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Stock Market & Financial Investment News

News Breaks
November 19, 2012
15:27 EDTCRMT, URBN, NUAN, DY, BRCD, AMCN, QIHU, KKD, CO, BOBE, A, XUE, PWRD, JACK, CHRMCompanies reporting After the Market Close on Monday, November 19
Notable companies reporting after the closing bell on Monday include Agilent Technologies (A), Airmedia Group (AMCN), America's CAR-MART (CRMT), Bob Evans Farms (BOBE), Brocade Communications Systems (BRCD), Charm Communications (CHRM), China Cord Blood Corp (CO), Dycom Industries (DY), Jack In The Box (JACK), Krispy Kreme Doughnuts (KKD), Nuance Communications (NUAN), Perfect World (PWRD), Qihoo 360 Technology (QIHU), Urban Outfitters (URBN), and Xueda Education Group (XUE).
News For A;AMCN;CRMT;BOBE;BRCD;CHRM;CO;DY;JACK;KKD;NUAN;PWRD;QIHU;URBN;XUE From The Last 14 Days
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July 6, 2015
08:14 EDTQIHUQihoo 360 special committee engages financial advisor
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06:18 EDTAMCNAirMedia special committee appoints advisors
AirMedia Group announced that a special committee of independent directors of the company's board has retained Duff & Phelps and Duff & Phelps Securities as its financial advisor and Kirkland & Ellis as its international legal counsel. As previously announced, the company's board formed the Special Committee to consider a "going-private" transaction for $3.00 in cash per ordinary share or $6.00 in cash per American depositary share, proposed by Herman Man Guo, chairman of the board and CEO of the company, on behalf of himself and management of the company, in a preliminary non-binding proposal letter, dated June 19.
July 2, 2015
16:24 EDTPWRDMan Group reports 5.31% stake in Perfect World
July 1, 2015
15:07 EDTDYDycom upgraded to Buy from Neutral at DA Davidson
13:05 EDTDYOn The Fly: Top stock stories at midday
Stocks on Wall Street remain higher at midday but off their best levels, which were achieved shortly after the open. The strength is being largely attributed to hopes for a resolution to the Greek crisis, but the move was also supported by better than expected domestic data on employment, construction and manufacturing. ECONOMIC EVENTS: In the U.S., ADP reported the addition of 237,000 private sector jobs in June, versus expectations for 218,000 job additions. Markit's manufacturing purchasing managers' index for June came in at 53.6, narrowly topping the 53.4 forecast. ISM's manufacturing index rose to 53.5 in June, topping May's 52.8 reading and the 53.2 consensus forecast. Construction spending rose 0.8% in May, versus the expected growth of 0.5%. In China, manufacturing PMI's came in short of expectations. The HSBC/Markit PMI slipped to a final 49.4 in June from the flash reading of 49.6 reading, while the official manufacturing PMI fell to 50.1 in June from 50.9 in May. In Europe, Greece officially missed its $1.7B payment to the International Monetary Fund, becoming the first developed country to do so. The Financial Times then reported the Greek government was indicating it was willing to make concessions that get it much closer to creditor demands. The new proposal for budget cuts and policy overhauls from Prime Minister Alexis Tsipras was dismissed by European officials, however, and uncertainty remains high surrounding the next steps in Europe. COMPANY NEWS: In a blockbuster deal in the insurance industry, ACE Limited (ACE) agreed to acquire Chubb (CB) in a transaction valued in excess of $28B in cash and stock. ACE said it expects that the deal will be immediately accretive to EPS and book value, and by year three, the transaction will be accretive to EPS on a double-digit basis and will be accretive to ROE. The combined company is expected to be the number one global Property and Casualty insurance company by P&C underwriting income and the number two U.S. public P&C insurer by market cap. ACE shares advance 2% following the deal announcement, while Chubb surged 29%... General Motors (GM) reported its U.S. sales fell 3% in June compared to the same month of last year, while Ford (F) said its sales grew 1.6% last month compared to last year. FCA US, the parent of the Chrysler and Jeep brands, reported U.S. sales increased 8% compared with sales in June 2014. MAJOR MOVERS: Among the notable gainers was Schnitzer Steel (SCHN), which rose 14% after BofA Merrill Lynch upgraded the shares two notches to Buy from Underperform and raised its price target to $21, saying it believes scrap pricing should be nearing a trough with stability expected ahead. Also higher were shares of Dycom (DY), which gained 7% after the company raised its fourth quarter guidance for both earnings and revenue and announced a $40M stock repurchase program. Among the noteworthy losers was Chambers Street Properties (CSG), which fell 8% after announcing a merger agreement with Gramercy Property Trust (GPT), whose shares also slipped 3% following the announcement of the stock-for-stock transaction. Also lower were shares of Peabody Energy (BTU), which dropped 24% after cutting its second quarter guidance on Tuesday night. The company sees its adjusted EPS below its original target due to multiple factors, including flash flood events in June and price drops in Australian metallurgical coal. INDEXES: Near midday, the Dow was up 88.42, or 0.5%, to 17,707.93, the Nasdaq was up 13.01, or 0.26%, to 4,999.88, and the S&P 500 was up 8.62, or 0.42%, to 2,071.73.
