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Stock Market & Financial Investment News

News Breaks
November 23, 2012
13:15 EDTALU, RIMM, OCZ, BAX, MAPP, WMTOn The Fly: Closing Wrap
Stocks on Wall Street were higher during the post-holiday short session, with each of the major averages adding over 1%. Following an initial move higher in the first hour after the bell, aided by some encouraging economic data from abroad, the indices drifted higher for the remainder of the day and closed at their highs... ECONOMIC EVENTS: In the U.S., no major economic data was released, however, in Europe, separate reports showed business confidence increased in November in both Germany and France. Also, in China, HSBC's Manufacturing Purchasing Managers' Index increased to 50.4, indicating expansion... COMPANY NEWS: Wal-Mart (WMT) announced had its "best ever Black Friday events" in spite of some scattered strikes by workers and shares advanced $1.31, or 1.90%, to $70.20... Research in Motion (RIMM) shares benefited a day after National Bank raised it price target on the stock to $15 from $12. The firm said in a note to investors yesterday that RIM's new management team is executing by maintaining the BlackBerry subscriber base and U.S. listed shares rose $1.40, or 13.65%, to $11.66 in their first day of trading following the bullish write-up... Shares of Baxter (BAX) moved up $2.69, or 4.07%, to $68.81 after The Wall Street Journal said the company is in talks to buy medical-equipment maker Gambro for about $4B to round out its kidney-dialysis business... MAJOR MOVERS: Among the notable gainers were Alcatel-Lucent (ALU), up 10c, or 10.00%, to $1.10 after Bloomberg said the company is in talks with Goldman Sachs (GS) on a loan to strengthen its balance sheet, and MAP Pharmaceuticals (MAPP), up $2.60, or 20.28%, to $15.42 after the company announced that the FDA accepted its Levadex resubmission with a six-month review. Among the noteworthy losers was OCZ Technology (OCZ), which fell 3c, or 2.52%, to $1.16 following its disclosure of a SEC inquiry... INDICES: The Dow was up 172.79, or 1.35%, to 13,009.68; the Nasdaq was up 40.30, or 1.38%, to 2,966.85; and the S&P 500 was up 18.12, or 1.30%, to 1,409.15.
News For RIMM;WMT;BAX;ALU;MAPP;OCZ From The Last 14 Days
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April 17, 2014
09:11 EDTWMTMoneyGram volatility expected to move on Walmart offering money-transfer service
MoneyGram (MGI) option implied volatility is expected to move on Walmart (WMT) announcing its own money-transfer service. Overall option implied volatility of 37 is near its 26-week average according to Track Data, suggesting non-directional price movement.
09:09 EDTWMTWestern Union down 5% after Wal-Mart launches new money transfer service
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09:08 EDTWMTWalmart introduces new money transfer service in partnership with Euronet
Walmart (WMT) and Ria, a subsidiary of Euronet Worldwide (EEFT), announced the launch of Walmart-2-Walmart Money Transfer Service. Available April 24, the new service allows customers to transfer money to and from more than 4,000 Walmart stores nationwide for "up to 50% less than similar offerings on the market," the company said. Walmart-2-Walmart offers a fee structure with just two pricing tiers: customers can transfer up to $50 for $4.50 and up to $900 for $9.50.
08:52 EDTBAXBaxter expects to generate cash flow from operations of $3.5B
Expects FY14 CapEx $1.8B, which includes Gambro in the investments. Sees FY14 R&D to grow in mid single digits and SG&A to grow in mid to high single digits. Sees FY14 tax rate of 231.5%. Expects FY14 Medical Products sales growth of 13%-14%. Expects FY14 Fluid Systems sales to decline 3%-5%. Expects sales growth for BioScience to reach 3%-4%. Comments taken from Q1 earnings conference call.
08:51 EDTWMTWal-Mart announces money transfer service
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07:32 EDTWMTMoneyGram to host conference call
Conference call to discuss Walmart's announcement of new service offering will be held on April 17 at 9 am. Webcast Link
07:04 EDTBAXBaxter reports Q1 BioScience revenue $1.61B
Reports Q1 Medical Products sales $2.34B.
07:03 EDTBAXBaxter sees Q2 EPS before special items $1.18-$1.22, consensus $1.28
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07:03 EDTBAXBaxter sees FY14 EPS before special items $5.05-$5.25, consensus $5.13
Sees FY14 sales growth 9%-10%, before the impact of foreign exchange, consensus $16.6B. Sees FY cash flow from operations approx. $3.5B.
07:01 EDTBAXBaxter reports Q1 adjusted EPS $1.19, consensus $1.09
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06:24 EDTWMTWal-Mart, Euronet to announce new service today
Walmart (WMT) and Euronet (EEFT) last night announced that they will hold a conference call today to announce a new service. "Walmart and Euronet are committed to providing innovative solutions to help customers reduce costs and better manage their money," the press release stated. Shares of Euronet rallied 77c to $41.56 in after-hours trading following the news.
06:20 EDTWMTWal-Mart and Euronet host conference call
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April 16, 2014
08:48 EDTBAXBaxter says meets primary endpoint in Phase 3 BAX 111 trial
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April 15, 2014
05:38 EDTWMTWal-Mart downgraded to Underperform from Market Perform at William Blair
William Blair downgraded its rating on Wal-Mart (WMT) to Underperform from Market Perform citing risks with e-commerce competition and the prospect of sector rotation away from retailers. William Blair says retail sales were sluggish in Q1 with weak consumer confidence for low-income households.
April 11, 2014
07:09 EDTWMTLi & Fung collaborates with Citigroup on brand unit spinoff, Bloomberg says
Li & Fung (LFUGF)) is said to be collaborating with Citigroup (C) to spin off its brands division, which is valued at nearly $2B, according to Bloomberg, citing people with knowledge of the matter. The company's brand unit sells clothing and toys to retailers such as Wal-Mart (WMT) and Kohl's (KSS). Reference Link
April 10, 2014
13:14 EDTWMTFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
06:13 EDTWMTWal-Mart to carry Wild Oats organic food items
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April 9, 2014
09:10 EDTWMTWal-Mart to purcahse energy-efficient LED ceiling lighting fixtures from GE
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April 8, 2014
07:22 EDTBAXCaSA-ISPE to hold a conference
21st Annual Lilfe Sciences Technology Conference is being held in Raleigh, North Carolina on April 8.
06:17 EDTWMTWal-Mart to expand in India, add e-commerce, wholesale stores, WSJ reports
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