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Stock Market & Financial Investment News

News Breaks
July 14, 2014
16:30 EDTPRGO, RVBD, FHCO, C, AAPL, MYL, ABT, SHPG, ABBVOn The Fly: Closing Wrap
Stocks on Wall Street began the session sharply higher and then continued to trade in a very narrow range throughout the rest of the day. The higher start was attributed to the host of M&A deals that occurred over the weekend and renewed optimism over the second quarter earnings season following Citigroup's (C) better than expected headline results. ECONOMIC EVENTS: No major economic data was released in the U.S. COMPANY NEWS: Shares of Citigroup advanced $1.42, or 302%, to $48.42 after its headline earnings and revenue beat expectations. Also, the bank announced that it has reached a $7B settlement that resolves actual and potential civil claims by the Department of Justice, several state attorneys general and the Federal Deposit Insurance Corporation relating to RMBS and collateralized debt obligations issued, structured or underwritten by Citi between 2003 and 2008... Mylan (MYL) struck a deal to buy Abbott's (ABT) non-U.S. developed markets specialty and branded generics business in an all-stock transaction valued at about $5.3B. Under the terms of the deal, Abbott will carve out the assets and transfer them to a new public company organized in the Netherlands. Mylan will then merge with that company to become a new public company, called Mylan N.V., allowing it certain tax advantages. Abbott will receive 105M shares of the combined company, meaning it will hold an approximate 21% stake in Mylan following the deal. Shares of both companies advanced after the announcement, with Abbott gaining 52c, or 1.26%, to $41.82 and Mylan rising $1.04, or 2.07%, to $51.24... Shire (SHPG) announced that it requested, and has received, an increased takeover proposal following talks with AbbVie (ABBV). Shire said it would be willing to recommend the raised cash and stock offer, which has an indicative value of GBP 53.20 per Shire share based on AbbVie's share price on July 11, to its shareholders, potentially paving the way for a final deal between the two. After the announcement, Shire shares trading in New York rose $5.21, or 2.09%, to $254.27, while AbbVie declined 11c, or 0.2%, to $54.85. MAJOR MOVERS: Among the notable gainers was Apple (AAPL), which rose $1.23, or 1.29%, to $96.45 after Barclays upgraded its stock to Overweight and raised its price target for the shares to $110 from $95, citing channel checks that indicate near-term upside to consensus estimates and strong new products into 2015. Meanwhile, Morgan Stanley reported that its survey results suggests June quarter iPhone demand upside and the firm raised its iPhone unit estimate and its EPS estimate for Apple's coming quarter above the consensus forecasts. Also higher were shares of Perrigo (PRGO), which rose $12.70, or 8.69%, to $158.85 after Israel's "Globes" financial website, citing sources, said the company has hired an investment bank and seeks a merger with a "major pharmaceutical firm." Among the noteworthy losers was The Female Health Company (FHCO), which fell 79c, or 14.16%, to $4.79 after announcing plans to suspend payment of quarterly dividends and devote cash flows towards strategic initiatives planned to accelerate the company's long-term growth in revenue and earnings. Also lower was Riverbed (RVBD), which fell $1.75, or 8.6%, to $18.60 after the company cut its second quarter adjusted EPS and revenue outlook. Afterward, activist investor Elliot Management reaffirmed its prior $21 per share bid for the company and urged the company's board to "immediately" retain an advisor and announce a review of strategic alternatives, including a sale. INDEXES: The Dow advanced 111.61, or 0.66%, to 17,055.42, the Nasdaq gained 24.93, or 0.56%, to 4,440.42, and the S&P 500 rose 9.53, or 0.48%, to 1,977.10.
News For C;AAPL;MYL;ABT;SHPG;ABBV;PRGO;RVBD;FHCO From The Last 14 Days
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September 19, 2014
08:23 EDTAAPLApple price target raised to $110 from $106 at Cowen
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08:11 EDTAAPLTriQuint chip among those in iPhone 6 Plus, iFixit reports
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08:03 EDTAAPLInvenSense, NXP, RF Micro chips included in iPhone 6, iFixit reports
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07:17 EDTCCitigroup up against hard situation in Argentina bond plea, Reuters says
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06:43 EDTAAPLYouTube spending more money on original content, Re/code reports
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06:33 EDTAAPLTELUS announces iPhone 6, iPhone 6 Plus available in stores
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06:22 EDTAAPLGoogle planning to encrypt phone data in Android, Washington Post reports
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September 18, 2014
16:00 EDTAAPLOptions Update; September 18, 2014
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15:22 EDTAAPLBroadcom appears to be WiFi chip provider for Apple Watch, Chipworks says
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14:08 EDTCBanks look to high-interest personal loans to boost revenue, WSJ says
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11:15 EDTABBVRepros sinks after panel backs tests for testosterone therapies
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09:36 EDTAAPLActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL YHOO TWTR VVUS RAD PWE WFM TSLA PIR SHLD
08:46 EDTAAPLApple patent points to development of bone conducting EarPods, AppleInsider says
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07:29 EDTAAPLApple, U2 collaborate on digital format to up music-buying, Time says
Apple and U2 are collaborating on a new project to develop a digital music format which will increase music purchases and fairly compensate artists, reported Time. Reference Link
07:26 EDTAAPLGartner: Smartwatch market ready to expand, poised for takeoff, DigiTimes says
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06:55 EDTAAPLApple launches new iOS 8 phones with 'kill switch'
Attorney General Eric Schneiderman and San Francisco District Attorney George Gascon revealed that new iPhones sold with iOS 8 will include Apple’s theft deterrent system, Activation Lock, as a default setting. This marks the first time in the history of the smartphone industry that theft deterrent technology is available by default on new products. In addition to being standard on the new iPhone 6 and 6 Plus, newly-sold iPhones will also prompt users to upgrade to iOS 8. Additionally, the new operating system can also be installed on most previous models of iPhones. As co-chairs of the Secure Our Smartphone, or S.O.S. Initiative, Attorney General Schneiderman and District Attorney Gascon led the effort to call on the wireless industry to address the global rise in smartphone thefts. The ultimate goal of SOS is for every mobile device to have a “kill switch” on by default. A default solution is imperative because it ensures that the device will be worthless to thieves. Reference Link
06:40 EDTAAPLApple wants to sell 50M Apple Watches in 2015, DigiTimes reports
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06:27 EDTAAPLReport says one iPhone 6 Chinese license approved, Reuters says
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06:10 EDTABBVFDA panel votes 20-1 to study changes to testosterone therapies
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05:40 EDTAAPLApple says will never allow government access to servers
Apple launched a website dedicated to privacy with a message from its CEO Tim Cook. The message stated in part, "We don’t build a profile based on your email content or web browsing habits to sell to advertisers. We don’t ‘monetize’ the information you store on your iPhone or in iCloud. And we don’t read your email or your messages to get information to market to you. Our software and services are designed to make our devices better. Plain and simple...Finally, I want to be absolutely clear that we have never worked with any government agency from any country to create a backdoor in any of our products or services. We have also never allowed access to our servers. And we never will."
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