Stocks making the biggest moves midday: MGM Resorts, AIG, Marathon Oil & more

Check out the companies making headlines midday Thursday:Bloomin’ Brands — Shares of the hospitality company jumped 8.95 percent on stronger-than-expected quarterly results. Avon Products — The cosmetics maker’s stock dropped 11 percent after Avon reported mixed results for the fourth quarter. Marathon Oil — Shares of Marathon Oil surged 8.75 percent after the company reported better-than-expected earnings and revenues in the fourth quarter as its total oil production rose 17 percent year-over-y


Check out the companies making headlines midday Thursday:Bloomin’ Brands — Shares of the hospitality company jumped 8.95 percent on stronger-than-expected quarterly results. Avon Products — The cosmetics maker’s stock dropped 11 percent after Avon reported mixed results for the fourth quarter. Marathon Oil — Shares of Marathon Oil surged 8.75 percent after the company reported better-than-expected earnings and revenues in the fourth quarter as its total oil production rose 17 percent year-over-y
Stocks making the biggest moves midday: MGM Resorts, AIG, Marathon Oil & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred imbert, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, earnings, estimates, company, marathon, mgm, stocks, biggest, aig, oil, share, midday, results, reported, quarterly, resorts, quarter, cents, making, moves, shares


Stocks making the biggest moves midday: MGM Resorts, AIG, Marathon Oil & more

Check out the companies making headlines midday Thursday:

Bloomin’ Brands — Shares of the hospitality company jumped 8.95 percent on stronger-than-expected quarterly results. Bloomin’ Brands posted earnings per share of 30 cents and revenue of $1.01 billion. Analysts polled by Refinitiv expected a profit of 26 cents a share on sales of $1.001 billion.

Avon Products — The cosmetics maker’s stock dropped 11 percent after Avon reported mixed results for the fourth quarter. Avon’s profit of 7 cents a share was in line with a Refinitiv estimate. Sales of $1.402 billion missed expectations, however.

MGM Resorts — Shares of MGM fell 6.36 percent after the casino and resort operator reported a diluted loss per share of 6 cents in the current quarter compared to diluted earnings per share of $2.39 in the prior year quarter. MGM’s fourth-quarter earnings came in one cent above estimates. It also announced an eight percent dividend hike to 13 cents per share from 12 cents.

American International Group — AIG’s stock slid 9 percent after the insurance company posted an unexpected loss of 63 cents per share, after consensus forecasts had predicted a profit of 42 cents per share. Its results were hurt by weaker returns in the equity and credit markets.

Marathon Oil — Shares of Marathon Oil surged 8.75 percent after the company reported better-than-expected earnings and revenues in the fourth quarter as its total oil production rose 17 percent year-over-year. The oil producer also sees oil output rising 10 percent in 2019.

Six Flags Entertainment — The theme park operator sunk nearly 13 percent after the company missed Wall Street’s revenue expectations for fourth-quarter. The quarterly results were mixed though — profit was still well-above consensus expectations.

Sleep Number — Shares of mattress firm Sleep Number rose 14.7 percent Thursday after the company reported better-than-expected earnings and forecast a strong outlook for 2019. The Minneapolis-based company also reported a 13 percent increase in sales from a year ago.

Tempur Sealy – Despite issuing an earnings outlook largely below Wall Street estimates, Tempur Sealy has erased its premarket losses, and was up 2.9 percent. The Kentucky-based firm also posted weaker-than-expected earnings, but it did deliver stronger quarterly sales numbers than analysts anticipated.

Coca-Cola —Shares of Coca-Cola fell 8.44 percent after it released a disappointing growth forecast for 2019. The company reported that it has been battling currency headwinds which it claims hurt its fourth quarter earnings by 10 percent. Coke reported fourth-quarter earnings in line with estimates, and revenues that beat estimates by $22 million.

