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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
Check below for free stories on TMUS;S;TGT;MPC;ALL;LLL;PNR;WMT;PEP the last two weeks.
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September 9, 2014
13:30 EDTTMUST-Mobile first U.S. carrier to support WiFi calling feature on Apple iPhone 6
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11:15 EDTTMUST-Mobile management to meet with Jefferies
Meeting to be held in New York on September 15 hosted by Jefferies.
07:29 EDTS, TMUSUBM Canon to hold a summit
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07:11 EDTTMUS, SUBM Tech to hold a conference
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05:16 EDTTMUS, SSprint announces improved phone-trade in program, price match guarantee
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September 8, 2014
12:57 EDTSSprint management to meet with Jefferies
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12:29 EDTTGTHome Depot victim of same malware that hit Target, Krebs reports
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10:06 EDTLLLOn The Fly: Analyst Upgrade Summary
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07:30 EDTLLLL-3 Communications upgraded to Outperform from Perform at Oppenheimer
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07:24 EDTALLBarclays to hold a conference
Global Financial Services Conference to be held in New York on September 8-10.
06:36 EDTLLLL-3 Communications upgraded to Outperform from Perform at Oppenheimer
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September 7, 2014
20:37 EDTTMUS, SApple'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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September 5, 2014
15:56 EDTTMUSDISH said to talk about T-Mobile deal with Deutsche Telekom, Bloomberg says
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15:32 EDTTMUSDISH said to talk about T-Mobile deal with Deutsche Telekom, Bloomberg says
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10:31 EDTSSprint reaches 4G LTE roaming agreements with 15 rural carriers
Sprint announced that it has reached 4G LTE agreements with 15 additional rural and regional network carriers as part of the Rural Roaming Preferred Provider program it announced with Competitive Carriers Association earlier this year. The program gives smaller carriers a clear path forward to high speed mobile broadband solutions by providing the carriers low-cost access to Sprintís nationwide 4G LTE network and an opportunity to access an expanded range of mobile devices.
10:05 EDTPNROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Actavis (ACT) initiated with a Buy at ISI Group... Akamai (AKAM) initiated with a Buy at UBS... Alexion (ALXN) initiated with a Buy at SunTrust... Allegion (ALLE) initiated with a Buy at Buckingham... Allergan (AGN) initiated with a Buy at ISI Group... Aviat Networks (AVNW) initiated with a Neutral at H.C. Wainwright... Celgene (CELG) initiated with a Buy at SunTrust... EZCORP (EZPW) initiated with a Hold at Jefferies... Eaton (ETN) initiated with a Neutral at Buckingham... Emerson (EMR) initiated with a Neutral at Buckingham... HMS Holdings (HMSY) initiated with an Overweight at Stephens... Incyte (INCY) initiated with a Buy at SunTrust... Ingersoll-Rand (IR) initiated with a Neutral at Buckingham... Insmed (INSM) initiated with an Outperform at Cowen... Intercept (ICPT) initiated with an Outperform at Cowen... Johnson & Johnson (JNJ) initiated with an Outperform at BMO Capital... Lennox (LII) initiated with a Neutral at Buckingham... Mylan (MYL) initiated with a Hold at ISI Group... Orion Engineered Carbons (OEC) initiated with a Buy at Goldman... Parker-Hannifin (PH) initiated with a Buy at Buckingham... Pentair (PNR) initiated with a Neutral at Buckingham... Pharmacyclics (PCYC) initiated with a Neutral at SunTrust... Rockwell Automation (ROK) initiated with a Neutral at Buckingham... Sabre (SABR) initiated with an Outperform at Oppenheimer... Santander Consumer (SC) initiated with a Buy at Jefferies... Springleaf (LEAF) initiated with a Buy at Jefferies... Susser Petroleum (SUSP) initiated with a Neutral at Credit Suisse... Teva (TEVA) initiated with a Buy at ISI Group... Valeant (VRX) initiated with a Buy at ISI Group... WESCO (WCC) initiated with a Neutral at Buckingham... Watsco (WSO) initiated with a Neutral at Buckingham... Weyerhaeuser (WY) initiated with a Neutral at JPMorgan... World Acceptance (WRLD) initiated with a Hold at Jefferies.
08:21 EDTWMTWal-Mart seeks lower rent, more control with China mall, China Daily says
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September 4, 2014
18:10 EDTPNRPentair initiated with a Neutral at Buckingham
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08:25 EDTTGTHome Depot could see less impact than Target from data breach, says BMO Capital
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