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Stock Market & Financial Investment News

News Breaks
February 14, 2013
16:27 EDTHSP, CSCO, BRK.A, LCC, CTL, GM, HNZ, BUD, Z, PEP, AAMRQ, STZOn The Fly: Closing Wrap
Stocks on Wall Street were mixed after weekly U.S. jobless claims, global economic data, and a number of M&A announcements sent the market mixed signals. The averages spent much of the session drifting in a narrow range, with the Dow the only major average unable to cross back into positive ground at the close... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell 27K from the prior week to 341K, versus expectations for 360K claims. In Europe, the euro zone's 0.6% contraction in gross domestic product in the fourth quarter was the steepest for the bloc since early 2009. In Asia, Japanís real gross domestic product contracted for the third straight quarter, shrinking 0.1% in the final three months of last year... COMPANY NEWS: M&A dominated the day's headlines. Anhesuer-Busch InBev (BUD) and Constellation Brands (STZ) announced that the terms of their deal had been revised, granting Constellation perpetual rights to distribute Corona and other Modelo brands in the U.S. Shares of Constellation gained $11.87, or 37.23%, to $43.75 after the news. AB InBev shares also gained $4.50, or 5.1%, to $92.76 as Constellation CEO Rob Sands said on a conference call he believes this revised agreement should satisfy competitive concerns raised by the lawsuit brought by Department of Justice... The long-anticipated merger between bankrupt American Airlines parent AMR Corp. (AAMRQ) and US Airways (LCC) was finalized, creating the world's largest airline. AMR's creditors will own a 72% stake in the new airline, while US Airways will hold the other 28%. Shares of US Airways, which have run-up in anticipation of this deal, fell 67c, or 4.57%, to $13.99 following the news... Warren Buffet's Berkshire Hathaway (BRK.A), along with partner 3G Capital, agreed to buy H.J. Heinz (HNZ) for $72.50 per share, a 20% premium over Heinz's closing price on Wednesday. Heinz shares gained $12.02, or 19.87%, to $72.50, while Berkshire class A shares rose 1.01% to $149,240... MAJOR MOVERS: Among major companies reporting earnings, PepsiCo (PEP) gained 78c, or 1.09%, to $72.28, General Motors (GM) lost 92c, or 3.21%, to $27.75, and Dow member Cisco (CSCO) lost 14c, or 0.66%, to $21.00. Another notable gainers was Zillow (Z), which rose $3.33, or 8.55%, to $42.30 after the company's Q4 report beat estimates, the company announced a search agreement with Google (GOOG), and Citigroup raised its price target on shares to $50 from $35. A noteworthy loser was CenturyLink (CTL), which fell $9.42, or 22.6%, to $32.27 after the company announced Q4 results, cut its dividend, and the stock was downgraded by at least six analyst firms. Also lower were shares of Hospira (HSP), down $2.60, or 7.96%, to $30.05 after the company withdrew its 2013 guidance after the FDA expanded the Symbiq import alert originally issued in November of last year... INDICES: The Dow was down 9.52, or 0.07%, to 13,973.39; the Nasdaq was up 1.78, or 0.06%, to 3,198.66; and the S&P 500 was up 1.05, or 0.07%, to 1,521.38.
News For A;PEP;GM;CSCO;Z;CTL;HSP From The Last 14 Days
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February 2, 2016
12:22 EDTGMEarnings Watch: Analysts positive on General Motors ahead of Q4 report
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12:03 EDTGMOn The Fly: Top stock stories at midday
Wall Street began the session in negative territory and the averages have remained there throughout the day as oil once again weighs on stocks. The price of oil has slid another 4%, giving the commodity a roughly 10% loss over the past two trading sessions. The market's late day rally yesterday gave hope for a decoupling between equities and oil prices, but that appears to be a one day reprieve as the stocks are back in lock-step with crude prices. ECONOMIC EVENTS: In the U.S., the economic calendar was quiet. In Europe, statistics agency Eurostat reported that unemployment across the eurozone decreased by 49,000 to a total of 16.75M in December dropping the unemployment rate to its lowest since September 2011 at 10.4%. In central bank news, the Reserve Bank of Australia and Reserve Bank of India both held their benchmark interest rates steady, as expected. COMPANY NEWS: Class A shares of Alphabet (GOOGL) advanced 5% in the wake of its report of better than expected quarterly earnings and revenue, pushing Google's parent company to overtake Apple (AAPL) as the world's most valuable publicly-traded company in the process... Exxon Mobil (XOM) reported better than expected revenue and profits in the fourth quarter, but its shares slid 2.5% amid the renewed weakness in oil prices. Shares of fellow oil major BP (BP) plunged 8% in New York trading after reporting a steep quarterly loss, largely due to $2.6B in charges related to impairments of Upstream assets as well as restructuring... Pfizer (PFE) reported better than expected fourth quarter results, but forecast 2016 revenue and earnings below analysts' estimates, pushing its shares down fractionally. MAJOR MOVERS: Among the notable gainers was Syngenta (SYT), which rallied 4.5% after Bloomberg reported that ChemChina was close to a deal to buy the company for nearly $43B. Also higher were Mattel (MAT), Michael Kors (KORS), and Fabrinet (FN), which gained 12%, 22%, and 12.5%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Twitter (TWTR), which fell 8% after it was downgraded to Sell at Stifel and following a report claimed that tweets on the service are down 50% from their peak. Also lower were AGCO (AGCO), Harris (HRS), and Pitney Bowes (PBI), which were down 10%, 9.5%, and 11%, respectively, after reporting quarterly earnings. In addition, Ford (F) and General Motors (GM) lost 4% and 3.6%, respectively, after reporting U.S. sales for the month of January. INDEXES: Near midday, the Dow was down 239.86, or 1.46%, to 16,209.32, the Nasdaq was down 64.83, or 1.4%, to 4,555.54, and the S&P 500 was down 27.87, or 1.44%, to 1,911.51.
