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Stock Market & Financial Investment News

News Breaks
July 29, 2014
17:06 EDTCLF, VZ, WIN, GLW, UPS, T, PGTI, CTL, FTROn 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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November 19, 2014
10:10 EDTCLFCliffs Natural only has nominal value at $85/mt iron ore, says CRT Capital
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09:53 EDTCLFCliffs Natural price target lowered to $4 from $8 at Brean Capital
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07:50 EDTT, VZVerizon trends look strong, says Oppenheimer
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07:23 EDTUPSFedEx, UPS preparing for earlier holiday rush after last year, WSJ says
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07:19 EDTT, VZSpectrum auction positive for DISH, Globalstar, says JPMorgan
JPMorgan notes the AWS-3 spectrum auction continued on Tuesday with the aggregate value of licenses with bids at $16.4B, up from Monday's $8.9B and compared to the reserve price of $10.6B that the FCC set for the entire auction. The firm views the rise in prices as negative for telecom carriers that are spending more than expected, namely AT&T (T) and Verizon (VZ), and possibly T-Mobile (TMUS) and US Cellular. It views the prices as positive for independent spectrum owners like DISH (DISH) and Globalstar (GSAT), as well as tower companies American Tower (AMT), SBA Communications (SBAC) and Crown Castle (CCI).
06:42 EDTTAT&T says feds may need warrant for location data, WSJ says
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06:27 EDTCLFCliffs Natural to pursue exit options for Eastern Canadian iron ore operations
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November 18, 2014
13:28 EDTCLFIron ore, steel stocks lower after iron ore prices, China home prices decline
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11:07 EDTTVOXX unit, AT&T sign international data agreement
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10:10 EDTUPSUPS management to meet with Stephens
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09:31 EDTTAT&T, DirecTV deal receives approval in Mexico
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07:36 EDTGLWUBS to hold a conference
Global Technology Conference to be held in Sausalito, California on November 18-20 with webcasted company presentations to begin on November 18 at 10:45 am; not all company presentations may be webcasted. Webcast Link
07:28 EDTFTRFrontier Communications management to meet with UBS
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06:08 EDTTIntel's 'Mica' bracelet to feature Google alerts, AT&T data plan, Re/code says
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November 17, 2014
17:36 EDTUPSUPS says any unplanned surge during holiday may cost customers, Reuters says
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16:00 EDTTOptions Update; November 17, 2014
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11:39 EDTTAT&T management to meet with Oppenheimer
Meetings to be held in Canada on November 18-19 hosted by Oppenheimer.
10:52 EDTGLWCorning management to meet with UBS
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November 14, 2014
15:56 EDTUPSUPS to hold a webcast
UPS Retiree Webcast is being held on November 17 at 3:30 pm. Webcast Link
12:49 EDTTAT&T management to meet with Jefferies
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