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Stock Market & Financial Investment News

News Breaks
May 28, 2014
16:24 EDTDDD, SYK, AGN, DSW, TWTR, SNN, VRXOn The Fly: Closing Wrap
Stocks on Wall Street finished lower following a session that began in quiet fashion and remained that way throughout the day. The volume was light, the trading range was tight, and the news flow failed to produce a catalyst that brought buyers into the fray. The S&P 500 touched an all-time high during the session, but was unable to hold onto its narrow gains into the close. Investors will have a busier economic calendar to look forward to tomorrow, which will include the first quarter annualized GDP numbers, weekly jobless claims data, a personal consumption reading, and energy inventory reports. ECONOMIC EVENTS: In the U.S., no major economic data was released. In Europe, a measure of business confidence In the euro area increased to 0.37 in May from 0.28 in April. COMPANY NEWS: Shares of Allergan (AGN) fell $8.90, or 5.39%, to $156.12 after Valeant Pharmaceuticals (VRX) raised the cash portion of its takeover bid by $10 to $58.30, along with 0.83 of a Valeant share and a new contingent value right, or CVR, related to DARPin sales which would provide up to approximately $25.00 per share of additional value. Wells Fargo calculated that, based on Valeant's closing price yesterday, the total new offer for Allergan is around $166 per share, which the firm believes may still be insufficient for Allergan. Following the new bid, which Allergan said it will "carefully review and consider," Valeant shares slid $3.00, or 2.31%, to $126.95. MAJOR MOVERS: Among the notable gainers was Twitter (TWTR), which climbed $3.26, or 10.69%, to $33.77 after Japanese bank Nomura upgraded the stock to Buy from Neutral in a note to investors. Also higher was Stryker (SYK), which rose $2.28, or 2.84%, to $82.64 after Financial Times reported this morning that the company was preparing a takeover bid for its U.K-based rival Smith & Nephew (SNN) and Stryker's CEO reportedly confirmed in an interview that the company was in the early stages of evaluating a potential acquisition of its peer. However, Stryker, at the urging of a British regulator, said it does not intend to make an offer for Smith & Nephew at this time, but reserved the right to make a future bid. Smith & Nephew shares trading in New York advanced $2.71, or 3.37% to $83.05. Among the noteworthy losers was shoe retailer DSW (DSW), which fell $8.90, or 27.37%, to $23.62 and was downgraded at Sterne Agee and Citigroup after its quarter report and yearly profit outlook disappointed. Also lower was 3D Systems (DDD), which slipped $6.20, or 10.95%, to $50.44 after announcing a secondary offering of about 6 million shares. INDEXES: The Dow fell 42.32, or 0.25%, to 16,633.18, the Nasdaq dropped 11.99, or 0.28%, to 4,225.08, and the S&P 500 declined 2.13, or 0.11%, to 1,909.78.
News For AGN;VRX;TWTR;SYK;SNN;DSW;DDD From The Last 14 Days
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March 18, 2015
15:34 EDTTWTRTwitter calls active on speculation of an activist investor stake
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15:28 EDTTWTRRumor: Twitter moves higher on speculation of an activist investor stake
09:36 EDTTWTRActive equity options trading on open
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06:04 EDTTWTRTwitter implied volatility of 37 at lower end of index mean range
05:45 EDTVRXSalix downgraded to Hold from Buy at Jefferies
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March 17, 2015
16:00 EDTTWTROptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
14:10 EDTVRXIGI Laboratories recent sell-off a buying opportunity, says Craig-Hallum
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10:00 EDTTWTROn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Aimco (AIV) initiated with an Outperform at RW Baird... Alnylam (ALNY) initiated with a Buy at Janney Capital... American Campus (ACC) initiated with a Neutral at RW Baird... AvalonBay (AVB) initiated with a Neutral at RW Baird... BE Aerospace (BEAV) initiated with a Buy at CRT Capital... BlackRock (BLK) initiated with a Buy at Argus... Camden Property (CPT) initiated with an Outperform at RW Baird... CarMax (KMX) initiated with a Buy at Evercore ISI... Central Pacific (CPF) initiated with a Neutral at Macquarie... Cognex (CGNX) initiated with a Buy at Northcoast... Education Realty (EDR) initiated with a Neutral at RW Baird... EnerSys (ENS) initiated with an Overweight at Stephens... Equity Lifestyle (ELS) initiated with an Outperform at RW Baird... Equity Residential (EQR) initiated with a Neutral at RW Baird... Essex Property Trust (ESS) initiated with a Neutral at RW Baird... Facebook (FB) initiated with a Buy at Brean Capital... Intercept (ICPT) initiated with a Hold at MLV & Co.... Isis Pharmaceuticals (ISIS) initiated with a Neutral at Janney Capital... LinkedIn (LNKD) initiated with a Sell at Brean Capital... Mid-America Apartment (MAA) initiated with an Outperform at RW Baird... NetSuite (N) initiated with a Hold at Brean Capital... Paycom (PAYC) initiated with a Buy at Brean Capital... Platform Specialty Products (PAH) initiated with a Buy at UBS... Post Properties (PPS) initiated with a Neutral at RW Baird... Salesforce.com (CRM) initiated with a Hold at Brean Capital... ServiceNow (NOW) initiated with a Buy at Brean Capital... Snap-On (SNA) initiated with a Buy at Northcoast... Sun Communities (SUI) initiated with a Neutral at RW Baird... Twitter (TWTR) initiated with a Buy at Brean Capital... UDR, Inc. (UDR) initiated with an Outperform at RW Baird... Workday (WDAY) initiated with a Hold at Brean Capital... Xplore Technologies (XPLR) initiated with a Buy at Roth Capital... Yahoo (YHOO) initiated with a Hold at Argus.
09:34 EDTTWTRActive equity options trading on open
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09:25 EDTDSWOn The Fly: Pre-market Movers
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09:13 EDTAGNActavis says Allergan CEO not joining combined company board
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09:01 EDTVRXValeant 7.29M share Spot Secondary priced at $199.00
Deutsche Bank acted as sole book running manager for the offering.
08:58 EDTAGNActavis sees double digit accretion to adjusted EPS within first 12 months
08:58 EDTAGNActavis says will 'immediately begin implementing' integration plans
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08:57 EDTAGNActavis completes acquisition of Allergan
Actavis plc (ACT) announced that it has completed the acquisition of Allergan (AGN) in a cash and equity transaction valued at approximately $70.5B. The combination creates one of the world’s top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23B anticipated in 2015. Actavis continues to expect the transaction to generate double-digit accretion to non-GAAP earnings within the first 12 months, including approximately $1.8B in operating and financial synergies to be realized within one year following the close. These synergies exclude any additional revenue or manufacturing synergies, and are in addition to the $475M of annual savings previously announced by Allergan in connection with Project Endurance. Actavis further expects to generate strong operating cash flow in excess of $8B in 2016, which would enable the company to rapidly de-lever the balance sheet.
08:56 EDTAGNActavis completes Allergan acquisition valued at $70.5B
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07:03 EDTDSWDSW sees FY15 EPS $1.80-$1.90, consensus $1.90
Sees FY15 revenue growth of 7%-8%, consensus $2.64B. Sees FY15 comparable sales growth in low to mid-single digit range. The company expects to open 35 new stores, including 8-10 small format stores. Sees FY15 tax rate of 39%.
07:02 EDTDSWDSW board increased quarterly dividend to 20c from 18.75c
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07:01 EDTDSWDSW reports Q4 comparable sales up 7.6%
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07:01 EDTDSWDSW reports Q4 adjusted EPS 35c, consensus 28c
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