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Stock Market & Financial Investment News

News Breaks
May 21, 2014
06:43 EDTBX, ARCPARCP intends to sell shopping center portfolio for $1.98B to Blackstone
News For ARCP;BX From The Last 14 Days
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December 19, 2014
05:49 EDTARCPStocks with implied volatility movement; ARCP LINE
Stocks with implied volatility movement; American Realty (ARCP) 103, LINN Energy (LINE) 112 according to iVolatility.
December 18, 2014
16:26 EDTARCPOn The Fly: Closing Wrap
Stocks began the session sharply higher and remained that way for the entire session. The strength was attributed to investor enthusiasm over statements from the Fed about being patient in their approach to raising interest rates. Over the past couple of weeks the price of oil has often dictated the direction of equities, but that was not the case today as a drop in WTI and Brent crude was not followed by a dip in the equity averages. With year-end approaching, money managers may be chasing performance, but they also may be adjusting portfolio’s ahead of tomorrow’s quadruple witching, when market index futures, market index options, stock options, and stock futures all expire. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 6K to 289K in the week ended December 13, versus expectations for 295K first-time claims. Markit's flash December Services PMI reading came in at 53.6, which was below the consensus 56.3 forecast. The Philadelphia Fed survey of business conditions index drop to 24.5 in December from November's unexpectedly high 40.8 reading, though the steep pullback was in-line with the consensus forecast. The November index of leading economic indicators rose 0.6%, as expected. In Europe, U.K. retail sales including auto fuel increased 1.6% in November, widely topping economists' forecast for a 0.4% gain. Germany's Ifo business climate index advanced to 105.5 in December from 104.7 in the prior month, narrowly topping expectations. COMPANY NEWS: Oracle (ORCL) rallied $4.19, or 10.18%, to $45.35 after the company’s second quarter results surpassed consensus estimates. Analyst commentary was mixed, with research firms Canaccord and FBR Capital raising their price targets on the stock to $50 and $48, respectively, while JPMorgan said it expects consensus estimates for Oracle to be reduced and Oppenheimer said that it thinks the transition to the cloud is increasing pressure on the company's financial model and restraining EPS growth. MAJOR MOVERS: Among the notable gainers was OvaScience (OVAS), which rose $8.26, or 23.63%, to $43.22 after the company said it has achieved its 2014 corporate goals to advance its three fertility treatment options and its stock was upgraded to Outperform at Wedbush. Also higher was Tetraphase Pharmaceuticals (TTPH), which gained $4.81, or 14.49%, to $38.00 after a study of the company's eravacycline antibiotic met its primary endpoint and more than one research firm said the trial results make the company a more likely takeover target. Among the noteworthy losers was Silicon Image (SIMG), which dropped $1.84, or 27.3%, to $4.90 after the company warned it expects a year-over-year revenue decline in 2015 of about 10% due to a reduction in mobile design wins at one of its largest customers. Also lower were shares of RCS Capital (RCAP), which fell $1.81, or 15.39%, to $9.95 after its Executive Chairman of the Board, Nicholas Schorsch, was reportedly accused of directing two executives at American Realty Capital Properties (ARCP), where he was formerly the Chairman, to manipulate quarterly financial results. INDEXES: The Dow gained 421.28, or 2.43%, to 17,778.15, the Nasdaq advanced 104.08, or 2.24%, to 4,748.40, and the S&P 500 rose 48.34, or 2.4%, to 2,061.23.
