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Stock Market & Financial Investment News

News Breaks
July 11, 2014
16:22 EDTSFTBF, RKUS, RAI, S, FAST, AMZN, LO, DTEGY, RCII, WFC, TMUSOn The Fly: Closing Wrap
Stocks on Wall Street were higher today, but were still lower for the week, as concerns in Europe have come back to the forefront of investors' minds. Today's modest bounce was not enough to make up for the declines seen in three of the other four sessions earlier in the week. ECONOMIC EVENTS: In the U.S., the June federal budget statement showed a surplus of $70.5B for the month, compared to analysts' forecast for a $79B surplus. COMPANY NEWS: Shares of Wells Fargo (WFC) slipped 32c, or 0.62%, to $51.49 after the largest mortgage lender in the U.S. posted earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard (LO) advanced $2.92, or 4.63%, to $66.01, while Reynolds American fell 51c, or 0.82%, to $61.75, after the two cigarette makers confirmed that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks... In another update to an ongoing M&A story, Japan's Nikkei reported that Sprint's (S) corporate parent, Softbank (SFTBF), has reached an agreement to acquire T-Mobile (TMUS) from Deutsche Telecom (DTEGY), clearing the way for the long-speculated merger between the third and fourth largest wireless carriers in the U.S. Following the new story, Sprint shares finished the day up 30c, or 3.64%, to $8.55, while T-Mobile rose 62c, or 1.89%, to $33.50. MAJOR MOVERS: Among the notable gainers was Ruckus Wireless (RKUS), which advanced 87c, or 7.9%, to $11.88 after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Also higher was Amazon.com (AMZN), which climbed $18.28, or 5.57%, to $346.20 after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Among the noteworthy losers was Rent-A-Center (RCII), which dropped $3.18, or 10.94%, to $25.88 after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower were shares of industrial and construction supply retailer Fastenal (FAST), which fell $2.00, or 4.16%, to $46.15 after its Q2 revenue missed analysts' consensus view and the company reported plans to close 45 stores. INDEXES: The Dow was up 28.74, or 0.17%, to 16,943.81, the Nasdaq was up 19.29, or 0.44%, to 4,415.49, and the S&P 500 was up 2.83, or 0.14%, to 1,967.51.
News For S;TMUS;LO;RAI;WFC;AMZN;RKUS;RCII;FAST;SFTBF;DTEGY From The Last 14 Days
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August 24, 2015
14:52 EDTAMZNAmazon.com fades, levels to watch
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12:26 EDTWFCAvolon Capital acquires Airbus A321-200 aircraft on lease to Vueling Airlines
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10:58 EDTAMZNStocks with call strike movement; AMZN TWTR
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10:02 EDTAMZNAmazon.com levels to watch
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09:45 EDTFASTOn The Fly: Analyst Downgrade Summary
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08:51 EDTSFTBFNetflix confirms partnership with SoftBank ahead of Japan launch
SoftBank Corp (SFTBF) and Netflix (NFLX) confirmed that SoftBank, among Japanese telecommunications companies, will exclusively offer a fully integrated Netflix experience, including billing, when Netflix Japan launches on September 2. Under the agreement, SoftBank customers will be able to sign up for Netflix at SoftBank Shops, major electronics retailers, via the SoftBank website and via SoftBank call centers without filling out payment information, with Netflix's monthly fee added to their bill. In addition, SoftBank will begin pre-installing the Netflix app on its smartphones for sale after October 2015.
07:01 EDTWFCWells Fargo volatility at high end of range
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06:59 EDTFASTFastenal downgraded to Neutral from Outperform at Baird
Baird downgraded Fastenal to Neutral from Outperform as US economic trends are progressively later-cycle, raising overall risk profiles for distributors with industrial exposure. Baird lowered its price target to $44 from $45 on Fastenal shares.
06:34 EDTAMZNIntel leads $100M funding round for Mirantis, WSJ reports
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06:27 EDTAMZNRoku tops Google in streaming media device sales, Parks Associates says
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06:17 EDTRAITobacco groups consolidate brands to maintain customers, WSJ reports
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06:08 EDTAMZNAmazon keeps pushing back Prime Fresh trial end date, Re/code reports
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06:07 EDTSFTBFNetflix partners with SoftBank ahead of Japan launch, Japan Times reports
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August 23, 2015
18:44 EDTAMZNACLU offers legal representation to Amazon employees
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August 21, 2015
16:34 EDTAMZNMarket enters correction territory in worst week in four years
For the week, stocks plummeted amid concerns about a slowing Chinese economy and declining oil prices. MACRO NEWS: Monday, the Empire State manufacturing index crashed to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009... Meanwhile, the NAHB homebuilder sentiment index rose to 61 in August from 60 in June, matching consensus estimates... Tuesday, July housing starts edged up 0.2% to 1.206M, beating consensus estimates for 1.180M in the best reading since October 2007. Building permits, however, fell 16.3% to 1.119M against expectations for 1.230M, while single family starts rose 12.8% and multifamily numbers fell 17.0%... Wednesday, the July consumer price index edged up 0.1% against expectations for 0.2% reading. The core reading, which excludes food and energy, also came in at 0.1% versus consensus estimates of 0.2%... Meanwhile, FOMC minutes showed no definitive indication of a September rate hike... Thursday, initial jobless claims rose to 277,000 from a revised 273,000, bringing the 4-week moving average to 271,500... The Philadelphia Fed index rose 2.6 points to 8.3 in August, beating expectations for a 7.5 reading... Friday, the PMI Manufacturing Index Flash for August came in at a level of 52.9, below the prior level of 53.8 and the consensus level of 54.2. COMPANY NEWS: Monday, Liberty Interactive (QVCA) announced an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B. The acquisition will be attributed to Liberty's QVC tracking stock, though the companies specified that QVC and zulily will operate as separate brands... Amazon (AMZN) founder and CEO Jeff Bezos downplayed a recent New York Times critique of the company's workplace practices, telling employees in an email that "the article doesn't describe the Amazon I know or the caring Amazonians I work with every day..." Tuesday, Wal-Mart (WMT) cut its full year earnings outlook, with company executives on a subsequent conference call expressing confidence in China but noting that Brazil and U.K. remain challenging markets for the company... Wednesday, Seagate Technology (STX) agreed to acquire Dot Hill Systems (HILL) for $9.75 per share, noting that it expects the deal to be non-GAAP EPS accretive in fiscal 2016... Thursday, Valeant (VRX) agreed to acquire Sprout Pharmaceuticals for roughly $1B in cash plus a profit-sharing agreement, adding that it expects to bring the company's recently-approved female sexual dysfunction drug Addyi to the U.S. by Q4... Friday, Steiner Leisure (STNR) entered into a definitive merger agreement where an affiliate of Catterton will acquire all of the outstanding shares of Steiner for $65 per share in cash. INDEXES: For the week, the Dow lost about 5.79% to close at 16,459.75, the Nasdaq declined about 6.71% to close at 4,706.04, and the S&P 500 fell about 5.73% to close at 1,970.89.
16:01 EDTAMZNOptions Update; August 21, 2015
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13:50 EDTAMZNOn The Fly: Weekly technical notes, Gold, S&P 500, Germany, China, Energy
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11:38 EDTAMZNAmazon.com heads back toward session lows
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11:13 EDTAMZNStocks with call strike movement; AMZN TWTR
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11:12 EDTAMZNQualcomm reportedly to enter consumer drone market
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