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Stock Market & Financial Investment News

News Breaks
December 11, 2012
10:00 EDTARW, CBL, EPR, FWLT, LPL, HSP, BCRX, XUE, AWROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Arrow Electronics (ARW) downgraded to Underperform from Outperform at CLSA... CBL & Associates (CBL) downgraded to Neutral from Buy at Goldman... Entertainment Properties (EPR) downgraded to Neutral from Buy at Goldman... Foster Wheeler (FWLT) downgraded to Neutral from Buy at Lazard Capital... Hospira (HSP) downgraded to Sell from Neutral at Goldman... LG Display (LPL) downgraded to Sell from Hold at Topeka... BioCryst (BCRX) downgraded to Hold from Buy at Noble Financial... Xueda Education (XUE) downgraded to Sell from Buy at Goldman... American States Water (AWR) downgraded to Neutral from Buy at Ladenburg.
News For ARW;CBL;EPR;FWLT;LPL;HSP;BCRX;XUE;AWR From The Last 14 Days
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September 23, 2014
10:23 EDTCBLHigh option volume stocks
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07:54 EDTHSPLeerink to hold a conference
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07:33 EDTFWLTFoster Wheeler unit awarded contract from Longview Power
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07:31 EDTFWLTFoster Wheeler unit awarded contract from Petron
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September 22, 2014
11:24 EDTHSPHospira, Orion amend settlement agreement over Precedex
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September 18, 2014
12:08 EDTBCRXBioCryst receives additional NIAID funding for BCX4430
BioCryst announced that the National Institute of Allergy and Infectious Diseases exercised two additional options under its contract, which provides for GMP drug substance and drug product manufacture of BCX4430. Exercise of these options includes up to a $2M increase to the existing development contract. The contract modification and the two additional options exercised represent up to $4M to BioCryst in order to accelerate the development of BCX4430 as a treatment for hemorrhagic fever viruses, including Ebola virus and Marburg virus disease. NIAID, part of the National Institutes of Health, granted this five year term contract to BioCryst in September 2013. Approximately $19.9M of funding has been awarded to date under the contract. With this additional award, the BCX4430 development contract has been increased in value to $26.3M, if all options are exercised. This project is funded in whole or in part with Federal funds from the National Institute of Allergy and Infectious Diseases, National Institutes of Health, Department of Health and Human Services, under Contract No. HHSN272201300017C.
08:55 EDTEPREPR Properties 3.2M share Spot Secondary priced at $52.25
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07:33 EDTFWLTFoster Wheeler announces collaboration agreement with ZeoGas LLC
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06:40 EDTLPLApple wants to sell 50M Apple Watches in 2015, DigiTimes reports
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September 17, 2014
18:29 EDTEPROn The Fly: After Hours Movers
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16:07 EDTEPREPR Properties files to sell 3.2M shares of common stock
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07:31 EDTFWLTFoster Wheeler unit selected by Plaxica
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06:31 EDTLPLLG Display to supply AMOLED panels for Apple Watch, DigiTimes reports
LG Display (LPL) are expected to supply Apple (AAPL) 5M AMOLED panels a month in 2015 for the Apple Watch, reports DigiTimes. According to sources from LG Display, Apple aims to sell upwards of 50M Apple Watches in 2015. Apple will reportedly not purchase AMOLED panels from Samsung (SSNLF) Display and instead will have LG as the sole panel provider for the Apple Watch. Reference Link
September 16, 2014
