New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News For ABBV;ABT;ALJ;ALDW;FB;WGP;WES;LRCX;WHF 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 | 6 | 7 >>
February 1, 2016
08:20 EDTFBTwitter jumps after The Information breaks potential deal
Shares of Twitter (TWTR) are rising in pre-market trading after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen and have "considered some sort of deal" for the microblog service operator. WHAT'S NOTABLE: Lessin said in her report published on her site, The Information, that she did not know if deal considerations are "active" now with Andreessen and private equity firm Silver Lake. Silver Lake calls itself "the global leader in technology investing," stating that it has over $26B in combined assets under management. FREQUENT SPECULATION TARGET: Twitter has often been the subject of takeover rumors in the past year. Last April, Re/code's Kurt Wagner reported that Google (GOOG) and Facebook (FB) had looked at a potential acquisition of Twitter in the past, but noted at that time that neither tech giant was in discussions to acquire the social network owner. On January 20, News Corp. (NWSA) declined comment to CNBC regarding speculation about its potential interest in acquiring Twitter. Speculation also circulated the same day regarding an activist investor taking an interest in Twitter, trading sources told The Fly. PRICE ACTION: In pre-market trading near 8:15 am ET, Twitter rose 7% to $18 per share.
08:09 EDTABTOptions expected to be active
Options expected to be active: GOOGL GOOG YHOO UPS KORS UPS BAX RCL CCL PFE AET D STR DWA CMG ABT SYK.
08:05 EDTABTAbbott to acquire Alere for $56 per share
Abbott (ABT) and Alere (ALR) announced a definitive agreement for Abbott to acquire Alere. Under the terms of the agreement, Abbott will pay $56 per common share at a total expected equity value of $5.8B. Once the transaction is completed, Abbott will become the leading diagnostics provider of point of care testing, the company said. Abbott's total diagnostics sales will exceed $7B after the close. The transaction will be immediately accretive to Abbott's ongoing earnings per share upon close and significantly accretive thereafter, with approximately 12c-13c of accretion in 2017 and more than 20c in 2018. The combination is anticipated to result in annual pre-tax synergies approaching $500M by 2019 and increasing thereafter, including both sales and operational benefits. Under the terms of the agreement, Alere shareholders will receive $56 per common share in cash at the completion of the transaction, and Alere will become a subsidiary of Abbott. Alere's net debt, currently $2.6B, will be assumed or refinanced by Abbott. The transaction, which has been approved by the boards of directors of Alere and Abbott, is subject to the approval of Alere shareholders and the satisfaction of customary closing conditions, including applicable regulatory approvals.
08:02 EDTABTAbbott to acquire Alere for $56 per share
Subscribe for More Information
05:10 EDTFBStocks with implied volatility below IV index mean; UA FB
Stocks with implied volatility below IV index mean; Under Armour (UA) 36, Facebook (FB) 30 according to iVolatility.
January 31, 2016
20:43 EDTLRCXOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
19:04 EDTFBApple acquires Flyby, assembles 'secret' virtual reality team, FT says
Subscribe for More Information
14:12 EDTFBApple should avoid 'dubious' M&A, focus on cloud, AI development, Barron's says
"Impatient" investors encouraging Apple (AAPL) to become a mere dividend payer or make "dubious" acquisitions are not making much sense, Barron's contends in its 'Technology Trader' column. Apple continues to innovate and its iPhone franchise "will endure," though the one area where Apple lags behind peers and "can and should" make progress is cloud computing, according to the publication. Alphabet (GOOG), Facebook (FB) and Microsoft (MSFT) are making large strides in cloud and artificial intelligence, but the company still has "plenty of opportunity" to catch up given its product install base, Barron's says. Reference Link
12:44 EDTLRCXAutodesk, Akamai among top tech picks after January selloff, Barron's says
Subscribe for More Information
11:39 EDTFBS&P falls 5% in January despite second straight winning week to close month
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
January 29, 2016
17:53 EDTFBFacebook to prohibit users from arranging private firearms sales, Reuters says
Facebook intends to announce that it will start prohibiting users from arranging private sales of firearms on the online social network, Reuters reports, citing a spokeswoman. Licensed retailers will still be able to advertise firearms on Facebook that lead to transactions outside of its platform, the spokeswoman said. Reference Link
17:12 EDTABBVOn The Fly: Top stock stories for Friday
Stocks began the session in positive territory and remained there throughout the day. The early strength was attributed to the surprise cut in interest rates by the Bank of Japan that put the country in a negative interest rate scenario. The market gained strength throughout the day and put in gains of almost 2.5% in what was a broad based advance for the major averages. January closed out with two winning weeks, but the month was still a very bad one for stocks, as the S&P lost over 5% even after today's strong showing. ECONOMIC EVENTS: In the U.S., the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The Chicago PMI business barometer bounced to 55.6 in January, topping forecasts for a 45.3 reading. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast. In a surprise move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: Shares of Amazon (AMZN) declined 7.6% to $587 after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings after last night's closing bell, gained 5.8% to $55.09... Confirming a news report that broke late in the day yesterday, Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44. MAJOR MOVERS: Among the notable gainers was Axiall (AXLL), which jumped 83% to $17.94 after it came to light that the company received, and rejected, an unsolicited proposal from Westlake Chemical (WLK) offering to acquire the company for $20 per share in cash and stock. Also higher were Visa (V) and Mastercard (MA), which gained 7% and 6.4%, respectively, after reporting quarterly earnings. Among the notable losers was Gilead (GILD), which fell 5.5% to $82.70 after rival Merck (MRK) received FDA approval for its own hepatitis C drug. Also potentially weighing on Gilead shares was the fact that competitor AbbVie (ABBV) announced financial results for the fourth quarter, including sales of Viekira Pak, its own hep C treatment, that fell short of estimates. AbbVie fell 2.3% to $54.58 following its quarterly report. INDEXES: The Dow rose 396.66, or 2.47%, to 16,466.30, the Nasdaq gained 107.28, or 2.38%, to 4,613.95, and the S&P 500 added 46.88, or 2.48%, to 1,940.24.
