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Stock Market & Financial Investment News

News For BA;AMZN;RIMM;BBRY;CHK;ENDP;BIOC;CPNO;KMP;MTOR;HA From The Last 14 Days
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March 29, 2015
13:55 EDTHAHawaiian Holdings expresses 'disappointment' on DOT decision on Haneda slots
Statement from Mark Dunkerley, President And CEO Of Hawaiian Airlines (HA), on DOT tentative decision on Haneda Slots: "The tentative decision issued by the U.S. Department of Transportation this morning to allow Delta Air Lines (DAL) to retain the valuable right to fly from Tokyo's Haneda International Airport for largely unused service to Seattle is tremendously disappointing. We are further disappointed that the U.S. DOT has determined that should Delta's planned service continue to fail, the Haneda slots will be assigned to American Airlines (AAL). Hawaiian is the only airline to have operated Haneda service continuously and successfully since the slot rights were granted. Our proposal provided more seats and would have resulted in more travelers flying between Japan and the United States than either Delta's or American's proposal. Kona is the largest unserved market in this proceeding, and Hawaiian's proposed route would have generated more economic benefit than that offered by either Delta or American. None of these facts are in dispute by the DOT. Sadly, by dismissing Hawaiian's proposed Kona route as just simply being additive to the routes already serving Hawaii, the DOT has once more failed to appreciate the geography of the 50th state. Kona and Honolulu are separate markets, separate communities and indeed are located on separate islands. The tentative ruling also reveals a long-held institutional bias among decision makers favoring the interests of U.S. business travelers over those of U.S. travel-related businesses and travelers in general. Hawaiian will be considering its next steps in this proceeding in the coming days."
March 27, 2015
16:43 EDTBBRYMarket finishes week lower as Yemen conflict, data weigh on shares
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16:01 EDTAMZNOptions Update; March 27, 2015
iPath S&P 500 VIX Short-Term Futures down 31c to 25.74 Option volume leaders: AAPL TSLA TWTR RAD FB PBR AMZN DOW VLO AMAT ALTR according to Track Data.
13:02 EDTBBRYBlackBerry CEO says EPS expectations are 'reasonable', but intends to do better
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12:33 EDTAMZNLegg Mason's Miller says Intrexon, Amazon two of largest positions
11:12 EDTBABoeing, All Nippon Airways finalize order for three Dreamliners
Boeing and All Nippon Airways finalized an order for three 787-10 Dreamliners, valued at approximately $900M at list prices. With this order, originally announced as a commitment in January 2015, ANA becomes Boeing's newest 787-10 customer and first airline in Asia to operate the entire family of 787 Dreamliners.
10:47 EDTBBRYStocks with call strike movement; BBRY TWTR
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10:15 EDTAMZNAmira Nature Foods says products to be available on Amazon.com
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10:15 EDTBBRYOptions with decreasing implied volatility
Options with decreasing implied volatility: ASPS WLL PVA FIVE NSR BBRY RHT LULU RH APOL
09:37 EDTAMZNActive equity options trading on open
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09:26 EDTBBRYOn The Fly: Pre-market Movers
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08:26 EDTBBRYBlackBerry CEO says EPS expectations are 'reasonable', but intends to do better
08:23 EDTBBRYBlackBerry sees FY16 software and other revenue $600M
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08:21 EDTBBRYBlackBerry says 'financial house is in order' and 'no longer in question'
BlackBerry CEO John Chen says its "financial house is in order" and that its "financial reliability is no longer in question". Chen adds that it will now focus on high-margin software and value from handsets. Expects licensing software program to pick up in 2H15 and it is hiring in the security software side. Chen says that 90% of phones sold this quarter were new generation phones that have higher margins. Says company is on track in enterprise business. Chen says Blackberry behind in efforts to monetize BBM, but says Internet of Things strategy is ahead. Comments taken from Q4 earnings conference call.
