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Stock Market & Financial Investment News

News Breaks
April 18, 2012
07:47 EDTABTAbbott says split "on track to be completed by the end of the year"
News For ABT From The Last 14 Days
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February 1, 2016
16:21 EDTABTOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, beginning February the way they spent most of January, weighed down by the price of oil, which fell about 6% for the session. Also hitting the market early were weak economic reports, both in China and the U.S. The averages moved higher late in the day as investors awaited the next barrage of earnings reports, which will include results from Google parent Alphabet (GOOG). ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in December, versus expectations for an increase of 0.2%, while spending was flat, versus expectations for an increase of 0.1%. Markit's manufacturing purchasing managers index for January dipped to 52.4 in the final January reading, down from the 52.7 flash reading and below the 52.6 reading that was expected. The Institute for Supply Management's manufacturing index for January came in at 48.2, below the 48.4 that analysts expected. Construction spending rose 0.1% in December, which was weaker than the 0.6% increase that was forecast. Separately, Federal Reserve Vice Chairman Stanley Fischer spoke about recent monetary policy decisions undertaken by the Fed, reiterating expectations that "economic conditions will evolve in a manner that will warrant only gradual increases in the federal funds rate," while also revealing that four rate hikes is among the numbers being discussed by the Federal Reserve for this year. In China, the government's official manufacturing purchasing managers index fell to 49.4 in January from 49.7 in December. The private Caixin manufacturing PMI edged up to 48.4 from 48.2 in the prior reading, but both figures still remain in contraction territory. In Europe, Markit's manufacturing PMI for the euro zone dropped to 52.3 from December's 53.2, in-line with the earlier flash estimate. COMPANY NEWS: After swinging as high as $18.77, shares of Twitter (TWTR) ended the day up 6.55% at $17.90 after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen have "considered some sort of deal" for the microblog service operator, though Lessin noted she didn't know if deal talks are currently active. Later in the day, a source familiar with the matter told Fortune that Silver Lake has no interest in acquiring "even a slice" of Twitter... Alere (ALR) surged 45.5% to $54.11 after Abbott (ABT) agreed to acquire the company for $56 per share at a total expected equity value of $5.8B. In other M&A news, Questar (STR) jumped 22.5% to $24.99 after Dominion Resources (D) agreed to acquire it for $25 per share, or about $4.4B. Dominion slipped 2.76% after announcing the deal and reporting its latest quarterly results... Chipotle (CMG) rose 4.3% to $472.64 after the Centers for Disease Control and Prevention released its final update on the company's E. coli scare, saying the two outbreaks "appear to be over." MAJOR MOVERS: Among the notable gainers were Sysco (SYY) and Aetna (AET), which advanced 8.4% and 1.4%, respectively, after reporting quarterly earnings. Also higher was Barracuda Networks (CUDA), which jumped about 11% to $11.75 after Bloomberg reported the company is exploring a sale. In addition, Time Warner (TWX) gained 2.7% after the New York Post reported over the weekend that billionaire investor Nelson Peltz is considering taking an activist position in the company. Among the noteworthy losers was GoPro (GPRO), which declined 3.4% to $11.06 after analysts from Piper Jaffray and Citi predicted that the company's guidance this week will disappoint investors. Also lower was DreamWorks (DWA), which fell 6.8% to $23.90 after the studio's new film "Kung Fu Panda 3" missed expectations for its domestic box office opening. Meanwhile, Roper Technologies (ROP) and Cardinal Health (CAH) lost a respective 6.8% and 1.9% after reporting quarterly earnings. INDEXES: The Dow slipped 17.12, or 0.1%, to 16,449.18, the Nasdaq gained 6.41, or 0.14%, to 4,620.37, and the S&P 500 fell 0.86, or 0.04%, to 1,939.38.
