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Stock Market & Financial Investment News

News Breaks
August 29, 2012
16:27 EDTWLP, C, YELP, JOSB, DY, ARQLOn 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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July 11, 2014
10:28 EDTCURS Corporation working with banks on potential sale, Reuters reports
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09:37 EDTCActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL WFC C SUNE FB AMZN TSLA TWTR
07:20 EDTCBig banks seen losing reserve release cushion, Reuters says
Releasing loan-loss reserves has helped U.S. big banks weather a period of weak loan demand and lower fee income, but Q2 results from the banks may see less benefit from the practice as loss rates and reserves near their lower limits, said Reuters. Publicly traded companies in the space include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
July 10, 2014
19:38 EDTYELPYelp says Google results favoring Google+ local listings, WSJ reports
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10:46 EDTYELPYelp retreats after analyst says review growth slowed
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10:06 EDTYELPYelp falls after price target cut, levels to watch
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09:56 EDTYELPYelp price target lowered to $86 from $106 at Feltl
Feltl lowered Yelp's price target to $86 from $106 following checks that indicate business deceleration and a notable slowdown in U.S. sequential growth of total reviewed businesses to 3% in Q2 from 8% in Q1. Shares remain Buy rated.
07:11 EDTWLPAetna, WellPoint top large-cap Managed Care picks at Jefferies
Jefferies calls Aetna (AET) and WellPoint (WLP) its favorite large-cap picks in the Managed Care space, with Health Net (HNT) its favored name in the small to mid-cap space. The firm believes the market is already expecting strong Q2 results from the sector, and it downgraded UnitedHealth (UNH) to Hold from Buy on valuation and below-peer earnings growth. Jefferies has Buy ratings on Aetna, Health Net, Molina Healthcare (MOH) and WellPoint.
06:23 EDTWLPHealth insurers moving away from fee for service model, NY Times reports
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06:20 EDTCCalifornia, New York among states to share in Citigroup settlement, LA Times say
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05:49 EDTYELPYelp review growth outpacing Google Plus, says Piper Jaffray
Piper Jaffray says its data shows that despite being a more mature platform, Yelp (YELP) continues to outpace Google Plus (GOOG) in terms of review growth. Yelp reviews over the past month have increased by 3% versus Google's up 2%, Piper says. The firm remains positive on Yelp shares with an Overweight rating and $80 price target.
July 9, 2014
06:59 EDTYELPYelp formally opposed the EU's antitrust settlement with Google, NY Times says
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06:51 EDTCBofA also in talks with DOJ to settle civil probes over mortgage unit, WSJ says
In addition to the talks with Citigroup (C), the Department of Justice has also has been in talks with Bank of America (BAC) to resolve civil probes over its mortgage business, the Wall Street Journal reports. Reference Link
06:37 EDTCCitigroup close to settling mortgage probe for $7B, NY Times reports
Citigroup is nearing a deal with the Justice Department, under which the bank would pay about $7B to settle a civil probe of mortgage investments it sold, according to The New York Times. Dow Jones yesterday reported that Citigroup would pay about $4B to settle the probe. Reference Link
05:56 EDTYELPStocks with implied volatility movement; YELP SD
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July 8, 2014
16:56 EDTCCitigroup near $4B settlement with U.S. over mortgage probe, CNBC says
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16:33 EDTCCitigroup near multi-billion settlement with U.S. over mortgage probe, DJ says
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10:45 EDTYELPYelp volatility increases on wide price movement
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07:45 EDTCCitigroup July volatility flat into Q2 and outlook
Citigroup July call option implied volatility is at 24, August, September and December is at 18; compared to its 26-week average of 23 according to Track Data, suggesting non-directional near term price movement into the expected release of Q2 results on July 14.
06:08 EDTCCitigroup assumed with a Market Perform at Keefe Bruyette
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