New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 4, 2014
12:59 EDTCLF, QCOM, MDR, RSH, VIPSOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, as the S&P 500 rebounded from yesterday's loss, which was its biggest in a month. Investors were relived and stepped back in to buy after Russian President Vladimir Putin said there’s no immediate need to send troops to Ukraine. The lone economic report of any significance, the ISM report for the New York region, fell from its prior reading but the decline was explained away due to the harsh winter weather. The market rebound could be short lived, however, with the situation in Ukraine not fully resolved by any means. ECONOMIC EVENTS: In the U.S., the New York region ISM reading for February fell to 57.0 from last month's 64.4 figure. COMPANY NEWS: Shares of electronic retailer RadioShack (RSH) dropped 14% after the company reported greater than expected losses during its fourth quarter and announced that it plans to close up to 1,100 of its stores this year in the U.S. The company said its fourth quarter comparable store sales were down 19% and its overall fourth quarter results were driven by a holiday season characterized by lower store traffic, intense promotional activity particularly in consumer electronics, a very soft mobility marketplace and a few operational issues. However, the The company also stated that it is not considering a pre-packaged bankruptcy and it has ample liquidity to meet its obligations. MAJOR MOVERS: Among the notable gainers was Chinese online discount retailer Vipshop (VIPS), which soared 30% after the company's fourth quarter results and first quarter guidance easily surpassed expectations. Also higher was semiconductor chip maker Qualcomm (QCOM), which advanced nearly 4% after raising its quarterly dividend by 20% and increasing its share repurchase authorization by $5B. Among the noteworthy losers was Cliffs Natural Resources (CLF), which dropped 2.5% after the stock was downgraded to Underperform from Market Perform at Wells Fargo. Also lower was energy industry services provider McDermott (MDR), which slid over 9% after reporting a quarterly loss of $1.37 a share and suspending guidance for the “foreseeable future” as it undergoes significant changes. Both Capital One and Stephens downgraded McDermott shares following the report. INDEXES: Near 1 pm ET, the Dow was up 215.00, or 1.33, to 16,383.03, the Nasdaq was up 75.80, or 1.77%, to 4,353.10, and the S&P 500 was up 25.86, or 1.4%, to 1,871.59.
News For RSH;QCOM;VIPS;MDR;CLF From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
March 26, 2015
08:26 EDTQCOMSemi stocks less likely to rebound now than in 4Q14, says Goldman
Subscribe for More Information
07:36 EDTCLFCliffs CEO says 'absolutely confident' in liquidity, Bloomberg reports
Cliffs Natural CEO Lourenco Goncalves told Bloomberg in a telephone interview, "Based on our current outlook and our contracts in place with our clients, we are absolutely confident that we have enough liquidity to run through the down cycle." The comments followed Cliffs' $540M sale of senior secured notes.
March 25, 2015
16:00 EDTCLFOptions Update; March 25, 2015
Subscribe for More Information
07:33 EDTQCOMQualcomm Life and AMC Health announce collaboration
Qualcomm Life, a subsidiary of Qualcomm, and AMC Health announced a collaborative effort to accelerate the transformation of chronic care and population health management by significantly enhancing connectivity and care coordination for at-risk patients, specifically those with heart failure, hypertension, diabetes, asthma or COPD, in a cost-effective manner. The companies will integrate Qualcomm Life's 2net Connectivity Platform with AMC Health's CareConsole care coordination platform.
March 24, 2015
12:19 EDTMDRMcDermott sees $50M cash savings in 2015
Subscribe for More Information
March 23, 2015
07:07 EDTCLFCliffs Natural agrees to sell Chromite assets to Noront for $20M
Cliffs Natural Resources announced that it has entered into a definitive agreement to sell its Chromite assets in Northern Ontario, Canada to Noront Resources Ltd. for $20M. The transaction is comprised of the chromite deposits and associated claims held by Cliffs. The sale of these assets to Noront, an experienced mining company with a strategic interest in the Ring of Fire region, further demonstrates execution of Cliffs' strategy which includes divesting non-core assets and focusing on being the major supplier of iron ore pellets to the North American steel industry. Moelis & Company acted as financial advisor to Cliffs Natural Resources.
March 19, 2015
08:24 EDTCLFCliffs Natural says Bank of Nova Scotia files lawsuit against company
Cliffs Natural (CLF) said in a filing that as previously disclosed, on January 27, the company announced that Bloom Lake General Partner Limited and certain of its affiliates, including Cliffs Québec Iron Mining ULC commenced restructuring proceedings in Montreal, Québec, under the Companies’ Creditors Arrangement Act. Certain obligations of the Bloom Lake Group, including equipment loans, are guaranteed by the Company. On March 16, The Bank of Nova Scotia (BNS) filed a lawsuit in the U.S. District Court for the Northern District of Ohio, Eastern Division, against the company, asserting that the company breached its obligations under a guaranty of certain equipment loans pursuant to a Master Loan and Security Agreement, dated September 27, 2013, among certain members of the Bloom Lake Group and Key Equipment Finance Inc.. BNS is seeking an award of $52.6M plus unpaid accrued interest and expenses. Among other defenses to this litigation, the company is current in its payment obligations under the Equipment Loans.
08:24 EDTCLFJPMorgan pulls Cliffs target on 'relentless' iron ore price slide
Subscribe for More Information
March 18, 2015
16:00 EDTCLFOptions Update; March 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.20 to 26.10. Option volume leaders: AAPL RAD PBR TWTR FB TSLA CLF BP MGM according to Track Data.
07:10 EDTCLFPlatts to hold a forum
11th Annual Steel Markets North America is being held in Chicago on March 17-18.
05:52 EDTQCOMQualcomm to play larger role for China smartphone production, DigiTimes says
Subscribe for More Information
March 16, 2015
06:09 EDTQCOMStocks with implied volatility below IV index mean; CSCO QCOM
Subscribe for More Information
March 12, 2015
10:06 EDTQCOMQualcomm could lose 'important part' of Apple business, The Information says
Qualcomm (QCOM) could lose "an important part" of its business at Apple (AAPL) to new component makers and Intel (INTC), said The Information's Amir Efrati. Reference Link
07:13 EDTMDRUBS to hold a conference
Subscribe for More Information
06:08 EDTQCOMStocks with implied volatility below IV index mean; AMZN QCOM
Subscribe for More Information

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