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Stock Market & Financial Investment News

News Breaks
January 17, 2014
12:37 EDTAOL, GCI, TRBAAGannett shopped Patch to Gannett before Hale deal, Fox Business News says
Before reaching a deal with Hale Global on its Patch business, AOL (AOL) shopped Patch to Gannett (GCI), Tribune (TRBAA) and others, sources tell Fox Business News reports. People with direct knowledge of the situation say that even though AOL was eager to offload Patch, negotiations were moving slowly, and the media companies were "skeptical about Patch's ability to eventually turn a profit". Reference Link
News For AOL;GCI;TRBAA From The Last 14 Days
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August 15, 2014
18:14 EDTGCIIcahn's recent stake in Gannett should reassure investors, Barron's reports
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12:39 EDTAOLOn The Fly: Midday Wrap
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11:45 EDTGCI, AOLVringo confirms adverse ruling in patent suit with Google, others
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11:15 EDTAOL, GCIVringo falls after patent win against Google, AOL reversed on appeal
The U.S. Court of Appeals for the Federal Circuit that patents claims asserted by I/P Engine, a unit of Vringo (VRNG), are invalid for obviousness and reversed a lower court's ruling in the company's favor. The patents were asserted in a suit against Google (GOOG) and Aol (AOL), IAC Interactive (IACI) and Gannett (GCI). Vringo shares dropped nearly 11% following the posting of the appeal court ruling. Reference Link
09:10 EDTGCIOn The Fly: Pre-market Movers
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August 14, 2014
17:32 EDTGCIIcahn Associates gives quarterly update on stakes
NEW STAKES: Gannett (GCI). INCREASED STAKES: Navistar (NAV), eBay (EBAY), and Icahn Enterprises (IEP). DECREASED STAKES: Netflix (NFLX). LIQUIDATED STAKES: Forest Laboratories (FRX).
17:26 EDTGCIGannett up 6% after Icahn reports 6.63% stake, urges split
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17:25 EDTGCIIcahn reports 6.63% stake in Gannett, plans talks on potential split of company
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17:16 EDTGCIIcahn reports 6.63% stake in Gannett, urges split of company
August 12, 2014
16:02 EDTAOLAOL files $300M in convertible senior notes due 2019 in private offering
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August 11, 2014
10:03 EDTTRBAACBS, Tribune renew existing affiliation agreements
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August 10, 2014
18:36 EDTGCITake profits in Gannett, Barron's says
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August 8, 2014
17:10 EDTGCIMarket finishes week up slightly as earnings offset by political events
Stocks finished the week fractionally higher than where they started as strong corporate earnings reports and better than expected economic data was weighed against concerns about geopolitical issues and negative M&A news. MACRO NEWS: A few ongoing geopolitical conflicts worried investors and weighed on shares. Russia unveiled sanctions against Western countries, banning the import of a wide range of food items from the U.S, the EU and a few allied countries in response to sanctions recently enacted against it from G7 nations... President Obama authorized the bombing of rebels in Iraq and Hamas and Israel failed to reach a permanent truce... An ISM services index, the U.S. trade deficit for June, and weekly jobless claims were all better than expected. Meanwhile, the increase in unit labor costs last quarter came in below the consensus outlook, perhaps easing fears that the Fed will need to raise interest rates sooner than expected. COMPANY NEWS: On the M&A front, two huge potential deals fell through as 21st Century Fox (FOX, FOXA) withdrew its offer to acquire Time Warner (TWX) and Sprint (S) reportedly decided to end its pursuit of a merger with peer T-Mobile (TMUS)... President Obama indicated that his administration would take unilateral steps in an effort to prevent