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Stock Market & Financial Investment News

News Breaks
January 30, 2013
16:40 EDTHA, MTOR, KMP, CPNO, BIOC, ENDP, CHK, BBRY, RIMM, AMZN, BAOn The Fly: Closing Wrap
Stocks on Wall Street were lower after GDP unexpectedly contracted last quarter and the Federal Reserve said it would continue its current program of quantitative easing. Following the Fed's FOMC commentary, which had been widely anticipated, the markets moved lower, though the reaction was modest and delayed... ECONOMIC EVENTS: In the U.S., the Commerce Department said gross domestic product shrunk at a 0.1% annual rate in Q4, far short of the analyst forecast for 1.1% growth. The Federal Open Market Committee announced it would keep benchmark interest rates between 0%-0.25%, reiterating that these rates will likely remain unchanged while unemployment remains about 6.5%. The Fed also said it would continue purchasing $40B in mortgage-backed securities per month, as well as continue monthly purchases of $45B in Treasury securities... COMPANY NEWS: Boeing (BA) gained 94c, or 1.28% to $74.59 and led the Dow after its better-than-expected earnings and forecast for the upcoming year reassured investors. The company also said 787 production continues, though 787 deliveries are suspended until the FAA gives clearance... Amazon.com (AMZN) reported earnings and revenue that missed consensus and guided to revenue next quarter that missed expectations as well, but numerous firms raised their price targets on shares, which rose $12.41, or 4.77% to $272.76. The company's margin expansion and expected operating leverage was widely attributed for the move higher... Research In Motion (RIMM), in addition to unveiling two new smartphones and its new BlackBerry 10 operating system, announced it will change its corporate name to "BlackBerry" and Nasdaq ticker to "BBRY". Shares of RIM, which have nearly doubled in the last quarter, slid $1.88, or 12.01%, to $13.78 after the OS introduction event... Chesapeake Energy (CHK) announced last night that CEO Aubrey McClendon would retire from the company April 1. McClendon had been under pressure from the company's board after reports regarding his finances, though the board said its review has not revealed any improper conduct by McClendon. Shares of Chesapeake, which opened sharply higher, finished up $1.14, or 6.01%, to $20.11... MAJOR MOVERS: Among notable gainers were shares of Endo Health Solutions (ENDP), which rose $3.08, or 10.78%, to $31.66 after a Reuters report said the company is in talks with potential buyers. Other gainers included BioClinica (BIOC), up $1.17, or 19.37%, to $7.21 after agreeing to be acquired by JLL Partners for $7.25 a share, and Copano Energy (CPNO), up $4.90, or 14.79%, to $38.03 after being acquired by Kinder Morgan Energy (KMP) in a unit for unit transaction. Among noteworthy losers were Meritor (MTOR), down 67c, or 12.52%, to $4.68, after its Q1 report missed estimates and the company cuts its FY13 revenue view. Also lower was Hawaiian Holdings (HA), down 85c, or 13%, to $5.69, after its Q4 report missed consensus estimates and shares were downgraded to Hold at Deutsche Bank... INDICES: The Dow was down 44.00, or 0.32%, to 13,910.42; the Nasdaq was down 11.35, or 0.36%, to 3,142.31; and the S&P 500 was down 5.88, or 0.39%, to 1,501.96.
News For BA;AMZN;RIMM;BBRY;CHK;ENDP;BIOC;CPNO;KMP;MTOR;HA From The Last 14 Days
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August 13, 2014
05:32 EDTAMZNAmazon.com announces credit card reader Amazon Local Register
Amazon.com announced Amazon Local Register, what it calls a "secure card reader and mobile app that provides local businesses with the tools they need to quickly and easily accept credit and debit cards from a smartphone or tablet and keep track of their growing business." It added that customers who sign up for Amazon Local Register before October 31 will also receive a promotional rate of 1.75% per card swipe on all major credit and debit cards until January 1, 2016.
August 12, 2014
06:29 EDTBABoeing sees most defense arm reductions from supply chain, Reuters says
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05:58 EDTAMZNAmazon's Disney dispute about more than pricing, WSJ reports
Amazon's (AMZN) dispute with Disney (DIS) is about more than pricing, according to the Wall Street Journal, and concerns promotion and product placement on Amazon's website. Additionally, the dispute encompasses questions over "who makes up the difference when Amazon loses money to match the prices of competitors," a source says. Reference Link
05:51 EDTKMPKinder Morgan Energy lululemon
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August 11, 2014
16:50 EDTKMPOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory but were never able to gain any upside momentum. There was little to account for the initial move other than no change to the status quo for Israel and Russia. The averages moved in a narrow range but managed to stay on the plus side into the close, though in lackluster fashion. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced $3.25, or 9.0%, to $39.37 after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). The total transaction has a value of about $70B and the combined entity will be the largest energy infrastructure company in North America and the third largest energy company overall with an estimated enterprise value of approximately $140B, the company said. Afterward, Kinder Morgan was upgraded to Buy from Neutral at BofA Merrill Lynch, though Wells Fargo viewed the plans as mixed near-term. Wells believes the deal helps address some of the structural issues that have been pressuring Kinderís valuation in recent quarters, but it believes itís unclear how the market will ultimately value the new structure and the firm kept its Market Perform rating on all four stocks involved. MAJOR MOVERS: Among the notable gainers was salad and banana distributor Chiquita Brands (CQB), which jumped $3.04, or 30.22%, to $13.10 to close above the $13 per share takeover offer announced by Cutrale Group and the Safra Group. Note that Chiquita previously agreed to combine with Fyffes plc in a stock-for-stock transaction. Also higher was Mattress Firm (MFRM), which advanced $6.52, or 13.58%, to $54.53 after reporting preliminary second quarter results that beat expectations and raising it fiscal year outlook. Among the noteworthy losers following their earnings reports were Walter Investment (WAC), which fell $3.52, or 12.45%, to $24.75, and Inovio (INO), which dropped 99c, or 9.94%, to $8.97. INDEXES: The Dow edged up 16.05, or 0.1%, to 16,569.98, the Nasdaq gained 30.43, or 0.7%, to 4,401.33, and the S&P 500 rose 5.33, or 0.28%, to 1,936.92.
