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Stock Market & Financial Investment News

News Breaks
May 1, 2012
16:58 EDTHLF, PLXT, CHK, PFCB, SHLD, PBY, IDTI, PFEOn The Fly: Closing Wrap
Stocks on Wall Street were higher following an encouraging report on U.S. manufacturing. Stock futures were quiet during the pre-market trading session as investors digested the latest round of corporate earnings without having to deal with any new economic reports. The futures action led to a relatively quiet open for the broader market. The market received a lift following the ISM manufacturing report, which was better than expected. The data lifted to the market to fresh recovery highs on the Dow while recent highs were also within striking distance for the Nasdaq and S&P. The market met resistance at the new levels and pared its gains in the afternoon hours... ECONOMIC EVENTS: Domestically, the ISM manufacturing index rose to 54.8 in April, beating forecasts for a reading of 53.0. Construction spending for March increased by 0.1%, versus expectations of an increase of 0.5%. In China, the official purchasing managersí index for manufacturing rose to 53.3 in April... COMPANY NEWS: Chesapeake (CHK) said it would appoint a new non-executive chairman in the near future to replace CEO Aubrey McClendon in that role. McClendon, who will remain on as CEO, also agreed to an early termination of the well participation program that has drawn a firestorm of recent backlash from media, investors and regulators. Shares gained $1.16, or 6.29%, to close at $19.60 ahead of the company's earnings report, due out after the bell... Dow component Pfizer (PFE) reported earnings that beat consensus but lowered its full year forecast to account for the divestiture of its Nutrition business... Sears Holdings (SHLD) gained $8.27, or 15.38%, to $62.05 after saying its Q1 domestic same store sales fell 1.3%, which was a significant improvement from the declines seen in the same period last year, and forecasting a return to earnings from continuing operations in the quarter... MAJOR MOVERS: Among the notable gainers were PLX Technology (PLXT), up $2.68, or 67.34%, to $6.66, after saying it will be acquired by Integrated Device Technology (IDTI) for $7 per share in cash and stock, and P.F. Chang's (PFCB), up $11.79, or 29.71%, to $51.48, on news it will be acquired and taken private by Centerbridge Partners for $51.50 per share in cash. Noteworthy losers included Herbalife (HLF), down $14.02, or 19.94%, to $56.30, after hedge fund manager and noted short-seller David Einhorn asked some critical questions during the company's earnings conference call, and Pep Boys (PBY), down $3.31, or 22.17%, to $11.62, after the Gores Group hinted it may attempt to walk away from its proposed $1B takeover of the company following Pep Boys' warning on its Q1 results... INDICES: The Dow gained 65.69, or 0.50%, to 13,279.32; the Nasdaq rose 4.08, or 0.13%, to 3,050.44; and the S&P 500 added 7.91, or 0.57%, to 1,405.82.
News For CHK;PFE;SHLD;PLXT;IDTI;PFCB;HLF;PBY From The Last 14 Days
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April 10, 2014
06:17 EDTPFEAcura Pharma announces return of product rights from Pfizer
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April 9, 2014
09:36 EDTCHKActive equity options trading on open
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April 8, 2014
11:03 EDTPFEPiper Jaffray's biopharm analyst holds an analyst/industry conference call
Biopharm Analyst Schimmer discusses PCSK9 Inhibitors and other atherosclerosis approaches on an Analyst/Industry conference call. Relevant companies AEGR, ALNY, AMGN, ARNA, AZN, BMY, CBST, LLY, ESPR, GSK, ICPT, ISIS, MNKD, MRK, OREX, PFE, REGN, RHHBY, SNY and VVUS may be included on the Analyst/Industry conference call to be held on April 10 at 3 pm.
