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Stock Market & Financial Investment News

News Breaks
April 26, 2012
12:22 EDTLEAP, PCS, AET, XLNX, CHK, XOM, BCO, ALU, PHM, EQIX, JNJ, NIHD, SWI, AKAM, REGN, CTXS, UPSOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, in spite of jobless claims that were higher than expected and disappointing results from Exxon Mobil (XOM). Stocks began the day quietly following the jobless claims data. The averages were mixed in the opening half hour but spurted higher following the March pending home sales report. The data was much better than expected and pushed the averages to their session highs. The averages have since remained in a narrow range but have drifted higher... ECONOMIC EVENTS: Domestically, 388,000 initial jobless claims were reported, versus expectations of 375,000. Continuing claims came in at 3.31M, versus expectations for 3.29M. The Chicago Fed National Activity Index had a reading of -0.29. Pending home sales for the month of March were up 4.1% from the prior month, versus expectations of an increase of 1.0%... COMPANY NEWS: Exxon Mobil and UPS (UPS) both reported revenues and earnings that missed expectations, sending shares of both tumbling. Exxon slid almost 2% following its report, while UPS fell over 3%... Johnson & Johnson (JNJ) increased its dividend by 7%... Reuters reported that the SEC opened an informal inquiry into Chesapeake Energy's (CHK) well participation program as the company came out separately and said it did not review or approve of specific transactions made by its CEO Aubrey McClendon under that program... Among companies reporting earnings, advancers included Citrix Systems (CTXS), Equinix (EQIX), Xilinx (XLNX), Regeneron (REGN) and Pulte (PHM); decliners included Aetna (AET), Akamai (AKAM), Alcatel-Lucent (ALU) and MetroPCS (PCS)... MAJOR MOVERS: Among the notable gainers were SolarWinds (SWI), up 19%, after guiding to FY12 adjusted earnings that were above consensus at the midpoint, and Brinks (BCO), up over 17%, following results that beat on both the top and bottom line. Noteworthy losers included Leap Wireless (LEAP), down 20%, following downgrades at Raymond James and Guggenheim after its weak Q1 results, and NII Holdings (NIHD), down more than 18%, after its revenues and earnings disappointed... INDICES: Near noon, the Dow was up 63.46, or 0.48%, to 13,154.18; the Nasdaq was up 6.61, or 0.22%, to 3,036.24; and the S&P 500 was up 2.62, or 0.19%, to 1,393.31.
News For XOM;UPS;JNJ;CHK;CTXS;EQIX;XLNX;REGN;PHM;AET;AKAM;ALU;PCS;SWI;BCO;LEAP;NIHD From The Last 14 Days
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January 14, 2015
08:40 EDTUPSUPS expands three European Contract Logistics facilities
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07:17 EDTXLNXXilinx downgraded to Neutral from Overweight at JPMorgan
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07:06 EDTPHMKB Home margin issues company specific, says Deutsche Bank
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06:54 EDTXOMEnergy Department says oil production to rise this year, NY Times says
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06:41 EDTXLNXXilinx downgraded to Sector Perform from Outperform at Pacific Crest
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06:36 EDTREGNRegeneron price target raised to $474 from $390 at Citigroup
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06:12 EDTCHKChesapeake downgraded to Underweight from Equal Weight at Barclays
Barclays downgraded Chesapeake to Underweight and other names in the Exploration & Production space saying downside risk outweighs potential gains, even if oil prices recover. The firm reduced its commodity price deck assumptions and believes investor expectations for an oil price recovery could prove disappointing. It lowered its price target for shares to $13 from $18.
