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Stock Market & Financial Investment News

News Breaks
August 29, 2012
16:27 EDTARQL, YELP, DY, C, JOSB, WLPOn The Fly: Closing Wrap
Stocks on Wall Street were slightly higher as the Fed's Beige Book and reports on second quarter economic growth and July pending home sales were all encouraging. Stock futures were generally quiet in premarket trading but rose a bit after the GDP revision, leading to a slightly higher open for the broader market. The averages moved in a very narrow range for much of the day before solidifying in positive territory after the Beige Book said that moderate expansion in the economy had continued since the last report. A late day fade dented the gains, but the averages hung on to post modest increases... ECONOMIC EVENTS: The Federal Reserve's Beige Book, its anecdotal account of the state of the economy, stated that economic activity in nine of the Fed's 12 districts rebounded. The U.S.'s second estimate of Q2 GDP growth was revised up to 1.7% from 1.5%, as expected, and Q2 personal consumption growth was revised upward to 1.7% from a prior 1.5% estimate as well. Pending home sales grew 2.4% on a month-over-month basis in July, which was ahead of forecasts... COMPANY NEWS: WellPoint (WLP) rose $4.41, or 7.68%, to $61.80 as investors responded favorably to the decision of its CEO, Angela Braly, to submit to shareholder pressure and resign... Citigroup (C) agreed to pay $590M to settle a shareholder lawsuit that claimed it misled investors about the bank's growing problems before the financial crisis... MAJOR MOVERS: Among the notable gainers were Yelp (YELP), up $4.11, or 22.51%, to $22.37, with the move attributed to a short squeeze after an IPO lockup period expired, and JoS. A Bank (JOSB), up $5.81, or 13.96%, to $47.44, after its earnings and revenues beat expectations. Noteworthy losers included Dycom (DY), down $3.60, or 19.07%, to $15.28, and ArQule (ARQL), down $1.24, or 18.51%, to $5.46, following their earnings reports... INDICES: The Dow gained 4.49, or 0.03%, to 13,107.48; the Nasdaq rose 4.05, or 0.13%, to 3,081.19; and the S&P 500 advanced 1.19, or 0.08%, to 1,410.49.
News For WLP;C;YELP;JOSB;DY;ARQL From The Last 14 Days
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February 26, 2015
09:05 EDTDYDycom price target raised to $48-$50 from $41-$43 at Wells Fargo
Wells Fargo increased its price target on Dycom as the firm thinks the company reported very strong Q2 results. The firm says the company's strong bookings bode well for its future results. It keeps an Outperform rating on the shares.
07:38 EDTDYDycom price target raised to $49 from $42 at Stifel
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February 25, 2015
18:24 EDTYELPOn The Fly: After Hours Movers
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17:36 EDTCCiti discloses money laundering inquiries, says fully cooperating
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16:21 EDTYELPYelp initiated with an Overweight at Morgan Stanley
Target $62.
February 24, 2015
16:34 EDTDYDycom sees Q3 EPS 33c-40c, consensus 31c
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16:33 EDTDYDycom reports Q2 EPS 27c, may not compare to consensus 10c
Reports Q2 revenue $441.1M, consensus $419.75M.
