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July 28, 2014
18:31 EDTCGNX, EMN, PCL, AFOP, HLF, ARWR, DRI, MAS, IDTI, AMKR, HLS, TCPCOn The Fly: After Hours Movers
UP AFTER EARNINGS: Cognex (CGNX), up 16.4% after reporting second quarter results and third quarter revenue guidance above analyst expectations... HealthSouth (HLS), up 7.4% after reporting second quarter results and increasing fiscal 2014 EPS and Adjusted EBITDA guidance... Amkor Technology (AMKR), up 6.4%... Integrated Device (IDTI), up 7.6% after reporting first quarter results... Masco (MAS), up 4.8%. ALSO HIGHER: Darden Restaurants (DRI), up 4.6% following the company's announcement that chairman and CEO Clarence Otis will step down and the board will separate the chairman and CEO roles, appointing lead independent director Charles Ledsinger, Jr., as independent non-executive chairman... Arrowhead Research (ARWR), up 16.5% following positive comments made by CEO Christopher Anzalone, Ph.D. in an interview on CNBC. DOWN AFTER EARNINGS: Herbalife (HLF), down 11.5% after reporting disappointing second quarter results and giving guidance for the third quarter and fiscal 2014... Alliance Fiber Optic (AFOP), down 9.7%... Plum Creek Timber (PCL), down 2.8%... Eastman Chemical (EMN), down fractionally after reporting quarterly results. ALSO LOWER: TCP Capital (TCPC), down 3.1% after filing to sell $5.4M shares of common stock.
Check below for free stories on CGNX;HLS;AMKR;IDTI;MAS;DRI;ARWR;HLF;AFOP;PCL;EMN;TCPC the last two weeks.
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September 12, 2014
06:09 EDTDRIStarboard releases detailed transformation plan for Darden
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06:08 EDTEMNEastman Chemical guidance concerns unwarranted, says Deutsche Bank
Deutsche Bank says shares of Eastman Chemical (EMN) yesterday fell 1% despite the accretive acquisition of Taminco (TAM) due in part to concerns the company's guidance implied no free cash flow growth in 2015. Deutsche views the concerns as unwarranted and says the stock's valuation is compelling at current levels. The firm thinks the acquisition of Taminco is financially attractive and keeps a Buy rating on Eastman with a $100 price target.
September 11, 2014
15:10 EDTDRIDarden technical comments before earnings
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15:10 EDTDRINotable companies reporting before tomorrow's open
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12:16 EDTEMNOn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. Initial jobless claims, reported prior to the open, did little to stoke buying after coming in higher than expected. The market has drifted off its lows of the session but the averages once again remain range bound. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 11K to 315K in the week ended September 6, versus expectations for them to tick down slightly to 300K. The Federal budget for August is scheduled to be reported at 2:00 pm ET, with a deficit of $130.0B forecast. COMPANY NEWS: Shares of yoga-inspired apparel maker lululemon (LULU) rose over 15% after the company reported better than expected second quarter results and increased its fiscal year guidance. Meanwhile, shares of another well-known retailer, RadioShack (RSH), advanced 16% after its own quarterly report, despite acknowledging it will need additional capital to complete its turnaround and that it may need to pursue a bankruptcy filing. MAJOR MOVERS: Among the notable gainers was JDSU (JDSU), which advanced 11% after announcing last night that it plans to separate into two publicly traded companies, namely an optical components and commercial lasers one and another focused on network and service enablement. This morning the stock was upgraded at RBC Capital to Outperform, as the firm believes that the split should enable the entities to streamline their costs and that the shares could reach a $40 value over the long-term. Also higher was Taminco (TAM), which rose nearly 11% and traded above the $26.00 per share price it agreed to in striking a deal to be acquired by Eastman Chemical (EMN). Of note, the deal includes a "go shop" provision under which Taminco may solicit alternative acquisition proposals for a thirty day period. Following the announcement, Eastman shares rose a bit over 1%. Among the noteworthy losers was E2open (EOPN), which plunged 30% and was downgraded at Pacific Crest and Northland after the company pre-announced Q2 results and issued weaker than expected 2015 revenue guidance. Also lower were shares of China's 21Vianet (VNET), which fell 17% after the company hosted a conference call to discuss the recent allegations made by a short seller. INDEXES: Near midday, the Dow was down 40.49, or 0.24%, to 17,028.22, the Nasdaq was down 12.73, or 0.28%, to 4,573.80, and the S&P 500 was down 3.66, or 0.18%, to 1,992.03.
