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Stock Market & Financial Investment News

News Breaks
June 8, 2012
12:12 EDTCNC, CHKM, PRGS, MOH, CHK, ATPG, MCDOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday ahead of a number of potentially market moving events expected over this weekend. Stock futures began the day indicating a sharply lower open, putting the Dow's three day winning streak in jeopardy. The weakness was attributed to continuing worries about the EU's ability to support Spanish banks. The market opened lower, but found a level where it sat and began to build. An hour into the trading session the market had recouped more than half of its losses and a short time later moved back into positive territory. What looked like a day that would end in a sell off has now climbed a wall of worry into positive territory and the averages are once again positive for the year... ECONOMIC EVENTS: In the U.S., April's trade balance report was generally in line and wholesale inventories in the month increased 0.6%, versus an expected increase of 0.4%. In Europe, Spain is set to become the fourth, and largest, country to seek assistance since Europe's debt crisis began, according to Reuters. The news service cited officials in Brussels and Berlin, saying a conference call is planned for Saturday morning to discuss a Spanish request for aid... COMPANY NEWS: Chesapeake Energy (CHK) was in focus as it held its annual shareholder meeting, where two current directors resigned after shareholder voting and a proposal to amend the company's long term incentive plan passed. Also, the company announced three separate transactions to sell its midstream assets for total proceeds of more than $4B, including the sale of its general partner interests in Chesapeake Midstream Partners (CHKM) to Global Infrastructure Partners for $2B... McDonald's (MCD) reported disappointing worldwide same store sales growth of 3.3% in May, as results were dragged down by the company's performance in Asia, the Middle East and Africa. The fast food giant also warned that its Q2 results could be pressured by austerity measures in Europe, foreign currency effects and macro headwinds, sending shares down a bit more than 0.75%... MAJOR MOVERS: Among the notable gainers was Molina Healthcare (MOH), which rebounded from a slide yesterday to gain more than 27% today, after the company announced last night that it will continue as a Medicaid managed care provider in Ohio. Centene (CNC), up 10%, also benefited from Ohio reversing its earlier decision and recommending the company for a Medicaid contract. Noteworthy losers included ATP Oil & Gas (ATPG), down more than 13%, after the company said it was unable to come to an employment agreement with recently hired CEO Matt McCarroll, resulting in his resignation, and Progress Software (PRGS), down 13%, following its warning that its Q2 earnings and revenue will fall short of consensus estimates... INDICES: Near noon, the Dow was up 11.58, or 0.09%, to 12,472.54; the Nasdaq was up 8.32, or 0.29%, to 2,839.34; and the S&P 500 was up 1.04, or 0.08%, to 1,316.03.
News For CHK;CHKM;MCD;MOH;CNC;ATPG;PRGS From The Last 14 Days
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February 25, 2015
07:05 EDTCHKChesapeake sees 2015 adjusted production growth 3%-5%
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07:03 EDTCHKChesapeake reports Q4 adjusted EPS 11c, consensus 24c
Reports Q4 revenue $5.05B, consensus $4.83B. Chesapeake’s daily production for Q4 averaged approximately 729,000 boe, a year-over-year increase of 12%, adjusted for asset sales. Average daily production in Q4 consisted of approximately 121,200 bbls of oil, 3.1 bcf of natural gas and 97,600 bbls of NGL, which represent year-over-year increases of 7%, 9% and 40% respectively, adjusted for asset sales.
