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June 18, 2014
2014 Global Consumer Conference to be held in Nantucket, MA on June 18-19.
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October 1, 2015
06:16 EDTWMTWal-Mart to lay off hundreds of employees at Arkansas headquarters, Reuters says
Wal-Mart plans to cut hundreds of jobs at its headquarters in Arkansas in an effort to pare costs, Reuters reports, citing people familiar with the matter. Fewer than 500 employees are expected to have their employment terminated and an announcement could come as early as Friday, the report says. Reference Link
05:32 EDTSPLSStocks with implied volatility above IV index mean; ODP SPLS
Stocks with implied volatility above IV index mean; Office Depot (ODP)95, Staples (SPLS) 70 according to iVolatility.
September 30, 2015
10:47 EDTCVSLeerink analyst/industry conference call date/time changed from October 8 10 am
Healthcare Distribution & Technology Larsen, along with Diplomat Pharmacy Chairman & CEO Hagerman and CFO & Secretary/Treasurer Whelan, provide industry insights including the potential impact of Hillary Care, the influence CMS may have on overall drug pricing and recent stock volatility on an Analyst/Industry conference call now being held at a new date and time of September 30 at 5 pm.
09:43 EDTJAHElmer's Products exploring possible sale, Reuters reports
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09:05 EDTCVSCVS Health announces partnership with MassChallenge and Rock Health
CVS Health announced that it was partnering with top startup accelerator MassChallenge and digital health venture fund Rock Health to drive faster innovation and expand areas of focus for connected health solutions.
05:33 EDTSPLSStocks with implied volatility above IV index mean; ODP SPLS
Stocks with implied volatility above IV index mean; Office Depot (ODP) 101, Staples (SPLS) 73 according to iVolatility.
September 29, 2015
11:38 EDTJACKMcDonald's rises as analysts weigh in on fast food sector
Shares of McDonald's (MCD) rose in morning trading after Credit Suisse upgraded the Big Mac maker to Outperform. Some McDonald's competitors were also active after Telsey Advisory initiated coverage on multiple companies in the quick-serve and fast casual restaurant space. WHAT'S NEW: Credit Suisse analyst Jason West upgraded McDonald's to Outperform and raised his price target on its shares to $112 from $110. West said that more improvements for the company are "forthcoming" even after CEO Steve Easterbrook announced positive operational and financial steps. The analyst added that checks suggest that U.S. same-store sales trends are beginning to turn as a result of operational and menu changes, as well as some new product wins. West said he sees 5%-6% possible upside to current 2016 expectations and views a favorable risk/reward of roughly 2%-3% downside as opposed to 20% upside, even if the turnaround is "fairly modest." NOTABLE INITIATIONS: Separately, Telsey Advisory Group analyst Bob Derrington initiated coverage of several companies in the restaurant sector, stamping Panera (PNRA) with an Outperform rating and a $225 price target. The analyst noted that the company's plan to become a better dining alternative continues to build traction and that same-store sales trends are likely to speed up in 2016 and 2017. Derrington initiated Jack in the Box (JACK) with an Outperform rating and a price target of $95, as he sees it being positioned for strong appreciation in the year ahead based on management's plan to revitalize and differentiate the Jack in the Box brand. The analyst also expects the company to further differentiate, improve the returns, and position its Qdoba brand for quick growth and recycle its franchise cash flow for better shareholder returns. Derrington initiated coverage of Chipotle (CMG) with a Market Perform rating and an $800 price target, saying that despite the firm's positive prospects due to better-than-most-peer same-store sales and revenue growth, the company's margin risk makes him take a more cautious approach to his rating of the stock. The analyst also tagged Buffalo Wild Wings (BWLD) with a Market Perform rating and a $220 price target, noting that the company's strong growth prospects seem to be reflected in its premium valuation. PRICE ACTION: In morning trading, McDonald's shares rose 1.6% to $97.49, Panera shares gained 0.9% to $191, Jack in the Box advanced 1.1% to $78.24, Chipotle added 1% to $715 and Buffalo Wild Wings were 1.3% higher at $195.68.
