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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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April 22, 2014
11:19 EDTMCDMcDonald's sees FY14 market dynamics to remain similar to FY13
Says U.S., Germany, Australia, Japan "priorities" for company. Sees "volatile" results in near-term. Says evaluating opportunities to return value to shareholders. Says will continue to build on strength of morning business. Says remains cautious on Europe in the near-term." Sees significant growth potential through Asia Pacific, Middle East & Africa. Says committed to returning all free cash to shareholders via buybacks, dividends. Says priority is to invest in business. Says Q1 commodity costs were up 3% in the U.S., sees similar commodity pressure in Q2.
11:08 EDTMCDMcDonald's says sees April global comparable sales modestly positive
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10:00 EDTCNCCentene rises 11.9%
Centene is up 11.9%, or $6.81, to $64.10
09:16 EDTMCDOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 8%... Harley-Davidson (HOG), up 7%... PLX Technology (PLXT), up 8%... Illinois Tool (ITW), up 2.3%... Comcast (CMCSA), up 1%... McDonald's (MCD), up 0.6%. ALSO HIGHER: Allergan (AGN), up 17% after Valeant (VRX) confirms proposal to combine with the company for $48.30 and 0.83 shares of stock. Valeant is up 5% following its confirmation of the news that broke last night... GlaxoSmithKline (GSK), up 4.5% after agreeing to sell oncology products for $14.5B to Novartis (NVS) and buy Novartis' Vaccines business, currently excluding its flu business, for $7.1B plus royalties. Novartis shares trading in New York are also up 1% following the deals... Revance Therapeutics (RVNC), up 20% after announcing positive results from RT002 Phase 1/2 study... Facebook (FB), up 2% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Xerox (XRX), down 4%... Lexmark (LXK), down 4.8%. ALSO LOWER: Allison Transmission (ALSN), down 4% after filing to sell 25M shares for holders... FireEye (FEYE), down 2.9% after filing to sell 13.3M shares of common stock for holders... Bebe stores (BEBE), down 16% after reporting preliminary Q3 losses that were steeper than the consensus estimate.
08:08 EDTMCDMcDonald's says Q1 results in U.S. reflect negative comparable guest traffic
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08:06 EDTMCDMcDonald's says it is focused on stabilizing key markets
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08:02 EDTMCD McDonald's reports Q1 global comp sales up 0.5%
Reports Q1 U.S. comp sales down 1.7%; Reports Q1 Europe comp sales up 1.4%; Reports Q1 Asia/Pacific, Mideast, Africa comp sales up 0.8%
08:01 EDTMCDMcDonald's expects April global comparable sales to be 'modestly positive'
07:58 EDTMCDMcDonald's reports Q1 EPS $1.21, consensus $1.24
Reports Q1 revenue $6.70B, consensus $6.73B
06:13 EDTCNCCentene raises FY14 EPS view to $3.60-$3.90, consensus $3.59
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06:08 EDTCNCCentene reports Q1 EPS ex-items 79c, consensus 44c
Reports Q1 revenue $3.46B, consensus $3.25B. Reports diluted EPS of 79c excluding 16c of net cost associated with the health insurer fee and 6c of U.S. Medical Management acquisition transaction costs. Michael F. Neidorff, Centene's chairman and CEO, stated, "The company continues to diversify and add capabilities to the business, driving significant revenue and earnings growth year over year in Q1. Our guidance increase is driven by strong Q1 results across all metrics providing positive momentum for the remainder of the year."
April 21, 2014
15:16 EDTMCDNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 64c; United Technologies (UTX), consensus $1.27; McDonald's (MCD), consensus $1.24; Simon Property Group (SPG), consensus $2.24; Lockheed Martin (LMT), consensus $2.53; Bank of New York Mellon (BK), consensus 53c; Illinois Tool Works (ITW), consensus 98c; Travelers (TRV), consensus $2.16; Omnicom Group (OMC), consensus 79c; Pentair (PNR), consensus 73c; Harley-Davidson (HOG), consensus $1.08; Regions Financial (RF), consensus 20c; Genuine Parts Company (GPC), consensus $1.02; Xerox (XRX), consensus 24c; Carlisle (CSL), consensus 53c.
