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Stock Market & Financial Investment News

News Breaks
March 28, 2014
12:16 EDTBBRY, IDRA, CBSO, RHT, CBS, PCG, RHOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the market looks to finish a relatively down week on an up note. The Nasdaq average, which has been down after all but one session this week, is reversing the trend and leading the other averages near noon. ECONOMIC EVENTS: In the U.S., personal income and consumer spending both rose 0.3% in February, matching expectations. The core PCE price index rose 0.1% in the month, which was also in-line with estimates. The final University of Michigan consumer sentiment reading for March came in at 80.0, which was down from February's 81.6 reading and a bit below expectations. In Europe, an index of executive and consumer sentiment rose to 102.4 in March from 101.2 in February, beating the consensus estimate of economists. COMPANY NEWS: Shares of beleaguered smartphone maker BlackBerry (BBRY) initially advanced after the company reported quarterly losses that were not as bad as analysts expected, excluding certain adjustments. BlackBerry said about 3.4M of its smartphones were sold through to end customers in the quarter, which included about 2.3M BlackBerry 7 devices. The company also said it continues to look for opportunities to streamline operations and is targeting break even cash flow results by the end of fiscal 2015. By midday the stock had given up all its early session gains to be down about 2%... CBS (CBS) rose more than 1% after the successful initial public offering of its outdoor advertising subsidiary CBS Outdoor Americas (CBSO). After the offering, CBS owns approximately 83% of CBS Outdoor, which plans to convert into a real estate investment trust later this year. The IPO priced at $28.00 per share and the new stock began trading at $30.10 in its debut this morning. MAJOR MOVERS: Among the notable gainers was home furnishing retailer Restoration Hardware (RH), which rose 12% after the company’s first quarter profit view beat estimates. Also higher were shares of Idera Pharmaceuticals (IDRA), which rose 11% after the company's Phase 2 trial of its treatment for moderate-to-severe plaque psoriasis met its primary objective. Among the noteworthy losers was PG&E Corporation (PCG), which dropped 4% after reporting that they expect that the federal government will bring criminal charges against the utility in connection with the 2010 San Bruno natural gas transmission pipeline accident. Following the announcement the stock was downgraded this morning at Deutsche Bank and Citigroup. Also lower was open source software provider Red Hat (RHT), which fell over 4% after the company’s profit outlook trailed analysts’ consensus estimate. INDEXES: Near midday, the Dow was up 124.94, or 0.77%, to 16,389.17, the Nasdaq was up 40.21, or 0.97%, to 4,191.44, and the S&P 500 was up 15.11, or 0.82%, to 1,864.15.
News For BBRY;CBS;CBSO;RH;RHT;IDRA;PCG From The Last 14 Days
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January 30, 2015
06:45 EDTBBRYEvercore CEO says bankers bring lots of presentations to companies
Evercore CEO Ralph Schlosstein, when asked on CNBC about whether his private equity firm ran an analysis for Samsung (SSNLF) regarding a potential acquisition of BlackBerry (BRRY), said bankers bring lots of potential acquisitions to companies. He added that often times management of the potential acquirers are not even aware of what reports they will be getting. Schlosstein did not specifically comment on Samsung. It has been reported that Evercore explored the merits of a potential Blackberry for Samsung.
January 29, 2015
08:27 EDTCBSCBS and Bell Media sign long-term agreement for Showtime in Canada
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January 26, 2015
11:33 EDTBBRYStocks with call strike movement; PBR BBRY
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January 23, 2015
16:55 EDTBBRYMarket ends week higher after ECB announces bond purchase plan
Stocks finished higher for the week after the European Central Bank unveiled a larger than expected bond buying plan and earnings season in the U.S. picked up steam. MACRO NEWS: The European Central Bank announced that it would buy EUR 60B of government and private bonds per month through September 2016. Reports before the ECB's official announcement had suggested that the central bank would buy EUR 50B of bonds per month... On a negative note, the International Monetary Fund cut its 2015 global growth outlook to 3.5% from 3.8%... U.S. economic data was mixed, as weekly jobless claims and sales of existing homes in December were worse than expected, but the index of leading economic indicators and new housing permits for December came in above the consensus outlook. COMPANY NEWS: Netflix (NFLX), Starbucks (SBUX), firearm maker Smith & Wesson (SWHC), and Southwest Airlines (LUV) were among the companies whose stocks rose following their results and guidance. On the other side of the ledger, Johnson & Johnson (JNJ), IT management solution provider CA Technologies (CA), UPS (UPS), and application delivery networking products maker F5 Networks (FFIV) were among the companies that fell after they reported their earnings or updated their financial outlooks... M&A reports moved a number of stocks this week. The Financial Post reported that Samsung (SSNLF) had hired investment bank Evercore (EVR) to evaluate a purchase of the troubled Canadian company. Samsung is still considering purchasing BlackBerry (BBRY), the newspaper added. However, Canada's BNN reported that Evercore said that Samsung has not been a recent client of theirs and that they prepare ideas "routinely" on their "own accord." Avon (AVP) has held talks about a potential sale to private equity firm TPG Capital, dealReporter stated. Bloomberg reported that online travel agency Orbitz Worldwide (OWW) is working with an adviser to contact potential buyers and has drawn interest from private-equity funds and other Internet companies... DreamWorks Animation (DWA) tumbled after announcing a new strategic plan that will see it cut its feature production from three films per year down to two and axe about 500 jobs. INDEXES: For the week, the Dow dipped 0.37% to 17,672.60, the Nasdaq rose 1.14% to 4,757.88, and the S&P gained 0.34% to 2,051.82.