10:00 EDTJACKOn The Fly: Analyst Initiation Summary
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07:11 EDTWMTWal-Mart expands pick-up service to new markets, Fortune says
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06:10 EDTJACKJack in the Box initiated with an Outperform at Telsey Advisory
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September 28, 2015
08:33 EDTJAHSpeed Commerce, Yankee Candle extend agreement through June 2021
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06:42 EDTWMTPerfume makers look to Wal-Mart, Target, WSJ reports
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September 25, 2015
12:38 EDTSPLSOptions with increasing implied volatility
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06:42 EDTSPLSStaples issues statement regarding European Commission announcemeent
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05:55 EDTSPLSEU opens investigation into Staples, Office Depot merger
The European Commission said it has opened an in-depth investigation under the EU Merger Regulation into the acquisition of Office Depot (ODP) by its competitor Staples (SPLS). The Commission "has concerns that the takeover could lead to price increases and less choice." It added, "Both Staples and Office Depot are active in the distribution of office products via a number of sales channels, including wholesale, retail, direct sales and national or international supply contracts. The Commission's preliminary investigation indicated potential competition concerns in the market for the supply of office products to business customers through international contracts in the European Economic Area, as well as in the market for the supply of office products to business customers through national contracts in the Netherlands and Sweden. The customers of office supplies include companies in the private sector and public administrations." The Commission now has 90 working days, until February 10, 2016, to take a final decision.
05:20 EDTSPLSStocks with implied volatility above IV index mean; ODP SPLS
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September 24, 2015
15:39 EDTSPLSOffice Depot, Staples advance after another merger deal clears hurdle
Office Depot (ODP) and Staples (SPLS), which are awaiting FTC approval to merge, spiked higher after a report that a Judge denied the FTC's request to temporarily halt the merger of two other unrelated companies. WHAT'S NEW: STERIS Corporation (STE) confirmed earlier reports that the U.S. District Court for the Northern District of Ohio has denied the Federal Trade Commission's request for a preliminary injunction to block STERIS's acquisition of Synergy Health. Office Depot and Staples, which announced plans to merge early last year, have been waiting for regulatory approval of their merger. According to a NY Post report from Tuesday, the proposed $11.3B merger of Staples and Office Depot may not happen due to a possible block from U.S. regulators. WHAT'S NOTABLE: The STERIS deal for Synergy Health, which was announced in October of 2014, was also closely scrutinized by the FTC. On May 29, STERIS and Synergy Health said they had been informed by the FTC that the FTC intends to seek to block their proposed combination. STERIS and Synergy said at the time that they will contest the FTC's attempted action, and that they welcome a full judicial review of the competitive effects of the combination. ANALYST TAKE: In a note out earlier in the week, Jefferies analyst Daniel Binder still expects the merger between Staples and Office Depot to win regulatory approval after the New York Post report that said Deborah Feinstein, the Federal Trade Commission Bureau of Competition head, is seeking to block the deal. Admitting he's in the minority, Binder said his work indicates that economic data for the deal "may not be damning," customer complaint activity is low and key industry player WB Mason is not in talks to be part of a solution for an FTC remedy requirement. The proposed merger could still get approved without a remedy requirement, the analyst told investors. He viewed the risk/reward on shares of Staples as favorable. If approved, enthusiasm around deal synergies could push the stock to $20, Binder wrote. If regulators deny the merger, the shares of Staples could trade between $11 and $12, the analyst added. PRICE ACTION: In late afternoon trading, shares of Office Depot are up 4% while Staples shares are higher by 2.4%.
15:06 EDTSPLSOffice Depot volatility up on uncertainty of FTC approval of merger with Staples
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14:56 EDTSPLSStaples volatility up on uncertainty of FTC approval of merger with Office Depot
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07:32 EDTJACKJack in the Box has reached 'interesting' entry point, says Oppenheimer
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