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Stock Market & Financial Investment News

News Breaks
July 10, 2014
12:21 EDTPBPB, FDO, CRAY, UAL, LL, TRWOn The Fly: Midday Wrap
Stocks on Wall Street began the session deep in negative territory and although they have managed recoup some ground, they remain lower. Fears about the health of one of Portugal’s largest banks, coupled with weak economic data out of Italy, prompted a sell-off in Europe, which spilled over to the U.S. The decline in the market marked its biggest drop since May, but the averages have recaptured some of their earlier session losses by midday. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 11K to 304K in the week ended July 5. Wholesale inventories rose 0.5% in May, while sales edged up 0.7%, which were both a little below expectations. In China, trade performance improved in June but still missed market forecasts. Exports rose 7.2% in June from a year earlier, missing the consensus forecast for a rise of 10.6%, while imports grew 5.5% in the month, versus the 5.8% growth expectation. In Europe, concerns about the periphery rose again as the parent company of Portugal's Espirito Santo bank missed a debt payment, leading the country's interest rates higher and equities in the Eurozone lower. Also, Italy's industrial output saw its steepest monthly fall since late 2012, having dropped 1.2% in May, and the Bank of England maintained its main bank rate and its stock of purchased assets. COMPANY NEWS: Shares of airline United Continental (UAL) rose nearly 10% after reporting that its consolidated traffic, or revenue passenger miles, was flat year-over-year in June. In a note to investors following the company's update, UBS said it expected United Continental shares to trade higher given its higher than expected PRASM... Family Dollar (FDO) initially fell after reporting third quarter earnings that missed expectations. The dollar store operator stated that its same-store sales were down 1.8% in the period, but noted that its June comparable sales were approximately flat and that it was "encouraged" by its improving trends. Near noon, the stock had recovered and was up nearly 1%. MAJOR MOVERS: Among the notable gainers was supercomputer maker Cray (CRAY), which rallied 14.5% after the company announced it has been awarded a $174M computer deal from the National Nuclear Security Administration. Also higher was TRW Automotive (TRW), which rose nearly 7% before being halted for pending news near noon. Prior to the trading halt, Bloomberg had reported that Germany’s ZF Friedrichshafen has approached TRW about a potential takeover offer, with one source saying that the German company values the U.s. auto parts maker at around $11B-$12B. Among the noteworthy losers was sandwich maker Potbelly (PBPB), which plunged 23% after the company's second quarter and fiscal 2014 outlook fell significantly short of analysts' consensus estimates. Also lower was hardwood flooring and accessories retailer Lumber Liquidators (LL), which sunk 21% and was downgraded at both Credit Suisse and Jefferies after the company lowered its outlook for the year. INDEXES: Near midday, the Dow was down 91.13, or 0.54%, to 16,894.48, the Nasdaq was down 23.91, or 0.54%, to 4,395.13, and the S&P 500 was down 8.95, or 0.45%, to 1,963.88.
News For UAL;FDO;TRW;CRAY;PBPB;LL From The Last 14 Days
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March 27, 2015
05:59 EDTLLStocks with implied volatility below IV index mean; LL WLL
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March 26, 2015
15:45 EDTLLLumber Liquidators may file suit against '60 Minutes,' FBN's Gasparino says
In a tweet, Fox Business News' Charlie Gasparino said, "$LL execs emboldened to sue @60Minutes over report abt flooring safety post regulatory decision on testing more @FoxBusiness 323pm."
06:00 EDTLLStocks with implied volatility below IV index mean; LL CTRP
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March 25, 2015
14:49 EDTLLCPSC's emissions testing a positive for Lumber Liquidators, says Goldman
Goldman said the Chairman of the Consumer Products Safety Commission's decision not to replicate deconstructive tests but to test emissions is a positive for Lumber Liquidators. The firm said the deconstructive tests were an important component of the bear case and Lumber Liquidators says it has passed, based on its testing, emissions tests. Goldman rates Lumber Liquidators a Neutral with a $35 price target given significant gross margin pressures.
13:07 EDTLLCSPC test method positive for Lumber Liquidators, says Janney Capital
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12:52 EDTLLOn The Fly: Midday Wrap
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11:39 EDTLLCPSC announces active investigation of Lumber Liquidators
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10:26 EDTLLLumber Liquidators trading up sharply from session lows, levels to watch
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10:24 EDTLLLumber Liquidators up over 10% as CPSC call continues
The Consumer Product Safety Commission said it is actively investigating Lumber Liquidators, but will not use CARB-mandated testing of Lumber Liquidators flooring during its own investigation. CPSC Chairman Elliot Kaye reportedly said its investigation is "exclusive to Lumber Liquidators" for now, but could expand to other companies if information warrants. Kaye also reportedly said the options for Lumber Liquidators could include a recall and that CPSC would have to sue to enforce if voluntary recall is found to be needed but is not agreed to by the company. Lumber Liquidators shares are up 10.7% to $31.90 as the CPSC's call continues.
10:18 EDTLLCPSC says calls on Lumber Liquidators down 80% since right after 60 Minutes
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10:15 EDTLLCPSC chair says commission has 'different madate' than CARB
The CPSC will not use CARB-mandated testing of Lumber Liquidators flooring, the commission's chair stated on a call with the media.
10:11 EDTLLLumber Liquidators probe to take 'months, not weeks,' CPSC chair says
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10:06 EDTLLCPSC says actively investigating Lumber Liquidators, Bloomberg reports
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09:51 EDTLLLumber Liquidators March weekly 30 straddle priced for 13% movement
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09:15 EDTLLLumber Liquidators volatility elevated, CPSC planning teleconference – CNBC
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08:21 EDTLLRegulator to hold Lumber Liquidators teleconference at 10:00, CNBC says
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March 24, 2015
08:04 EDTUALAirline estimates may have to come down, buy on weakness, says Cowen
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05:49 EDTLLStocks with implied volatility movement; LL YUM
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March 23, 2015
09:09 EDTLLLumber Liquidators probe called for by Senator Schumer, AP reports
New York Sen. Chuck Schumer is asking federal authorities to investigate the safety of Lumber Liquidators' Chinese-imported wood laminate flooring and force recalls if needed, reported Associated Press. Reference Link
March 20, 2015
06:08 EDTLLStocks with implied volatility below IV index mean; LL YELP
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