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Stock Market & Financial Investment News

News Breaks
February 19, 2014
12:37 EDTX, VZ, SIG, CMCSA, NFLX, ZLC, PBPB, GOOG, TIFOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday after the S&P 500 spent the majority of the morning in positive ground. Significantly worse than expected housing data for January contributed to a lower open for the major averages, but the Dow and S&P had recovered within an hour of the opening bell. The averages hung near the flat line until just about noon, when all three declined in concert. The move lower may be related to cautious comments coming from the International Monetary Fund, but also coincided with new headlines regarding the ongoing political unrest in Ukraine. ECONOMIC EVENTS: In the U.S., the newly revamped producer price index, which now includes the wholesale cost of goods and adds services, construction, government purchases and exports, climbed 0.2% on a seasonally adjusted basis, which was above the forecast for a 0.1% increase. Housing starts dropped 16% from the prior month to an 880K annual rate in January, which was significantly worse than expected. Building permits also fell a worse-than-expected 5.4% from the prior month to a rate of 937K. COMPANY NEWS: Signet Jewelers (SIG) agreed to acquire Zale (ZLC), which operates its namesake brand as well as Kay Jewelers, Jared, and others, for about $1.4B, or $21.00 per share. Signet projected the transaction to be high single-digit percentage accretive to earnings in the first full fiscal year after the deal closes, excluding acquisition accounting adjustments and one-time transaction costs. Shares of Zale jumped 40% to trade just below $21 at midday, while Signet's stock rose more than 16%. Shares of the leading jewelry and watch retailer in terms of market capitalization, Tiffany (TIF), were up fractionally following the deal between its smaller rivals... After courts ruled against the Federal Communications Commission's last two attempts to enforce "Open Internet" rules, otherwise known as "net neutrality," on broadband providers like Verizon (VZ) and Comcast (CMCSA), the regulator said it is going back to the drawing board to craft new rules to prevent ISPs from charging companies like Netflix (NFLX) and Google (GOOG) to provide consumers of their services the highest speeds. MAJOR MOVERS: Among the notable gainers following their earnings reports were land drilling contractor Nabors Industries (NBR), which advanced 12%, and GPS maker Garmin (GRMN), which gained 8%. Among the noteworthy losers was U.S. Steel (X), which fell 7% after the U.S. Department of Commerce declined to impose tariffs on oil and natural gas pipe products from South Korea, which is the largest exporter among nine nations targeted in a complaint from the company and others in the industry. Also lower were shares of sandwich shop owner Potbelly (PBPB), which fell nearly 11% after reporting quarterly sales that missed expectations. INDEXES: Near midday, the Dow was down 34.00, or 0.21%, to 16,096.40, the Nasdaq was down 21.11, or 0.49%, to 4,251.67, and the S&P 500 was down 4.63, or 0.25%, to 1,836.13.
News For ZLC;SIG;TIF;NFLX;VZ;GOOG;CMCSA;X;PBPB From The Last 14 Days
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June 23, 2015
10:37 EDTTIFTiffany sees 'minimal growth' in FY EPS, consensus $4.23
Says plans to increase global square footage 4%-5% annually for the foreseeable future. Sees ability to generate "healthy" free cash flow. Sees demand for products "consistent" with past trends. Says branded jewelry continues to be attractive globally. Says tourism purchases in the U.S. are "definitely down," but seeing pickups in other markets around the world. Comments made by CFO Ralph Nicoletti at the Jefferies 2015 Global Consumer Conference. Tiffany & Co is up 0.9% to $94.06 in morning trading.