07:12 EDTBBRYBlackBerry up 1.3% after reporting Q4 results, partnerships
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07:11 EDTBBRY3 Hong Kong to resell enterprise licenses for BlackBerry
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07:09 EDTBBRYChina Mobile to resell enterprise licenses for BlackBerry
BlackBerry (BBRY) announced that China Mobile Hong Kong, or CMHK, the wholly owned subsidiary of China Mobile (CHL), will offer Enhanced SIM-Based Licensing, or ESBL, by BlackBerry to its enterprise customers. With the new ESBL offering, CMHK enterprise customers can get BES12, a cross-platform EMM solution by BlackBerry, integrated with their wireless monthly subscriber billing. The ESBL offering in conjunction with BES12 will support iOS, Android, Windows Phone and BlackBerry 10. The offering will enable CMHK to resell to its enterprise customers licenses for BlackBerry EMM services as a bundled offer along with airtime and a data plan. ESBL enables CMHK to offer enterprise customers granular monthly billing, and the ability to consolidate all users to one monthly billing date. This helps CMHK facilitate how customers pay for BlackBerry EMM services, which can quickly and easily be selected at the carrier point of sale. ESBL will also integrate with CMHK's existing carrier provisioning systems, helping to identify a customer's existing licensing status as well as upsell opportunities. The ESBL offering will provide enterprise customers an improved purchasing experience, meaning they can consolidate operational costs into one monthly invoice. The license migration process is eliminated, since ESBL licensing includes version upgrades and updates. Enterprises with BYOD policies will also have the opportunity to purchase Bring Your Own Licenses with ESBL.
07:06 EDTBBRYBlackBerry recognized hardware revenue on 1.3M smartphones
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07:04 EDTBBRYBlackBerry continues to anticipate positive free cash flow in FY16
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07:02 EDTBBRYBlackBerry reports Q4 EPS 4c, consensus (5c)
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07:01 EDTMTORMeritor announces executive title sponsorship of ChampTruck World Series
06:58 EDTAMZNAmazon could buy Net-A-Porter, price likely to be lower than $2.19B, Forbes says
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06:43 EDTAMZNJon McCormack returns to Amazon two months after leaving for Yahoo, BI says
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06:25 EDTAMZNAmazon.com price target raised to $430 from $405 at Citigroup
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05:58 EDTAMZNStocks with implied volatility above IV index mean; AMZN AMD
Stocks with implied volatility above IV index mean; Amazon.com (AMZN) 39, AMD (AMD) 62 according to iVolatility.
March 26, 2015
16:01 EDTAMZNOptions Update; March 26, 2015
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15:20 EDTBBRYNotable companies reporting before tomorrow's open
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15:09 EDTBBRYBlackBerry March weekly 9.5 straddle priced for 9.6% movement into Q4
14:56 EDTBBRYBlackBerry volatility elevated into Q4 and outlook
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12:17 EDTBA, BBRYEarnings Preview: Analyst sees BlackBerry's revenue bottoming in Q4
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11:14 EDTBBRYStocks with call strike movement; BBRY TWTR
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09:39 EDTAMZNAmazon Cloud Drive launches unlimited cloud storage
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09:02 EDTAMZNSamsung Galaxy S6, S6 edge to be available in U.S. beginning April 10
Samsung Electronics America (SSNLF) announced the Galaxy S 6 and Galaxy S 6 edge will be available in the U.S. beginning April 10, with pre-orders starting March 27. In the U.S., the Galaxy S 6 and Galaxy S 6 edge will be available in Black Sapphire, White Pearl and Gold Platinum -- in 32GB, 64GB and 128GB2 memory options. AT&T (T), Sprint (S), T-Mobile (TMUS), U.S. Cellular (USM) and Verizon Wireless (VZ) will carry both the Galaxy S 6 and Galaxy S 6 edge, while Boost Mobile, Cricket Wireless and MetroPCS will carry the Galaxy S 6. Samsung Experience Shops at Best Buy (BBY), as well as Amazon.com (AMZN), Costco Wholesale (COST), Sam’s Club (WMT), Target (TGT) and Walmart will also carry the Galaxy S 6 and Galaxy S 6 edge. Carriers and retailers will confirm specific pricing and availability.
08:59 EDTAMZNAmazon to relaunch 'Home Services' marketplace, TechCrunch says
Amazon has rebranded "Amazon Local Services" as "Amazon Home Services" before a larger launch Monday, reports TechCrunch, citing sources familiar with the company's plans and a leaked internet link. The updated service will cover most major U.S. cities and will offer bookings for home improvement, lawn and garden, automotive, and computer servicing. Reference Link
07:30 EDTENDPDeutsche Bank to hold a conference
Pharma One-on-One Day is being held in Denver, Colorado on March 26.
