New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 8, 2014
16:23 EDTTXMD, SHPG, LRCX, FB, ABBV, IPCI, NFLXOn The Fly: Closing Wrap
Stocks on Wall Street opened lower and stayed in negative territory for the entire session. The tech-heavy Nasdaq was weighed down by slides in a number of "momentum" stocks, while the Dow fell below 17,000 after having eclipsed that milestone for the first time to end last week. The declines came as investors prepare for earnings season, which unofficially kicked off when Alcoa (AA) reported after today's closing bell. ECONOMIC EVENTS: In the U.S., the Job Openings and Labor Turnover, or JOLTs, report showed a 171K increase in job openings to 4.635M, marking a fourth straight monthly gain. Consumer credit grew $19.6B in May, which was fairly in-line with expectations for it to be up $19.8B. COMPANY NEWS: Shares of both AbbVie (ABBV) and Shire (SHPG) fell, despite the U.S. drug company raising its takeover bid for its U.K. peer by 11% to over $51B in cash and stock. Shire responded by saying that AbbVie did not make the revised proposal to Shire before the announcement and that its board will meet to consider the revised offer. Following the announcement of the new bid, Shire shares trading in New York fell $4.55, or 1.92%, to $232.92, while AbbVie slipped $1.71, or 2.98%, to $55.69. MAJOR MOVERS: Among the notable gainers was TherapeuticsMD (TXMD), which rose $1.34, or 32.45%, to $5.47 after research firm FBR Capital initiated the stock with an Outperform rating and $34 price target. Also higher was Lam Research (LRCX), which gained $1.06, or 1.54%, to $69.67 after providing updated financial guidance at its analyst and investor meeting. Among the noteworthy losers was Intellipharmaceutics (IPCI), which fell 52c, or 13.33%, to $3.38 after reporting a net loss for its second fiscal quarter. Also lower were shares of a number of prominent technology "momentum" stocks, including Facebook (FB), which slid $2.53, or 3.88%, to $62.76, and Netflix (NFLX), which dropped $15.57, or 3.38%, to $445.05. INDEXES: The Dow lost 117.59, or 0.69%, to 16,906.62, the Nasdaq declined 60.07, or 1.35%, to 4,391.46, and the S&P 500 dropped 13.94, or 0.7%, to 1,963.71.
News For ABBV;SHPG;NFLX;FB;TXMD;IPCI;LRCX 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 | all recent news | >>
December 8, 2014
06:58 EDTLRCXLam Research price target raised to $95 from $81 at Deutsche Bank
Subscribe for More Information
December 5, 2014
16:56 EDTNFLXNetflix initiated with a Neutral at UBS
Target $370.
13:41 EDTSHPGShire to host research and development day with a conference call hookup
Research and Development meeting to be held in New York on December 10 at 8 am. Webcast Link
11:23 EDTNFLX, FBOption volume leaders
Subscribe for More Information
10:20 EDTFBYahoo rises, Google falls after BofA changes ratings on both
Shares of Yahoo (YHOO) are rising and Google's (GOOG, GOOGL) stock is falling after Bank of America Merrill Lynch upgraded Yahoo and downgraded Google. WHAT'S NEW: Bank of America analyst Justin Post upgraded his rating on Yahoo to Buy from Neutral. Post said he had previously not expected to obtain information about Yahoo's strategy for avoiding taxes on the sale of its stake in Chinese e-commerce giant Alibaba (BABA) at least until well into 2015. However, Yahoo's CFO recently stated that the company continued to be optimistic that it would be able to cut its tax bill and added that the company would divulge its plans for doing so during its next earnings conference call. Yahoo's next earnings conference call is expected to take place by the end of next month, Post noted. He set a $62 price target on Yahoo shares. Meanwhile, Post downgraded Google to Neutral from Buy. The analyst thinks the company is facing several headwinds, including the maturity of its search business, a lack of products that can provide catalysts, and margin pressures as it invests in competitive businesses. As a result of these headwinds, Google's results are likely to be below expectations, Post believes. Meanwhile, the company is also facing increased regulatory risk, particularly in the EU, and increased competition from Facebook (FB) and other social networks. He trimmed his price target on Google to $580 from $600. PRICE ACTION: In early trading, Yahoo climbed 1% to $50.94, while Google class A shares declined 1.5% to $534.33.
