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November 25, 2013
Stocks on Wall Street were higher at midday in the first session of this holiday shortened week. Stocks opened higher on the heels of a deal signed by several world powers that will see Iran limit its nuclear program in exchange for relief from certain economic sanctions, which had a notable impact on oil prices. The averages turned mixed by the end of the first hour of trading following some disappointing home sales data, though the averages have all recovered to be drifting near the flat line in positive ground near noon. ECONOMIC EVENTS: In the U.S., the National Association of Realtors' seasonally adjusted pending home sales index dipped 0.6% to 102.1 in October. The decline marks the fifth straight month that the index has slid, bringing it down to its lowest level since December. The Dallas Fed's manufacturing index fell to 1.9 in November, versus expectations for it to rise to 5.0. Six world powers, namely the U.S., U.K., Russia, China, Germany, and France, agreed to an initial accord that broke a decade-long diplomatic stalemate with Iran. Under the interim deal, Iran will be allowed to enrich uranium to generate nuclear power over the next six months, but has agreed to halt higher-grade production and permit international inspections, in exchange for about $7 billion in relief from certain sanctions on oil, auto parts, gold and precious metals. COMPANY NEWS: Two well-known companies announced significant executive changes, as Wal-Mart (WMT) announced Doug McMillon, the current CEO of Walmart International, will succeed Mike Duke as CEO of the whole company effective February 1, 2014. Troubled smartphone maker BlackBerry (BBRY), which named its own new CEO earlier this month, now said its chief financial officer, chief operating officer, and chief marketing officer are being replaced... J.C. Penney (JCP) will be removed from the S&P 500 upon the close of trading this coming Friday, S&P announced late last Friday. The department store operator will be replaced in the index by Allegion (ALLE), the security business being spun-off of Ingersoll-Rand (IR), which will also remain in the S&P 500. MAJOR MOVERS: Among the notable gainers was Orexigen (OREX), which rose 9% after the company said its obesity drug Contrave met a pre-specified criteria for cardiovascular risk in a study, which will lead the company to resubmit its New Drug Application for the treatment to the FDA in the next few weeks. Also trading higher were shares of several companies involved in dialysis treatment, including DaVita (DVA), which rose 7%, Fresenius Medical (FMS), which gained 7%, and NxStage Medical (NXTM), which advanced nearly 4%. The moves follow a final rule issuance late Friday from the Centers for Medicare & Medicaid Services that updates Medicare policies and payment rates for 2014 for dialysis facilities. Among the noteworthy losers was Uni-Pixel (UNXL), which plunged 16% after the company said late on Friday that the SEC has issued subpoenas related to the companyís agreements related to its InTouch Sensors. Also lower were shares of ADT Corp. (ADT), which fell 7% after the company announced a deal to repurchase 10.24M shares of its common stock from activist investor Corvex Management. INDEXES: Near noon, the Dow was up 27.61, or 0.17%, to 16,092.38; the Nasdaq was up 5.61, or 0.14%, to 3,997.26; and the S&P 500 was up 1.01, or 0.06%, to 1,805.77.
Check below for free stories on WMT;BBRY;JCP;ALLE;IR;OREX;DVA;FMS;NXTM;UNXL;ADT the last two weeks.
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April 11, 2014
07:09 EDTWMTLi & Fung collaborates with Citigroup on brand unit spinoff, Bloomberg says
Li & Fung (LFUGF)) is said to be collaborating with Citigroup (C) to spin off its brands division, which is valued at nearly $2B, according to Bloomberg, citing people with knowledge of the matter. The company's brand unit sells clothing and toys to retailers such as Wal-Mart (WMT) and Kohl's (KSS). Reference Link
April 10, 2014
13:14 EDTWMTFamily Dollar slides after holiday disappointment prompts store closures
Shares of discount retailer Family Dollar (FDO) are falling after the company reported second quarter earnings per share and revenue that fell below expectations, along with third quarter and FY14 projections that are lower than analysts' consensus. WHAT'S NEW: This morning, Family Dollar reported second quarter earnings per share of 80c, which fell below analysts consensus of 90c. The company reported second quarter revenue of $2.72B, while analysts projected $2.77B. Family Dollar, which reported that its second quarter same-store-sales decreased by 3.8%, said the holiday season was challenged by "a more promotional competitive environment and a more financially constrained consumer" and that its results were also significantly impacted by severe winter weather like many retailers. The company expects third quarter earnings per share excluding-items to be 85c-95c, while analysts project a 98c consensus. Family Dollar said that it sees FY14 earnings per share excluding items to be $3.05-$3.25, which is at the lower end of analysts' estimations. Family Dollar noted that it expects to close nearly 370 underperforming stores in the second half of FY14 and slow new store growth beginning in FY15. WHAT'S NOTABLE: During Family Dollar's earnings conference call, the company said that it plans to slow square footage growth in the beginning of FY14 and said that it recently cut about 10% of its corporate workforce. ANALYST OPINION: Wells Fargo analyst Matt Nemer said Family Dollar's third quarter negative comp guidance and commentary about a challenging macro environment could pressure its own shares as well as those of its peers Dollar General (DG) and Dollar Tree (DLTR). However, Family Dollar's store closures combined with a decrease in future store growth could ultimately have positive implications for its competitors, Nemer added. On March 4, Credit Suisse said Family Dollar's underperformance compared to Dollar General and significant earnings possibilities gives the rationale for a potential merger of the two. On February 19, Credit Suisse analyst Michael Exstein suggested that Wal-Mart (WMT) should consider acquiring Family Dollar as a way to "jumpstart" its small store effort. CNBC's David Faber reported the same morning that Exstein published his note that Family Dollar was not holding any talks about selling itself at that time. PRICE ACTION: During afternoon trading, shares of Family Dollar decreased $1.54, or 2.61%, to $57.53, Dollar Tree dropped 2.5%, and Dollar General fell about 1.5%.
