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Stock Market & Financial Investment News

News Breaks
March 25, 2014
12:28 EDTGM, WAG, CCL, SONC, HIMX, MKCOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq lagging the other major indexes for a second session in a row. Stock index futures were higher during pre-market trading, leading to a higher open for the broader market. The averages began to slip about an hour into trading and the tech-heavy Nasdaq was the first to fall into negative territory. Despite a consumer confidence reading that hit its highest level in about six years, the benchmark S&P 500 is little changed near noon. ECONOMIC EVENTS: In the U.S., the Conference Board’s index of consumer confidence rose to 82.3 in March from 78.3 a month earlier, beating expectations and hitting its highest level since the beginning of 2008. The S&P/Case-Shiller index of property values in 20 cities increased 13.2% from the prior year in January. New home sales dropped 3.3% to a 440K rate in February. Analysts had forecast a 4.9% decrease in the month. The Richmond Fed's business activity survey for March came in at -7, marking its second negative reading in a row. COMPANY NEWS: Walgreen (WAG) shares climbed 3% despite a headline earnings miss after the company said it plans to close 76 drugstores and expects more synergies from its Alliance Boots acquisition... Shares of cruise line operator Carnival (CCL) declined over 5% after the company narrowed its full-year profit forecast, citing higher costs. MAJOR MOVERS: Among the notable gainers was drive-in restaurant operator Sonic (SONC), which rose more than 9% after its quarterly earnings beat analysts’ consensus estimate. Also higher following its earnings report was spice maker McCormick (MKC), which advanced 6%. Among the noteworthy losers was Himax Technologies (HIMX), which fell 15% after Bank of America Merrill Lynch downgraded the stock two notches to Underperform from Buy. Also lower were shares of General Motors (GM), which slid 2.5% amid more press reports regarding its botched recall of vehicles with faulty ignition switches. The New York Times said GM lied about the evidence it had regarding defects in its cars, while Reuters reported that two GM customers filed an emergency motion seeking to compel the carmaker to warn owners to immediately stop driving the 1.6M vehicles that have been recalled over the switch issues. INDEXES: Near midday, the Dow was up 35.13, or 0.22%, to 16,311.82, the Nasdaq was down 19.32, or 0.46%, to 4,207.06, and the S&P 500 was up 0.34, or 0.02%, to 1,857.78.
News For WAG;CCL;SONC;HIMX;MKC;GM From The Last 14 Days
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August 24, 2014
21:53 EDTWAGNational Association of Chain Drug Stores to hold an expo
2014 NACDS Total Store Expo to be held in Boston on August 23-25.
17:07 EDTGMGM considers delay in expansion of Russian plant, WSJ says
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August 22, 2014
13:45 EDTWAGWalgreen pharmacy database fails after system update, DJ reports
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11:04 EDTGMGM assessing timing of facility development in Russia, Reuters says
GM said that it was assessing the timing of the planned development of its Russian facility close to St Petersburg due to a decline in the automobile market in the country, according to Reuters, citing comments from a company spokesman. The spokesman said, "In view of the current business situation in Russia and the lower sales volumes since the start of the year, we are taking a close look at our plans. Reference Link
06:54 EDTGMChrysler to not replace Ram steel body panels until 2020, Reuters says
Fiat's (FIATY) Chrysler is aiming to redesign its full-size Ram 1500 pickup trucks beginning in three years, but the car manufacturer has no definitive goals to follow competitors GM (GM) and Ford (F) in using aluminum body panels instead of steal until a finalized overhaul happens after 2020, according to Reuters, citing industry sources. Reference Link
06:07 EDTGMProsecutors investigating GM's legal department, WSJ reports
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05:44 EDTWAGStocks with implied volatility below IV index mean; SNDK WAG
Stocks with implied volatility below IV index mean; SanDisk (SNDK) 23, Walgreen (WAG) 20 according to iVolatility.
August 21, 2014
13:52 EDTGMCadillac mulls expanding offices to Manhattan, Reuters says
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11:47 EDTWAGWalgreen upgraded at BofA/Merrill
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11:09 EDTWAGWalgreen upgraded to Neutral from Underperform at BofA/Merrill
07:18 EDTGMChina considering new anti-trust rules for auto sector, China Daily says
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06:21 EDTGMGM product chief thinks Google might become 'threat,' Bloomberg says
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06:08 EDTGMGM launches new round of discounts for Labor Day weekend, WSJ reports
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06:00 EDTWAGStocks with implied volatility below IV index mean; TWX WAG
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August 20, 2014
08:09 EDTWAGWalgreen pressured CFO, pharmacy chief to leave, WSJ reports
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06:00 EDTWAGStocks with implied volatility below IV index mean; SEAS WAG
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August 19, 2014
09:41 EDTGMGM recalls Silverados, Sierras equipped with auxiliary battery
GM is recalling certain model year 2007-2011 Chevrolet Silverado HD 2500/3500 trucks manufactured January 18, 2007, to June 22, 2011, and GMC Sierra HD 2500/3500 trucks manufactured January 22, 2007, to June 21, 2011, and equipped with an auxiliary battery. Owners may unknowingly draw too much current through the vehicle's trailer harness resulting in the melting of fusible link for the auxiliary battery. If the fusible link melts it may come into contact with adjacent components, damage the electrical center cover, the nearby wiring harness conduit and other vehicle components, increasing the risk of a fire. GM will notify owners and dealers will replace the jumper harness with one that includes a 40 amp inline fuse, and provide the owner with supplemental Owner Manual information, free of charge. The manufacturer has not yet provided a notification schedule. Reference Link
09:38 EDTGMGM recalls cars equipped with Calix oil pan, block heater
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08:02 EDTGMBorgWarner supplies solenoid technology for General Motors' GF6
BorgWarner (BWA) supplies its mini direct-acting variable force solenoid for General Motors' (GM) global front-wheel drive 6-speed automatic transmission program, or GF6.
06:01 EDTWAGStocks with implied volatility below IV index mean; SEAS WAG
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