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News Breaks | | | | January 11, 2013 | | 16:29 EDT |  | WFC, AXP, RIMM, BBY, UPIP, ERIC, DNDN, ARQL, BV | On The Fly: Closing Wrap
Stocks on Wall Street were mixed on the day as the averages traded in a narrow range, spending time on either side of the flat-line before moving modestly higher into the close. Wells Fargo (WFC), the first of the major U.S. banks to report earnings, announced its results before the open and the bank's shares lost just less than 1% on the session... 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 estimates, however, Wells’ Q4 net interest margin slid 10 basis points from the prior quarter to 3.56% and shares lost 30c, or 0.85%, to close at $35.10... American Express (AXP) announced after yesterday's close that it plans to cut 5,400 jobs by the end of the year, and shares gained 45c, or 0.74%, to $61.24 in today's trading. AmEx also reported cardmember spending rose 8% in Q4 and reported preliminary Q4 EPS that beat consensus estimates.... Shares of Research in Motion (RIMM) gained $1.64, or 13.76%, to $13.56 on the day on trading volume more than double the stock's daily average, with shares closing near their pre-earnings level... MAJOR MOVERS: Among the notable gainers was Best Buy (BBY), which gained $2.00, or 16.38%, to $14.21 after the company reported holiday period SSS were flat. Also higher were shares of Unwired Planet (UPIP), up 56c, or 42.75%, to $1.87 after the company announced a patent purchase agreement with Ericsson (ERIC) and the stock was upgraded to Outperform at Northland. Dendreon (DNDN) also gained $1.07, or 20.98%, to $6.17 on the day after Bernstein upgraded the stock to Outperform from Market Perform with a $10 price target. Among noteworthy losers were ArQule (ARQL), down 34c, or 11.64%, to $2.58 after a Phase 2 trial for its cancer treatment failed to meet its primary endpoint, and Bazaarvoice (BV), down 84c, or 11.21%, to $6.65, after the Department of Justice filed an antitrust suit against the company and its stock was downgraded to Market Perform at BMO Capital... INDICES: The Dow was up 17.21, or 0.13%, to 13,488.43; the Nasdaq was up 3.87, or 0.12%, to 3,125.63; the S&P 500 was down 0.07, or 0.00%, to 1,472.05. | |
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News For WFC;AXP;RIMM;BBY;UPIP;ERIC;DNDN;ARQL;BV From The Last 14 Days Check below for free stories on WFC;AXP;RIMM;BBY;UPIP;ERIC;DNDN;ARQL;BV the last two weeks. |
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| May 21, 2013 | | 10:20 EDT |  | BBY | Best Buy down over 3% in volatile trading, levels to watch
 Subscribe for More Information | | | 09:25 EDT |  | BBY | On The Fly: Pre-market Movers
Subscribe for More Information | | | 09:16 EDT | | ERIC | Ericsson to close down telecom cable manufacturing
Subscribe for More Information | | | 07:43 EDT |  | ERIC | FierceWireless to host a breakfast meeting
Pre-Conference Breakfast at CTIA 2013 is being held in Las Vegas on May 21 at 10:30 am. | | | 07:26 EDT | | WFC | Barclays to host a conference
Subscribe for More Information | | | 07:13 EDT |  | WFC | U.S. bank mergers less likely this year, Bloomberg reports
Subscribe for More Information | | | 07:09 EDT | | BBY | Best Buy expects investment in price competitiveness to continue into Q2
Subscribe for More Information | | | 07:07 EDT | | BBY | Best Buy reports Q1 SSS fell 1.3%
Subscribe for More Information | | | 07:03 EDT |  | BBY | Best Buy reports Q1 adjusted EPS 32c, consensus 25c
Reports Q1 revenue $9.38B, may not compare to consensus $10.64B. Reports Q1 SSS down 1.3%. | | | May 20, 2013 | | 15:22 EDT | | BBY | Notable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Home Depot (HD), consensus 77c; Medtronic (MDT), consensus $1.03; The TJX Companies (TJX), consensus 62c; AutoZone (AZO), consensus $7.23; Best Buy (BBY), consensus 25c; Dick's Sporting Goods (DKS), consensus 48c; Tidewater (TDW), consensus 61c; Saks (SKS), consensus 19c; Rexnord (RXN), consensus 31c; Monro Muffler Brake (MNRO), consensus 25c. | | | | 15:05 EDT |  | BBY | Best Buy May 27 weekly straddle priced for 9.1% move into Q1
Subscribe for More Information | | | 12:24 EDT | | BBY | Stocks with call strike movement; FSLR BBY
Subscribe for More Information | | | 11:49 EDT | | WFC | Wells, Citi halt most foreclosure sales amid OCC scrutiny, American Banker says
Subscribe for More Information | | | 11:08 EDT | | BBY | Best Buy May weekly volatility elevated at 117 into Q1
Subscribe for More Information | | | 09:58 EDT | | AXP | American Express management to meet with Buckingham
Subscribe for More Information | | | May 17, 2013 | | 12:00 EDT | | BBY | Stocks with call strike movement; FSLR BBY
Subscribe for More Information | | | May 16, 2013 | | 11:37 EDT | | BBY | Stocks with call strike movement; AMD BBY
AMD (AMD) October 4.5 call volatility increased 4% to 58, Best Buy (BBY) June 30 call option implied volatility increased 3% to 63 according to IVolatility. | | | 10:21 EDT | | BBY | Best Buy volatility elevated shares near one-year high into Q1
Best Buy May weekly call option implied volatility is at 71, June is at 61, July is at 55, September is at 51 of 50 is above its 26-week average of 59 according to Track Data, suggesting large near term price movement into the expected release of Q1 earnings on May 20. | | | 09:42 EDT |  | BBY | Best Buy estimates lowered at ITG Research
Subscribe for More Information | | | 08:33 EDT | | WFC | BofA/Merrill's gobal financial analysts hold an analyst/industry conference call
Global Financial Institutions Analysts discuss their Global Financials Quarterly Best Ideas Report on an Analyst/Industry conference call. Relevant companies AIG, ALL, ASBC, BCH, BKU, BBT, BBD, C, CMA, EVER, FITB, FHN, FRC, FULT, HBAN, ING, KEY, MTB, PNC, RF, STI, SUSQ, SNV, HIG, USB, WFC, XL and ZION may be included on the Analyst/Industry conference call to be held on May 16 at 10 am. | | |
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