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Stock Market & Financial Investment News

News Breaks
July 31, 2014
12:29 EDTTMUS, LLL, AVP, ILIAF, LPSN, OTEX, WFM, GE, SYF, S, EDAPOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday, following the lead of international markets that were also lower overnight after Argentina defaulted on its debt. The averages, which opened deep in the red, took another leg lower shortly after the open when the Chicago Purchasing Manager’s Index came out well below expectations with a reading of 52.6, versus a 63.0 forecast. The Argentinian default and the U.S. data, coupled with concerns over the Fed tightening its monetary policy sooner than expected, have pushed buyers to the sidelines ahead of tomorrow’s monthly jobs report. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 23K to 302K in the week ended July 26 from a revised 279K figure for the prior week. The Chicago PMI dropped a surprising 10 points to 52.6 in July, making for its lowest print since June of 2013. Internationally, Argentina failed to head off its second default in the past 13 years, sending its stock and bond markets sharply lower and causing ripples throughout global debt and equity markets. COMPANY NEWS: Shares of T-Mobile (TMUS) gained 5% after the company reported second quarter results that beat expectations and The Wall Street Journal reported that French mobile carrier Iliad (ILIAF) has made an offer to acquire the company. Following that report, Sprint (S), which has been widely seen as the most logical buyer of T-Mobile, fell nearly 4%... Shares of Synchrony Financial (SYF), the North American Retail Finance business of GE Capital (GE) that is being spun off from the parent company, began trading on the New York Stock Exchange. 125M Synchrony shares priced at $23.00 per share and began trading at $23.00 per share. General Electric Chairman and CEO Jeff Immelt stated afterward that the industrial giant continues to target completing its exit in late 2015 through a capital-efficient split-off transaction. MAJOR MOVERS: Among the notable gainers were Open Text (OTEX), which rose 15%, and LivePerson (LPSN), which gained 18%, after both reported better than expected results and both were upgraded this morning at Credit Suisse. Also rising following their earnings reports were Avon (AVP), which advanced 3.7%, and Allstate (ALL), which moved 4.4% higher. Among the noteworthy losers was Whole Foods Market (WFM), which sunk 3% after the company cut its full-year guidance. Also lower was L-3 Communications (LLL), which dropped 16% and was downgraded to Hold from Buy at Drexel Hamilton after the company cuts its FY14 EPS outlook. Another loser in today's market was EDAP TMS (EDAP), which plunged 43% after an FDA panel voted against recommending approval for its Ablatherm-HIFU device. INDEXES: Near midday, the Dow was down 231.85, or 1.37%, to 16,648.51, the Nasdaq was down 88.96, or 1.99%, to 4,373.94, and the S&P 500 was down 32.24, or 1.64%, to 1,937.83.
News For TMUS;S;SYF;GE;WFM;OTEX;LPSN;ILIAF;AVP;LLL;EDAP From The Last 14 Days
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September 9, 2014
05:16 EDTS, TMUSSprint announces improved phone-trade in program, price match guarantee
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September 8, 2014
17:25 EDTAVPBaker Hughes names Kimberly Ross CFO
Baker Hughes (BHI) announced that Kimberly A. Ross, has been appointed senior vice president and CFO effective October 22. Ross currently serves as executive vice president and CFO of Avon Products (AVP).
17:19 EDTAVPAvon Products announces CFO Kimberly Ross resigns, effective October 2
Avon Products announced that Kimberly Ross, Executive Vice President and CFO, has resigned effective October 2. Ross joined Avon in 2011. Robert Loughran, Vice President and Corporate Controller, will be appointed Avon's acting CFO effective October 2, while the company completes the search process for a permanent CFO.
13:58 EDTWFMWhole Foods announces partnership with Instacart
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12:57 EDTSSprint management to meet with Jefferies
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12:18 EDTGEOn The Fly: Midday Wrap
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11:04 EDTGEGeneral Electric to host investor meeting
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10:06 EDTLLLOn The Fly: Analyst Upgrade Summary
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09:23 EDTOTEXOpen Text names John Doolittle as CFO
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09:02 EDTLPSNLivePerson announces three year agreement with Digital Insight
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08:18 EDTGEElectrolux sees GE Appliances transaction accretive to EPS in year one
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08:03 EDTGEGeneral Electric, Accenture launch Intelligent Pipeline Solution
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07:30 EDTLLLL-3 Communications upgraded to Outperform from Perform at Oppenheimer
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06:36 EDTLLLL-3 Communications upgraded to Outperform from Perform at Oppenheimer
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06:25 EDTGEAlstom unit accused of bribing officials EUR6M to win contracts, FT reports
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05:32 EDTGEGeneral Electric to sell appliances business to Electrolux AB for $3.3B
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05:29 EDTGEGeneral Electric to sell appliances business to Electrolux AB for $3.3B
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September 7, 2014
20:37 EDTS, TMUSApple's new iPhones face risk as carriers begin subsidy phase out, WSJ says
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16:11 EDTTMUST-Mobile files suit against China's Huawei , Re/code says
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15:52 EDTGEGE's oil and gas unit set to outpace industry growth, Reuters says
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