New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
March 17, 2014
12:22 EDTYHOO, SINA, GM, VRSN, SGK, MATW, LMIA, KNDIOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher in the first day of the new trading week amid better than expected industrial production data at home and relief that there was no violence despite Crimeans voting in favor of leaving Ukraine. The vote was declared invalid by the international community and has led to no military action, at least as of yet. The Federal Reserve kicks off a two-day policy meeting this week, capped by Janet Yellen’s first press conference as head of the central bank on Wednesday. ECONOMIC EVENTS: In the U.S., the New York Fed Empire state manufacturing survey reading of 5.61 came in below the consensus estimate of 6.5. However, the index rose from last month’s reading of 4.48. Industrial production rose 0.6% in February, beating expectations for a month-over-month increase of 0.2%. Capacity utilization in February came in at seen 78.8%, which was above the 78.6% forecast. The NAHB housing market index for March came in at 47, which was up 1 point from the prior reading but below the expected reading of 50. In Europe, an overwhelming majority of people in Ukraine's Crimea region voted to join Russia, although that result was widely anticipated. COMPANY NEWS: Shares of Yahoo! (YHOO) advanced nearly 4% after Alibaba Group confirmed it has decided to commence the process of an initial public offering in the United States. Note that Yahoo currently owns about a 24% stake in Alibaba, which is China’s largest e-commerce company. Shares of another Chinese Internet name, SINA (SINA), rose 7% after the company's majority-owned subsidiary Weibo, which operates a social media platform in China, filed a preliminary prospectus on Friday for its own initial public offering in the U.S. Weibo is seeking to raise up to $500M via the stock offering... Shares of General Motors (GM) came off their earlier highs and fell into negative ground just before noon after the company announced three new recalls involving U.S. production and sales of approximately 1.55M vehicles. GM is at the center of a great deal of press scrutiny and an increasing number of government investigations into its handling of an ignition flaw linked to 13 deaths. GM said it expects to take a charge of approximately $300M in the first quarter primarily for the cost of the repairs for the three safety actions announced today and the previously announced ignition switch recall. GM's stock came off its lows to be fractionally higher at midday following the news. MAJOR MOVERS: Among the notable gainers was Schawk (SGK), which jumped 36% after the company agreed to be acquired by Matthews International (MATW) for the equivalent of $20 per share in cash and stock. Shares of Matthews also rose over 2.5% after announcing the deal. Also higher was Chinese electric vehicle maker Kandi Technologies (KNDI), which rose 24% after the company reported its results for the fourth quarter. Among the noteworthy losers was VeriSign (VRSN), which fell more than 7% after a government regulatory body said it plans to transition the role it plays in the coordination of the Internet’s domain name system. Also lower were shares of LMI Aerospace (LMIA), which dropped 12% after the company's quarterly revenue missed expectations and it withdrew its previously issued 2014 guidance in order to provide time for its new CEO to conduct "a thorough review of the company's forecast and operations." INDEXES: Near midday, the Dow was up 168.29, or 1.05%, to 16,233.96, the Nasdaq was up 40.46, or 0.95%, to 4,285.86, and the S&P 500 was up 16.50, or 0.9%, to 1,857.63.
News For YHOO;SINA;GM;VRSN;SGK;MATW;LMIA;KNDI From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | all recent news | >>
October 13, 2014
09:28 EDTYHOOYahoo upgraded to Buy from Hold at BGC Financial
BGC Financial analyst Colin Gillis upgraded his rating on Yahoo (YHOO) shares to Buy saying the company's remaining assets should get monetized in a more tax efficient manner now that Alibaba (BABA) is public. Gillis also points out that Alibaba could see benefits from acquiring Yahoo. He raised his price target for Yahoo shares to $50 from $37.
08:06 EDTSINAQihoo 360 launches ad exchange platform, Marbridge Daily reports
Subscribe for More Information
06:44 EDTGMRegulators seeking banks' auto loan data, Reuters reports
Subscribe for More Information
October 12, 2014
17:21 EDTGMTesla ahead of other car makers on semiautonomous driving system, WSJ says
Subscribe for More Information
October 10, 2014
06:12 EDTGMGeneral Motors reports September China sales up 15.2% to 319,936
Subscribe for More Information
October 9, 2014
14:37 EDTYHOOYahoo looking to make Tumblr another YouTube, Business Insider says
Subscribe for More Information
09:17 EDTGMOmix Ada recalls floor mats used in Chevrolet, GMC trucks, SUVs
Subscribe for More Information
October 8, 2014
06:19 EDTYHOOYahoo lays off 400 employees in India, WSJ reports
Subscribe for More Information
October 7, 2014
12:56 EDTGMGM recalls Chevrolet Caprices due to transmission selector lever defect
Subscribe for More Information
12:26 EDTGMGeneral Motors trades sharply lower, nearing 52-week low
The stock has been trading down since the open, last at $32.18 and just above the 52-week low at $31.67. If the shares break down through the 52-week low, next support would be at $30.50. Resistance is at $32.87.
11:25 EDTGMStocks with call strike movement; SLV GM
Subscribe for More Information
10:50 EDTKNDIKandi Technologies mentioned cautiously by ShareSleuth
Reference Link
10:02 EDTYHOOYahoo volatility at low end of one-year range
Subscribe for More Information
09:40 EDTYHOOYahoo lays off up to 2,000 employees in India, TechCrunch reports
Yahoo has laid off up to 2,000 employees in India as a result of a move to consolidate into fewer offices, TechCrunch reports, citing local blog The Next Big What. Yahoo has confirmed the consolidation, but did not confirm how many people are affected by the effort. Reference Link
09:24 EDTYHOOFormer Yahoo CFO says AOL merger makes 'little sense,' CNBC reports
Subscribe for More Information
08:29 EDTGMGeneral Motors recalls 290,241 Cadillac SRX, SAAB 9-4X vehicles
Subscribe for More Information
08:28 EDTGMGeneral Motors recalls 10,005 Cadillac CTS-V, STS-V vehicles
General Motors is recalling 10,005 model year 2004-2007 Cadillac CTS-V vehicles manufactured October 6, 2003, to March 15, 2007, and 2006-2007 Cadillac STS-V vehicles manufactured June 23, 2005, to March 15, 2007. In the affected vehicles, the electrical terminals of the fuel pump module may overheat resulting in the melting of the flange material. If the flange melts, a hole may be created allowing the fuel pump to leak fuel, causing the vehicle to stall, increasing the risk of a vehicle crash. Additionally, leaking fuel in the presence of an ignition source increases the risk of a fire.
08:26 EDTGMGM recalls 46,873 vehicles from 2008-2013, including Chevrolet Caprice
Subscribe for More Information
08:10 EDTGMGeneral Motors estimates lowered, price target to $27 at Morgan Stanley
Subscribe for More Information
06:43 EDTGMGM using Facebook, calls to reach out and get recalled cars fixed, AP reports
General Motors (GM) is using Facebook (FB) messages and phone calls to reach out to vehicle owners who have yet to bring in their cars the company has recalled, reports the Associated Press. CEO Mary Barra has also sent a personal letter urging people to get the switches replaced. Reference Link
1 | 2 | 3 | 4 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use