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Stock Market & Financial Investment News

News Breaks
January 29, 2014
09:26 EDTBA, BKU, FSL, CRUS, EMC, ONVO, MDVN, YHOO, EA, T, DOW, PGNXOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 6%... Electronic Arts (EA), up 2.5%... Freescale (FSL), up 13%. ALSO HIGHER: Medivation (MDVN), up 13% after Phase 3 PREVAIL trial with Astellas Pharma (ALPMY) of enzalutamide showed significant benefits in OS... Organovo (ONVO), up 16% after announcing first delivery of 3D liver tissue. DOWN AFTER EARNINGS: Boeing (BA), down 4%... Yahoo (YHOO), down 6%... AT&T (T), down 3.5%... Tupperware Brands (TUP), down 7%... Hess (HES), down 1.4%... EMC (EMC), down 1%... ALSO LOWER: Cirrus Logic (CRUS), down 7.5% after reporting Q3 earnings that beat estimates but giving a Q4 revenue outlook that widely missed expectations... Progenics Pharmaceuticals (PGNX), down 18.5% after abstract for drug trial posted... BankUnited (BKU), down 1.4% after filing to sell 8M common shares for holders.
News For BA;DOW;T;EA;YHOO;MDVN;ONVO;EMC;CRUS;FSL;BKU;PGNX From The Last 14 Days
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October 15, 2014
07:32 EDTDOWUBM Canon to hold a conference
PLASTEC Midwest Conference is being held in Chicago on October 15-16.
06:40 EDTYHOOYahoo hires Kevin Gentzel as head of N.A. ad sales, CNet reports
Yahoo has hired Kevin Gentzel, the Washington Post's former chief revenue officer, as its new head of North American advertising sales, CNet reports. Gentzel will report to Ned Brody, the company's head of Americas. Reference Link
06:14 EDTEMCHP, EMC halt merger agreement discussions, Reuters says
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October 14, 2014
14:28 EDTYHOOYahoo hires former Washington Post Chief Revenue Officer to head sales, WSJ says
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08:08 EDTYHOOYahoo to close Amman, Jordan office by end of year, TechCrunch reports
Yahoo will close its office in Amman, Jordan by the end of the year, TechCrunch reports, citing a confirmed statement by a company spokesperson. The company will funnel its Arab-language and English-language Arab-focused Internet portal to an office in Dubai and other regions. A Yahoo spokesperson says the move is part of its "global efforts to streamline operations." Reference Link
October 13, 2014
16:55 EDTEMCEMC to acquire cloud-computing firm Cloudscaling, Bloomberg reports
EMC is acquiring cloud-computing startup Cloudscaling, which helps companies manage computers that are tied together by OpenStack, says Bloomberg Businessweek. The purchase price is less than $50M, added Bloomberg Businessweek. Reference Link
14:29 EDTBABoeing begins production on first 737 MAX parts
Boeing has started production of the first 737 MAX fuselage stringers at Boeing Fabrication Integrated AeroStructures in Auburn, Wash. Stringers run the length of the fuselage structure giving it stability and strength. After forming, Boeing will send the stringers to Spirit Aerosystems in Wichita, Kan. for incorporation into the first 737 MAX fuselage. From there the fuselage will be shipped to Boeing's Renton, Wash. facility where Boeing employees will build the 737 MAX. The program is on track to begin final assembly of the first 737 MAX in 2015. The airplane will be part of the flight test fleet and is scheduled to fly in 2016. The 737 MAX incorporates the latest technology CFM International LEAP-1B engines, Advanced Technology winglets and other improvements to deliver the highest efficiency, reliability and passenger comfort in the single-aisle market. The 737 MAX will be 14% more fuel-efficient than today's most efficient Next-Generation 737s and 20% better than the original Next-Generation 737s when they first entered service.
13:10 EDTYHOOGoogle's Schmidt says Amazon is company's biggest search rival, FT reports
Eric Schmidt, the executive chairman of Google (GOOG), says Amazon (AMZN) is his company's biggest rival in search, not Bing (MSFT) or Yahoo (YHOO), the Financial Times reports. Schmidt also argued in Berlin that Google should not be regulated "as if it were the gatekeeper of the internet," given the influence of Amazon and Facebook (FB). Reference Link
12:13 EDTYHOOYahoo upgraded as BGC sees higher chances for tax efficient monetization
Research firm BGC Partners upgraded its rating on Yahoo (YHOO) to Buy from Hold, saying that the chances of the company monetizing its assets in a more tax efficient manner have increased now that Alibaba (BABA) has come public. Among the possible scenarios, Yahoo may be acquired by Alibaba, the firm added. WHAT'S NEW: Yahoo's chances of paying a relatively low tax rate on the sale of its stakes in Alibaba and Yahoo Japan, a Japanese Internet company, have risen, BGC Financial analyst Colin Gillis stated. Yahoo could owe up to $15B of taxes on its sale of the assets, the analyst estimated. If Yahoo pays full tax liability, its stakes would be worth $43.5B. If it pays no taxes, the assets would be worth $58.5B, he estimated. Gillis set his price target on Yahoo at $50, representing the midpoint of the two scenarios, he stated. Among various scenarios that could play out, Alibaba could choose to buy Yahoo and subsequently unload Yahoo's core business and the American company's stake in Yahoo Japan, the analyst said. Yahoo shareholders could receive cash and shares of Alibaba as part of such a deal, Gillis stated. If Yahoo is not acquired by Alibaba, the American company should combine with AOL (AOL), as recently proposed by activist investor Starboard Value, Gillis contended. Merging with AOL could accelerate Yahoo's revenue growth by over 50% and increase its EBITDA by over 35%, Gillis estimated. PRICE ACTION: In early afternoon trading, Yahoo fell 1% to $39.18.
10:17 EDTBAEbola related weakness in aerospace stocks seen as buying opportunity
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10:08 EDTYHOOOn The Fly: Analyst Upgrade Summary
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09:28 EDTYHOOYahoo upgraded to Buy from Hold at BGC Financial
BGC Financial analyst Colin Gillis upgraded his rating on Yahoo (YHOO) shares to Buy saying the company's remaining assets should get monetized in a more tax efficient manner now that Alibaba (BABA) is public. Gillis also points out that Alibaba could see benefits from acquiring Yahoo. He raised his price target for Yahoo shares to $50 from $37.
07:26 EDTBACommercial aerospace stocks should be bought on any weakness, says Wells Fargo
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07:15 EDTDOW, EMCNational Association of Corporate Directors to hold a conference
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06:46 EDTFSLFreescale downgraded to Sector Perform from Outperform at Pacific Crest
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October 12, 2014
19:41 EDTBABoeing and Garuda Indonesia announce $4.9B order
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October 10, 2014
18:51 EDTBADOJ orders Boeing to pay $23M to resolve False Claims Act allegations
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10:01 EDTEMCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
10:01 EDTEAOn The Fly: Analyst Upgrade Summary
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07:59 EDTEAElectronic Arts upgraded to Buy from Hold at Benchmark Co.
Benchmark Co. upgraded Electronic Arts to Buy with a $42.50 price target saying the company's upcoming Q2 results will likely beat expectations and drive share upside.
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