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Stock Market & Financial Investment News

News Breaks
June 19, 2014
12:32 EDTBBRY, COH, RHT, KR, PIR, MEAS, TELOn The Fly: Midday Wrap
Stocks on Wall Street were slightly lower at midday after drifting in a narrow range throughout the morning. The S&P 500 did manage to hit a new all-time high again early in the session following a mixed bag of domestic economic data, but the major averages had all moved back into negative ground, but only narrowly, near noon. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 6K to 312K last week, which was nearly in-line with expectations. The Philly Fed manufacturing index rose 2.4 points to 17.8 in June, which was better than expected. The leading economic indicator index for May rose 0.5%, which was slightly below the consensus forecast for it to have grown 0.6%. COMPANY NEWS: Shares of BlackBerry (BBRY) climbed more than 11% after the company reported stronger than expected first quarter results and said that it had recognized revenue on more handsets in Q1 than in the previous quarter. BlackBerry reported a loss per share, excluding certain items, of (11c), versus analysts' consensus estimate of a (26c) per share loss and the company's revenue came in slightly higher than expected. Moreover, it said that it was close to reaching the breakeven point on hardware sales and added that it expects its subscriber numbers to be steady going forward. BlackBerry should be profitable sometime in fiscal 2016, the company's CEO, John Chen, stated. MAJOR MOVERS: Among the notable gainers was Measurement Specialties (MEAS), which advanced 10.5% after announcing last night that it has agreed to be acquired by TE Connectivity (TEL) for $86 cash per share, or a total transaction value of approximately $1.7B including the assumption of debt. Shares of TE Connectivity trading in New York were also up 1% following the news. Also higher following their earnings reports were supermarket operator Kroger (KR), which rose nearly 6%, and open source software provider Red Hat (RHT), which gained about 3%. Among the noteworthy losers was luxury handbag maker Coach (COH), which dropped more than 9% after stating at its investor day meeting that it expects to sees revenue decline by a "low double digit" percentage in FY15. Also lower was home furnishings retailer Pier 1 Imports (PIR), which dropped 13% and hit a fresh 52-week low after the company's first quarter results missed analysts' consensus estimates and it cut its fiscal 2015 earnings per share outlook. INDEXES: Near midday, the Dow was down 23.15, or 0.14%, to 16,883.47, the Nasdaq was down 7.99, or 0.18%, to 4,354.84, and the S&P 500 was down 1.12, or 0.06%, to 1,955.86.
News For BBRY;COH;RHT;KR;PIR;MEAS;TEL From The Last 14 Days
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October 21, 2014
05:51 EDTBBRYStocks with implied volatility movement; TLM BBRY
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October 20, 2014
11:59 EDTBBRYBlackBerry calls active on Lenovo may make bid report
Blackberry October weekly 10 and 11 calls are active 38K contracts (8K puts) on Lenovo may make $15 per share BlackBerry bid shortly, Benzinga says. October weekly call option implied volatility is at 75, November is at 63, December is at 61; compared to its 26-week average of 56 according to Track Data. Active call volume suggests traders taking positions for large near term price movement.
11:10 EDTBBRYLenovo may make $15 per share BlackBerry bid shortly, Benzinga says
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06:04 EDTBBRYAcacia Research subsidiary enters into agreement with BlackBerry
Acacia Research announced that its Cell and Network Selection subsidiary entered into an agreement with Blackberry Corporation and Blackberry Limited (BBRY). The agreement resolved litigation that was pending between Cell and Network Selection and Blackberry in the U.S. District Court for the Eastern District of Texas.
06:03 EDTBBRYBlackBerry implied volatility of 51 at lower end of index mean range
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October 17, 2014
06:46 EDTBBRYBlackBerry implied volatility of 55 at lower end of index mean range
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October 16, 2014
08:01 EDTRHTRed Hat, Cloudera announce alliance to deliver enterprise software solutions
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06:09 EDTBBRYBlackBerry implied volatility of 56 at lower end of index mean range
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October 13, 2014
07:46 EDTBBRYBlackBerry second half hardware estimates lowered at Canaccord
Canaccord lowered its second half of 2015 hardware estimates for Blackberry after surveys show limited availability of its new Passport smartphone. The firm, however, expects improving trends and believes Blackberry will achieve its target of reaching break-even cash low levels. Canaccord maintains its Hold rating and $10 price target on Blackberry shares.
October 10, 2014
06:33 EDTTELTE Connectivity resumed with a Buy at Citigroup
Citigroup believes TE Connectivity's growth story remains intact and it recommends buying the stock on the recent weakness. It resumed shares with a Buy rating and $70 price target, down from its previous target of $73.
October 9, 2014
17:20 EDTMEAS, TELUS Ecology to replace Measurement Specialties in S&P 600 as of 10/13 close
S&P 500 constituent TE Connectivity Ltd. (TEL) is acquiring Measurement Specialties (MEAS) in a deal expected to be completed soon.
09:41 EDTCOHBofA/Merrill retail analysts hold an analyst/industry conference call
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October 8, 2014
15:11 EDTMEAS, TELMeasurement Specialties says TE receives final regulatory approval for merger
Measurement Specialties (MEAS) disclosed in a regulatory filing that on October 8 the company and TE Connectivity (TEL) were notified that the French Ministry for Economy and Finance had authorized the proposed transaction. This authorization satisfies the final regulatory approval required for closing, the company noted. The company and TE currently expect to close their merger transaction within the next two business days.

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