New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 6, 2014
Stocks on Wall Street began the session in negative territory in what appeared to be a continuation of yesterday’s sell-off. However, by mid-morning the averages crossed into positive territory where they have remained into the lunch hour. Events from abroad continue to move U.S. markets, as European stock markets responded unfavorably to weaker than expected economic data in Italy and Germany, and investors keep an eye on the unfolding stand-offs in Russia and Israel. ECONOMIC EVENTS: In the U.S., the trade deficit narrowed to $41.5B in June from a revised $44.7B in May. In Europe, Italian GDP unexpectedly contracted 0.2% in Q2, putting the country into a technical recession, while German manufacturing orders surprised with a 3.2% June drop. COMPANY NEWS: Shares of Time Warner (TWX) declined nearly 12% despite the company reporting quarterly earnings that surpassed the consensus expectation, as its results were overshadowed by other news, namely 21st Century Fox (FOXA) withdrawing its offer to buy the company. Fox Chairman and CEO Rupert Murdoch said Time Warner management and its board refused to engage and that the reaction in its own share price since its initial proposal was made "undervalues our stock and makes the transaction unattractive to Fox shareholders." Meanwhile, class A shares of 21st Century Fox, which also authorized the repurchase of an additional $6B of its stock, rose 5%... Another deal being abandoned drove shares of another prominent company lower, as Sprint (S) dropped 18% after replacing CEO Dan Hesse with Marcelo Claure and reportedly gave up on its plans to try to combine with the fourth largest U.S. mobile carrier, T-Mobile (TMUS). Shares of T-Mobile also sunk nearly 7%, though The Wall Street Journal, citing a source, said that Iliad (ILIAF) will continue to pursue its bid for T-Mobile, though the French company sees no immediate need to boost its own offer after Sprint and parent Softbank (SFTBF) appear to have walked away... Bank of America (BAC) increased its quarterly dividend to 5c per share from 1c per share, marking the bank’s first quarterly common stock dividend increase in seven years. MAJOR MOVERS: Among the notable gainers was brewer Molson Coors (TAP), which rose 6% after the company's second quarter profits topped expectations. Also higher following their earnings reports were Enphase Energy (ENPH), which gained 20%, and WPX Energy (WPX), which advanced 12%. Among the noteworthy losers was Walgreen (WAG), which dropped 12% after the company exercised its option to acquire the remaining 55% of Alliance Boots that it does not already own but said its purchase of the rest of Boots will not be a "tax inversion" deal, as many had been expecting. Walgreen also authorized a $3B share repurchase program and raised its dividend by 7.1%, though the capital return plans did not appear to be enough to offset investor disappointment over the lack of an inversion pursuit. Also lower following their earnings reports were Groupon (GRPN), which fell 16%, Rocket Fuel (FUEL), which plunged 27%, and Nu Skin (NUS), which declined 24%. INDEXES: Near midday, the Dow was up 53.37, or 0.32%, to 16,482.84, the Nasdaq was up 25.50, or 0.59%, to 4,378.34, and the S&P 500 was up 6.91, or 0.36%, to 1,927.12.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 >>
November 20, 2015
07:36 EDTSSprint lowers FY15 adjusted EBITDA view to $6.8B-$7.1B
Subscribe for More Information
07:35 EDTS, SFTBFSprint signs $1.2B deal for sale and lease-back of certain leased devices
Subscribe for More Information
07:33 EDTSSprint signs $1.2B deal for sale and lease-back of certain leased devices
Subscribe for More Information
November 19, 2015
16:00 EDTBACOptions Update; November 19, 2015
Subscribe for More Information
10:02 EDTFOXA21st Century Fox establishes partnership with Tony Sella
Subscribe for More Information
09:34 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL CHK BAC FB PFE MU GMCR AMZN NFLX BBY BABA CRM QCOM
November 18, 2015
17:44 EDTTWXTCS Capital reports 10.9% stake in Central European Media, urges sale of company
In a regulatory filing reporting its position in the company, TCS Capital stated it delivered a letter on November 18 to Central European Media's (CETV) chairman and board of directors urging the hiring of a financial adviser to explore a sale of the company. In the letter, TCS expressed concern about the "poor performance" of the company's stock price, which it believes is "directly tied to Time Warner's (TWX) dominant position as both the largest debt and equity holder" of Central European.
