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Stock Market & Financial Investment News

News Breaks
January 10, 2013
12:25 EDTMCP, SVU, URBN, F, ARO, NOK, WMTOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, as a slightly worse than expected weekly jobless claims report in the U.S. was balanced by strong export data from China. With the earnings season not set to begin in earnest until next week, and no sign of urgency from lawmakers to pick up their debate on the impending debt ceiling until the last minute again, the market may be range-bound in the near term... ECONOMIC EVENTS: In the U.S., weekly jobless claims rose 4K to 371K, versus expectations for 362K claims. Wholesale inventories increased 0.6% in November, versus expectations for an increase of 0.2%. The Job Openings & Labor Turnover survey showed advertised job openings climbed 11,000 in November to 3.67M, which was about 12% more than in the same month a year ago. In Europe, the ECB kept its main interest rate unchanged. The Bank of England also voted, as expected, to keep its main interest rate unchanged and not to buy more government bonds. China's trade surplus rose to $31.6B in December from $19.6B in November, as exports increased 14.1% compared with the same period a year earlier, widely beating expectations for a 4.5% increase. Imports gained 6%, compared to expectations for a 2.6% increase... COMPANY NEWS: Wal-Mart (WMT) shares slid nearly 1% after two Congressmen suggested that the company's current CEO knew as early as 2005 about bribery allegations against the retailer in Mexico... Ford (F) rose 2.5% after the company doubled its quarterly dividend to 10c per share... Supervalu (SVU) rose almost 13% after the company reported a quarterly profit on sales that were roughly in-line with expectations, but more importantly agreed to sell its Albertsons, Acme, Jewel-Osco, Shaw’s and Star Market chains to a Cerberus-led consortium in a transaction valued at $3.3B... MAJOR MOVERS: Among the notable gainers was Nokia (NOK), which surged over 18% after announcing its Mobile Phones business unit and Lumia portfolio delivered better than expected results in Q4 and operating expenses were lower than expected. Also higher were shares of Urban Outfitters (URBN), up 4% after it reported a 9% increase in comparable retail segment net sales during the holiday season and research firm Piper Jaffray raised its price target on the shares. Among the noteworthy losers were Molycorp (MCP), down 21% after forecasting lower than expected 2013 revenue and cash flow, and Aeropostale (ARO), down 6% after cutting its Q4 profit view and having shares downgraded to Hold at Brean Capital... INDICES: Near noon, the Dow was up 14.49, or 0.11%, to 13,405.00; the Nasdaq was down 0.40, or 0.01%, to 3,105.41; and the S&P 500 was up 3.85, or 0.26%, to 1,464.87.
News For WMT;F;SVU;NOK;URBN;MCP;ARO From The Last 14 Days
Check below for free stories on WMT;F;SVU;NOK;URBN;MCP;ARO the last two weeks.
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April 16, 2014
14:29 EDTFGM to offer diesel mid-size trucks, says April sales 'robust,' WSJ reports
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06:23 EDTFFord could replace MyFord Touch, Detroit News says
Ford is looking to improve upon its MyFord Touch system and could debut a system that could potentially replace it, reports Detroit News citing Ford America's Chief, Joe Hinrichs. Reference Link
06:22 EDTNOKNokia increases orders for on-cell touch panels, DigiTimes reports
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05:13 EDTFFord reveals 50th anniversary Mustang
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April 15, 2014
15:53 EDTFFord's new My Touch with BlackBerry software slated for year end, WSJ says
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15:18 EDTMCPChina seen exceeding forecast for rare earth stockpiling, SMM says
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12:15 EDTNOKStocks with call strike movement; MU NOK
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08:12 EDTFBofA/Merrill to hold a summit
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08:01 EDTFFord reports Europe sales up 12% in March, 11% in Q1
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05:38 EDTWMTWal-Mart downgraded to Underperform from Market Perform at William Blair
William Blair downgraded its rating on Wal-Mart (WMT) to Underperform from Market Perform citing risks with e-commerce competition and the prospect of sector rotation away from retailers. William Blair says retail sales were sluggish in Q1 with weak consumer confidence for low-income households.
April 11, 2014
14:14 EDTFDeutsche Bank upgrades Ford on earnings outlook
Deutsche Bank upgraded Ford (F) to Buy from Hold in a note to investors, saying that the company's earnings are poised to increase significantly in 2015-2016. WHAT'S NEW: Ford can increase the price of its pickup trucks, Deutsche Bank analyst Rod Lache wrote. The company's pickups now cost just an average of about $150 per vehicle more than GM's offerings, versus the average gap of $3,000 over the last five years, Lache explained. Ford's new F150 truck will be less expensive than previously expected, as the truck's aluminum body will be cheaper than anticipated and the company has been able to find other ways to cut production costs, the analyst stated. Additionally, Ford's prospects in Europe and China are "favorable," according to the analyst, who upgraded the stock to Buy from Hold. He raised his price target on the shares to $19 from $18.50. WHAT'S NOTABLE: Lache was somewhat upbeat on General Motors (GM), saying that the company can keep it profits at "decent" levels by cutting its costs. However, he added that the automaker's products have not met expectations. Lache now expects GM's share of the pickup truck market share to drop to 17% in 2015 from 17.5% this year. He lowered his 2014 EPS estimate for GM to $2.58 from $3.38 and reduced his 2015 EPS estimate for the company to $4.20 from $4.80. Lache reduced his price target on the shares to $41 from $48, but kept a Buy rating on the stock. PRICE ACTION: In mid-afternoon trading, Ford added 0.6% to $15.72, while GM fell 2.9% to $32.33.
12:42 EDTFOn The Fly: Analyst Upgrade Summary
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10:01 EDTFFord rallies in early trading following upgrade, levels to watch
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09:04 EDTAROAeropostale price target lowered to $5 from $7.50 at BofA/Merrill
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07:31 EDTFChina auto sales growth slowed in March, WSJ reports
The China Association of Automobile Manufacturers said 1.71M passenger vehicles were sold there in March, which was up 7.9% from a year earlier but a slower growth rate than the 11% year-over-year increase seen in the January-to-February period, reported The Wall Street Journal. The association cited weak sales of minivans, which fell 23% in the month, as a large factor, the report noted. Publicly traded automakers include Ford (F), General Motors (GM), Fiat (FIATY), Honda (HMC), Toyota (TM), Nissan (NSANY) and Volkswagen (VLKAY). Reference Link
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
06:15 EDTFFord upgraded to Buy from Hold at Deutsche Bank
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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%.
06:32 EDTFAutomakers have recalled nearly 15M vehicles since start of year, WSJ reports
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06:13 EDTWMTWal-Mart to carry Wild Oats organic food items
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