10:00 EDTFBOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acorda Therapeutics (ACOR) initiated with a Neutral at Goldman... Builders FirstSource (BLDR) initiated with a Neutral at Sterne Agee... CSI Compressco (CCLP) initiated with a Buy at Stifel... California Resources Corp. (CRC) initiated with a Market Perform at Raymond James... Castlight Health (CSLT) initiated with an Equal Weight at First Analysis... DCP Midstream (DPM) initiated with a Buy at MLV & Co.... DSP Group (DSPG) initiated with an Outperform at Imperial Capital... Edwards Lifesciences (EW) initiated with an Outperform at Bernstein... EnLink Midstream (ENLK) initiated with a Buy at MLV & Co.... Facebook (FB) initiated with a Buy at MKM Partners... FireEye (FEYE) initiated with a Market Perform at JMP Securities... FleetCor (FLT) initiated with a Buy at Deutsche Bank... Imperva (IMPV) initiated with a Buy at Nomura... Keryx (KERX) initiated with an Outperform at Cowen... Knowles (KN) initiated with a Market Perform at FBR Capital... Marlin Midstream (FISH) initiated with a Buy at MLV & Co.... Paragon Offshore (PGN) initiated with a Sector Perform at Iberia... PepsiCo (PEP) initiated with a Buy at Evercore ISI... Proofpoint (PFPT) initiated with a Buy at Nomura... Relypsa (RLYP) initiated with an Outperform at Oppenheimer... Rocket Fuel (FUEL) initiated with a Sell at Maxim... Sprouts Farmers Markets (SFM) initiated with an Underperform at Longbow... Summit Midstream (SMLP) initiated with a Buy at MLV & Co.... TubeMogul (TUBE) initiated with a Buy at Maxim... Western Gas Partners (WES) initiated with a Buy at MLV & Co.
08:55 EDTFBYahoo seen overtaking Twitter in U.S. mobile ad market share, WSJ reports
Research firm eMarketer predicts Google (GOOG, GOOGL) and Facebook (FB) will account for about 35% and 17%, respectively, of the U.S. mobile ad market in 2015, but the firm also expects Yahoo (YHOO) will edge past Twitter (TWTR) in terms of mobile ad revenue, with projected market shares of 3.74% and 3.69%, respectively, reported The Wall Street Journal. Reference Link
06:31 EDTFBFacebook initiated with a Buy at MKM Partners
Target $105.
December 4, 2014
16:00 EDTFB, NFLXOptions Update; December 4, 2014
Subscribe for More Information
14:49 EDTSHPGSalix, Shire rise after analyst says merger would be 'attractive'
Subscribe for More Information
13:39 EDTFBTarget executive says tough to choose between TV, Facebook, BI reports
Subscribe for More Information
09:01 EDTABBVVA negotiated $594 per dose price for Gilead HCV treatment
A Veterans Health Administration official told a Senate committee yesterday that Veterans' Affairs has "moved rapidly to deploy new, more effective, less toxic HCV treatments and has been able to negotiate significant discounts for these newer therapies." The agency negotiated a price of $594 per dose for Gilead's (GILD) Hepatitis C virus drug Sofosbuvir, below the commercial price of $1,000 per dose, VHA Chief Consultant for Pharmacy Benefits Management Michael Valentino told the Senate's Committee on Veterans' Affairs. The agency also received a $413 per dose price for Johnson & Johnson's (JNJ) Simeprevir, below the commerical price of $790. The VA has approximately 174,000 veterans in care with HCV, making it the largest single HCV provider in the U.S., Valentino pointed out. He added, "Like the rest of the country, VA has treated only a portion of Veterans for HCV because treatment and cures have been difficult to achieve due to low efficacy and high toxicity of standard drug therapies." Reference Link
08:45 EDTABBVAbbVie price target raised to $80 from $72 at Jefferies
Jefferies raised its price target for AbbVie shares to $80 while calling the company one of its top five global pharma picks for 2015. The firm's top U.S. pick is Pfizer (PFE) and its top Europe pick is Novartis (NVS). Bayer (BAYRY) and AstraZeneca (AZN) round out the top five. Jefferies thinks AbbVie's "strong momentum" will continue into the first half of 2015 and keeps a Buy rating on the name.
06:43 EDTFBFacebook and ESET announce partnership to fight malware
Subscribe for More Information
December 3, 2014
19:11 EDTSHPGAstraZeneca, Shire interested in Ariad, Daily Mail reports
Ariad (ARIA) is trading higher on speculation that both AstraZeneca (AZN) and Shire (SHPG) are interested in the company with the possibility of an ensuing auction, according to the Daily Mail, which added that analysts see an acquisition price for Ariad of more than $20 per share. Reference Link
16:00 EDTFB, NFLXOptions Update; December 3, 2014
iPath S&P 500 VIX Short-Term Futures down 45c to 26.52. Option volume leaders: AAPL TSLA TWTR AMZN FB NFLX C GILD RIG ABX according to Track Data.
12:42 EDTNFLXSodaStream mentioned positively again by Tilson in Seeking Alpha post
Subscribe for More Information
11:35 EDTFBStocks with call strike movement; ANF FB
Abercrombie & Fitch (ANF) May 35 call option implied volatility decreased 13% to 34, Facebook (FB) March 82.5 call option implied volatility increased 2% to 32 according to IVolatility.
09:35 EDTNFLXActive equity options trading
Subscribe for More Information
07:14 EDTFBBusiness Insider to hold a conference
Business Insider IGNITION 2014 Conference is being held in New York on December 1-3 with webcasted company presentations to begin on December 3 at 8 am; not all company presentations may be webcasted. Webcast Link
1 | 2 | 3 | 4 | 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