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Stock Market & Financial Investment News

News Breaks
November 6, 2012
12:10 EDTSREV, NYX, ODP, WTW, CVC, AOL, ESRX, ENOC, OMXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as Americans headed to the polls. Stock futures improved during the premarket trading session, leading to a slightly higher open for the broader market. The averages slowly gained upside momentum and eventually punched through for their best gains in a couple of weeks. The domestic economic calendar was quiet and investors may be factoring an end to the presidential election process, along with hope that political leaders will get back to work on the countryís problems, as the catalyst for the buying... ECONOMIC EVENTS: In the U.S., the Job Openings and Labor Turnover survey, or JOLTs report, showed job openings fell 100K to 3.56M in September from 3.66M in August. In Europe, a report showed that the shared currency area's business activity shrank in October at its steepest rate in over three years. In Germany in particular, which is the region's biggest economy, the composite services and manufacturing purchasing managers index came in at 48.4, below the consensus forecast of 49.3, and factory orders for the month of September were weaker than expected as well... COMPANY NEWS: Among companies reporting earning last night and this morning, AOL (AOL), Office Depot (ODP) and OfficeMax (OMX) advanced, while Cablevision (CVC) and NYSE Euronext (NYX) declined... MAJOR MOVERS: Among the notable gainers were EnerNOC (ENOC), up 21% following price target raises at RW Baird and Needham after its Q3 results, and Weight Watchers (WTW), up over 16% after its quarterly earnings beat expectations. Among the noteworthy losers was ServiceSource (SREV), down 35% amid at least three downgrades after the company lowered its revenue growth view for the upcoming quarter and the fiscal year. Also lower were shares of Express Scripts (ESRX), down 13% after saying that it views current consensus estimates for 2013 as "overly aggressive" and disclosing that its Accredo Health unit received a subpoena from the Department of Justice... INDICES: Near noon, the Dow was up 171.63, or 1.31%, to 13,284.07; the Nasdaq was up 21.82, or 0.73%, to 3,021.48; and the S&P 500 was up 14.96, or 1.06%, to 1,432.22.
News For AOL;ODP;OMX;CVC;NYX;ENOC;WTW;SREV;ESRX From The Last 14 Days
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January 28, 2015
06:27 EDTESRXExpress Scripts downgraded to Market Perform from Outperform at FBR Capital
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05:30 EDTAOLAOL downgraded to Market Perform from Outperform at Wells Fargo
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January 27, 2015
12:45 EDTAOLEarnings Preview: Yahoo may announce Alibaba plans with Q4 earnings
Yahoo (YHOO) is expected to report fourth quarter earnings after the market close on Tuesday, January 27 with a conference call scheduled for 5:00 pm ET. Yahoo is a digital media company that provides properties and services such as Yahoo! Search and Yahoo! News. EXPECTATIONS: Analysts are looking for earnings per share of 29c on revenue of $1.19B. The consensus range is 17c-57c for EPS, and $1.16B-$1.22B for revenue, according to First Call. LAST QUARTER: Yahoo reported Q3 EPS 52c against estimates of 30c on revenue ex-tac of $1.09B against estimates of $1.04B. The company reported Q3 GAAP display revenue down 5% to $447M and Q3 AAP search revenue up 4% to $452M. Looking ahead, Yahoo expected Q4 revenue ex-TAC $1.14B-$1.18B, Q4 non-GAAP net income $190M-$230M, and Q4 adjusted EBITDA $340M-$380M. Yahoo also said Tumblr monthly active users exceeds 1B, up 6% vs. last year. In regards to the Alibaba (BABA) sale, Yahoo expected taxes of $3.3B in Q1. NEWS: In the past quarter, Starboard and other major Yahoo supporters have voiced their support for a combination with AOL (AOL). In a letter to Yahoo's CEO and board, Starboard also said Yahoo should explore monetization for non-core minority equity investments. In a separate NY Times report, other major unnamed shareholders are collaborating to push for a merger with AOL. The Associated Press also reported that Yahoo may announce its plans for Alibaba during its Q4 earnings report. The report noted that investors hope CEO Marissa Mayer will spin off the $37B stake to ease potential taxes. Yahoo has also been rumored to be in talks to acquire a cable network. Re/code's Kara Swisher, however, said Yahoo is not buying CNN and Variety reported Yahoo has not held talks to buy Food Network from Scripps (SNI). During a Credit Suisse Technology Conference in December, Yahoo's CFO said the company's total headcount has been taken down. The company also noted that its PC display business has been challenged, but mobile is growing. IT will continue to invest in Search and is looking at new ways to monetize Flickr. STREET RESEARCH: Ahead of the Q4 earnings, BGC Financial said Yahoo is unlikely to announce a spin-out with earnings. Citigroup meanwhile believes an Alibaba spin-off will likely occur in the second half of 2015 as Yahoo begins to return to focus on its core business. Citi adds that core Yahoo is showing "green shoots "as fast growing mobile revenue become a bigger part of overall results. FBR Capital sees positive risk/reward for Yahoo shares ahead of Q4 earnings, saying expectations are low for core Yahoo business at a time when engagement is improving. PRICE ACTION: Yahoo shares have risen more than 19%, since the first day of trading following the company's Q3 report. In Tuesday afternoon trading ahead of the Q4 report, Yahoo shares are trading up 2.3%.