07:08 EDTAMZNAmazon in discussions to buy Net-a-Porter, WWD reports
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06:55 EDTBBRYBlackBerry revenue likely to bottom in Q4, says JPMorgan
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06:41 EDTBAChina's Hainan Airlines to order 30 Boeing jets, Reuters reports
China's Hainan Airlines said that it intends to order 30 of Boeing's B787-9 jets, according to Reuters. If carried out, the deal would be worth over $7.5B based on list prices and would be Boeing's largest order this year, the news service stated. Reference Link
06:39 EDTAMZNEU to open antitrust investigation of e-commerce companies, WSJ says
The European Union is opening an antitrust investigation into whether e-commerce companies, like Amazon, are restricting cross-border trade, reports the Wall Street Journal, citing EU’s antitrust chief Margrethe Vestager. Reference Link
06:00 EDTAMZNAmazon.com launches Prime Now one-hour delivery to Dallas
05:58 EDTAMZN, BBRYStocks with implied volatility above IV index mean; AMZN BBRY
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March 25, 2015
12:58 EDTENDPPershing Square raises stake in Valeant, says will discuss acquisitions
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10:51 EDTAMZNOptions with increasing implied volatility
Options with increasing implied volatility: CLDN CMG CREE AMZN ISRG MAC UA VMW SLXP
10:00 EDTHAOn The Fly: Analyst Upgrade Summary
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08:47 EDTBAIAM says NLRB approves election for machinists at Boeing
The National Labor Relations Board approved an agreement between the International Association of Machinists and Aerospace Workers, or IAM, and Boeing that establishes the date, time, duration and eligible voters for a union representation election among more than 3,000 workers at Boeing’s 787 production facility in North Charleston, SC, the IAM announced last night. According to the agreement, which was facilitated by the NLRB and is known as a stipulated election agreement, the one-day election is scheduled to take place on Wednesday, April 22, at five separate locations on Boeing’s North Charleston campus, the IAM stated.
07:28 EDTBBRYOptions expected to be active
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07:12 EDTENDPAmerican Academy of Orthopedic Surgeons to hold annual meeting
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06:36 EDTAMZNNielsen to measure Netflix & Amazon viewing by middle of 2015, Bloomberg reports
Nielsen (NLSN) CEO Mitch Barns said the company will begin offering data on viewing by Netflix (NFLX) and Amazon (AMZN) Prime subscribers starting mid-year, reports Bloomberg. Although Netflix and Amazon have been unwilling to share what their subscribers watch, Nielsen has been testing technology that measures audiences by listening to shows and sharing the results with select clients. Reference Link
06:02 EDTAMZNYouTube to relaunch livestreaming platform, Daily Dot says
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06:00 EDTBBRYStocks with implied volatility above IV index mean; LULU BBRY
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05:25 EDTBABoeing 737 requests emergency landing in Russia, Reuters reports
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05:23 EDTHAHawaiian Holdings upgraded to Outperform from In-Line at Imperial Capital
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March 24, 2015
15:09 EDTCHKChesapeake shares remain richly valued, says Raymond James
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14:04 EDTAMZNAmazon says permission for drone testing given to outdated aircraft, WSJ says
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10:40 EDTAMZNOptions with increasing implied volatility
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10:32 EDTAMZNOptions with increasing implied volatility
Options with increasing implied volatility: MAC CMG HLSS PSEC ISRG AMZN CREE
10:14 EDTAMZNSenate Commerce, Science & Transportation Committee holds a hearing
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10:01 EDTBBRYOn The Fly: Analyst Initiation Summary
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09:41 EDTHAHawaiian Holdings revises Q1 operating revenue per ASM to down 1.5%-3.5%
In a regulatory filing, Hawaiian Holdings revised its expectations provided in its earnings release on January 29. The company now sees cost per ASM excluding fuel down 1.5% to up 0.5%; previous guidance was up 1.5%-4.5%. Now sees operating revenue per ASM down 1.5%-3.5%; previous guidance was down 3.5%-6.5%. The company backs ASM guidance of up 3.5%-5.5%. Backs gallons of jet fuel consumed up 2%-4%. The company now sees economic fuel cost per gallon $2.19-$2.24; previous guidance was $2.05-$2.15. "The company now expects its operating revenue per available seat mile to improve relative to prior guidance for Q1 due to better than expected passenger revenue performance primarily on its North America and International routes as well as better than expected other revenue results from its North America and International Cargo operations. The company expects its cost per ASM excluding fuel to be lower than previously indicated for Q1 due to better than expected cost performance and a shift of certain maintenance expenses to later in the year," said Hawaiian.
