New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 16, 2012
16:21 EDTOGXI, WFC, RIG, DSCO, FRO, PWRD, COn The Fly: Closing Wrap
Stock futures were quiet throughout the pre-market trading session, leading to a relatively flat open for the broader market. The action characterized the day’s activity as the averages moved in a narrow range throughout the session and investors ignored economic data points The action was particularly quiet given it was quadruple witching; the day when stock index futures, stock index options, stock options, and stock futures expire. ECONOMIC EVENTS: In the U.S., the CPI showed that prices rose 0.4% in February, in-line with the expected increase. The core reading, which excludes food and energy, showed an increase of 0.1% versus the expected increase of 0.2%. U.S. industrial production was flat in February, versus expectations of rise of 0.4%. Capacity utilization was reported at 78.7%, down from January's upwardly revised 78.8%. In March, U.S. consumer sentiment dipped 1 point to 74.3 according to the preliminary University of Michigan survey, versus expectations for a 76.0 reading... MARKET NEWS: Shares of Transocean (RIG) moved up about 4% after the company's monthly fleet update spurred an upgrade at Global Hunter and price target increases at Citigroup (C) and Susquehanna…MAJOR MOVERS: Among the biggest gainers were Frontline Ltd. (FRO) which soared 23.6% to $7.64 after Wells Fargo (WFC) noted charter costs had risen significantly, and Perfect World (PWRD) which rallied 27.6% to $16.01 after reporting better than expected Q4 results. The losers included Discovery Labs (DSCO) which tumbled 18.5% to $2.85 after announcing a 16M share offering, and OncoGenex Pharmaceutical (OGXI) which fell 20.7% to $13.81 after announcing a 4M share offering. INDICES: The Dow fell 20.14 to 13,232.62, the S&P gained 1.57 to 1,404.17, and the Nasdaq lost 1.11 to 3,055.26.
News For RIG;C;FRO;WFC;PWRD;DSCO;OGXI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
March 19, 2015
13:00 EDTRIGOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with Nasdaq slightly higher and the Dow and S&P 500 both down a bit more than 0.5%. The day’s economic reports were generally benign and are likely less significant to the trading action than participants having had some time to digest yesterday’s Fed comments. Immediately after the Fed's policy statement yesterday, the U.S. dollar fell as low as 1.10 against the euro, but that move was almost entirely reversed overnight. The dollar was back near pre-Fed levels against the euro early this morning, and similar moves were seen in pairs of the dollar and other major currencies. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 1K to 291K in the week ended March 14, which nearly matched the consensus 293K forecast. The current account deficit widened to $113.5B in Q4 from a revised deficit of $98.9B in Q3. The leading indicators for February rose 0.2% to 121.4, which was in-line with expectations. The Philadelphia Fed business outlook survey ticked down to a 5.0 one-year low from 5.2 in February, missing expectations for it to have risen a 7.0 reading. In Europe, the Swiss National Bank left rates unchanged, cut its growth forecasts for the country's economy, said that it will intervene in currency markets as needed since it believes the Swiss Franc remains overvalued. COMPANY NEWS: Apple (AAPL) joined the Dow Jones Industrial Average today, replacing AT&T (T). Shares of the iPhone maker were down 0.5% near midday, while AT&T stock fell a bit more than 1%... Shares of coffee giant Starbucks (SBUX) hit a new all-time high of $98.50 earlier this afternoon following the company's investor day meeting yesterday. In conjunction with its meeting, Starbucks reaffirmed its goal to grow its market cap to $100B, unveiled plans for two pilots of delivery services, announced that its board has declared the sixth two-for-one split of the company’s stock since its IPO in 1992 and said it has entered into an agreement for Tingyi to manufacture and expand the distribution of Starbucks ready-to-drink products throughout mainland China. Goldman Sachs and Wells Fargo both issued upbeat notes on the stock today, saying that the coffee retailer's shares can continue to climb. MAJOR MOVERS: Among the notable gainers was Coronado Biosciences (CNDO), which gained 42% after announcing the formation of a new company, Mustang Therapeutics, focused on Chimeric Antigen Receptor, or CAR-T, technology. The company also announced a licensing agreement with NeuPharma for EGFR inhibitors. Also higher was Guess (GES), which gained 15% after reporting higher than expected profits for its fiscal fourth quarter. Among the noteworthy losers was Transocean (RIG), which fell 6% after having announced last night that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI (E) for the Transocean Amirante was terminated. Transocean also said it intends to scrap four rigs, noting that with those it has announced plans to scrap a total of 16 floaters. Also lower following its earnings report was diversified apparel company Vince Holding (VNCE), which fell 16%. INDEXES: Near midday, the Dow was down 128.51, or 0.71%, to 17,947.68, the Nasdaq was up 3.15, or 0.06%, to 4,985.98, and the S&P 500 was down 13.36, or 0.64%, to 2,086.14.
11:53 EDTWFC, CU.S. banks face headwinds in unloading oil loans, WSJ says
Subscribe for More Information
11:24 EDTRIGStocks with call strike movement; X RIG
Subscribe for More Information
09:20 EDTRIGOn The Fly: Pre-market Movers
Subscribe for More Information
09:06 EDTCCiti Retail Services extends long term consumer relationship with Office Depot
Subscribe for More Information
07:50 EDTRIGTransocean reiterated as a Sell, target to $11 at Goldman
After the close, Transocean announced that four of its 5th generation UDW drillships will be cold stacked and the contract with ENI for the Transocean Amirante was terminated due to the deteriorating security situation in Libya. The firm said these two announcements are indicative of the very weak contracting environment. Goldman reiterates its Sell rating on Transocean and lowered its price target to $11 from $12.
07:15 EDTCCiti CEO tells shareholders 2015 targets 'within reach,' Reuters reports
Subscribe for More Information
06:06 EDTCCiti files lawsuit over Swiss franc surge, Reuters says
Subscribe for More Information
March 18, 2015
16:28 EDTRIGTransocean provides fleet update summary
Subscribe for More Information
13:56 EDTCArgentina to bar Citi from exiting custody business, Reuters says
Subscribe for More Information
March 17, 2015
16:26 EDTDSCOOn The Fly: Closing Wrap
Subscribe for More Information
16:00 EDTC, RIGOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
14:37 EDTCCiti, Barclays near $800M settelement of forex suit, WSJ says
Subscribe for More Information
12:26 EDTCCitibank to exit custody business in Argentina following ruling, WSJ reports
Subscribe for More Information
09:25 EDTDSCOOn The Fly: Pre-market Movers
Subscribe for More Information
07:15 EDTCCiti price target raised on positive news flow at Deutsche Bank
Deutsche Bank raised its price target for Citi (C) shares to $56 from $54 citing recent positive news flow around the sale of OneMain, the credit card deal with Costco (COST) and last week's stress test results. Deutsche notes the stock still trades at a 6% discount to tangible book. It keeps a Buy rating on Citi.
March 16, 2015
19:49 EDTDSCODiscovery Labs pursuing strategic alternative for Surfaxin
Subscribe for More Information
19:47 EDTDSCODiscovery Labs reports Q4 basic EPS (12c), consensus (14c)
Subscribe for More Information
16:00 EDTCOptions Update; March 16, 2015
Subscribe for More Information
14:09 EDTCCiti reports February credit loss 2.55% vs. 2.30% last month
Subscribe for More Information
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use