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Stock Market & Financial Investment News

News Breaks
April 19, 2012
16:33 EDTEBAY, TUMI, TRV, GILD, GSK, SPLK, VZ, GNTX, HGSI, DD, BACOn The Fly: Closing Wrap
Stocks on Wall Street were lower, as disappointing economic data overshadowed earnings that were largely better than expected. Stock futures were higher in early trading but weakened following disappointing jobless claims data and a rumor the sovereign debt of France would lose its AAA rating. When the French rumor went unfounded the market moved higher, but just temporarily. The averages stalled again after existing home sales data for March showed a decline versus an expected increase but gathered once more to move back into positive territory. As the day progressed and the European markets closed lower, the averages lost any momentum they'd found and fell back into negative ground. For the remainder of the day the market drifted in the red as investors prepared for the next round of corporate earnings reports... ECONOMIC EVENTS: In the U.S., more jobless claims applications were filed than forecast, with the figure hitting 386,000. Sales of previously owned homes in March unexpectedly fell 2.6% to a 4.48M annual rate from 4.6M in February. Forecasts had called for an increase to 4.61M. In Europe, Spain was able to sell more bonds than expected but at higher yields, leaving mixed impressions among investors... COMPANY NEWS: Bank of America (BAC) posted Q1 adjusted results that beat consensus, but shares declined 1.68% to $8.77. Among other Dow components, Verizon (VZ) and Travelers (TRV) also reported earnings that exceeded expectations and both saw their shares rise following the reports, with Verizon gaining 1.30% to $38.15 and Travellers advancing 3.75% to $61.70. Du Pont (DD) was the fourth Dow name to beat on earnings, but shares fell 1.24% to $52.61... Meanwhile, data analysis software company Splunk (SPLK) and luxury luggage and briefcase maker Tumi Holdings (TUMI) both surged after debuting their IPOs on the Nasdaq. Splunk shares priced at $17 and ended the day at $35.48, while Tumi priced at $18 and closed at $26.50… MAJOR MOVERS: Among the notable gainers were Human Genome Sciences (HGSI), up $7, or 97.63%, to $14.17, after saying it had turned down an unsolicited $13 per share, or approximately $2.6B, buyout proposal from GlaxoSmithKline (GSK), and eBay (EBAY), up $4.75, or 13.24%, to $40.62, as the company’s sales and profits beat analyst estimates, led by growth in its PayPal online payments business. Noteworthy losers included Gentex (GNTX), down $4.07, or 16.01%, to $21.35, after its top-line miss continued to reinforce investor fears over slowing growth, and Achillion (ACHN), down $1.20, or 12.63%, to $8.30, with the decline attributed by Wells Fargo to positive data for Gilead's (GILD) oral hepatitis C combination treatment… INDICES: The Dow lost $68.65, or 0.53%, to 12,964.10; the Nasdaq fell $23.89, or 0.79%, to 3,007.56; and the S&P 500 dropped $8.22, or 0.59%, to 1,376.92.
News For BAC;VZ;TRV;DD;SPLK;TUMI;HGSI;GSK;EBAY;GNTX;GILD From The Last 14 Days
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December 8, 2014
13:32 EDTGSKEpizyme announces results for PRMT5 inhibitor
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10:02 EDTGILDGilead presents follow-up data from Zydelig registrational studies
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10:00 EDTEBAYOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Antero Resources (AR) upgraded to Buy from Neutral at Citigroup... Apache (APA) upgraded to Buy from Neutral at Citigroup... Applied Materials (AMAT) upgraded to Buy from Hold at Deutsche Bank... Arch Capital (ACGL) upgraded to Outperform from Market Perform at BMO Capital... CU Bancorp (CUNB) upgraded to Buy from Hold at Sandler O'Neill... Calpine (CPN) upgraded to Outperform from Neutral at Macquarie... Commerzbank (CRZBY) upgraded to Market Perform from Underperform at Keefe Bruyette... EastGroup Properties (EGP) upgraded to Neutral from Underperform at Credit Suisse... Enbridge Energy Management (EEQ) upgraded to Equal Weight at Morgan Stanley... Enbridge Energy (EEP) upgraded to Equal Weight from Underweight at Morgan Stanley... GasLog (GLOG) upgraded to Buy from Hold at Stifel... Hoegh LNG (HMLP) upgraded to Buy from Neutral at UBS... Illinois Tool Works (ITW) upgraded to Buy from Accumulate at Global Hunter... LaSalle Hotel (LHO) upgraded at Morgan Stanley... Lufthansa (DLAKY) upgraded to Buy from Neutral at Nomura... NASDAQ (NDAQ) upgraded to Outperform from Market Perform at Keefe Bruyette... Newfield Exploration (NFX) upgraded to Buy from Neutral at Citigroup... Omega Healthcare (OHI) upgraded to Buy from Hold at Jefferies... Orange SA (ORAN) upgraded to Conviction Buy from Neutral at Goldman... SM Energy (SM) upgraded to Outperform from Market Perform at BMO Capital... Southwest (LUV) upgraded at Goldman... TSMC (TSM) upgraded to Buy from Neutral at BofA/Merrill... United Technologies (UTX) upgraded at Bernstein... eBay (EBAY) upgraded to Buy from Hold at Stifel.
