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Stock Market & Financial Investment News

News Breaks
February 7, 2014
12:32 EDTG, CI, AAPL, ATHN, EXPE, BEBE, LNKDOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite a second straight monthly jobs report that fell significantly short of expectations. Stock futures rapidly fell after the jobs data was reported, but recovered and closed the pre-market session higher, leading to an up open for the broader market. The averages gained upside momentum near mid-morning and stand close to session highs near midday. ECONOMIC EVENTS: In the U.S., 113,000 non-farm jobs were added last month, versus the expected increase of 180,000 jobs. The unemployment rate fell to 6.6%, hitting its lowest level since October 2008. COMPANY NEWS: Shares of Apple (AAPL) climbed 2% after CEO Tim Cook revealed to the Wall Street Journal that the company has bought back $14 billion of its own shares since it reported its earnings on January 27. Cook said he wants to be "aggressive" and "opportunistic" with the company's buyback program, noting that Apple had bought back a record total of more than $40 billion of its own shares over the past year... Shares of professional networking company LinkedIn (LNKD) fell 7% after the company reported better than expected fourth quarter results, but issued a disappointing revenue forecast for the first quarter and fiscal 2014. MAJOR MOVERS: Among the notable gainers following their earnings reports were healthcare services company athenahealth (ATHN), which rose 25%, and women's apparel retailer bebe stores (BEBE), which advanced 18%. Also rising were shares of Expedia (EXPE) and its fellow online travel agencies after Expedia reported stronger than expected fourth quarter results. Among the noteworthy losers was IT services provider Genpact (G), which fell 19% after the company said it expects the revenue headwinds it faced in 2013 to continue and its stock was downgraded at Wells Fargo and JPMorgan. Also lower were shares of health insurer Cigna (CI), which tumbled 8.5% after issuing a disappointing profit forecast for fiscal 2014 and being downgraded by research firm Susquehanna. INDEXES: Near midday, the Dow was up 92.89, or 0.59%, to 15,721.42, the Nasdaq was up 50.10, or 1.23%, to 4,107.23, and the S&P 500 was up 14.57, or 0.82%, to 1,788.00.
News For AAPL;LNKD;EXPE;CI;BEBE;ATHN;G From The Last 14 Days
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June 22, 2015
10:15 EDTCIAnthem repeats FY15 revenue view of about $78.5B, consensus $78.16B
Repeats FY15 revenue view $78.5B, sees revenue for a combined Anthem (ANTM)-Cigna (CI) at >$115B. Anthem sees greater than 10% accretive to adjusted EPS in first year post-close, with accretion more than doubling in year two. Assuming the transaction closes on December 31, 2016, sees $17.00+ adjusted EPS in 2018. Anthem says expects to maintain dividend payout ratio policy, committed to retaining investment grade debt ratings. Says committed to de-levering over 2-year period post-close. Says deal is "compelling" for Cigna shareholders. Says Anthem has made "good faith efforts" to engage in valuation and governance discussions with Cigna, says fully prepared to proceed immediately to finalize due diligence and merger agreement negotiations. Comments from slides that will be presented on Anthem's update reaffirming its commitment to its $184 per share proposal for Cigna.
10:00 EDTEXPEOn The Fly: Analyst Upgrade Summary
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09:40 EDTAAPLActive equity options trading on open
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09:14 EDTCIOn The Fly: Pre-market Movers
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09:02 EDTCICigna hits fresh highs after rejecting Anthem bid
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09:02 EDTCIAnthem reiterates commitment to $184 per share proposal for Cigna
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09:01 EDTCIAnthem reiterates commitment to $184 per share proposal for Cigna
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08:16 EDTCIAnthem, Cigna deal would be negative for Catamaran, says Leerink
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08:09 EDTAAPLMasimo receives CE Mark for MightySat Rx pulse oximeter
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07:54 EDTCIAnthem, Cigna deal likely to be consummated, says Leerink
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07:46 EDTAAPLApple CEO: Chinese consumer tastes weighed in product designs, Bloomberg says
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07:19 EDTEXPEExpedia upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Expedia (EXPE) to Buy citing an improving core business and cost synergies from acquisitions. The firm sees a path for Expedia to reach $200 per share over the next five year. It raised its price target for the stock to $130 from $95. Deutsche coupled the upgrade with a downgrade of Priceline (PCLN).
07:17 EDTEXPEPriceline downgraded to Hold from Buy at Deutsche Bank
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07:16 EDTCIAnthem should be bought after Cigna offer, says Stifel
After Anthem, (ANTM) offered to buy Cigna (CI) and the latter company rejected the bid, Stifel estimates that the deal would have been 10% accretive for Anthem in the first year and 20% accretive in the second year. The firm thinks that accretion from the deal will probably be higher than expected. It also recommends buying Aetna (AET) as it believes that the Anthem offer suggests that Aetna will benefit more than expected from its own deal. The firm is cautious on Humana (HUM), saying that it may lose two potential buyers in Anthem and Cigna, while Humana may retreat if Aetna does not acquire the company quickly.
06:51 EDTCIHealth insurer tie-ups could cut competition, WSJ reports
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06:42 EDTEXPEExpedia upgraded to Buy from Hold at Deutsche Bank
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06:37 EDTCIHealth insurers may change policies based on King v. Burwell ruling, NYT says
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06:03 EDTCICigna implied volatility of 37 at upper end of index
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05:59 EDTAAPLApple developing in-house TDDI solutions, DigiTimes reports
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05:55 EDTAAPLApple changes tune over music streaming royalties, Financial Times says
Apple has agreed to pay for all the music carried on its new streaming music service during free trials, reports the Financial Times. The company signaled the climbdown after singer Taylor Sift released an open letter Sunday that denounced Apple Music as "shocking" and "disappointing.", adding that her views were shared by "every artist, writer and producer" in her social circles. The company will now pay for the music it streams during free trials, though it would pay less for each stream than it will when a user has taken a full subscription. Reference Link
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