Cisco Systems — Cisco System’s stock rose 2.93 percent after its second-quarter results beat estimates on the top and bottom lines. The hardware company beat analyst estimates by a penny with an adjusted quarterly profit of 73 cents. It’s growth in cyber security and applications software boosted its revenues. Cisco added $15 billion to its company stock buyback program and raised quarterly dividends by 6 percent.

Amazon — Shares of Amazon fell 1 percent following the company’s announcement that it will not build a headquarters in New York in response to a large opposition from state and local politicians.

—CNBC’s Nadine El-Bawab, Yun Li, JR Reed and Kate Rooney contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-14  Authors: fred imbert, spencer platt, getty images news, getty images
Keywords: news, cnbc, companies, earnings, estimates, company, marathon, mgm, stocks, biggest, aig, oil, share, midday, results, reported, quarterly, resorts, quarter, cents, making, moves, shares


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks making the biggest moves midday: Teva Pharmaceuticals, Hilton, Groupon & more

Check out the companies making headlines midday Wednesday:Diebold Nixdorf — Shares of the ATM maker surged more than 30 percent after reporting a better-than-expected quarterly revenue and upbeat guidance for 2019. Hilton Worldwide — The hotel operator climbed 5.8 percent on the back of better-than-expected quarterly earnings. Hilton said in its report its bottom line got a boost from higher room rates in the previous quarter. Dish Network — Dish shares dropped more than 8 percent after satellit


Check out the companies making headlines midday Wednesday:Diebold Nixdorf — Shares of the ATM maker surged more than 30 percent after reporting a better-than-expected quarterly revenue and upbeat guidance for 2019. Hilton Worldwide — The hotel operator climbed 5.8 percent on the back of better-than-expected quarterly earnings. Hilton said in its report its bottom line got a boost from higher room rates in the previous quarter. Dish Network — Dish shares dropped more than 8 percent after satellit
Stocks making the biggest moves midday: Teva Pharmaceuticals, Hilton, Groupon & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert, drew angerer, getty images news, getty images
Keywords: news, cnbc, companies, higher, earnings, million, making, betterthanexpected, midday, pharmaceuticals, share, revenue, biggest, quarterly, groupon, hilton, teva, stock, stocks, analyst, moves, shares


Stocks making the biggest moves midday: Teva Pharmaceuticals, Hilton, Groupon & more

Check out the companies making headlines midday Wednesday:

Diebold Nixdorf — Shares of the ATM maker surged more than 30 percent after reporting a better-than-expected quarterly revenue and upbeat guidance for 2019. Diebold expects adjusted earnings before interest, taxes, appreciation and amortization to range between $380 million and $420 million, well above a FactSet estimate of $339.8 million.

Freeport-McMoRan — Freeport-McMoRan’s stock jumped more than 4 percent after an analyst at Morgan Stanley upgraded it, noting the company will get a boost from higher copper prices.

Hilton Worldwide — The hotel operator climbed 5.8 percent on the back of better-than-expected quarterly earnings. Hilton said in its report its bottom line got a boost from higher room rates in the previous quarter.

Dish Network — Dish shares dropped more than 8 percent after satellite TV service company’s fourth-quarter earnings missed analyst estimates. Dish also said it lost a net 334,000 subscribers in the previous quarters, more than expected.

Lattice Semiconductor — The chipmaker’s stock surged 24.6 percent after posting adjusted earnings per share of 8 cents, in line with analyst expectations, and better-than-expected quarterly revenue. Lattice also issued better-than-expected sales guidance for first-quarter 2019.

Activision Blizzard — Shares of Activision jumped more than 5 percent after the video game publisher reported adjusted quarterly profit of $1.29 per share, one cent above estimates. Activision also announced it would cut its workforce by about 8 percent, even as it boosts the number of developers by about 20 percent to increase new content.

McDermott International — Shares of McDermott tanked more than 23 percent after the construction company said it expects to report an additional $168 million charge for its Cameron LNG project in the fourth quarter of 2018. McDermott blamed the charge on unfavorable labor productivity, and increases in subcontract, commissioning and construction management costs.

