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Stock Market & Financial Investment News

News Breaks
May 30, 2014
16:59 EDTSPLK, SNN, AGN, HSH, BNNY, SYK, PPC, AAPL, LGF, BIG, VRX, TSNMarket 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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July 20, 2015
07:33 EDTVRXValeant price target raised to $285 from $275 at Canaccord
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07:05 EDTAGNAllergan Q2 to alleviate competitive concerns, says JPMorgan
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06:48 EDTAAPLApple in talks to create free streaming TV channel, NY Post reports
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06:39 EDTAAPLNew iPods won't run Apple Music to prevent piracy, 9to5Mac reports
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06:31 EDTAAPLAnalysts down on Apple Watch sales, AFP reports
Certain analysts have said that Apple's new smartwatch is not a mainstream hit due its disappointingly low sales figures, AFP reports. A study from Slice Intelligence suggests that Apple Watch orders have decreased 90% since the week the device made its debut, the report says. In response, BMO Capital Markets said it told investors that they were "disappointed" and reduced their estimate for Apple Watch sales in the upcoming year, the report adds. Richard Windsor at Edison Investment Research said that even if Slice is off the mark about the plunge in Apple Watch orders, it was evident that the wearable has sold way less than even conservative expectations, AFP says. Reference Link
06:22 EDTAAPLApple July weekly volatility elevated into Q3 and outlook
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05:57 EDTAAPLApple iPhone momentum to continue in June quarter, says Piper Jaffray
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July 19, 2015
14:09 EDTAAPLIntel chip delay could spell opportunity or disaster, Barron's says
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July 17, 2015
16:01 EDTAAPLOptions Update; July 17, 2015
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11:50 EDTAAPLOn The Fly: Weekly technical notes for Apple, S&P 500
Next week sees the most heavily weighted name in the S&P 500 (SPX), Apple (AAPL), report its earnings. At 3.94% of the index, what happens to price with Apple will most definitely impact the index. We have seen several big names in the S&P 500 with the all-too-familiar sideways range that the index itself has been stuck in. Names such as Google (GOOGL) and Apple have had or do have the same range-bound shape and the index is merely a weighting of those patterns. A breakout or a breakdown in Apple will therefore shape the index quite literally. Watch for The Fly's previews on Monday. Given the big jump in Google, why haven't we been able to break out in the index? One factor of course is the very large number of names that have yet to report. Next week is extremely heavy on reporting companies and may therefore prove to be the most productive trading week in some time and potentially the most volatile. Once again the week is heavily loaded toward Wednesday and Thursday. One potentially troublesome note needs to be mentioned and that is the potential negative divergence that is shaping up in the S&P 500. While big name such as Netflix (NFLX) are at fresh new life highs, others and whole sectors are floundering. The SPDR Gold (GLD) is hitting new lows and weak metals pricing is impacting Miners and Materials. Energy (XLE) is weak as is the interest-rate-sensitive Utilities (XLU) sector. Banking (XLF), Technology (XLK) and Consumer Staples (XLP) are dominating. It is odd to find Consumer Staples at a breakout point given that it is typically seen as a "safety" sector for troubled times. That is part of the odd mix investors face in this bull market. It may be a reflection of still-attractive yields in those names, but valuations in that group are looking quite stretched, far more than some of the biggest tech names.
11:06 EDTAAPLOppenheimer predicts Apple high-end dominance to drive 'beat and raise' report
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10:05 EDTSPLKOn The Fly: Analyst Initiation Summary
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10:05 EDTAGNOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Accretive Health (ACHI) downgraded to Market Perform from Outperform at Cowen... Allergan (AGN) downgraded to Outperform from Top Pick at RBC Capital... Best Buy (BBY) downgraded to Underperform from Buy at BofA/Merrill... Cablevision (CVC) downgraded to Hold from Buy at Jefferies... Credit Suisse (CS) downgraded to Hold from Buy at Deutsche Bank... Domino's Pizza (DPZ) downgraded to Sector Weight from Overweight at KeyBanc... First Quantum Minerals (FQVLF) downgraded to Neutral from Outperform at Credit Suisse... First Republic (FRC) downgraded to Market Perform from Outperform at FBR Capital... Fresenius SE (FSNUY) downgraded to Neutral from Buy at Goldman... Golden Minerals (AUMN) downgraded to Neutral from Buy at Roth Capital... JD Wetherspoon (JDWPY) downgraded to Reduce from Neutral at Nomura... NV5 Holdings (NVEE) downgraded to Neutral from Accumulate at Global Hunter... National Oilwell (NOV) downgraded to Sell from Neutral at UBS... Natural Gas Services (NGS) downgraded to Neutral from Buy at Global Hunter... Primoris (PRIM) downgraded to Neutral from Accumulate at Global Hunter... Receptos (RCPT) downgraded to Hold from Buy at Evercore ISI... SKF AB (SKFRY) downgraded to Hold from Buy at Deutsche Bank... STAG Industrial (STAG) downgraded to Sell from Neutral at UBS... SolarWinds (SWI) downgraded to Hold from Buy at Deutsche Bank... Syntel (SYNT) downgraded to Market Perform from Outperform at William Blair... TECO Energy (TE) downgraded to Neutral from Buy at UBS... Tangoe (TNGO) downgraded to Underweight from Equal Weight at Barclays... Tegna (TGNA) downgraded to Hold from Buy at Evercore ISI.
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL NFLX TSLA GOOG FB GOOGL SLB
08:02 EDTVRXValeant agrees to acquire Amoun Pharmaceutical
Valeant announced that it has entered into a definitive agreement under which Valeant will acquire Mercury Holdings, the holding company of Amoun Pharmaceutical, for consideration of approximately $800M, plus contingent payments. Amoun Pharmaceutical currently expects to reach EGP 1.75B by 2015, with annual growth of approximately 20%. Valeant intends for Amoun to serve as a platform for further expansion in the broader Middle East and North Africa pharmaceutical market and expects the transaction to close in the third quarter, subject to customary closing conditions.
07:44 EDTAAPLApple should deliver beat and raise Q3 results, says Oppenheimer
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07:38 EDTAAPLApple July weekly volatility elevated into Q3 and outlook
Apple July call option implied volatility is at 25, July weekly 34, August is at 28, October is at 25; compared to its 52-week range of 15 to 36, suggesting large near term price movement into the expected release of Q3 results on July 21.
06:58 EDTAAPLApple Store employee suit reaches class action status, Reuters reports
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06:39 EDTAGNAllergan downgraded to Outperform from Top Pick at RBC Capital
RBC Capital downgraded Allergan to Outperform and maintained its $361 price target. The firm sees few catalysts and is less confident near-term in P&L upside, but has left estimates unchanged. RBC Capital said there are several important products subject to competitive threats that could pressure sentiment but said valuation remains attractive against solid mid-teens multi-year earnings growth.
06:36 EDTSPLKSplunk initiated with an Outperform at RBC Capital
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