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Stock Market & Financial Investment News

News Breaks
July 31, 2014
17:06 EDTTMUS, S, TGT, MPC, ALL, LLL, PNR, WMT, PEPOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower, following the lead of international markets that were also sliding 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 Managerís Index came out well below expectations. Investors moved to the sidelines and watched stock prices steadily move lower ahead of the impending nonfarm payrolls data, due out tomorrow morning. With today's slide, the major averages gave up all of their gains for the month and will now be down for July. In fact, the Dow's losses were enough to erase the blue-chip index's gains for the year. 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, versus a 63.0 forecast. 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 $2.00, or 6.46%, to $32.94 after the company reported second quarter results that beat expectations and France's Iliad (ILIAF) confirmed that it has offered $15B in cash for 56.6% of T-Mobile US at $33 per share. T-Mobile US confirmed that it has received a proposal from Iliad S.A but stated in a regulatory filing that the company "will have no further comment at this time." Following that offer, which was first reported by Dow Jones, Sprint (S), which has been widely seen as the most likely buyer of T-Mobile, fell 41c, or 5.28%, to $7.35... Target Corporation (TGT) announced that its Board of Directors has named Brian Cornell as the companyís next chairman of the Board of Directors and CEO, effective August 12. Cornell most recently served as the CEO of PepsiCo Americas Foods (PEP) where he oversaw the companyís global food business. Before joining PepsiCo in 2012, Cornell served as president and CEO of Samís Club, a division of Wal-Mart (WMT). A number of analysts applauded Target's hiring decision, with Cowen upgrading the stock to Market Perform from Underperform afterward, but the stock finished the day down $1.79, or 2.92%, to $59.59 amid the market's broad sell-off. MAJOR MOVERS: Among the notable gainers was Marathon Petroleum (MPC), which rose $4.50, or 5.7%, to $83.48 after reporting better than expected second quarter sales and profits and announcing that its board approved an additional $2B share repurchase authorization. Also higher following its earnings report was Allstate (ALL), which advanced $1.56, or 2.74%, to $58.45. Among the noteworthy losers was L-3 Communications (LLL), which dropped $14.68, or 12.27%, to $104.96 and was downgraded to Hold from Buy at Drexel Hamilton after the company cuts its FY14 EPS outlook. Also lower were shares of Pentair (PNR), which fell $5.52, or 7.93%, to $64.07 and was downgraded to Underperform from Neutral at BofA Merrill Lynch after lowering its FY15 EPS target to $4.50 from $5.00. INDEXES: The Dow plunged 317.06, or 1.88%, to 16,563.30, the Nasdaq dropped 93.13, or 2.09%, to 4,369.77, and the S&P 500 fell 39.40, or 2.0%, to 1,930.67.
News For TMUS;S;TGT;MPC;ALL;LLL;PNR;WMT;PEP From The Last 14 Days
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October 15, 2014
09:14 EDTWMTWal-Mart CEO: We've recognized situation has changed, will respond accordingly
The company expects to continue investing in supply chain to support e-commerce with real momentum there. CEO Doug McMillon says "We will win in the new era of retail." and adds that "driving demand is the only sustainable way to deliver results." Notes once again that the company will manage capital in disciplined, thoughtful manner.
09:09 EDTWMTWal-Mart expects to change capital allocation plans, short term pressure
CEO Doug McMillon said the company will invest less in stores and more in e-commerce. He adds that the company is in a "period of transformation." He said the company took leverage a bit too far, and improving short term performance is a priority for the company's business segments. McMillon said the company has room to improve in stock and at checkout. He says the changes won't happen overnight. Notes that low fuel prices are in the company's favor although healthcare is a headwind. Says the successor of competitors shows it has no excuse to not improve.
09:05 EDTWMTWal-Mart CEO: Future looks bright with the necessary changes
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07:37 EDTTMUST-Mobile shares have reached favorable entry point, says Argus
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07:04 EDTTMUST-Mobile launches 4G LTE network throughout Cincinnati metro area
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06:49 EDTWMTWal-Mart partners with VUDU for digital movie access offering
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October 14, 2014
07:54 EDTS, TMUST-Mobile, Sprint risk turnover courting lower-credit subscribers, WSJ says
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October 13, 2014
13:26 EDTTMUSIliad ends plan to buy T-Mobile after "significantly" improved offer
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13:21 EDTTMUSIliad announces end of plans to acquire T-Mobile
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10:08 EDTMPCOn The Fly: Analyst Initiation Summary
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10:08 EDTTMUS, LLLOn The Fly: Analyst Upgrade Summary
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09:21 EDTTMUSOn The Fly: Pre-market Movers
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09:19 EDTTMUST-Mobile upgraded at Macquarie
As previously reported, Macquarie upgraded T-Mobile to Outperform from Neutral. The firm upgraded shares based on strong fundamentals and the recent sell off in shares. Price target is $34.
09:02 EDTWMTWal-Mart October volatility elevated into investment community meeting
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08:28 EDTLLLL-3 Communications upgraded to Fair Value from Sell at CRT Capital
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07:26 EDTPEPAB InBev has studied potential deal to acquire PepsiCo, Bloomberg says
Anheuser-Busch InBev (BUD), which has a history of growth via acquisition and has been speculated to be targeting peer SABMiller (SBMRY), has also studied whether a merger with PepsiCo (PEP) makes sense, according to Bloomberg, citing people familiar with the matter. The report added that one source said no talks between Anheuser-Busch and Pepsi are ongoing, no deal is imminent, and the scenario is among many that has been examined. The report also noted that Albert Fried views Monster Beverage (MNST) and Keurig Green Mountain (GMCR) as other suitable targets for AB InBev. Reference Link
07:15 EDTLLL, WMT, TGTNational Association of Corporate Directors to hold a conference
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06:49 EDTTMUST-Mobile upgraded to Outperform from Neutral at Macquarie
05:57 EDTMPCMarathon Petroleum reinstated with an Overweight at Barclays
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October 12, 2014
17:55 EDTWMTWal-Mart, DSW could benefit from holiday sales, Barron's says
Wal-Mart (WMT) and DSW (DSW) could benefit from the recent forecast of a 4% increase in holiday spending, Barron's contends in a follow up article. Reference Link
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