Groupon — Groupon’s stock plummeted 13.51 percent on weaker-than-expected fourth-quarter earnings. The e-commerce company’s earnings were 10 cents per share, falling 3 cents short of analyst estimates. Groupon also said it expects earnings before interest, taxes, appreciation and amortization of $270 million for 2019, below a FactSet estimate of $301.6 million.

Teva Pharmaceuticals — Shares of the Israel-based drugmaker dropped more than 7 percent Wednesday after the company issued a disappointing revenue forecast for 2019, citing weaker-than-expected sales from its multiple sclerosis drug Copaxone. The world’s largest generic drugmaker also posted a larger-than-anticipated drop in profit for the fourth quarter. Teva is currently on pace for its worst day of trading since early August of last year.

Anadarko Petroleum, Devon Energy, Hess, Newfield Exploration — Energy stocks are far and away the best performing group in the S&P 500, boosted by a rise in crude oil prices. The benchmark West Texas Intermediate hit its highest level in over a week, driven in part by bullish data from the American Petroleum Institute that showed a surprise draw down in U.S. oil inventories. Among the individual stocks leading the group higher today include Anadarko Petroleum, Devon Energy, Hess, and Newfield Exploration – all higher by more than 3 percent.

—CNBC’s JR Reed, Yun Li and Nadine El-Bawab contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert, drew angerer, getty images news, getty images
Keywords: news, cnbc, companies, higher, earnings, million, making, betterthanexpected, midday, pharmaceuticals, share, revenue, biggest, quarterly, groupon, hilton, teva, stock, stocks, analyst, moves, shares


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Xi will reportedly meet with Mnuchin, Lighthizer as US and China try to strike a trade deal

Chinese President Xi Jinping will meet with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on Friday as both sides pursue a trade deal before an early March deadline, the South China Morning Post reported. The report, which cites sources close to the matter, said Xi “is scheduled to meet” with key members of the U.S. trade delegation that’s in Beijing, including Lighthizer and Mnuchin. China and the U.S. are trying to strike a deal before March 2. The trade tus


Chinese President Xi Jinping will meet with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on Friday as both sides pursue a trade deal before an early March deadline, the South China Morning Post reported. The report, which cites sources close to the matter, said Xi “is scheduled to meet” with key members of the U.S. trade delegation that’s in Beijing, including Lighthizer and Mnuchin. China and the U.S. are trying to strike a deal before March 2. The trade tus
Xi will reportedly meet with Mnuchin, Lighthizer as US and China try to strike a trade deal Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert, mauricio valenzuela, picture alliance, getty images
Keywords: news, cnbc, companies, xi, trade, reportedly, morning, strike, lighthizer, treasury, deal, tariffs, meet, mnuchin, china, chinese, report, president, try


Xi will reportedly meet with Mnuchin, Lighthizer as US and China try to strike a trade deal

Chinese President Xi Jinping will meet with Treasury Secretary Steven Mnuchin and U.S. Trade Representative Robert Lighthizer on Friday as both sides pursue a trade deal before an early March deadline, the South China Morning Post reported.

The report, which cites sources close to the matter, said Xi “is scheduled to meet” with key members of the U.S. trade delegation that’s in Beijing, including Lighthizer and Mnuchin. Chinese Vice Premier Liu He is also expected to attend a banquet for the U.S. delegation this week, according to the Morning Post.

China and the U.S. are trying to strike a deal before March 2. Otherwise, additional U.S. tariffs on Chinese goods could take effect.

The report comes a day after President Donald Trump said he would consider pushing back the current March deadline if it means a deal between the two countries can be reached soon. He added, however, he “would prefer not to.”

The trade tussle between China and the U.S. has sent ripples through financial markets over the past year. Investors have fretted over the impact of tariffs on corporate profits.

Neither the Treasury Department nor the U.S. Trade Representative’s office responded to CNBC’s request for comment.