10:26 EDTCSCOFireEye calls active
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10:18 EDTCSCOCisco could be interested in FireEye, dealReporter says citing sources
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09:34 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
General Motors said dealers in the United States delivered 203,745 vehicles in January, up 0.5% compared to last year. GM's retail sales rose 9%. The carmaker estimates that the seasonally adjusted annual selling rate for light vehicles in January was 17.5M units. GM ended the month with 74 days supply, or 629,878 vehicles, compared to 630,950 units at the previous month end. GM said, "We believe industry fundamentals such as the age of the vehicle fleet, well managed inventory levels, firm used car pricing, good credit availability and low fuel prices will support higher industry sales in 2016."
09:31 EDTGMGM reports January U.S. sales up 0.5% to 203,745 vehicles
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07:09 EDTGMTrueCar projects U.S. revenue from new vehicle sales reached $38B in January
TrueCar projects U.S. revenue from new vehicle sales reached a record high for the month of January of $38 billion, up 1.4 percent from a year ago. January marked the auto industry's 25th consecutive month of year over year revenue expansion. Higher average transaction prices helped automakers post a $520 million gain in revenue versus January 2015, despite a likely increase in incentive spending and somewhat lower sales compared with a year ago. As previously announced, TrueCar projects sales of new cars and light trucks contracted 0.3 percent last month. Publicly traded companies in the space include Daimler AG (DDAIF), Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY).
06:28 EDTGMGM waiting on credit from investors, WSJ says
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February 1, 2016
19:38 EDTZZillow CEO hunting for real estate websites, software makers, PSBJ says
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18:46 EDTGMAutomakers hit with additional costs due to China regulatory shift, Reuters says
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10:02 EDTGMGeneral Motors volatility elevated into Q4 and outlook
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January 29, 2016
11:02 EDTPEPPepsiCo unveils new hospitality venture with launch of Kola House
Pepsi (PEP) announces its plans to launch Kola House, the first experimental kola bar, restaurant, lounge and event space to open in the U.S. market. This first-of-its-kind hospitality venture is set to open its doors in spring 2016, with its flagship location in New York City's Meatpacking District. The flagship location will also serve as an event space for pop culture moments in music, art, style, film, sports and more. Pepsi is leveraging its partnership with Live Nation (LYV) to help build out a special music series, Live at the Kola House, which will serve as tent pole moments throughout its year-long programming. Each of the intimate, stripped down performances will bring fans up-close to the artists both visually and acoustically for the once-in-a-lifetime shows.
06:07 EDTPEPPepsi making foray into restaurant business with Kola House, NY Times says
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January 28, 2016
16:50 EDTCSCOCisco says Chief Development Officer Pankaj Patel to step down
Cisco disclosed in a regulatory filing that, on January 25, Pankaj Patel, EVP and Chief Development Officer, Global Engineering of Cisco Systems notified the company of his decision to step down from his current position during 2H16.
12:32 EDTGMGM, Lithia Motors settle FTC actions alleging inadequate car inspection programs
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06:09 EDTGMGM's Opel unit, watchdog recalling undisclosed number of models, Reuters reports
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January 27, 2016
11:12 EDTGMMissouri Supreme Court affirms St. Louis venue for GM ignition switch cases
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09:29 EDTCSCOFacebook data center project supported by telco heavyweights, FT reports
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09:04 EDTCTLCenturyLink wins DISA network fair opportunity awards for up to $10M
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08:56 EDTCSCOEMC CEO says 'very committed' to partnership with Cisco
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