16:00 EDTAMZNOptions Update; August 11, 2014
iPath S&P 500 VIX Short-Term Futures down 1.33 to 31.90. Option volume leaders: AAPL KMI MNKD PBR AMZN SCTY TWTR TSLA according to Track Data.
12:25 EDTKMPOn The Fly: Midday Wrap
Stocks on Wall Street opened in positive territory and have remained there throughout the morning. There was little in the way of a catalyst, as the economic calendar was empty, though investors may have been encouraged that there was no breakdown in the ceasefire agreement between Israel and Gaza and no big headlines from the Russia/Ukraine border. Additionally, some may have viewed comments from Fed Vice Chair Fischer as dovish and in support of continued easing. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced 10% after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). In addition to the rise in the shares of the parent, Kinder Morgan Energy shares rose 19%, Kinder Morgan Management gained 25% and El Paso Pipeline moved up 22%. MAJOR MOVERS: Among the notable gainers was salad and banana producer Chiquita Brands (CQB), which jumped 31% to trade above $13 per share after Cutrale Group and the Safra Group proposed to acquire 100% of the company's outstanding stock for $13 in cash each. Also higher was electric car maker Tesla (TSLA), which rose 5% after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. Among the noteworthy losers was social game maker King Digital (KING), which slid 3% after the stock was downgraded at Pacific Crest to Sector Perform from Outperform. Also lower following their earnings reports were Inovio (INO), which fell over 8%, and Gogo (GOGO), which dropped nearly 6%. INDEXES: Near midday, the Dow was up 51.25, or 0.31%, to 16,605.18, the Nasdaq was up 38.19, or 0.87%, to 4,409.08, and the S&P 500 was up 10.12, or 0.52%, to 1,941.71.
09:36 EDTAMZNActive equity options trading on open
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09:06 EDTKMPOn The Fly: Pre-market Movers
HIGHER: PharmAthene (PIP), up 55% after announcing that a Delaware court awarded the company lump sum expectation damages for the value of its lost profits for SIGA Technologies' (SIGA) smallpox antiviral, Tecovirimat... MannKind (MNKD), up 19% after entering exclusive licensing agreement for development and commercialization of Afrezza inhaled insulin with Sanofi (SNY)... Kinder Morgan (KMI), up 19% after announcing it will acquire all of the outstanding equity securities of Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB)... Tesla (TSLA), up 2.7% following upgrade at Deutsche Bank... Achillion (ACHN), up 6% following upgrades at Wells Fargo and at Piper Jaffray... PepsiCo (PEP), up 0.9% following upgrade at UBS. LOWER: Dean Foods (DF), down 8.6% after reporting Q2 losses that were steeper than expected, saying balance of year "appears rocky," which makes it difficult to provide guidance beyond the immediate quarter... Priceline (PCLN), down 0.7% after reporting Q2 revenue that missed expectations, guiding Q3 EPS below consensus... SIGA Technologies, down 31% after ruling in suit with PharmAthene... 2U (TWOU), down 4.3% after downgraded at Goldman.
08:49 EDTKMPKinder Morgan says future MLP not currently in plans
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07:15 EDTKMPKinder Morgan volatility is expected to move on acquisitions
Kinder Morgan (KMI) volatility is expected to move after announcing the acquisition of Kinder Morgan Energy (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). Overall option implied volatility of 22 is at its 26-week average according to Track Data, suggesting non-directional price movement.
06:50 EDTBAJason Communications to sponsor a symposium
17th Annual Space and Missile Defense Symposium to be held in Huntsville, Alabama on August 11-14.
06:26 EDTKMPWells Fargo views Kinder Morgan deal as mixed near-term
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August 10, 2014
20:17 EDTKMPKinder Morgan to buy KMP,KMR,EPB with 2015 KMI dividend increase to $2 per share
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15:44 EDTAMZNAmazon urges customers to express opinions on e-book prices with Hachette
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15:21 EDTAMZNAmazon stops preorders of some Disney movie titles, WSJ says
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August 8, 2014
18:26 EDTBABoeing 787 production snags re-emerge at assembly plant, Reuters reports
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09:00 EDTENDPBioDelivery Sciences still a takeover target, says Janney Capital
Janney Capital continues to believe that BioDelivery Sciences (BDSI) could be a takeover target, noting that it thinks partner Endo International (ENDP) could be a potential buyer if BioDelivery has more positive top-line results and if the market weakens. The firm, which added that it likes BioDelivery Sciences as a stand-alone company as well, maintains its Buy rating and $15 fair value estimate on the stock.
07:10 EDTAMZNAmazon executive defends $2B investment in India, WSJ says
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06:43 EDTBAReport says cold weather reason for Boeing battery meltdown, Reuters says
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