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Stock Market & Financial Investment News

News Breaks
April 17, 2013
16:32 EDTALKS, TXT, EOPN, BAC, ACUR, CRUS, ENDP, AAPLOn The Fly: Closing Wrap
Stocks on Wall Street were sharply lower as the S&P and Nasdaq gave back all of yesterday's gains. The Dow returned almost all of yesterday's advance, logging its third consecutive triple-digit move. ECONOMIC EVENTS: The Federal Reserve's Beige Book, released this afternoon, said that economic activity expanded at a moderate pace, which was in-line with expectations. In Europe, Germany's top central banker said it may take Europe a decade to recover from its debt crisis and ratings agency Egan Jones reportedly cut its rating on Germany to A from A+. COMPANY NEWS: Apple's (AAPL) shares fell below $400 during the session and closed down $23.44, or 5.5%, at $402.80. One of the company's suppliers, Cirrus Logic (CRUS), estimated that revenue for its current quarter would be significantly below expectations, reinforcing expectations from some analysts that second quarter iPhone shipments will be much lower than in the first quarter. Cirrus shares lost $3.36, or 15.69%, to $18.05 following its warning and a number of other suppliers with exposure to Apple's supply chain fell also... Bank of America (BAC) reported headline earnings that missed consensus, though its revenue topped expectations. The bank also announced it has agreed to a $500M settlement in principle that would dismiss more suits brought against its Countrywide unit related to residential mortgage-backed securities. BofA was the Dow's worst performer following its quarterly report, falling 58c, or 4.72%, to $11.70. MAJOR MOVERS: Among notable gainers were shares of Acura Pharma (ACUR), up 73c, or 33.95%, to $2.88, and Endo Health (ENDP), up $1.10, or 3.16%, to $35.96 after the FDA announced it will not approve generic versions of non-tamper-resistant OxyContin. Also higher was Alkermes (ALKS), up $4.12, or 16.09%, to $29.72 after reporting preliminary results from a study of a drug candidate for major depressive disorder. Among the noteworthy losers was E2open (EOPN), down $4.49, or 24.18%, to $14.08 after its earnings and guidance fell well short of expectations. Also lower were shares of Textron (TXT), down $3.94, or 13.42%, to $25.41 after the company reported first quarter results that missed expectations and it cut its full-year view... INDICES: The Dow was down 138.19, or 0.94%, to 14,618.59; the Nasdaq was down 59.96, or 1.84%, to 3,204.67; and the S&P 500 was down 22.56, or 1.43%, to 1,552.01.
News For AAPL;CRUS;BAC;ENDP;ACUR;ALKS;EOPN;TXT From The Last 14 Days
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March 17, 2015
06:50 EDTAAPLBanks unhappy with high Apple Pay fraud rates, NY Times says
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06:37 EDTAAPLAfter losing marketshare, Google now asks Firefox users to switch, BI says
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05:57 EDTAAPLChina vendors to ship 50M Androids with fingerprint sensors, DigiTimes reports
China vendors is expected to ship 50M Android (GOOG) smartphones with fingerprint sensors in 2015, reports DigiTimes. According to sources at Taiwan-based IC backend service companies, Android smartphone vendors have adopted sliding-type fingerprint sensors, which are more competitive in pricing compared to press-type sensors used by Apple (AAPL). Reference Link
05:46 EDTAAPLApple set to launch online TV service this year, Financial Times reports
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March 16, 2015
16:28 EDTENDPOn The Fly: Closing Wrap
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16:00 EDTAAPLOptions Update; March 16, 2015
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15:24 EDTAAPLCablevision to provide HBO NOW via Optimum Online
Cablevision (CVC) and Time Warner's (TWX) Home Box Office announced that they have reached an agreement to offer standalone streaming service HBO NOW to Optimum Online customers via the internet. Optimum is the first cable provider to partner with HBO to offer the new service, which is expected to launch in April in time for the fifth season of Game of Thrones, the companies said. Cablevision plans to provide pricing and other particulars for HBO NOW in the coming weeks. Terms of the agreement were not disclosed. Apple (AAPL) and Time Warner announced on March 9 that HBO NOW will premier on Apple devices in April.