16:45 EDTSOn The Fly: Top stock stories for Wednesday
Stocks on Wall Street were higher from the opening bell onward despite housing starts data that was weaker than expected. Investors waited for the release of the FOMC minutes and saw what they had suspected; that the Fed was reinforcing its message that the December meeting is an option for the central bank to begin raising interest rates. The visibility on rates gave investors confidence, leading to a late-day rally that saw the averages close at their highs. ECONOMIC EVENTS: In the U.S., the minutes from the Fed's last FOMC meeting showed that most participants expect that rate hike conditions will be met by their December meeting. The Fed repeated its constant refrain, though, that the actual decision would depend on the implications for the medium-term outlook from recent economic data. Housing starts fell 11.0% to a 1.06M pace in October, weaker than the expected rate of 1.16M. Building permits, however, rose 4.1% to a 1.15M rate, versus an expected rise of 3.8%. COMPANY NEWS: Shares of Target (TGT) fell 4.3% to $69.78 after the retailer reported in-line quarterly sales and profits and narrowed the range of its fiscal year earnings view. Target, which guided for same-store sales in the new quarter to be up 1%-2%, added that it sees "indications of heavy inventory levels" at some competitors into the holiday season... Shares of Apple (AAPL) climbed 3.17% to $117.29 after Goldman Sachs added the stock to its Conviction Buy List, predicting that investors should begin to focus on the company's monetization and recurring revenue opportunities over the next year, which would be a boon to its valuation... Raymond James analyst Pavel Molchanov downgraded Exxon Mobil to Underperform, the firm's equivalent to a "Sell" rating, saying he expects a modest oil recovery in 2016 but that Exxon's limited leverage to oil prices will act as a hindrance during a recovery. Despite Molchanov predicting Exxon shares to be a source of funds for investors turning more constructive on oil in 2016, the stock rose about 1% to $80.74 today amid a rally in oil prices. MAJOR MOVERS: Among the notable gainers was Fairchild (FCS), which jumped $1.52, or 8.5%, to $19.40 after agreeing to be acquired for $20 per share by ON Semiconductor (ON), whose stock fell 7.9% to $9.89 after the news. Also higher were Canadian Pacific (CP) and Norfolk Southern (NSC), with the two railway operators advancing a respective 5.8% and 6.35% after Canadian submitted a bid to acquire Norfolk, though the latter immediately criticized the offer as "low-premium." Additionally, ConAgra (CAG) gained 4% to $40.93 after announcing plans to separate into two independent public companies. Among the noteworthy losers was Qualcomm (QCOM), which dropped $4.98, or 9.4%, to $48.00 after disclosing that Korea's Fair Trade Commission alleged the company does not "properly negotiate" aspects of its licenses and may be violating Korean competition law. Also lower was Sprint (S), which fell 9.3%, to $3.99 after announcing a 50% discount for new customers switching from competing wireless carriers. GoPro (GPRO) declined 5.1% to $19.81 after research firm Piper Jaffray noted that the company has been offering discounts on its cameras, including featuring them on "flash sale" sites, and cut its price target on the stock to $15 per share. INDEXES: The Dow rose 247.66, or 1.42%, to 17,737.16, the Nasdaq gained 89.19, or 1.79%, to 5,075.20, and the S&P 500 advanced 33.14, or 1.62%, to 2,083.58.