12:18 EDTCBLOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, with some attributing the move to noted Fed watcher Jon Hilsenrath of The Wall Street Journal giving the opinion that he does not believe the central bank will drop the language that interest rates will "remain low for an extended period of time" when it issues its latest policy statement tomorrow. The averages began the session in negative territory and appeared to be heading for another listless day of trading. The market drifted lower during the opening hour but the Dow and S&P crossed into positive ground and the Nasdaq eventually followed. ECONOMIC EVENTS: In the U.S., the Producer Price Index was unchanged in August, as expected. The core reading, which excludes food and energy, increased 0.1%, also matching expectations. Of note, the Fed's FOMC rate setting group kicked off its two-day policy meeting. COMPANY NEWS: Shares of Apple (AAPL) slid over 1% after Chinese-language 21st Century Business Herald reportedly said the company might not get the necessary approval to launch its new iPhone 6 models throughout China until next year after failing to come to an agreement with a regulator in the nation. Shares of China Mobile (CHL), which is buy far the largest phone carrier in China, slipped 2% after the report... Glimcher Realty Trust (GRT) surged 29% after it agreed to sell itself to fellow REIT Washington Prime Group (WPG) for $14.20 per share. Washington has agreed to buy Glimcher for about $4.3B in a cash and stock deal. Glimcher shareholders will receive $10.40 in cash and 0.1989 of a share of Washington stock upon the closing of the transaction, the companies stated. As part of the deal, Simon Property Group (SPG), which completed its separation of Washington Prime Group this May, agreed to buy two shopping malls owned by Glimcher for $1.09B in cash. Shares of fellow mall owning REITs CBL & Associates (CBL), Rouse Properties (RSE) and Pennsylvania REIT (PEI) rose following the deal announcement. MAJOR MOVERS: Among the notable gainers was Bill Barrett (BBG), which rose 12% after selling natural gas, oil and natural gas liquids assets in the Piceance Basin in Colorado for $525M to Vanguard Natural (VNR). Vanguard Natural also gained 1% following the deal announcement. Among the noteworthy losers was VirnetX (VHC), which plunged nearly 50% after an appeals court vacated a jury’s damages award in its patent case with Apple. Also lower were shares of Atlantic Power (AT), which dropped 32% after announcing that it concluded a sale or merger of the company is not in the best interests of the company or its stakeholders and the company cut its annual dividend. INDEXES: Near midday, the Dow was up 88.18, or 0.52%, to 17,119.32, the Nasdaq was up 16.11, or 0.36%, to 4,535.01, and the S&P 500 was up 11.94, or 0.6%, to 1,996.07.
10:36 EDTCBLGlimcher surges after agreeing to acquisition, REIT peers rise
Shares of Glimcher Realty Trust (GRT) are jumping after it announced earlier today that it had agreed to sell itself to Washington Prime Group (WPG) for $14.20 per share. Glimcher and Washington Prime are a real estate investment trusts, or REITs, that invests in shopping malls and community shopping centers. WHAT'S NEW: Washington has agreed to buy Glimcher for about $4.3B in a cash and stock deal. Glimcher shareholders will receive $10.40 in cash and 0.1989 of a share of Washington stock upon the closing of the transaction, the companies stated. Meanwhile, another REIT, Simon Property Group (SPG), agreed to buy two shopping malls owned by Glimcher - Jersey Gardens in Elizabeth, New Jersey and University Park Village in Fort Worth, Texas - for $1.09B in cash. WHAT'S NOTABLE: In a note to investors today, Wells Fargo upgraded another REIT, CBL & Associates (CBL), to Market Perform from Underperform. In the note, the firm stated that the Glimcher acquisition and Simon Property's purchase of two of Glimcher's malls support its belief that "B" mall asset prices are strong enough to justify a low $20 per share valuation for CBL. PRICE ACTION: In early trading, Glimcher jumped 30% to $13.80, CBL rallied 5% to $18.57, and Washington Prime fell 7% to $17.13. Meanwhile, the shares of two other mall owners, Rouse Properties (RSE) and Pennsylvania REIT (PEI), increased 3% and 5.5%, respectively. Simon Property Group, which completed its separation of Washington Prime Group this May, was up 0.5% following the news.
10:33 EDTCBLHigh option volume stocks
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09:48 EDTCBLFollow-up: CBL & Associates upgraded at Wells Fargo
As previously reported, Wells Fargo upgraded CBL & Associates to Market Perform from Underperform. The firm upgraded shares based on valuation and increased asset pricing.
09:43 EDTCBLCBL & Associates upgraded to Market Perform from Underperform at Wells Fargo
07:51 EDTXUEMarcumBP to hold a conference
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07:30 EDTFWLTFoster Wheeler unit awarded EPCm contract by Sasol
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