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Stock Market & Financial Investment News

News Breaks
February 4, 2013
12:16 EDTBRO, HUM, APKT, CS, CYBX, ORCL, YOKU, GCI, SONSOn The Fly: Midday Wrap
Stocks on Wall Street were sharply lower at midday, with the major averages giving back most or all of Friday's gains. The indices began the session deep in negative territory and remain that way near the lunch hour. There was little on the domestic economic calendar to account for the weakness, but some market participants were attributing the move to profit-taking following a strong start to the year along with political concerns resurfacing in Europe... ECONOMIC EVENTS: In the U.S., the ISM New York area reading of 56.7 was ahead of the expected reading of 53.0. A separate report showed factory orders increased 1.8% in December, versus an expected increase of 2.3%. In Europe, Spanish and Italian government bond yields rose following political developments in both countries. Spain's opposition Socialist Party called on Prime Minister Mariano Rajoy to resign over a corruption scandal, while in Italy former PM Silvio Berlusconi's popularity is seeing a resurgence, which may threaten the reforms implemented by the outgoing government. In Asia, a report over the weekend showed China's non-manufacturing PMI ticked up to 56.2 from 56.1 last month... COMPANY NEWS: Shares of Acme Packet (APKT) surged 22.2% and traded at the $29.25 price it agreed to in a deal to be acquired by Oracle (ORCL). Several companies offering solutions in the same technology area advanced as well, particularly Sonus Networks (SONS), which climbed over 13%. Meanwhile, Oracle slid a bit more than 2% following the deal announcement... Among companies reporting earnings this morning, Humana (HUM) advanced while Gannett (GCI) declined... MAJOR MOVERS: Among the notable gainers was Cyberonics (CYBX), which rallied 8% after a former employee dropped a lawsuit against the company. Also higher were shares of Brown & Brown (BRO), which rose 5.5% after it reported quarterly results after the bell Friday and was upgraded to Outperform at Raymond James this morning. Among the noteworthy losers were Youku Tudou (YOKU), which fell over 6% after Maxim downgraded shares to a Sell rating, and Credit Suisse (CS), down nearly 6% as well following an initiation of coverage with a Hold rating at Canaccord... INDICES: Near noon, the Dow was down 139.75, or 1.00%, to 13,870.04; the Nasdaq was down 41.09, or 1.29%, to 3,138.01; and the S&P 500 was down 15.94, or 1.05%, to 1,497.23.
News For APKT;SONS;ORCL;HUM;GCI;CYBX;BRO;YOKU;CS From The Last 14 Days
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April 21, 2015
13:15 EDTGCIGannett announces TEGNA as name of new Broadcasting and Digital company
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09:02 EDTHUMHumana at Home acquires Your Home Advantage, terms not disclosed
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08:17 EDTGCIGannett reports Q1 Broadcasting segment revenue up 4% to $396.8M
Operating revenues in the Digital Segment increased substantially in the quarter, 85.1%, compared to the first quarter of 2014 and totaled $332.7M. Publishing Segment revenues in the quarter were $768.2M, down 8.8%.
08:16 EDTGCIGannett reports Q1 EPS 49c, consensus 45c
Reports Q1 revenue $1.5B, consensus $1.52B.
05:45 EDTCSCredit Suisse sees momentum to carry over from Q1 into Q2
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05:45 EDTCSCredit Suisse reports Q1 net income CHF 1.05B vs. CHF 859M
Reports Q1 core pre-tax income of CHF 1.54B. Reports Q1 revenue CHF 6.67B vs. CHF 6.47B last year. Reports look-through CET1 ratio of 10% as of the end of Q1.
April 20, 2015
17:13 EDTBROBrown & Brown reports Q1 adjusted EPS 40c, consensus 40c
Reports Q1 revenue $404.3M, consensus $409.39M.