07:47 EDTAOLAOL Platforms technology president Amir Ashkenazi leaves company, Re/code says
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06:13 EDTAOLAOL shutting down gaming site Joystiq, more closures to follow, Re/code says
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January 26, 2015
07:11 EDTAOLAOL 'drastically' reorganizing advertising sales staff, Re/code reports
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07:01 EDTCVCCablevision announces upcoming launch of WiFi phone service Freewheel
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06:31 EDTCVCCablevision to launch cheap mobile phone service, NY Times says
Cablevision (CVC) intends to unveil later today a cheap, Wi-Fi based mobile phone service, according to The New York Times. The first service of its kind to be introduced by a cable company, the offering will include unlimited data, talking and texting worldwide for $29.95 a month, or $9.95 a month for Cablevisionís Optimum Online customers, the newspaper stated. Incumbent wireless carriers include Verizon (VZ), AT&T (T), T-Mobile (TMUS), and Sprint ()S). Reference Link
January 21, 2015
10:28 EDTESRXLeerink pharmaceuticals analyst holds an analyst/industry conference call
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10:01 EDTESRXOn the Fly: Analyst Initiation Summary
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07:36 EDTESRXExpress Scripts initiated with an Equal Weight at Stephens
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January 20, 2015
13:09 EDTODPSources: Staples to spurn Starboard's call to merge with Office Depot, FT says
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10:47 EDTODPStaples says will consider 'all actions' that would create shareholder value
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10:23 EDTODPStarboard says Staples should explore merger with Office Depot
Starboard Value, one of the largest shareholders of Staples (SPLS), confirmed, as previously reported, that it has delivered a letter to Ronald Sargent, Chairman and CEO of Staples, and the board of directors of Staples. In the letter, Starboard states in part: "As we discussed in our recent meeting, we believe that the best way to maximize value for Staples' shareholders is through exploring and completing a business combination with Office Depot (ODP). For a variety of reasons, we believe that now is the right time to pursue such a transaction, and we urge you to immediately retain a reputable investment bank and legal advisors to assist the Board in evaluating, structuring and executing a transaction with Office Depot. We believe that a strategic combination of Staples and Office Depot would result in synergies that would more than double the operating profits of the combined company and would create an industry-leading office supply retailer that could more effectively compete against larger retailers and online competitors. The magnitude of value creation from such a business combination far exceeds anything that either company could achieve on a standalone basis. We believe that the evidence is clear that shareholders are broadly supportive of a transaction between Staples and Office Depot. As shown in the chart below, since the merger speculation began last September, Staples' share price has risen over 50%, strongly outperforming the S&P 500...After the recent increase in Staples' share price, we believe the stock now trades at a substantial premium to the intrinsic value of the standalone company. This results in a lower cost of capital for Staples and a stronger currency which could be used to acquire Office Depot. If Staples fails to fully explore and consummate a transaction with Office Depot, shareholders will undoubtedly be extremely disappointed...We understand that this will require cooperation from Office Depot, and we have already expressed to them our strong support for a transaction...Our sincere hope is that we can continue to have a constructive dialogue. However, if it becomes clear to us that you have no intention of seriously pursuing this unique and highly attractive opportunity, it would be a clear sign that significant leadership change is needed at Staples."
09:31 EDTODPActivist Starboard urging Staples, Office Depot to merge, WSJ reports
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08:59 EDTODPStarboard urged Staples to explore Office Depot merger, Bloomberg says
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06:44 EDTESRXExpress Scripts downgraded to Neutral from Buy at UBS
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January 15, 2015
07:25 EDTWTWWeight Watchers price target lowered to $20 from $24 at Credit Suisse
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