11:33 EDTS, TMUSSprint announces launch of LTE Plus network
In celebration of the launch of its new LTE Plus network, Sprint (S) is introducing the biggest wireless offer in U.S. history - 50% off the price of most Verizon (VZ), AT&T (T) and T-Mobile (TMUS) rate plans, the company says. New customers can sign up for this offer nationwide Nov. 20 through Jan. 7, 2016. LTE Plus, available today in 77 major markets, takes advantage of Sprint's rich triband spectrum portfolio, and it uses some of the world's most advanced technologies in wireless, such as carrier aggregation and antenna beamforming. Customers who switch get 50 percent off most current rate plan prices from their current carrier. AT&T, T-Mobile and Verizon customers switching to Sprint also can take advantage of iPhone Forever, where they are eligible to upgrade every time a new iPhone launches. Customers must port one line, and can add up to 9 additional lines on the account. Customers must choose from the 50 percent off rate plans available from their current carrier. Cricket and MetroPCS customers also can switch and save 50 percent off their parent company's postpaid rates. 50 percent off pricing remains valid until Jan. 8, 2018, for activations between Nov. 20, 2015, and Jan. 7, 2016.
10:08 EDTGRPNGoPro sinks after analyst finds cameras on flash sales sites
The shares of action camera maker GoPro (GPRO) are sinking and hit a new 52-week low after research firm Piper Jaffray reported that the company has been offering significant discounts on its cameras. WHAT'S NEW: GoPro's cameras have been selling on flash sales websites such as Zulily (ZU) and Groupon (GRPN) at price discounts of 16%-34%, Piper analyst Erinn Murphy wrote in a note to investors today. As a result of these discounts and the 147% increase in GoPro's inventory at the end of the third quarter, the analyst is concerned that the company's gross margin could be pressured. In addition to the discounts GoPro is offering on the flash websites, the camera maker cut the price of its GoPro Session camera on Amazon to $299 from $399 in September and there has been "select downward price movement" on two more of its cameras on Amazon, Murphy reported. The analyst continues to expect GoPro's Q4 earnings per share to come in at 34c, versus analysts' consensus estimate of 41c. She slashed her fiscal 2016 EPS estimate for the company to $1.03 from $1.35, versus the consensus outlook of $1.37. Murphy reduced her price target on the stock to $15 from $20 and kept an Underweight rating on the name. WHAT'S NOTABLE: Ambarella (AMBA) makes chips used in GoPro's cameras. Best Buy (BBY), which is due to report its results tomorrow, sells GoPro's cameras. PRICE ACTION: In early trading, GoPro fell 8% to $19.19. Earlier today, it hit a new 52-week low of $19.04.
09:34 EDTGRPNActive equity options trading on open
Subscribe for More Information
08:55 EDTBACMorgan Stanley exec sees Q4 not much better than Q3 for banks, DJ reports
Morgan Stanley (MS) Institutional Securities President Colm Kelleher cautioned that fixed-income markets "still seem subdued," according to Dow Jones, citing his comments at an investment conference. Morgan Stanley was among the banks that reported lower revenue from fixed-income, currency and commodities trading during the third quarter and Kelleher said he doesn't think "the fourth quarter is going to be much better," the report noted. Large bank peers to Morgan Stanley include Bank of America (BAC), Citi (C), Goldman Sachs (GS), JPMorgan (JPM), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:16 EDTFOXAComcast dumps YES Network, WSJ reports
Subscribe for More Information
06:13 EDTBACBofA CEO: Banks trying to revamp checking to fend off startups, Bloomberg says
Subscribe for More Information
November 17, 2015
16:21 EDTSSprint to hold a press conference with a conference call hookup
Sprint CEO Claure makes a major announcement and will answer questions from participating journalists at a Press Conference to be held on November 18 at 12:15 pm.
16:01 EDTBACOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
09:20 EDTTMUST-Mobile shares attractive, likley to be acquired, says Cowen
Subscribe for More Information
09:14 EDTTWXDolby, VUDU to release Warner Bros. titles for Dolby Vision
Subscribe for More Information
08:56 EDTTWXTime Warner announces proposed debt offering
Subscribe for More Information
07:50 EDTBACClearing House to hold a conference
Subscribe for More Information
1 | 2 | 3 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use