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Stock Market & Financial Investment News

News Breaks
November 15, 2012
16:32 EDTWMT, BP, NTAP, SZYM, AMD, BG, VELT, OSIS, DNBOn The Fly: Closing Wrap
Stocks on Wall Street finished the day lower after midday buying sent the averages briefly into positive territory, though the averages yet again could not hold onto their gains. Wal-Mart (WMT), which reported earnings before the bell, issued cautious Q4 guidance ahead of the holiday season. Uncertainty also weighed heavily on investors as concerns over the fiscal cliff, which have abounded since the election, were compounded by increased concerns in the Middle East... ECONOMIC EVENTS: In the U.S., initial jobless claims jumped by 78,000 from the prior week to 439,000. Analysts had forecast a smaller rise to 375,000 and the steep climb in claims was partially attributed to Superstorm Sandy. Consumer prices rose 0.1% overall in October, versus the expected increase of 0.1%. The NY Fed Empire State Survey for November had a -5.22 reading, versus the expected -8.00, and the Philadelphia Fed Manufacturing Survey had a reading of -10.7, versus the expected +2.0. In Europe, Eurostat data showed the Eurozone fell back into recession in the third quarter... COMPANY NEWS: Wal-Mart, despite beating consensus estimates for the most recent quarter, provided guidance for the upcoming quarter that was lower than Street estimates. This tempered outlook sent shares of the Dow component lower by $2.59, or 3.63%, to close at $68.72... BP (BP) agreed to plead guilty to felony charges and to pay the largest criminal penalty in U.S. history for the Deepwater Horizon accident. The company said the aggregate amount of the settlement is about $4.5B, with payments scheduled over a period of six years. Shares of BP opened the day higher, but fell through the session and eventually settled fractionally higher, up 14c, or 0.35%, to $40.30... MAJOR MOVERS: Among the notable gainers was NetApp (NTAP), up $3.04, or 11.20%, to $30.16 after its earnings beat expectations and shares were upgraded at Raymond James. Also trading higher were shares of Solazyme (SZYM), up 71c, or 10.01%, to $7.80 after the company announced strategic partnerships with Archer Daniels (AMD) and a subsidiary of Bunge Limited (BG) that will expand the company's oil production capacity. Among noteworthy losers were shares of Velti (VELT), down $2.27, or 34.19%, to $4.37 after the company reported Q3 earnings that missed consensus estimates and the stock received a downgrade to Hold at Needham. Also lower were shares of OSI Systems (OSIS), down $21.40, or 28.05%, to $54.89 after a Bloomberg report said that Congressman Mike Rogers sent a letter to the TSA stating that the company may have "knowingly manipulated" the result of an operational test. The company later issued a statement denying claims made in the Bloomberg report. Dun & Bradstreet (DNB) declined $7.60, or 9.40%, to $73.21 after a late afternoon report by Reuters said talks between the company and its potential buyers fell apart... INDICES: The Dow lost 28.57, or 0.23%, to 12,542.38; the Nasdaq fell 9.87, or 0.35%, to 2,836.94; and the S&P 500 slid 2.17, or 0.16%, to 1,353.32.
News For WMT;BP;NTAP;SZYM;AMD;BG;VELT;OSIS;DNB From The Last 14 Days
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October 10, 2014
09:05 EDTBPBP begins $1.1B North Sea project, Bloomberg says
BP CEO Bob Dudley said that the company is poised to begin a project worth close to $1.1B in the North Sea this month, which is anticipated to supply oil and gas into the next ten years, according to Bloomberg, citing comments from Dudley. Reference Link
October 9, 2014
17:20 EDTSZYMSolazyme says three production facilities in various stages of operations
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16:59 EDTNTAPJefferies initiates IT Hardware space, names Western Digital top pick
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16:22 EDTNTAPNetApp initiated with a Hold at Jefferies
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14:00 EDTAMDTiming of AMD CEO changes suggest another disappointing quarter, says Argus
After AMD announced last night that its CEO has stepped down, Argus notes that the change in the role is the fourth at the company since 2008 and that its suddenness suggests that its just ended quarter, which will be reported on in a week, will be disappointing. The firm believes executive turnover adds to the view that AMDís business model is flawed or broken and Argus maintains its Hold rating on the stock.
10:00 EDTAMDOn The Fly: Analyst Downgrade Summary
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09:20 EDTAMDOn The Fly: Pre-market Movers
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08:08 EDTAMDAMD downgraded at Wedbush
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07:11 EDTAMDAMD downgraded to Neutral from Outperform at Wedbush
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October 8, 2014
18:31 EDTAMDOn The Fly: After Hours Movers
UP AFTER EARNINGS: Ruby Tuesday (RT), up 19.6%... Exar (EXAR), up 13.7% after reporting second quarter revenue guidance... Alcoa (AA), up 2.2%. ALSO HIGHER: Nuance (NUAN), up 2.5% following rumors that Carl Icahn will recommend that Apple (AAPL) buy the company... GrubHub (GRUB), up just under 1% after being initiated with a Buy at CRT Capital. DOWN AFTER EARNINGS: Kofax (KFX), down 20.1% after reporting first quarter revenue and fiscal 2015 revenue guidance below analyst estimates... ARC Group (ARCW), down 17%... E2open (EOPN), down 8.9%. ALSO LOWER: Gap (GPS), down 7.6% following September same store sales data and CEO transition... AMD (AMD), down 7% after announcing CEO transition.
18:21 EDTAMDAMD down 6.7% in after hours trading following departure of Rory Read as CEO
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16:17 EDTAMDAMD appoints Dr. Lisa Su as CEO
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05:58 EDTAMDStocks with implied volatility above IV index mean; AVP AMD
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October 7, 2014
13:40 EDTWMTWal-Mart to host a meeting
21st Annual Meeting for the Investment Community is being held on October 15 at 8:45 am. Webcast Link
10:34 EDTWMTWal-Mart cutting health insurance coverage for most part-time workers, AP says
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07:27 EDTBPEU repreive on oil sands label a victory for Canada, WSJ says
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06:18 EDTAMDAMD to release next-generation notebook APUs, DigiTimes reports
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October 6, 2014
17:31 EDTBPForest Oil agrees to purchase Texas gas properties for $20M
Forest Oil Corporation (FST) said in a regulatory filing that it had agreed to purchase certain oil and gas properties located in the state of Texas together with various other related interests, rights, wells, leasehold interests, records, equipment, and other assets from BP America Production Company, a subsidiary of BP (BP), and Brammer Engineering pursuant to a closing letter agreement dated September 18 from BP, and accepted by Forest and Brammer on the closing date and a deed and assignment and bill of sale dated as of the closing date by and among Forest and the sellers. The assets exclude, among other things, certain rights, claims, credits, fee mineral interests, proprietary data, and records. The total consideration to be paid by Forest for the assets is $20M in cash, subject to customary adjustments to reflect the operation of the oil and gas assets prior to the closing, title defects, and unresolved consents to assignment and environmental defects. There are no relationships between Forest or any of Forestís officers, directors, or affiliates, on the one hand, and sellers, on the other hand.
06:55 EDTBGBunge price target raised to $112 from $95 at Piper Jaffray
Piper Jaffray raised its price target for shares of Bunge to $112 citing strong fundamentals for the company's Agribusiness segment and the possible divestiture of the Sugar segment. The firm expects catalysts to drive shares higher and reiterates an Overweight rating on the name.
05:10 EDTWMTWal-Mart working with DirectHealth.com to introduce health insurance program
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