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Stock Market & Financial Investment News

News Breaks
June 2, 2014
16:20 EDTPBYI, BRCM, BEBE, MSFT, PL, AAPLOn The Fly: Closing Wrap
Stocks on Wall Street began the session in quiet fashion and remained that way through most of the day. The Institute for Supply Management needed to revise it manufacturing data twice during the day, providing some confusion in what was otherwise a listless day. The market moved in a narrow range, as the mellow activity that typified last week continued. Investors may be sidelined as they await the big economic events coming later in the week, which include a meeting of the European Central Bank and the U.S. payroll report for May. ECONOMIC EVENTS: In the U.S., the Institute for Supply Management's manufacturing index appeared to fall to 53.2 in May, missing expectations for a slight rise, but the group than corrected its index to 56, noting that wrong seasonal adjustments were used in the first, incorrect reading. The report was then adjusted for a second time to a reading of 55.4. Markit's manufacturing PMI rose to 56.4 for May, which is a little better than the 56.2 flash print and up from April's 55.4. Construction spending rose 0.2% in April, which was less than the 0.6% growth expected. In China, the government's official Purchasing Managers' Index rose to 50.8 in May from April's 50.4, beating market expectations and indicating that factory activity there expanded at its fastest pace in five months. COMPANY NEWS: Shares of Apple (AAPL) slipped $4.35, or 0.69%, to $628.65 after the company held its keynote at the first day of its Worldwide Developers Conference, or WWDC. At the event, Apple announced OS X Yosemite, a new version of its Mac operating system, that makes working across devices more fluid, will let Mac users make or receive iPhone calls using their computer as a speakerphone, and now uses Microsoft's (MSFT) Bing for search. Apple also unveiled iOS 8, its updated mobile operating system, that added new Messages features, new photo functions and a new Health app. Additionally, Apple confirmed its launch of Home Kit, a "smart home" platform that had been hinted at in recent media reports. MAJOR MOVERS: Among the notable gainers was Protective Life (PL), which surged $6.20, or 11.85%, to $58.50 after the Nikkei said that Japan's Dai-ichi Life Insurance is in late stage talks to acquire its U.S. life insurance peer. Also higher was Broadcom (BRCM) rose $2.97, or 9.32%, to $34.84 after the company announced it has engaged JPMorgan (JPM) to help it explore strategic alternatives for its cellular baseband business, including a potential sale or wind-down. Among the noteworthy losers was Puma Biotechnology (PBYI), which fell $19.37, or 25.34%, to $57.06 after it presented results from an ongoing Phase II clinical trial of its investigational treatment of HER2 positive metastatic breast cancer that has metastasized to the brain at the American Society of Clinical Oncology annual meeting. Also lower were shares of Bebe Stores (BEBE), which plunged 68c, or 16.81%, to $3.39 after the company's CEO Steve Birkhold disclosed in a filing after the close Friday that he'd sold over 140K shares of the company's stock for $4.07 per share on May 29. INDEXES: The Dow rose 26.46, or 0.16%, to 16,743.63, the Nasdaq fell 5.42, or 0.13%, to 4,237.20, and the S&P 500 added 1.40, or 0.07%, to 1,924.97.
News For AAPL;MSFT;BRCM;PL;BEBE;PBYI From The Last 14 Days
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May 14, 2015
17:17 EDTAAPLApple submits patent application to expand 'home button' features
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16:19 EDTPBYIOn The Fly: Top stock stories for Thursday
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16:00 EDTMSFT, AAPLOptions Update; May 14, 2015
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14:04 EDTAAPLApple delays launch of HomeKit to early fall, Fortune reports
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12:49 EDTPBYIOn The Fly: Top stock stories at midday
The market opened higher amid lower than expected weekly jobless claims, data showing that producer prices fell rather than rose in April and a continued slide in the dollar against the euro. The Dow notched triple digit gains right out of the gate and the averages have moved in a narrow range in morning trading, albeit at near-record levels. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 1K to 264K in the week ended May 9, versus expectations for 273K first-time claims. The weekly data brought the four week moving average to 271.75K, which marks its lowest level in 15 years. The Producer Price Index fell 0.4% in April, with the core PPI reading sliding 0.2%, which missed expectations for both the headline and core PPI figures to have grown 0.1%. After dropping 1.3% yesterday against the euro, the U.S. dollar slid another 0.4% earlier to about $1.14 per euro, bringing its decline to about 7% versus the euro in the past month. COMPANY NEWS: Shares of Avon Products (AVP) were volatile after "PTG Capital Partners" announced via a filing with the SEC that it has submitted an offer to the board of Avon proposing to acquire all of the company's outstanding stock, and outstanding options to acquire such shares, in a recommended cash tender offer at a price per share of $18.75. Shares of Avon spiked initially after the filing, were halted several times due to volatile trading, and came well off their earlier highs as investors questioned the validity of the firm making the purported offer. A source told Dow Jones that the company was treating the purported bid as a hoax and Avon told CNBC that it had no proof PTG exists and that it has not received any offer. Still, Avon remained up about 4% to trade near $6.92 per share in early afternoon trading. MAJOR MOVERS: Among the notable gainers was Russia's QIWI (QIWI), which jumped 12% after the company announced that it has entered into an agreement with Otkritie to acquire the Contact money transfer system and the Rapida payment processing system, which are "highly value accretive" acquisitions according to analysts at JPMorgan. Also higher was China's Ctrip.com (CTRP), which gained 10% and was upgraded at Stifel and Oppenheimer following the company's Q1 results. Among the noteworthy losers was Puma Biotechnology (PBYI), which dropped 18% after data on the company's neratinib drug was disclosed via an abstract for the company's upcoming presentation at the American Society of Clinical Oncology, or ASCO, meeting. Also lower following its earnings report was retailer Kohl's (KSS), which slid over 12%. INDEXES: Near midday, the Dow was up 170.23, or 0.94%, to 18,230.72, the Nasdaq was up 55.96, or 1.12%, to 5,037.65, and the S&P 500 was up 17.10, or 0.81%, to 2,115.58.
11:19 EDTMSFTMicrosoft set to test 52-week high, levels to watch
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10:09 EDTPBYIIncreasing equity options volume on open
Increasing equity options volume on open: ONTY CBRL PBYI GWW AXLL IEV KSS EXPR UEC JACK
09:34 EDTMSFT, AAPLActive equity options trading on open
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09:22 EDTPBYIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Perry Ellis (PERY), up 11.5%... Ctrip.com (CTRP), up 13.4%. ALSO HIGHER: AcelRx (ACRX), up 10.3% after being awarded contract worth up to $17M from Defense Dept to advance ARX-04... Oncothyreon (ONTY), up 16.9% after ASCO presentation data released... CYREN (CYRN), up 14.6% after announcing agreement with Dell.... Discovery Laboratories (DSCO), up 5.2% after Aerosurf shows positive Phase 2a data... Kate Spade (KATE), up 3.9% after being initiated with an Outperform at Wedbush. DOWN AFTER EARNINGS: Digital Ally (DGLY), down 16.4%... Kohl's (KSS), down 10.2%... VOXX (VOXX), down 8.1%... Cosi (COSI), down 7.3%. ALSO LOWER: Biotechnology (PBYI), down 15.1%% after Neratinib data published in ASCO abstract... Gevo (GEVO), down 10.7% after 4.3M share Spot Secondary priced at $4.00.
09:20 EDTPBYIPuma Biotechnology data look strong, says Leerink
Leerink says that after close examination, the data in Puma Biotechnology's ASCO abstract for neratinib's adjuvant study ExteNET look strong. The firm notes that unlike the HERA trial for Herceptin which enrolled only centrally confirmed HER2-positive breast cancer patients, approximately 80% of Puma's ExteNET patients were confirmed to be HER2+ upon central testing. When focusing on these patients, the magnitude of benefit for neratinib improved, Leerink says. It estimates disease free survival including ductal carcinoma in situ difference at two years to be 4.5%. The firm keeps an Outperform rating on Puma amid today's selloff.
09:06 EDTBRCMSynopsys and Broadcom extend license agreement
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08:09 EDTPBYIPuma Biotechnology volatility elevated into release of four abstracts
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07:52 EDTPBYIPuma Biotechnology data positive, says RBC Capital
RBC Capital believes that the data on Puma's neratinib drug indicates that it has strong efficacy, and additional benefits compared with prior trials. The firm expects investors and medical professionals to have a greater appreciation of the drug's benefits once all of the data on the drug is presented at ASCO. RBC keeps a $285 price target and Outperform rating on the shares.
07:48 EDTBRCMBroadcom management to meet with Deutsche Bank
Meeting to be held in Los Angeles on May 14 hosted by Deutsche Bank.
07:34 EDTAAPLApple search volume continues to surge in China, says UBS
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07:11 EDTPBYIOptions expected to be active
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06:29 EDTAAPLApple Music to have deep social integration for artists, 9to5Mac reports
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06:17 EDTAAPLApple plans expansion of key Irish plant, Irish Independent reports
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06:16 EDTAAPLApple and A123 prepare to settle employee-poaching lawsuit, WSJ reports
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05:49 EDTBRCMStocks with implied volatility movement; ESI BRCM
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