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Stock Market & Financial Investment News

News Breaks
July 31, 2014
12:29 EDTLLL, LPSN, GE, TMUS, AVP, OTEX, SYF, EDAP, ILIAF, WFM, SOn 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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November 18, 2014
06:27 EDTSSprint's Chief Marketing Officer to leave company, WSJ reports
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06:23 EDTSSprint names Douglas Michelman to management team, to replace Bill White
Sprint (S) announced the appointment of Douglas Michelman to Sprint’s leadership team. Most recently, he spent 10 years as Chief Communications Officer at Visa (V), where he oversaw global media relations, public affairs, industry analyst relations and financial and communication strategies. Prior to Visa, Michelman served in various roles at FleishmanHillard, including regional president and senior partner. In addition to his many years of corporate experience, Michelman’s communications background also includes staff positions for two presidential campaigns. Michelman replaces Bill White, Senior Vice President of Corporate Communications and Corporate Social Responsibility, who will be leaving the company. White spent the past 32 years with Sprint. Michelman joins Sprint on Monday, Dec. 1, 2014, and will be relocating to Overland Park, Kansas.
05:31 EDTOTEXOpen Text initiated with an Overweight at Barclays
Target $65.
November 17, 2014
10:31 EDTGEGE sees China order growth despite slowing economy, WSJ says
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November 14, 2014
16:58 EDTTMUSThird Point gives quarterly update on stakes
NEW STAKES: Alibaba (BABA), eBay (EBAY), Bed Bath & Beyond (BBBY), Shire (SHPG), and Parker Hannifin (PH). INCREASED STAKES: Actavis (ACT), Amgen (AMGN), EQT (EQT), Sensata (ST), Coca-Cola Enterprises (CCE). DECREASED STAKES: Williams Cos (WMB), Ally Financial (ALLY), Cheniere Energy (LNG), YPF (YPF), and FedEx (FDX). LIQUIDATED STAKES: AIG (AIG), T-Mobile (TMUS), Rackspace (RAX), Hertz (HTZ), and Citrix Systems (CTXS).
12:53 EDTSOmega Advisors gives quarterly update on stakes
NEW STAKES: AerCap Holdings (AER), Nordic American Offshore (NAO), Melco Crown Entertainment (MPEL), Groupon (GRPN), and Ashland (ASH). INCREASED STAKES: QEP Resources (QEP), United Continental (UAL), Cabot Oil & Gas (COG), Actavis (ACT), and KAR Auction Services (KAR). DECREASED STAKES: Sprint (S), SandRidge Energy (SD), Sirius XM Holdings (SIRI), Kinder Morgan (KMI), and Transocean (RIG). LIQUIDATED STAKES: QUALCOMM (QCOM), Ocwen Financial (OCN), Freeport-McMoRan (FCX), Boston Scientific (BSX), and Capital One (COF).
10:03 EDTAVPHigh option volume stocks
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09:38 EDTGEActive equity options trading
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08:04 EDTGEGE Capital provides $37.5M credit facility to Specialty's Cafe & Bakery
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08:00 EDTGEHalliburton, Baker deal would face 'intense' DOJ scrutiny, says Jefferies
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November 13, 2014
13:42 EDTOTEXOpen Text deepens cooperation in its partnership with SAP
OpenText (OTEX) announced at OpenText's Enterprise World 2014 conference that it has deepened its long-standing strategic relationship with SAP (SAP). Through co-innovation, OpenText and SAP deliver customers an ever-growing choice of integrated products and solutions designed to help customers take advantage of digital technologies such as mobile, cloud, and social networking. Offerings from OpenText and SAP include comprehensive support for customer engagement solutions that are fundamental for companies moving towards use of these technologies. By delivering big data solutions based on the SAP HANA platform, OpenText and SAP aim to increase real-time access to information and data via mobile devices and cloud technologies.
11:12 EDTGEHungary to buy Budapest from GE Capital, Reuters reports
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10:04 EDTGEGE opens $500M Brazil Technology Center
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09:04 EDTTMUSSwitching to T-Mobile remains elevated, says Pacific Crest
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07:26 EDTGEGE sees great infrastructure demand in developing markets, Reuters says
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November 12, 2014
09:01 EDTGEGE to build advanced manufacturing facility in Pennsylvania
GE announced that it will build a new manufacturing facility to drive innovation and implementation of advanced manufacturing technologies across GE. The new facility represents a $32M investment over three years by the company and will result in the creation of 50 high-tech engineering jobs initially, in disciplines ranging from mechanical and electrical to systems and software engineering. These technologists will join GE’s global network of 50,000 world-class scientists, engineers, and skilled labor who are working to solve some of the world’s toughest challenges. The new facility reflects GE’s belief that the intersection of technology and manufacturing – marrying hardware with software – is bringing a new era of manufacturing. The site will be located outside of Pittsburgh in Findlay Township, PA to capitalize on the renowned academic institutions and skilled workforce in the area. Construction is expected to begin in March 2015 to be completed by September 2015.
08:46 EDTSSprint in talks to buy FreedomPop, USA Today reports
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08:05 EDTLLL, GEGoldman to hold a conference
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07:48 EDTSWells Fargo to hold a conference
5th Annual Technology, Media & Telecom Conference is being held in New York on November 12-13.
07:28 EDTSYFBofA/Merrill to hold a conference
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