Click here to read the full story.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert, mauricio valenzuela, picture alliance, getty images
Keywords: news, cnbc, companies, xi, trade, reportedly, morning, strike, lighthizer, treasury, deal, tariffs, meet, mnuchin, china, chinese, report, president, try


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Morgan Stanley has 5.6% stake in Twitter, making it the second-biggest shareholder behind Vanguard

Morgan Stanley has a 5.6 percent stake in social media company Twitter, according to a Securities and Exchange Commission filing released Wednesday. The stake makes the banking giant the second-largest investor in Twitter, behind The Vanguard Group, which had a more than 9 percent stake in the company as of last September, FactSet data show. According to the filing, Morgan Stanley owned 43.3 million Twitter shares as of Dec. 31. The bank had a stake of 43.72 million shares as of Sept. 30, FactSe


Morgan Stanley has a 5.6 percent stake in social media company Twitter, according to a Securities and Exchange Commission filing released Wednesday. The stake makes the banking giant the second-largest investor in Twitter, behind The Vanguard Group, which had a more than 9 percent stake in the company as of last September, FactSet data show. According to the filing, Morgan Stanley owned 43.3 million Twitter shares as of Dec. 31. The bank had a stake of 43.72 million shares as of Sept. 30, FactSe
Morgan Stanley has 5.6% stake in Twitter, making it the second-biggest shareholder behind Vanguard Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert, andrew burton, getty images news, getty images
Keywords: news, cnbc, companies, million, making, stanley, morgan, shareholder, data, secondbiggest, 56, twitter, company, stake, vanguard, factset, shares, filing


Morgan Stanley has 5.6% stake in Twitter, making it the second-biggest shareholder behind Vanguard

Morgan Stanley has a 5.6 percent stake in social media company Twitter, according to a Securities and Exchange Commission filing released Wednesday.

The stake makes the banking giant the second-largest investor in Twitter, behind The Vanguard Group, which had a more than 9 percent stake in the company as of last September, FactSet data show.

According to the filing, Morgan Stanley owned 43.3 million Twitter shares as of Dec. 31. The bank had a stake of 43.72 million shares as of Sept. 30, FactSet data show.

Twitter shares have been on fire this year, surging more than 10 percent in 2019. Last year, the stock rose 19.7 percent to post its third straight year of gains.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert, andrew burton, getty images news, getty images
Keywords: news, cnbc, companies, million, making, stanley, morgan, shareholder, data, secondbiggest, 56, twitter, company, stake, vanguard, factset, shares, filing


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Goldman CEO David Solomon says US economy still ‘chugging along,’ chance of recession quite small

Goldman Sachs CEO David Solomon said Wednesday the chances of a recession are quite small, even though the rate of economic growth is slowing. “There is no question that the momentum of growth in the United States has slowed,” Solomon told Sara Eisen on CNBC’s “Closing Bell.” “That said, economic activity in the United States is still chugging along pretty well. I think we’re in a position, at the moment, where we should see reasonable growth during the course of the year.” “The chance of recess


Goldman Sachs CEO David Solomon said Wednesday the chances of a recession are quite small, even though the rate of economic growth is slowing. “There is no question that the momentum of growth in the United States has slowed,” Solomon told Sara Eisen on CNBC’s “Closing Bell.” “That said, economic activity in the United States is still chugging along pretty well. I think we’re in a position, at the moment, where we should see reasonable growth during the course of the year.” “The chance of recess
Goldman CEO David Solomon says US economy still ‘chugging along,’ chance of recession quite small Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert
Keywords: news, cnbc, companies, states, economic, small, solomon, chugging, economy, quite, goldman, chance, growth, united, yearthe, told, david, recession, ceo


Goldman CEO David Solomon says US economy still 'chugging along,' chance of recession quite small

Goldman Sachs CEO David Solomon said Wednesday the chances of a recession are quite small, even though the rate of economic growth is slowing.

