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Stock Market & Financial Investment News

News Breaks
August 14, 2014
12:30 EDTNDLS, RRGB, AAP, WMT, OVTI, CSCOOn The Fly: Midday Wrap
Stocks on Wall Street began the session in positive territory and have remained there throughout the morning. The averages have edged higher despite worse than expected U.S. jobless claims data, weak economic growth in Germany, and a lowered outlook from retail giant Wal-Mart (WMT). Each of the major indexes is drifting on light volume and the Dow, Nasdaq and S&P 500 are all higher by roughly 0.25%. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 311K in the second week of August, versus expectations for 295K claims. Import prices fell 0.2%, while export prices were flat in July. In Europe, growth in the shared currency zone stagnated, with Q2 GDP slipping to unchanged, while the biggest economy in the region, Germany, saw its GDP contract 0.2% in the quarter. COMPANY NEWS: Wal-Mart reported second quarter results that were in-line with expectations, but the world's largest retailer cut its fiscal year earnings outlook citing additional investments in e-commerce and higher U.S. health-care costs than previously anticipated. Despite the lowered guidance, the Dow member's shares were virtually unchanged near noon... Another member of the Dow, Cisco Systems (CSCO), was the the blue-chip average's laggard, falling nearly 3% after saying it does not expect emerging markets growth for "several quarters" and that it expects to cut 6,000 jobs, or 8% of its workforce. The move lower comes despite its report of higher than expected sales and profits for its fiscal fourth quarter and multiple Street research firms raising their price targets for Cisco's stock. MAJOR MOVERS: Among the notable gainers was OmniVision (OVTI), which rose 13% to trade near $28 per share after announcing its board has received a preliminary non-binding proposal from Hua Capital Management to acquire all of the outstanding shares of common stock of the company for $29.00 per share in cash. Also higher was Advance Auto Parts (AAP), which rose about 6% after the company reported higher than expected second quarter earnings and raised its fiscal year comparable cash EPS view. Among the noteworthy losers were casual dining companies Red Robin Gourmet Burgers (RRGB), which dropped 21%, and Noodles & Company (NDLS), which fell 20%, after both reported lower than anticipated second quarter results. INDEXES: Near midday, the Dow was up 38.74, or 0.23%, to 16,690.54, the Nasdaq was up 10.26, or 0.23%, to 4,444.39, and the S&P 500 was up 5.24, or 0.27%, to 1,951.96.
News For WMT;CSCO;OVTI;AAP;RRGB;NDLS From The Last 14 Days
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July 29, 2015
10:36 EDTCSCOLockheed Martin launches healthcare technology alliance
Lockheed Martin (LMT) announced the formation of a new healthcare technology alliance, combining the expertise of health IT providers, medical technology companies, and academic institutions to advance public health. The Lockheed Martin Healthcare Technology Alliance's founding members include: Cisco (CSCO), Cloudera, Illumina (ILMN), Intel (INTC) and Montgomery College. The members of the Lockheed Martin Healthcare Technology Alliance will collaborate on technology solutions that help improve care in rapidly evolving and growing areas of health technology such as those that: secure patient medical information; leverage advances in genomic research; and apply big data solutions to improve public health.
July 28, 2015
18:08 EDTWMTWal-Mart warns suppliers to comply with labeling laws, WSJ reports
Last week, Wal-Mart sent a memo to hundreds of suppliers warning them to comply with labeling laws, noting that the amount inside a package should match what is printed on the outside, the Wall Street Journal reports. Reference Link
14:55 EDTWMTEarnings Watch: MasterCard reports after peers warn of currency headwinds
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July 27, 2015
11:18 EDTCSCOCisco's new CEO names Biri Singh as CTO, Kevin Brandy as CDO
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July 26, 2015
15:07 EDTCSCOCisco CEO to add 'key external hires' to management team, Barron's says
Cisco CEO Chuck Robbins told Barron's in an interview that "I think itís fair to say I bring the ability to move faster [than predecessor John Chambers] just in how I structure the teams and how I will interact with them," adding that he plans "some key external hires," potentially in cloud computing and security. The publication notes that shares of Cisco could jump "sharply higher" if investors start looking at Cisco's potential strength in the Internet-of-Things space. Reference Link
14:44 EDTCSCOAmazon cloud sales signal risk for traditional data storage, Barron's says
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July 24, 2015
12:58 EDTOVTIOmniVision stockholders approve merger with consortium
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06:37 EDTWMTWal-Mart increases offerings in baby category
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06:17 EDTCSCOCisco new CEO says to exit Q4 with headcount up
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July 23, 2015
19:24 EDTWMTWal-Mart's Apple Pay competitor launching soon, Bloomberg says
CurrentC, the mobile payment application funded by Wal-Mart (WMT), Target (TGT), Best Buy (BBY) and others, will see an early trial run next month, Bloomberg reported earlier, citing three people familiar with the situation. A spokesperson for Lowe's (LOW) said the consortium behind the app expects an official launch in Q3, and Bloomberg noted that CurrentC will compete with more "established" offerings such as Apple's (AAPL) Apple Pay and Google's (GOOG) Android Pay. Reference Link
06:15 EDTCSCOTechnicolor to acquire Cisco's connected devices unit for EUR550M
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05:08 EDTWMTWal-Mart acquires remaining shares of Yihaodian
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July 22, 2015
13:25 EDTWMTWal-Mart to end overnight hours at certain stores, Bloomberg reports
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08:38 EDTWMTNRF cuts 2015 retail sales growth forecast to 3.5% from 4.1%
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July 21, 2015
14:24 EDTCSCOEarnings Watch: EMC reports amid M&A speculation in sector
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July 20, 2015
13:46 EDTWMTAmazon seen eclipsing Macy's as top U.S. clothing retailer
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July 17, 2015
07:43 EDTOVTIOmniVision to host special shareholder meeting
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07:05 EDTCSCOCisco management to meet with Deutsche Bank
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