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Stock Market & Financial Investment News

News Breaks
April 13, 2012
16:16 EDTWFC, JPM, GOOG, AAPL, LNG, CSTR, PWAV, TLBOn The Fly: Closing Wrap
Stocks on Wall Street were lower, as a report that indicated slowing growth in China weighed on sentiment. Stock futures were lower in pre-market trading, leading to a lower open for the market. The selling gained momentum following the slightly disappointing University of Michigan consumer confidence reading. The averages pared their losses by midday but weakness in shares of Google (GOOG) and Apple (AAPL) kept the Nasdaq lagging the other averages. As the news flow began to slow the market drifted in a narrow range, until a late sell-off pushed the averages to new lows into the closing bell... ECONOMIC EVENTS: In the U.S., the headline consumer price index rose 0.3% in March, while the core reading which removes food and energy was up 0.2%, with both readings matching expectations. The consumer sentiment index fell to 75.7, versus expectations of 76.2. In China, the nation's gross domestic product grew at its slowest pace in three years, rising only 8.1%, when published forecasts were near 8.4% and "whisper numbers" for the growth rate were even higher. In Europe, the cost of insuring against a Spanish default jumped to an all-time record as investors fear the nation may become the fourth, and by far the largest, euro-region member to need a bailout... COMPANY NEWS: Wells Fargo (WFC) and JP Morgan (JPM), the nation's two largest home lenders, kicked off bank earnings season by reporting better than expected profits, with strong mortgage results helping revenue at both. However, both banks slid amid a broad decline in financial stocks, with Wells Fargo falling $1.18, or 3.47%, to $32.84 and JP Morgan losing $1.63, or 3.64%, to $43.21... Google's earnings beat consensus estimates but more attention was paid to the company's announcement of a novel new share structure. Google's creation of a new class of nonvoting shares, to be distributed to existing stockholders effectively producing a 2-for-1 stock split, will let the company issue new shares without diluting the foundersí voting power, which raised concern among corporate-governance watchdogs... MAJOR MOVERS: Among the notable gainers were Cheniere Energy (LNG), up $1.12, or 7.13%, to $16.82, ahead of the government's decision on the company's request to build a Louisiana plant to export liquefied natural gas, and Coinstar (CSTR), up $4.47, or 7.29%, to $65.78, after the company pre-announced higher than expected quarterly results. Noteworthy losers included Powerwave Technologies (PWAV), down 84c, or 39.07%, to $1.31, following its forecast of Q1 revenue well below the consensus estimate, and Talbots (TLB), down 46c, or 14.70%, to $2.67, after its Q4 results and Q1 guidance both disappointed... INDICES: The Dow lost 136.99, or 1.05%, to 12,849.59; the Nasdaq fell 44.22, or 1.45%, to 3,011.33; and the S&P 500 dropped 17.31, or 1.25%, to 1,370.26.
News For WFC;JPM;GOOG;AAPL;LNG;CSTR;PWAV;TLB From The Last 14 Days
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September 3, 2014
06:23 EDTGOOGGoogle satellite exec Greg Wyler leaves company, sources say, WSJ reports
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06:22 EDTGOOGGoogle, UCSB partner on hardware initiative
Google yesterday said it is backing a project to design and build "new quantum information processors" with researchers at the University of California at Santa Barbara. Google comments, "With an integrated hardware group the Quantum AI team will now be able to implement and test new designs for quantum optimization and inference processors based on recent theoretical insights as well as our learnings from the D-Wave quantum annealing architecture. We will continue to collaborate with D-Wave scientists and to experiment with the 'Vesuvius' machine at NASA Ames which will be upgraded to a 1000 qubit 'Washington' processor." Reference Link
06:20 EDTAAPLSupply chains ramp up component production for 9.7-inch iPad, DigiTimes says
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September 2, 2014
16:25 EDTAAPLOn The Fly: Closing Wrap
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16:00 EDTAAPLOptions Update; September 2, 2014
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14:32 EDTAAPLApple says no breach in iCloud or Find my iPhone
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14:26 EDTGOOGGoogle renames Google Enterprise products Google for Work
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12:09 EDTAAPLOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq clinging to narrow gains and the Dow and S&P both down about 0.25%. Stocks began the session basically unchanged but turned mixed within minutes of the open. The volume has been light and the market has moved in a narrow range, continuing the type of pattern that was seen all of last week ahead of the holiday. ECONOMIC EVENTS: In the U.S., Markit's final manufacturing PMI for August dipped slightly from the flash print of 58.0 to 57.9, but that was up from July's 55.8 reading. ISM's manufacturing index for August climbed to 59.0 from 57.1 in July, beating expectations. Construction spending bounced back 1.8% in July, beating expectations for it to have risen 1.0% after declining in the prior month. In Asia, HSBC's final manufacturing PMI for China edged down to 50.2 from the preliminary 50.3 August reading, which was already down from the 51.7 report in July. The