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Stock Market & Financial Investment News

News Breaks
May 13, 2014
10:05 EDTVFC, TNTEY, MAS, HUBG, DYN, UBNT, QGEN, KKR, HSH, DANOY, TWX, PBA, ITW, GDOT, BPIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Bridgepoint Education (BPI) upgraded to Hold from Sell at Deutsche Bank... Danone (DANOY) upgraded to Equal Weight from Underweight at Morgan Stanley... Dynegy (DYN) upgraded to Neutral from Underperform at Macquarie... Green Dot (GDOT) upgraded to Sector Perform from Underperform at Portales... Hillshire Brands (HSH) upgraded to Outperform from Market Perform at Wells Fargo... Hub Group (HUBG) upgraded to Buy from Hold at KeyBanc... Illinois Tool Works (ITW) upgraded to Neutral from Underweight at JPMorgan... KKR (KKR) upgraded to Overweight from Equal Weight at Evercore... Masco (MAS) upgraded to Buy from Hold at Jefferies... Pembina Pipeline (PBA) upgraded to Buy from Hold at Canaccord... QIAGEN (QGEN) upgraded to Neutral from Underweight at HSBC... TNT Express (TNTEY) upgraded to Overweight from Neutral at JPMorgan... Time Warner (TWX) upgraded at Bernstein... Ubiquiti Networks (UBNT) upgraded to Strong Buy from Outperform at Raymond James... VF Corp. (VFC) upgraded to Buy from Neutral at ISI Group.
News For BPI;DANOY;DYN;GDOT;HSH;HUBG;ITW;KKR;MAS;PBA;QGEN;TNTEY;TWX;UBNT;VFC From The Last 14 Days
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August 19, 2015
07:22 EDTPBACitigroup to hold a conference
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06:14 EDTTWXIntel to launch contest show on Turner Broadcasting, WSJ reports
Intel (INTC) is making a foray into reality television by developing a contest show with Mark Burnett and Time Warner's (TWX) Turner Broadcasting unit, the Wall Street Journal reports. The program will be called "America's Greatest Makers" and will engage "do-it-yourselfers" who turn microchips and other components into devices and gadgets, competing for a $1M prize, the report says. The show is scheduled to appear on TV and other media channels in 2016, the report adds. Reference Link
August 18, 2015
07:12 EDTTWXDisney downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded Disney (DIS) to Market Perform with a $112-$119 price target range saying value is shifting from content to distribution. Wells also downgraded CBS (CBS) and 21st Century Fox (FOXA) this morning to Market Perform while cutting its Diversified Media sector view to Market Weight. Time Warner (TWX) remains its only Outperform-rated media stock. Shares of Disney closed yesterday up $1.88 to $109.05.
06:53 EDTKKRPrivate equity firms dominate bidding for Airbus defense assets, Bloomberg says
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August 17, 2015
16:53 EDTKKROn The Fly: Top stock stories for Monday
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13:30 EDTKKROn The Fly: Top stock stories at midday
Stocks began the session deep in negative territory after a disappointing Empire Manufacturing report. The data got the market off to a weak start as optimism over last week's finish began to fade. The averages continued to drift in a narrow range for the opening hour before reversing and capturing the opening losses. Each of the major equity indices is now back in positive territory sporting slight gains across the board. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index plunged to -14.92 in August after rebounding to 3.86 in July from June's -1.98. The consensus estimate was 4.75, and the surprising drop puts the index at its lowest point since April 2009. The employment component slid to 1.82, while new orders crashed to -15.70. Meanwhile, the U.S. NAHB homebuilder sentiment index rose to 61 in August from 60 in June and and is the highest since November 2005. The single family sales index edged up to 66 versus a revised 65 last month, while the index of prospective buyer traffic improved to 45 versus 43 previously. In Europe, various Eurozone parliaments prepare to vote on Greece's new EUR86B bailout plan this week. COMPANY NEWS: Liberty Interactive (QVCA) announced this morning an agreement to acquire zulily (ZU) for $18.75 per share in a deal valuing the online shopping site at $2.4B, driving zulily shares up more than 47% in intraday trading. The acquisition will be attributed to Liberty's QVC Group tracking stock, though QVC and zulily will be operated as separate consumer facing brands. On a conference call discussing the acquisition, Liberty Interactive executives noted that the "highly efficient" deal will allow Liberty to reach a younger base. MAJOR MOVERS: Among the notable gainers AVEO Oncology (AVEO), which rose roughly 50% after announcing a license agreement with Novartis (NVS) for the development and commercialization of AVEO's AV-380 drug and related antibodies. Also higher was Kite Pharma (KITE), which advanced roughly 5.4% after clarifying that an earlier patient death in its Phase 1/2 KTE-C19 trial for non-Hodgkin's lymphoma was unrelated to Kite's therapy. Additionally, shares of Target (TGT) have gained roughly 10c despite lingering in negative territory early Monday after the company promoted CFO John Mulligan to the newly created role of EVP and COO and appointed Cathy Smith as EVP and CFO. Prior to joining Target, Smith served as EVP and CFO at St. Louis-based Express Scripts (ESRX). Among the noteworthy losers was KKR (KKR), which lost roughly 2.4% after Samson Resources announced a restructuring agreement late Friday, adding that it expects to file for bankruptcy within 30 days. Also lower was Estee Lauder (EL), which declined nearly 6.5% after its quarterly guidance missed analysts' estimates. INDEXES: Near midday, The Dow was up 65.11, or 0.37%, to 17,542.51, the Nasdaq gained 34.73, or 0.69%, to 5,082.96, and the S&P 500 advanced 8.80, or 0.42%, to 2,101.03.
