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Stock Market & Financial Investment News

News Breaks
May 30, 2014
16:59 EDTBIG, VRX, TSN, SPLK, SNN, AGN, HSH, BNNY, SYK, PPC, AAPL, LGFMarket finishes week higher after M&A deals, upbeat data
Stocks ended the week higher after several economic data points beat expectations and there were a number of new developments on the M&A front. MACRO NEWS: In the U.S., durable goods orders for April, a nationwide service sector index, and weekly jobless claims were all better than expected. Personal income for April and an index of consumer confidence for this month were slightly below expectations, while GDP was revised downward to reflect 1% annualized contraction in Q1... The European Central Bank could take steps to make credit more available to businesses at its next meeting on June 5, ECB President Mario Draghi said. COMPANY NEWS: Apple (AAPL) agreed to buy privately owned Beats Electronics and Beats Music for $3B. The Beats companies sell headphones and operate a streaming music service... Early in the week, meat products maker Pilgrim's Pride (PPC) offered to buy another company in the sector, Hillshire Brands (HSH), for $45 per share in cash or $6.4B. After Pilgrim's Pride announced its bid, another meat producer, Tyson Foods (TSN), made a $50 per share bid for Hillshire. Shares of Pinnacle Foods (PF), which Hillshire had previously agreed to purchase, ended the week lower, as the new bids cast doubt on that deal... In other M&A news, Valeant (VRX) raised the cash portion of its takeover bid for Allergan (AGN), first by $10 and then by about another $14 per share in a second offer that came today. Valeant also added a contingent value right worth up to $25 per share which is based on sales of Allergan's DARPin product, an experimental drug that Allergan is developing as a treatment for the leading cause of blindness in elderly people... Financial Times reported that orthopedic device maker Stryker (SYK) was looking to make a takeover bid for another company in the sector, Smith & Nephew (SNN). Stryker said it was in the early stages of evaluating a bid for its peer, but does not intend to make an offer at this time... Few notable companies reported earnings this week, but closeout retailer Big Lots (BIG) rose after reporting stronger than expected results and raising its guidance. Among the companies that fell after reporting results were data analysis software maker Splunk (SPLK), organic foods maker Annie's (BNNY), and "Hunger Games" producer Lionsgate (LGF). INDEXES: The Dow was up 1.37% to 16,717.17, the S&P 500 was up 2.43% to 1,923.57, and the Nasdaq was up 3.72% to 4,242.62.
News For AAPL;HSH;TSN;PPC;AGN;VRX;SYK;SNN;BIG;BNNY;SPLK;LGF From The Last 14 Days
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January 13, 2015
06:56 EDTTSNTyson may see 'some impact' to business by China poultry ban, WSJ says
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06:41 EDTSNNSmith & Nephew downgraded to Neutral from Buy at UBS
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06:21 EDTAAPLApple upgraded at Credit Suisse
As previously reported, Credit Suisse upgraded Apple to Outperform from Neutral. The firm raised iPhone volume estimates again to 215M units for both FY15/16 and sees $10 EPS power in CY16 based on a solid and sustainable iPhone trends combined with a muted response from Samsung. Additionally, the firm believes excessive net cash levels indicate a new $200B return program should occur. Price target raised to $130 from $110.
06:20 EDTAAPLApple supplier shows 'unbreakable' smartphone with sapphire display, WSJ says
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06:18 EDTAAPLSilicon Valley shuttle drivers looking to unionize, USA Today reports
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06:09 EDTAAPLApple implied volatility of 38 at upper end of index mean range
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06:06 EDTAAPLApple upgraded to Outperform from Neutral at Credit Suisse
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January 12, 2015
16:50 EDTAAPLGartner says worldwide PC shipments in Q4 grew 1%
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16:00 EDTAAPLOptions Update; January 12, 2015
iPath S&P 500 VIX Short-Term Futures up 1.57 to 33.54. Option volume leaders: AAPL TSLA TWTR AMZN AA SIRI RIG FRO C according to Track Data.
12:53 EDTAAPLApple falls, levels to watch
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12:04 EDTTSN, PPCUSDA raises 2015 meat production forecast
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11:47 EDTBIGBig Lots should react favorably to guidance, says Deutsche Bank
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09:37 EDTAGNSupreme Court rejects Allergan appeal on generic Latisse, Bloomberg reports
09:34 EDTAAPLActive equity options trading
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09:07 EDTBIGBig Lots backs Q4 EPS $1.70-$1.80, compared to EPS of $1.45 from last year
Backs Q4 to date comparable store sales up 2%. CEO David Campisi said, "As expected, Food, Furniture, Soft Home, and Consumables have been the strongest categories with comp increases ranging from low double digits to mid-single digits. We believe each of these are winnable businesses for Big Lots and Jennifer has recognized our progress in improving our offering. Additionally, I am also encouraged by Christmas Trim where comps were up low single digits with inventory levels down significantly to last year. Overall, the merchant, planning, and operations teams have executed our plan well in a highly competitive retail environment."
08:21 EDTAAPLApple poised to gain market share, says JMP Securities
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08:09 EDTAGNActavis and Allergan announce early termination of HSR waiting period
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08:07 EDTAGNActavis, Allergan announce early termination of Hart Scott Rodino waiting period
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07:26 EDTBIGWedbush to hold a meetings at ICR XChange Conference
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06:20 EDTSNNUBS loses BAE Systems, Smith & Nephew as broking clients, Financial Times says
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