April 7, 2014
17:28 EDTPFEPfizer sell-off unwarranted, Barron's says
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16:28 EDTPFEOn The Fly: Closing Wrap
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12:15 EDTPFEOn The Fly: Midday Wrap
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10:40 EDTPFEPfizer trades near lows of the day, levels to watch
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09:10 EDTPFEOn The Fly: Pre-market Movers
HIGHER: Questcor (QCOR), up 27% after agreeing to be bought by Mallinckrodt (MNK) for cash, stock valued at $86.10 per Questcor share... Agios Pharmaceuticals (AGIO), up 25% after program shows "promising clinical activity" for advanced blood cancers, shares upgraded at JPMorgan... Vocus (VOCS), up 47% after agreeing to be acquired by GTCR for $446.5M, or $18.00 per share... Pandora (P), up 1.3% following upgrade at Wedbush. LOWER: MannKind (MNKD), down 13% after announcing FDA extension of PDUFA date for Afrezza... American Eagle (AEO), down 2.2% following downgrade at Cowen... Pfizer (PFE), down 2.8% after announcing data for palbociclib in metastatic breast cancer... Mattel (MAT), down 3% following downgrade at BMO Capital... WWE (WWE), down 1.2% after cautious mention in Barron's, company announcing WrestleMania 30 grossed $10.9M.
09:09 EDTPFEConfusion on Pfizer Palbo could create buying opportunity, says BMO Capital
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09:00 EDTPFEPfizer falls 2.8%
Pfizer is down 2.8%, or 90c, to $31.25
07:27 EDTPFEAmerican Association of Cancer Research to hold annual meeting
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07:01 EDTSHLDEquity One names David Lukes as next CEO
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April 6, 2014
13:46 EDTPFEPfizer's palbociclib significantly prolonged PFS in metastatic breast cancer
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April 5, 2014
19:03 EDTSHLDSears completes Land's End spin-off, receives $500M in gross proceeds
Sears Holdings (SHLD) announced that its pro-rata spin-off of Lands' End (LE) from Sears Holdings closed on April 4. Lands' End has now been separated from Sears Holdings and its common stock is expected to begin regular-way trading on the Nasdaq Capital Market under the symbol LE on April 7. Sears Holdings will continue to be listed on the Nasdaq Global Select Market under the symbol SHLD. Sears Holdings received aggregate gross proceeds from the spin-off of $500M, consisting of a cash dividend paid by Lands' End prior to the spin-off to a subsidiary of Sears Holdings. In the spin-off, Sears Holdings distributed a total of approximately 32M shares of Lands' End common stock to the holders of Sears Holdings common stock as of 5:30 p.m. Eastern time on March 24, the record date. Each share of Sears Holdings common stock outstanding as of the record date entitles the holder thereof to receive 0.300795 shares of Lands' End common stock, except that holders of Sears Holdings' restricted stock that was unvested as of the record date will receive cash awards in lieu of shares. In addition, as part of the spin-off, Lands' End entered into an asset-based senior secured revolving credit facility, which provides for maximum borrowings of approximately $175M with a letter of credit sub-limit, and a senior secured term loan facility of approximately $515M. The proceeds of the term loan facility were used to pay the $500M dividend to the Sears Holdings subsidiary and to pay fees and expenses associated with the foregoing facilities of approximately $10M, with the remaining proceeds to be used by Lands' End for general corporate purposes.
April 4, 2014
10:04 EDTSHLDSears risk/reward negative, says ISI Group
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April 3, 2014
12:42 EDTHLFEnergy drink MLM changes practices amid scrutiny of Herbalife, NY Post says
Vemma, a multilevel marketing company that makes Verve brand energy drinks, said it is changing its business practices as the Federal Trade Commission investigates Herbalife (HLF), which has a similar business model, reported The New York Post. Monster Beverage (MNST), which like Herbalife has drawn a fair amount of scrutiny from lawmakers, markets energy drinks that compete with Vemma's. Reference Link
09:30 EDTPFEApple, Pfizer others create 'go slow' patent lobby group, Reuters says
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08:27 EDTPFELeerink's biotech analyst holds a dinner meeting update
Biotech Analyst Liang holds an update from the AACR's Annual Meeting to discuss some of the presentations including PFE/AMGN's Palbociclib, PBYI/PFE's Neratinib, as well as other new agents for breast cancer from LLY, MDVN and CLDX, in San Diego on April 7 at 9 pm.
07:48 EDTHLFChanos says 'side with the bears' on multi-level marketers
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05:50 EDTPFEStocks with implied volatility movement; OXY PFE
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