11:49 EDTTWXTime Warner price target lowered to $92 from $103 at Barrington
Barrington analyst James Goss lowered his price target for Time Warner to $92 to reflect more conservative multiple assumptions but keeps an Outperform rating on the name.
09:26 EDTKKROn The Fly: Pre-market Movers
HIGHER: AVEO (AVEO), up 119.7% after announcing licensing agreement with Novartis (NVS)... OHR Pharmaceutical (OHRP), up 24.9% after Soros reports new stake in company in 13F filing... Kite Pharma (KITE), up 4.6% after saying patient death unrelated to KTE-C19... Tesla (TSLA), up 5.5% after price target raised to $465 from $280 at Morgan Stanley... Mobileye (MBLY), up 2.7% after price target raised to $80 from $71 at Morgan Stanley... J.C. Penney (JCP), up 1.5% after being initiated with a Buy at B. Riley and Piper Jaffray raised its price target to $17 from $15. DOWN AFTER EARNINGS: Estee Lauder (EL), down 2.1% after reporting quarterly results and giving guidance for first quarter and fiscal 2016. ALSO LOWER: KKR (KKR), down 3.3% after Samson enters restructuring deal and expects to file for bankruptcy within 30 days... Aquinox (AQXP), down 4.7% after Lloyd Mackenzie, vice president - Technical Operations and Planning, disclosed late Friday the sale of 35,887 shares worth over $670,000 in a sale related to the exercise of options.
07:11 EDTKKRSoftwareONE partners with KKR to accelerate growth
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August 16, 2015
16:59 EDTTWX'Straight Outta Compton' sidesteps rivals in $56.1M weekend debut
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15:38 EDTKKRKKR's Samson enters restructuring deal, sees bankruptcy filing within 30 days
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August 14, 2015
17:31 EDTKKRKKR's Samson Resources likely to file Chapter 11 by mid-September, WSJ says
KKR & Co.'s Samson Resources Corp. intends to file for chapter 11 bankruptcy protection by mid-September after finalizing a restructuring plan with key creditors, the Wall Street Journal reports, citing people familiar with the matter. Reference Link
16:44 EDTMASThird Point gives quarterly update on stakes
NEW STAKES: Baxter (BAX), T-Mobile (TMUS), Sealed Air (SEE), Devon (DVN), and Perrigo (PRGO). INCREASED STAKES: SunEdison (SUNE), Dow Chemical (DOW), Mohawk (MHK), Yum! Brands (YUM), and IAC/InterActiveCorp (IACI). DECREASED STAKES: Ally Financial (ALLY), Amgen (AMGN), Sensata (ST), Masco (MAS), and Delta (DAL). LIQUIDATED STAKES: Dollar General (DG), McKesson (MCK), Edgewell Personal Care (EPC), Maxim (MXIM), and FleetCor (FLT).
16:37 EDTMASAppaloosa gives quarterly update on stakes, takes stake in Apple
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13:03 EDTTWXOmega Advisors gives quarterly update on stakes, discloses stake in Google
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11:24 EDTTWXFly Watch: 'Straight Outta Compton' expected to lead weekend box office
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09:47 EDTTWXTurner Broadcasting buys majority stake in iStreamPlanet
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07:37 EDTTWXJANA reports new stakes in Allergan, TWC, sells Applied Materials
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07:19 EDTBPIBridgepoint Education says received civil investigative demands from CFPB
Bridgepoint Education said in a regulatory filing that on August 10, the company and Ashford University received from the Consumer Financial Protection Bureau Civil Investigative Demands related to the CFPB's investigation to determine whether for-profit post-secondary-education companies or other unnamed persons have engaged in or are engaging in unlawful acts or practices related to the advertising, marketing or origination of private student loans. At June 30, the company had $9.1M of net outstanding loans made from its institutions to their students. The company and Ashford University expect to provide documents, testimony and other information to the CFPB, and cannot predict the eventual scope, duration or outcome of the investigation at this time.
06:21 EDTTNTEYEU to rule on FedEx, TNT deal by January 13, Reuters reports
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