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Stock Market & Financial Investment News

News Breaks
December 6, 2012
10:09 EDTMMR, NFLX, MET, IHG, JDSU, PXP, WRI, SNI, GWW, FCX, CBL, AZO, ASNAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Ascena Retail (ASNA) downgraded to Hold from Buy at BB&T... AutoZone (AZO) downgraded to Perform from Outperform at Oppenheimer... CBL & Associates (CBL) downgraded to Sell from Neutral at UBS... Freeport McMoRan (FCX) downgraded to Hold from Buy at Deutsche Bank... Grainger (GWW) downgraded to Neutral from Buy at UBS... Scripps Networks (SNI) downgraded to Neutral from Buy at Goldman... Weingarten Realty (WRI) downgraded to Sell from Neutral at UBS... Plains Exploration (PXP)downgraded to Market Perform from Outperform at BMO Capital... JDSU (JDSU) downgraded to Market Perform from Outperform at Raymond James... Intercontinental Hotels (IHG) downgraded to Neutral from Outperform at Credit Suisse... MetLife (MET) downgraded to Equal Weight from Overweight at Barclays... Netflix (NFLX) downgraded to Below Average from Average at Caris... McMoRan Exploration (MMR) downgraded to Neutral from Add at Capital One.
News For ASNA;AZO;CBL;FCX;GWW;SNI;WRI;PXP;JDSU;IHG;MET;NFLX;MMR From The Last 14 Days
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September 19, 2014
16:00 EDTNFLXOptions Update; September 19, 2014
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09:37 EDTNFLXActive equity options trading on open
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05:18 EDTNFLXNetflix now available in France, Germany, four other European countries
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September 18, 2014
16:00 EDTNFLXOptions Update; September 18, 2014
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09:32 EDTNFLXNetflix domestic estimates raised at ITG Research
ITG raised Netflix's domestic estimates given an acceleration in August. The firm's data indicates a faster than expected improvement in ASP and improved churn trends. The analyst raised its Q3 domestic streaming revenue of $881.3M from $877.3M, above guidance of $877M and consensus of $876.3M.
06:00 EDTNFLXNetflix implied volatility of 26 at lower end of index mean range
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September 17, 2014
14:41 EDTMETMetLife management to meet with Sterne Agee
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09:04 EDTSNIAmericas Media ad growth estimates lowered at Nomura
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September 16, 2014
16:00 EDTNFLXOptions Update; September 16, 2014
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13:20 EDTNFLXNetflix signs two year commitment to Judd Apatow original comedy series
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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.
11:51 EDTNFLXNetflix breaks support, levels to watch
The stock was last at $451.51, putting price below the 50-day moving average at $453.67. That level is now resistance. On a technical basis the shares have swung from a sideways consolidation phase to bearish, with this break suggesting a pickup in downside momentum. Next support is at $445.85.
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
09:36 EDTNFLXActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL NFLX TSLA YHOO FB PBR MU AA TWTR WMT
08:18 EDTNFLXFCC to hold a roundtable
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07:05 EDTSNIDISH, Scripps expand programming, digital rights in deal renewal
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05:57 EDTNFLXNetflix implied volatility of 26 at lower end of index mean range
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