Post-Market News: AAPL, MSFT, GOOG, F, ORCL, WCN, AMD, TYC, BX, GNOM

0
Post-Market News: AAPL, MSFT, GOOG, F, ORCL, WCN, AMD, TYC, BX, GNOM
3112014 / Pixabay

Post-Market News: AAPL, MSFT, GOOG, F, ORCL, WCN, AMD, TYC, BX, GNOM

Every afternoon we provide an update on global market levels, company news, economic news, and hedge fund news.

Post Market Update

The 3rd Annual 360 Degree Credit Chronometer Report with Joseph Cioffi

CreditValueWalk's Raul Panganiban interviews Joseph Cioffi, Author of Credit Chronometer and Partner at Davis + Gilbert where he is Chair of the Insolvency, Creditor’s Rights & Financial Products Practice Group. In the interview, we discuss the findings of the 3rd Annual report. Q2 2021 hedge fund letters, conferences and more The following is a computer Read More


 Market Levels

 * US: Dow: 13553.10 (-0.30%), S&P 500: 1461.19 (-0.31%), NASDAQ: 3178.67 (-0.17%)

* Europe: CAC: 3553.69 (-0.78%), DAX: 7403.69 (-0.11%), FTSE: 5893.52 (-0.37%).

* Asia-Pacific: Australia: 4402.50 (0.28%), China: 2078.50 (-2.18%), Hong Kong: 20658.11 (0.14%), India: 5610.00 (0.58%), Japan: 9159.39 (0.00%).

* Metals: Gold: 1770.60 (-0.12%), Silver: 34.37 (-0.82%), Copper: 3.79 (-1.06%)

* Energy: Crude Oil: 96.62 (-2.40%), Natural Gas: 2.86 (-2.65%)

* Commodities: Corn: 7.48 (-4.35%), Soya Bean: 16.69 (-4.03%), Wheat: 8.78 (-5.00%)

* Currency: Euro (€) / US Dollar ($) (EURUSD): 1.3113 (0.15%), British Pound Sterling (UK£) / US Dollar ($) (GBPUSD): 1.6246 (-0.19%), US Dollar ($) / Japanese Yen (¥) (USDJPY): 78.7150 (0.43%)

* 10 year US Treasury: 1.842% (-0.024)

Market and Economy News Update

 U.S. markets end lower: U.S. markets finished lower for the first time in five days amid fresh geopolitical worries and a slump in New York-area manufacturing. The Dow Jones Industrial Average (INDEXDJX:.DJI) declined 40.27 points, or 0.30 percent, to end at 13,553.10. The S&P 500 (INDEXSP:.INX) erased 4.58 points, or 0.31 percent, to close at 1,461.19, while the NASDAQ Composite (INDEXNASDAQ:.IXIC) slipped 5.28 points, or 0.17 percent, to finish at 3,178.67. Despite ending the day in the red, all three major averages are still up more than 3 percent for the month.

Oil prices plunge: Oil prices sold-off on Monday amid speculation of a potential release from the Strategic Petroleum Reserve. Prices declined more than $3 in less than a minute in late trading, after having spent most of the session mildly higher. Crude oil for October delivery tanked 2.4 percent, to settle at $96.62 a barrel on the New York Mercantile Exchange. Brent oil for October settlement slid 2.8 percent to $113.43 a barrel on the London-based ICE Futures Europe exchange.

Stocks in Focus

 * Apple Inc. (NASDAQ:AAPL) crossed above $700 a share for the first time ever in extended hours trading on Monday after announcing record first-day orders for its new iPhone 5.

* Microsoft Corporation (NASDAQ:MSFT) said today that it will unveil its long awaited operating system, Windows 8 at an event on October 25 in New York City.

* Google Inc (NASDAQ:GOOG) has acquired Nik Software, makers of the photo editing software Snapseed, for an undisclosed amount.

* Ford Motor Company (NYSE:F) has reached a four-year deal with the Canadian Auto Workers union that will create about 500 jobs at the it’s assembly plant in Oakville, Ontario.

* Oracle Corporation (NASDAQ:ORCL) has agreed to acquire privately-held social recruiting and management software company, SelectMinds, for an undisclosed sum.

* Solid waste services company Waste Connections, Inc. (NYSE:WCN) closed 11 percent higher after it agreed to buy privately held R360 Environmental Solutions for about $1.3 billion in cash.

* Advanced Micro Devices, Inc. (NYSE:AMD) said that its chief financial officer, Thomas Seifert, has resigned. Senior vice president and corporate controller, Devinder Kumar will serve as interim CFO.

* Gilead Sciences, Inc. (NASDAQ:GILD) soared 6 percent after JPMorgan analyst Geoff Meacham said the company’s AIDS drug, Stribild, could emerge as a market leader in three to five years.

* Computer hardware manufacturer OCZ Technology Group Inc. (NASDAQ:OCZ) said that its board has appointed Alex Mei as interim chief executive, after Ryan Petersen announced his resignation.

* Chipotle Mexican Grill, Inc. (NYSE:CMG) gained 3 percent after ITG Research said third-quarter sales at the fast-food chain were tracking above consensus estimates.

* Industrial conglomerate Tyco International Ltd. (NYSE:TYC) declined 0.6 percent after it said that shareholders have approved a breakup of the company into three parts.

* Threshold Pharmaceuticals, Inc. (NASDAQ:THLD) plunged 20 percent after it said new clinical data for its experimental cancer drug, TH-302, failed to show improvement in survival rates among pancreatic cancer patients.

