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Stock Market & Financial Investment News

News Breaks
February 1, 2013
12:37 EDTXOM, LTM, CTRP, PMCS, ADNC, DELL, TM, FIATY, F, GM, MRK, CVX, NOVOn 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.
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July 10, 2014
14:01 EDTTMToyota selects KDC to develop new North American headquaters
Toyota announced that it has selected Dallas-based KDC Real Estate Development & Investments, one of America's leading commercial real estate development and investment firms, to develop its new North American headquarters campus in the Legacy West development in Plano, Texas. Toyota recently finalized the purchase of its new headquarters site and expects to begin occupying the campus in late 2016 or early 2017. Once completed, the headquarters will be home to about 4,000 Toyota employees.
13:46 EDTXOMExxon feels singled-out in regards to fracking, WSJ says
Exxon Mobil is up against a criminal lawsuit over a wastewater spill in Pennsylvania and is saying that the state's attorney general has incorrectly singled it out in an effort to stop fracking, according to The Wall Street Journal, citing comments from Attorney General Kathleen Kane. Lawyers are saying that Exxon unit, XTO Energy, is criminally responsible for a large leak of water that had been used in hydraulic fracturing, or fracking, in north-central Pennsylvania four years ago. Reference Link
09:56 EDTF, FIATYFord, Fiat Chrysler inquire about EU changes, FT says
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09:50 EDTFFord 'committed' to South Africa, minimizes worries over strikes, Reuters says
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06:24 EDTGMGeneral Motors to replace faulty ignition switch kits, Detroit News says
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06:06 EDTGMGM recalling Saab convertibles due to safety defect, Detroit News reports
Around 28,790 Saab convertibles from the 2004-2011 model years are being recalled by General Motors, as the driver's seat belt retractor can break, the Detroit News reports. Reference Link
July 9, 2014
09:47 EDTF, FIATY, TM, GMNew car sales in India rose 15% in June, WSJ reports
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09:43 EDTGMGeneral Motors, Manchester United debut sponsored shirt for 2014-15 season
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09:21 EDTGMDelphi CEO to testify about GM ignition switches, Automotive News says
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07:52 EDTGM, TMJapan leading drive for fuel cell vehicles, FT says
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06:28 EDTGMGM Korea employees approve strike amid stalled wage discussions, Reuters says
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06:17 EDTGMGM CEO, general counsel to testify before Senate subcommittee, WSJ reports
Mary Barry, the CEO of General Motors (GM), and the company's general counsel, Mike Millikin, have been called to testify next week before a Senate subcommittee looking at why it took the automaker almost 11 years to recall older cars equipped with a faulty ignition switch, the Wall Street Journal reports. Delphi Automotive (DLPH) CEO Rodney O'Neal and Kenneth Feinberg have also been called as witnesses. Reference Link
July 8, 2014
12:25 EDTGMGM won't use insurance to pay ignition claims, Automotive News reports
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10:29 EDTCVXChevron closes Lithuania office
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07:17 EDTMRKLeerink raises immuno-oncology market forecast to $36B
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07:07 EDTFIATYFiat founders could tighten hold on firm after Chrysler merge, Reuters says
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06:54 EDTGMGM Korea head says potential strike could mean output cuts, Reuters says
GM South Korea CEO Sergio Rocha warned employees that a possible strike could prompt further production reductions in one of its major Asian manufacturing centers, according to Reuters, citing comments from Rocha. GM's 15K unionized employees in South Korea plan to cast ballots on whether to hold a strike for a fourth consecutive year, signaling a reemergence of summer labor unrest in the country's vehicle industry. Reference Link
06:29 EDTGMGeneral Motors elects not to recall trucks with brake problems, NY Times says
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06:24 EDTFFord recalls 101,000 vehicles, Detroit News reports
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05:35 EDTXOMTechnip awarded renewal of framework agreement by Statoil, Exxon Mobil, Gassco
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