09:31 EDTBBRYBlackBerry initiated with a Sell at Rosenblatt
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09:22 EDTCHKOn The Fly: Pre-market Movers
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09:03 EDTAMZNAmazon announces new Fire TV features, announces launch in U.K. and Germany
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08:39 EDTBIOCBiocept enters clinical collaboration with UCSD
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07:36 EDTCHKChesapeake volatility elevated into Icahn's increasing stake to 10.98%
Chesapeake March weekly call option implied volatility is at 48, April is at 44, July is at 47; compared to its 26-week average of 41 according to Track Data, suggesting large price movement into Carl Icahn disclosed an increased stake in the company to 73M shares (10.98%), up from 66M shares (9.98%) in December.
07:31 EDTAMZNAmazon.com outlook still positive, says RBC Capital
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07:22 EDTBABoeing price target raised to $185 from $165 at Jefferies
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06:00 EDTAMZNAmazon's Twitch notes 'unauthorized access' to some user account information
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05:54 EDTBBRYStocks with implied volatility above IV index mean; NFLX BBRY
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05:51 EDTAMZNAmazon same-hour delivery expansion encouraging, says Piper Jaffray
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05:46 EDTAMZNStocks with implied volatility movement; AMZN MNKD
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March 23, 2015
19:13 EDTCHKOn The Fly: After Hours Movers
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17:23 EDTCHKCarl Icahn reports 10.98% stake in Chesapeake
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16:35 EDTCHKChesapeake lowers FY15 CapEx view to $3.5B-$4B from $4B-$4.5B
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16:01 EDTAMZNOptions Update; March 23, 2015
iPath S&P 500 VIX Short-Term Futures down 48c to 25.24 Option volume leaders: AAPL TSLA TWTR GILD CELG FB TSLA AMZN TEVA PBR according to Track Data.
16:00 EDTAMZNAmazon adds Pandora-like stations to Prime Music app, The Verge reports
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09:11 EDTAMZNAmazon 'Unlocked' to give away paid apps, TechCrunch says
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08:53 EDTAMZNAmazon VP and General Manager of Payments departs, TechCrunch says
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08:17 EDTBBRYBlackBerry volatility elevated into Q4 and outlook
Blackberry March weekly call option implied volatility is at 115, April is at 70, May is at 58, June is at 55; compared to its 26-week average of 54 according to Track Data, suggesting large price movement into the expected release of Q4 results on March 27.
08:13 EDTAMZNPendrell unit: Court rejects attempts to limit scope of DRM patents
ContentGuard Holdings, a subsidiary of Pendrell Corporation (PCO), announced that on Friday, March 20, Judge J. Rodney Gilstrap of the U.S. District Court for the Eastern District of Texas issued a 144 page Claim Construction Order in lawsuits ContentGuard filed against several companies who continue to use its patented Digital Rights Management solutions without a license, including Apple (AAPL), Amazon.com (AMZN), DirecTV (DTV), Google (GOOG), HTC, Huawei, Motorola Mobility and Samsung Electronics (SSNLF). In his order, Judge Gilstrap interpreted the language in ContentGuard’s patents in a manner that fully preserves the breadth of ContentGuard’s patented Digital Rights Management technologies. These technologies were developed to enable the distribution of digital media over the Internet and other networks, including cellular and satellite networks, and provide innovative solutions to problems that were once thought to be unsolvable. “We are very pleased with the Court’s ruling,” commented James Baker, ContentGuard’s Vice President for Licensing and Strategic Development. “We believe these claim constructions demonstrate that the online stores defendants provide for buying and renting DRM-protected movies, videos, books, and music and devices that play, run, display or print this DRM-protected content infringe ContentGuard’s pioneering DRM patents.”
08:13 EDTBA, HABofA/Merrill airlines/aerospace analysts hold analyst/industry conference call
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08:01 EDTBABofA/Merrill industrials/EU autos analysts hold analyst/industry conference call
Analysts provide a discussion of the key takeaways from the recently held Global Industrials & European Autos Conference on an Analyst/Industry conference call. to be held on March 23 at 10 am.
