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Stock Market & Financial Investment News

News Breaks
August 1, 2014
13:46 EDTPKI, EXPE, GPRO, SGMS, PG, BYI, CVXOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after a report showed that the economy continued to add jobs last month though the pace of hiring slowed a bit from the recent trend. 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%. COMPANY NEWS: Shares of Procter & Gamble (PG) advanced more than 3% 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 about 1% 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 jumped 30% after the company agreed to be acquired by Scientific Games (SGMS) for $5.1B, or $83.30 per share. Shares of Scientific Games slipped 1.6% after the news. Also higher following its earnings reports was Expedia (EXPE), which rose 5%. Among the noteworthy losers was GoPro (GPRO), which tumbled 12.5% after the company reported on its earnings per share and revenue for the first time since its initial public offering in June. Also lower following their earnings reports were Web.com (WWWW), which fell 25% and was downgraded at SunTrust and BWS Financial, and PerkinElmer (PKI), which fell 4%. INDEXES: A bit before 2:00 pm ET, the Dow was down 60.46, or 0.37%, to 16,502.84, the Nasdaq was down 24.60, or 0.56%, to 4,345.17, and the S&P 500 was down 4.57, or 0.24%, to 1,926.10.
News For PG;CVX;BYI;SGMS;GPRO;EXPE;PKI From The Last 14 Days
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January 21, 2015
12:35 EDTPGProcter & Gamble's David Taylor likely candidate to succeed CEO, Fortune says
After a recent promotion to lead the beauty business at Proctor & Gamble by CEO A.G. Lafley, David Taylor, who currently runs the global health and grooming business division, now running two of the four business units, appears as the lead candidate to succeed CEO Lafley when he retires from the company, Fortune reports. Reference Link
10:01 EDTCVXOn The Fly: Analyst Downgrade Summary
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07:37 EDTCVXWells upgrades Exxon Mobil, downgrades Chevron
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06:32 EDTCVXChevron downgraded to Market Perform from Outperform at Wells Fargo
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January 20, 2015
18:02 EDTCVXChevron Australian subsidiary signs SPA with SK LNG Trading
Chevron announced its Australian subsidiaries have signed a binding Sales and Purchase Agreement, or SPA, with SK LNG Trading Pte. Under the SPA, SK LNG Trading, which is part of a leading industrial conglomerate in South Korea, will receive 4.15M tons of LNG over a five-year period starting in 2017. During the time of this agreement, over 75% of Chevronís equity LNG from Gorgon will be committed to customers in Asia.
14:09 EDTEXPEOrbitz jumps after Bloomberg says company may be exploring sale
Shares of online travel agency Orbitz Worldwide (OWW) are jumping after Bloomberg reported that the company is exploring the possibility of selling itself. In a note to investors on January 7, research firm FBR Capital wrote that the company could be acquired for over $10 per share, WHAT'S NEW: Orbitz is exploring a potential sale and private equity firms have expressed interest in acquiring the online travel agency, Bloomberg reported today. ANALYST VIEW: On January 7, research firm FBR Capital estimated that Orbitz could be acquired for $10.27 per share. The firm noted that a trade publication, Tnooz.com, had reported that Orbitz could be considering selling itself. Expedia (EXPE) and Priceline (PCLN) could each pay a premium of 30%-plus for Orbitz and still see their profits rise from the acquisition, FBR added. It kept a $9 price target and Outperform rating on Orbitz. PRICE ACTION: In mid-afternoon trading, Orbitz climbed 69c, or 7.5%, to $9.85.
13:51 EDTEXPEOrbitz draws private equity interest as sale explored, Bloomberg says
Orbitz Worldwide (OWW) is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and "other Internet companies," according to Bloomberg, citing people with knowledge of the matter. Shares of Orbitz are up over 10% after the report, while several other names in the online travel space, such as Priceline (PCLN), Expedia (EXPE), and TripAdvisor (TRIP) are also moving. Reference Link
13:43 EDTEXPEExpedia, TripAdvisor tick higher after report on Orbitz sale exploration
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11:00 EDTGPROGoPro slides further, levels to watch
The stock has been in a persistent downtrend since the start of the year. Today the shares are getting closer to a test of support from late summer of last year. At the current price of $46.50, next support is at $44.85 and then at $43.10. Resistance is at $48.23.
January 19, 2015
06:47 EDTCVXJPMorgan says oil may drop below $40/barrel in near-term
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January 18, 2015
17:12 EDTGPROGoPro shares could drop further, Barron's says
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14:22 EDTCVXSchlumberger boss says oil price to challenge land producers, WSJ says
Paal Kibsgaard, CEO of Schlumberger, said U.S. energy producers are not done with work force reductions and that because of high costs, producers that focus on shale fields are worse off than rivals, says the Wall Street Journal. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A), Total (TOT), Schlumberger (SLB) and Baker Hughes (BHI). Reference Link
January 16, 2015
11:49 EDTGPROGoPro being sued by Contour LLC for patent infrigement, Bloomberg reports
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10:49 EDTGPROGoPro volatility elevated as shares trend lower
GoPro January weekly call option implied volatility is at 83, February is at 79, April is at 62; compared to its 26-week average of 56 according to Track Data, suggesting large near term price movement.
10:24 EDTCVXOptions point to oil falling to near $30 per barrel, Merrill Lynch says
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09:01 EDTPGProcter & Gamble files suit against former employees for theft of trade secrets
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08:44 EDTEXPEExpedia may have to pay $180M for Travelocity, says FBR Capital
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07:21 EDTEXPESabre sale of Travelocity to Expedia would be win for both, says Oppenheimer
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06:49 EDTCVXOil prices climb after IEA says production falling, Reuters reports
Oil prices rebounded today after the International Energy Agency, or IEA, said it saw signs that oil production was falling in some areas, including North America, according to Reuters. "A price recovery...may not be imminent, but signs are mounting that the tide will turn," Reuters quoted the IEA as saying. Oil prices could rebound in the second half of the year, the IEA indicated, the news service reported. Publicly traded companies in the space include BP (BP), Chevron (CVX), ConocoPhillips (COP), Exxon Mobil (XOM), Royal Dutch Shell (RDS.A) and Total (TOT). Reference Link
January 15, 2015
13:35 EDTGPRODigital Ally considers action cameras aimed at consumers, Reuters reports
Digital Ally (DGLY) is considering entering the action camera market aimed at consumers, putting it in direct competition with GoPro (GPRO), Reuters reports. CEO Stanton Ross said the company may have a model ready for a "soft launch" in Q3, but will have to do some more due diligence. Reference Link
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