“There is no question that the momentum of growth in the United States has slowed,” Solomon told Sara Eisen on CNBC’s “Closing Bell.” “That said, economic activity in the United States is still chugging along pretty well. I think we’re in a position, at the moment, where we should see reasonable growth during the course of the year.”

“The chance of recession in 2019 is quite small and the expansion should probably continue,” Solomon added.


Company: cnbc, Activity: cnbc, Date: 2019-02-13  Authors: fred imbert
Keywords: news, cnbc, companies, states, economic, small, solomon, chugging, economy, quite, goldman, chance, growth, united, yearthe, told, david, recession, ceo


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Emerging markets are red hot right now. Here are three investments for the rest of 2019

Investors thinking about betting in emerging markets should look at Brazilian stocks, Mexican bonds and banks in the space, according to strategists and analysts. Emerging markets have been one of the hottest trades of the year. The iShares MSCI Emerging Markets exchange-traded fund (EEM) is up 7.6 percent. “This is one of the best times to diversify into emerging markets,” said Luca Paolini, chief strategist at Pictet Asset Management. “Everything is pointing to outperformance in emerging marke


Investors thinking about betting in emerging markets should look at Brazilian stocks, Mexican bonds and banks in the space, according to strategists and analysts. Emerging markets have been one of the hottest trades of the year. The iShares MSCI Emerging Markets exchange-traded fund (EEM) is up 7.6 percent. “This is one of the best times to diversify into emerging markets,” said Luca Paolini, chief strategist at Pictet Asset Management. “Everything is pointing to outperformance in emerging marke
Emerging markets are red hot right now. Here are three investments for the rest of 2019 Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: fred imbert, cris faga, nurphoto via getty images
Keywords: news, cnbc, companies, investors, right, yields, war, markets, strategists, red, bonds, betting, hot, investments, eem, rest, stocks, 2019, emerging


Emerging markets are red hot right now. Here are three investments for the rest of 2019

Investors thinking about betting in emerging markets should look at Brazilian stocks, Mexican bonds and banks in the space, according to strategists and analysts.

Brazilian stocks are off to a high-flying start this year as investors bet newly minted President Jair Bolsonaro will push through key reforms. In Mexico, relatively high yields make their bonds attractive. Strategists are also betting that a dovish U.S. Federal Reserve, constructive outlooks for 2019 and a possible resolution to the U.S.-China trade war can bolster emerging-market banks.

Emerging markets have been one of the hottest trades of the year. The iShares MSCI Emerging Markets exchange-traded fund (EEM) is up 7.6 percent. EEM fell 17.1 percent last year and was in bear-market territory, trading 20 percent from its 52-week high.

“This is one of the best times to diversify into emerging markets,” said Luca Paolini, chief strategist at Pictet Asset Management. “Everything is pointing to outperformance in emerging markets.”


Company: cnbc, Activity: cnbc, Date: 2019-02-12  Authors: fred imbert, cris faga, nurphoto via getty images
Keywords: news, cnbc, companies, investors, right, yields, war, markets, strategists, red, bonds, betting, hot, investments, eem, rest, stocks, 2019, emerging


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Hedge-fund legend Paul Tudor Jones: ‘I’m very bullish on US stocks’

Hedge-fund manager Paul Tudor Jones said Monday he is bullish U.S. stocks this year, noting American equities will outperform their global counterparts. “I think this year we’re going to continue to have U.S. exceptionalism and U.S. outperformance,” Tudor Jones told CNBC’s Bob Pisani in an interview. Rates won’t go down, they will probably go back up and I think the dollar stays firm,” Tudor Jones said. “Last year, we walked into a situation with a lot of euphoria; a huge amount of long-equity p


