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Stock Market & Financial Investment News

News Breaks
October 15, 2012
12:31 EDTS, CLWR, SFTBF, C, YONG, AEGR, DCTH, AMED, HUMOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday following a report that showed surprisingly strong retail sales in September. The averages started out slightly higher and seemed to have trouble gaining any upside momentum in the early hours of trading. The reaction to the better than expected retails sales figures seemed to be muted by the disappointing Empire manufacturing data. Following the report on August business inventories the averages actually crossed into negative territory, before reversing and drifting higher. The averages stood near session highs around noon as this week begins more positively for the markets than last week... ECONOMIC EVENTS: In the U.S., retail sales rose 1.1% in September, versus expectations for an increase of 0.8%. The core reading, minus auto and gas components, increased 0.9%, versus expectations for a 0.4% gain. The Empire Manufacturing Index had a reading of -6.16, versus expectations for a reading of -4.0. Business inventories reportedly increased 0.6% in August, versus expectations for an increase of 0.5%. In China, a raft of data was reported over the weekend, including better than expected export numbers. Chinese export growth accelerated to 9.9% and import growth accelerated to 2.4%, but some irregularities kept investors and analysts cautious about the results. Also, China's consumer-price index eased in line with expectations and a gauge of producer prices showed a steepening drop, fueling speculation that the government may take further monetary stimulus action... COMPANY NEWS: Japan's SoftBank (SFTBF) confirmed a deal to purchase a 70% stake in Sprint (S) for about $20B. Shares of Sprint were down fractionally after the details of the previously speculated arrangement were publicized. However, moving up again were shares of Sprint partner Clearwire (CLWR), which rose 11% though Sprint CEO Dan Hesse said he would not speculate on what Sprint will do with its new-found financial flexibility... Shares of Citigroup (C) jumped nearly 5% as its third quarter earnings beat expectations after its write down of the value of its remaining stake in Smith Barney and some other adjustments were excluded... MAJOR MOVERS: Among the notable gainers were Yongye International (YONG), up 17% following its receipt of "going private" proposal at $6.60 per share, and Aegerion Pharmaceuticals (AEGR), up 9% after the FDA posted briefing documents for a panel's upcoming review of one of the company's drugs. Among the noteworthy losers was Delcath Systems (DCTH), down over 18% after the FDA accepted the company's New Drug Application for its chemosaturation system and designated the NDA for standard review. Also lower were shares of Amedisys (AMED), down 9% after the company signed a new agreement with Humana (HUM) to provide home health services but under a revised reimbursement scheme from their prior arrangement... INDICES: Near noon, the Dow was up 67.40, or 0.51%, to 13,396.25; the Nasdaq was up 9.07, or 0.30%, to 3,053.18; and the S&P 500 was up 6.88, or 0.48%, to 1,435.47.
News For S;CLWR;SFTBF;C;YONG;AEGR;DCTH;AMED;HUM From The Last 14 Days
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August 21, 2014
11:49 EDTSSprint announces $60 per month unlimited wireless plan
Sprint (S) announces an unlimited wireless plan for $60. The plan provides consumers unlimited talk, text and data while on Sprint's network for $60 per month, a $20 savings compared to T-Mobile's (TMUS) $80 per month unlimited plan, the wireless carrier said. The Sprint $60 Unlimited Plan is available to both new and existing Sprint customers starting tomorrow, August 22. To qualify for the plan, customers must purchase their device through Sprint Easy Pay, pay full retail price or bring their own compatible device.
10:02 EDTCActive calls at CBOE; AAPL C HPQ
Active calls at CBOE; AAPL 8/22/14 100 & 100, C Jan 55, HPQ 8/29/14 36
06:43 EDTCRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
06:17 EDTCCitigroup looks to sell Japanese retail banking unit, Reuters says
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August 19, 2014
13:08 EDTCCitigroup tells appeals court Agentina banking license at risk, Reuters reports
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12:42 EDTSOn The Fly: Midday Wrap
The market opened higher as it extended its gains from yesterday. Better than expected economic data on housing and consumer prices, as well as easing geopolitical tensions, has helped aid investor optimism. The market drifted higher throughout the morning with the Dow leading the way, followed by the Nasdaq, which is now near fourteen-year highs. The S&P is mostly higher, with the telecom services group being the lone sector showing losses, down just fractionally. ECONOMIC EVENTS: Housing starts for July rose to an annualized pace of 1.093M units, up from 0.945M units in June, and beating expectations for 0.963M units... The Consumer Price Index increased 0.1% overall, matching expectations. Less food and energy, the CPI was up 0.1%, which was also in-line with the consensus forecast. COMPANY NEWS: Shares of home improvement retailer The Home Depot (HD) are up more than 6% after the company posted better than expected second quarter results and raised its full year profit outlook... Shares of Sprint (S) are down 4% after Jefferies lowered its price target for Sprint shares to $4, saying it continues to see downside to estimates. MAJOR MOVERS: Shares of Skilled Healthcare (SKH) are up more than 20% after combining with Genesis HealthCare In 100% stock deal... Shares of cosmetics and fragrance company Elizabeth Arden (RDEN) are down 24% after the company's fourth quarter results came in well below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 76.92, or 0.46%, to 16,915.66, the Nasdaq was up 12.96, or 0.29%, to 4,521.27, and the S&P 500 was up 8.49, or 0.43%, to 1,980.23.
12:14 EDTCCitigroup considers selling Japan retail-banking unit, WSJ reports
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07:39 EDTSSprint price target lowered to $4 from $7 at Jefferies
Jefferies lowered its price target for Sprint shares to $4 saying it continues to see downside to estimates. The firm expects a "muted response" to Sprint's new Family Pack pooled data plan and limited time promotion of waiving device access charges. It keeps an Underperform rating on the stock.
07:12 EDTSFCC looks into telecom special access line rates, Reuters says
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August 18, 2014
19:41 EDTSSprint CEO says regulators weren't set on industry consolidation, Bloomberg says
Sprint (S) recently dropped its bid seeking control of competitor T-Mobile (TMUS).
18:33 EDTSSprint introduces Sprint Family Share Pack data plan, doubles high-speed data
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18:04 EDTSSprint to offer $100/month 20GB shared data plan through 2015, Bloomberg reports
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16:00 EDTCOptions Update; August 18, 2014
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11:06 EDTS, SFTBFSoftBank chooses Sharp as low-cost smartphone partner, WSJ reports
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09:35 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
08:47 EDTSRaymond James to hold a summit
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06:47 EDTCU.S. banks consider Ireland fitting spot for EU divisions, FT says
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August 15, 2014
16:00 EDTCOptions Update; August 15, 2014
iPath S&P 500 VIX Short-Term Futures up 1c to 28.88. Option volume leaders: AAPL GILD NFLX PBR TWTR TSLA MNKD AMZN C according to Track Data.
14:56 EDTCCitigroup reports July credit loss 1.98% vs. 2.33% last month
Reports July delinquencies 1.51% vs. 1.43% last month.
06:15 EDTSSprint's new CEO to introduce 'disruptive' prices next week, Re/code reports
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