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Stock Market & Financial Investment News

News Breaks
December 13, 2012
14:14 EDTESI, CECO, DV, APOLMoody's: Defaults of private student loans to stay high in 2013 but will improve
The default rate of securitized private (non-guaranteed) student loans, PSL, will remain high into 2013; however, it will continue to improve slowly on a year-over-year basis, says Moody's Investors Service in a new report, "Private (Non-Guaranteed) Student Loan Defaults Improve But Will Remain High in 2013." Reference Link
News For CECO;APOL;DV;ESI From The Last 14 Days
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February 9, 2016
12:32 EDTAPOLOptions with decreasing implied volatility
Options with decreasing implied volatility: VHC APOL SRPT GRUB BWLD DECK UBNT GMCR
February 8, 2016
18:08 EDTDV, ESI, APOLEducation Department creates enforcement unit targeting education institutions
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17:39 EDTAPOLApollo Education shareholder criticizes deal, Bloomberg says
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16:23 EDTDV, APOLOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory thanks in part to lower oil prices, poor banking data out of China, and selling in Europe. The market saw little in the way of buying for most of the day, with all ten of the S&P sectors in negative territory. Oil prices struggled to stay above $30 per barrel, while "safe haven" gold moved above $1,200 an ounce, its highest price since June. Once oil settled, stocks saw a late rally and cut into their losses, but the averages still ended the day deep in the red even following the comeback. ECONOMIC EVENTS: In the U.S., the labor market conditions index came in at 0.4 for January, below expectations for a reading of 2.0. In Asia, markets in mainland China, Hong Kong, Taiwan and Korea were all closed for the New Year holiday. Data was still released in China that showed the country's foreign currency reserves fell to their lowest level since May 2012, dropping about $99B in January, though that was better than analyst forecasts and ahead of some recent whispers. COMPANY NEWS: Chesapeake Energy (CHK) tumbled 33.2% to $2.05 after media reports indicated that the natural gas producer has hired restructuring lawyers from Kirkland & Ellis. The company later remarked that the law firm has been retained as an adviser, though Chesapeake noted it has "no plans" to pursue bankruptcy, which helped the stock recover some of its early losses... Meanwhile, another player in the oil space with ties to Chesapeake, Energy Transfer Equity (ETE), declined 41.3% to $4.10 after the company disclosed it was making a change to the Chief Financial Officer of its general partner. Williams Company (WMB), which has agreed to merge with Energy Transfer, also slid nearly 35%... Yelp (YELP) ended Monday down 11% at $16.11 after the earlier than expected release of its quarterly earnings report, which the company blamed on the news distribution service that issued the press release before the results were due. Yelp's earnings and revenue came in above expectations, though the company also disclosed that its finance chief Rob Krolik would be stepping down. MAJOR MOVERS: Among the notable gainers was Apollo Education (APOL), which rallied 24% to $8.62 after agreeing to be acquired for $9.50 per share by a group of investors led by private equity firm Apollo Global (APO), with the news also sending its for-profit education competitor DeVry (DV) up 5.5%. Also higher was GoPro (GPRO), which gained 10.3% to $10.99 after Microsoft (MSFT) announced a new collaborative patent licensing agreement with the beaten down action camera maker. In addition, Outerwall (OUTR), owner of the Redbox and Coinstar kiosk brands, rose 11% to $30.01 after Bloomberg reported that at least three buyout firms have sought to take it private in the past two years, with activist investor Engaged Capital later in the day confirming a 14% stake in the company. Among the noteworthy losers was Sarepta (SRPT), which declined 12.1% to $10.74 after the FDA delayed a decision on the company's closely-watched Duchenne muscular dystrophy treatment eteplirsen. Also lower was BioCryst (BCRX), which plunged 71% to $1.77 after a clinical trial of its hereditary angioedema drug failed to meet its primary endpoint. Meanwhile, Twitter (TWTR) fell 5.3% to $14.89 following reports over the weekend that it is rethinking its news feed, potentially ordering posts based on popularity rather than chronological date. INDEXES: The Dow fell 177.92, or 1.1%, to 16,027.05, the Nasdaq lost 79.39, or 1.82%, to 4,283.75, and the S&P 500 declined 26.61, or 1.42%, to 1,853.44.