06:04 EDTBBRYStocks with implied volatility above IV index mean; ZIOP BBRY
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05:55 EDTAMZNStocks with implied volatility movement; AMZN CELG
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March 20, 2015
16:33 EDTENDPStocks end week higher after market reads Fed statement as dovish
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15:31 EDTENDPEndo management to meet with Sterne Agee
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10:43 EDTCHKStocks with call strike movement; CHK FCX
Chesapeake (CHK) July 16 call option implied volatility increased 2% to 50, Freeport McMoRan (FCX) August 20 call option implied volatility decreased 6% to 47 according to IVolatility.
09:45 EDTAMZNActive equity options trading on open
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06:04 EDTBBRYGlobal smartphone shipments to reach 1.4B units in 2015, DigiTimes Research says
Global smartphone shipments in 2015 is expected to increase 16.4% to reach 1.40B units, reports DigiTimes Research. The shipment growth is due to higher growth in demand in emerging markets including India, Southeast Asia and Latin America. Android (GOOG) will account for 78.5% of 2015 global smartphone shipments, Apple's (AAPL) iOS 16.6%, Microsoft (MSFT) Windows 4% and BlackBerry (BBRY) 0.6%.Reference Link
March 19, 2015
16:31 EDTAMZNAmazon Logistics UAS gets experimental airworthiness certificate
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10:02 EDTCHK, MTOROn The Fly: Analyst Downgrade Summary
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09:20 EDTCHKOn The Fly: Pre-market Movers
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08:24 EDTCHKChesapeake downgraded at Sterne Agee
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07:22 EDTBBRYBlackBerry volatility elevated into Q4 and outlook
Blackberry March weekly call option implied volatility is at 85, April is at 66, May is at 58, June is at 54; compared to its 26-week average of 54 according to Track Data, suggesting large April price movement into the expected release of Q4 results on March 27.
06:33 EDTBAAir Lease leases two Boeing 777-300ERs with Air Austral
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06:20 EDTBACytec Industries upgraded to Buy from Neutral at Citigroup
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06:20 EDTCHKChesapeake downgraded to Underperform from Neutral at Sterne Agee
05:57 EDTBBRYStocks with implied volatility above IV index mean; BBRY NFLX
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05:53 EDTAMZNAmazon plans to shut down Shopify rival Amazon Webstore, Re/code reports
Amazon is planning to shut down Amazon Webstore, its competitor to Shopify and Bigcommerce, Re/code reports, citing sources. The company will allow its Webstore customers over a year to find a new vendor before the service is fully shut down, the sources say. Reference Link
05:50 EDTBBRYMicrosoft, BlackBerry raises cooperation for software products, DigiTimes says
Microsoft and Blackberry have been increasing their cooperation with other companies to promote sales of software platforms and related services, reports DigiTimes. According to industry sources, the new eefforts come after their global smartphone market edge dropped 2.8% and 0.6%, respectively. Reference Link
05:46 EDTMTORMeritor downgraded to Equal Weight from Overweight at Barclays
Barclays downgraded Meritor to Equal Weight saying currency headwinds and soft Brazil truck trends put consensus estimates at risk. The firm cut its price target for shares to $15 from $17.
05:30 EDTAMZNAmazon.com expands Prime Now delivery to Baltimore and Miami
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March 18, 2015
14:10 EDTBABoeing, Airbus stepping pressure on supllier over seat delays, Reuters says
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12:01 EDTBABoeing 747-8 Intercontinental receives FAA approval for 330-minute ETOPS
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09:35 EDTBAFedEx says not defering plane deliveries due to low fuel costs
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06:38 EDTBABoeing looking to potential Malaysia deal to boost fighter jets, Reuters says
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06:36 EDTBABoeing turns to cargo jets to overcome West coast port disruptions, WSJ says
Boeing (GE) and its suppliers -- including General Electric (GE) -- have turned to using large Ukrainian "Antonov" cargo jets to overcome supply disruptions at U.S. West coast ports, reports the Wall Street Journal, citing statements by Boeing Commercial CEO Ray Conner, who said disruptions continued even after the ports reached a deal earlier in March. "We’re still dealing with the congestion of all the things that are stuck in those ports right now," added Conner. A Boeing spokesperson said there had been "no effect" on deliveries to airlines. Reference Link
06:01 EDTBBRYStocks with implied volatility above IV index mean; BBRY NFLX
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March 17, 2015
14:55 EDTAMZNVMware to face more competitive process for DOD contract, says Stifel
After government websites indicated that Citrix (CTXS), Amazon (AMZN) and others succeeded in getting the DoD to reconsider its awarding of a $1.6B, five-year contract to VMware (VMW), Stifel said it doesn't think VMware has necessarily lost the opportunity, but that the company will now likely face a more competitive bidding process to win the deal. The firm view this example as supporting its concerns that VMware's steps to become a more strategic vendor have the potential to be as much of a threat as an opportunity and Stifel maintains its Hold rating on the stock.
