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Stock Market & Financial Investment News

News Breaks
April 18, 2013
12:33 EDTVZ, ACI, BTU, THRX, PM, UNH, UNP, PPG, PEP, MS, AAPL, ANROn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite the number of unemployment claims being little changed from last week. Stocks began the session slightly above yesterday’s close but turned mixed within a few minutes of trading. The latest set of corporate earnings released this morning was generally in-line with expectations, as was the weekly jobless claims data. The selling picked up as rumors spread of a possible failure of a French bank, which then was disputed. The averages have moved violently up and down in alternating fashion in the first three sessions of this week, but if the levels near noon hold, the pattern may break and a second down day may be in store for stocks. ECONOMIC EVENTS: In the U.S., weekly jobless claims rose 4K from the prior week to 352K, which was close to the forecast for 350K. The Philadelphia Fed's General Business Conditions Index for April came in at 1.3, versus expectations for a 3.3 figure. The leading economic indicators fell 0.1% in March to 94.7, versus expectations for a 0.2% rise. COMPANY NEWS: Among the number of large cap companies reporting earnings today before the market opened, PPG (PPG), PepsiCo (PEP), Union Pacific (UNP) and Verizon (VZ) were among the advancers, while Morgan Stanley (MS), UnitedHealth (UNH) and Philip Morris (PM) all declined... Apple (AAPL) fell nearly 2% near noon and crossed below $400 per share for the second straight trading day, after BMO Capital lowered its price target on shares and Piper Jaffray said information from Verizon's report indicates Apple may report March quarter revenue at the low end of guidance. MAJOR MOVERS: Among the notable gainers was Theravance (THRX), which rose 16% after an FDA committee recommended approval of Breo Ellipta for COPD. Also higher were shares of Peabody Energy (BTU), up 8% following its quarterly report, and peers Arch Coal (ACI) and Alpha Natural Resources (ANR), which gained as well after Peabody's results and commentary on the coal market. Among the noteworthy losers was Exact Sciences (EXAS), which fell 21% after the company announced that its colorectal cancer screening test was able to detect the presence of pre-cancerous polyps 42% of the time during a clinical trial. Also lower was Ultratech (UTEK), which fell 13% after reporting revenue that missed expectations and saying its revenue in the current quarter could fall another 25%. INDICES: Near midday, the Dow was down 50.72, or 0.35%, to 14,567.87; the Nasdaq was down 26.23, or 0.82%, to 3,178.44; and the S&P 500 was down 6.86, or 0.44%, to 1,545.15.
News For VZ;AAPL;MS;PEP;PPG;UNP;UNH;PM;THRX;BTU;ACI;ANR From The Last 14 Days
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August 7, 2014
06:43 EDTAAPLApple poaches YSL's Catherine Monier, 9to5Mac reports
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06:19 EDTAAPLMicrosoft in talks to open Fifth Avenue store, Daily News reports
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05:40 EDTUNHUnitedHealth downgraded to Buy from Conviction Buy at Goldman
Goldman Sachs downgraded UnitedHealth to Buy saying it sees better opportunities elsewhere within healthcare given its expectations for a stronger utilization environment. The firm dropped its price target for shares to $91 from $96.
August 6, 2014
16:34 EDTANRAlpha Natural upgraded to Neutral from Sell at UBS
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16:33 EDTTHRXTheravance reports Q2 EPS (57c), consensus (44c)
Reports Q2 revenue $934K, may not compare to consensus $4.39M.
16:23 EDTTHRXTheravance names Michael Aguiar as president, CEO
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16:01 EDTAAPLOptions Update; August 7, 2014
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10:00 EDTPEPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Burlington Stores (BURL) initiated with a Neutral at Sterne Agee... EZchip (EZCH) initiated with an Outperform at Imperial Capital... FIS (FIS) initiated with a Buy at Monness Crespi... Fiserv (FISV) initiated with a Buy at Monness Crespi... Michaels Stores (MIK) initiated with a Buy at Deutsche Bank... Nordson (NDSN) initiated with a Market Perform at Wells Fargo... PepsiCo (PEP) initiated with a Reduce at Nomura... Restoration Hardware (RH) coverage assumed with an Outperform at Avondale... RingCentral (RNG) initiated with an Outperform at Oppenheimer... ServiceMaster (SERV) initiated with a Buy at BofA/Merrill... Tesla (TSLA) initiated with an Outperform at Pacific Crest... Under Armour (UA) initiated with a Fair Value at CRT Capital.
09:36 EDTVZ, AAPLActive equity options trading on open
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08:44 EDTAAPLApple products excluded from Chinese government procurement list, Bloomberg says
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08:20 EDTMSFed, FDIC tell big banks to revise 'living will' plans
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07:38 EDTPEPPepsiCo initiated with a Reduce at Nomura
Target $81.
07:11 EDTANRAlpha Natural considering ceasing production in Emerald mine in 2015
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07:08 EDTANRAlpha Natural reports Q2 EPS (56c), consensus (74c)
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06:27 EDTMSMorgan Stanley says continuing to respond to subpoenas, requests for information
Morgan Stanley said in a filing that it is continuing to respond to subpoenas and requests for information from certain federal and state regulatory and governmental entities, including among others various members of the RMBS Working Group of the Financial Fraud Enforcement Task Force, concerning the origination, financing, purchase, securitization and servicing of subprime and non-subprime residential mortgages and related matters such as residential mortgages backed securities, collateralized debt obligations, structured investment vehicles and credit default swaps backed by or referencing mortgage pass through certificates. These matters include, but are not limited to, investigations related to the company’s due diligence on loans that it purchased for securitization, the company’s communications with ratings agencies, the company’s disclosures to investors, and the Company’s handling of servicing and foreclosure related issues. On May 8, the California Attorney General’s Office, which is one of the members of the RMBS Working Group, indicated that it has made certain preliminary conclusions that the Company made knowing and material misrepresentations regarding RMBS and that it knowingly caused material misrepresentations to be made regarding the Cheyne SIV, which issued securities marketed to the California Public Employees Retirement System. The CAAG has further indicated that it believes the company’s conduct violated California law and that it may seek treble damages, penalties and injunctive relief. The company does not agree with these conclusions and has presented defenses to them to the CAAG. On July 23, the U.S. SEC approved the company’s Offer of Settlement to resolve the SEC’s investigation of certain subprime RMBS transactions sponsored and underwritten by the company in 2007. Pursuant to the settlement, the company was charged with violating Sections 17(a)(2) and 17(a)(3) of the Securities Act, agreed to pay disgorgement and penalties in an amount of $275M and neither admitted nor denied the SEC’s findings.
06:25 EDTMSMorgan Stanley says added $53M to legal costs in Q2, cutting EPS by 2c
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06:23 EDTMSSecurities Industry & Financial Markets Association to hold a seminar
Compliance & Legal Society Regional Seminar to be held in San Francisco on August 6.
06:21 EDTUNHPiper Jaffray to hold a summit
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06:19 EDTMSCFA Society of Minnesota to hold a conference
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06:09 EDTAAPLApple, Samsung to drop all litigation outside U.S., Re/code reports
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