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Stock Market & Financial Investment News

News Breaks
April 27, 2012
Stocks on Wall Street were higher at midday, in spite of Spain's ratings being cut by S&P and a U.S. GDP reading that disappointed. Each of the major indices is higher, with the Nasdaq the leader. The averages have moved in a narrow range since the open as market participants digest all the earnings and economic news that was delivered this week. Earnings have come in better than expected, which has led the averages to rebound and stand ready for a positive close for the week. The economic data remains mixed, as housing and labor continue to limp along but consumer confidence is showing an uptick. For now earnings have trumped macro data, leading to a move higher for equities... ECONOMIC EVENTS: In the U.S., gross domestic product reportedly grew at an annual rate of 2.2% in the first quarter, versus an expected increase of 2.5%. Personal consumption increased 2.9%, versus expectations for an increase of 2.3%. The University of Michigan Consumer Confidence report had a reading of 76.4, versus the expected 75.7. Regarding Europe, S&P cut its credit rating on Spain to BBB+ from A and said its long-term outlook is negative... COMPANY NEWS: (AMZN), Ford (F) and Starbucks (SBUX) all exceeded expectations on the top and bottom lines, but only Amazon was rewarded by investors. Shares of the internet giant advanced more than 14% on the heels of upgrades from Goldman, Merrill Lynch, Nomura and Sun Trust on its strong results... The three Dow components reporting earnings, Chevron (CVX), Merck (MRK) and Procter & Gamble (PG), all declined in spite of the fact that each beat consensus earnings expectations. P&G was the Dow's worst performer, sliding 3.5%, after lowering its outlook for next quarter... Among the many other companies reporting earnings, advancers included Expedia (EXPE), Cray (CRAY) and Cerner (CERN); decliners included Maxwell (MXWL), Silicon Motion (SIMO) and Coventry Health (CVH)... MAJOR MOVERS: Among the notable gainers were Jazz Pharmaceuticals (JAZZ), up over 15%, after announcing plans to acquire EUSA Pharma for $650M, and Warner Chilcott (WCRX), up 9%, after the Times of London said that Bayer (BAYRY) may offer $32 per share for the company. Noteworthy losers included Allscripts (MDRX), down 41%, following downgrades by at least eight firms after its earnings and guidance severely missed consensus and the company reported the ouster of its board chairman, three other board members and its CFO, and Deckers Outdoor (DECK), down more than 25%, after lowering its full year sales and profit outlook... INDICES: Near noon, the Dow was up 30.92, or 0.23%, to 13,235.54; the Nasdaq was up 14.12, or 0.46%, to 3,064.73; and the S&P 500 was up 2.31, or 0.17%, to 1,402.29.
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February 12, 2015
15:17 EDTEXPEExpedia price target raised to $105 from $98 at Ascendiant
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14:48 EDTEXPEExpedia deal positive if approval secured, says Cantor
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12:43 EDTEXPEOn The Fly: Midday Wrap
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11:30 EDTFFord to produce 2016 GT in Ontario, Reuters says
Ford will build its GT carbon fiber supercar at a plant in Markham, Ontario in partnership with Multimatic, reports Reuters, citing announcements at the Canadian International Auto Show. Ford plans a 2016 launch for the vehicle. Reference Link
11:13 EDTEXPEExpedia paid 'resonable' price for Orbitz, says Piper Jaffray
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10:54 EDTEXPEOnline travel stocks rise after Expedia buys Orbtiz, TripAdvisor revenue beat
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09:58 EDTEXPEExpedia gaps up on Orbitz acquisition, levels to watch
The stock was last at $87.04, up over 11% from yesterday's close. The move up puts the shares back over the top of its 50-day moving average at $86.22, now support. The run higher has also closed the bearish gap down from earnings of last week. At current price next resistance is at $88.53, the session high, and then at $89.56.