Chinese government's official purchasing managers index came in at 51.1 for August, which was down from its 51.7 reading in July. In Europe, the Eurozone's final manufacturing PMI for August was revised down to 50.7 from 51.8 in the preliminary reading. COMPANY NEWS: Apple (AAPL) was in the headlines following a celebrity photo hack involving several of its iCloud accounts. Despite the negative publicity from those events, the stock gained nearly 1% after noted Piper Jaffray analyst Gene Munster raised his price target on the tech giant's shares to $120 from $105, citing the upcoming launch of new products and services. Another firm, Cantor, said in its own note to investors that it believes that Apple will have its most exciting product launches "in many years" over the next few months... In M&A news, Dollar General (DG) rose almost 1% after increasing its all-cash proposal to buy Family Dollar (FDO) to $80.00 per share and also increasing the number of stores that it would be willing to agree to divest to 1,500 if ordered by the FTC. Shares of Family Dollar, which previously rejected Dollar General's prior proposal on the basis of antitrust regulatory concerns, traded above the new offer price, while Dollar Tree (DLTR), which currently has a merger agreement deal in place with Family Dollar, also gained 1.5%. MAJOR MOVERS: Among the notable gainers were two other companies involved in M&A, one which was a buyer and one which was bought. Norwegian Cruise Line (NCLH) advanced 12% after agreeing to acquire upscale peer Prestige Cruises for $3.03B, while Compuware (CPWR) rose over 12% after the company confirmed it agreed to be acquired by private equity investment firm Thoma Bravo in a transaction valued at approximately $2.5B. Among the noteworthy losers was Exelixis (EXEL), which plunged 53% after its phase 3 pivotal trial of cabozantinib in certain men with metastatic castration-resistant prostate cancer did not meet its primary endpoint and the stock was downgraded by at least three Street research firms. Also lower was lease-to-own retailer CONN'S (CONN), which dropped 30% and was downgraded at Piper Jaffray after weakness in its credit operations prompted a Q2 earnings miss and caused the company to cut its fiscal year guidance. INDEXES: Near midday, the Dow was down 43.58, or 0.25%, to 17,054.87, the Nasdaq was up 2.97, or 0.06%, to 4,583.24, and the S&P 500 was down 4.83, or 0.24%, to 1,998.54.
11:03 EDTAAPLApple hits another fresh life high, levels to watch
Despite headlines concerning a high-level iCloud security breach targeting celebrity accounts, the stock is edging to a fresh life high this morning. Traders appear more focused on the upcoming product announcement on September 9th. At the current price of $103.65, there is no overhead resistance. A new upside objective for the bulls would potentially be at $105 or $107, both typical and currently active options strike prices. Support is at $102.50, the prior closing price.
10:33 EDTAAPLApple price target raised by noted analyst ahead of launches
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09:41 EDTAAPLActive equity options trading on open
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09:22 EDTGOOGGoogle expected to launch low-end smartphone soon, NDTV Gadgets reports
Google has sent out invitations to the media for an event on September 15 in India, according to NDTV Gadgets. The search engine giant is expected to launch a low-end smartphone known as Android One at the event, NDTV stated. Reference Link
08:58 EDTGOOGVringo preparing to seek further review of Court split decision
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07:09 EDTAAPLApple new product launch to be most exciting in years, says Cantor
Cantor believes that over the next few months Apple will have its most exciting product launch "in many years." The firm thinks the 4.7 inch and 5.5 inch iPhones may not be made available for purchase simultaneously, while the company's watch could be announced next week but not be made available immediately. The firm keeps a $123 price target and Buy rating on the shares.
06:34 EDTAAPLApple cuts iPad mini prices as non-Apple vendors may follow, DigiTimes says
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06:34 EDTAAPLApple's iWatch still under EVT stage, DigiTimes reports
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06:14 EDTAAPLT-Mobile planning September 10 'Uncarrier' event, Re/code reports
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06:13 EDTAAPLApple has discussed $400 price tag for wearable device, Re/code reports
Apple has considered putting a $400 price tag on its new wearable device, Re/code reports. It is not clear whether the price will be firmed up before its September 9 press conference. Reference Link
06:05 EDTAAPLApple investigating hack relating to violation of iCloud accounts, Re/code says
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05:54 EDTAAPLApple price target raised to $120 from $105 at Piper Jaffray
Piper Jaffray analyst Gene Munster raised his price target on Apple shares to $120 from $105 citing the company's upcoming launch of new products and services. Munster expects Apple to unveil the iPhone 6 with two new screen sizes at the September 9 event, and he sees a 70% chance of an announcement around payments. Munster pegs at the chances of an iWatch announcement at 50%. He expects Apple shares to move higher through year-end and keeps an Overweight rating on the stock.
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