Hedge-fund manager Paul Tudor Jones said Monday he is bullish U.S. stocks this year, noting American equities will outperform their global counterparts. “I think this year we’re going to continue to have U.S. exceptionalism and U.S. outperformance,” Tudor Jones told CNBC’s Bob Pisani in an interview. Rates won’t go down, they will probably go back up and I think the dollar stays firm,” Tudor Jones said. “Last year, we walked into a situation with a lot of euphoria; a huge amount of long-equity p
Hedge-fund legend Paul Tudor Jones: ‘I’m very bullish on US stocks’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, leanne miller
Keywords: news, cnbc, companies, jones, trade, im, stocks, washed, 500, outperform, told, think, tudor, legend, hedgefund, sp, paul, bullish


Hedge-fund legend Paul Tudor Jones: 'I'm very bullish on US stocks'

Hedge-fund manager Paul Tudor Jones said Monday he is bullish U.S. stocks this year, noting American equities will outperform their global counterparts.

“I think this year we’re going to continue to have U.S. exceptionalism and U.S. outperformance,” Tudor Jones told CNBC’s Bob Pisani in an interview. “The S&P 500 will outperform its peers, it will outperform emerging markets.”

“I think from that, you’ll have to take all the correlated trades. Rates won’t go down, they will probably go back up and I think the dollar stays firm,” Tudor Jones said. “I’m very bullish in the U.S. stock market.”

The S&P 500 has surged about 8 percent so far this year after a rip-roaring rally in January. That sharp bounce followed a massive decline in December that briefly sent the broad index into bear-market territory on an intraday basis.

“Last year, we walked into a situation with a lot of euphoria; a huge amount of long-equity positions both in the U.S. and globally,” Tudor Jones said. “We took those positions and we washed them into a trillion dollars in corporate buybacks. Fast forward to where we are today, all that leveraged positioning … that’s been washed out.”

Equities have gotten a boost this year as the Federal Reserve has signaled it will be patient in raising rates. Stocks have also gotten a boost as U.S. and Chinese trade officials try to strike a trade deal before an early March deadline.

Tudor Jones is famous for making big macro calls. One of his biggest predictions came when he correctly called the 1987 crash. However, Tudor Jones told CNBC in June he thought the stocks could go “crazy” higher to end 2018. The S&P 500 closed last year down more than 6 percent.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, leanne miller
Keywords: news, cnbc, companies, jones, trade, im, stocks, washed, 500, outperform, told, think, tudor, legend, hedgefund, sp, paul, bullish


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Stocks making the biggest moves midday: Avis Budget Group, Pfizer, Tesla & more

Check out the companies making headlines midday on Monday:Avis Budget Group — Shares of the car-rental company jumped 7 percent after Goldman Sachs upgraded it to buy from sell, citing an attractive valuation. The analyst also sees a 36.3 percent upside for Avis over the next 12 months. Electronic Arts — The video-game maker climbed more than 5 percent after Bank of America Merrill Lynch upgraded it to buy from neutral. Loews Corp — Shares of the hospitality company fell 6.2 percent as Loews rep


Check out the companies making headlines midday on Monday:Avis Budget Group — Shares of the car-rental company jumped 7 percent after Goldman Sachs upgraded it to buy from sell, citing an attractive valuation. The analyst also sees a 36.3 percent upside for Avis over the next 12 months. Electronic Arts — The video-game maker climbed more than 5 percent after Bank of America Merrill Lynch upgraded it to buy from neutral. Loews Corp — Shares of the hospitality company fell 6.2 percent as Loews rep
Stocks making the biggest moves midday: Avis Budget Group, Pfizer, Tesla & more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, shares, midday, moves, biggest, stocks, upgraded, report, citing, target, tesla, buy, fell, pfizer, group, upside, making, avis, budget, tire, company


Stocks making the biggest moves midday: Avis Budget Group, Pfizer, Tesla & more

Check out the companies making headlines midday on Monday:

Avis Budget Group — Shares of the car-rental company jumped 7 percent after Goldman Sachs upgraded it to buy from sell, citing an attractive valuation. The analyst also sees a 36.3 percent upside for Avis over the next 12 months.