12:13 EDTABTOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday, but off their worst levels of the day, as oil is once again being weighed on by worries of slower growth in China. Several M&A announcements helped fuel speculation that deal-making may be set to pick up, but the headwinds of lower oil prices and weak economic data are outweighing that potential boost and keeping stocks in the red to start the month. ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in December, versus expectations for an increase of 0.2%, while spending was flat, versus expectations for an increase of 0.1%. Markit's manufacturing purchasing managers index for January dipped to 52.4 in the final January reading, down from the 52.7 flash reading and the below the 52.6 reading that was expected. The Institute for Supply Management's manufacturing index for January came in at 48.2, below the 48.4 that analysts expected. Construction spending rose 0.1% in December, which was weaker than the 0.6% increase that was forecast. In China, the statistics bureau's official manufacturing purchasing managers index fell to 49.4 in January from 49.7 in December. The private Caixin manufacturing PMI edged up to 48.4 from 48.2 in the prior reading, but both figures still remain in contraction territory. In Europe, Markit's manufacturing PMI for the euro zone dropped to 52.3 from December's 53.2, in-line with the earlier flash estimate. COMPANY NEWS: Shares of Twitter (TWTR) advanced 9% after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen have "considered some sort of deal" for the microblog service operator. Lessin noted in the report published on her site, The Information, that she did not know if deal talks are "active" now between Andreessen, Silver Lake and Twitter... Alere (ALR) surged 45% to $54 per share near midday after Abbott (ABT) agreed to acquire the company for $56 per share at a total expected equity value of $5.8B. In other Monday M&A news, Questar (STR) rose 22% after Dominion Resources (D) agreed to acquire it for $25 per share, or about $4.4B, and assume Questar's outstanding debt. Meanwhile, Stryker (SYK) announced a deal to acquire Sage Products for $2.775B in cash. The buyers' shares did not fare as well in the wake of the deal announcements, as Abbott slipped 0.5%, Dominion dipped 1% and Stryker fell 1%. Also lower were shares of Smith & Nephew (SNN), which slid fractionally as investors may have been concerned that Stryker's deal decreases the likelihood that it will come after S&N. Additionally, Smith & Nephew announced that its CEO Olivier Bohuon has been diagnosed with a "highly treatable" form of cancer. MAJOR MOVERS: Among the notable gainers was Lumber Liquidators (LL), which gained 8.5% after a judge accepted the company's $10M plea deal to settle timber source crime charges, according to media reports. Also higher was Chipotle (CMG), which rose 5.5% after The Wall Street Journal reported that the Centers for Disease Control and Prevention is expected to formally declare the end to its E.coli outbreak as soon as today. In addition, Sysco (SYY) and Aetna (AET) were up 7% and 2%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Nokia (NOK), which fell 12% after it forecasted how much revenue it expects to gain from its IP portfolio after its patent deal with Samsung (SSNLF) and its shares were downgraded at Canaccord and BofA Merrill Lynch. Also lower was GoPro (GPRO), which was slid 5% after analysts from Piper Jaffray and Citi predicted that the company's guidance to be issued this week will disappoint investors. In addition, Roper Technologies (ROP) and ImmunoGen (IMGN) were down 6.5% and 5.7%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 56.40, or 0.34%, to 16,409.90, the Nasdaq was down 12.25, or 0.27%, to 4,601.70, and the S&P 500 was down 6.51, or 0.34%, to 1,933.73.
09:27 EDTABTOn The Fly: Pre-market Movers
HIGHER: Alere (ALR), up 45.4% after announcing that Abbott (ABT) will acquire the company for $56 per share... Questar (STR), up 20.2% after announcing that Dominion (D) will acquire the company for $25 per share and assumed debt... Mast Therapeutics (MSTX), up 12.2% after the Phase 2a study of AIR001 met its primary endpoint... Twitter (TWTR), up 5.7% after The Information reported that Marc Andreessen and Silver Lake have considered a deal for Twitter... Herbalife (HLF), up 2.2% after the Wall Street Journal reported that probes into Bill Ackman's "pyramid scheme" accusations against Herbalife, as well as Herbalife's own accusations that Ackman sought to manipulate the company's stock, have both failed to uncover enough evidence to support criminal charges. LOWER: Dominion Resources, down 1.7% after reporting quarterly results and that it will acquire Questar... Abbott, down 4.1% after announcing that it will acquire Alere... GoPro (GPRO), down 4.4% after Piper Jaffray cut its price target to $7.50.
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
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January 29, 2016
10:27 EDTABTActive calls: IWM F DXJ ABT FXI AAPL EEM COP
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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.
06:37 EDTABTAbbott downgraded to Market Perform from Outperform at William Blair
William Blair analyst Margaret Kaczor downgraded Abbott Laboratories to Market Perform citing a more bearish outlook on the potential for near-term transformative or accretive transactions due to management's comments on the earnings call. The analyst also sees risk of further downside to the company's emerging market businesses.
