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Stock Market & Financial Investment News

News Breaks
December 18, 2012
12:28 EDTARB, NLSN, SWHC, RGR, GALE, GTATOn The Fly: Midday Wrap
Stocks on Wall Street were markedly higher at midday as optimism surrounding the fiscal cliff negotiations continues to spur buying. Investors have been paying less attention to recent economic reports to focus instead on the fiscal cliff, as demonstrated by the NAHB Housing Market index prompting little reaction, despite its highest reading since April 2006. The averages moved to session highs following comments from both sides of Washington's negotiating table that they hope a deal can still be reached... ECONOMIC EVENTS: In the U.S., the National Association of Home Builders index of builder confidence increased to 47, as was forecast. Also, the current-account deficit in the U.S. narrowed in the third quarter to $107.5B from a $118.1B shortfall in the prior quarter. Economists expected the deficit would narrow to about $103B... COMPANY NEWS: Gunmakers Smith & Wesson (SWHC) and Sturm, Ruger (RGR) continued their recent weakness as a Wall Street Journal cover story highlighted some of the ways American companies are distancing themselves from guns and their makers amid a public outcry in the aftermath of last week's tragedy in Connecticut. Among the recent developments underscored was the decision from private equity firm Cerberus Capital Management to put gunmaker Freedom Group up for sale... MAJOR MOVERS: Among the notable gainers was Arbitron (ARB), up over 23% after agreeing to be bought by Nielsen (NLSN) for $48 per share in cash. Shares of acquirer Nielsen also rose about 3%. Among the noteworthy losers was Galena Biopharma (GALE), down 17% after it sold common stock and warrants to purchase additional shares in a public offering. Also lower was GT Advanced Technologies (GTAT), which was downgraded at Raymond James and Stifel Nicolaus and saw its shares slide more than 12% after issuing guidance well below Street expectations... INDICES: Near noon, the Dow was up 83.20, or 0.63%, to 13,318.59; the Nasdaq was up 33.89, or 1.13%, to 3,044.49; and the S&P 500 was up 11.60, or 0.81%, to 1,441.96.
News For ARB;NLSN;SWHC;RGR;GALE;GTAT From The Last 14 Days
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October 10, 2014
09:00 EDTGTATOn The Fly: Pre-market Movers
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08:56 EDTNLSNNielsen upgraded to Buy from Hold at Pivotal Research
07:08 EDTGTATApple given at least 3 days to block info in GT bankruptcy case, Reuters says
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October 9, 2014
18:47 EDTGTATOn The Fly: After Hours Movers
UP AFTER EARNINGS: Helen of Troy (HELE), up 3%... Barracuda Networks (CUDA), up marginally after reporting second quarter results. ALSO HIGHER: Sucampo Pharmaceuticals (SCMP), up 19.2% after announcing settlement agreement resolving patent litigation on AMITIZA... Civeo (CVEO), up 15% after Greenlight Capital reported a 9.99% stake in the company... EXCO Resources (XCO), up 10.6% after T. Boone Pickens says that company approached by buyers, reported by Bloomberg... EXACT Sciences (EXAS), up 3.7% after announcing final national coverage determination for Cologuard... US Ecology (ECOL), up 2.5% following announcement that it will replace Measurement Specialties (MEAS) in S&P 600. DOWN AFTER EARNINGS: Procera Networks (PKT), down 19.3%... Sizmek (SZMK), down 13.9% following third quarter revenue guidance... VOXX International (VOXX), down 12.5%... Knowles (KN), down 8.1% after lowering third quarter guidance... Microchip (MCHP), down 8.2% after lowering second quarter guidance... Juniper Networks (JNPR), down 3.6% after lowering third quarter outlook. ALSO LOWER: GT Advanced Technologies (GTAT), down 23.3% following a Bloomberg report that it will as to wind down sapphire operations.
18:32 EDTGTATGT Advanced to ask to wind down sapphire operations, Bloomberg reports
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12:50 EDTNLSNRentrak advances after making deal with leading ad agency
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12:37 EDTGTATGT Advanced argues to keep bankruptcy explanation documents sealed, Reuters says
GT Advanced argued on Thursday that it could not reveal the details of why it filed for bankruptcy, and that the court should keep the documents that explain why GT Advanced went bankrupt sealed, due to confidentiality agreements, Reuters reports. Reference Link
10:31 EDTNLSNRentrak deal with WPP transformational, says Brean Capital
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October 8, 2014
11:45 EDTGTATApple 'surprised' by GT Advanced's Chapter 11 filing, WSJ reports
Apple (AAPL) says it was "surprised" by GT Advanced's (GTAT) Chapter 11 bankruptcy filing on Monday, the Wall Street Journal reports. Apple says it is focused on preserving jobs in Arizona and will continue to work with state and local officials "as we consider our next steps." GT Advanced is a partner for Apple's sapphire initiative. Reference Link
07:09 EDTGALEGalena reports Notice of Allowance of U.S. patent application for NeuVax
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05:45 EDTGTATStocks with implied volatility movement; GTAT SNSS
Stocks with implied volatility movement; GT Advanced (GTAT) 403, Sunesis (SNSS) 164 according to iVolatility.
