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Stock Market & Financial Investment News

News For WFC;AXP;BBY;INFY;UPIP;ERIC;JCP;ARQL;BV From The Last 14 Days
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July 7, 2015
09:42 EDTJCPJ.C. Penney Q2 revenue forecast raised at ITG Research
ITG Research raised J.C. Penney's Q2 revenue forecast to $2.953B from $2.897B, above consensus of $2.862B, based on trends through 1H 2015. The firm's same store sales forecast is +5%-+7% year-over-year, versus consensus of +4%.
July 6, 2015
08:08 EDTARQLArQule announces interim Phase 2 study results for Tivantinib
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July 5, 2015
13:58 EDTERICSome European stocks still look appealing amid Greek uncertainty, Barron's says
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July 1, 2015
10:38 EDTWFCWells Fargo July volatility flat into Q2 and outlook
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07:57 EDTWFCU.S. banks not facing significant direct losses on Greek default, WSJ says
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June 30, 2015
17:34 EDTERICEricsson asks for documents that may be relevant in Apple case, Re/code says
Ericsson (ERIC) has asked a a Taiwanese company, Simplo Technology, thought to be an Apple (AAPL) supplier to hand over documents that may be relevant to its patent dispute case with Apple, says Re/code. Earlier this year, Ericsson filed complaints with the International Trade Commission as well the U.S. District Court in Texas claiming that Apple’s iPhones and iPads violate patents used in setting the 2G and 4G LTE wireless communications standards, added Re/code. Reference Link
15:20 EDTJCPMoody's raises J.C. Penney liquidity rating to SGL-1 from SGL-2
Moody's Investors Service revised J.C. Penney's rating outlook to positive from stable. Moody's also affirmed the company's Caa1 Corporate Family Rating, and raised the company's Speculative Grade Liquidity rating to SGL-1 from SGL-2. "The rating outlook revision to positive from stable reflects Moody's view that JC Penney's operating performance has shown signs of improvement as a result of better merchandising, cost controls, and integration of its online business" said Moody's Vice President Scott Tuhy. He added, "we have seen positive momentum building for the company to achieve $700M to $800M of adjusted EBITDA, a level in which earnings would fully cover cash flow and interest". The upgrade in the Speculative Grade Liquidity rating primarily reflects the company's improved operating performance as we expect free cash flow to be near break-even levels and the company's meaningful cash balances are sufficient to cover expected seasonal working capital needs.
05:38 EDTERICEricsson announces LTE expansion contract with Chunghwa Telecom
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June 25, 2015
07:13 EDTWFCFed director says full transparency in stress testing can be 'enormous weakness'
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June 24, 2015
15:53 EDTBBYSunTrust identifies the most likely M&A activity in specialty retail
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11:11 EDTBBYAnalyst says Best Buy shares poised to rise
Best Buy's (BBY) stock is poised to advance after the company reports its second quarter results, research firm B. Riley predicted. WHAT'S NEW: Best Buy's forecast for increased margins in the second half of the year, along with easing comparisons, should cause the stock to rise, predicted B. Riley in a note to investors earlier today. The shares will be particularly well-positioned to climb after the company updates its guidance following its Q2 results, the firm believes. Best Buy's initiatives should help increase its revenue and profits heading into fiscal 2017 and the retailer can continues to increase its market share at the expense of Sears (SHLD), RadioShack and others. Additionally, macro economic trends remain favorable for Best Buy and its key product categories continue to perform well, according to B. Riley. The firm, which is particularly confident about the company's ability to beat Q4 consensus estimates, keeps a $47 price target on the name and reiterates a Buy rating on the shares. WHAT'S NOTABLE: In their own note to investors this morning, SunTrust analysts David Magee and D. Mitch Van Zelfden speculated on potential M&A activity in the specialty retail space, noting that "Wall Street’s appetite for acquisitions has strengthened recently." In their opinion, Best Buy acquiring GameStop (GME) is among the "most compelling relationships" in the sector, the note explained. PRICE ACTION: In mid-morning trading, Best Buy slid 0.4% to $34.72, while GameStop rose 1.3% to $44.92.
10:38 EDTERICEricsson announces deal with SaskTek to provide M2M connectivity
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10:26 EDTJCPStocks with call strike movement; TWTR JCP
Twitter (TWTR) December 40 call option implied volatility increased 1% to 44, J.C. Penney (JCP) November 20 call option implied volatility decreased 5% to 42 according to IVolatility.
07:27 EDTBBYBest Buy recommended ahead of 2H margin gains at B. Riley
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05:31 EDTERICEricsson provides update on cost and efficiency program
The global cost and efficiency program, announced at Ericsson's Capital Markets Day on November 13, 2014, is progressing according to plan. The ambition is to achieve savings of approximately SEK 9B., with full effect during 2017. As part of the global program, on March 11, 2015, Ericsson announced that 2,200 positions in Sweden, mainly in R&D and Supply, were subject to notice. As the next step of this activity, individuals on different locations in Sweden have been given notice during June. In total, there will be a reduction of approximately 2,100 positions, with some 1,700 employees leaving the company.For Q2, restructuring costs of approximately SEK 2.5B are expected. These estimated costs include normal ongoing restructuring as well as charges related to the cost and efficiency program, this quarter primarily driven by changes in Sweden. Savings related to this specific activity will start to impact results towards the end of 2015.
June 23, 2015
13:02 EDTWFCSumitomo, others show interest in GE railway-leasing business, WSJ says
Japan's Sumitomo Mitsui Financial Group is interested in buying General Electric's (GE) railway-leasing business, says the Wall Street Journal, citing sources. Wells Fargo (WFC) and other U.S. financial institutions have also shown interest in GE Capital Rail Services, which may be worth around $4B, added the Wall Street Journal, citing people familiar with the matter. Reference Link

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