|
|
News Breaks | | | | June 25, 2012 | | 12:19 EDT |  | CHK, GEOY, DELL, QSFT, TEVA, STZ, GPMCF, BUD, ECA, MNTA | On The Fly: Midday Wrap
Stocks on Wall Street were lower at midday as two more European nations officially requested aid from the European Union. The broader market opened lower and has remained deep in negative territory for the entire session. Each of the major equity indices is down by at least 1.3% with the losses broad based. Investors are questioning whether there will be any positive developments out of the EU summit later this week after both Spain and Cyprus formally put in requests for assistance. The domestic economic data was mixed, with some surprisingly strong new home sales data tempered by the poor Chicago Fed national activity index... ECONOMIC EVENTS: In the U.S., sales of new homes increased 7.6% sequentially in May to a seasonally adjusted annual rate of 369,000 homes, beating expectations for an increase of just 1.0%. The Chicago Fed national activity index had a reading of -0.45, versus expectations of a reading of -0.30, while the Dallas Fed manufacturing index rebounded to 5.8 in June. In Europe, Spain formally requested European aid and Cyprus soon after followed suit. Also, reports indicated that the man selected to be Greece's finance minister will not take the position... COMPANY NEWS: Chesapeake Energy (CHK) shares sunk about 9% after Reuters said that the company plotted with Encana (ECA), Canada's largest natural gas firm, to suppress land prices in a promising oil and gas play in Michigan... Shares of Anheuser-Busch InBev (BUD) moved up about 0.6% after being halted for trading after various media sources reported that the company is in talks to take control of Grupo Modelo (GPMCF), the maker of Corona beer. Anheuser-Busch confirmed the talks but said a deal has not been reached yet and any speculation about a transaction is premature. Shares of Constellation Brands (STZ) also rose over 13%, since Anheuser-Busch's purchase may include the buyout of a Constellation/Modelo distribution joint venture... MAJOR MOVERS: Among the notable gainers was Teva (TEVA), up more than 5%, following a favorable ruling for the company in a patent infringement lawsuit related to its Copaxone drug for multiple sclerosis, and Quest Software (QSFT), up over 5% as well, after the company said it received a $27.50 per share offer from an unnamed strategic bidder that is superior to its pending transaction with Insight Venture Partners. Reuters reported that the superior proposal came from Dell (DELL) but that was unconfirmed by the companies. Among the noteworthy losers were GeoEye (GEOY), down 29%, after being downgraded at both Benchmark and Raymond James after a government agency decided not to exercise its full-year contract extension option, and Momenta Pharmaceuticals (MNTA), down nearly 20%, following its loss in its patent fight with Teva over Copaxone... INDICES: Near noon, the Dow was down 172.59, or 1.37%, to 12,468.19; the Nasdaq was down 60.48, or 2.09%, to 2,831.94; and the S&P 500 was down 24.84, or 1.86%, to 1,310.18. | |
|
News For CHK;ECA;BUD;GPMCF;STZ;TEVA;QSFT;DELL;GEOY;MNTA From The Last 14 Days Check below for free stories on CHK;ECA;BUD;GPMCF;STZ;TEVA;QSFT;DELL;GEOY;MNTA the last two weeks. |
|
|
| May 22, 2013 | | 07:30 EDT |  | CHK | UBS to host a conference
 Subscribe for More Information | | | 07:24 EDT |  | CHK | Chesapeake upgraded to Positive from Neutral at Susquehanna
Susquehanna upgraded Chesapeake based on increased oil and gas forecasts and re-branding initiatives by new CEO Doug Lawler. Price target raised to $26 from $23. | | | 07:24 EDT | | DELL | NetEvents International to host a summit
Subscribe for More Information | | | May 21, 2013 | | 09:33 EDT | | ECA | Bloomberg LINK to host a summit
Subscribe for More Information | | | 07:16 EDT |  | STZ | Constellation Brands volatility low after recent rally to record high
Constellation Brands (STZ) overall option implied volatility of 28 is below its 26-week average of 40 according to Track Data, suggesting decreasing price movement. | | | May 20, 2013 | | 16:55 EDT |  | DELL | S&P lowers Dell ratings to 'BBB' from 'A-', remains on watch negative
Standard & Poor's Ratings Services lowered its corporate credit and senior unsecured debt ratings on Dell to 'BBB' from 'A-', and its commercial paper rating to 'A-2' from 'A-1'. All ratings remain on CreditWatch, where they were placed with negative implications on Feb. 5. The initial CreditWatch listing reflected S&P's assessment that the $24.4B going private transaction, which includes a substantial portion of debt financing, will materially degrade Dell's financial risk profile, which S&P currently view as modest. Although Carl Icahn submitted a non-binding alternative acquisition proposal, the Michael Dell and Silver Lake Partners LBO proposal remains the only transaction that has been approved by Dell's board of directors. S&P's review of the LBO transaction terms and the company's ownership, business and financial strategy may also result in a downward revision of its assessment of Dell's business risk profile. | | | 11:27 EDT | | TEVA | Appeals court reverses, remands patent ruling in Sanofi suit against Mylan, Teva
