:08 EDTDVDeVry sinks 19%, halted for volatility after FTC enforcement action
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12:07 EDTDVDeVry sinks 19% after FTC brings enforcement action
Peers Apollo Education (APOL), Strayer (STRA), Grand Canyon (LOPE) and Bridgepoint Education (BPI) are also moving lower.
12:05 EDTDVFTC brings enforcement action against DeVry University
The Federal Trade Commission has filed suit against the operators of DeVry University, alleging that DeVry's advertisements "deceived consumers about the likelihood that students would find jobs in their fields of study, and would earn more than those graduating with bachelor's degrees from other colleges or universities." In its complaint, the FTC alleges that the defendants' claim that 90% of DeVry graduates actively seeking employment landed jobs in their field within six months of graduation was deceptive. The complaint charges that another key claim made by DeVry, that its graduates had 15% higher incomes one year after graduation on average than the graduates of all other colleges or universities, also was deceptive. In a related action, the U.S. Department of Education is also taking action against DeVry for its marketing practices, the FTC noted in its statement. The Department of Education is providing notice to DeVry that it will be requiring the institution both to stop certain advertising regarding the post-graduation employment outcomes of its students and to take additional steps to ensure that DeVry can substantiate the truthfulness of its post-graduation employment outcomes. The FTC Commission vote authorizing the staff to file the complaint was 4-0. The complaint was filed in the U.S. District Court for the Central District of California.
12:03 EDTDVFTC drings enforcement action against DeVry University
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12:02 EDTMSFTBox, Microsoft expand alliance to deliver better cloud experiences
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11:34 EDTAMZNVIX methodology for Amazon VXAZN up 3% to 49.89 into Q4 and outlook
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11:17 EDTAMZNStocks with call strike movement; AMZN HOG
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10:07 EDTMSFTMicrosoft announces launch of News Pro app
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09:32 EDTAMZNActive equity options trading on open
Active equity options trading on open: AAPL FB AMZN AAL BAC PCLN NFLX MRK GOOG
09:01 EDTFFord Ohio Assembly Plant adds Ford F-Series Super Duty chassis cab
Ford announced that its Ohio Assembly Plant will support additional production of the all-new 2017 Ford F-Series Super Duty chassis cab. Together with Kentucky Truck Plant, Ohio Assembly will produce F-350, F-450 and F-550 Super Duty chassis cab configurations.
07:59 EDTMSFTMicrosoft volatility elevated into Q2 and outlook
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07:13 EDTAMZNAmazon.com volatility elevated into Q4 and outlook
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06:59 EDTAMZNOptions expected to be active: AAPL FB AMZN BIIB GD HES TXT BA UTX X T
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06:10 EDTAMZNAmazon beats Netflix at Sundance deals, NY Post reports
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06:01 EDTFIBM names Ford President and CEO Mark Fields to board, effective March 1
The IBM (IBM) board of directors yesterday elected Mark Fields to the board effective March 1, 2016. Fields is president and CEO, Ford (F). Ginni Rometty, IBM chairman, president and CEO, said: "We are pleased that Mark will be joining the IBM board of directors. Mark led the highly successful transformation of his company in a competitive industry where technology has driven innovation. He is leading Ford into a future where cars are not only vehicles, but increasingly becoming mobile technology platforms. His knowledge and insights in running a complex global business will make a significant contribution to IBM."
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