14:43 EDTAMZNVMware award from DISA canceled after protest, siliconANGLE reports
On March 12, the Defense Information Security Agency, or DISA, reversed a decision to award VMware (VMW) with a $1.6B contract following protests by Amazon Web Services (AMZN), Citrix Systems (CTXS), and others, reported siliconANGLE. A government posting noted that "Amendment 0002 is issued to cancel the request for proposal to further analyze the government's needs." Reference Link
11:23 EDTAMZNApple willing to share TV data to attract programming partners, NY Post reports
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10:45 EDTBBRYStocks with call strike movement; X BBRY
U.S. Steel (X) March 24 call option implied volatility increased 8% to 52, BlackBerry (BBRY) September 11 call option implied volatility decreased 2% to 50 according to IVolatility.
10:00 EDTCHKOn The Fly: Analyst Downgrade Summary
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09:27 EDTBBRYApple plans to allow trade-ins of Android, BlackBerry devices, Bloomberg says
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09:13 EDTCHKChesapeake downgraded to Sell from Neutral at Global Hunter
09:07 EDTAMZNDISH's Sling TV launches on Xbox One
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09:06 EDTBABoeing delivers first 787-9 Dreamliner assembled at North Charleston facility
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09:05 EDTAMZNMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
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07:42 EDTBA, AMZNBoeing may produce satellite for tech giants, Reuters says
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07:18 EDTBASatellite & Access Intelligence to hold a exhibition
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05:58 EDTBBRYStocks with implied volatility above IV index mean;
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March 16, 2015
16:28 EDTENDPOn The Fly: Closing Wrap
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16:00 EDTAMZNOptions Update; March 16, 2015
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13:37 EDTBABoeing responds to IAM's petition to unionize Boeing South Carolina
Boeing was notified that the International Association of Machinists union has petitioned the National Labor Relations Board for a union election at the company's North Charleston, S.C., facilities. If the NLRB permits it, a vote will be scheduled for eligible teammates to decide whether they will turn over their rights to the IAM or keep a direct relationship with the company. "Boeing South Carolina teammates have done what so many people said couldn't be done. And they did it by working together, engaging every day, and truly committing themselves to the success of our site," said Beverly Wyse, Boeing South Carolina's newly appointed vice president and general manager. "And let's be really clear, the IAM was not part of this success – it was our BSC teammates. In fact, the IAM aggressively opposed it, as publicly demonstrated by their filing of a claim with the National Labor Relations Board, to try to keep our site from even opening. Now, simply by filing this petition, the same union that tried to take our jobs and our work, has already begun to divide our team at a time when we're just beginning to gel and catch a solid rhythm in production." Boeing firmly believes that a union is not in the best interest of Boeing South Carolina teammates and their families, their communities, and the state of South Carolina, especially after years of the IAM insulting the abilities of Boeing South Carolina teammates and fighting against BSC's success. "We think our Boeing South Carolina teammates deserve to pave their own future and keep their hard-earned money in their own pockets," said Wyse. "In fact, they've been very successful doing just that for the past five years. They've built not only new airplanes, but also a new site, and new opportunities for an incredible future here in South Carolina by working together as a team, without the distractions of a union. We're extremely proud of what our teammates have accomplished." Boeing South Carolina has established several outlets to keep teammates, their families and the community updated throughout this process, including a website and Facebook page that provides information, facts, data, and additional resources related to the IAM's unionizing efforts in South Carolina.