08:01 EDTDYDycom authorizes additional $40M stock repurchase program
Dycom has authorized an additional $40Mto repurchase shares of Dycom's outstanding common stock. The stock repurchases are authorized to be made over the next 18 months. The company has substantially completed its previously authorized share repurchases having bought $39.3M of shares out of the previously authorized $40M. As of June 30, the company had approximately 33.8M shares of common stock outstanding.
07:58 EDTDYDycom raises Q4 EPS to 79c-87c from 74c-82c, consensus 78c
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June 29, 2015
16:40 EDTQIHUConsortium outlines proposal for going-private transaction with Qihoo 360
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16:35 EDTAMCNHerman Man Guo reports 16.0% stake in AirMedia
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05:49 EDTQIHUStocks with implied volatility movement; ZTS QIHU
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June 28, 2015
13:59 EDTCOChina Cord Blood merger deal seems 'meager,' Barron's says
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June 26, 2015
10:00 EDTCOOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: ARM Holdings (ARMH) downgraded to Underperform from Market Perform at Bernstein... Apogee Enterprises (APOG) downgraded to Market Perform from Outperform at Northland... Atlas Resource Partners (ARP) downgraded to Underperform from Neutral at BofA/Merrill... Bank of the Ozarks (OZRK) downgraded to Hold from Buy at Drexel Hamilton... China Cord Blood (CO) downgraded to Neutral from Buy at Roth Capital... Citizens Financial (CFG) downgraded to Neutral from Buy at Guggenheim... Community Health (CYH) downgraded to Market Perform from Outperform at Raymond James... Eagle Bancorp (EGBN) downgraded to Hold from Buy at Sandler O'Neill... Fifth Street Senior (FSFR) downgraded to Neutral from Buy at UBS... FireEye (FEYE) downgraded to Equal Weight from Overweight at Barclays... Insight Enterprises (NSIT) downgraded to Underperform at Raymond James... Micron (MU) downgraded to Neutral from Buy at Mizuho... SYNNEX (SNX) downgraded to Hold from Buy at Needham... Swatch Group (SWGAY) downgraded to Equal Weight from Overweight at Barclays... Target (TGT) downgraded to Market Perform from Outperform at BMO Capital... Zoetis (ZTS) downgraded to Market Perform from Outperform at BMO Capital.
07:36 EDTCOChina Cord Blood downgraded to Neutral from Buy at Roth Capital
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06:07 EDTQIHUStocks with implied volatility below IV index mean; AMBA QIHU
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June 24, 2015
08:22 EDTBOBEBob Evans repeats FY16 EPS view $1.75-$1.95, consensus $1.91
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June 23, 2015
10:30 EDTQIHUOptions with decreasing implied volatility
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June 22, 2015
10:21 EDTQIHUOptions with decreasing implied volatility
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06:02 EDTQIHUStocks with implied volatility below IV index mean; QIHU LULU
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