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July 31, 2014
12:29 EDTTMUS, AVP, OTEX, SYF, EDAP, ILIAF, WFM, S, LLL, LPSN, GEOn 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.
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September 28, 2015
10:20 EDTGEGE says to stop manufacturing gas engines in Waukesha, Wisconsin
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10:20 EDTGEGE confirms plans to build gas engine facility in Canada
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10:07 EDTGEGE to move 350 jobs to Canada from Wisconsin, Reuters reports
General Electric will move 350 jobs to Canada from Wisconsin as it shifts production of large, gas-powered engines, Reuters reports. GE has been unable to access financing from the U.S. Export-Import Bank, the report notes. GE is expected to invest $265M in a new manufacturing plant at a yet-to-be-determined Canadian location. Reference Link
10:03 EDTGEGeneral Electric to move 350 jobs to Canada from Wisconsin, DJ reports
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08:43 EDTGEPZU's Klesyk: GE may sell BPH this year, Reuters reports
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08:00 EDTWFMWhole Foods says to cut 1,500 jobs, or 1.6% of workforce, over 8 weeks
Whole Foods Market said in a regulatory filing that as part of its ongoing commitment to lower prices for its customers and invest in technology upgrades while improving its cost structure, the company will reduce a number of positions over the next eight weeks. The company estimates the net reduction to be approximately 1,500 jobs, which represents 1.6 percent of its workforce. It anticipates many of the reductions to be managed through natural attrition and expects a significant percentage of affected Team Members will find other jobs from the nearly 2,000 open positions across the company or via new jobs created from the more than 100 new stores in development.Whole Foods Market added over 9,000 new jobs in the past year and created nearly 35,000 over the past five years. "This is a very difficult decision, and we are committed to treating affected Team Members in a caring and respectful manner. We have offered them several options including transition pay, a generous severance, or the opportunity to apply for other jobs. In addition, we will pay these Team Members in full over the next eight weeks as they decide which option to choose." said Walter Robb, co-CEO of Whole Foods Market. "We believe this is an important step to evolve Whole Foods Market in a rapidly changing marketplace."
07:38 EDTGEBox to hold a user conference
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September 27, 2015
20:20 EDTSSprint says will not participate in 600 MHz spectrum auction
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September 25, 2015
09:50 EDTTMUSOn Track says reaches agreement in principle with T-Mobile to settle claims
On Track Innovations (OTIV) announced in a regulatory filing that on September 24, it notified the U.S. District Court, Southern District of New York, jointly with T-Mobile (TMUS) that the parties have reached an agreement in principle to settle both of the company's claims against T-Mobile and the parties requested from the Court a 30-days stay of all deadlines pending in both actions to negotiate the terms of a settlement agreement. The company expects that the net proceeds from the settlement with T-Mobile, if such settlement is reached, should not be significant and under Company's initial expectations.
September 24, 2015
19:03 EDTS, TMUSVerizon offers annual upgrade plan for iPhone users
In the wake of recent iPhone purchase plans announced by Sprint (S) and T-Mobile (TMUS), Verizon (VZ) announced that customers who purchase either the Apple (AAPL) iPhone 6s or iPhone 6s Plus with Verizon's Device Payment option will be eligible to get a new iPhone every year. "Yes, no more waiting for your contract to end... The new program allows you to turn in your phone and upgrade to a new iPhone every year," remarked the company. Verizon added that its customers will still have the option to pay off the phone without upgrading.
14:04 EDTSSprint CEO expects to have adequate supply of new iPhones, Re/code says
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12:34 EDTSSprint volatility at one-year high
Sprint October weekly call option implied volatility is at 78, October is at 71, November is at 72; compared to its 52-week range of 37 to 75, suggesting large price movement.
10:01 EDTTMUST-Mobile to provide greater Austin area with extended range LTE
T-Mobile confirmed its Extended Range LTE, or 700 MHz low band spectrum, which now carries T-Mobile's LTE signals both farther and deeper indoors, is now live throughout Austin. With a rapid deployment of a nationwide LTE footprint that reaches over 293M Americans, "Bat City" is now lit up with T-Mobile's best in-building coverage offering. T-Mobile has been rolling out truckloads of new spectrum that carries the LTE signal twice as far from towers, for a massive coverage expansion - plus it works four times better in buildings. In nine months, T-Mobile has aggressively rolled out airwaves known as 700 MHz in 170 major metro areas including cities such as Miami, Fresno and Houston, so you can use your compatible phone to get great 700 MHz coverage while visiting friends and family in those cities.
09:22 EDTS, TMUSSprint to offer iPhone 6s 16GB for $1 per month
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07:49 EDTGEGE reaches agreement with UKEF to access export financing for up to $12B
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06:50 EDTSYFAmerican Express price target lowered to $70 from $85 at Jefferies
Jefferies analyst John Hecht says that even with the recent selloff, shares of American Express do not offer "compelling rewards" at current levels. Hecht believes AmEx is nearing saturation in its core demographic, the highly-affluent consumer, and views the Costco (COST) loss as a "significant challenge to overcome." American Express remains the industry leader in terms of rewards, but the gap to competitors has narrowed, Hecht tells investors in a research note. The company faces "several discrete headwinds" over the coming quarters, the analyst concludes. He cut his price target for AmEx shares to $70 from $85 and keeps a Hold rating on the name. The credit card provider closed yesterday down 8c to $75.63. Hecht has Buy ratings on card peers Discover (DFS) and Synchrony Financial (SYF).
06:41 EDTGEGE likely to sell PE unit to France's Ardian, Bloomberg reports
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06:30 EDTTMUS, SAltice to aggressively expand presence with Cablevision buy, Variety says
Altice's (ATCEY) proposal to acquire Cablevision (CVC) is a signal that Altice founder Patrick Drahi intends to extend his vision across the Atlantic, Variety says. Altice may just be getting started when it comes to shopping for U.S. media assets, and has already snatched some $40B worth of cable, wireless and telecom assets over the past two years, the report says. There's talk of Altice also going after a wireless firm such as Sprint (S) or T-Mobile (TMUS) to further its strategy for growth, the report says. Reference Link
September 23, 2015
09:24 EDTTMUST-Mobile announces $5 per month offer on iPhone 6s
On the cusp of iPhone 6s and iPhone 6s Plus availability, T-Mobile unveiled a $5 a month for iPhone 6s 16GB and $9 a month for iPhone 6s Plus 16GB with JUMP! On Demand and trade-in of an iPhone 6 or iPhone 6 Plus. T-Mobile's new pricing builds on the Un-carrier's straightforward $20 a month for a new iPhone 6s 16GB with JUMP! On Demand without a trade-in.
08:01 EDTGEGE Healthcare announces $300M commitment to support emerging market health
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