10:48 EDTEMNTaminco up 11%, Eastman up 1% after announcing deal
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10:44 EDTEMNEastman Chemical to host conference call
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10:35 EDTEMNEastman Chemical says Taminco deal includes 'go-shop' provision
Eastman Chemical said its Taminco acquisition was approved by the Boards of Directors of both companies and is subject to certain conditions, including a thirty day "go shop" period in which Taminco may solicit alternative acquisition proposals, required regulatory approvals and other customary closing conditions. The majority stockholder of Taminco has agreed, subject to certain conditions, including the Taminco Board's continuing recommendation of the transaction, to vote its shares of Taminco's common stock in favor of the acquisition. As a result, no further stockholder approvals will be required to complete the acquisition. The transaction is expected to close by year-end 2014.
10:34 EDTEMNEastman Chemical to acquire Taminco for $26.00 per share cash
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10:32 EDTEMNTaminco announces agreement to be acquired by Eastman Chemical
Taminco (TAM) announced a definitive agreement to be acquired by Eastman Chemical (EMN) for $26.00 per share, for a total transaction value of approximately $2.8B in cash. The transaction was approved by the Board of Directors of Taminco and the Board of Directors of Eastman. The merger agreement includes a 30-day "go-shop" period, during which Taminco, with the assistance of Morgan Stanley, its financial advisor, will actively solicit, receive, evaluate and potentially enter into negotiations with parties that offer alternative proposals. For a 15-day period following the termination of the go-shop period, Taminco will be permitted to continue discussions and enter into or recommend a transaction with any person that submitted a qualifying superior proposal during the 30-day period. There are no guarantees that this process will result in a superior proposal. The transaction is expected to close in Q4, subject to receipt of written approval by a majority of Taminco's shareholders, the receipt of regulatory approvals, the satisfaction of other customary closing conditions and assuming that the go-shop process does not result in an alternative superior proposal.
10:32 EDTEMNEastman Chemical to acquire Taminco in $2.8B deal
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10:30 EDTEMNTaminco announces agreement to be acquired by Eastman Chemical
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10:04 EDTEMNEastman Chemical trading halted, pending news
September 10, 2014
17:49 EDTDRIStarboard Value says Darden has not fully complied with Florida courtís order
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09:07 EDTDRIDarden Restaurants volatility elevated into Q2 and growth outlook
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September 9, 2014
14:12 EDTIDTIApple confirms wireless charging for Apple Watch
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08:51 EDTIDTIIntegrated Device says 'working closely' with Intel on wireless charging
Integrated Device Technology (IDTI) announced earlier at the Intel Developer Forum that it is working closely with Intel (INTC) on the development of wireless charging solutions to accelerate the delivery and adoption of the technology. The two companies, both board members of the Alliance for Wireless Power, will define, design and manufacture solutions that comply with the A4WP magnetic resonance standard. The new technology will offer the ability to charge both lower and higher power devices, from wearables and phones to tablets and PCs. The companies expect to have their technology in products in 2015, IDT stated.
September 8, 2014
09:29 EDTIDTICraig-Hallum says Integrated Device likely in Apple iWatch
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September 5, 2014
09:10 EDTHLFHerbalife distributor claims fired for web sales, Seeking Alpha contributor says
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06:22 EDTPCLPlum Creek Timber initiated with an Overweight at JPMorgan
Target $46.
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