February 24, 2015
15:21 EDTCHKNotable companies reporting before tomorrow's open
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10:06 EDTCNCHigh option volume stocks
High option volume stocks: CHGG LBTYK SMH RCAP NGLS OTEX TERP CNC ALKS AMT
08:00 EDTCNCCentene subsidiary announces successful reprocurement of foster care contract
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February 23, 2015
19:40 EDTMOH, CNCLeerink healthcare services analyst holds an analyst/industry conference call
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12:21 EDTCNC, MOHOn The Fly: Midday Wrap
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11:10 EDTCNC, MOHHealth insurers rise after CMS releases preliminary Medicare Advantage rates
The shares of a number of health insurers are rising after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for health insurers. WHAT'S NEW: On Friday after the market closed, CMS issued a proposal for 2016 Medicare Advantage rates. The rates are preliminary and could change when CMS announces the final 2016 rates on April 6 of this year, the agency noted. In a note to investors earlier today, Credit Suisse analyst Ralph Giacobbe estimated that, under CMS' initial proposal, insurers would see rate changes of between -1% and +1%, depending on the risk that each insurer faces. The preliminary rates were "favorable" for insurers, since the rates were "in-line if not slightly better" than investors had expected, the firm stated. Moreover, CMS decided not to restrict at-home health risk assessments, as had been feared, and agreed to reduce the weighting of certain risk factors that had hurt previously certain plans with a higher proportion of low-income beneficiaries, acceding to a request by insurers. Insurers with the highest exposure to Medicare Advantage include Humana (HUM), UnitedHealth (UNH), and WellCare (WCG), the analyst stated. WHAT'S NOTABLE: After analyzing CMS' proposal, health insurer Aetna (AET) estimated that the proposal would cause government funding for its Medicare Advantage business to decline by about 1% in 2016. Aetna added that it is continuing to evaluate the changes outlined in the Advance Notice and their impact on the company and its Medicare Advantage members. OTHERS TO WATCH: Other publicly traded health insurance companies include Anthem (ANTM), AMERIGROUP (AGP), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), and Molina Healthcare (MOH). PRICE ACTION: In mid-morning trading, Humana climbed 5.3% to $164.43, UnitedHealth rose 2.6% to $115.56, WellCare gained 6.3% to $90, Aetna advanced 2% to $99.91, and Centene added 3.4% to $61.93.
08:05 EDTMOH, CNCCMS releases preliminary Medicare Advantage rates for 2016
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February 22, 2015
15:31 EDTMCDMcDonald's under pressure to raise hourly pay as Wal-Mart sets bar, Reuters says
According to labor experts McDonald's (MCD) and its franchisees may be under pressure to raise hourly wages as the improved economic landscape increases competition for good workers and as retailer Wal-Mart (WMT) raises its hourly pay, says Reuters. Reference Link
February 20, 2015
16:03 EDTMCDOptions Update; February 20, 2015
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09:38 EDTMCDActive equity options trading on open
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08:51 EDTMOHMolina Healthcare estimates raised above Street at Sterne Agee
Sterne Agee raised its 2015 EPS estimate for Molina to $3 from $2.13 and increased its 2016 EPS estimate for the company to $4 from $2.95. The firm thinks the company's medical cost results will be better than its current guidance.
06:04 EDTCHKChesapeake March volatility elevated into Q4 and outlook
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February 19, 2015
09:35 EDTMCDOption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
February 18, 2015
06:56 EDTMOH, CNCObamacare enrollment exceeded goal, Politico reports
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February 17, 2015
17:43 EDTCHKAmerican Energy - Utica responds to Chesapeake lawsuit
American Energy – Utica, LLC, or AEU, and The Energy & Minerals Group, or EMG, responded to a meritless lawsuit commenced against AEU by Chesapeake Energy. Chesapeake has erroneously included AEU and certain yet to be named investors in a lawsuit it filed today against certain entities owned or controlled by Aubrey McClendon including American Energy Partners, LP, based on a dispute it has with McClendon in which Chesapeake alleges McClendon misappropriated certain Chesapeake trade secrets upon his separation from Chesapeake in 2013. Chesapeake clearly does not understand the ownership or structure of AEU, which is controlled by EMG, and Chesapeake has made no attempt to understand the ownership structure prior to carelessly and erroneously naming AEU as a party to its lawsuit. The allegations in the Chesapeake lawsuit against AEU are meritless given that all information used by AEU in connection with the acquisition of its assets was either publicly available, provided by the sellers of those assets or independently developed by The Energy & Minerals Group or W.D. Von Gonten & Co., a widely regarded independent petroleum engineering and geological firm with whom EMG has a long standing relationship. EMG is the largest equity investor in AEU followed by First Reserve. Both EMG and FR have been involved with AEU since the initial acquisition of its assets in October, 2013 yet neither was contacted by Chesapeake prior to the filing of this lawsuit. AEU will immediately respond to and vigorously defend this lawsuit and expects to be removed as a defendant as quickly as possible. Additionally, AEU and EMG intend to bring any and all appropriate counterclaims against Chesapeake for the filing of such a meritless case without conducting any reasonable investigation into the factual and legal basis for the claim and for any damages that are incurred by any of such parties as a result.
11:24 EDTCHKMcClendon, American Energy say Chesapeake lawsuit 'baseless'
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10:41 EDTCHKChesapeake files suit against founder McClendon, Reuters reports
Chesapeake Energy filed suit today alleging that its founder and former CEO, Aubrey McClendon, "misappropriated highly sensitive trade secrets" in order to launch his new venture American Energy Partners, Reuters reports. Reference Link
07:24 EDTMCDExecutives' Club of Chicago to hold a breakfast meeting
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