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Stock Market & Financial Investment News

News Breaks
July 29, 2014
17:06 EDTWIN, FTR, T, VZ, CTL, UPS, CLF, PGTI, GLWOn The Fly: Closing Wrap
Stocks on Wall Street were lower amid new sanctions from both the U.S. and Europe against Russia. The sanctions news that came out throughout the session overshadowed a better than expected consumer confidence reading and another round of earnings reports. ECONOMIC EVENTS: In the U.S., the S&P Case Shiller home price index rose 9.34% from the prior year in May to 170.64, which was a bit below the expectation for a 9.9% year-over-year increase. The Conference Board's consumer confidence reading climbed to 90.9 in July from an upwardly revised 86.4 June figure, beating expectations for a 85.4 reading and reaching its highest level since October 2007. Also, the U.S. and European Union both announced new sanctions against Russia, including some against some of the nation's largest banks. COMPANY NEWS: Shares of Windstream (WIN) rose $1.30, or 12.35%, to $11.83 after the company announced that it would spin off some of its assets into a real estate investment trust, or REIT. The implications of the ruling Windstream received from the IRS and the company's plan reverberated throughout the telecommunications sector, as illustrated by Frontier Communications' (FTR) shares also gaining 85c, or 14.31%, to $6.79. However, UBS analyst Scott Arwin said he does not expect large telecom companies like Verizon (VZ) and AT&T (T) to follow Windstream's lead, as he does not think the larger companies will want to open their networks to competitors at regulated rates. Raymond James similarly said it believes Verizon has looked at potential REIT transactions in the past, and that itís doubtful the company would be comfortable not owning its assets and that AT&T and CenturyLink (CTL) may be in similar positions. MAJOR MOVERS: Among the notable gainers was PGT Inc. (PGTI), which gained $2.02, or 27.33%, to $9.41 after reporting better than expected quarterly results and agreeing to buy CGI Windows & Doors for about $111M. Also higher was Cliffs Natural Resources (CLF), which rose $1.03, or 6.21%, to $17.62 after activist shareholder Casablanca Capital announced that all six of its nominees have been elected to Cliffs' board of directors according to preliminary estimates. Among the noteworthy losers was UPS (UPS), which fell $3.80, or 3.7%, to $98.86 after reporting Q2 adjusted earnings per share that missed expectations and lowering its fiscal year earnings outlook, citing its plans to increase operating expenses for capacity and peak season related projects. Also lower were shares of Corning (GLW), which fell $2.05, or 9.3%, to $20.00 after reporting on its Q2 results and guiding its Q3 LCD glass volume to be up by a mid-single digit percentage sequentially. INDEXES: The Dow fell 70.48, or 0.42%, to 16,912.11, the Nasdaq dropped 2.21, or 0.05%, to 4,442.70, and the S&P 500 declined 8.96, or 0.45%, to 1,969.95.
News For WIN;FTR;T;VZ;CTL;UPS;CLF;PGTI;GLW From The Last 14 Days
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October 21, 2014
09:01 EDTVZVerizon says will have 'rational' response to competition in wireless market
09:01 EDTCTLCenturyLink and Switch SUPERNAP announce strategic agreement
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08:55 EDTVZVerizon sees price-sensetive pre-paid customers moving to post-paid
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07:40 EDTVZVerizon reports Q3 retail postpaid ARPA up 3.5% to $161.24
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07:36 EDTVZVerizon backs FY14 target of 4% consolidated top-line growth
FY14 revenue consensus $126.08B. For the full year, results for consolidated adjusted and wireless segment EBITDA service margin will be dependent on Q4 volumes and installment take rates. Wireline segment EBITDA margin remains on track to expand on a full-year basis, Verizon said.
07:34 EDTVZVerizon sees FY14 capital spending near $17B
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07:33 EDTVZVerizon CEO says seeing continued, healthy demand for wireless, broadband
Verizon Communications Chairman and CEO Lowell McAdam said: "We have great confidence heading into the fourth quarter, as Verizon continues to deliver consistently strong operating and financial results. We see continued, healthy customer demand for wireless and broadband services, and we are encouraged by the growth we are starting to see in the areas of video delivery and machine-to-machine. Our cash generation remains strong, and last month we were pleased to announce board approval of a quarterly dividend increase for the eighth consecutive year."
07:32 EDTVZVerizon reports Q3 EPS 89c, consensus 90c
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October 20, 2014
16:39 EDTUPSUPS 2015 rates for ground, air, international,freight, air freight to be up 4.9%
UPS released new published rates for 2015. UPS Ground, Air, International, UPS Freight, and UPS air freight rates within and between the U.S., Canada, and Puerto Rico will increase an average of 4.9%. The increase is effective Dec. 29.
15:36 EDTVZNotable companies reporting before tomorrow's open
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15:19 EDTVZVerizon technical commentary before earnings
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13:53 EDTVZEarnings Preview: Verizon sentiment mixed ahead of Q3 report
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09:22 EDTCLFOn The Fly: Pre-market Movers
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07:17 EDTVZVerizon weekly volatility elevated into Q3 and outlook
Verizon October weekly call option implied volatility is at 25, November and January is at 16; compared to its 26-week average of 15 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 21.
07:15 EDTTAT&T weekly volatility elevated into Q3 and outlook
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06:15 EDTCLFCliffs Natural downgraded to Sell from Neutral at Citigroup
Citigroup downgraded Cliffs Natural to Sell saying the covenant breach and asset writedowns could force the company to cut or eliminate its dividend and stock buyback program. Citi also believes iron ore prices are unlikely to average well above $80/tonne over the next couple of years. The firm lowered its price target for Cliffs shares to $5 from $16.
October 17, 2014
16:01 EDTCLFOptions Update; October 17, 2014
iPath S&P 500 VIX Short-Term Futures down 1.75 to 38.58 Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX GILD CLF PBR according to Track Data.
09:17 EDTCLFOn The Fly: Pre-market Movers
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08:48 EDTCLFBofA/Merrill global steel analysts hold analyst/industry conference call
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06:09 EDTCLFCliffs Natural expects to record non-cash impairment of about $6B in Q3
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