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Stock Market & Financial Investment News

News Breaks
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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December 8, 2014
08:11 EDTMRKCubist volatility elevated into Merck acquiring for $8.4B in cash
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08:09 EDTXOMExxon Mobil management to meet with UBS
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08:08 EDTMRKMerck says about $9.5B of debt to be issued related to Cubist deal
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08:07 EDTFFord management to meet with UBS
Meeting to be held in Boston on December 8 hosted by UBS.
07:53 EDTCVX, XOMClimate for Exxon E&P acquisition improved by falling prices, WSJ says
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07:35 EDTMRKAdvaxis reports FDA acceptance of IND application for ADXS-PSA combination trial
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07:13 EDTMRKMerck to host conference call
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07:01 EDTMRKMerck to acquire Cubist for $102 per share in cash, or $9.5B
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07:00 EDTMRKMerck to acquire Cubist for $102 per share in cash
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December 7, 2014
16:29 EDTMRKMerck in discussions to buy Cubist for $7B, Bloomberg reports
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12:58 EDTMRKMerck presents KEYTRUDA data at ASH
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December 5, 2014
15:39 EDTCTRPCtrip.com falls, heading for lows of the day, levels to watch
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14:06 EDTGMGeneral Motors ticks key resistance at the $34 area
The $34 level played a role as major support through the year until the breakdown in share price in September. Today the stock is ticking that level once again. Powering through this level would be bullish, while a failure at $34 would be bearish. Resistance is at $35.14. Support is at $33.24.
11:17 EDTCVXPhillips 66 announces 2015 capital budget of $4.6B
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10:33 EDTGMGeneral Motors recalls 2015 Chevrolet Colorado, GMC Canyon pickups, WSJ reports
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07:43 EDTXOM, CVXLondon bankers see oil slump spurring energy industry consolidation, WSJ reports
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06:53 EDTFFord's China sales rose 2% in November, Reuters says
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06:27 EDTGMGM looking to sell 500K Cadillacs annually by 2020, Reuters reports
GM plans to increase global annual sales of its Cadillac brand to over 500,000 cars by 2020, Reuters quoted Cadillac President Johan de Nysschen as saying. Reference Link
December 4, 2014
09:18 EDTPMCSPMC-Sierra coverage resumed with a Neutral at Goldman
Target $9.
06:51 EDTTMToyota to recall more vehicles to fix air bags, Reuters reports
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