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Stock Market & Financial Investment News

News Breaks
December 17, 2013
10:04 EDTCHD, ANDE, ADM, HAWK, Z, RHT, VNCE, TGI, OXFD, IRM, MEP, EVGN, RDEN, CBST, TRIPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Church & Dwight (CHD) initiated with a Hold at KeyBanc...Cubist (CBST) initiated with an Outperform at JMP Securities...Eastman Chemical (EMN) initiated with a Buy at UBS...Elizabeth Arden (RDEN) initiated with a Hold at KeyBanc...Evogene (EVGN) initiated with a Buy at Deutsche Bank...Iron Mountain (IRM) initiated with a Hold at Jefferies...Midcoast Energy (MEP) initiated with a Buy at BofA/Merrill...Midcoast Energy initiated with a Buy at Goldman...Midcoast Energy initiated with a Buy at UBS...Midcoast Energy initiated with a Hold at Deutsche Bank...Midcoast Energy initiated with an Outperform at Wells Fargo...Oxford Immunotec (OXFD) initiated with an Overweight at JPMorgan...Oxford Immunotec initiated with an Overweight at Piper Jaffray...Triumph Group (TGI) initiated with an Overweight at JPMorgan...Vince Holding (VNCE) initiated with a Hold at Stifel...Vince Holding initiated with an Outperform at Wells Fargo...Red Hat (RHT) initiated with an Overweight at Stephens...Zillow (Z) initiated with a Buy at SunTrust...Blackhawk (HAWK) initiated with a Neutral at Janney Capital...Archer Daniels (ADM) initiated with an Outperform at Macquarie...Andersons (ANDE) initiated with a Neutral at Macquarie...TripAdvisor (TRIP) initiated with a Sell at Janney Capital.
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April 17, 2014
03:34 EDTIRMStocks with implied volatility movement; IRM RIG
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April 16, 2014
16:40 EDTIRMOn The Fly: Closing Wrap
Stocks on Wall Street were higher after Fed Chair Janet Yellen struck a dovish tone in comments to the Economic Club of New York, which was in step with the minutes of the last FOMC meeting released last week. The Fed also released its latest Beige Book report, which indicated that economic activity increased in most regions after the severe winter weather that gripped much of the country to start the year had let up. Corporate earnings season continues to pick up steam, with Dow members IBM (IBM) and American Express (AXP), as well as Google (GOOG), reporting after the market close. ECONOMIC EVENTS: In the U.S., housing starts in March were up 2.8% from the prior month to a rate of 946K, versus expectations for an increase of 7%. Building permits were down 2.4% to a 990K rate, versus expectations for a decline of 0.4%. Industrial production rose 0.7% in March, which was ahead of the 0.5% forecast. The Fed's Beige Book report indicated that economic activity rebounded and strengthened in most regions over the last six week. In China, data showed its economy grew 7.4% in the first quarter from a year earlier, providing relief after recent signs that growth in the world's second largest economy has been slowing. COMPANY NEWS: Bank of America (BAC) fell 26c, or 1.59%, to $16.13 after the bank reported a first quarter loss of 5c per share, largely due to $6B in legal charges. Excluding the impact of this litigation expense, which was related to a previously announced settlement with the Federal Housing Finance Agency and other legacy mortgage-related matters, the banking major reported earnings that appeared to beat estimates... Yahoo (YHOO) gained $2.14, or 6.26%, to $36.35 after its quarterly report, with investors reacting most positively to the 66% year-over-year revenue growth reported by Chinese e-commerce company Alibaba, in which Yahoo holds a 24% stake. Yahoo's quarterly profit and revenue also beat expectations and the company's CEO Marissa Mayer said during its earnings webcast that the search giant's core business has moved from declining growth to stable to modest growth. MAJOR MOVERS: Among the notable gainers was CBS Outdoor (CBSO), which jumped $1.94, or 6.69%, to $30.96 after the IRS approved a plan for the company, which was just last week spun-off from its parent CBS (CBS), to convert into a real estate investment trust, or REIT. Other companies seeking REIT status, including Equinix (EQIX), Iron Mountain (IRM) and Lamar Advertising (LAMR), also rose following CBS' announcement. Also higher was drugmaker Zogenix (ZGNX), up 48c, or 20.51%, to $2.82 after confirming that a judge prevented a ban on sales of the company's Zohydro pain medication in Massachusetts. Among the noteworthy losers were U.S.-listed shares of Credit Suisse (CS), which fell 54c, or 1.7%, to $31.22 after the Swiss bank reported net income and revenue that fell when compared to the prior year. Also lower were Agnico Eagle Mines (AEM) and Yamana Gold (AUY) after agreeing to jointly acquire Osisko Mining. Angico shares fell $2.61, or 8.56%, to $27.88, while Yamana was down 36c, or 4.3%, to $8.02. INDEXES: The Dow was up 162.29, or 1.0%, to 16,424.85, the Nasdaq was up 52.06, or 1.29%, to 4,086.23, and the S&P 500 was up 19.33, or 1.05%, to 1,862.31.
15:10 EDTIRMCBS Outdoor, other REIT seekers rise after IRS ruling
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14:47 EDTIRMIron Mountain, Lamar Advertising higher after IRS ruling on CBS Outdoor
Shares of Iron Mountain (IRM), up 3%, and Lamar Advertising (LAMR), up 4%, are higher after the IRS approved CBS Outdoor's (CBSO) plan to convert to a REIT. Iron Mountain and Lamar have both been seeking to gain REIT status with the IRS. Shares of CBS Outdoor are also higher, up more than 5%, following the announcement, as are shares of its parent company, CBS (CBS), up more than 2%.
