New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 21, 2014
09:10 EDTAGN, PETS, MCD, YUM, HAL, EXTR, VRX, GPRO, KNDI, EGAS, MO, LO, RAI, EMC, TSLA, HASOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
News For AGN;TSLA;EMC;RAI;LO;MO;EGAS;KNDI;GPRO;VRX;EXTR;HAL;YUM;MCD;PETS;HAS 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 | 8 | 9 | 10 | 11 | all recent news | >>
October 9, 2014
13:39 EDTEMCCisco denies rumors that it will stop investing in VCE JV, The Register reports
Subscribe for More Information
13:37 EDTEMCCisco may end further investment in VCE JV, CRN reports
Subscribe for More Information
13:19 EDTGPROGoPro falls to session lows, levels to watch
Subscribe for More Information
12:56 EDTGPROGoPro October volatility increases
Subscribe for More Information
12:28 EDTVRX, AGNAllergan price target raised to $230 from $210 at BTIG
BTIG said it expected Allergan to beat the consensus forecast for Q3 EPS, but not by as much as it did, and the firm did not expect the company to raise its future EPS outlook yet again. BTIG feels the stock's move higher indicates Valeant (VRX) or Actavis (ACT) would need to bid above $200 if they hope to buy the company. BTIG maintains its Buy rating on Allergan and raised its price target on the stock to $230 from $210.
11:14 EDTVRX, AGNAllergan raises outlook again as Valeant pursuit continues
Drug maker Allergan (AGN) this morning preannounced stronger than expected results and again raised its fiscal year profit guidance. The beat and raise results come after The Wall Street Journal reported on Tuesday that drug maker Valeant (VRX) and hedge fund Pershing Square intend to raise their previous bid for Allergan by $15 per share to about $191. Meanwhile, also on Tuesday, Reuters said that drug maker Actavis (ACT) plans to make a new merger offer to Allergan, and sources indicated to the news service that Allergan may be willing to consider an offer from Actavis if the bid is for more than $200 per share. WHAT'S NEW: Allergan estimated that its third quarter earnings per share would come in at $1.76-$1.78, versus analysts' consensus estimate of $1.48. The drug maker had previously provided Q3 EPS guidance of $1.44-$1.47. Allergan raised its fiscal 2014 EPS guidance to $6.20-$6.25 from $5.74-$5.80. Analysts' consensus estimate was $5.81. This is the fourth time that Allergan has raised its guidance this year. Allergan said that its markets have been strong around the world, while it is gaining market share in most categories. ANALYST REACTION: In a note to investors today, Wells Fargo analyst Larry Biegelsen wrote that, in the wake of Allergan's guidance increase, the company's price to earnings multiple could expand to 22x its estimated 2016 earnings, up from its current multiple of 19x. In addition to the raised guidance, a potential accretive acquisition by Allergan and the possibility that it will be acquired make such an increase in the multiple "quite possible," Biegelsen contended. He kept an Outperform rating on the stock. WHAT'S NOTABLE: Allergan has reportedly held advanced talks about acquiring another company in the sector, Salix (SLXP), although CNBC's David Faber on October 2 reported that the talks between the two companies about a merger had "cooled considerably." PRICE ACTION: In late morning trading, Allergan rose fractionally to $191.06 while Valeant slid 1.5% to $124.08.
10:13 EDTTSLATesla volatility increases into announcement
Tesla October weekly call option implied volatility is at 76, October is at 42, November is at 51, December is at 42; compared to its 26-week average of 46 according to Track Data, suggesting large near term price movement into an announcement scheduled for today.
10:00 EDTAGNOn The Fly: Analyst Initiation Summary
Subscribe for More Information
09:23 EDTYUMYum! Brands China business still poised to recover, says RBC Capital
Subscribe for More Information
09:13 EDTGPROGoPro Q3 appears in-line, Q4 has potential upside, says Cleveland Research
Cleveland Research said Q3 demand appears in-line and initial Q4 work indicates potential Q4 upside to the firm's estimates. The analyst's work suggests growth in unit volumes, potential margin leverage, and improving mix. Additionally, Cleveland believes expanded in-store presence is limiting competitive impact. Shares are Buy rated.
09:06 EDTHASDiscovery obtains exclusive TV rights to Hasbro film
Discovery's (DISCA) Family Channel - formerly Hub Network - has obtained the exclusive broadcast rights to Hasbro's (HAS) animated film "My Little Pony Equestria Girls: Rainbow Rocks" to air on October 17.
08:50 EDTAGN, VRXAllergan shares have further upside, says Wells Fargo
Subscribe for More Information
07:36 EDTHALHalliburton October volatility increases into Q3 and outlook
Subscribe for More Information
06:55 EDTEMCAnalyst says PC company likely to get much of HP debt, Re/code reports
Subscribe for More Information
06:49 EDTAGNAllergan cites momentum from robust growth of worldwide markets
The company also cites increases in market share in most categories, many regulatory approvals for new products in the U.S. and internationally, and targeted investments to create and grow new products and new categories. Exceptional growth in EPS from the acceleration in sales but also in leveraging of sales and marketing expenditures. The benefits from Allerganís previously announced restructuring program will be reflected in the Companyís actual results beginning in the fourth quarter of 2014 and continuing through 2015.
06:48 EDTTSLATesla added to U.S. Focus List at Credit Suisse
Subscribe for More Information
06:47 EDTAGNAllergan sees FY16 non-GAAP EPS $10.25
06:47 EDTAGNAllergan sees FY15 non-GAAP EPS $8.60, consensus $8.25
Subscribe for More Information
06:47 EDTAGNAllergan sees FY14 non-GAAP EPS $6.20-$6.25, consensus $5.81
Subscribe for More Information
06:46 EDTAGNAllergan raises Q3 EPS to $1.76-$1.78 from $1.44-$1.47, consensus $1.48
Expects Q3 product net sales to increase in excess of 17% in dollars compared to product net sales from 3Q13.
1 | 2 | 3 | 4 | 5 | 6 | 7 | 8 | 9 | 10 | 11 | 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