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Stock Market & Financial Investment News

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February 1, 2013
12:37 EDTADNC, FIATY, MRK, CTRP, DELL, F, CVX, NOV, PMCS, TM, GM, XOM, LTMOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday following the monthly jobs report for January and a better than expected reading on manufacturing expansion. The Dow Jones Industrial Average rose above 14,000 for the first time since 2007 on several occasions in the first part of the day but has had trouble holding above that round-number level... ECONOMIC EVENTS: In the U.S., the nonfarm payrolls report showed that 157K jobs were added in January and unemployment rose to 7.9%. This compared to expectations for 165K new jobs and for unemployment to hold steady at 7.8%. Notably, December payroll additions were revised up to 196K from 155K and November was raised to 247K from 161K. The University of Michigan consumer confidence reading for January came in at 73.8, versus the expected 71.5. The January ISM manufacturing index had a reading of 53.1, versus the expected reading of 50.7, while Markit's January U.S. PMI came in at 55.8, also beating expectations. Construction spending in the month of December rose 0.9%, versus the expected increase of 0.7%. In China, the government’s official PMI slid to 50.4 from 50.6 in December, while a similar PMI reading from HSBC rose to a two-year high of 52.3. In Europe, the euro zone PMI hit an 11-month high at 47.9, though that figure is still indicates contraction... COMPANY NEWS: Two oil supermajors, Exxon Mobil (XOM) and Chevron (CVX) both reported quarterly earnings that beat expectations on revenues that missed the Street's forecasts. Shares of Exxon were nearly flat while Chevron was up nearly 1% near noon following their reports and corresponding investor calls... General Motors (GM), Ford (F), Chrysler (FIATY) and Toyota (TM) all reported double-digit sales increases in January... MAJOR MOVERS: Among other advancers following earnings were Audience (ADNC), up 21%, PMC-Sierra (PMCS), up 13%, and Ctrip.com (CTRP), up 6%. Also higher were shares of Dell (DELL), which rose over 4% after Reuters said its planned 'go private' deal may happen as soon as Monday... Among the noteworthy losers was Merck (MRK), which fell almost 3% and was the only Dow component not rising at midday. The company's quarterly results beat expectations but it also announced it would delay its filing for approval of odanacatib, the company’s investigational osteoporosis drug. Also lower after their earnings reports were Life Time Fitness (LTM), down 20%, and National Oilwell Varco (NOV), down 4%... INDICES: Near noon, the Dow was up 137.51, or 0.99%, to 13,998.09; the Nasdaq was up 38.79, or 1.23%, to 3,180.92; and the S&P 500 was up 15.21, or 1.02%, to 1,513.32.
News For XOM;CVX;MRK;GM;F;FIATY;TM;DELL;ADNC;PMCS;CTRP;LTM;NOV From The Last 14 Days
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June 24, 2015
16:00 EDTFActionable Options for Wednesday, June, 24
iPath S&P 500 VIX Short-Term Futures up 30c to 17.32 Option volume leaders: AAPL FB NFLX BAC VALE MU BABA WMB T F EBAY FCX TWTR BBRY
11:18 EDTGMGeneral Motors to host conference call
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10:27 EDTGMGeneral Motors slips to session lows, levels to watch
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10:00 EDTFOn The Fly: Analyst Upgrade Summary
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10:00 EDTGMOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Autoliv (ALV) downgraded to Sell from Neutral at Goldman... Catamaran (CTRX) downgraded to Neutral from Buy at UBS... Citi (C) downgraded to Hold from Buy at Deutsche Bank... Esperion (ESPR) downgraded to Neutral from Outperform at Credit Suisse... Fortinet (FTNT) downgraded to Neutral from Buy at Citi... General Motors (GM) downgraded to Neutral from Buy at Goldman... Goldman Sachs (GS) downgraded to Hold from Buy at Deutsche Bank... IBERIABANK (IBKC) downgraded to Neutral from Outperform at Baird... Independent Bank (INDB) downgraded to Underperform from Neutral at Baird... Inphi (IPHI) downgraded to Market Perform from Outperform at Northland... MoneyGram (MGI) downgraded to Neutral from Outperform at Macquarie... Sensata (ST) downgraded to Hold from Buy at Cross Research... Teradyne (TER) downgraded to Buy from Conviction Buy at Goldman... Alcobra (ADHD) downgraded to Hold from Speculative Buy at WBB Securities.
09:10 EDTFOn The Fly: Pre-market Movers
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09:07 EDTMRKCAR-T cancer drug researchers seen as M&A targets, Bloomberg says
Juno Therapeutics (JUNO), Kite Pharma (KITE) and Bluebird Bio (BLUE) are trading well above their IPO levels as takeovers predictions have spurred interest and share increases for the developers of CAR-T gene therapies, said Bloomberg's "Real M&A" column, quoting Dimo Dimov, a professor at the University of Bath’s School of Management, as having said that companies such as Pfizer (PFE), Merck (MRK), Roche (RHHBY) and AstraZeneca (AZN) are "closely watching" the firms. Cellectis (CLLS), which is working with Pfizer on its own approach to CAR-T therapy, has said it wants to bring its therapy to market and doesn’t anticipate a sale, the report noted. Reference Link
08:40 EDTXOMExxon closes oil production off Santa Barbara after pipe burst, L.A. Times says
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07:19 EDTCVX, XOMU.K. panel to decide on first fracking in area since 2011, WSJ reports
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06:43 EDTGMGeneral Motors volatility low into downgrade to Neutral from Buy at Goldman
General Motors July call option implied volatility is at 17, August and September is at 19; compared to its 52-week range of 17 to 38, suggesting decreasing price movement into Goldman downgrade to Neutral and lowered its price target to $40 from $47 due to a weakness in China and softening US profit momentum.
06:27 EDTGMGeneral Motors downgraded to Neutral from Buy at Goldman
Goldman downgraded General Motors (GM) to Neutral and lowered its price target to $40 from $47 due to a weakness in China and softening US profit momentum. The firm's recent dealer visits in China indicate increased promotional activity and net price deterioration to support Shanghai GM JV product sales. Goldman said this, combined with margin pressure, will likely lead to a reduction in China guidance. For North America, the firm said Q1 carryover product pressure has extended into Q2 and could be pressured further with full availability of Ford's (F) F-150 heading into 2H 2015.
06:26 EDTFFord upgraded to Buy from Neutral at Goldman
Goldman upgraded Ford to Buy and increased its price target to $19 from $18. The firm expects earnings momentum to accelerate in 2H and into 2016 driven by full production of the new F-150 and further market share gains following the launch of the Super Duty. Goldman expects positive pricing and low levels of relative incentives with its refreshed products. Further, Goldman expects Ford's position in China to continue to improve given strong product launch tempo.
05:40 EDTFFord launches car-share business in six U.S. cities, London, CNBC says
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June 23, 2015
17:44 EDTGM, FGoldman ups Ford to Buy, cuts GM to Neutral
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17:27 EDTFFord upgraded to Buy from Neutral at Goldman
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17:27 EDTGMGeneral Motors downgraded to Neutral from Buy at Goldman
16:14 EDTADNCMMCAP International reports 5.66% passive stake in Audience
12:05 EDTFFord seeks to migrate driver-assist technologies over product lineup over 5 yrs
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10:57 EDTTMReport: Toyota offices raided by police, Globe and Mail says
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07:41 EDTDELLRed Hat to hold a summit
Red Hat Summit 2015 is being held in Boston on June 23-26 with webcasted company presentations to begin on June 23 at 4 pm; not all presentations may be webcasted. Webcast Link
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