* Private-equity firms, Apollo Global Management LLC (NYSE:APO), Carlyle Group LP (NASDAQ:CG) and The Blackstone Group L.P. (NYSE:BX)’s GSO Capital Partners LP now rank among the ten biggest managers of collateralized loan obligation, according to a Bloomberg report.

* Complete Genomics, Inc. (NASDAQ:GNOM) soared 13 percent after agreeing to be acquired by Chinese genomics company BGI-Shenzhen for about $117.6 million, or $3.15 per share, in cash.

Hedge Fund News Update

* A group of LightSquared Inc.’s lenders have sought permission from a bankruptcy judge to go after Phil Falcone’s Harbinger Capital Partners for a $263.8 million loan the hedge-fund manager made to LightSquared in July 2011, The Wall Street Journal reported.

* Hedge fund managers and merger arbitrage traders are increasingly betting that the proposed merger between EADS NV (EPA:EAD) and BAE Systems plc (LON:BA) to create a European aerospace-defense giant may fail to go through, according to a Reuters report.

* Paul Crone, the former trading head at Touradji Capital Management LP has started a New York-based metals hedge fund, Citrine Capital Management, which will trade listed derivatives in gold, base metals and platinum-group metals.

* Hedge fund managers increased their bullish bets on oil to a four-month high in the seven days ended September 11, according to data from the Commodity Futures Trading Commission.

* New York-based Lasair Capital will close its long/short equity focused hedge funds of funds, and return about $250 million to investors.

* Healthcare hedge fund Palo Alto Investors gained 26.percent during the second quarter, largely on account of a surge in the shares of Onyx Pharmaceuticals, Inc. (NASDAQ:ONXX) its largest holding.

Brokerage Upgrades and Downgrades on Monday, September 17, 2012

* Access Midstream Partners LP (NYSE:ACMP) was raised to “buy” from “neutral” by analysts at Citigroup.

* The Cooper Companies, Inc. (NYSE:COO) was lifted to “outperform” from “neutral” by analysts at Zacks with a target price of $113.

* Crane Co. (NYSE:CR) was upgraded to “buy” from “neutral” by analysts at Citigroup with a target price of $47.

* Evercore Partners Inc. (NYSE:EVR) was raised to “fairly valued” from “over valued” by analysts at Rochdale Securities.

* Greenhill & Co., Inc. (NYSE:GHL) was lifted to “fairly valued” from “over valued” by analysts at Rochdale Securities.

* Gulfport Energy Corporation (NASDAQ:GPOR) was upgraded to “buy” from “accumulate” by analysts at Global Hunter Securities with a target price of $43.

* Moody’s Corporation (NYSE:MCO) was raised to “buy” from “hold” by analysts at Benchmark Co. with a target price of $51.

* Novartis AG (ADR) (NYSE:NVS) was lifted to “outperform” from “neutral” by analysts at Exane BNP Paribas.

* Sutor Technology Group Ltd. (NASDAQ:SUTR) was upgraded to “buy” from “neutral” by analysts at Roth Capital.

* Textainer Group Holdings Limited (NYSE:TGH) was raised to “outperform” from “market perform” by analysts at FBR Capital with a target price of $38.

* The Hanover Insurance Group, Inc. (NYSE:THG) was lifted to “outperform” from “market perform” by analysts at FBR Capital with a target price of $38.

* Tesla Motors Inc (NASDAQ:TSLA) was upgraded to “overweight” from “underweight” by analysts at Morgan Stanley with a target price of $50.

* Annaly Capital Management, Inc. (NYSE:NLY) was cut to “neutral” from “overweight” by analysts at JPMorgan Chase with a target price of $17.

* AK Steel Holding Corporation (NYSE:AKS) was lowered to “neutral” from “overweight” by analysts at JPMorgan Chase with a target price of $7.

* Advanced Micro Devices, Inc. (NYSE:AMD) was downgraded to “neutral” from “buy” by analysts at Longbow Research.

* Cliffs Natural Resources Inc (NYSE:CLF) was cut to “neutral” from “overweight” by analysts at JPMorgan Chase with a target price of $36.

* Discover Financial Services (NYSE:DFS) was downgraded to “hold” from “buy” by analysts at Stifel Nicolaus.

* Hasbro, Inc. (NASDAQ:HAS) was lowered to “hold” from “buy” by analysts at Stifel Nicolaus.

* International Paper Company (NYSE:IP) was cut by analysts at Longbow Research from a “buy” rating to a “neutral” rating.

* Legg Mason, Inc. (NYSE:LM) was downgraded to “hold” from “buy” by analysts at Jefferies Group with a target price of $30.

* Marathon Petroleum Corp (NYSE:MPC) was lowered to “neutral” from “buy” by analysts at Citigroup with a target price of $55.

* OpenTable Inc (NASDAQ:OPEN) was cut to “neutral” from “overweight” by analysts at Piper Jaffray with a target price of $49.

* Reliance Steel & Aluminum (NYSE:RS) was downgraded to “neutral” from “overweight” by analysts at JPMorgan Chase.

* Southwestern Energy Company (NYSE:SWN) was lowered to “neutral” from “add” by analysts at Capital One.

* Under Armour Inc (NYSE:UA) was cut to “hold” from “buy” by analysts at Argus.

* Wells Fargo & Company (NYSE:WFC) was downgraded to “hold” from “buy” by analysts at Stifel Nicolaus.

* United States Steel Corporation (NYSE:X) was lowered to “neutral” from “overweight” by analysts at JPMorgan Chase with a target price of $29.

No posts to display