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Stock Market & Financial Investment News

News Breaks
January 4, 2013
16:35 EDTSVU, FINL, APKT, LCC, AAMRQ, ARAY, SIMGOn The Fly: Closing Wrap
Stocks on Wall Street finished higher on the day, with the S&P 500 closing at its highest level since December 2007. Stocks opened the session mixed after a monthly jobs report that was in-line with expectations, but gained steadily through the session, with the averages hitting their highs during the final hour of trading, with the S&P and Dow finishing just off those levels... ECONOMIC EVENTS: In the U.S., the Labor Department said employers added 155,000 jobs in December, which was about in-line with estimates and near the average pace of job growth over the last year. The unemployment rate for November was upwardly revised to 7.8% and the Labor Department said the 7.8% rate carried over to December as well. Factory orders were flat in November, versus expectations for them to increase 0.4%. The December ISM non-manufacturing index, which measures services sector expansion or contraction, came in at 56.1, versus expectations for a 54.1 reading. Reports from the Energy Information Administration showed inventories of crude oil and natural gas both drew down more than expected last week... COMPANY NEWS: Supervalu (SVU) spiked higher following headlines from Dow Jones that said the company was close to a deal with private equity firm Cerberus Capital, and shares finished the day up 35c, or 13.51%, to $2.94... Finish Line (FINL) reported a break-even quarter and lowered its Q4 and FY12 outlooks, disappointing the Street and prompting downgrades from at least four analyst firms. Shares of Finish Line lost $1.58, or 8.30%, to $17.46 on the day... MAJOR MOVERS: Among notable gainers were shares of Acme Packet (APKT), up $2.56, or 11.97%, to $23.94 after the stock was upgraded to Buy from Hold at Stifel Nicolaus with the firm putting a $27 price target on shares. Also higher were shares of US Airways (LCC), up $1.07, or 7.83%, to $14.73 after the airline reported December traffic results and following a Wall Street Journal report last night that said AMR Corp. (AAMRQ) is close to finishing its evaluation of a proposed merger with the airline. Among the noteworthy losers were Accuray (ARAY), down $1.37, or 20.23%, to $5.41 following a downgrade to Underweight at JPMorgan after the company's negative Q2 pre-announcement. Also lower were shares of Silicon Image (SIMG), down 56c, or 10.85%, to $4.60 after the company cut its Q4 revenue view to $59M-$60M from $64M-$67M... INDICES: The Dow was up 43.85, or 0.33%, to 13,435.21; the Nasdaq was up 1.09, or 0.04%, to 3,101.66; the S&P 500 was up 7.10, or 0.49%, to 1,466.47.
News For SVU;FINL;APKT;LCC;AAMRQ;ARAY;SIMG From The Last 14 Days
Check below for free stories on SVU;FINL;APKT;LCC;AAMRQ;ARAY;SIMG the last two weeks.
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August 29, 2014
07:47 EDTARAYAccuray weakness a buying opportunity, says Brean Capital
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August 25, 2014
06:19 EDTSVUU.S. DHS warns of 'Backoff' malware, WSJ reports
The Department of Homeland Security is urging all companies to check for a "Backoff" malware infection, which targets cash registers, and said over 1,000 businesses in the U.S. have been affected by the cyberattack, the Wall Street Journal reports. The DHS said Friday that the malware has likely infected many victims who "aren't aware" that they have been compromised. Reference Link
August 22, 2014
10:48 EDTFINLFoot Locker jumps after earnings beat expectations
Shares of shoe and apparel retailer Foot Locker (FL) are higher after the company reported second quarter earnings which exceeded analysts' expectations. WHAT'S NEW: Foot Locker reported Q2 adjusted earnings per share of 64c, which surpassed analysts' consensus of 54c. The company's Q2 revenue was $1.64B, which was higher than analysts' consensus of$1.57B. Foot Locker's same-store-sales increased 7% and its gross margin rate was up 32% for the quarter. WHAT'S NOTABLE: During the company's conference call, Foot Locker said third quarter comparable sales are positioned to experience mid-single digit gains. The company noted that it is making "good progress" on maintaining a "solid" flow of inventory and its inventory overall is well-positioned for the upcoming back-to-school and fall seasons. Foot Locker is still on-track to close just over 100 stores this year, but some closures are expected to happen at the beginning of FY15. The retailer is projecting to open 80 stores this year mostly in Europe and Kids Foot Locker, which is an increase from the company's initial projection of opening 60 stores. A high-single digit comparable sales gain has been experienced by the company so far in August. It anticipates a SG&A improvement of 30-40 basis points and gross margins to be up 20-40 basis points in Q3. ANALYST OPINION: Two days ago, Canaccord said that they were positive on Foot Locker prior to Q2 earnings results since they foresaw the results to be "solid." The firm felt that the retailer was "well-positioned" to still benefit from its target of expanding toward casual athletic footwear. The firm maintained a $56 price target on Foot Locker with a Buy rating. Yesterday, UBS increased its price target on Foot Locker to $58 from $54 right before the retailer announced its Q2 results. The firm anticipated higher than expected earnings, positive SSS trends and the potential for increased guidance and valuation. UBS kept Foot Locker with a Buy rating. OTHERS TO WATCH: Foot Locker competitor Finish Line (FINL) is scheduled to report its Q2 quarter earnings on September 25. PRICE ACTION: During morning trading, Foot Locker shares rose $1.60 or just over 3%, to $54.17, and Finish Line shares rose 19c, or 0.65%, to $29.62.
August 21, 2014
16:13 EDTARAYAccuray sees FY14 revenue $390M-$410M, consensus 359.52M
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16:11 EDTARAYAccuray reports Q4 EPS (13c), consensus (7c)
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