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Stock Market & Financial Investment News

News Breaks
August 14, 2014
17:41 EDTBHI, VRX, HES, WLL, WFTPoint72 Asset Management gives quarterly update on stakes
NEW STAKES: Baker Hughes (BHI), Whiting Petroleum (WLL), Valeant (VRX), Weatherford (WFT), and Hess (HES).
News For BHI;WLL;VRX;WFT;HES From The Last 14 Days
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November 13, 2014
18:40 EDTBHIOn The Fly: After Hours Movers
UP AFTER EARNINGS: TubeMogul (TUBE), up 12.4%... Weibo (WB), up 3.2%... Nordstrom (JWN), up 3.1%. ALSO HIGHER: Geron (GERN), up 30.7% after announcing a global strategic collaboration with Janssen Biotech... Baker Hughes (BHI), up 16.2% following reports that the company is in talks to be acquired by Halliburton (HAL)... Halliburton is up 1.4%... Pandora (P), up 4% after announcing a conference call to discuss Web IV proceeding... AmerisourceBergen (ABC), up 1.1% after being awarded a $4.06B government contract. DOWN AFTER EARNINGS: Retrophin (RTRX), down 6.6%... Phoenix New Media (FENG), down 8.4%... Voxeljet AG (VJET), down 8.6%... Intrexon (XON), down 1.1%... Youku Tudou (YOKU), down 5.7%... Applied Materials (AMAT), down 2.5%. ALSO LOWER: Puma Biotechnology (PBYI), down 6.9% following PB272 Phase II Trial results... EnLink Midstream (ENLK), down 4.8% after filing to sell 10.5M common units representing limited partners.
18:33 EDTBHIBaker Hughes confirms preliminary discussions with Halliburton
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16:36 EDTBHIOn The Fly: Closing Wrap
Stocks on Wall Street saw another day of relatively quiet trading in a tight range, but the major averages once again finished the session higher than where they'd began. The Dow, powered by the post-earnings advance from Wal-Mart (WMT), led and closed at a new all-time high for the third time in the last four days. ECONOMIC EVENTS: In the U.S., initial jobless claims rebounded 12K to 290K in the week ending November 8, versus expectations for 280K first-time claims. The Job Openings and Labor Turnover Survey, or JOLTs report, showed job openings fell to 4.335M in September, versus the consensus forecast for 4.8M openings. The Treasury reported a $121.7B budget deficit for October, versus the consensus deficit forecast of $117B. COMPANY NEWS: Wal-Mart led the Dow, advancing $3.74, or 4.72%, to $82.94 after the world's largest retailer's earnings beat expectations and it reported U.S. comparable store sales grew 0.5% during the just-completed quarter... Warren Buffett’s Berkshire Hathaway (BRK.A) agreed to acquire the Duracell battery business from Procter and Gamble (PG) via a stock swap. In exchange for a recapitalized Duracell company, which will include approximately $1.7B in cash at closing, P&G will receive shares of its own common stock currently held by Berkshire having a current value of approximately $4.7B, the companies announced. Shares of Procter & Gamble, which also guided to FY15 core EPS growth in a mid-single digit percentage range, fell 88c, or 0.98%, to $88.60 after the deal was announced and guidance was issued. MAJOR MOVERS: Among the notable gainers was Baker Hughes (BHI), which surged $7.77, or 15.24%, to $58.75 after The Wall Street Journal said the company is in fast-moving talks to be acquired by larger peer Halliburton (HAL), which also rose 56c, or 1.05%, to $53.79 following the report. Also higher was DreamWorks Animation (DWA), which jumped $3.15, or 14.08%, to $25.52 after several media outlets reported that the animated movie maker company was in talks about selling itself to toy maker Hasbro (HAS). Hasbro shares fell $2.49, or 4.33%, to $54.98 following the reports. Also lower were shares of Revance (RVNC), which fell $4.93, or 23.48%, to $16.07 after the company said last night that the preliminary results from its ongoing open-label study suggest it still has "some work to do" to increase the probability of success for its upcoming Phase 3 pivotal program for RT001. INDEXES: The Dow rose 40.59, or 0.23%, to 17,652.79, the Nasdaq gained 5.01, or 0.11%, to 4,680.14, and the S&P 500 added 1.08, or 0.05%, to 2,039.33.
16:01 EDTBHIBaker Hughes calls active on consolidation reports
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15:53 EDTBHIBaker Hughes gaps up after trading halt
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15:51 EDTBHIHalliburton calls active on talks to acquire Baker Hughes, reports
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15:45 EDTWFT, BHIHalliburton, Baker Hughes in fast-moving merger talks, WSJ reports
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15:37 EDTBHIBaker Hughes jumps 1.3%, halted for volatility after report on Halliburton talks
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15:37 EDTBHIHalliburton in fast-moving talks to acquire Baker Hughes, DJ reports
09:33 EDTVRXZoetis could get bought by Bayer for $53/share, says Jefferies
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07:23 EDTVRXValeant wooing doctors ahead of hoped for Allergan acquisition, WSJ says
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November 12, 2014
10:09 EDTVRXActavis in talks to buy Allergan for over $200 per share, Bloomberg says
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07:59 EDTWFT, BHIMitsubishi UFJ to hold a tour
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07:31 EDTHESBofA/Merrill to hold a conference
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06:22 EDTVRXZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
November 11, 2014
16:24 EDTVRXOn The Fly: Closing Wrap
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15:46 EDTVRXPershing Square, Sachem Head build 10% stake in Zoetis, WSJ reports
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08:32 EDTVRXValeant likely to raise offer for Allergan again, says Bernstein
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November 10, 2014
15:43 EDTBHIAmerican Petroleum Institute to hold a conference
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13:00 EDTHESHess Corp. increases five-year production growth rate forecast
Hess Corporation will review its growth strategy and provide a detailed update on its portfolio at an Investor Day in Houston. CEO John Hess, COO Greg Hill and other members of the leadership team will outline plans and targets that underpin the company’s strategy and commitment to deliver value to shareholders. The company is increasing its five-year production growth rate forecast to 6%-10% compounded annually from 2013 through 2018 between $90 and $100 Brent. With the success of its 2014 downspacing pilots confirmed, the company is increasing its Bakken net peak production guidance to approximately 175,000 barrels of oil equivalent per day by 2020; adding an additional 1,000 well locations to a total of more than 4,000; and increasing its net estimated ultimate recovery to more than 1.4 BBOE. Utica’s net peak production is forecast to reach approximately 40,000 BOEPD by 2020, with approximately 500 well locations and a net EUR of more than 300 MMBOE. This is the first time the company is providing guidance for this asset. Significant production growth and free cash generation are forecast from Hess’ offshore assets, particularly in the deepwater Gulf of Mexico with the Stampede field sanctioned in October for first oil in 2018 and production startup underway at Tubular Bells.
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