New User:

-or-
Username:
Password:
Forgot your password?

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
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 >>
January 26, 2016
12:14 EDTTEarnings Watch: AT&T sees Q4 noncash, pre-tax gain of approximately $2.2B
Subscribe for More Information
09:32 EDTGLWActive equity options trading on open
Active equity options trading on open: FB PEP NFLX PM GM RMBS MSFT GLW AAPL
09:32 EDTGLWCorning sees gros margin percentages improving year-over-year in 2H16
Subscribe for More Information
09:28 EDTGLWCorning sees Q1 global economic headwinds to continue in Q1
Corning's (GLW) management said that volume in Q1 will reflect the weaker retail market. Management said that Q1 will be the weakest quarter in the fiscal year. The company sees glass market volumes to be down mid-to-high single digits. The company expects glass market volume growth to begin in Q2. The company sees prices to decline moderately sequentially in Q1. The company sees its optical communications segment up low-to-mid single digits. The company sees environmental sales down approximately 10% in Q1. Corning expects its special materials segment sales down mid teens. The company expects its life sciences sales up low-single digits. Dow Corning, Corning's joint venture with Dow Chemical (DD), equity earnings are expected to be approximately $45M in Q1. Corning sees core gross margin approximately 41% of sales in Q1. Guidance provided during Q4 earnings conference call.
09:05 EDTVZVerizon and Samsung launch network extender solution
Subscribe for More Information
06:55 EDTGLWCorning expects Q1 to be weakest of 2016, growth to recover in Q2-Q4
Subscribe for More Information
06:53 EDTGLWCorning reports Q4 Display Technologies core sales $903M
Subscribe for More Information
06:52 EDTGLWCorning reports Q4 core EPS 34c, consensus 32c
Subscribe for More Information
05:19 EDTFTRStocks with implied volatility movement; CHK FTR
Subscribe for More Information
January 25, 2016
16:00 EDTTOptions Update; January 25, 2016
Subscribe for More Information
14:40 EDTTAT&T volatility elevated into Q4 and outlook
AT&T January weekly call option implied volatility is at 30, February is at 18; compared to its 52-week range of 13 to 27, suggesting large near term price movement into the expected release of Q4 results on January 26.
14:29 EDTGLWNotable companies reporting before tomorrow's open
Subscribe for More Information
14:19 EDTTAT&T technical notes before earnings
The key support level for the shares is at $32.50, the bottom of its trading range for the most part since February 2014. If the news is negative, the $32.50 area could be tested. A breakdown below that level would be a technical negative, voiding years of support. Next downside objectives would then be at $31.52 and $30.54. If the news is a positive surprise, there is long-run level of resistance at $37 that would be the first big upside test. A move above $37 would resolve a nearly 2-year long trading range bullishly. Next resistance would be at $37.86.
12:15 EDTGLWEarnings Watch: Corning sees Q4 LCD glass volume down slightly
Corning (GLW) is expected to report fourth quarter earnings on Tuesday, January 26 before the market open with a conference call scheduled for 8:30 am ET. Corning is a globally diversified technology company. EXPECTATIONS: Analysts are looking for earnings per share of 32c on revenue of $2.33B, according to First Call. The consensus range for EPS is 28c-33c on revenue of $2.3B-$2.36B. LAST QUARTER: Corning reported third quarter core EPS of 34c against estimates for 34c, on revenue of $2.27B against estimates for $2.5B. It reported Q3 core sales of $2.45B. Corning expects Q4 LCD glass volume down slightly, sequentially. Corning announced a strategic and capital allocation framework designed to return more than $10B to shareholders through 2019. As a first step to delivering the plan, Corning's Board of Directors increased the company's share repurchase authorization by $4B. The company also announced plans to commence a $1.25B accelerated share repurchase program during the fourth quarter. Additionally, the company anticipates increasing its dividend per common share by at least 10% annually through 2019. On December 11, Corning announced that it will exchange its 50% interest in Dow Corning Corporation for 100% of the stock of a newly formed entity that will become a wholly owned subsidiary of Corning Incorporated. The newly formed entity will hold approximately 40% ownership in Hemlock Semiconductor Group and approximately $4.8B in cash. Corning expects the realignment to be substantially tax-free. STREET RESEARCH: Street research has been mixed in the weeks leading up to Corning's Q4 earnings report. On November 19, Susquehanna said Corning had recently focused on new end-market opportunities that could help provide growth as display matures. Although the firm noted the company is trying to find opportunities, they saw only 6%-8% accretion to 2017 earnings. Susquehanna reiterated its Positive rating and $22 price target on Corning shares. On December 14, Bernstein said Corning will benefit from the Dow Corning deal. After Corning (GLW) and Dow Chemical (DOW) announced that Corning will exchange its 50% interest in joint venture Dow Corning for a 100% stake in a newly-formed entity that will have $4.8B in cash, Bernstein said that Dow Corning's earnings stream was only worth $2B. The firm kept a $26 price target and Outperform rating on Corning. On December 17, JPMorgan analyst Rod Hall downgraded Corning to Neutral from Overweight saying the weak macro environment is driving slower than expected TV shipments. Corning's valuation is full at current levels, Hall told investors in a research note where he cut his price target for the shares to $18 from $20. PRICE ACTION: Corning's shares are down marginally since Q3 results were released. However, over the past twelve months, the stock has fallen approximately 29%. In early afternoon trading ahead of Tuesday's Q4 report, Corning's shares are down just over 1%.
11:24 EDTGLWOptions with increasing volume
Subscribe for More Information
09:32 EDTGLWApple Active equity options trading on open
Subscribe for More Information
09:08 EDTTAutoZone to deploy AT&T services at its locations in the U.S.
Subscribe for More Information
09:04 EDTVZ, TSprint doubles number of LTE Plus markets
Subscribe for More Information
07:51 EDTPGTIHousing repair and remodel stocks should be bought, says RBC Capital
Subscribe for More Information
07:32 EDTWINTMC to hold a conference
Subscribe for More Information
1 | 2 | 3 | 4 | 5 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the theflyonthewall.com disclaimer & terms of use