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Stock Market & Financial Investment News

News Breaks
August 14, 2012
15:03 EDTJDSU, FACE, AMCN, MYGNCompanies reporting After the Market Close on Tuesday, August 14
Notable companies reporting after the bell include Airmedia Group (AMCN), JDS Uniphase (JDSU), Myriad Genetics (MYGN) and Physicians Formula Holdings (FACE).
News For AMCN;JDSU;MYGN;FACE From The Last 14 Days
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June 29, 2015
16:35 EDTAMCNHerman Man Guo reports 16.0% stake in AirMedia
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June 19, 2015
12:49 EDTJDSUOptical networking stocks slide after Finisar results
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12:29 EDTAMCNOn The Fly: Top stock stories at midday
Stocks began the session in quiet fashion and trading has remained that way throughout the morning, despite a lack of a resolution in Greece and a steep slide in China's stock market. The averages spent the morning in negative territory, but the losses have been mild and the indexes have drifted in a narrow range. Of note, today is “quadruple witching,” which can create extra volatility toward the close. ECONOMIC EVENTS: In the U.S., no major data was reported. The latest count of U.S. oil and gas rigs by Baker Hughes is scheduled for 1:00 pm EDT. In Europe, the ECB held a call on the provision of Emergency Liquidity Assistance to Greek banks and agreed to raise the limit on the emergency funding for the second time in a week, though there were contradictory reports about the size of the increase. Next, the eurozone's heads of government will meet for an emergency summit to discuss Greece on Monday. In Asia, China's Shanghai Composite index closed the session down 6.4%, bringing the benchmark's weekly loss to 13.3% and sending the index into correction territory. The Bank of Japan kept interest rates unchanged and maintained its asset purchases program, as expected. The central bank also said it will reduce the number of its Monetary Policy Meetings to 8 per year from the current 14 meetings, putting it on par with other major central banks. COMPANY NEWS: Shares of ConAgra (CAG) advanced over 8.5% after activist investor Jana Partners reported that it has acquired a 7.2% stake in the packaged foods company. Jana suggested that the company should undertake a strategic review of its strategy and corporate structure to determine if its businesses are optimally positioned to succeed, as well as various potential alternative transactions and structures. Credit Suisse raised its price target on ConAgra to $42 from $34 following the announcement of Jana Partners' involvement, but the firm said ConAgra's enormous debt load from the Ralcorp acquisition limits upside potential from an all-out break up and doubts the board would consider this option. Deutsche Bank similarly said that the firm's sense is that the company's board is reluctant to break up the company's parts. Nonetheless, Deutsche laid out its "optimistic" sum-of-the-parts analysis, which yields a $47 potential value for the stock. The firm, however, raised its price target for ConAgra shares to only $38 from $36 and kept a Hold rating on the name. MAJOR MOVERS: Among the notable gainers was AirMedia Group (AMCN), which gained 42% after announcing receipt of non-binding "going private" proposal for a group led by its CEO to acquire all of the outstanding shares of AirMedia for $6.00 in cash per American depositary share. Also higher was KB Home (KBH), which gained nearly 10% after the homebuilder reported better than expected results for its fiscal second quarter. Among the noteworthy losers was Healthways (HWAY), which sunk 22% after the health management solutions provider lowered its revenue outlook for fiscal year 2015. Also lower following a guidance cut was Hershey (HSY), which fell 4%. The chocolate maker cited growth in China that was below expectations for its lowered outlook and also announced the implementation of a new productivity initiative that will result in the reduction of approximately 300 jobs by the end of 2015. INDEXES: Near midday, the Dow was down 54.34, or 0.3%, to 18,061.50, the Nasdaq was down 15.23, or 0.3%, to 5,117.72, and the S&P 500 was down 6.64, or 0.31%, to 2,114.60.
10:19 EDTAMCNHigh option volume stocks
High option volume stocks: FISV SID MTH MDXG BEAV INVE AMCN CAG OVAS MCHP
09:18 EDTAMCNOn The Fly: Pre-market Movers
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07:15 EDTAMCNAirMedia announces receipt of preliminary non-binding 'going private' proposal
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June 15, 2015
10:06 EDTAMCNHigh option volume stocks
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09:22 EDTAMCNOn The Fly: Pre-market Movers
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06:09 EDTAMCNAirMedia agrees to sell 75% interest in advertising business for RMB 2.1B
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