Electronic Arts — The video-game maker climbed more than 5 percent after Bank of America Merrill Lynch upgraded it to buy from neutral. Bank of America also hiked its price target on Electronic Arts to $110 a share from $95.

Loews Corp — Shares of the hospitality company fell 6.2 percent as Loews reported a loss of 53 cents a share for its fourth-quarter report. Lowes revenue in the quarter fell to $3.3 billion, down over $250 million from the same period a year ago.

Pfizer — One of the world’s largest pharmaceutical companies slid 1.5 percent Monday after its Japanese subsidiary recalled hundreds of thousands of tablets of a drug for high blood pressure. More than 763,000 tablets of the drug Amvalo, manufactured from April to July in Mylan, are the subject of recall, Pfizer Japan said in a statement.

Goodyear Tire & Rubber Company — Shares of the he multinational tire manufacturing company dropped more than 3.5 percent in midday trading after two brokerages downgraded the stock. Argus Research cut the equity to a hold rating citing reduced earnings estimates and near-term cost headwinds.

Tesla – The electric carmaker rallied after Canaccord Genuity upgraded Tesla to buy from hold, with a new price target that represents a 47 percent upside for the stock. The firm predicted more electric vehicle penetration and the company getting closer to building an affordable car for the masses.

Activision Blizzard — The video gaming giant fell 7 percent Monday following a Bloomberg report that it plans to announce job cuts “in the hundreds” this week. The layoffs would be part of a restructuring effort as the company faces sluggish sales, Bloomberg reported, citing unnamed sources familiar with the matter.

Norfolk Southern Corp. — The railroad holding company surged 4 percent after outlining a strategic plan that focuses on increased productivity and revenue growth at its investor conference. CEO James Squires said in a press release that the lower costs and more efficiency would “deliver stronger margins.”

Avaya Holdings — The multinational technology company that specializes in business communications, dropped 11.74 percent following its release of weaker-than-expected earnings and revenues for their first-quarter. The company also named Kieran McGrath as their new CFO, effective February 15, 2019.

—CNBC’s Tom Franck, Kate Rooney, Nadine El-Bawab and Michael Sheetz contributed to this report.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, brendan mcdermid
Keywords: news, cnbc, companies, shares, midday, moves, biggest, stocks, upgraded, report, citing, target, tesla, buy, fell, pfizer, group, upside, making, avis, budget, tire, company


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Morgan Stanley just made its biggest deal since the financial crisis and says it wants to do more

Morgan Stanley announced Monday it will buy Solium Capital, a Canadian company that prepares stock plans for start-ups, for $900 million. The Wall Street bank said it will pay $19.15 Canadian per share for Calgary-based Solium, adding it expects the transaction to close in the second quarter. The deal is Morgan Stanley’s biggest since the financial crisis and comes three days after the largest bank merger in a decade was announced. BB&T agreed to buy SunTrust Banks for more than $28 billion in a


Morgan Stanley announced Monday it will buy Solium Capital, a Canadian company that prepares stock plans for start-ups, for $900 million. The Wall Street bank said it will pay $19.15 Canadian per share for Calgary-based Solium, adding it expects the transaction to close in the second quarter. The deal is Morgan Stanley’s biggest since the financial crisis and comes three days after the largest bank merger in a decade was announced. BB&T agreed to buy SunTrust Banks for more than $28 billion in a
Morgan Stanley just made its biggest deal since the financial crisis and says it wants to do more Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, adam galica
Keywords: news, cnbc, companies, stock, plan, street, canadian, financial, morgan, stanley, biggest, clients, crisis, wealth, solium, wants, wall, deal


Morgan Stanley just made its biggest deal since the financial crisis and says it wants to do more

Morgan Stanley announced Monday it will buy Solium Capital, a Canadian company that prepares stock plans for start-ups, for $900 million.

The Wall Street bank said it will pay $19.15 Canadian per share for Calgary-based Solium, adding it expects the transaction to close in the second quarter.