06:35 EDTBACValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:10 EDTEBAYeBay upgraded to Buy from Hold at Stifel
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December 5, 2014
11:45 EDTGNTXGentex announces two-for-one stock split effected as 100% dividend
Gentex Corporation announced a two-for-one stock split effected in the form of a 100% common stock dividend entitling each shareholder of record to receive one additional share of common stock for each outstanding share of the company's common stock, par value 6c per share. This stock dividend will be issued on December 31 to shareholders of record at the close of business on December 17. The company's recently announced quarterly cash dividend of 16c per share payable on January 20, 2015, to shareholders of record at the close of business on January 7, 2015, will now be 8c to reflect the above-described stock dividend. In addition, the company announced that it has repurchased approximately 547,175 shares of its common stock during the current quarter for approximately $20M, from the beginning of such quarter, through the date of the release.
11:23 EDTBACOption volume leaders
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09:36 EDTGILD, BACActive equity options trading
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07:37 EDTGILDGilead price target raised to $121 from $110 at JPMorgan
JPMorgan raised its price target for Gilead shares to $121 saying the company's potential cash flow generation is "immense" and provides "significant strategic flexibility." The firm estimates Gilead can generate more than $30B in cash in the next two years and $80B-plus over the next five years. It keeps an Overweight rating on the stock.
06:18 EDTEBAYStocks with implied volatility above IV index mean; NQ EBAY
Stocks with implied volatility above IV index mean; NQ Mobile (NQ) 144, eBay (EBAY) 20 according to iVolatility.
06:04 EDTGSKGSK won't pursue divestment of certain brands in established products portfolio
As announced at the company’s Q2 results in July, GSK started a process to consider the divestment of certain North American and European brands in its Established Products Portfolio.The company has evaluated all bids received and has concluded, consistent with its key criteria of maximizing shareholder value, not to pursue divestment of these products.
December 4, 2014
10:08 EDTGNTXOn The Fly: Analyst Upgrade Summary
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09:01 EDTGILDVA negotiated $594 per dose price for Gilead HCV treatment
A Veterans Health Administration official told a Senate committee yesterday that Veterans' Affairs has "moved rapidly to deploy new, more effective, less toxic HCV treatments and has been able to negotiate significant discounts for these newer therapies." The agency negotiated a price of $594 per dose for Gilead's (GILD) Hepatitis C virus drug Sofosbuvir, below the commercial price of $1,000 per dose, VHA Chief Consultant for Pharmacy Benefits Management Michael Valentino told the Senate's Committee on Veterans' Affairs. The agency also received a $413 per dose price for Johnson & Johnson's (JNJ) Simeprevir, below the commerical price of $790. The VA has approximately 174,000 veterans in care with HCV, making it the largest single HCV provider in the U.S., Valentino pointed out. He added, "Like the rest of the country, VA has treated only a portion of Veterans for HCV because treatment and cures have been difficult to achieve due to low efficacy and high toxicity of standard drug therapies." Reference Link
08:10 EDTVZDuPont Fabros and Verizon expand relationship with Virginia data center
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07:32 EDTGNTXGentex upgraded at KeyBanc
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07:17 EDTEBAYFBR Capital to hold a bus tour
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07:16 EDTBACConsumer Federation of America to hold a conference
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06:04 EDTGNTXGentex upgraded to Buy from Hold at KeyBanc
06:02 EDTBACStocks with implied volatility movement; BAC AMZN
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05:23 EDTVZVerizon, Cox reavh agreement to restore Fox 25 to FiOS TV
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