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Stock Market & Financial Investment News

News Breaks
August 1, 2014
16:24 EDTSGMS, CVX, WWWW, MGAM, PG, VCRA, BYIOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory and remained there for most of the session, capping a down week with a down day. The averages made it into positive territory for a short time during the morning hours but were never able to build any momentum. Investors were hit with a heavy dose of information, including more corporate earnings, the monthly U.S. jobs report, data on personal income and spending, construction spending and domestic manufacturing, along with manufacturing PMI readings from China. ECONOMIC EVENTS: In the U.S., non-farm payrolls rose 209K in July, missing the 230K forecast. The unemployment rate rose to 6.2% from 6.1% previously. Personal income rose 0.4% in June, with spending up 04% as well, and both of those matched expectations. The final reading of the University of Michigan consumer sentiment index for July came in at 81.8, which was in-line with expectations. seen 81.9; previously 81.3. ISM's manufacturing PMI for July rose to 57.1, beating expectations for a more modest rise to 56.0. Construction spending dropped 1.8% in June, versus expectations for it to have risen 0.4%. In China, the government's official manufacturing PMI for July came in above expectations at 51.7, though the HSBC-Markit PMI came in at 51.7, missing the median forecast of 52.0. COMPANY NEWS: Shares of Procter & Gamble (PG) advanced $2.33, or 3.01%, to $79.65 to lead the Dow Jones Industrial Average after the company's core earnings per share beat expectations and it said it intends to pare back its portfolio to focus on the 70 to 80 "core" brands that make up about 90% of its revenue... Another member of the Dow, Chevron (CVX), moved in the opposite direction, falling $1.34, or 1.04%, to $127.90 after its own earnings report. The oil major also lowered its FY14 production view by 1%-2%, citing weather, asset sales and a shutdown at its Angola LNG site as negative production drivers. MAJOR MOVERS: Among the notable gainers was Bally Technologies (BYI), which surged $17.53, or 29.13%, to $77.70 after the company agreed to be acquired by Scientific Games (SGMS) for $5.1B, or $83.30 per share. Another company in the same sector, Multimedia Games (MGAM), rose $2.21, or 9.16%, to $26.33, while Scientific Games gained 24c, or 2.81%, to $8.78 following the announcement of the deal. Among the noteworthy losers was Vocera (VCRA), which fell $3.42, or 27.21%, to $9.15 and was downgraded to Hold from Buy at Craig-Hallum and cut to Equal Weight from Overweight at Stephens following the company's Q2 report and lowered FY14 guidance. Also lower were shares of Web.com (WWWW), which dropped $6.43, or 24.22%, to $20.12 and was downgraded at SunTrust and BWS Financial after its own quarterly report. INDEXES: The Dow dropped 69.93, or 0.42%, to 16,493.37, the Nasdaq fell 17.13, or 0.39%, to 4,352.64, and the S&P 500 declined 5.52, or 0.29%, to 1,925.15.
News For PG;CVX;BYI;MGAM;SGMS;VCRA;WWWW From The Last 14 Days
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July 30, 2015
07:33 EDTPGProcter & Gamble reports Q4 organic sales were unchanged
Organic sales were unchanged for the quarter as a three percentage point benefit from pricing and mix was offset by lower shipment volume.
07:07 EDTPGP&G sees FY16 core EPS below to up mid-single digits versus FY15
P&G said it is projecting organic sales to be in-line to up low-single digits versus fiscal 2015. Foreign exchange is expected to be a four to five percentage point headwind on all-in sales growth. As a result, the Company expects all-in sales to be down low-to-mid single digits versus fiscal 2015 results. Consensus $75.93B. The company said it expects core earnings per share to be slightly below to up mid-single digits versus FY15 restated core EPS of $3.77. Strong operating profit growth is expected to be largely offset by a six to seven percentage point core EPS growth headwind from lower non-operating income and a higher core effective tax rate. P&G noted that foreign exchange is estimated to be a three to four percent negative impact on core EPS growth, with the vast majority of this impact affecting the first-half of fiscal 2016.
07:05 EDTPGP&G takes $2.1B charge on accounting change for Venezuelan operations
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07:03 EDTPGProcter & Gamble reports Q4 core EPS $1.00, consensus 95c
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July 29, 2015
15:08 EDTPGNotable companies reporting before tomorrow's open
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15:01 EDTPGEarnings Watch: Procter & Gamble reporting amid CEO succession
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14:07 EDTCVXChevron volatility elevated into Q2 and outlook
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13:04 EDTCVXSaudi Arabia to lower oil production after summer, WSJ reports
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08:24 EDTPGProcter & Gamble July weekly volatility elevated into Q4 and outlook
Procter & Gamble July weekly call option implied volatility is at 32, August is at 15, September is at 14; compared to its 52-week range of 10 to 19, suggesting large near term price movement into the expected release of Q4 results on July 30.
05:54 EDTWWWWWeb.com should be owned into Thursday's results, says Piper Jaffray
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July 28, 2015
17:32 EDTPGProcter & Gamble appoints David Taylor CEO
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09:09 EDTSGMSScientific Games appoints David Smail as Chief Legal Officer
Scientific Games announced the appointment of David W. Smail as Executive Vice President and Chief Legal Officer, effective August 3. Most recently, Smail was Executive Vice President and General Counsel of Morgans Hotel Group Co., where he served as chief legal officer of the hospitality company from 2006 to 2014. Previously, he was Executive Vice President and Group General Counsel at Havas S.A., a French-based global advertising and communications services company following a progressive legal career at the international law firm Hogan Lovells in their Paris and Washington, D.C. offices, most recently as Partner in their Washington, D.C. office.
08:13 EDTPGNew Procter & Gamble CEO unlikely to make major changes, says Bernstein
After The Wall Street Journal reported that Procter and Gamble had named David Taylor as its new CEO, Bernstein says the move was expected. The firm believes that the company needs changes in several areas, but it does not expect Taylor to make major changes. Bernstein keeps a $92 price target and Outperform rating on the shares.
07:11 EDTPGProcter & Gamble may issue 'safe' guidance, says Wells Fargo
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July 27, 2015
18:16 EDTPGProcter & Gamble expected to name David Taylor as next CEO, WSJ says
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17:57 EDTPGProcter & Gamble to name David Taylor as next CEO, Dow Jones says
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July 22, 2015
06:39 EDTCVXEuro, U.S. oil and gas groups to find tough competition in Iran, WSJ says
European and U.S. oil and gas firms drawn to Iran as sanctions lessen can expect not only opportunities, but also Iranian companies offering tough competition or joint ventures, the Wall Street Journal reports. Though no Iran-based companies have the clout of firms such as Exxon Mobil (XOM) or Schlumberger (SLB), companies that can take on engineering tasks are emerging and growing in Iran, the report says. If the Iran nuclear agreement comes into effect and sanctions are lifted against Iran sometime soon, those Iranian companies will be well positioned to compete for tens of billions of dollars worth of service contracts, the report adds. Other publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
July 21, 2015
10:01 EDTPGOn The Fly: Analyst Initiation Summary
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July 20, 2015
16:36 EDTPGProcter & Gamble initiated with a Neutral at Sterne Agee CRT
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July 19, 2015
13:37 EDTPGProcter & Gamble shares look unattractive, Barron's says
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