Subscribe for More Information | | | 11:14 EDT | | DELL | Dell to deliver public cloud through partner ecosystem
Subscribe for More Information | | | 07:05 EDT | | CHK | Chesapeake names Anadarko's Lawler as CEO
Subscribe for More Information | | | 07:04 EDT | | CHK | Chesapeake names Robert Douglas Lawler as CEO
Subscribe for More Information | | | | 07:03 EDT | | DELL | Dell committee says cannot evaluate Icahn proposal without more information
Subscribe for More Information | | | May 19, 2013 | | 13:00 EDT | | CHK | Energy Departmant authorizes second proposed facility to export LNG
The Energy Department announced on Friday that it has conditionally authorized Freeport LNG Expansion, and FLNG Liquefaction, Freeport, to export domestically produced liquefied natural gas, LNG, to countries that do not have a Free Trade Agreement, FTA, with the United States from the Freeport LNG Terminal on Quintana Island, Texas. Freeport previously received approval to export LNG from this facility to FTA countries on February 10, 2011. Subject to environmental review and final regulatory approval, the facility is conditionally authorized to export at a rate of up to 1.4 billion cubic feet of natural gas a day, Bcf/d, for a period of 20 years. The Department granted the first authorization to export LNG to non-FTA countries in May 2011 for the Sabine Pass LNG Terminal in Cameron Parish, Louisiana at a rate of up to 2.2 Bcf/d. Reference Link | | | May 17, 2013 | | 14:03 EDT | | DELL | Market set to finish week with gains after Cisco results, comments
Subscribe for More Information | | | 08:29 EDT | | DELL | JPMorgan's business and information services analyst holds a conference call
Subscribe for More Information | | | 08:02 EDT |  | DELL | Dell results could increase votes for Silver Lake offer, says Wells Fargo
Subscribe for More Information | | | May 16, 2013 | | 18:01 EDT | | DELL | Dell continues to expect 'relatively weak' demand in end-user PC business
Subscribe for More Information | | | 16:29 EDT | | STZ | On The Fly: Closing Wrap
Stocks on Wall Street were lower following some disappointing economic data and a hint from a regional Fed president that the central bank may taper its easing program in the coming months. The averages traded in a narrow range for much of the session before moving lower in the final hour of trading. Comments by San Francisco Fed president John Williams late in the afternoon, suggesting that the central bank may begin slowing its bond buying pace by the summer, may have spurred the late session selling. ECONOMIC EVENTS: In the U.S., initial jobless claims rose 32K to 360K last week, compared to expectations for them to remain relatively stable at 330K. The consumer price index dropped a larger than forecast 0.4% in April, though the "core" CPI rate rose 0.1%, as expected. Housing starts were down 16.5% in April from the prior month, versus an expected decrease of 6.4%, though building permits jumped 14.3% from the prior month, beating an expected increase of 3.8%. The Philadelphia Fed General Business Conditions Index for May came in at -5.2, versus expectations for a +2.2 reading. COMPANY NEWS: Earnings reports from two Dow members, Wal-Mart (WMT) and Cisco (CSCO), sent their shares in opposite directions. Cisco shares added $2.66, or 12.54%, to $23.87 to lead the blue chip index after the company's results beat expectations on the top and bottom lines. Wal-Mart fell $1.36, or 1.7%, to $78.50 after its first quarter earnings sand second quarter outlook missed the consensus forecast... Tesla Motors (TSLA) last night announced a stock and debt offering of more than $800M, with CEO Elon Musk announcing his intent to buy $100M of the offering, and shares of the electric car maker added $7.36, or 8.67%, to $92.20. MAJOR MOVERS: Among notable gainers was Aegerion (AEGR), up $14.73, or 31.37%, to $61.70 after the company said its Juxtapid treatment may have a $1B global market opportunity and at least two analyst firms raised their price targets on its shares. Also higher was Constellation Brands (STZ), up $1.52, or 3.03%, to $51.76 after the stock was upgraded at Stifel and ISI Group. Among noteworthy losers following analyst downgrades were AMD (AMD), which fell 55c, or 12.56%, to $3.83 after Goldman downgraded the stock to Sell, and CSC (CSC), which slid $2.12, or 4.74%, to $42.59 after being cut to Hold at Deutsche Bank. Also lower following its quarterly report was NetQin Mobile (NQ), down 72c, or 7.5%, to $8.88. INDICES: The Dow was down 42.47, or 0.28%, to 15,233.22; the Nasdaq was down 6.38, or 0.18%, to 3,465.24; and the S&P 500 was down 8.31, or 0.50%, to 1,650.47. | | | 16:05 EDT |  | DELL | Dell reports Q1 enterprise solutions, services, software revenue up 12% to $5.5B
Subscribe for More Information | | | 16:02 EDT | | DELL | Dell not providing guidance for Q2
Subscribe for More Information | | | 16:01 EDT | | DELL | Dell reports Q1 adjusted EPS 21c, consensus 35c
Reports Q1 revenue $14.1B, consensus $13.52B. | | |
|
|
|
|
|
|
