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Stock Market & Financial Investment News

News Breaks
May 30, 2014
16:59 EDTAAPL, SPLK, BNNY, BIG, SNN, SYK, VRX, AGN, PPC, TSN, HSH, 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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July 9, 2014
10:20 EDTAAPLReport says Intel delaying Broadwell chip shipment, MacRumors says
Intel (INTC) has decided to further postpone the shipping of its line of 14-nanometer Broadwell chips, which are anticipated to be included in future versions of the Apple's (AAPL) MacBook Air, Retina MacBook Pro, and iMac, according to MacRumors, citing a report on Chinese site VR Zone. Reference Link
09:35 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AA FB AMZN TSLA TWTR MU NFLX GG CELG
07:45 EDTAAPLCostco selling Apple products again, says Jefferies
Jefferies says that starting in late June, Costco (COST) began selling Apple (AAPL) products in stores and online again, after not carrying the brand since 2010. The firm thinks the move will help Costco's weaker performing Consumer Electronics category. Jefferies expects Costco to report a June comp store sales increase of 5%-6% and keeps a Hold rating on the stock.
07:10 EDTAAPLApple price target raised to $105 from $90 at Mizuho
Mizuho expects Apple to report an inline Q3 but sees upside to Q4 and expects revenue guidance to be $1B-$2B above consensus and EPS upside of 5c-10c. The firm expects 2H 2014 stock gains to be driven by the strong product cycle. Shares are Buy rated with a $105 price target, up from $90.
07:10 EDTAAPLDisney ceases on-demand movie sales in Japan via iTunes, Reuters says
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06:58 EDTAAPLApple hires two Nike FuelBand engineers, Apple Insider erports
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06:46 EDTAAPLApple loses patent suit in China, Reuters says
Apple (AAPL) had taken Shanghai-based Zhizhen Internet Technology and China's State Intellectual Property Office to court in hopes that the court would rule that Zhizhen's patent rights to a speech recognition technology were invalid, but the Beijing First Intermediate Court decided in favor of Zhizhen, according to Reuters, citing a report from the People's Daily state newspaper in China. After the ruling, the report noted that Apple is aiming to take the case to the Beijing Higher People's Court. Reference Link
06:34 EDTAAPLFake document hits federal court in hiring case against tech giants, WSJ says
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06:31 EDTAAPLFTC may probe Google over child app purchases, Politico says
After the Federal Trade Commission cracked down on apps previously available on Apple (AAPL) devices that let children spend money without their parents' permission, Apple told the FTC that similar apps are available on Google's (GOOG) app store, according to Politico. As a result, the FTC may investigate Google over this issue, Politico stated. Reference Link
06:19 EDTAGN, VRXAllergan plans broad restructuring plan, Bloomberg says
Allergan (AGN), the pharmaceutical maker that is being chased by Valeant (VRX) and Bill Ackmanís hedge fund, will shelve unpromising pipeline medicines and revamp management incentives, according to Bloomberg, citing two people with knowledge of the matter. The sources said that the restructuring plan, which is set to be explained during Allergan's upcoming earnings announcement, will also detail companywide cost reductions including some legacy expenses. Reference Link
05:54 EDTAAPLGarmin downgraded to Underperform from Sector Perform at Pacific Crest
Pacific Crest downgraded its rating on Garmin (GRMN) to Underperform saying any action camera optimism is likely to end in disappoint while Apple's (AAPL) potential watch announcement could create "substantial" headline and competitive risk. Pacific Crest believes Garmin shares may be overvalued and sees fair value for the stock in the mid-$40 range. The stock closed yesterday at $60.63.
July 8, 2014
16:00 EDTAAPLOptions Update; July 8, 2014
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13:12 EDTAAPLGT Advanced's sapphire screens likely in both new iPhones, says Stifel
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11:42 EDTAAPLUber poaches Apple's Chris Blumenberg, The Information reports
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10:50 EDTSPLKSplunk volatility increases on wide price movement
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10:24 EDTAAPLApple could be impacted by Chinese subsidy cuts, says UBS
09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL TSLA TWTR GILD EXXI FB MGM
09:36 EDTAAPLApple to invest $55M in North Carolina solar farm, Hicorky Record reports
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09:34 EDTSNNSmith & Nephew cited by FDA in warning letter following inspection
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07:34 EDTAAPLLeak points to sapphire screen for 4.7" iPhone 6
A newly posted YouTube video supposedly shows the screen that will be used in Apple's (AAPL) upcoming 4.7" iPhone 6 and claims that the part confirms that the smaller new model will have a sapphire display, not Gorilla Glass from Corning (GLW). The video adds that the existence of the part dispels rumors that only the larger, 5.5" iPhone 6 would feature a sapphire display. Note that Apple has a sapphire contract with GT Advanced Technologies (GTAT). Reference Link
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