New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 11, 2013
12:21 EDTUPIP, AXP, JCP, INFY, WFC, BV, ERIC, BBY, ARQLOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Dow managing to cross back into positive ground near noon. The averages began the session in relatively quite fashion and traded in a narrow range throughout the morning. There was little reaction to the pre-market release of both the trade balance report for November and import and export price data for December. The focus for investors was more on the release of earnings from banking giant Wells Fargo (WFC), the first of the big U.S. banks to report... ECONOMIC EVENTS: In the U.S., the trade deficit grew in November to $48.7B, after analysts called for the deficit to shrink to $41.3B. However the gap's widening was driven by an increase in consumer goods imports, which is a potentially positive signal for consumer spending. Import prices decreased 0.1% in December, versus an expected increase of 0.1%, while export prices were similarly down 0.1% in the month, which matched expectations. In Asia, Japan's government approved $116B in new stimulus spending. Also, China's consumer price index grew 2.5% in December from the prior year, overshooting expectations for a less pronounced pick-up from the 2.0% growth rate of November. Producer prices, however, fell 1.9% from the prior year, which was roughly in-line with expectations... COMPANY NEWS: Wells Fargo's headline results topped expectations, as its EPS of 91c and $21.9B revenue both beat consensus. However, Wells’ Q4 net interest margin slid 10 basis points from the prior quarter to 3.56% and its stock declined 1% in midday trading... Shares of another newsmaker in the financial sector, American Express (AXP), fared a bit better, rising about 0.35%. AmEx said it plans to cut 5,400 jobs, with the largest cuts to come in its travel business. The company also said last night that cardmember spending rose 8% in Q4 and reported preliminary quarterly profit that beat Street expectations... MAJOR MOVERS: Among the notable gainers was Best Buy (BBY), which rose over 12% after reporting its domestic same-store sales were flat during the holiday season, but also cutting its view of free cash flow for this year. Also higher were shares of Infosys (INFY), up 17% after its results and guidance topped expectations, and Unwired Planet (UPIP), up 30% after the company announced a patent purchase agreement with Ericsson (ERIC) and the stock was upgraded to Outperform at Northland. Shares of J.C. Penney (JCP) sunk nearly 6% after UBS said the retailer's earnings outlook is deteriorating and downgraded the stock to Sell. Among the other noteworthy losers were ArQule (ARQL), down 15% after a Phase 2 trial for its cancer treatment failed to meet its primary endpoint, and Bazaarvoice (BV), down 11% after the Department of Justice filed an antitrust suit against the company and its stock was downgraded to Market Perform at BMO Capital... INDICES: Near noon, the Dow was up 6.12, or 0.05%, to 13,477.34; the Nasdaq was down 2.29, or 0.07%, to 3,119.47; and the S&P 500 was down 1.81, or 0.12%, to 1,470.31.
News For WFC;AXP;BBY;INFY;UPIP;ERIC;JCP;ARQL;BV From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | all recent news | >>
March 23, 2015
07:19 EDTWFCCapital Link to hold a forum
Subscribe for More Information
March 22, 2015
11:26 EDTAXPAmerican Express to host investor day
Subscribe for More Information
March 20, 2015
16:28 EDTBVDiscovery Group reports 5.5% stake in Bazaarvoice
Subscribe for More Information
10:00 EDTERICOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Actuant (ATU) downgraded at Stifel... American Capital Mortgage (MTGE) downgraded to Hold from Buy at Wunderlich... Campus Crest (CCG) downgraded at RBC Capital... Care.com (CRCM) downgraded to Neutral from Overweight at JPMorgan... Electrolux AB (ELUXY) downgraded to Neutral from Overweight at JPMorgan... Ericsson (ERIC) downgraded to Equal Weight from Overweight at Morgan Stanley... Extreme Networks (EXTR) downgraded at Raymond James... PrivateBancorp (PVTB) downgraded to Market Perform from Outperform at BMO Capital... TD Ameritrade (AMTD) downgraded to Neutral from Buy at Goldman... Tableau (DATA) downgraded at Mizuho... Tech Data (TECD) downgraded to Hold from Buy at Needham... Tesoro (TSO) downgraded at Wells Fargo... Ultra Clean (UCTT) downgraded to Hold from Buy at Needham... Vince Holding (VNCE) downgraded to Neutral from Overweight at Piper Jaffray... Youku Tudou (YOKU) downgraded to Sell from Hold at Deutsche Bank.
09:01 EDTJCPJ.C. Penney says general counsel Janet Dhillon to leave company
J.C. Penney said in a filing that effective March 20, Janet Dhillon, Executive Vice President, General Counsel and Secretary, is leaving J. C. Penney Company.
06:24 EDTERICEricsson downgraded to Equal Weight from Overweight at Morgan Stanley
Subscribe for More Information
March 19, 2015
11:53 EDTWFCU.S. banks face headwinds in unloading oil loans, WSJ says
Subscribe for More Information
09:03 EDTAXPAmerican Express, Charles Schwab confirm co-brand relationship
Subscribe for More Information
08:14 EDTERICWorst case scenario unlikely for Ericsson in Apple lawsuit, says Bernstein
Noting that Apple (AAPL) and Ericsson (ERIC) are involved in patent litigation in which Apple has asked the court to limit Apple's royalty payments to Ericsson to the smallest saleable component containing Ericsson's technology, Bernstein says that Ericsson's IP revenue would be reduced to almost nothing if the court grants Apple's request. However, the firm does not believe that Apple's request has a good legal rationale, and it thinks that the court is "extremely unlikely" to grant it. As a result, the firm is "relaxed" about Ericsson's outlook. It keeps an Outperform rating on the shares.
07:28 EDTAXPAmerican Express, Charles Schwab reach co-brand agreement, Reuters says
American Express (AXP) stated Thursday it has reached a deal with Charles Schwab (SCHW) to offer cards under both company names, reports Reuters. The deal is a multi-year agreement and will involve two kinds of cards, though precise details will not be announced until near the expected launch date in early 2016. Reference Link
07:04 EDTAXPAmerican Express confirms plans to launch Plenti loyalty program
Subscribe for More Information
March 18, 2015
13:30 EDTJCPJ.C. Penney trades lower after news of executive departures
Subscribe for More Information
06:16 EDTAXPAmerican Express to launch Plenti loyalty program this spring, WSJ reports
Subscribe for More Information
March 17, 2015
15:41 EDTJCPJ.C. Penney General Counsel Janet Dhillon leaving, Bloomberg says
Subscribe for More Information
10:59 EDTBBYBest Buy calls active on activist investor speculation
Subscribe for More Information
10:54 EDTBBYRumor: Best Buy moves up on activist investor speculation
Shares of Best Buy are moving higher amid speculation Carl Icahn may have acquired a stake in the company.
09:05 EDTBBYMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
Subscribe for More Information
07:18 EDTERICSatellite & Access Intelligence to hold a exhibition
Subscribe for More Information
06:57 EDTJCPJ.C. Penney CMO leaves company, effective immediately, AdAge reports
Subscribe for More Information
March 16, 2015
12:01 EDTAXPAmerican Express reports February net write-off rate 1.5% vs. 1.4% last month
Reports February 30 days past due loans 1.0% vs. 1.0% last month.
1 | 2 | 3 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use