The “goal will obviously be two-fold: 1) to run a profitable stock plan administration business and expand its distribution to the millions of MS clients, and 2) deliver MS’s world class wealth management services into existing and future Solium stock plan clients,” Evercore ISI analyst Glenn Schorr said in a note to clients. “Solium will add even more to the stability of the wealth mgmt. division as it’s a subscription model with an 11% revenue [compound annual growth rate] over the last 5 years.”

The deal is Morgan Stanley’s biggest since the financial crisis and comes three days after the largest bank merger in a decade was announced. BB&T agreed to buy SunTrust Banks for more than $28 billion in an all-stock deal.

Morgan Stanley CEO James Gorman told The Wall Street Journal he’d like to “do more” acquisitions. “Last year was the first time we felt comfortable that we could even consider” acquisitions.

—CNBC’s Michael Bloom contributed to this report.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, adam galica
Keywords: news, cnbc, companies, stock, plan, street, canadian, financial, morgan, stanley, biggest, clients, crisis, wealth, solium, wants, wall, deal


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Avis shares surge after ‘double upgrade’ from Goldman Sachs

Shares of car-rental company Avis Budget Group surged more than 7 percent Monday after an analyst at Goldman Sachs completely changed his tune on it. Analyst David Tamberrino upgraded Avis to buy all the way from sell and hiked his 12-month price target on the stock to $35 from $30. Tamberrino’s new price target implies a 36.3 percent rise from Avis’ close of $25.68 on Friday. Avis shares plunged nearly 49 percent last year, notching their worst annual performance since 2008, when they shed 94.6


Shares of car-rental company Avis Budget Group surged more than 7 percent Monday after an analyst at Goldman Sachs completely changed his tune on it. Analyst David Tamberrino upgraded Avis to buy all the way from sell and hiked his 12-month price target on the stock to $35 from $30. Tamberrino’s new price target implies a 36.3 percent rise from Avis’ close of $25.68 on Friday. Avis shares plunged nearly 49 percent last year, notching their worst annual performance since 2008, when they shed 94.6
Avis shares surge after ‘double upgrade’ from Goldman Sachs Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, stock, valuation, price, shares, sachs, target, tamberrino, goldman, rates, double, start, avis, surge, company, upgrade


Avis shares surge after 'double upgrade' from Goldman Sachs

Shares of car-rental company Avis Budget Group surged more than 7 percent Monday after an analyst at Goldman Sachs completely changed his tune on it.

Analyst David Tamberrino upgraded Avis to buy all the way from sell and hiked his 12-month price target on the stock to $35 from $30. Tamberrino’s new price target implies a 36.3 percent rise from Avis’ close of $25.68 on Friday.

“We believe valuation looks attractive for mean reversion — currently trading at 6.2x our 2019E EBITDA estimate vs. a historical trough multiple of 5.9x and long-term average 8.4x — as most of the headwinds the industry (and the company) is facing appear priced in,” Tamberrino said in a note to clients.

Avis shares plunged nearly 49 percent last year, notching their worst annual performance since 2008, when they shed 94.62 percent. The stock is up more than 14 percent to start 2019.

“With CAR’s valuation below historical averages, we see an opportunity for the company’s multiple to mean revert as we believe data points on volumes and pricing are stabilizing and the company can start realizing benefits from cost savings actions,” Tamberrino said.

Tamberrino added, however, that some of the risks Avis faces include increasing price competition from rivals like Hertz Global and ride-hailing companies like Uber as well as rising interest rates. The Federal Reserve raised rates four times last year.

Subscribe to CNBC on YouTube.


Company: cnbc, Activity: cnbc, Date: 2019-02-11  Authors: fred imbert, luke sharrett, bloomberg, getty images
Keywords: news, cnbc, companies, stock, valuation, price, shares, sachs, target, tamberrino, goldman, rates, double, start, avis, surge, company, upgrade


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post