companies from carrying out tax inversion acquisitions. Among the deals or possible transactions that involve inversion are Medtronic's (MDT) acquisition of Covidien (COV), Valeant's (VRX) proposed takeover of Allergan (AGN) and Mylan's (MYL) acquisition of Abbott's (ABT) developed markets branded generics pharmaceuticals business. Meanwhile, Walgreen's (WAG) stock tumbled after the U.S. company said it would not structure its takeover of European drugstore chain Alliance Boots as a tax inversion deal... 21st Century Fox, 3D printer maker Stratasys (SSYS), chip maker NVIDIA (NVDA), brewer Molson Coors (TAP), and luxury accessories maker Coach (COH) all rose following their earnings reports. Conversely, Target (TGT), luxury accessories maker Michael Kors (KORS) and Internet coupon provider Groupon (GRPN) fell following their results or guidance... Gannett (GCI) struck a deal to acquire the remaining 73% interest in Classified Ventures, whose primary asset is the online car shopping website Cars.com, for $1.8B from the other partners in the venture, which include McClatchy (MNI), Tribune Media (TRBAA), Graham Holdings (GHC) and A. H. Belo (AHC). Gannett also announced plans to spin-off its Publishing business, which includes USA Today, through a tax-free distribution to shareholders... McDonald's (MCD) stock was little changed after the company reported that its comparable store sales fell 2.5% in July, which was significantly worse than expected. Food quality issues weighed on the fast food company's sales in Asia and as a result of the China supplier issue, the company warned its previously issued global comparable sales forecast for 2014 is now at risk. INDEXES: The Dow finished the week up 0.35% to 16,553.93, the S&P 500 rose 0.32% to 1,931.59, and the Nasdaq gained 0.41% to 4,370.90.
August 7, 2014
10:00 EDTAOLOn The Fly: Analyst Upgrade Summary
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06:43 EDTAOLAOL upgraded to Buy from Hold at Cantor
Cantor Fitzgerald upgraded its rating on AOL (AOL) shares to Buy citing improving fundamentals following the company's Q2 results. Cantor sees a growing multi-platform user base and a bigger buyback driving shares higher and upped its price target for AOL to $50 from $47 . Shares of AOL closed yesterday up $2.92 to $41.92 after reporting Q2 results.
August 6, 2014
09:13 EDTAOLOn The Fly: Pre-market Movers
HIGHER: Fox class A shares (FOXA), up 5.9% after withdrawing proposal to acquire Time Warner (TWX), announcing $6B share repurchase program, reporting quarterly results... MannKind (MNKD), up 1.6% after entering a supply agreement with Amphastar Pharmaceuticals (AMPH)... Criteo (CRTO), up 11.5% after upgraded at Goldman following its better than expected Q2 earnings report. LOWER: Time Warner (TWX), down 13% after earnings, maintaining guidance, bid dropped by Fox... Sprint (S), down 16.5% after naming Marcelo Claure as president and CEO, reportedly dropping pursuit of T-Mobile (TMUS). T-Mobile shares also down 8.5%... Groupon (GRPN), down 18%, downgraded at Wunderlich after the company reported lower than expected Q3 results... Walgreen (WAG), down 15.7% after exercises option to acquire remaining 55% of Alliance Boots, says it will not pursue inversion as part of deal... Shire (SHPG), down 6% after Walgreen announced it would stay located in Chicago and Bloomberg last night reported that the Treasury Department is exploring ways to bypass Congress in an attempt to curb corporate inversions... Cytori Therapeutics (CYTX), down 33% after announcing that it has placed enrollment in the ATHENA and ATHENA II trials on clinical hold. UP AFTER EARNINGS: Enphase Energy (ENPH), up 20%... AOL (AOL), up 5%. DOWN AFTER EARNINGS: Nu Skin (NUS), down 8.5%... Rocket Fuel (FUEL), down 27%... Cognizant (CTSH), down 13%... First Solar (FSLR), down 2.5%... Globus Medical (GMED), down 17%.
07:03 EDTAOLAOL said board authorized $150M share repurchase program on July 28
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07:03 EDTAOLAOL reports Q2 EPS 34c, consensus 44c
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