January 28, 2016
12:20 EDTABTOn The Fly: Top stock stories at midday
Stocks on Wall Street have moved all over the place in a wild morning of trading. The averages opened sharply higher as oil prices rose above $34 a barrel. The Dow opened with triple digit gains but following reports from Iraq that it would increase oil production, and refutations of rumors that OPEC might cut production, the commodity began to weaken, taking equities with it. The averages turned negative and it looked like another rout might be in the making. Before the market fell too far, it gathered itself and moved back into positive ground and the major averages are now in the green, but not far from where they ended yesterday's session. ECONOMIC EVENTS: In the U.S., 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 National Association of Realtors' pending home sales index for December rose 0.1%, versus expectations for it to be up 0.9%. COMPANY NEWS: Shares of Facebook (FB) surged 14.5% after the social media giant's fourth quarter earnings and revenue beat expectations. Wall Street analysts were nearly unanimous in their praise following the report, with a number increasing their price targets for its shares... 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 about 2% this morning after the company jumped over its lowered profit hurdle... Shares of eBay (EBAY) and PayPal (PYPL) diverged after the recently-split companies reported their respective fourth quarter results and gave guidance, with eBay falling 13% and PayPal rising 7% near midday... The Dow Jones US Healthcare ETF (IYH) fell over 2% at midday after a number of big-names in the space gave disappointing guidance. Celgene (CELG) fell 5% following its Q4 report and fiscal year outlook, while Abbott (ABT) dropped 8% in the wake of its own results and guidance. MAJOR MOVERS: Among the notable gainers was Kinder Morgan (KMI), which rallied 8.5% after it was upgraded at Credit Suisse and Stifel. Also higher were Under Armour (UA), Dolby (DLB) and Deluxe (DLX), which gained 18%, 11% and 9%, respectively, after reporting quarterly earnings. Among the noteworthy losers was OSI Systems (OSIS), which fell 35% and was downgraded to Hold at BB&T following downbeat quarterly earnings. Also lower were Qualcomm (QCOM) and Discover (DFS), which each dropped about 7% after their quarterly earnings reports. INDEXES: Near midday, the Dow was up 1.37, or 0.01%, to 15,945.83, the Nasdaq was up 21.12, or 0.47%, to 4,489.28, and the S&P 500 was up 3.36, or 0.18%, to 1,886.31.
11:33 EDTABTOptions with increasing call volume
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10:47 EDTABTAbbott weakness a buying opportunity, says Deutsche Bank
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09:38 EDTABTAbbott says 'definitely not inactive' on M&A
09:38 EDTABTAbbott: Would look at deal 'if it was the right opportunity at the right place'
Says capital allocation priorities have not changed. Regarding M&A, says has been looking at properties "largely internationally." Says has made good deals in the past. Says "We don't see a lot that people are offering up for sale," says prices for things up for sale "imprudent." Says would look at a deal if "it was the right opportunity at the right place." Says "everybody's in the same environment." Says "probably more focused" on M&A.
09:26 EDTABTAbbott sees global diagnostics sales up mid single digits for Q1, FY16
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09:19 EDTABTOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Facebook (FB), up 13.9%... Under Armour (UA), up 14.6%... MicroStrategy (MSTR), up 8.9%... Harley-Davidson (HOG), up 8%... Paypal (PYPL), up 6%... Mellanox (MLNX), up 7.9%... Cirrus Logic (CRUS), up 6.2%... Alibaba (BABA), up 4.5%. ALSO HIGHER: Neos Therapeutics (NEOS), up 61.4% after the FDA approved Adzenys XR-ODT for the treatment of ADHD... Exelixis (EXEL), up 4.7% after the U.S. FDA determined the company's New Drug Application for cabozantinib is sufficiently complete... Kinder Morgan (KMI), up 6.7% after being upgraded at Credit Suisse and Stifel. DOWN AFTER EARNINGS: OSI Systems (OSIS), down 21.3%... ServiceNow (NOW), down 22.3%... eBay (EBAY), down 11.5%... InvenSense (INVN), down 10.5%... Juniper Networks (JNPR), down 9.3%... Hologic (HOLX), down 4.4%... Abbott Laboratories (ABT), down 3.6%... Potash (POT), down 2.1%... Qualcomm (QCOM), down 3.6%.
09:19 EDTABTAbbott expects EPS to progressively accelerate throughout 2016
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07:35 EDTABTAbbott sees Q1 EPS ex-items 38c-40c, consensus 47c
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07:34 EDTABTAbbott sees FY16 EPS ex-items $2.10-$2.20, consensus $2.26
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07:33 EDTABTAbbott reports Q4 adjusted EPS 62c, consensus 61c
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