January 13, 2015
16:24 EDTPHMOn The Fly: Closing Wrap
The Wall Street averages spent time in both positive and negative territory during the session, before closing a bit below where they'd started the day. The market opened sharply higher after Alcoa’s (AA) better than expected report gave some optimism about the upcoming earnings season. The early move higher came despite oil continuing its slide. The major averages saw their highs shortly after the open and then began to drift slowly lower. By mid-afternoon the market was in the red, though the equity averages eventually made it briefly back into positive ground, but failed to hold those narrow gains into the close. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index for December came in at 100.4, which was stronger than the expected 98.5 reading. The JOLTS report showed job openings increased 142K to 4.972M in November, beating the 4.85M consensus forecast. Treasury posted a $1.9B surplus in December, which was a bit below the expected surplus of $3B. Also of note is the fact that the U.S. and European benchmarks of WTI and Brent crude were at parity for the first time since 2013 during the session, with both trading near $46 per barrel for a time. COMPANY NEWS: KB Home (KBH) reported better than expected revenue and higher orders in its fourth quarter, but the stock declined $2.70, or 16.29%, to $13.87 after CEO Jeffrey Mezger warned on the associated earnings call that margins could drop "significantly" in its current quarter from the levels seen last year. KB's margin outlook, which it blamed on rising costs, heavier use of incentives and a sequential decline in average selling prices, dragged down peers in the housing space as well. D.R. Horton (DHI), the biggest homebuilder by market cap, finished the day down $1.26, or 4.83%, to $24.82, while PulteGroup (PHM) also slid $56c, or 2.47%, to $22.13... MetLife (MET) said it will sue to oppose the U.S. Financial Stability Oversight Council’s designation of the insurer as a SIFI, or "systemically important financial institution." The life insurer called the label premature and said it has offered “substantial and compelling evidence” that it isn’t a SIFI. Wells Fargo said it thinks it is appropriate for MetLife to challenge the ruling, though the firm does not presently see a Dodd-Frank provision that enables an entity to shed its designation. Wells added that a MetLife victory would have no impact on either AIG (AIG) or Prudential (PRU), which did not challenge their SIFI designations before their windows closed. MAJOR MOVERS: Among the notable gainers was Emulex (ELX), which rose $1.21, or 20.86%, to $7.01 after the company issued better than expected guidance on its second quarter results. Also higher was McGraw Hill Financial (MHFI), which jumped $5.13, or 5.98%, to $90.89 after reports said the company's Standard & Poor’s rating unit was in talks about a potential $1B settlement to its fight with the Justice Department and state attorneys general over allegations of inflating credit ratings on mortgage investments preceding the financial crisis. Among the noteworthy losers was ChannelAdvisor (ECOM), which plunged $11.32, or 53.52%, to $9.83 after its fourth quarter revenue warning prompted no less than eight downgrades of the stock by Street analysts. Also lower were shares of Ocwen Financial (OCN), which dropped $4.41, or 36.18%, to $7.78 after the Los Angeles Times reported that California is seeking to suspend the company's mortgage license in the state. Altisource Portfolio Solutions (ASPS), which is a related company to Ocwen, also declined $10.45, or 38.79%, to $16.49. Shares of GoPro (GPRO) fell $6.91, or 12.17%, to $49.87 after the Patently Apple blog reported that Apple (AAPL) was granted a patent for a camera system that specifically mentions the weaknesses of GoPro devices. INDEXES: The Dow fell 27.16, or 0.15%, to 17,613.68, the Nasdaq lost 3.21, or 0.07%, to 4,661.50, and the S&P 500 dropped 5.23, or 0.26%, to 2,023.03.
16:00 EDTJNJOptions Update; January 13, 2015
iPath S&P 500 VIX Short-Term Futures up 66c to 34.42. Option volume leaders: AAPL JNJ CELG WFM TSLA TWTR AMZN GILD according to Track Data.
13:50 EDTREGNRegeneron sees FY14 EYLEA U.S. sales about $1.735B
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12:48 EDTPHMOn The Fly: Midday Wrap
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12:40 EDTREGNAmgen off highs after Express Scripts CEO talks PCSK9 costs
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11:50 EDTPHMKB Home comments hit shares of Homebuilders
Shares of companies in the Homebuilders space declined after KB Home (KBH) said on its earnings conference call that it will not meet its housing gross profit margin goal in 2015. KB cautioned that there is "still much work to do be done" to achieve its financial goals going forward. The homebuilder noted that as Q4 progressed, demand in some of its markets softened. It expects gross margins in Q1 to be down "significantly" from the year-ago period. Publicly traded companies in the space include Beazer Homes (BZH), D.R. Horton (DHI), Hovnanian (HOV), Lennar (LEN), M.D.C. Holdings (MDC), PulteGroup (PHM), Ryland Group (RYL) and Toll Brothers (TOL). The stocks moved lower following KB's comments.
11:44 EDTPHMHomebuilders decline after KB says won't hit 2015 housing margin goal
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10:00 EDTJNJJanssen Biotech announces license agreement with Vedanta Biosciences
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07:58 EDTAETAetna sees 2014 total medical membership exceeding 23.4M member view
Aetna CEO Mark Bertolini will meet with investors and analysts before and after a presentation at the 2015 J.P. Morgan Healthcare Conference and report that the company projects that its year-end 2014 total medical membership will exceed its previously disclosed projection of approximately 23.4M members, Aetna disclosed. Bertolini will also report that, based on results of the Medicare Annual Election Period and the Individual Public Health Insurance Exchange open enrollment period to date, Aetna projects that its 1Q15 Medicare Advantage and Individual Public Exchange membership will exceed its previous projections.
07:55 EDTAETAetna backs FY15 operating EPS view of at least $6.90, consensus $7.15
Aetna backs FY15 operating revenue projection of at least $62B, consensus $62.55B.
07:54 EDTAETAetna reaffirms FY14 operating EPS at high-end of $6.60-$6.70, consensus $6.68
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07:45 EDTJNJFierce Biotech to hold a breakfast meeting
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06:36 EDTAETAetna to increase wages for lowest-paid workers, WSJ reports
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