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News Breaks | | | | April 10, 2012 | | 16:19 EDT |  | XRIT, STD, BBY, JAG, BCS, UNCFF, OPTR, DHR, DB, SNE, VPHM | On The Fly: Closing Wrap
Stocks on Wall Street were sharply lower, with the Dow falling over 200 points for the session. Equity futures were quiet in the pre-market trading session leading to a relatively flat open for the broader market. The averages picked up momentum to the downside following the wholesale inventories report for the month of February. The selling picked up in earnest around midday, with the averages eventually tacking on losses of more than 1.5%. The buyers may have been sitting on the sideline waiting to see how the earnings season begins tonight when Alcoa (AA) reports... ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index fell to 92.5 in March. Wholesale inventories rose 0.9% in February, versus analysts' expectations for an increase of 0.5%. In China, an unexpected $5.35B trade surplus was reported for March, as imports rose 5.3% and exports increased 8.9% from a year ago. In Europe, the yield on Spanish 10-year bonds rose to nearly 6% despite the government's plans for additional budget cuts and local media reports in Italy pointed toward its government cutting its 2012 growth forecasts... COMPANY NEWS: Best Buy (BBY) said it came to "a mutual agreement" with CEO Brian Dunn that new leadership was needed, prompting Dunn to resign. Shares initially spiked on the news, then reversed to close down $1.33, or 5.87%, to $21.32... Sony (SNE) cut its outlook for the fourth time in less than a year, more than doubling its projected annual loss to $6.4B. The warning sent its stock tumbling $1.86, or 9.25%, to $18.24... Shares of a number of European banks fell with fears about the debt crisis in Europe coming back to the forefront. Unicredit (UNCFF) sank 6.82%, Banco Santander (STD) dropped 3.85%, Deutsche Bank (DB) declined 3.29%, and Barclays (BCS) slid 5.31%... MAJOR MOVERS: Among the notable gainers were X-Rite Incorporated (XRIT), up $1.54, or 38.50%, to $5.54, on news Danaher (DHR) will acquire the company for $5.55 per share, and Jaguar Mining (JAG), up 57c, or 14.11%, to $4.61, on speculation of a takeover bid after shares of China Shandong Gold, which had previously tried to buy the miner, were halted for trading overseas. Noteworthy losers included ViroPharma (VPHM), down $6.17, or 21.57%, to $22.44, after the FTC opened an investigation into the company and several competitors launched generic versions of its Vancocin drug, and Optimer Pharmaceuticals (OPTR), down $1.37, or 9.99%, to $12.35, following a warning that Q1 revenue will miss consensus... INDICES: The Dow fell 213.66, or 1.65%, to 12,715.93; the Nasdaq dropped 55.86, or 1.83%, to 2,991.22; and the S&P 500 lost 23.61, or 1.71%, to 1,358.59. | |
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News For BBY;SNE;UNCFF;STD;DB;BCS;XRIT;DHR;JAG;VPHM;OPTR From The Last 14 Days Check below for free stories on BBY;SNE;UNCFF;STD;DB;BCS;XRIT;DHR;JAG;VPHM;OPTR the last two weeks. |
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| May 19, 2013 | | 14:49 EDT |  | SNE | Microsoft set to unveil new Xbox amid stiff competition, Reuters says
Facing stiff competition from Sony's (SNE) PlayStation 4 and the Wii U by Nintendo (NTDOY), Microsoft (MSFT) is set to unveil its new Xbox game console, says Reuters. Reference Link | | | May 17, 2013 | | 13:23 EDT |  | SNE | Sony to host conference call
 Subscribe for More Information | | | 12:00 EDT |  | BBY | Stocks with call strike movement; FSLR BBY
Subscribe for More Information | | | May 16, 2013 | | 13:05 EDT | | SNE | Spending on Apple, Android video games jumped in Q1, AllThingsD says
In the first quarter spending on video games for Apple (AAPL) and Android devices increased significantly versus the previous quarter, while spending on video games for traditional handheld consoles fell meaningfully, research firms IDC and App Annie found, according to AllThingsD. Consumers spent three times more on games for smartphones and tablets than on games for traditional handheld consoles last quarter, the website stated. Reference Link | | | 12:32 EDT | | DB, BCS | EU bank stress test delayed until 2014 by regulator
The EBA agreed on recommendations to supervisors to conduct asset quality reviews on major EU banks. While banks’ capital positions were significantly strengthened under the EBA’s recapitalisation exercise, the objective of the asset quality exercises will be to review banks’ classifications and valuations of their assets so to help dispel concerns over the deterioration of asset quality due to macroeconomic conditions in Europe. Since appropriately reviewed balance sheets are a key input to an effective stress test, the EBA has also adjusted the timeline of the next EU-wide stress test so to conduct the exercise in 2014 once the asset quality reviews are completed. However, to ensure transparency and comparability over the years, the EBA will provide, in 2H, appropriate disclosure on the actual exposures of the EU banking sector. Reference Link | | | 11:37 EDT | | BBY | Stocks with call strike movement; AMD BBY
AMD (AMD) October 4.5 call volatility increased 4% to 58, Best Buy (BBY) June 30 call option implied volatility increased 3% to 63 according to IVolatility. | | | 10:21 EDT | | BBY | Best Buy volatility elevated shares near one-year high into Q1