14:13 EDTAAPLApple to offer Android users rebates to switch to iPhones, 9to5Mac says
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12:43 EDTENDPOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after stimulus talk out of China and a rally in European stock markets lifted the U.S. market at the open. There was little reaction to the day’s domestic economic reports, which included the Empire manufacturing index, industrial production data, and a homebuilder confidence index. The week's big economic news, however, is yet to come, as investors look forward to the conclusion of the Federal Reserve's latest rate setting meeting on Wednesday. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index dipped to 6.9 in March, versus the consensus forecast for a reading of 8.0. Industrial production edged up 0.1% in February, versus expectations for an increase of 0.2%, and capacity utilization fell to 78.9%, versus the 79.5% consensus forecast. The NAHB homebuilder sentiment index dropped to 53 in March from 55 in February, missing expectation for the index to rise to 56. Oil prices continued to tumble, with U.S. crude dropping to a six-year low below $44 per barrel earlier in the session. In Asia, Chinese Premier Li Keqiang said Sunday that his government has room and the tools to take action should growth falter, without detailing specific remedies the government might pursue. COMPANY NEWS: Valeant (VRX), which not long ago lost out to Actavis (ACT) in the race to buy Allergan (AGN), increased its chances of making sure its latest buyout deal gets done by increasing its takeover offer to Salix Pharmaceuticals (SLXP) by about $1B. Rival bidder Endo Health (ENDP) confirmed that it is withdrawing its cash and stock proposal to acquire Salix after Valeant raised its all-cash bid for Salix to $173 per share from $158 per share. Shares of Valeant and Salix both rose about 2%, while Endo shares gained 2.5% following the announcements. MAJOR MOVERS: Among the notable gainers was Life Time Fitness (LTM), which rose 5% after entering into a definitive agreement to be acquired by private equity firms Leonard Green & Partners and TPG in a transaction valued at more than $4B, or $72.10 per share, in cash. Also higher was Edwards Lifesciences (EW), which rose 8% after the company reported data at this weekend's American College of Cardiology conference. Among the noteworthy losers was iDreamSky (DSKY), which dropped more than 25% after the company lowered its guidance because the launch of a popular casual game was delayed on one of the company distribution platforms and the monetization of another popular casual game was less than expected. Also lower were shares of Enzo Biochem (ENZ), which fell 17% after an appeals court reversed-in-part and vacated-in-part the judgment in Enzo’s favor that Life Technologies' (LIFE) Applera Corp. infringed certain Enzo patents. INDEXES: Near midday, the Dow was up 174.81, or 0.98%, to 17,924.12, the Nasdaq was up 39.80, or 0.82%, to 4,911.55, and the S&P 500 was up 20.07, or 0.98%, to 2,073.47.
10:58 EDTENDPValeant price hike likely ends Salix saga, says UBS
UBS believes the race for Salix (SLXP) is likely over now that Valeant (VRX) has increased its offer price, as expected. The firm said it will still like both Valeant (VRX) and Endo (ENDP) if this is how things end, as it believes the deal is still a very good one for Valeant despite the higher price and it expects Endo to find another deal that should be accretive. UBS has Buy ratings on both Valeant and Endo Health.
10:44 EDTAAPLNetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
10:22 EDTBACBank of America February default rate 2.98% vs. 2.93% last month
Reports February delinquency rate 1.86% vs. 1.83% last month.
10:18 EDTENDPValeant should win Salix with increased offer, says Cantor
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09:37 EDTAAPLActive equity options trading on open
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09:24 EDTENDPEndo withdraws proposal for Salix
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08:17 EDTENDPValeant rises 1% after sweetening Salix takeover offer
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08:06 EDTENDPValeant ses Salix deal closing on April 1
08:05 EDTENDPValeant raises offer price for Salix to $173 per share from $158
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07:50 EDTENDPValeant to raise offer for Salix to $173 per share, DJ reports
Dow Jones cites sources.
07:31 EDTENDPEndo announces launch of Natesto
Endo Pharmaceuticals, a subsidiary of Endo, announced the commercial availability of NATESTO, the first and only nasal gel for testosterone replacement therapy in adult males diagnosed with hypogonadism. NATESTO was approved by the FDA in May 2014 for replacement therapy in adult men with conditions associated with deficiency or absence of endogenous testosterone, including primary hypogonadism or hypogonadotropic hypogonadism. NATESTO™ reduces the risk of transference via intranasal application.
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