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Stock Market & Financial Investment News

News Breaks
July 29, 2014
17:06 EDTPGTI, CTL, FTR, CLF, VZ, WIN, GLW, UPS, TOn 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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December 9, 2014
10:38 EDTVZVerizon CFO Shammo says not interested in doing large international M&A deal
CFO Fran Shammo sees wireless CapEx continuing to trend up, sees wireline CapEx continuing to trend down. Says does not believe wireless CapEx will decline. Shammo commented that ""The day we start to cut wireless CapEx is the day we start to wonder where the future of this industry is going." Says dividend policy "very important." Says doesn't see share buybacks until balance sheet is delevered.
10:28 EDTVZ, TVerizon drops after warning about promotional impact on profits
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10:27 EDTVZVerizon CFO says would sell towers for 'right price, right terms'
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10:23 EDTVZOn The Fly: Analyst Downgrade Summary
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10:17 EDTVZVerizon CFO Shammo says sees promotional pricing 'settling down' in 2015
Says Q4 has been a "pretty exciting" period, says seeing increase in activations, but seeing some increase in churn as well. Says has seen high volume in Q4 sales. Says continues to see strong momentum for wireless customer growth in Q4. Sees promotional pricing "settling down" in 2015. Shammo says social media, press has built this up as a price war; says rival's half-priced promotion "not as dramatic" as it looks. Says tablets a "tremendous" growth area for industry. Says streaming TV to mobile to begin in mid-2015. Says that over time, company believes can increase margins. Comments made at the UBS Global Media & Communications Conference. Verizon shares are down 3.8% to $47.04 in morning trading.
09:38 EDTVZActive equity options trading
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08:35 EDTGLWCorning Gorilla Glass 4 chosen for Samsung Galaxy ALPHA
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07:46 EDTUPSUPS management to meet with UBS
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07:40 EDTVZVerizon competition increased, company should be able to respond, says Canaccord
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07:32 EDTVZ, CTL, TUBS to hold a conference
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06:15 EDTVZVerizon downgraded at RW Baird
As previously reported, Baird downgraded Verizon to Neutral from Outperform. The firm downgraded shares citing last night's negative pre-announcement due to increasing competitive concerns, margin pressures, higher churn, and full valuation. Price target lowered to $50 from $54.
06:01 EDTVZVerizon downgraded to Neutral from Outperform at RW Baird
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December 8, 2014
18:24 EDTVZ, TOn The Fly: After Hours Movers
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17:05 EDTVZVerizon sees Q4 impacts of promotional offers will pressure wireless EBITDA, EPS
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09:03 EDTCTLCenturyLink awarded task order from Department of Homeland Security
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08:11 EDTUPSUPS management to meet with UBS
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08:06 EDTFTRFrontier Communications now sees FY14 CapEx $575M-$600M
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07:23 EDTFTRUBS to hold a conference
42nd Annual Global Media & Communications Conference is being held in New York on December 8-10 with webcasted company presentations to begin on December 8 at 8 am; not all presentations may be webcasted. Webcast Link
December 5, 2014
07:12 EDTUPSUPS management to meet with UBS
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06:01 EDTTTechNet: Combined AT&T/DirecTV will increase broadband development
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