09:35 EDTEXPEOrbitz says no longer giving FY15 guidance, citing Expedia transaction
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09:33 EDTEXPEOrbitz reports Q4 EPS 6c, consensus 7c
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09:22 EDTEXPEOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tripadvisor (TRIP), up 13.5%... Cisco Systems (CSCO), up 7.2%... FireEye (FEYE), up 7.7%... GNC (GNC), up 4.8%... NVIDIA (NVDA), up 5.5%... Whole Foods (WFM), up 2.5%. ALSO HIGHER: Orbitz Worldwide (OWW), up 21.6% after agreeing to be acquired by Expedia (EXPE). Expedia is up 11%... Ballard Power (BLDP), up 8.1% after being upgraded to Buy from Hold at Lake Street... Verastem (VSTM), up 4.7% after receiving orphan drug designation from FDA VS-5584 in mesothelioma. DOWN AFTER EARNINGS: Zulily (ZU), down 25.4%... Cabelas (CAB), down 9%... Cheesecake Factory (CAKE), down 5.9%.... Baidu (BIDU), down 4.8%... NetApp (NTAP), down 6.5%... Avon Products (AVP), down 3.6%... Tesla (TSLA), down 8.9%... Kellogg (K), down 5.1%... Amber Road (AMBR), down 16%. ALSO LOWER: Achillion Pharmaceuticals (ACHN), down 4.5% after 12M share Secondary priced at $10.25.
09:13 EDTEXPEExpedia says 'needs some time' after Orbitz deal for added M&A
Expedia says company must remain "measured" and continue to be "pretty conservative" with its balance sheet.
09:03 EDTAMZNAmazon says Sling TV, Fox Sports GO now available on Fire TV
Amazon (AMZN) announced that Fire TVs selection is up 5x since its launch in April, with 2015 best-of-CES Sling TV (DISH) now available for download as well as other popular services and games such as FOX Sports GO (FOXA), TED, WSJ Live, Crossy Road, and Game of Thrones A Telltale Games Series.
08:48 EDTEXPEExpedia says early $75M synergies view a 'combination of a bunch of things'
Says synergies view a blend of revenue and some cost synergies.
08:44 EDTEXPEExpedia says 'very optimistic' about regulatory approval for Orbitz deal
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08:40 EDTEXPEExpedia says will consider 'opportunistic' use of debt markets
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08:37 EDTJAZZJazz Pharmaceuticals to present data on defibrotide for hepatic VOD
Jazz Pharmaceuticals announced that researchers will present data on the use of defibrotide, an investigational medicine being studied in the U.S. for the treatment of hepatic veno-occlusive disease or VOD, a rare, potentially life-threatening, early complication in patients undergoing hematopoietic stem-cell transplantation therapy. The three presentations include an update from an ongoing treatment investigational new drug study in the U.S., as well as updates from a number needed to treat analysis from a historically controlled pivotal Phase 3 trial in patients undergoing HSCT therapy, and from an international defibrotide compassionate use program. In 2014, Jazz Pharmaceuticals acquired the rights to defibrotide in the U.S. and other markets in North America, South America and Central America. Defibrotide has a Fast Track regulatory path designation in the U.S. for the treatment of severe VOD. The company has initiated a rolling new drug application submission to the FDA for defibrotide for the treatment of severe VOD and anticipates completing the submission in 1H15.
08:18 EDTEXPEOrbitz Worldwide volatility elevated into Expedia buying for $1.3B
Orbitz Worldwide (OWW) overall option implied volatility of 65 compares to its 26-week average of 55 according to Track Data, suggesting large price movement into Expedia (EXPE) purchasing for $12.00 per share in cash.
08:09 EDTEXPEOrbitz jumps 24.6% to $12 after agreeing to be acquired by Expedia
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08:07 EDTEXPEExpedia to acquire Orbitz for $12 per share in cash
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08:06 EDTEXPEExpedia to acquire Orbitz for $12 per share in cash
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