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Stock Market & Financial Investment News

News Breaks
July 11, 2014
12:36 EDTWFC, LO, RAI, AMZN, MTG, RCII, JOEZOn The Fly: Midday Wrap
Stocks on Wall Street were mixed and fairly flat at midday as fears about Europe's periphery may have lessened a bit after stock markets in Portugal rebounded, though they have not left the picture by any means. The day's big events stateside, including the earnings report from Wells Fargo (WFC) and the confirmation that Lorillard (LO) and Reynolds American (RAI) are in talks about a potential tie-up, have not been enough so far to encourage buyers to step in with conviction. ECONOMIC EVENTS: In the U.S., no economic data was reported early in the session. The June federal budget statement is expected to be released at 2:00 pm ET, with analysts predicting a $79.0B surplus for the month. COMPANY NEWS: Shares of Wells Fargo, the nationís largest mortgage lender and the first major U.S. bank to report on its second quarter results, slipped xx% near noon after posting earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard advanced 3%, while Reynolds American fell 2%, after the two cigarette makers confirmed earlier today that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks. MAJOR MOVERS: Among the notable gainers was Amazon.com (AMZN), which climbed 4.5% after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Also higher was Joe's Jeans (JOEX), which rose 16% and was upgraded to Buy at B. Riley following the company's Q2 earnings report. Among the noteworthy losers was Rent-A-Center (RCII), which plunged 11% after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower was MGIC Investment (MTG), which fell nearly 11% and was removed from Goldman's Conviction Buy list due to increased uncertainty from the release of the FHFA's proposed private mortgage insurer eligibility requirements. INDEXES: Near midday, the Dow was down 26.29, or 0.16%, to 16,888.78, the Nasdaq was up 5.66, or 0.13%, to 4,401.86, and the S&P 500 was down 2.71, or 0.14%, to 1,961.97.
News For WFC;LO;RAI;AMZN;MTG;RCII;JOEZ From The Last 14 Days
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October 9, 2014
16:03 EDTJOEZJoe's Jeans reports Q3 EPS 0c, consensus 1c
Reports Q3 revenue $52.7M, consensus $51.58M. SSS down 2% for the quarter
16:00 EDTAMZNOptions Update; October 9, 2014
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15:24 EDTJOEZNotable companies reporting after market close
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14:35 EDTAMZNAmazon.com falls to lows of the day, levels to watch
The shares are down over 2% and just off the lows of the session at $315.33. At current price, resistance is at $317.13. Support is at $315.33 and then at $314.14.
14:34 EDTAMZNAmazon plans first physical retail store in NYC, WSJ reports
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14:23 EDTAMZNAmazon plans first physical retail store in NYC, DJ reports
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11:22 EDTWFCWells Fargo October volatility increases into Q3 and guidance
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06:33 EDTAMZNCourt considers whether to pay Amazon workers for security checks, WSJ says
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06:26 EDTAMZNGoogle's tax arrangement facing new challenge by France, WSJ reports
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October 8, 2014
17:53 EDTAMZNAmazon.com expands operations in Costa Rica, creates more than 1,000 new jobs
Amazon Support Services in Costa Rica inaugurates its fourth service center and announces 1,000 new jobs at its offices located in Calle Blancos and Lagunilla. The Earth's most customer centric company offers seasonal jobs and permanent positions with open dress code, paid training, transportation, doctor on site, plus others. The new operation comes as part of the $19M accumulated investment by 2014. With the company's expansion and the ongoing hiring of staff at its other sites, Amazon expects to employ more than 3,000 persons in Costa Rica by the end of 2014.
16:01 EDTAMZNOptions Update; October 8, 2014
iPath S&P 500 VIX Short-Term Futures down 2.73 to 29.51. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX PBR AA CLF GILD according to Track Data.
11:41 EDTAMZNJ.C. Penney says store base count 'roughly' where it needs to be
Says evaluating stores to see if EBITDA accretive. Says "disciplined" regarding promotions. Says won't risk margin over promotions. Says Apple (AAPL), Samsung (SSNLF), Amazon (AMZN) taking "chunk" out of consumer spending. Sees returning to 37%-39% gross margins over time.
10:00 EDTRCIIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: ADTRAN (ADTN) upgraded to Buy from Neutral at Goldman... Applied Materials (AMAT) upgraded to Outperform from Underperform at CLSA... Bill Barrett (BBG) upgraded to Neutral from Underperform at Macquarie... CNOOC (CEO) upgraded to Buy from Hold at Jefferies... Calamos (CLMS) upgraded to Market Perform from Underperform at Keefe Bruyette... Calix (CALX) upgraded to Buy from Neutral at Goldman... Cimarex Energy (XEC) upgraded to Outperform from Neutral at Macquarie... Cogent (CCOI) upgraded to Outperform from Market Perform at Raymond James... Coty (COTY) upgraded to Neutral from Sell at B. Riley... Dassault Systemes (DASTY) upgraded to Equal Weight from Underweight at Barclays... EOG Resources (EOG) upgraded to Outperform from Neutral at Macquarie... Glu Mobile (GLUU) upgraded to Buy from Hold at Benchmark Co.... Goldcorp (GG) upgraded to Overweight from Neutral at HSBC... Goodrich Petroleum (GDP) upgraded to Neutral from Underperform at Macquarie... Greif (GEF) upgraded at Wells Fargo... PHH Corp. (PHH) upgraded to Outperform from Market Perform at Keefe Bruyette... Parsley Energy (PE) upgraded to Outperform from Neutral at Macquarie... Rent-A-Center (RCII) upgraded to Buy from Neutral at Northcoast... Royal Gold (RGLD) upgraded to Overweight from Underweight at HSBC... Rush Enterprises (RUSHA) upgraded to Strong Buy at Raymond James... Sanchez Energy (SN) upgraded to Outperform from Neutral at Macquarie... Springleaf (LEAF) upgraded to Outperform from Neutral at Macquarie... TC PipeLines (TCP) upgraded to Neutral from Underweight at JPMorgan... Tesco (TSCDY) upgraded to Neutral from Underweight at HSBC... Vocera (VCRA) upgraded to Outperform at FBR Capital.
09:42 EDTAMZNeBay SSS rose 8.9% in September, Amazon SSS up 37.9%, ChannelAdvisor says
Amazon's (AMZN) September SSS rose 37.9%, a decrease compared to August's 45.1%, ChannelAdvisor reported. eBay's (EBAY) September came in at 8.9% up from August's 5.9%, but below the e-commerce growth rate. "This is the first up-tick in eBay SSS since June and indicates that eBay is recovering from the breach and Google issues," ChannelAdvisor stated. Reference Link
09:14 EDTRCIIRent-A-Center upgraded to Buy from Neutral at Northcoast
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07:20 EDTWFCCapital Link to hold a forum
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07:13 EDTWFCBank dealers agree to revised derivatives rules, FT reports
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06:56 EDTWFCBarclays lists several Large-Cap banks with the most Q3 upside
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06:53 EDTAMZNAmazon has not enacted Luxembourg special tax agreements, Reuters says
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06:13 EDTAMZNNon-Apple notebook, tablet demand to be weak till 2Q15, DigiTimes reports
Demand for non-Apple (AAPL) notebooks and tablets may remain weak until the second quarter of 2015, reports DigiTimes. Citing Taiwan makers, the pressure due to booming sales from Apple products may decrease sales until Microsoft (MSFT) launches Windows 10 next year. Demand for Samsung (SSNLF), Sony (SNE) , And HTC smartphones have also dropped worldwide recently. Reference Link
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