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Stock Market & Financial Investment News

News Breaks
January 27, 2014
09:36 EDTWMT, MRK, C, TSLA, NFLX, TWTR, GOOG, AAPLActive equity options trading on open
Active equity options trading on open according to Track Data: C AAPL NFLX MA MRK GOOG TSLA WMT TWTR
News For C;AAPL;NFLX;MRK;GOOG;TSLA;WMT;TWTR From The Last 14 Days
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December 8, 2014
10:16 EDTTWTRTwitter falls to session lows, levels to watch
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10:03 EDTWMTLiquidity Services price target lowered to $9 from $12 at RW Baird
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10:00 EDTNFLXOn The Fly: Analyst Initiation Summary
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09:22 EDTTSLATesla weakness a buying opportunity, says RW Baird
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09:20 EDTWMTLiquidity Services estimate cuts possible on Wal-Mart fight, says Janney Capital
After Liquidity Services (LQDT) disclosed that Wal-Mart (WMT) terminated its return agreement and that the two are now in dispute over the deal, Janney Capital noted Liquidity 's recent 10K filing indicated that Wal-Mart accounted for 11% of FY14 gross merchandise volume, including Commercial Capital assets. Janney estimates the full year EBITDA impact from the contract to be somewhere below $10M, but said there is a potential for further estimate cuts given the dispute. The firm maintains its Neutral rating on Liquidity Services shares.
09:13 EDTWMTLiquidity Services reports Walmart terminates return agreement
Liquidity Services (LQDT) had previously acquired from ILJ Enterprises its business of purchasing closeouts, excess merchandise and customer returns for resale to retailers, wholesalers, and other third parties and consumers. In connection with the acquisition, the company, through one of its subsidiaries, assumed ILJís rights and obligations with Wal-Mart Stores (WMT). Under the Wal-Mart agreement, Liquidity Services has the exclusive right to purchase certain consumer products from Wal-Mart that have been removed from the sales stream of Wal-Martís retail operations. On December 1, Wal-Mart provided Liquidity Services written notice terminating the Wal-Mart Agreement, effective December 8. The termination notice alleges that the company failed to comply with certain provisions under the Wal-Mart agreement with respect to service level requirements and restrictions on the disposition of merchandise, Liquidity disclosed in a regulatory filing late Friday. The company disputes these allegations and is contesting the termination of the agreement with Wal-Mart. The company had been in negotiations with Wal-Mart to address Wal-Martís failure to honor the companyís exclusive right to purchase selected merchandise from Wal-Mart but was unable to reach a satisfactory resolution. The company is currently evaluating all of its options, reserves all rights with respect to this matter and will continue to seek appropriate relief from Wal-Mart for its failure to honor the companyís exclusive rights to purchase selected merchandise and any related actual damages the company has incurred. The company does not believe that the purported termination of the Wal-Mart Agreement will result in the company being unable to meet its financial guidance for its first fiscal quarter ending December 31, 2014, Liquidity Services stated.
08:30 EDTMRKMerck says deals with Cubist includes $250M break-up fee clause
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08:21 EDTMRKMerck says looked at all risks, including patent litgation, before Cubist deal
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08:11 EDTMRKCubist volatility elevated into Merck acquiring for $8.4B in cash
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08:08 EDTMRKMerck says about $9.5B of debt to be issued related to Cubist deal
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07:35 EDTMRKAdvaxis reports FDA acceptance of IND application for ADXS-PSA combination trial
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07:13 EDTMRKMerck to host conference call
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07:01 EDTMRKMerck to acquire Cubist for $102 per share in cash, or $9.5B
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07:00 EDTMRKMerck to acquire Cubist for $102 per share in cash
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06:37 EDTAAPLApple rumored to be launching 4-inch iPhone in 2015, Times of India reports
Apple is rumored to be developing a new iPhone with a 4-inch display, The Times of India reports, citing a report from The Electronic Times of Taiwan. According to supply chain sources, the device will launch in 2H15. Reference Link
06:35 EDTCValue of Wall Street's M&A bankers has risen, NY Times says
The value of Wall Street's bankers who advise large companies seems to be increasing, while traders are becoming less valuable, according to The New York Times. Bankers who work on M&A deals are expecting their bonuses to increase, while traders anticipate that their compensation will drop, the newspaper added. Furthermore, banks seem to be going the extra mile to hire top notch bankers, the newspaper stated. Publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
06:22 EDTAAPLApple price target raised to $135 from $120 at Citigroup
Citigroup raised its earnings estimates for Apple after its field work indicated consumers are increasingly buying the higher memory iPhone 6 and 6+. Citi expects purchasing trends towards higher memory devices to drive stronger sales and margins. It believes consensus estimates are yet to factor in this development. The firm raised its price target for Apple shares to $135 from $120 and keeps a Buy rating on the name. Shares of phone maker closed Friday down 49c to $115.
06:21 EDTCDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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06:15 EDTAAPLLenovo shipments expected to lead Samsung by 9M in 2015, DigiTimes reports
Lenovo (LNVGY) is estimated to beat Samsung (SSNLF) in mobile device shipments in 2015 by about 9M units, reports DigiTimes Research. Lenovo is set to beat Samsung by about 1M units in 2014 and become the second largest mobile computing device brand vendor worldwide behind Apple (AAPL). DigiTimes Research says Lenovo and Samsung plan to focus on maintaining tablet shipments as demand weakens in 2015. Reference Link
06:00 EDTTWTRTwitter's former head of product leaving company, Re/code reports
Daniel Graf, who was replaced by Kevin Weil as head of product last month, is leaving the company, Re/code reports. Reference Link
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