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Stock Market & Financial Investment News

News For AAPL;NFLX;IBM;GOOG;CSX;HAL From The Last 14 Days
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November 17, 2014
16:38 EDTCSXAmtrak files complaint against CSX, Norfolk Southern, RailwayAge says
According to RailwayAge, Amtrak has filed a complaint with the U.S. Surface Transportation Board against Norfolk Southern (NSC) and CSX (CSX). Amtrak filed the complaint over substandard on-time performance of the Washington D.C.-Chicago Capitol Limited, which operates over right-of-way owned by Norfolk Southern and CSX, added RailwayAge. Reference Link
16:24 EDTHALOn The Fly: Closing Wrap
Stocks on Wall Street were quiet and traded in a fairly narrow range for their sixth straight session, despite a "merger Monday" that saw over $100B in deals announced. The Dow and S&P, which began the week near record levels, passed back and forth across the flat line several times during the day, though the Nasdaq weakened early in the session and never really recovered. ECONOMIC EVENTS: In the U.S., industrial production fell 0.1% in October, missing expectations for it to have risen 0.2% from the prior month. October capacity utilization came in at 78.9%, which fell short of the expected 79.3% rate. The Empire State manufacturing index, which reflects manufacturing activity in the New York region, rose 4 points to 10.2 in November, which was generally in-line with the consensus forecast. In Asia, Japan's GDP unexpectedly shrank an annualized 1.6% last quarter, missing projections for a 2.2% gain and sinking its economy into a recession. COMPANY NEWS: Actavis (ACT) gained $4.17, or 1.71%, to $247.94 after confirming that it agreed to acquire Allergan (AGN) for a combination of $129.22 in cash and 0.3683 Actavis shares valued at approximately $66B, or $219 per Allergan share. Valeant Pharmaceuticals (VRX), which had been in a contentious fight to buy Allergan, commented that it "cannot justify to its own shareholders" paying a price of $219 or more per share for the Botox maker, whose stock rose $10.55, or 5.31%, to $209.20... Halliburton (HAL), conversely, fell $5.85, or 10.62%, to $49.23 after it agreed to acquire Baker Hughes (BHI) in a stock and cash transaction valued at $78.62 per Baker Hughes share, representing an enterprise value of $38B. When the deal talks were first reported by The Wall Street Journal last week, antitrust concerns were highlighted by analysts, but Halliburton said it had agreed to divest businesses that generate up to $7.5B in revenues, if required by regulators, and agreed to pay a fee of $3.5B if the transaction terminates due to a failure to obtain required approvals. Baker Hughes rose $5.34, or 8.92%, to $65.23 after the deal was announced. MAJOR MOVERS: Among the notable gainers was Celldex Therapeutics (CLDX), which advanced $4.09, or 28.88%, to $18.25 after the company reported it saw a statistically significant overall survival benefit, along with an increase in clinically meaningful tumor shrinkage, in a sub-group of its study of a drug to treat a specific type of brain tumor. Also higher was Amicus Therapeutics (FOLD), which rose $1.01, or 17.75%, to $6.70 after the company announced additional data on secondary endpoints from its second Phase 3 study of its treatment for Fabry disease. Among the noteworthy losers was William Lyon Homes (WLH), which fell $3.52, or 15.53%, to $19.14 after the company announced that it intends to offer, subject to market and other conditions, 1M tangible equity units, which will consist of a prepaid stock purchase contract and an amortizing note. Also lower were shares of DreamWorks (DWA), which dropped $3.71, or 14.26%, to $22.31 after multiple media outlets reported that talks about a takeover of the company by Hasbro (HAS) had ended. INDEXES: The Dow gained 13.01, or 0.07%, to 17,647.75, the Nasdaq lost 17.54, or 0.37%, to 4,671.00, and the S&P 500 added 1.50, or 0.07%, to 2,041.32.
16:00 EDTAAPLOptions Update; November 17, 2014
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13:07 EDTHALFollow-up: Halliburton downgraded at Cowen
As previously reported, Cowen downgraded Halliburton (HAL) to Market Perform from Outperform. The analyst said the combination of Halliburton and Baker Hughes (BHI) will be challenging in a number of ways including, antitrust, employee and customer retention, and margin improvement. Cowen does not expect any earnings benefits until 2H 2017 and reduced estimates due to lower crude oil prices.
13:00 EDTHALHalliburton downgraded to Market Perform from Outperform at Cowen
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12:27 EDTHALOn The Fly: Midday Wrap
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11:14 EDTAAPLApple price target raised to $120 from $115 at RBC Capital
RBC Capital earlier increased its price target on Apple as the firm estimates that the company's watch will generate $10B in revenue and 40c in EPs in the first 12 months after it's released. The firm increased its FY15 sales estimates for the company by $6.5B and raised its FY15 EPS estimate by 24c. It keeps an Outperform rating on the shares.
10:53 EDTHALHalliburton shares defended at Citigroup
09:36 EDTHALHalliburton shares under pressure on Baker Hughes purchase
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09:36 EDTAAPLActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
09:22 EDTHALOn The Fly: Pre-market Movers
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08:35 EDTHALHalliburton says tax synergies may come on top of other synergies outlined
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08:21 EDTHALHalliburton says has identified numerous potential buyers if divestitures needed
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07:52 EDTIBMDepartment of Energy awards $425M for supercomputing technologies
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07:47 EDTHALHalliburton volatility elevated into Baker Hughes acquiring for $34.6B
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07:42 EDTHALHalliburton removed from U.S. Focus List at Credit Suisse
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07:19 EDTHALBaker Hughes volatility elevated into Halliburton acquiring for $34.6B
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07:12 EDTHALBloomberg / Mayer Brown to co-host a conference
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07:12 EDTHALHalliburton and Baker Hughes host conference call
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07:08 EDTHALBaker Hughes up 18% following acquisition by Halliburton
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