06:55 EDTTRIPTripAdvisor says app hits 100M downloads for iPhone, Android
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April 15, 2014
16:22 EDTADMOn The Fly: Closing Wrap
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13:19 EDTADMArcher Daniels announces $350M unit sale to Mosaic, other actions
Archer Daniels Midland (ADM) announced three actions in the company’s ongoing portfolio management. ADM has signed an agreement to sell its fertilizer business in Brazil and Paraguay to The Mosaic Company (MOS) for $350M. The transaction consists primarily of five ADM-owned blending facilities in Brazil and Paraguay. The purchase price includes $150M in working capital. As part of the transaction, ADM will purchase fertilizer from Mosaic after the closing and will continue to supply certain fertilizer customers in Brazil and Paraguay. ADM also announced it will pursue the sale of its chocolate business, while retaining the majority of its cocoa press operations. The company has engaged advisers to facilitate the sale process. Finally, ADM announced it will acquire the remaining 20% minority stake of Alfred C. Toepfer International for EUR83M, representing about 1.1x net book value. The proposed transaction, which is occurring through the exercise of a put agreement by Union InVivo, will be subject to customary regulatory approvals. Since 2002, ADM has owned 80% of Toepfer. InVivo will remain a strategic business partner for ADM in Europe.
12:31 EDTADMMosaic to acquire Archer Daniels' Brazil, Paraguay fertilizer units
Mosaic (MOS) signed definitive agreements with Archer Daniels Midland (ADM) to acquire its fertilizer distribution business in Brazil and Paraguay for $350M. The purchase price assumes the delivery of $150M in working capital at closing. This acquisition is expected to accelerate Mosaic's previously announced growth plans in Brazil as well as replace planned internal investments in that country. Under the terms of the agreement, Mosaic would acquire four blending and warehousing facilities in Brazil, one in Paraguay and additional warehousing and logistics service capabilities. The acquisition of ADM's fertilizer distribution business would increase Mosaic's annual distribution in the region from approximately 4M metric tonnes to about 6M metric tonnes of crop nutrients. The parties have also negotiated the terms of five-year fertilizer supply agreements providing for Mosaic to supply ADM's fertilizer needs in Brazil and Paraguay. Mosaic will fund the acquisition with cash from operations. The transaction is not expected to impact Mosaic's shareholder distribution plans. The proposed sale will be contingent on customary regulatory approvals.
07:27 EDTTRIPTripAdvisor price target raised to $105 from $94 at Credit Suisse
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05:25 EDTCHDHPC sector upgraded to Neutral from Cautious at Goldman
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April 14, 2014
19:32 EDTHAWKBlackhawk completes spin-off from Safeway
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10:30 EDTRHTHigh option volume stocks: ZLTQ GLOG RHT SBAC EW
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06:11 EDTTRIPTripAdvisor recent pullback a buying opportunity, says Piper Jaffray
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April 11, 2014
12:42 EDTZOn The Fly: Analyst Initiation Summary
ASML (ASML) initiated with a Cautious at ISI Group... Analog Devices (ADI) initiated with a Buy at ISI Group... Applied Materials (AMAT) initiated with a Strong Buy at ISI Group... Aruba Networks (ARUN) initiated with a Buy at SunTrust... Broadcom (BRCM) initiated with a Neutral at ISI Group... CSX (CSX) initiated with an Outperform at Macquarie... Cisco (CSCO) initiated with a Buy at SunTrust... F5 Networks (FFIV) initiated with a Neutral at SunTrust... Genesee & Wyoming (GWR) initiated with a Neutral at Macquarie... Intel (INTC) initiated with a Neutral at ISI Group... Juniper (JNPR) initiated with a Buy at SunTrust... KLA-Tencor (KLAC) initiated with a Neutral at ISI Group... Lam Research (LRCX) initiated with a Strong Buy at ISI Group... Linear Technology (LLTC) initiated with a Cautious at ISI Group... Maxim Integrated (MXIM) initiated with a Neutral at ISI Group... Micron (MU) initiated with a Strong Buy at ISI Group... NVIDIA (NVDA) initiated with a Neutral at ISI Group... NXP Semiconductors (NXPI) initiated with a Strong Buy at ISI Group... Qualcomm (QCOM) initiated with a Strong Buy at ISI Group... Riverbed (RVBD) initiated with a Neutral at SunTrust... SanDisk (SNDK) initiated with a Neutral at ISI Group... Teradyne (TER) initiated with a Buy at ISI Group... Texas Instruments (TXN) initiated with a Neutral at ISI Group... Trulia (TRLA) initiated with a Neutral at Susquehanna... Union Pacific (UNP) initiated with a Neutral at Macquarie... Zillow (Z) initiated with a Positive at Susquehanna... Flamel Technologies (FLML) initiated with a Buy at Roth Capital... Parker Drilling (PKD) initiated with an Accumulate at Tudor Pickering.
April 10, 2014
16:10 EDTZZillow initiated with a Positive at Susquehanna
Target $115.
14:22 EDTTRIPTripAdvisor volatility increases on wide price movement
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10:06 EDTZZillow volatility elevated on tight price movement
Zillow April call option implied volatility is at 60, May is at 71, August is at 57; above its 26-week average of 53 according to Track Data, suggesting large price movement.
April 9, 2014
12:04 EDTADM, ANDEU.S. corn exports projected to increase 125M bushels
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08:24 EDTOXFDPiper Jaffray's medtech analysts hold an analyst/industry conference call
The MedTech Analyst Team focuses on Piper Jaffray's covered universe from the perspective of Technical Analyst Johnson ahead of 1Q14 earnings results on an Analyst/Industry conference call to be held on April 11 at 10 am.
06:20 EDTTRIPGoogle adds more photos, reviews to hotel business, WSJ says
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