12:51 EDTMCDEarnings Preview: McDonald's shares up more than 3% year-to-date
McDonald's (MCD) is scheduled to report first quarter earnings before the open on Tuesday, April 22, with a conference call scheduled for 11:00 am ET. McDonald’s franchises and operates fast food restaurants globally. EXPECTATIONS: Analysts are looking for earnings per share of $1.24 on revenue of $6.73B, according to First Call. The consensus range for EPS is $1.20-$1.29 on revenue of $6.61B-$6.99B. LAST QUARTER: McDonald's reported fourth quarter EPS of $1.40 against estimates of $1.39 and revenue of $7.09B against estimates of $7.11B. McDonald's also reported global comparable sales down 0.1%, with U.S. SSS down 1.4%, Europe SSS up 1% and Asia/Pacific, Mideast, Africa SSS down 2.4%. On its conference call, the company said it expects to return $5B to shareholders in 2014 through dividends and share repurchases. The company gave fiscal year 2014 guidance for capital expenditures of $2.9B-$3.B, and said the investment will provide for 1,500-1,600 new restaurant openings and the reimaging of over 1,000 existing locations. McDonald's also forecast FY14 commodity costs up 1%-2% in the U.S. NEWS: During the quarter, McDonald's announced that Chief Operating Officer Tim Fenton will retire, effective October 1. He will serve as COO during a brief transition period, and then as a special advisor to Chief Executive Officer Don Thompson. The company will not replace the COO role, but will broaden responsibilities for Pete Bensen, Executive Vice President and Chief Financial Officer, and Steve Easterbrook, Executive Vice President and Global Chief Brand Officer. At the RBC Capital Markets Consumer & Retail Conference in March, CFO Bensen said the U.S. has the "most need" for improvement in the short-term and that the company is looking for ways to optimize capital structure while maintaining long-term financial strength. Bensen previously indicated that the company could raise its target of returning $5B to shareholders if the company increased its leverage. McDonald's also faced lawsuits during the quarter around the country claiming the restaurant chain was "systematically" stealing employees' wages, Reuters reported. PRICE ACTION: McDonald's shares are trading up over 5% over the last three months and are up over 3% year-to-date.
06:44 EDTMCDCompetitors gaining ground on McDonald's breakfast market, WSJ says
McDonald's (MCD) faces increased competition from Yum Brands' (YUM) new Taco Bell breakfast menu as well as Burger King (BKW), Dunkin' Brands (DD), Starbucks (SBUX), and White Castle's renewed efforts to gain ground in the breakfast market, reports the Wall Street Journal. Reference Link
06:34 EDTMCDMcDonald's planning makeover for China restaurants, WSJ reports
McDonald's is planning to overhaul some restaurants in China's big cities and add commercials featuring basketball star LeBron James, the Wall Street Journal reports. Reference Link
April 16, 2014
11:36 EDTPRGSProgress Software management to meet with Jefferies
Meetings to be held in Baltimore/Philadelphia on April 22 hosted by Jefferies.
10:00 EDTCNCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: A10 Networks (ATEN) initiated with a Buy at BofA/Merrill... Actavis (ACT) initiated with a Buy at Sterne Agee... Allergan (AGN) initiated with a Buy at Sterne Agee... Autohome (ATHM) initiated with a Neutral at Credit Suisse... BitAuto (BITA) initiated with an Outperform at Credit Suisse... Centene (CNC) initiated with a Neutral at UBS... Endo International (ENDP) initiated with a Buy at Sterne Agee... FS Investment (FSIC) initiated with an Overweight at Evercore... Hertz (HTZ) initiated with a Buy at Gabelli... Hilton (HLT) initiated with a Hold at Jefferies... Hospira (HSP) initiated with a Neutral at Sterne Agee... ImmunoGen (IMGN) initiated with a Buy at Canaccord... Impax (IPXL) initiated with a Neutral at Sterne Agee... Imperva (IMPV) assumed with a Neutral at Wedbush... Ingredion (INGR) initiated with an Outperform at Credit Suisse... Laredo Petroleum (LPI) initiated with an Outperform at RW Baird... Lpath (LPTN) initiated with a Buy at Canaccord... MediWound (MDWD) initiated with an Outperform at Oppenheimer... Medivation (MDVN) initiated with a Hold at Canaccord... NPS Pharmaceuticals (NPSP) assumed with a Buy at Canaccord... Nimble Storage (NMBL) initiated with a Market Perform at Raymond James... Regeneron (REGN) initiated with a Buy at Canaccord... Salix (SLXP) initiated with a Buy at Sterne Agee... Sibanye Gold (SBGL) initiated with an Outperform at Imperial Capital... Teva (TEVA) initiated with a Neutral at Sterne Agee... Wipro (WIT) assumed with a Hold at Jefferies.
05:34 EDTCNCCentene initiated with a Neutral at UBS
Target $62.
April 15, 2014
06:32 EDTCNC, MOHPatients paying much more for specialty drugs, NY Times says
The amount that patients with certain diseases must pay for specialty drugs has increased significantly, a research firm reported, according to The New York Times. Meanwhile, consumers' use of health care increased in 2013 for the firm time in three years, the newspaper quoted the firm, the IMS Institute for Healthcare Informatics, as saying. Publicly traded drug makers include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Publicly traded health insurers include AMERIGROUP (AGP), Aetna (AET), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH), WellCare (WCG) and WellPoint (WLP).Reference Link
April 9, 2014
09:36 EDTCHKActive equity options trading on open
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