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Stock Market & Financial Investment News

News Breaks
June 25, 2014
12:33 EDTHFC, SBGI, DIS, BKS, CBS, EPD, VLO, FOXA, ZU, NXST, PXD, MEG, CMCSA, MON, IACIOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite the U.S. sharply lowering its view of how the economy performed in the first quarter of this year. The market opened lower following the disappointing GDP revision, as well as a lower than expected durable goods report, but the averages soon turned mixed and all moved into positive ground by about 11 am ET, where they have been drifting since. ECONOMIC EVENTS: In the U.S., the Bureau of Economic Analysis released its third and final estimate of real gross domestic product for the first quarter. The government now estimates that output in the U.S. declined at an annual rate of 2.9%, which was worse than the prior estimate of 1% contraction and significantly down from the fourth quarter of 2013, when real GDP grew 2.6%. The estimate of Q1 personal spending growth was knocked down to a 1.0% clip from the prior 3.1% pace. Durable goods orders dropped 1.0% in May, versus expectations for them to have been unchanged. Markit's services PMI surged to a record 61.2 for the flash June reading from May's 58.1 figure. COMPANY NEWS: Shares of a number of television network owners, most notably CBS (CBS), advanced after the Supreme Court ruled that Aereo, a start-up service backed by the Barry Diller-controlled IAC (IACI) that streams tv shows over the Internet, had violated copyright laws. Following the high court ruling, which overturned a lower court judgment on the matter, CBS rose more than 4%, while Disney (DIS), which owns ABC Network, 21st Century Fox (FOXA), the owner of Fox, and Comcast (CMCSA), which owns NBC, all advanced about 1%. Shares of tv station owners reacted even more favorably, with Nexstar (NXST) surging 15%, Sinclair (SBGI) rising 14% and Media General (MEG) gaining 10%... Shares of Barnes & Noble (BKS) rose 4% after the bookseller announced that its board authorized management to separate its Retail and Nook Media divisions and the company reported better than anticipated fourth quarter revenue. MAJOR MOVERS: Among the notable gainers was Monsanto (MON), which advanced 5% after the company reported better than expected Q3 results, raised its full year EPS outlook to the upper end of its previous guidance range and announced a new $10B share repurchase authorization. Also higher was zulily (ZU), which rose over 10% after Goldman Sachs upgraded the stock to Buy, citing the recent pullback in shares and expectations for higher than expected customer growth into 2015. Among the noteworthy losers was Valmont Industries (VMI), which fell 7% after the company lowered its fiscal 2014 earnings per share outlook. Also lower were a number of refiners, including Valero (VLO), which was down 10%, and HollyFrontier (HFC), which slid 8%, after the U.S. reportedly reclassified condensate as a processed product and gave Pioneer Natural Resources (PXD) and Enterprise Products Partners (EPD) permission to export the type of oil to foreign buyers. INDEXES: Near midday, the Dow was up 23.20, or 0.14%, to 16,841.33, the Nasdaq was up 9.79, or 0.23%, to 4,360.15, and the S&P 500 was up 4.14, or 0.21%, to 1,954.12.
News For CBS;IACI;NXST;BKS;MON;ZU;DIS;CMCSA;FOXA;SBGI;MEG;VLO;HFC;PXD;EPD From The Last 14 Days
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April 17, 2015
14:00 EDTCMCSATime Warner Cable drops 5.5% after Bloomberg says DOJ leaning toward lawsuit
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13:57 EDTCMCSADOJ close to recommending suit to block Comcast-TWC deal, Bloomberg says
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10:00 EDTPXDOn The Fly: Analyst Downgrade Summary
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07:58 EDTPXD, PXDPioneer Natural downgraded to Underperform from Outperform at CLSA
07:00 EDTDISDisney price target raised to $120 from $105 at Jefferies
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06:17 EDTCMCSAVerizon to offer monthly custom TV plans, Reuters reports
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April 16, 2015
11:05 EDTCBSCBS April calls active amid subject of recent takeover chatter
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08:01 EDTDISJPMorgan positive on Disney into Q2 earnings report
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07:13 EDTDISDisney and Corus Entertainment sign licensing agreement in Canada
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April 15, 2015
18:36 EDTCMCSANetflix CEO says company looking for FCC to block Comcast/Time Warner deal
Netflix (NFLX) CEO Reed Hastings reiterated that the FCC should block the Comcast (CMCSA) and Time Warner Cable (TWC) merger. Comment provided during Q1 earnings interview.
09:47 EDTCMCSAComcast price target raised to $84 from $70 at BofA/Merrill
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09:02 EDTDISDolby Vision to launch with Disney's Tomorrowland, Disney Pixar's Inside Out
Dolby Laboratories (DLB) and The Walt Disney Studios (DIS) announced that Disney’s Tomorrowland, in theatres May 22, 2015, and Disney•Pixar’s Inside Out, in theatres June 19, 2015, will be the first Dolby Vision titles to be shown at Dolby Cinema™ locations around the globe. In addition, Disney’s The Jungle Book, due out April 15, 2016, will also be presented in Dolby Vision, with more titles to be announced.
April 14, 2015
10:01 EDTIACIOn The Fly: Analyst Downgrade Summary
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07:00 EDTIACIIAC downgraded to Neutral from Outperform at Credit Suisse
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05:51 EDTCMCSANBCUniversal teams with Germany, France broadcasters to create shows, WSJ says
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April 13, 2015
10:00 EDTBKSOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Barnes & Noble (BKS) initiated with a Buy at Craig-Hallum... Calgon Carbon (CCC) initiated with a Buy at Roth Capital... CenterPoint Energy (CNP) initiated with a Neutral at Goldman... Compass Diversified (CODI) initiated with an Outperform at William Blair... DTE Energy (DTE) initiated with a Neutral at Goldman... Goldman Sachs BDC (GSBD) initiated with an Outperform at Wells Fargo... Green Bancorp (GNBC) initiated with a Buy at SunTrust... Hilltop Holdings (HTH) initiated with a Buy at SunTrust... ITC Holdings (ITC) initiated with a Sell at Goldman... Independent Bank (IBTX) initiated with a Neutral at SunTrust... LegacyTexas Financial (LTXB) initiated with a Buy at SunTrust... MarkWest Energy (MWE) initiated with a Buy at Ladenburg... Medgenics (MDGN) initiated with an Outperform at JMP Securities... National Commerce (NCOM) initiated with an Outperform at Keefe Bruyette... OGE Energy (OGE) initiated with a Neutral at Goldman... Owens Corning (OC) initiated with a Hold at Evercore ISI... Southside Bancshares (SBSI) initiated with a Neutral at SunTrust... Zogenix (ZGNX) initiated with a Buy at Empire.
08:56 EDTCMCSACPUC Commissioner asking for Comcast deal to be rejected, CT Financial News says
California Public Utilities Commissioner Mike Florio filed an alternate proposed decision on the planned merger of Comcast (CMCSA) and Time Warner Cable (TWC) that, in effect, asks the other four commissioners to reject a preliminary approval of the merger issued by a CPUC administrative law that included 25 conditions that Comcast must agree to in order to secure the pact, said CT Financial News. Reference Link
08:13 EDTBKSBarnes & Noble initiated with a Buy at Craig-Hallum
Target $36.
07:22 EDTFOXA, CBS, DIS, CMCSAWave of media M&A may be on the way, WSJ says
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07:13 EDTEPDWells Fargo to hold a conference
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