12:43 EDTENDPOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after stimulus talk out of China and a rally in European stock markets lifted the U.S. market at the open. There was little reaction to the day’s domestic economic reports, which included the Empire manufacturing index, industrial production data, and a homebuilder confidence index. The week's big economic news, however, is yet to come, as investors look forward to the conclusion of the Federal Reserve's latest rate setting meeting on Wednesday. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index dipped to 6.9 in March, versus the consensus forecast for a reading of 8.0. Industrial production edged up 0.1% in February, versus expectations for an increase of 0.2%, and capacity utilization fell to 78.9%, versus the 79.5% consensus forecast. The NAHB homebuilder sentiment index dropped to 53 in March from 55 in February, missing expectation for the index to rise to 56. Oil prices continued to tumble, with U.S. crude dropping to a six-year low below $44 per barrel earlier in the session. In Asia, Chinese Premier Li Keqiang said Sunday that his government has room and the tools to take action should growth falter, without detailing specific remedies the government might pursue. COMPANY NEWS: Valeant (VRX), which not long ago lost out to Actavis (ACT) in the race to buy Allergan (AGN), increased its chances of making sure its latest buyout deal gets done by increasing its takeover offer to Salix Pharmaceuticals (SLXP) by about $1B. Rival bidder Endo Health (ENDP) confirmed that it is withdrawing its cash and stock proposal to acquire Salix after Valeant raised its all-cash bid for Salix to $173 per share from $158 per share. Shares of Valeant and Salix both rose about 2%, while Endo shares gained 2.5% following the announcements. MAJOR MOVERS: Among the notable gainers was Life Time Fitness (LTM), which rose 5% after entering into a definitive agreement to be acquired by private equity firms Leonard Green & Partners and TPG in a transaction valued at more than $4B, or $72.10 per share, in cash. Also higher was Edwards Lifesciences (EW), which rose 8% after the company reported data at this weekend's American College of Cardiology conference. Among the noteworthy losers was iDreamSky (DSKY), which dropped more than 25% after the company lowered its guidance because the launch of a popular casual game was delayed on one of the company distribution platforms and the monetization of another popular casual game was less than expected. Also lower were shares of Enzo Biochem (ENZ), which fell 17% after an appeals court reversed-in-part and vacated-in-part the judgment in Enzo’s favor that Life Technologies' (LIFE) Applera Corp. infringed certain Enzo patents. INDEXES: Near midday, the Dow was up 174.81, or 0.98%, to 17,924.12, the Nasdaq was up 39.80, or 0.82%, to 4,911.55, and the S&P 500 was up 20.07, or 0.98%, to 2,073.47.
11:20 EDTBBRYStocks with call strike movement; MNKD BBRY
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10:58 EDTENDPValeant price hike likely ends Salix saga, says UBS
UBS believes the race for Salix (SLXP) is likely over now that Valeant (VRX) has increased its offer price, as expected. The firm said it will still like both Valeant (VRX) and Endo (ENDP) if this is how things end, as it believes the deal is still a very good one for Valeant despite the higher price and it expects Endo to find another deal that should be accretive. UBS has Buy ratings on both Valeant and Endo Health.
10:44 EDTAMZNNetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
10:18 EDTENDPValeant should win Salix with increased offer, says Cantor
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10:00 EDTBARyanair plans transatlantic service in four to five years, Financial Times says
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09:24 EDTENDPEndo withdraws proposal for Salix
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09:11 EDTBAViaSat and Boeing announce collaboration to offer broadband system
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08:17 EDTENDPValeant rises 1% after sweetening Salix takeover offer
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08:06 EDTENDPValeant ses Salix deal closing on April 1
08:05 EDTENDPValeant raises offer price for Salix to $173 per share from $158
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07:50 EDTENDPValeant to raise offer for Salix to $173 per share, DJ reports
Dow Jones cites sources.
07:31 EDTENDPEndo announces launch of Natesto
Endo Pharmaceuticals, a subsidiary of Endo, announced the commercial availability of NATESTO, the first and only nasal gel for testosterone replacement therapy in adult males diagnosed with hypogonadism. NATESTO was approved by the FDA in May 2014 for replacement therapy in adult men with conditions associated with deficiency or absence of endogenous testosterone, including primary hypogonadism or hypogonadotropic hypogonadism. NATESTO™ reduces the risk of transference via intranasal application.
06:59 EDTBABoeing to hit 737 production targets by 2018, Reuters says
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06:07 EDTBBRYStocks with implied volatility above IV index mean; BBRY CZR
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March 15, 2015
16:14 EDTBBRYBlackBerry collaborates with IBM, Samsung on SecuTABLET
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