15:37 EDTGCINotable companies reporting before tomorrow's open
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15:37 EDTBRONotable companies reporting after market close
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10:00 EDTYOKUOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 58.com (WUBA) initiated with a Hold at Summit Research... Aduro Biotech (ADRO) initiated with a Buy at Roth Capital... Alibaba (BABA) initiated with a Buy at Summit Research... Baidu (BIDU) initiated with a Buy at Summit Research... Callaway Golf (ELY) initiated with a Buy at Jefferies... Cellectis (CLLS) initiated with a Buy at Jefferies... Changyou.com (CYOU) initiated with a Buy at Summit Research... Cheetah Mobile (CMCM) initiated with a Buy at Summit Research... Ctrip.com (CTRP) initiated with a Hold at Summit Research... Dynegy (DYN) initiated with an Overweight at Morgan Stanley... FMC Corporation (FMC) initiated with a Neutral at Monness Crespi... Franklin Financial Network (FSB) initiated with a Buy at BofA/Merrill... Granite Construction (GVA) initiated with an Outperform at Cowen... Hershey (HSY) initiated with a Reduce at Nomura... JD.com (JD) initiated with a Hold at Summit Research... Jumei (JMEI) initiated with a Buy at Summit Research... McEwen Mining (MUX) initiated with a Buy at H.C. Wainwright... Natural Gas Services (NGS) initiated with a Neutral at Sidoti... New Residential (NRZ) initiated with a Buy at BofA/Merrill... Platform Specialty Products (PAH) initiated with an Outperform at Credit Suisse... Qihoo 360 (QIHU) initiated with a Buy at Summit Research... Qunar (QUNR) initiated with a Buy at Summit Research... SINA (SINA) initiated with a Hold at Summit Research... Smith & Wesson (SWHC) initiated with a Sector Perform at RBC Capital... Sohu.com (SOHU) initiated with a Hold at Summit Research... SolarEdge (SEDG) initiated with a Buy at Deutsche Bank... Splunk (SPLK) initiated with a Buy at Citigroup... Tableau (DATA) initiated with a Neutral at Citigroup... Team Health (TMH) initiated with an Outperform at Leerink... Tuniu (TOUR) initiated with a Buy at Summit Research... Vipshop (VIPS) initiated with a Buy at Summit Research... Vista Outdoor (VSTO) initiated with an Outperform at RBC Capital... Weibo (WB) initiated with a Buy at Summit Research... YY Inc. (YY) initiated with a Buy at Summit Research... Youku Tudou (YOKU) initiated with a Hold at Summit Research... Zhaopin (ZPIN) initiated with a Hold at Summit Research.
05:46 EDTYOKUYouku Tudou initiated with a Hold at Summit Research
Target $16.
April 16, 2015
15:44 EDTORCLCSC holding 'loose' deal talks, not running formal process, dealReporter says
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09:04 EDTGCIGannett announces partnership with ViewLift
Gannett Co. announced an agreement with ViewLift, a full-service provider of custom video applications, to explore development of a new digital sports video service. This new entity will focus on streaming unique sports-related content and select, relevant movies across multiple devices smartphones, tablets, televisions, and PCs.
07:24 EDTBROBrown & Brown shares inexpensive ahead of Q1 results, says SunTrust
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April 15, 2015
10:19 EDTCSOptions with decreasing implied volatility
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06:41 EDTCSECB authorizes new emergency funding for Greek banks, Reuters reports
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April 14, 2015
11:31 EDTCYBXSorin-Cyberonics merger receives US antitrust approval
Sorin S.p.A. and Cyberonics announced that the required waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended, relating to their pending merger, has expired, thereby satisfying one of the conditions required to finalize the merger transaction. As previously announced, Sorin and Cyberonics entered into a merger agreement pursuant to which the two companies will combine in an all-stock transaction. The proposed combination of Sorin and Cyberonics will create a new premier global medical technology company. The transaction, unanimously approved by the boards of directors of both companies, is currently expected to be completed by the end of the third calendar quarter of 2015. The transaction is subject to approval by both Sorin and Cyberonics shareholders, the receipt of required regulatory clearances, and other customary closing conditions.
April 13, 2015
12:42 EDTORCLFly Watch: Wells says ServiceNow likely to unveil upbeat revenue target
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10:58 EDTHUMCigna, Humana seen as potential takeover targets in Managed Care space
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07:33 EDTHUMJefferies sees low probability of WellCare, Centene buyouts
After running several acquisition scenarios for the Managed Care space, Jefferies says potential takeovers of WellCare (WCG) and Centene (CNC) are "hard to justify." The firm estimates acquirers will only be able to generate 1%-3% accretion from buying either company at a 20% premium to current share prices. The deal that makes the most financial sense is Aetna (AET) buying Cigna (CI), Jefferies says today in a note to investors. Also financially attractive would be a buyout of Humana (HUM) by either Anthem (ANTM) or Aetna, the firm adds. After analyzing the Managed Care space, it upgraded this morning shares of UnitedHealth (UNH) to Buy from Hold with a $141 price target. Jefferies also has Buy ratings on Aetna, Anthem, Health Net (HNT) and Molina Healthcare (MOH).
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