15:46 EDTARCPRCS Capital down over 15% after Schorsch accused of directing manipulation
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13:49 EDTARCPFormer American Realty Chair said to call for manipulation of results, WSJ says
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13:44 EDTARCPFormer American Realty Chair said to call for manipulation of results, WSJ says
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11:08 EDTARCPOptions with increasing implied volatility
Options with increasing implied volatility: CZR RSX HLF YPF ARCP MGM A MCD
December 15, 2014
18:35 EDTBXCDL partners with Blackstone to create S$1.5B investment platform
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08:41 EDTARCPAmerican Realty announces CEO Kay, COO Beeson step down
American Realty Capital Properties announced changes to its management and corporate governance. As previously announced, Nick Schorsch has stepped down as Executive Chairman of ARCP and from the ARCP Board of Directors and the Boards of Directors of the non-traded REITs managed by Cole Capital. In addition, David Kay has stepped down as CEO of ARCP and from the ARCP Board of Directors. Lisa Beeson has also stepped down as President and COO. William Stanley has been appointed Lead Independent director and Chairman of the Nominating and Corporate Governance Committee. Effective immediately, Stanley will serve as Interim CEO and Interim Chairman of the Board until permanent replacements are named. The Compensation Committee of the ARCP Board of Directors already has commenced the process of identifying a new CEO and a new Chairman of the Board. The Committee is engaging an independent search firm to assist with this process and will identify and name new leadership as expeditiously as possible. In connection with Mr. Schorsch's departure as Executive Chairman, ARCP will be unwinding all of its relationships with entities in which Schorsch maintains an executive or director-level role or is a significant stockholder. These steps will not only enhance the Company's corporate governance structure but will also lead to further simplification of its business relationships. As part of this undertaking, Mr. Stanley has resigned, or is in the process of resigning, his positions with all other entities related with Mr. Schorsch, including Business Development Corporation of America, Business Development Corporation of America II, American Realty Capital, Retail Centers of America, Inc., and New York REIT Inc. As previously disclosed, the independent members of the ARCP Board of Directors have retained Morgan Stanley & Co. LLC to provide advice around capital structure, business strategy and capital allocation.
08:39 EDTARCPAmerican Realty announces David Kay stepping down as CEO
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08:33 EDTARCPAmerican Realty annouces resignation of Schorsch as ARCP Executive Chair
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08:22 EDTBXBlackstone initiated with an Overweight at Morgan Stanley
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December 12, 2014
09:02 EDTBXKimco Realty to buy Blackstone 66.7% share stake in portfolio for $925M
Kimco Realty (KIM) announced that its subsidiary has executed a contract to acquire the remaining 66.667% interest in the 39-property Kimstone portfolio from its joint venture partner, a subsidiary of Blackstone Real Estate Partners VII (BX) for a price of $925M, which includes the assumption of approximately $426.7M in mortgage debt. The company will pay approximately $512.3M to acquire BREP’s interest. Kimco will use a combination of proceeds from recently completed and pending property sales in the U.S. and Latin America as well as availability under its existing $1.75B revolving credit facility to fund this transaction which is expected to be completed in the first quarter of 2015. Upon closing, Kimco will own 100% of the portfolio. The portfolio consists of 39 properties totaling 5.6M square feet and is approximately 97% occupied. The properties in the portfolio are concentrated in the core markets of New York, Virginia, Texas, Florida, California, and Maryland. The portfolio has a three-mile average household income level of $92,000 and an average base rent per square foot of $15.83, both of which exceed Kimco’s current portfolio averages.
08:09 EDTBXBofA/Merrill financial analysts hold an analyst/industry conference call
Banks Analyst Najarian, along with Capital Markets Analyst Carrier, Specialty Finance Analyst Bruce discuss the year ahead in Financials, covering the Banks, Capital Markets, Life and P/C Insurance, REIT, Specialty Finance and Canadian Banks/Life Insurance sectors on an Analyst/Industry conference call to be held on December 16 at 10 am.
December 11, 2014
07:49 EDTBXThe New York Times to hold a conference
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07:21 EDTBXShell starts sale process for Tongyi JV stake, WSJ reports
Royal Dutch Shell (RDS.A) has started the sale process for 75% its stake in a Chinese oil lubricants business in a deal that could fetch up to $500M, The Wall Street Journal reports, citing sources. Blackstone (BX) is in a "strong" position in first round bids for the Tongyi oil lubricants joint venture, the sources say. Reference Link
05:54 EDTBXBlackstone implied volatility of 23 at lower end of index mean range
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December 9, 2014
07:45 EDTBXGoldman to hold a conference
U.S. Financial Services Conference is being held in New York on December 9-10.
December 8, 2014
08:05 EDTBXHudson Pacific to acquire EOP portfolio from Blackstone for $3.5B
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07:24 EDTBXBlackstone to sell $3.5B of California properties to Hudson Pacific, WSJ says
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06:15 EDTBXBlackstone implied volatility of 21 at lower end of index mean range
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