Best Buy May weekly call option implied volatility is at 71, June is at 61, July is at 55, September is at 51 of 50 is above its 26-week average of 59 according to Track Data, suggesting large near term price movement into the expected release of Q1 earnings on May 20. | | | 09:42 EDT |  | BBY | Best Buy estimates lowered at ITG Research
Subscribe for More Information | | | 08:39 EDT | | DB | Hartford Financial hires Deutsche to find buyer for Japan unit, Bloomberg says
Hartford Financial Services (HIG) engaged Deutsche Bank (DB) to seek a buyer for its Japanese annuity unit, according to Bloomberg, citing people with knowledge of the matter. Reference Link | | | May 15, 2013 | | 16:00 EDT | | OPTR | Optimer calls active following takeover report
Optimer (OPTR) May and June 17 calls are active on 5,600 contracts (500 puts) according to Track Data. Traders are taking positions for large price movement on Cubist (CBST) offered to buy the company for $20 per share, Reuters says. | | | | 15:54 EDT |  | OPTR | Optimer up 12.5%, to $16.03 after Reuters report Cubist offered $20 per share
Subscribe for More Information | | | 15:53 EDT | | OPTR | Cubist offered to buy Optimer for $20 per share, Reuters says
Subscribe for More Information | | | 15:12 EDT | | SNE | Sony volatility up on Daniel Loeb’s attempt to split up company
Subscribe for More Information | | | 11:45 EDT | | BBY | Stocks with call strike movement; JCP BBY
Subscribe for More Information | | | 09:44 EDT | | BBY | Best Buy Q1results likley below consensus, says Wedbush
Wedbush expects Best Buy to report Q1 pro-forma results below consensus due to the reclassification of Best Buy Europe as discontinued operations. The firm expects Best Buy's cash flow to decline and continued margin erosion to result in lower earnings. The firm rates shares an Underperform with a $9 price target. | | | 07:11 EDT | | SNE | Japan's electronic manufacturers under siege, WSJ reports
After a miserable past few years, Japan's once-powerful electronics manufacturers (SNE, SHCAY), already reeling from unprecedented losses stemming from its lost standing in the technology world, are grappling with outside investors and fed-up creditors looking to break the cozy and insular bonds that were once a hallmark of the country's corporate sector, reports the Wall Street Journal.Reference Link | | | 06:08 EDT | | SNE | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | 05:56 EDT | | SNE | Stocks with implied volatility movement; SNE DDD
Subscribe for More Information | | | May 14, 2013 | | 18:50 EDT | | SNE | Sony options action elevated ahead of Loeb stake, Reuters says
A report from Reuters says that volume in Sony options on Monday, ahead of Tuesday's disclosure by Dan Loeb of a 6.5% stake in the company, traded at more than seven times the average daily volume for the last three months. The report says nearly 10,000 June $19 calls were bought on Monday for 87c on average, calls that were worth $2.20 during today's session. Reference Link | | | 16:23 EDT | | SNE | On The Fly: Closing Wrap
Stocks on Wall Street were higher on a Tuesday again, keeping the strange "Tuesday in 2013" streak alive. Some positive domestic economic data and bullish commentary from Appaloosa Management's David Tepper set the tone early and the averages traded with an upward bias for almost the entire trading day. Today's advance means that every Tuesday this year has seen the market log gains, and investors will have to wait another week to see if the pattern continues. ECONOMIC EVENTS: The NFIB small business optimism index for April rose to 92.1, versus expectations for it to climb to 90.3 from its prior 89.5 reading. Import prices were reported to have declined 0.5% in April, which was in-line with expectations. Export prices declined 0.7%, versus a forecast for a 0.1% drop in the month. COMPANY NEWS: Dell (DELL) shares lost 6c, or 0.44%, to $13.46 after Dow Jones said the company will report first quarter non-GAAP earnings of 20c per share, 15c below current consensus estimates. That followed an earlier report from CNBC's David Faber, who also said the company will report earnings that miss expectations and accurately called that Dell has moved its report to Thursday, which is earlier than had been expected... Sony (SNE) shares added $1.87, or 9.9%, but closed off their best levels at $20.76 after the New York Times reported that Dan Loeb of Third Point has built a 6.5% stake and proposes that the company take its entertainment unit public. MAJOR MOVERS: Among notable gainers was InterOil (IOC), up $7.46, or 9.57%, to $85.39 after reporting its earnings and saying its talks with "major oil companies and a national oil company" about a potential LNG partnership are in the final stages. Also higher was SodaStream (SODA), up $6.79, or 11.85%, to $64.08 after at least two analyst firms raised their price target on shares following yesterday's analyst day presentations. Among noteworthy losers was Solar City (SCTY), down $4.44, or 12.37%, to $31.44 after the company's first quarter earnings missed expectations and the stock was downgraded by at least two firms. Also lower was Velti (VELT), down 29c, or 14.5%, to $1.71 after its revenue outlook fell below estimates. INDICES: The Dow was up 123.57, or 0.82%, to 15,215.25; the Nasdaq was up 23.82, or 0.69%, to 3,462.61; and the S&P 500 was up 16.57, or 1.01%, to 1,650.34. | | |
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