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Stock Market & Financial Investment News

News Breaks
May 9, 2012
10:29 EDTAIG, HSY, VECO, UA, STJ, SMG, MGLN, IQNT, FOSL, EZPW, DOW, DMD, CPE, AFFX, PRTSOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: AIG (AIG) upgraded to Buy from Neutral at Goldman... Affymetrix (AFFX) upgraded to Equal Weight from Underweight at Morgan Stanley... Callon Petroleum (CPE) upgraded to Outperform from Neutral at RW Baird... Demand Media (DMD) upgraded to Buy from Neutral at Citigroup... Dow Chemical (DOW) upgraded to Overweight from Equal Weight at Morgan Stanley... EZCORP (EZPW) upgraded to Neutral from Underperform at Sterne Agee... Fossil (FOSL) upgraded to Buy from Hold at Benchmark Co... Inteliquent (IQNT) upgraded to Outperform from Neutral at RW Baird... Magellan Health (MGLN) upgraded to Buy from Neutral at BofA/Merrill... Scotts Miracle-Gro (SMG) upgraded to Market Perform from Underperform at BMO Capital... St. Jude Medical (STJ) upgraded to Overweight from Equal Weight at Morgan Stanley... Under Armour (UA) upgraded to Buy from Neutral at UBS... Veeco (VECO) upgraded to Overweight from Neutral at Piper Jaffray... Hershey (HSY) upgraded to Buy from Hold at Argus... U.S. Auto Parts (PRTS) upgraded to Buy from Neutral at Roth Capital.
News For AIG;AFFX;CPE;DMD;DOW;EZPW;FOSL;IQNT;MGLN;SMG;STJ;UA;VECO;HSY;PRTS From The Last 14 Days
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July 16, 2014
07:02 EDTAIGAIG announces settlement with BofA on residential mortgage related disputes
American International Group (AIG) announced that it has reached a global resolution of its residential mortgage related disputes with Bank of America (BAC). The resolution includes its claims pending in New York and California federal courts related to the creation, offering, and sale of RMBS from which AIG and its subsidiaries suffered losses either directly on their own account or in connection with their participation in AIG’s securities lending program. The resolution also covers AIG’s objections to the $8.5 billion settlement of Countrywide’s mortgage repurchase obligations to various investors, as well as disputes concerning the issuance of mortgage guaranty insurance by AIG’s United Guaranty subsidiaries to Bank of America and Countrywide. Under the terms of the settlement, AIG will receive $650M in cash plus its pro rata share of whatever amount is ultimately paid out to investors in connection with the Countrywide repurchase settlement. In addition, the parties have agreed, subject to the approval of Fannie Mae, Freddie Mac and certain other mortgage holders, to resolve the outstanding mortgage guaranty claims disputes in accordance with agreed-to claims processes and payment formulae.
07:01 EDTAIGAIG announces settlement with BofA on residential mortgage related disputes
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06:56 EDTHSYHershey downgraded to Neutral from Outperform at Credit Suisse
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06:52 EDTUASamsung may be in partnership talks with Under Armour, Yonhap says
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July 15, 2014
16:06 EDTHSYHershey sees 2014 sales, EPS growth at lower end of long-term range
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16:04 EDTHSYHershey does not expect price increase to impact 2014 results
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16:03 EDTHSYHershey raises wholesale prices across majority of portfolio
Hershey announced an increase in wholesale prices across the majority of its U.S., Puerto Rico and export portfolio. A weighted average price increase of approximately 8% across the company's instant consumable, multi-pack, packaged candy and grocery lines is effective today. "These changes will help offset part of the significant increases in Hershey’s input costs, including raw materials, packaging, fuel, utilities and transportation, which the company expects to incur in the future," Hershey said. “Over the last year key input costs have been volatile and remain at levels that are above historical averages,” said Michele G. Buck, President, North America, The Hershey Company. “Commodity spot prices for ingredients such as cocoa, dairy and nuts have increased meaningfully since the beginning of the year. Given these trends, we expect significant commodity cost increases in 2015. We are a gross margin focused company and remain committed to our consumer-centric business model of bringing insights to retailers that will enable us to grow our business and the category. During the transition period we will support our brands with higher levels of investment, including merchandising, programming, advertising and innovation, that will benefit Hershey and the category."