16:00 EDTFBOptions Update; January 29, 2016
Subscribe for More Information
10:27 EDTABTActive calls: IWM F DXJ ABT FXI AAPL EEM COP
Subscribe for More Information
10:05 EDTABTOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Abbott (ABT) downgraded to Market Perform from Outperform at William Blair... Chuy's (CHUY) downgraded to Market Perform from Outperform at Raymond James... Cypress Semiconductor (CY) downgraded to Neutral from Buy at Sterne Agee CRT... Darden (DRI) downgraded to Underperform from Market Perform at Raymond James... Dominion (D) downgraded to Neutral from Buy at UBS... Ensco (ESV) downgraded to Neutral from Buy at Citi... First Financial (FFIN) downgraded to Sell from Hold at Sandler O'Neill... Global Partners (GLP) downgraded to Neutral from Overweight at Mitsubishi UFJ... Investors Bancorp (ISBC) downgraded to Sell from Neutral at Compass Point... NetScout (NTCT) downgraded to Hold from Buy at Needham... Precision Castparts (PCP) downgraded to Sell from Buy at Gabelli... Spirit AeroSystems (SPR) downgraded to Sell from Neutral at Goldman... Synaptics (SYNA) downgraded to Buy from Strong Buy at Needham... Terex (TEX) downgraded to Market Perform from Outperform at Avondale... UniCredit (UNCFF) downgraded to Hold from Buy at Berenberg... United Rentals (URI) downgraded to Neutral from Positive at Susquehanna... Xcel Energy (XEL) downgraded to Neutral from Outperform at Macquarie.
09:52 EDTABBVAbbVie: 2% of FY15 operational growth from price increases
Subscribe for More Information
09:44 EDTABBVGilead slips as another drug enters Hepatitis C virus space
Shares of Gilead (GILD), a leader in the hepatitis C virus treatment space, are sliding this morning after one competitor's hep C drug was granted FDA approval and another's sales disappointed. Additionally, Gilead reported its own news, announcing a shakeup of the roles held by its top executives. MERCK APPROVAL: Merck (MRK) announced last night that the FDA has approved Zepatier for the treatment of adult patients with chronic hepatitis C virus, or HCV, genotype, or GT, 1 or GT4 infection. Merck has established a list price of $54,600 for a 12-week regimen of Zepatier, which the company said it believes to "be in the range of net prices for other commonly used HCV direct-acting antiviral regimens at 12 weeks of therapy." In contrast, a 12-week regimen of Gilead's Sovaldi is reported to be priced at $84,000. Merck added that it anticipates that this price, as well as its "strategy to seek broad coverage across commercial and public segments," will help broaden and accelerate patient access to treatment. ABBVIE RESULTS: Meanwhile, Gilead competitor AbbVie (ABBV) announced financial results for the fourth quarter this morning. AbbVie announced Q4 sales of Viekira Pak, its own hep C treatment, of $554M, including U.S. sales of $197M and international sales of $357M. Analysts expected AbbVie to report Q4 Viekira sales of $568.5M, according to a Bloomberg consensus estimate that factored in four forecasts. EXECUTIVE CHANGES: Additionally, Gilead announced this morning that current chairman and CEO John Martin will assume the role of executive chairman, effective March 10. John Milligan, currently president and COO, will be promoted to CEO and appointed to the company's board. PRICE ACTION: In morning trading, Gilead shares slipped 3.5% to $84.50, while AbbVie fell 2.4% to $54.53 and Merck (MRK) gained 1% to $49.75.
09:38 EDTABBVAbbVie sees FY16 Humira revenue growth in high-teens
Subscribe for More Information
09:35 EDTABBVAbbVie sees Q1 adjusted EPS $1.13-$1.15, consensus $1.15
Guidance excludes 11c of non-cash amortization and specified items. Sees Q1 revenue growth just above 20%, consensus $6.06B.
09:34 EDTFBActive equity options trading on open: AMZN MSFT FB AAPL GILD GE
Subscribe for More Information
<< 1 | 2 | 3 | 4 | 5 | 6 | 7 >>

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