09:36 EDTNFLXActive equity options trading on open
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08:42 EDTVZVerizon completes acquisition of AOL
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06:25 EDTGOOGGoogle introduces the News Lab on blog
Google said on its blog that it is launching the News Lab, "a new effort at Google to empower innovation at the intersection of technology and media. Our mission is to collaborate with journalists and entrepreneurs to help build the future of media. And we’re tackling this in three ways: though ensuring our tools are made available to journalists around the world -- and that newsrooms know how to use them; by getting helpful Google data sets in the hands of journalists everywhere; and through programs designed to build on some of the biggest opportunities that exist in the media industry today. The News Lab is a global effort, with teams in the U.S., U.K., France, and Germany to start -- and we’re also powering the training and research arm of Google’s Digital News Initiative in Europe. Google has created many technologies and platforms that have engaged the media industry. As both the media landscape and technology continue to evolve, we believe we can create a more informed world if technologists and journalists work together -- and we’re excited to be part of the effort." Reference Link
06:14 EDTGOOGGetty filed a complaint against Google to EU earlier this year, WSJ reports
Getty Images complained earlier this year to European antitrust authorities that Google unfairly favors its image search service over rivals, the Wall Street Journal reports. The European Commission told Getty in early June that its concerns were valid and added Getty as an “interested third person” in its search manipulation case against the search giant, according to a document reviewed by the Wall Street Journal. Reference Link
June 22, 2015
18:22 EDTGOOGGoogle offers sign-ups to test GoPro virtual reality prototype
Google (GOOG) has created a sign-up page to allow "creators" -- taken to mean video content creators -- to test its "Jump" virtual reality platform. Jump uses 16 GoPro (GPRO) cameras to create virtual reality video "that you can step inside of." Content creators selected by Google will get access to the platform beginning this summer. Reference Link
17:42 EDTVZVerizon offers raises to 38K employees
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16:44 EDTVZVerizon names Scott Krohn as Treasurer
Fran Shammo, CFO, Verizon (VZ), announced that Scott Krohn will join Verizon on July 6 as Treasurer, succeeding Matt Ellis, who was previously appointed to lead Finance in Verizon's Operations organization. Before joining Verizon, Krohn VP - Tax and Treasurer at 3M Company (MMM), where for the last three years his areas of focus included capital structure strategy and execution, pension asset management, financial risk management, and more recently tax planning and governance. Prior to this, Krohn worked for almost 15 years at Ford Motor Company, where he held a number of finance leadership positions in the U.S. and overseas, with his most recent roles there focusing on financial strategy and debt capital markets.
15:04 EDTCMCSAT-Mobile could abandon DISH for Comcast, Forbes contributor says
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14:42 EDTGOOGOculus potential not reflected in Facebook's stock price, Piper Jaffray says
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12:33 EDTXSteel stocks lag market after AK Steel sees Q2 results hindered by imports
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12:12 EDTGOOGUS Supreme Court rejects Google patent appeal over Street View, Reuters says
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08:02 EDTGOOGTransphorm announces new $70M investment led by KKR
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07:39 EDTNFLXNetflix price target raised to $950 on business momentum at BTIG
BTIG raised Buy rated Netflix's price target to $950 from $600 citing business model momentum. The firm's analyst believes Netflix can grow substantially beyond 50M domestic subs. In addition, as the MVPD bundle unravels, BTIG expects consumers will have money to spend on Netflix and other SVOD services. As the price/value of Netflix grows, the firm believes there is substantial upside potential to its ARPU estimates. BTIG expects Worldwide streaming subs to expand to over 108M by 2017, up from 101M, compared to 57M at year-end 2014. Furthermore, BTIG believes Netflix could reach 140M global subscribers by 2020.
07:31 EDTGOOGFacebook catching up to YouTube in video ads, Reuters says
Facebook (FB) is gaining market share on Google's (GOOG) YouTube in online video advertising, reports Reuters, citing a published Ampere Analysis report. Reference Link
06:59 EDTCMCSAComcast, NBCUniversal using cross-promotional strategy, NY Times says
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June 21, 2015
17:57 EDTCMCSARealD says 3D screens accounted for 47% of weekend 'Jurassic World' gross
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16:21 EDTCMCSAUniversal's 'Jurassic World' leads U.S. weekend box office with $102M
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14:49 EDTGOOGRaven shares may rally in next couple years, Barron's says
The recent selloff in Raven (RAVN) shares "looks like an opportunity," and the company's stock could rally over the next couple years, Barron's contends in its 'Sizing Up Small Caps' column. Barron's notes that the company has partnered with Google (GOOG) to develop high-altitude balloons for the experimental Project Loon, which, if expanded into a full project, could signal a boost for Raven. Reference Link
June 20, 2015
16:25 EDTSIGSignet Jewelers to host investor meeting
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