11:36 EDTBBRYStocks with call strike movement; PBR BBRY
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09:34 EDTBBRYBlackBerry up 1.5% in early trading as Reuters correct prior story
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05:51 EDTBBRYStocks with implied volatility movement; BBRY UPL
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January 22, 2015
15:04 EDTBBRYSamsung still weighing BlackBerry deal, Financial Post says
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14:56 EDTBBRYBlackBerry off highs after Evercore said to deny prepping Samsung report
Shares of BlackBerry (BBRY) remain up 8% near $10.74 in afternoon trading, but are off their earlier session high of $11.11, after BNN's Amber Kanwar reported that Evercore (EVR) tells BNN that Samsung (SSNLF) has not been a recent client of theirs and that they prepare ideas "routinely" on their "own accord." The BNN report follows an earlier story from Canada's Financial Post that claimed that Evercore Partners produced a 40 page analysis of the advantages and disadvantages to Samsung of acquiring all or part of BlackBerry on behalf of the Korean smartphone maker.
14:52 EDTBBRYEvercore says Samsung not a recent client, BBN reports
Evercore (EVR) tells BNN that Samsung (SSNLF) has not been a recent client of theirs and that they prepare ideas "routinely" on their "own accord," said BNN's Amber Kanwar on Twitter. Reference Link
14:00 EDTCBSCBS initiated with a Hold at Societe Generale
Target $60.
12:28 EDTBBRYOn The Fly: Midday Wrap
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10:42 EDTBBRYBlackBerry jumps after report says Samsung analyzed takeover
An investment bank hired by Samsung prepared a detailed analysis of a potential acquisition of all or part of BlackBerry (BBRY) by the South Korean company, The Financial Post reported. WHAT'S NEW: In the fourth quarter of last year, Evercore Partners produced a 40 page analysis of the advantages and disadvantages to Samsung of acquiring all or part of BlackBerry, according to The Financial Post. The document also laid out various strategies that Samsung could use to make such a deal, and obstacles that could prevent the deal from occurring, the newspaper stated. Acquiring a minority stake would have many advantages for Samsung, the newspaper quotes the document as saying. However, it questions whether Samsung could achieve its key objectives if it only holds a minority stake in BlackBerry. The Canadian company's software appears to be complementary to that of Samsung, but further analysis must be conducted on that issue, Evercore stated, according to The Financial Post. The document suggested that Evercore could ask Fairfax Financial (FRFHF), a major BlackBerry shareholder, to help facilitate a deal. WHAT'S NOTABLE: After attending meetings with BlackBerry CFO James Yersh, Wells Fargo estimated that BlackBerry's QNX subsidiary, which develops software for automobiles, is already generating about 40% of the $500M of total annual software revenue that BlackBerry has targeted. Many analysts have questioned whether BlackBerry could meet this target. The firm also stated that BlackBerry will unveil "an iconic device" in early March. However, Yersh acknowledged that Q4 would be a transition quarter, while many investors remain cautious about BlackBerry, Wells stated. The firm has a neutral rating on the shares. PRICE ACTION: In mid-morning trading, BlackBerry surged 8.5% to $10.80.
08:28 EDTBBRYBank document shows Samsung still pursuing BlackBerry, Financial Post says
Samsung (SSNLF) continues to pursue acquisition of BlackBerry (BBRY), reports the Financial Post, citing an investment bank document and a source with knowledge of the plan. Prepared by Evercore Partners in 4Q14, the document hints at only a partial takeover, notes that Lenovo (LNVGY) may compete with Samsung for the company, cites BlackBerry's operating system and Messenger as potential divestitures, adds that Samsung could offset $50M in taxable income, and suggests Samsung start by approaching Fairfax Financial about acquiring a minority stake. Reference Link
05:56 EDTBBRYStocks with implied volatility below IV index mean; BBRY ARNA
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January 21, 2015
10:39 EDTBBRYBlackBerry off lows as Chinese language report on suitors circulates
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05:58 EDTBBRYStocks with implied volatility below IV index mean; BBRY ARNA
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January 20, 2015
06:08 EDTBBRYStocks with implied volatility below IV index mean; BBRY ARNA
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January 19, 2015
07:45 EDTBBRYSamsung wants BlackBerry partnership, not takeover, WSJ reports
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January 18, 2015
13:25 EDTCBSNFL, CBS renew agreement for Thursday Night Football
The National Football League will continue its partnership with CBS to produce and televise Thursday Night Football for the 2015 season, it was announced by NFL Commissioner Roger Goodell and Leslie Moonves, president and CEO of CBS Corp., and Sean McManus, Chairman, CBS Sports. CBS will broadcast the first eight Thursday Night Football games which also will be simulcast on NFL Network. NFL Network will also exclusively televise eight games in the run-up to the playoffs. The mix of games will include 14 on Thursday nights and two late-season games on Saturday. The full slate of 16 regular-season games will be produced by CBS with its lead broadcasters and production team on all Thursday night games. The pregame, halftime and postgame shows will continue to feature NFL Network and CBS Sports hosts and analysts. The agreement is for the 2015 season with an additional year at the NFL’s option. “We are pleased to extend our partnership with CBS for Thursday Night Football,” said Goodell. “The promotion and production by CBS and NFL Network last season made Thursday night a night for NFL football. We look forward to working again next season with CBS. ”The programming relationship between the NFL and CBS will expand to include, among other elements, the development of new programming initiatives across the various CBS and NFL platforms. In addition to Thursday Night Football in 2015, CBS will conclude its 56th year broadcasting the NFL with its exclusive presentation of Super Bowl 50 from Levi's Stadium in Santa Clara, Calif. on Feb. 7, 2016. Reference Link

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