16:31 EDTDYDycom announces $40M stock repurchase program
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16:06 EDTCOptions Update; February 24, 2015
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07:21 EDTCSecurities Industry & Financial Markets Association to hold a conference
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February 23, 2015
16:00 EDTCOptions Update; February 23, 2015
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09:39 EDTCActive equity options trading on open
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February 20, 2015
16:20 EDTCOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory with time running out for Greece to reach an extension of its bailout agreement. The morning was filled with headlines from both Greek and eurozone finance leaders, many of which indicated that prospects for a deal looked grim. When reports surfaced that an agreement on an extension had been reached the Dow took off and hit its first new high of 2015. The S&P 500 followed to its own new high and the Nasdaq continued to close in on the 5,000 level. ECONOMIC EVENTS: In the U.S., Markit's flash PMI rose to 54.3 in February, versus the consensus forecast for a preliminary reading of 53.6 for the month. In Europe, the Eurogroup and Greece reached a tentative deal for an extension of the current EFSF Master Financial Assistance Facility Agreement for up to four months. The deal is predicated on Greek authorities presenting a first list of reform measures, based on the current arrangement, by the end of Monday. Also, the Eurozone flash composite PMI came in at 53.5, versus expectations for a reading of 53. The services PMI was better than expected, while the manufacturing PMI was lower than expected. COMPANY NEWS: Deere reported Q1 earnings per share of $1.12 and revenue of $6.38B, which beat consensus forecasts of 84c and $5.59B, respectively. However, Deere said company equipment sales are projected to decrease about 17% for fiscal 2015 and now sees net income to be about $1.8B, which is down from the company's prior net income outlook of $1.9B. Analysts at Wells Fargo calculate that the implied EPS guidance from Deere dropped to $5.25 from $5.50. Consensus for FY15 EPS prior to Deere's report was $5.51. Shares of the farm, construction and forestry equipment maker rose 72c, or 0.79%, to $92.43 following this morning's report. MAJOR MOVERS: Among the notable gainers was National Bank of Greece (NBG), whose shares trading in New York jumped 35c, or 21.74%, to $1.96 after the Greek aid extension deal was negotiated. Also higher was Springleaf (LEAF), which gained $4.40, or 12.88%, to $38.57 after Reuters reported that the company has beaten out rival bidders and is in advanced talks to buy consumer finance unit OneMain Financial from Citigroup (C) for more than $4B. Two stock that dropped after their earnings reports prompted multiple analyst downgrades were Noodles & Company (NDLS), which plunged $8.84, or 31.87%, to $18.90, and Rocket Fuel (FUEL), which fell $3.95, or 26.74%, to $10.82. INDEXES: The Dow rose 154.67, or 0.86%, to 18,140.44, the Nasdaq gained 31.27, or 0.63%, to 4,955.97, and the S&P 500 advanced 12.85, or 0.61%, to 2,110.30.
15:05 EDTCSpringleaf in lead to buy OneMain for over $4B, Reuters says
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14:18 EDTCSpringleaf in advanced talks to buy OneMain from Citi for over $4B, Reuter says
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10:47 EDTCNY AG says Santander Bank to adopt new policies regarding use of ChexSystems
New York Attorney General Eric T. Schneiderman announced that Santander Bank, N.A. (SAN) has agreed to adopt new policies governing its use of ChexSystems, a consumer-reporting agency that screens people seeking to open checking or savings accounts. Santanderís new policies are expected to allow thousands of additional New Yorkers and consumers nationwide to open bank accounts by September 30. The change comes amid concerns that screenings by ChexSystems and other consumer-reporting agencies, which are used by most of the nationís banks, adversely affect lower-income applicants and force them to turn to high-cost alternative financial services like check-cashing outlets. With this agreement, Santander now joins Capital One (COF) and Citibank (C) as the third bank to commit to overhaul its use of ChexSystems. The three banks operate a combined 613 branches across New York State and 2,822 branches nationwide.
09:49 EDTYELPYelp initiated with a Buy at Rosenblatt
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08:54 EDTCCiti confirms retirement of global consumer banking head Manuel Medina-Mora
In a filing, Citigroup said that on February 18, Manuel Medina-Mora, Citiís Co-President and CEO, Global Consumer Banking, submitted a notice of retirement to Citi. The effective date of the retirement is June 1.
08:43 EDTCCiti's head of consumer banking set to retire in June, WSJ reports
Citigroup co-president and head of consumer banking, Manuel Medina-Mora, is planning to retire in June, The Wall Street Journal reports, citing memos sent by Medina-Mora and Citigroup CEO Michael Corbat. Medina-Mora is expected to stay with the bank as the non-executive chairman of Banamex. Citigroup plans to name a new head of the consumer bank "in the near future." Reference Link
08:34 EDTYELPYelp suing companies over fake positive reviews, NY Post says
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