12:05 EDTAPOLOn The Fly: Top stock stories at midday
Stocks on Wall Street began the session deep in negative territory and proceeded to move lower throughout the session, amid a renewed selloff in oil prices and fears that bankruptcies related to the prolonged slump will begin to pick up pace. The move lower is not restricted to the energy sector and has been broad-based, as each of the major equity indexes was lower by about 2% or more. ECONOMIC EVENTS: In the U.S., the labor market conditions index came in at 0.4 for January, below expectations for a reading of 2.0. In Asia, markets in mainland China, Hong Kong, Taiwan and Korea were all closed for the New Year holiday. Data was still released in China that showed the country's foreign currency reserves fell to their lowest level since May 2012, dropping about $99B in January, though that was better than analysts forecast and ahead of some recent whispers. COMPANY NEWS: Chesapeake Energy (CHK) tumbled over 50%, dropping as low as $1.50 per share, after media reports indicated that the natural gas producer has hired restructuring lawyers from Kirkland & Ellis. Subsequently, the stock was halted pending news and the company confirmed that Kirkland & Ellis continues to advise the company as it seeks to further strengthen its balance sheet. However, Chesapeake noted that it currently has "no plans to pursue bankruptcy," and its shares recovered some of their earlier losses upon being reopened for trading. The stock was down a bit over 25% near noon... Meanwhile, another player in the oil space with ties to Chesapeake, Energy Transfer Equity (ETE), declined 30% after the company disclosed, via a regulatory filing after Friday's close, that it was making a change to the Chief Financial Officer of its general partner. According to the company, the departure of CFO Jamie Welch from the post was not caused by any disagreements between him and the MLP over accounting issues or financial matters. Williams Company (WMB), with has agreed to merge with Energy Transfer, also slid 25%. MAJOR MOVERS: Among the notable gainers was Apollo Education (APOL), which rallied 25% after it agreed to be acquired by a group led by private equity company Apollo Global (APO) for $9.50 per share. Also higher was GoPro (GPRO), which gained 9% after Microsoft (MSFT) announced a new collaborative patent licensing agreement with the beaten down action camera maker. Among the noteworthy losers was Sarepta (SRPT), which fell 12% after the FDA delayed a decision on the company's Duchenne muscular dystrophy treatment eteplirsen. Also lower was BioCryst (BCRX), which plunged 67% after a clinical trial of its hereditary angioedema drug failed to meet its primary endpoint. In addition, DexCom (DXCM) was 17% lower after it was downgraded to Neutral from Outperform at Baird. INDEXES: Near midday, the Dow was down 317.14, or 1.96%, to 15,887.83, the Nasdaq was down 101.02, or 2.32%, to 4,262.12, and the S&P 500 was down 36.43, or 1.94%, to 1,843.62.
10:13 EDTAPOLOptions with decreasing implied volatility
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09:17 EDTAPOLOn The Fly: Pre-market Movers
HIGHER: Apollo Education (APOL), up 26.6% after announcing that it will be acquired for $9.50 per share... Sprouts Farmers Market (SFM), up 5% after being added to S&P 400... GoPro (GPRO), up 3.4% after signing a licensing agreement with Microsoft (MSFT). LOWER: BioCryst Pharmaceuticals (BCRX), down 60.9% after reporting OpuS-2 clinical trial results... CTI BioPharma (CTIC), down 55.4% after the FDA placed a partial clinical hold on pacritinib studies... Tableau (DATA), down 5.5% after being downgraded to Equal Weight at Morgan Stanley... HSBC (HSBC), down 3.6% after being downgraded to Underweight from Equal Weight at Morgan Stanley... Chesapeake Energy (CHK), down 21% after Hedgeye analyst Kevin Kaiser said in an interview with Barron's that Chesapeake could go to zero... Twitter (TWTR), down 2.9% after backlash over its new algorithmic timeline.