16:02 EDTHSYHershey sees Q2 adjusted EPS 75c-77c, consensus 76c
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15:19 EDTSTJNotable companies reporting before tomorrow's open
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11:41 EDTSTJSt. Jude Medical technical comments ahead of earnings
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09:03 EDTDMDDemand Media to complete tax-free spin-off of Rightside Group
Demand Media announced that the U.S. Securities and Exchange Commission has declared the Rightside Group Registration Statement on Form 10 effective, and that the board of Demand Media has approved the separation of Rightside from Demand Media in the form of a tax-free dividend involving the distribution of all outstanding shares of Rightside common stock to holders of Demand Media common stock on August 1. Demand Media’s board also determined to implement a reverse stock split of Demand Media’s common stock at a reverse stock split ratio of 1-for-5 immediately following the distribution. Under the terms of the distribution and reverse stock split, Rightside common stock will be distributed on August 1 to Demand Media stockholders of record as of close of business on July 25, the record date for the distribution. Demand Media stockholders will receive one share of Rightside common stock for every five shares of Demand Media common stock held by such holders. Following the distribution, Demand Media will effect a 1-for-5 reverse stock split of its outstanding and treasury shares of common stock. Immediately after the distribution is completed, Rightside will be an independent, publicly traded company, and “regular-way” trading of Rightside’s common stock will begin the first trading day after the completion of the distribution. The Rightside stock will be listed on the NASDAQ under the symbol “NAME.” Rightside will own and operate the domain name services business of Demand Media, and Demand Media will operate as a pure-play Internet-based content and media company. Neither company will have any ownership interest in the other.
08:00 EDTSTJSt. Jude Medical management to meet with Leerink
Meeting to be held in New York on July 22 hosted by Leerink.
July 14, 2014
11:17 EDTDMDDemand Media announces divestiture of Creativebug and CoveritLive
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10:34 EDTDMDAT&T joint venture acquires Creativebug from Demand Media for $10M
Otter Media, a joint venture between AT&T (T) and The Chernin Group, has acquired Creativebug from Demand Media (DMD), the companies announced earlier. Creativebug offers do-it-yourself video workshops featuring instruction from artists and designers. Demand Media confirmed in a regulatory filing earlier that it completed the sale of substantially all of the assets relating to its Creativebug business for $10.0M in cash. AT&T and The Chernin Group announced the formation of the joint venture to acquire, invest in and launch over-the-top video services previously on April 22.
09:05 EDTSTJSt. Jude Medical to acquire NeuroTerm for approximately $200M in cash
St. Jude Medical has signed a definitive agreement to acquire privately held NeuroTherm, a manufacturer of interventional pain management therapies, for approximately $200M in cash. NeuroTherm is involved in the treatment of spinal pain using radiofrequency ablation, a segment of the chronic pain market in which St. Jude Medical does not currently participate. The company expects to complete this transaction by the end of the third quarter, subject to customary closing conditions. NeuroTherm is expected to add approximately $10M-$15M to St. Jude Medical’s 2014 sales. Excluding acquisition-related expenses, this transaction will be neutral to St. Jude Medical’s consolidated EPS in 2014 and accretive thereafter on a GAAP basis.
07:20 EDTDOWControlled Released Society to hold annual meeting
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06:27 EDTHSYLindt & Sprüngli acquires Russell Stover Candies
The Lindt & Sprüngli Group is acquiring the traditional U.S. family business Russell Stover Candies, headquartered in Kansas City, Missouri. Lindt & Sprüngli is financing the acquisition through net cash resources and bank loans and expects the transaction to make a strong positive contribution to the earnings per share from 2015 onwards. It has been agreed not to disclose the purchase price and other contractual details. Other companies that are in the confectionary industry in North America include Hershey (HYS) Rocky Mountain Chocolate (RMCF) and Mondelez (MDLZ). Reference Link
July 10, 2014
10:05 EDTEZPWOn The Fly: Analyst Initiation Summary
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09:01 EDTUAUnder Armour volatility elevated into Q2 and revenue outlook
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July 9, 2014
17:49 EDTEZPWEZCORP initiated with a Neutral at Macquarie
Target $13.
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