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Stock Market & Financial Investment News

News Breaks
April 12, 2012
12:11 EDTSNE, MKTX, AVID, CSCO, FIO, TSCO, CAH, ABC, MCK, HPQ, BLKOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, despite a larger than expected increase in weekly jobless claims. The market opened relatively quietly following the release of a number of economic data points. The averages drifted for the opening minutes but then gained upside momentum. The move higher stalled after the averages had gains of roughly 0.5%, then stocks resumed their march higher, with all of the major averages up more that 1.0% near noon... ECONOMIC EVENTS: Domestically, 380K initial jobless claims were filed last week, versus the expected 355K. 3.25M continuing claims were reported, versus the expected 3.33M. Producer prices for the month of March were flat, versus the expected increase of 0.3%. The core PPI reading, however, rose 0.3%, versus the expected increase of 0.2%. The trade balance report showed a deficit of $46.0B, versus expectations for a deficit of $51.8B. Also, Fed Vice Chairwoman Janet Yellen made comments last night that the Fed might need to take additional action to bolster the economy if the unemployment rate does not come down. Internationally, Italy's short-term borrowing costs rose at auction, adding to fears that the calming effect of cheap ECB cash is fading... COMPANY NEWS: Sony (SNE) confirmed it plans to cut approximately 10,000 jobs in FY12 as it reorganizes to grow its electronics business to complement its stable entertainment and financial service businesses. Sony said it is positioning digital imaging, games and mobile as the three main focuses of its electronics division and it is making deep cuts in the costs and number of offerings in its television business. Investors were apparently not particularly moved by the announcements, as shares were up 2c, or 0.11%, to $18.77... Researchers Gartner and IDC both indicated that global shipments of personal computers rose in Q1 and Hewlett-Packard (HPQ) remained the top PC maker by volume, pushing H-P's shares up 6.25% near noon... MAJOR MOVERS: Among the notable gainers were McKesson (MCK), up 4%, after the company beat out AmerisourceBergen (ABC) and Cardinal Health (CAH) to retain its Department of Veterans Affairs contract, Tractor Supply (TSCO), up almost 6%, after the company raised its 2012 guidance on expectations for a strong first quarter, Fusion-io (FIO), up more than 12%, following a note to investors from Piper Jaffray which said it believes the company is working on a new original equipment manufacturer deal with Cisco (CSCO). Noteworthy losers included Avid Technology (AVID), down over 14%, after the company said it expects to post a Q1 loss on revenues that will be down compared to last year, and MarketAxess (MKTX), down more than 4%, following a Wall Street Journal report that BlackRock (BLK) intends to launch its own trading platform that would let money managers trade bonds directly with each other... INDICES: Near noon, the Dow was up 142.14, or 1.11%, to 12,947.53; the Nasdaq was up 34.78, or 1.15%, to 3,051.24; and the S&P 500 was up 14.37, or 1.05%, to 1,383.08.
News For SNE;HPQ;MCK;ABC;CAH;TSCO;FIO;CSCO;AVID;MKTX;BLK From The Last 14 Days
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October 15, 2014
09:04 EDTBLKBlackRock CEO expects market volatility to continue
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08:15 EDTHPQHP resumes buyback with EMC merger talks reportedly over
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08:08 EDTHPQHP up 1% to $32.60 after resuming buyback, reaffirming outlook
08:07 EDTHPQHP reaffirms outlook for FY14, FY15
HP reaffirms its FY14 estimate of non-GAAP EPS to be in the range of $3.70-$3.74, which excludes after-tax costs of approximately $1.10 per share, related primarily to restructuring charges and amortization of intangible assets. The consensus estimate is $3.73. For FY15, HP reaffirms its estimate of non-GAAP EPS to be in the range of $3.83-$4.03, which excludes after-tax costs of approximately 60c per share, related primarily to amortization of intangible assets and restructuring charges. The consensus estimate is $3.94. HP reaffirms its FY15 operating cash flow outlook of $10B-$10.5B, with free cash flow of $6.5B-$7B.
08:04 EDTHPQHP resumes share repurchase program under current authorization
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08:03 EDTHPQHP announces resumption of share buyback program
06:32 EDTHPQTablet supply chains expect lagging orders in Q4, DigiTimes reports
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06:18 EDTBLKBlackRock reports Q3 AUM growth of 10%
Reports Q3 long-term net informs of $28.7B. Reports Q3 operating margin of 40.6%.
06:17 EDTBLKBlackRock reports Q3 adjusted EPS $5.21, consensus $4.66
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06:15 EDTCSCOCisco lays off 900 in San Jose area, Silicon Valley Business Journal says
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06:14 EDTHPQHP, EMC halt merger agreement discussions, Reuters says
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October 14, 2014
15:29 EDTBLKNotable companies reporting before tomorrow's open
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07:47 EDTHPQHP awarded $50M Medicaid contract extension by Massachusetts
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October 13, 2014
11:46 EDTHPQHP nears six-month lows, levels to watch
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09:23 EDTHPQHP could buy lower valuation company, says Bernstein
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09:21 EDTHPQOn The Fly: Pre-market Movers
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07:37 EDTCAH, MCKAmerican Society of Anesthesiologists to hold annual meeting
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07:22 EDTSNESony/ATV could ditch licensing firms due to streaming dollars, NY Post reports
Sony/ATV Music Publishing (SNE) is considering no longer dealing with performance rights groups BMI and ASCP, and instead negotiating directly with online music services like Pandora (P), YouTube (GOOG) and Spotify due to outdated rules and low royalties, the New York Post reports. Reference Link
06:37 EDTBLKBlackRock, Morgan Stanley to buy shares in Link Net, WSJ reports
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October 12, 2014
17:20 EDTCSCOGE, Splunk, Cisco, others could benefit from Internet of Things, Barron's says
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