12:13 EDTBBRYBlackBerry CEO: No intention of selling handset unit, Globe and Mail reports
BlackBerry CEO John Chen said his comments that he would consider exiting the handset business were taken out of context, and that there are no immediate plans to sell the business, The Globe and Mail reports. Reference Link
06:13 EDTWMTWal-Mart to carry Wild Oats organic food items
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April 9, 2014
19:49 EDTBBRYBlackBerry would consider handset unit sale, Reuters says
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09:10 EDTWMTWal-Mart to purcahse energy-efficient LED ceiling lighting fixtures from GE
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06:28 EDTADT ADT Corp. May volatility increases to 41 into Q2
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April 8, 2014
14:58 EDTDVADaVita entry into Pennsylvania market an important deal, says Wells Fargo
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14:51 EDTDVADaVita HealthCare Partners, Independence Blue Cross announce joint venture
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11:42 EDTJCPStocks with call strike movement; P JCP
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11:03 EDTOREXPiper Jaffray's biopharm analyst holds an analyst/industry conference call
Biopharm Analyst Schimmer discusses PCSK9 Inhibitors and other atherosclerosis approaches on an Analyst/Industry conference call. Relevant companies AEGR, ALNY, AMGN, ARNA, AZN, BMY, CBST, LLY, ESPR, GSK, ICPT, ISIS, MNKD, MRK, OREX, PFE, REGN, RHHBY, SNY and VVUS may be included on the Analyst/Industry conference call to be held on April 10 at 3 pm.
06:56 EDTDVAFinal MA rule a positive for DaVita, says William Blair
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06:17 EDTWMTWal-Mart to expand in India, add e-commerce, wholesale stores, WSJ reports
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April 7, 2014
19:17 EDTBBRYBlackBerry wins patent suit against NXP
BlackBerry (BBRY) announced that a federal jury ruled in favor of BlackBerry in a patent infringement case brought by NXP (NXPI) in the U.S. District Court, Middle District of Florida, Orlando Division. The jury found both that BlackBerry did not infringe NXP's patents, and that the patents NXP asserted against BlackBerry are invalid.
06:28 EDTJCPStocks with implied volatility below IV index mean; SWY JCP
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April 4, 2014
11:31 EDTJCPStocks with call strike movement; JCP TWTR
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08:02 EDTWMTSam's Club extends contract for branded credit card program with GE Capital
Samís Club, a division of Wal-Mart Stores (WMT), has finalized a multi-year agreement with GE Capital Retail Bank (GE) to extend their existing relationship to provide Samís Club-branded credit cards to club members in the U.S. and Puerto Rico. As part of the extension, GE Capitalís Retail Finance business will continue to manage and service the credit card programs for Samís Club Savings, Business and Plus members. Under the agreement, the Samís Club co-branded credit card programs will be converted to MasterCard (MA) later this year. Walmart has also extended their relationship with GE Capital Retail Bank and branded cards will transition to MasterCard later this year.
07:47 EDTFMSBidders for Danone unit narrowed to Nestle, Fresenius, Reuters says
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06:36 EDTBBRYT-Mobile to offer $100 credit to Blackberry customers, Re/code reports
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06:07 EDTJCPStocks with implied volatility below IV index mean; JCP PLUG
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