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Stock Market & Financial Investment News

News Breaks
November 27, 2012
12:16 EDTRAH, MMR, GLW, ACAD, LVS, BF.B, BFA, DDS, CAG, THOOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after "core" durable goods orders and a reading on consumer confidence rose. Stock index futures were slightly lower in pre-market trading, even though the terms of a new debt deal for Greece had been outlined prior to the U.S. opening bell. The major averages spent the majority of the session in negative territory despite some better than expected domestic economic data, but managed to get back on the plus side of the ledger as the lunch hour arrived... ECONOMIC EVENTS: In the U.S., the Commerce Department said non-defense capital goods orders excluding aircraft rose 1.7% in October, versus expectations for a 0.5% decline. Total durable goods orders were unchanged for the month, versus expectations for them to decline 0.7%. The S&P Case-Shiller 20-city home-price index gained 0.4% in September compared to the prior month and prices in the 20 cities rose 3.0% year over year, which were both roughly in line with forecasts. The Conference Board's consumer confidence index rose to 73.7 in November, beating expectations and hitting its highest level in almost five years. The Richmond Fed manufacturing survey for November registered +9, compared to expectations for it to slide to -9 from the prior -7 reading. In Europe, the region's finance ministers, the ECB and the IMF reached an aid deal on Greece, which is expected to help the nation reduce its debt-to-GDP ratio to 124% by 2020... COMPANY NEWS: ConAgra Foods (CAG) agreed to acquire Ralcorp Holdings (RAH) for $90.00 per share, or about $6.8B including the assumption of debt. Shares of Ralcorp shot up 26.4% to $88.76 following the deal announcement and ConAgra also advanced 4.7% after the news... In the continuation of a recent trend, several companies declared new special dividends, with Dillard's (DDS) to pay a one-time dividend of $5.00 per share, Brown-Forman (BFA, BF.B) declaring one at $4.00 per share, and Las Vegas Sands (LVS) approving its own $2.75 per share special dividend... MAJOR MOVERS: Among the notable gainers was ACADIA Pharmaceuticals (ACAD), up 140% following its report of positive results from a trial of its treatment for Parkinson's disease psychosis, or PDP. Also higher were shares of Corning (GLW), up nearly 8% after the company said it now sees stronger than forecasted Q4 LCD glass volume and Topeka raised its rating on the shares to Buy. Among the noteworthy losers was McMoRan Exploration (MMR), which fell over 15% after being down yesterday as well after the company provided an update on its Gulf of Mexico exploration results and indicated ongoing well difficulties. Also lower were shares of Thor Industries (THO), down 10% after its disappointing quarterly report... INDICES: Near noon, the Dow was up 3.22, or 0.02%, to 12,970.59; the Nasdaq was up 5.79, or 0.19%, to 2,982.57; and the S&P 500 was up 2.32, or 0.16%, to 1,408.61.
News For B;LVS;ACAD;GLW;MMR;THO From The Last 14 Days
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July 29, 2014
10:12 EDTGLWCorning falls after results, levels to watch
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10:00 EDTBOn The Fly: Analyst Downgrade Summary
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09:11 EDTGLWCorning says Gorilla Glass demand weakness is timing-based
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08:54 EDTGLWCorning says sees average TV screen size increasing 3% per year through 2015
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07:16 EDTGLWCorning sees Q3 LCD glass volume up by mid-single digit percentage sequentially
Corning CFO James Flaws said, "We expect the third quarter will bring Corning's eighth consecutive year-over-year quarterly sales and earnings improvement, and we are on track for strong earnings growth for the full year. In Q3, the company anticipates its LCD glass volume will be up by a mid-single digit percentage, sequentially. Glass price declines are expected to moderate further, returning to the rates experienced through most of 2013. Optical Communications segment Q3 sales are expected to increase by a mid-single digit percentage year over year, driven by continued strong sales of fiber-to-the-home solutions in North America and Europe. For the Environmental Technologies segment,Q3 year-over-year sales are anticipated to grow by 20% to 25%. Corning continues to benefit from strong demand for its heavy-duty diesel emissions control products in North America, China, and Europe. Specialty Materials segment sales are expected to grow approximately 10% sequentially as demand for Gorilla Glass increases in the second half of the year. Life Sciences segment sales are expected to be up slightly on a year-over-year comparison. Synergies from the Corning Precision Materials acquisition are rapidly being achieved, and we expect to surpass our original goal. The company is delivering excellent growth in our Environmental Technologies and Optical Communications business segments, which we expect will continue through the second half of this year."
07:14 EDTGLWCorning reports Q2 core EPS 37c, consensus 38c
Reports Q2 core revenue $2.58B, consensus $2.53B. The company said, "We had great results in the quarter that led to our seventh consecutive year-over-year quarterly core earnings improvement. We have positive momentum, and we are well-positioned to deliver on our 2014 business plan. We are particularly pleased with the improved performance in our Display Technologies segment. As we anticipated, LCD glass price declines were more moderate than they were last quarter. The integration of Corning Precision Materials Co., Ltd. into our global organization is proceeding very well, and we are benefiting from synergies attained through the consolidation."
06:49 EDTBBarnes Group removed from short-term buy list at Deutsche Bank
Deutsche Bank removed Barnes Group from the short-term buy list due to the weak earnings report.
06:35 EDTBBarnes Group downgraded to Hold from Buy at Deutsche Bank
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July 28, 2014
15:47 EDTGLWNotable companies reporting before tomorrow's open
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14:11 EDTGLWEarnings Preview: Barclays positive on Corning ahead of Q2 report
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08:30 EDTGLWCorning August weekly volatility elevated into Q2 and outlook
Corning August weekly call option implied volatility is at 50, August is at 25, September is at 22, November is at 21; compared to its 26-week average of 23, suggesting large near term price movement into the expected release of Q2 results on July 29.
07:26 EDTGLWAmerican Association for Clinical Chemistry to hold annual meeting
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July 25, 2014
09:32 EDTLVSNevada reports June statewide gaming win up 14.4% to $906.9M
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06:37 EDTBBarnes Group sees FY14 adjusted EPS $2.23-$2.33, consnesus $2.26
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06:36 EDTBBarnes Group reports Q2 Industrial sales up 25% to $212.8M
Reports Q2 Aerospace sales up 13% to $109.3M
06:35 EDTBBarnes Group reports Q2 adjusted EPS 59c, consensus 59c
Reports Q2 revenue $322.1M, consensus $315.7M
July 24, 2014
15:29 EDTBNotable companies reporting before tomorrow's open
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July 18, 2014
11:59 EDTGLWCorning call activity attributed to speculated as takeover target by Forbes
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10:57 EDTGLWCorning speculated at takeover target by Forbes contributor
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July 17, 2014
09:40 EDTLVSActive equity options trading on open
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