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Stock Market & Financial Investment News

News Breaks
April 4, 2014
08:02 EDTWMT, MA, GESam'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.
News For WMT;GE;MA From The Last 14 Days
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February 1, 2016
07:06 EDTMAMasterCard results 'broadly encouraging,' says Stifel
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05:46 EDTGEGE Oil & Gas reports over $700M of customer agreements
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05:44 EDTGEGE Oil & Gas announces investments in Italy worth $600M
GE Oil & Gas announced a new Memorandum of Understanding that will lead to the investment of $600M over the next five years in Italy. The MoU was signed today in Florence by GE Oil & Gas at a ceremony attended by the Minister of Economic Development Federica Guidi, the President of Tuscany Region Enrico Rossi, GE's Chairman and CEO Jeff Immelt, the President and CEO of GE Italia Sandro De Poli, the President and CEO of GE Oil & Gas Lorenzo Simonelli and the President of Nuovo Pignone Massimo Messeri. The investment in significant research, development and technological innovation in the country reaffirms GE Oil & Gas' commitment to the Italian market, and reinforces its cooperation with universities, SMEs and the regional economy where it operates. Tuscany is the home to Oil & Gas' Turbomachinery Solutions division and is also present in Lombardy, Calabria and Apulia. Another Memorandum of Understanding has been signed in the last weeks between Avio Aero - a GE Aviation business - and the Italian Minister of Economic Development, consisting of EUR200M over the next four years and involving Piedmont, Apulia and Campania, the geographical areas in which Avio Aero employs about 4,000 people. The MoU announced today will see GE Oil & Gas operations invest $600M over the next five years establishing a centre of global excellence in Tuscany for the oil and gas sector that will involve 500 highly qualified people coming from GE, universities, research labs, and small and medium-sized enterprises. The project aims at increasing Italian production by 50% and increase company revenue by $1.7B in five years. The program, named Galileo, supports the development of gas turbines and centrifugal compressors with a 5-65MW power range and innovative digital technologies covering their entire life cycle with aim of optimising the performance and operative life of the products.
January 31, 2016
11:39 EDTMAS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
January 29, 2016
17:12 EDTMAOn The Fly: Top stock stories for Friday
Stocks began the session in positive territory and remained there throughout the day. The early strength was attributed to the surprise cut in interest rates by the Bank of Japan that put the country in a negative interest rate scenario. The market gained strength throughout the day and put in gains of almost 2.5% in what was a broad based advance for the major averages. January closed out with two winning weeks, but the month was still a very bad one for stocks, as the S&P lost over 5% even after today's strong showing. ECONOMIC EVENTS: In the U.S., the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The Chicago PMI business barometer bounced to 55.6 in January, topping forecasts for a 45.3 reading. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast. In a surprise move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: Shares of Amazon (AMZN) declined 7.6% to $587 after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings after last night's closing bell, gained 5.8% to $55.09... Confirming a news report that broke late in the day yesterday, Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44. MAJOR MOVERS: Among the notable gainers was Axiall (AXLL), which jumped 83% to $17.94 after it came to light that the company received, and rejected, an unsolicited proposal from Westlake Chemical (WLK) offering to acquire the company for $20 per share in cash and stock. Also higher were Visa (V) and Mastercard (MA), which gained 7% and 6.4%, respectively, after reporting quarterly earnings. Among the notable losers was Gilead (GILD), which fell 5.5% to $82.70 after rival Merck (MRK) received FDA approval for its own hepatitis C drug. Also potentially weighing on Gilead shares was the fact that competitor AbbVie (ABBV) announced financial results for the fourth quarter, including sales of Viekira Pak, its own hep C treatment, that fell short of estimates. AbbVie fell 2.3% to $54.58 following its quarterly report. INDEXES: The Dow rose 396.66, or 2.47%, to 16,466.30, the Nasdaq gained 107.28, or 2.38%, to 4,613.95, and the S&P 500 added 46.88, or 2.48%, to 1,940.24.
09:34 EDTGEActive equity options trading on open: AMZN MSFT FB AAPL GILD GE
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09:31 EDTMAMasterCard slips lower
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09:29 EDTMAMasterCard sees 2016 results at low end of three-year objectives due to forex
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09:25 EDTMAMasterCard CFO says most business drivers 'a bit higher or similar' so far in Q1
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08:03 EDTMAMasterCard reports Q4 worldwide purchase volume up 12% on local currency basis
MasterCard reports worldwide purchase volume during the quarter was up 12% on a local currency basis versus the fourth quarter of 2014, to $883B. As of December 31, 2015, the company's customers had issued 2.3B MasterCard and Maestro-branded cards. Total operating expenses increased 1%, or 4% when adjusted for currency, to $1.4B during the fourth quarter of 2015 compared to the same period in 2014.
08:01 EDTMAMasterCard reports Q4 gross dollar volume up 12%
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08:00 EDTMAMasterCard reports Q4 EPS 79c, consensus 69c
Reports Q4 revenue $2.52B, consensus $2.55B.
06:51 EDTWMTJury says Wal-Mart must by pharmacist $31.22M in gender bias case, Reuters says
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06:10 EDTGEGE intends to invest $760M in Italy R&D facilities, Bloomberg reports
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January 28, 2016
14:29 EDTMANotable companies reporting before tomorrow's open
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14:13 EDTMAEarnings Watch: Visa to report after co-brand wins, Visa Europe deal
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12:50 EDTMAMasterCard technical preview ahead of earnings news
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06:44 EDTMAMasterCard volatility elevated into Q4 and outlook
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January 26, 2016
09:20 EDTGEGE signs EUR40M agreement with PGE to modernize Polish power plant
GE's Power Services business announced it has secured orders valued approximately at EUR40M with PGE Gornictwo i Energetyka Konwencjonalna S.A. to upgrade generator and steam turbine assets at the Turow Power Plant. The upgrades will result in a combined 45-megawatt output increase, which is the equivalent of powering about 130,000 Polish households. Under the terms of the agreement with PGE GiEK S.A., GE will upgrade three 50WT20H-100 generators and three 13CK230 steam turbines to extend equipment lifetime by at least 150,000 hours-about 20 years-and increase the availability of the turbosets to 97 percent in the first year of operation and above 98 percent in the next year. The upgrade is expected to increase power output by 45 MW and improve power plant efficiency by approximately 1.4 percent. The upgrade of the generator rotors and the manufacturing of new rods will take place in GE's generator factory in Wroclaw, Poland. The steam turbine upgrade includes the delivery of new HP, IP and LP turbine inner modules, which will be manufactured in GE's turbine factory in Elblag, Poland. The upgrade is scheduled to begin with the shutdown of the first unit in April 2017, and the commissioning of the last unit is scheduled for January 2020.
09:02 EDTMAMasterCard says JetBlue to accept digital payments with MasterPass
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