07:03 EDTAPOLApollo Global consortium to acquire Apollo Education for $9.50 per share
Apollo Education Group (APOL) announced it has entered into a definitive agreement to be acquired by a consortium of investors including The Vistria Group, funds affiliated with Apollo Global Management (APO), and Najafi Companies for $9.50 per share in cash for both Class A and B shares. The purchase price represents a premium of 30% over Apollo Education Group's 30-day volume weighted average stock price for the period ended Feb. 5, and a 44% premium over the closing price on Jan. 8, immediately prior to the announcement that the Board of Directors was pursuing strategic alternatives. Tony Miller, Chief Operating Officer and Partner of The Vistria Group and former Deputy Secretary of the U.S. Department of Education, will become Chairman of the Apollo Education Group Board upon transaction close. Upon completion of the transaction, Apollo Education Group will be privately held and its affiliated institutions will remain subject to the same U.S. and international regulations and accreditation standards. The agreement was approved by Apollo Education Group's Board of Directors. The acquisition is expected to be completed by Apollo Education Group's fiscal year-end, in August 2016. Apollo Education Group and Apollo Global Management are unaffiliated entities.
07:00 EDTAPOLApollo Education to be aquired by group led by Apollo Global for $9.50 per share
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February 7, 2016
20:36 EDTAPOLOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Ford (F) plans to build a new assembly plant in Mexico and expand its existing factory near Mexico City, sharply increasing production capacity in the country as it looks to focus its U.S. efforts on trucks and SUVs, the Wall Street Journal reported. 2. GoPro (GPRO) and Microsoft (MSFT) signed a patent licensing agreement late Friday, lifting shares of the action camera maker in after-hours trading. 3. Media reports indicate Twitter (TWTR) could be rethinking its news feed, potentially ordering posts based on popularity rather than chronological date. 4. Apollo Education (APOL) received a second investigative subpoena from California's attorney general related to the marketing, recruiting, accreditation, and other aspects of its for-profit schools. 5. Celgene (CELG), Gilead (GILD), Thermo Fisher (TMO) and Vantiv (VNTV) were mentioned positively by Barron's this weekend, while Church & Dwight (CHD) was called overvalued and GoPro was identified as a possible takeover target by Under Armour (UA) or Sony (SNE).
February 5, 2016
17:11 EDTAPOLApollo Education receives second investigative subpoena
On February 4, we received a Second Investigative Subpoena from the Office of the Attorney General of the State of California in the Matter of the Investigation of For-Profit Educational Institutions, following the Investigative Subpoena we received in August 2015. The Second Investigative Subpoena seeks the production of documents and information regarding a broad spectrum of the business and practices of Apollo Education Group, and each of our subsidiaries, including University of Phoenix, Inc., relating to marketing, recruiting, compensation of enrollment advisors, complaints, financial aid, compliance, accreditation, other governmental investigations, private litigation and other matters, as well as additional information relating to marketing and services to members and former members of the U.S. military and California National Guard, for the time period of July 1, 2010 to the present. We are cooperating with the Attorney General in this investigation. We cannot predict the eventual scope, duration or outcome of the investigation at this time.
07:29 EDTDVOptions expected to be active
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February 4, 2016
16:28 EDTDVDeVry reports Q2 DeVry University revenue down 23.8% to $160.2M
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16:24 EDTDVDeVry sees FY16 adjusted EPS down 5%-6%, consensus $2.37
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16:22 EDTDVDeVry sees Q3 revenue down 4%-5%, consensus $463.37M
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16:18 EDTDVDeVry reports Q2 adjusted EPS 68c, consensus 67c
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14:35 EDTDVNotable companies reporting after market close
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February 3, 2016
15:21 EDTDVDeVry volatility elevated into Q2 and outlook
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10:00 EDTDVOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Capella Education (CPLA) initiated with an Outperform at Credit Suisse... DeVry (DV) initiated with an Outperform at Credit Suisse... Gilead (GILD) initiated with a Buy at Standpoint Research... Grand Canyon (LOPE) initiated with a Neutral at Credit Suisse... Hannon Armstrong (HASI) initiated with an Equal Weight at Morgan Stanley... Houghton Mifflin (HMHC) initiated with an Outperform at Credit Suisse... Mediaset (MDIUY) initiated with a Buy at Jefferies... Palo Alto (PANW) initiated with a Buy at Maxim... Splunk (SPLK) initiated with a Buy at Maxim... Strayer (STRA) initiated with a Neutral at Credit Suisse... Tableau (DATA) initiated with a Sell at Maxim... Tesla (TSLA) initiated with a Sell at Berenberg... WisdomTree (WETF) initiated with an Outperform at Northland... bluebird bio (BLUE) initiated with an Outperform at Leerink.
February 2, 2016
16:16 EDTDVDeVry initiated with an Outperform at Credit Suisse
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