New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 29, 2014
12:43 EDTPANW, TSN, P, TLYS, HSH, AAPL, JNPR, PPC, KORSOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite a significant downward revision to the government's estimate of economic growth in the first three months of the year. The market opened slightly higher and has seen little in the way of volatility, mirroring the pattern seen throughout the week. Volume remains light and the market remains locked in a very narrow range, albeit near all-time highs. ECONOMIC EVENTS: In the U.S., the Commerce Department estimated that gross domestic product decreased at a 1% annual rate in the first quarter of the year, which is down significantly from the government's first estimate of positive 0.1% growth for the period and below the consensus expectation for a revision to a 0.5% decline. Initial jobless claims dipped 27K to 300K in the week ended May 24 from a revised 327K previously. An index of pending home sales edged up 0.4% to 97.8 in April, which was less than the expected 1% rise. COMPANY NEWS: Last night, Apple (AAPL) confirmed that it has agreed to buy Beats Music, which operates a streaming music service, and Beats Electronics, which makes and sells electronic music products such as headphones and speakers, for $3B. Financial Times first reported on May 8, citing people familiar with the negotiations, that Apple was in talks to acquire Beats. In a note to investors after the confirmation, JPMorgan analyst Rod Hall wrote that the deal "is really about what Apple can do with Beats Music" to revitalize its own iTunes music business. Meanwhile, PiperJaffray analyst Gene Munster wrote that Apple acquired Beats for several reasons, including the opportunity to bring Beats co-founders Jimmy Iovine and Dr. Dre to Apple to work on content. Near noon, Apple rose nearly 1% to trade near $630 per share, while Pandora, which also offers a streaming music service, was fractionally lower. MAJOR MOVERS: Among the notable gainers was Hillshire Brands (HSH), which jumped about 17% to trade near $52 per share after the company received an unsolicited takeover offer of $50 per share in cash from Tyson Foods (TSN) that trumped the $45 per share bid announced just two days ago from Pilgrim's Pride (PPC). Also higher was Palo Alto Networks (PANW), which rose 8.5% after the company reported stronger than expected third quarter results and agreed to pay Juniper (JNPR) $175M in cash, stock and warrants as part of a settlement of their patent litigation. Among the noteworthy losers was apparel, footwear and accessory retailer Tilly's (TLYS), which dropped 16% after the company reported a decline in its first quarter same-store sales and gave lower than expected earnings guidance for the new quarter. Also lower in the day after its earnings report was Michael Kors (KORS), which slipped 5% after the shares were downgraded this morning at Avondale to Market Perform from Outperform. INDEXES: Near midday, the Dow was up 15.38, or 0.09%, to 16,648.56, the Nasdaq was up 11.86, or 0.28%, to 4,236.94, and the S&P 500 was up 4.12, or 0.22%, to 1,913.90.
News For AAPL;P;KORS;HSH;TSN;PPC;TLYS;PANW;JNPR From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | all recent news | >>
December 10, 2014
06:22 EDTAAPLChina touch panel makers suffer as smartphone inventory rises, DigiTimes reports
Subscribe for More Information
December 9, 2014
18:20 EDTAAPLApple to establish R&D center in Japan, Nikkei reports
Subscribe for More Information
16:00 EDTAAPLOptions Update; December 9, 2014
Subscribe for More Information
12:29 EDTTSNTyson Foods volatility at low end of range into investor meeting
Subscribe for More Information
10:35 EDTAAPLApple falls, levels to watch
Subscribe for More Information
10:23 EDTJNPR, KORSOn The Fly: Analyst Initiation Summary
Subscribe for More Information
09:38 EDTAAPLActive equity options trading
Subscribe for More Information
09:21 EDTAAPLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: AutoZone (AZO), up 3.8%... Burlington Stores (BURL), up 3.3%. ALSO HIGHER: bluebird bio (BLUE), up 56.5% after price target raised at Piper Jaffray and SunTrust... Camtek (CAMT), up 6.7% after being awarded a $2.8M order from a semiconductor manufacturer... PDC Energy (PDCE), up 5.8% after providing fiscal 2015 production guidance... Mast Therapeutics (MSTX), up 3.1% after reporting that it will begin recruiting patients for MST-188 study in first half of fiscal 2015... Idera Pharmaceuticals (IDRA), up 1.4% after announcing data for its lead product candidate, IMO-8400. DOWN AFTER EARNINGS: UTi Worldwide (UTIW), down 10.8%... CONN'S (CONN), down 35.9% after reporting third quarter results, withdrawing fiscal 2015 guidance, stating that there is no timetable set for completion of strategic alternatives, and announcing the departure of its CFO. ALSO LOWER: Apple (AAPL), down 1.6% after Pacific Crest says that weak iPad demand could cause Apple to miss estimates and following a Wall Street Journal report that a judge denied Apple's efforts to throw out iPod pricing lawsuit... Allied Nevada Gold (ANV), down 30.1% after announcing pricing of common stock and warrant offering... United Continental (UAL), down 2.7% after reporting November traffic.
08:03 EDTAAPLWeak iPad demand could cause Apple to miss estimates, says Pacific Crest
Subscribe for More Information
07:22 EDTJNPR, PBMO Capital to hold a conference
Subscribe for More Information
06:53 EDTKORSMichael Kors initiated with an Overweight at Stephens
Subscribe for More Information
06:39 EDTJNPRJuniper initiated with a Neutral at Wedbush
Subscribe for More Information
06:20 EDTAAPLJudge denies Apple's efforts to throw out iPod pricing suit, WSJ reports
Subscribe for More Information
December 8, 2014
16:00 EDTAAPLOptions Update; December 8, 2014
Subscribe for More Information
13:16 EDTAAPLApple trades off session lows, levels to watch
Subscribe for More Information
10:46 EDTPPandora calls active on renewed takeover speculation
Subscribe for More Information
10:36 EDTPRumor: Pandora moves up on renewed takeover chatter
06:37 EDTAAPLApple rumored to be launching 4-inch iPhone in 2015, Times of India reports
Apple is rumored to be developing a new iPhone with a 4-inch display, The Times of India reports, citing a report from The Electronic Times of Taiwan. According to supply chain sources, the device will launch in 2H15. Reference Link
06:22 EDTAAPLApple price target raised to $135 from $120 at Citigroup
Citigroup raised its earnings estimates for Apple after its field work indicated consumers are increasingly buying the higher memory iPhone 6 and 6+. Citi expects purchasing trends towards higher memory devices to drive stronger sales and margins. It believes consensus estimates are yet to factor in this development. The firm raised its price target for Apple shares to $135 from $120 and keeps a Buy rating on the name. Shares of phone maker closed Friday down 49c to $115.
06:15 EDTAAPLLenovo shipments expected to lead Samsung by 9M in 2015, DigiTimes reports
Lenovo (LNVGY) is estimated to beat Samsung (SSNLF) in mobile device shipments in 2015 by about 9M units, reports DigiTimes Research. Lenovo is set to beat Samsung by about 1M units in 2014 and become the second largest mobile computing device brand vendor worldwide behind Apple (AAPL). DigiTimes Research says Lenovo and Samsung plan to focus on maintaining tablet shipments as demand weakens in 2015. Reference Link
1 | 2 | 3 | 4 | 5 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use