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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
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August 19, 2015
09:33 EDTFB, NFLXActive equity options trading on open
Active equity options trading on open: AAPL BAC FB BA TWTR NFLX WMT BABA
06:53 EDTFBDeutsche Telekom exec calls for internet firms to subsidize online ads, FT says
Deutsche Telekom (DTEGY) senior vice president of technology strategy, governance, and programs Tomasz Gerszberg has called for internet companies such as Google (GOOG) and Facebook (FB) to subsidize users' mobile subscriptions due to the new way advertising takes over data allowances, the Financial Times reports, citing an article Gerszberg wrote on LinkedIn. The Deutsche Telekom executive said that consumers need to be protected from rising data charges related to "annoying" online ads, the report says. Reference Link
06:09 EDTABBVUnited Therapeutics agrees to sell PPRV to AbbVie for $350M
United Therapeutics (UTHR) announced that it has entered into an agreement to sell its Rare Pediatric Disease Priority Review Voucher, or PPRV, to a subsidiary of AbbVie (ABBV). United Therapeutics received the PPRV when Unituxin was approved by the FDA for the treatment of neuroblastoma, a rare pediatric disease. Upon closing of the transaction, United Therapeutics will receive $350M in cash in exchange for the PPRV. The voucher was awarded by the FDA under a provision that encourages development of new drugs and biologics for the prevention and treatment of rare pediatric diseases.
06:01 EDTNFLXNetflix price target raised to $143 from $116 at UBS
UBS analyst Doug Mitchelson raised his price target for Netflix (NFLX) shares to $143 after increasing his longer term revenue assumptions. The streaming service closed yesterday down $1.31 to $124.05. Mitchelson upped his 2020-2026 revenue estimates to reflect his belief that Netflix will successfully monetize its streaming platform beyond just monthly subscription fees, such as bundling and promoting third party services. He has increased confidence in the company's U.S. growth outlook after T-Mobile (TMUS) just launched a promotion for its wireless service that included one free year of Netflix. As competition among broadband providers intensifies, Netflix's inexpensive monthly streaming service could become one of the standard promotional tools, Mitchelson tells investors in a research note. The analyst's "upside case" for Netflix shares is $199 while his "downside case" is $55. The downside case assumes Hollywood starts restricting content licensing to streaming services like Netflix in attempt to slow their growth. Mitchelson keeps a Buy rating on Netflix.
05:57 EDTABBVAbbVie implied volatility of 20 at lower end of index mean range
August 18, 2015
16:19 EDTFBTencent invests $50M in messaging app Kik
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16:00 EDTNFLX, FBOptions Update; August 18, 2015
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12:27 EDTFBStocks with call strike movement; FB BABA
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11:14 EDTNFLXStocks with call strike movement; NFLX VALE
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09:39 EDTNFLX, FBActive equity options trading on open
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08:27 EDTFBFacebook price target raised to $120 on growth and engagement at MKM Partners
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07:33 EDTFBPiper's Munster sees virtual reality moving Facebook shares higher
Three themes centering on virtual reality could move shares of Facebook higher over the next three months, Piper Jaffray analyst Gene Munster tells investors in a research note. First up in September, Facebook's Oculus unit will host a developer conference in Los Angeles which will address investor questions around the virtual reality use case, Munster writes. Second, the consumer version of Oculus, called Rift, will be available slightly earlier than investors expect with sales starting in January of next year, Munster believes. And third, based on his analysis on LinkedIn profiles, Munster thinks Facebook is making the most aggressive investment in VR talent. He has increased confidence in the social media giant's long term virtual position and reiterates an Overweight rating on the stock with a $146 price target. Facebook closed yesterday down 49c to $93.93.
August 17, 2015
19:54 EDTFBComcast online video platform to give creators 70% share of ad revenue, WSJ says
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19:29 EDTFBFacebook tests expanded blog capabilities, CNET says
Facebook (FB) is testing an expanded version of its "notes" feature, allowing users to include large background photos in the blog-like service, reports CNET. The new look puts the service more in line with Yahoo's (YHOO) Tumblr blogging platform, said the report, and a Facebook spokesperson remarked that the test aims to "make it easier for people to create and read longer-form stories on Facebook." Reference Link
16:00 EDTFBOptions Update; August 17, 2015
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12:23 EDTNFLXStocks with call strike movement; Netflix J.C. Penney
Netflix (NFLX) January 150 call option implied volatility increased 2% to 48, J.C. Penney (JCP) January 10 call option implied volatility increased 1% to 40 according to IVolatility.
09:38 EDTFB, NFLXActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
06:55 EDTSHPGBaxalta initiated with an Outperform at William Blair
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06:48 EDTSHPGShire to raise Baxalta offer if given access to company's books, Telegraph says
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August 16, 2015
15:03 EDTSHPGShire must raise bid to $35B to interest Baxalta, Sunday Times says
Shire (SHPG) will have to increase its bid for Baxalta (BXLT) by about $5B to $35B in order to entice the company's board, reports the Sunday Times, citing people working on the deal. Even a $35B deal would only be a starting point, cautioned the sources. Reference Link
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