October 7, 2014
17:19 EDTGTATGT Advanced bankruptcy hearing scheduled for Thursday, Reuters reports
GT Advanced's first Chapter 11 bankruptcy court hearing is scheduled for Thursday at 10 a.m., Reuters says, citing a clerk in the U.S. bankruptcy court in Manchester, New Hampshire. At the hearing, the company will detail the events that led to Monday's bankruptcy filing, Reuters added. Reference Link
16:19 EDTGTATOn The Fly: Closing Wrap
Stocks on Wall Street opened in negative territory and remained there for the entire session. A weak industrial production report out of Germany and the IMF's lowering of its global growth forecast filled the news void left by another relatively light day on the domestic economic calendar. The volume was heavy and the selling was broad based, with each of the major equity indexes losing more than 1.5%. ECONOMIC EVENTS: In the U.S., the Job Openings and Labor Turnover Survey, or JOLTs report, showed job openings surged 230K to 4.835M in August, marking their highest level since January 2001. Consumer credit rose only $13.5B in August, missing expectations for an increase in credit of $20B. In Europe, German industrial production dropped 4% sequentially in August on an adjusted basis, which was a steeper slide than economists forecast and its biggest decline since January 2009. Also of note, the International Monetary Fund cut its global economic growth forecasts for the third time this year. The growth forecast for 2014 was trimmed to 3.3% from a July forecast of 3.4%, while the 2015 projection was lowered to 3.8% from 4.0% previously. COMPANY NEWS: AGCO (AGCO) fell $4.97, or 10.55%, to $42.13 after the company lowered its third quarter view and cut its fiscal year 2014 earnings per share outlook for a second time after previously lowering it in July. The stock, along with several others in the U.S. machinery industry, were downgraded today at Bank of America Merrill Lynch. Merrill also downgraded Deere (DE) to Underperform from Neutral this morning, citing the collapse in corn and soybean pricing and the strengthening U.S. dollar, and its shares also declined $2.83, or 3.42%, to $80.01. MAJOR MOVERS: Among the notable gainers was GT Advanced (GTAT), which rebounded 41c, or 51.25%, to $1.21 following its sharp, 93% decline yesterday after its unexpected bankruptcy filing. Today's recovery, however, still leaves the stock far below the $11 per share level where it began yesterday's trading session. Also higher was CalAmp (CAMP) which rose $3.47, or 21.03%, to $19.97 and was upgraded to Outperform at Macquarie after the wireless technology solutions maker's Q2 report. Among the noteworthy losers was SodaStream (SODA), which sunk $6.05, or 21.94%, to $21.52 after the home beverage carbonation system maker warned that revenue for its third quarter will come in well below Wall Street estimates. Also lower were shares of The Container Store Group (TCS), which dropped $5.45, or 24.9%, to $16.44 after the company lowered its fiscal 2014 outlook. The decline sent the stock below the $18.00 level, where its initial public offering priced last November. INDEXES: The Dow dropped 272.52, or 1.6%, to 16,719.39, the Nasdaq fell 69.60, or 1.56%, to 4,385.20, and the S&P 500 declined 29.73, or 1.51%, to 1,935.09.
14:46 EDTGTATApple supplier GT Advanced recovers some of yesterday's losses
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14:00 EDTGTATGT Advanced sapphire not used for iPhones because 'proved brittle,' WSJ says
Apple's (AAPL) decision to choose glass screens over GT Advanced's (GTAT) sapphire screens for the iPhone 6 was because of "tests in which the synthetic sapphire proved brittle, cracking when phones were dropped from various heights and angles," The Wall Street Journal reported last night, citing people familiar with the matter. Apple's decision to withhold GT Advanced's expected $139M payment was the tipping point for GT Advanced to declare bankruptcy, people familiar with the matter added. Reference Link
10:33 EDTGTATGT Advanced mentioned positively in a Seeking Alpha blog
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10:29 EDTGTATGT Advanced lists Apple, Airgas, GrafTech, Ultra Clean among top 30 creditors
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10:14 EDTGTATRubicon strength attributed to smartwatch speculation
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09:34 EDTGTATSunEdison weakness a buying opportunity, says at Morgan Stanley
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05:49 EDTGTATStocks with implied volatility movement; GTAT EWZ
Stocks with implied volatility movement; GT Advanced (GTAT) 267, MSCI Brazil Index (EWZ) 64 according to iVolatility.
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