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Stock Market & Financial Investment News

News Breaks
July 11, 2014
16:46 EDTECOM, SLXP, RAI, ABBV, VZ, AA, LO, AMZN, PETM, WFC, SHPGStocks end week lower on European, Fed concerns
Stocks finished the week lower as problems experienced by a Portuguese bank and a statement by the Fed worried investors. MACRO NEWS: The shares of Portugal's largest bank, Banco Espirito Santo, plunged yesterday after its parent company reportedly missed a debt payment and was accused of accounting irregularities. The news triggered fresh fears about Europe's financial stability. However, Portugal's central bank today said that Banco Espirito's funds are undoubtedly secure... The Fed was concerned that investors may not be adequately factoring in uncertainty about the outlook for the economy and monetary policy, minutes of the central bank's last meeting indicated. The central bank also indicated that it would likely end the tapering of its asset purchases in October... On a positive note, fewer new jobless claims than expected were filed last week. Additionally, Chinese inflation for June came in slightly below expectations, leading to speculation that Beijing would be able to implement additional stimulus measures. COMPANY NEWS: Earnings season kicked off, with Alcoa (AA) reporting stronger than expected results. Wells Fargo (WFC) became the first large bank to report results this earnings season. Its revenue surpassed expectations but its profits were in-line with the consensus estimate... In M&A news, AbbVie (ABBV) raised its takeover bid for U.K.-based Shire by 11% to over $51B in cash and stock. Another drug company, Salix (SLXP), announced that it would merge with its U.K.-based peer, Cosmo Technologies. The deal is expected to lower Salix's effective long-term tax rate from a high 30% level to a low 20% level. In the tobacco sector, Lorillard (LO) and Reynolds American (RAI) confirmed earlier today that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks... Longview Asset Management announced that it had obtained a 9% stake in pet supplies and services retailer PetSmart (PETM) and recommended that the retailer engage advisors for the purpose of exploring a potential sale and "other strategic alternatives," as had been suggested by another large investor in the stock, Jana Partners... Verizon (VZ) CEO Lowell McAdam said in an interview on CNBC that his company had added over 1.4M postpaid subscribers in Q2, with "record" tablet growth and "very strong" smartphone growth... Consulting firm ChannelAdvisor (ECOM) reported that Amazon's (AMZN) same-store sales growth had accelerated significantly in June compared with May. INDEXES: This week, the Dow fell 0.73% to 16,943.81, the Nasdaq fell 1.57% to 4,415.49, and the S&P 500 fell 0.9% to 1,967.51.
News For ABBV;SHPG;LO;RAI;WFC;AA;SLXP;PETM;VZ;ECOM;AMZN From The Last 14 Days
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March 20, 2015
10:00 EDTSHPGOn The Fly: Analyst Upgrade Summary
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09:45 EDTAMZNActive equity options trading on open
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09:41 EDTSHPGBernstein global specialty pharma analyst holds analyst/industry conference call
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08:12 EDTSHPGShire upgraded to Outperform from Market Perform at Bernstein
Bernstein upgraded Shire as the firm thinks that the stock's risk/reward ratio is positive following several new developments. Among these developments are the firm's belief that the company's orphan drug strategy looks increasingly strong, while the risks to the company's Vyvanse and mesalamines drugs look to have moderated and the company has several near-term, 2015 catalysts. Target $295.
07:41 EDTABBVAmerican Academy of Dermatology to hold annual meeting
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March 19, 2015
16:31 EDTAMZNAmazon Logistics UAS gets experimental airworthiness certificate
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11:53 EDTWFCU.S. banks face headwinds in unloading oil loans, WSJ says
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10:42 EDTSLXPOptions with decreasing implied volatility
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10:16 EDTAAAlcoa falls, levels to watch
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08:47 EDTABBVAbbVie and C2N sign worlwide license agreement for Alzheimer's Disease therapy
AbbVie has entered into an exclusive worldwide license agreement with C2N Diagnostics, a privately held protein diagnostic and therapeutic discovery company, to develop and commercialize a portfolio of anti-tau antibodies for the treatment of Alzheimer's Disease and other neurological disorders. Financial terms of the collaboration were not disclosed.
07:56 EDTABBVAbbVie plans $30M expansion at plant in Puerto Rico, AP reports
AbbVie is planning to expand one of its facilities in Barceloneta, Puerto Rico, The Associated Press reports. The $30M expansion is slated for a plant that manufactures products related to immunology, virology and metabolic disorders. Reference Link
05:53 EDTAMZNAmazon plans to shut down Shopify rival Amazon Webstore, Re/code reports
Amazon is planning to shut down Amazon Webstore, its competitor to Shopify and Bigcommerce, Re/code reports, citing sources. The company will allow its Webstore customers over a year to find a new vendor before the service is fully shut down, the sources say. Reference Link
05:30 EDTAMZNAmazon.com expands Prime Now delivery to Baltimore and Miami
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March 18, 2015
13:59 EDTVZT-Mobile announces 'Un-contract,' 'Carrier Freedom' initiatives
Today, during an event held to announce Un-carrier 9.0 − Un-carrier for Business − T-Mobile (TMUS) unveiled two new major Un-carrier initiatives for consumers. First, with T-Mobile’s new "Un-contract," customers will now have more certainty in their wireless pricing than ever before. Consumers and businesses with the Simple Choice rate plan will find that rates won’t go up as long as they’re a T-Mobile customer and keep their plan − and even customers with unlimited 4G LTE will lock in their rates for a minimum of two years. The Un-carrier also launched "Carrier Freedom," a new move where T-Mobile will now cover all outstanding phone and tablet payments up to $650 per line when customers from AT&T (T), Verizon (VZ) or Sprint (S) switch to T-Mobile.
10:26 EDTVZVerizon agrees to settle 911 outage probe for $3.4M
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10:00 EDTSLXPOn The Fly: Analyst Downgrade Summary
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09:23 EDTVZVerizon may launch mobile TV service as soon as June, Bloomberg says
Verizon (VZ) has secured mobile television streaming rights with Viacom (VIA, VIAB) and DreamWorks Animation (DWA) and plans to start a mobile video streaming service as early as June, according to Bloomberg, citing a person familiar with the matter. Verizon plans to have programming from ABC (DIS), NBC (CMCSA), CBS (CBS) and Fox (FOXA) as part of the service, the report added. The Fly notes that Verizon has publicly confirmed previously that it plans to launch such a service, but has not provided many details to date.
08:03 EDTSHPGTherapeuticsMD names Angus Russell, J. Martin Carroll as directors
TherapeuticsMD (TXMD) announced the appointment of two biopharmaceutical senior executives, Angus C. Russell and J. Martin Carroll, as independent members of its board of directors, and that Randall S. Stanicky has stepped down from the board of directors. Angus C. Russell served as CEO of Shire PLC (SHPG) from June 2008 until April 2013. J. Martin Carroll served as president and CEO of Boehringer Ingelheim Corp. U.S. from 2003 until 2011.
07:22 EDTSHPGShire looking for 'transformational' deal, Betaville blog says
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05:45 EDTSLXPSalix downgraded to Hold from Buy at Jefferies
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