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Stock Market & Financial Investment News

News Breaks
May 1, 2012
16:58 EDTIDTI, PFE, HLF, PLXT, CHK, PFCB, SHLD, PBYOn 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 managers’ 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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May 22, 2015
09:34 EDTCHKActive equity options trading on open
Active equity options trading on open: AAPL BABA AMZN FB MU BIDU SDRL BAC INTC EXPE CHK FEYE
May 21, 2015
16:11 EDTIDTIIntegrated Device and EPC partner for new semiconductor material
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09:20 EDTCHKChesapeake resumed with a Neutral at JPMorgan
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07:37 EDTPFEPfizer replaces AbbVie as top global pharma pick at Jefferies
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May 20, 2015
12:33 EDTPBYOn The Fly: Top stock stories at midday
Stocks began the session relatively unchanged from yesterday’s close and continue to trade in a holding pattern as investors await the release of the minutes from the Federal Reserve's last FOMC meeting. ECONOMIC EVENTS: In the U.S., EIA inventory data showed a 2.67M barrel fall in crude stocks, versus expectations for a 1.75M barrel decrease. The Federal Reserve is scheduled to release the minutes from its last rate setting meeting at 2 pm EDT. In Asia, Japan's GDP accelerated to a 2.4% growth pace in the first quarter, which was much better than expected. Japanese stock markets rallied on the news, sending the Nikkei 225 average to its best level in 15 years. COMPANY NEWS: Five of the world's largest banks - Citi (C), JPMorgan Chase (JPM), Barclays (BCS), The Royal Bank of Scotland (RBS) and UBS (UBS) - agreed to pay more than $5B and plead guilty to felony charges related to manipulating foreign currencies and interest rates. In conjunction with previously announced settlements with regulatory agencies in the United States and abroad, today’s resolutions bring the total fines and penalties paid by these five banks for their conduct in the foreign exchange spot market to nearly $9B, the Department of Justice stated... Target (TGT) shares advanced 1% after the retailer's first quarter earnings topped expectations and it raised the low-end of its fiscal year profit forecast. Brian Cornell, chairman and CEO of Target, said the company was pleased with its first quarter traffic and sales, particularly in its signature categories, which drove better-than-expected profitability through improved gross margin and continued expense management. MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), which rallied 53% after the company announced that, following meetings with the FDA, it would submit its eteplirsen drug to the FDA for approval on a rolling basis, with various components of the application being submitted separately. Eteplirsen is a treatment for Duchenne muscular dystrophy, or DMD. Also higher was Pep Boys (PBY), which gained 14% after The Wall Street Journal said private equity firm Golden Gate Capital and other potential suitors have expressed interest recently in buying the company. Among the noteworthy losers was Etsy (ETSY), which operates an online marketplace to buy and sell handmade items and vintage goods. The stock, which priced its IPO at $16 and opened for trading at $31 per share, dropped 22% to trade near $16.50 after the company issued its first financial report since coming public in April. Also lower were shares of several airline stocks, led by Southwest (LUV), which was down 8% near noon. In a regulatory filing last night, Southwest indicated it expects FY15 capacity growth to increase 7%-8% and to grow another 6%-7% in FY16. Buckingham downgraded Southwest to Neutral from Buy this morning, stating it has a more cautious revenue outlook for the company due to a worsening backdrop as competitors vow to compete aggressively. INDEXES: Near midday, the Dow was down 6.10, or 0.03%, to 18,306.29, the Nasdaq was up 1.65, or 0.03%, to 5,071.69, and the S&P 500 was down 0.49, or 0.02%, to 2,127.34.
09:25 EDTPBYOn The Fly: Pre-market Movers
UP AFTER EARNINGS: American Eagle Outfitters (AEO), up 8.6%... Computer Sciences (CSC), up 4.1%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 44.5% after announcing plans for rolling eteplirsen NDA... Genocea Biosciences (GNCA), up 22.5% after GEN-003 Phase 2 trial met primary endpoint... IsoRay (ISR), up 31.7% after Cesium-131 reports 96% success in local control and 100% survival in 5 years... AVEO Pharmaceuticals (AVEO), up 15.7% after presenting results of extension study 902 and gets FDA feedback for tivozanib... Pep Boys (PBY), up 12.5% following reports that potential buyer have approached the company about a possible takeover. DOWN AFTER EARNINGS: Etsy (ETSY), down 19.5%... China Distance Education (DL), down 7.7%... Keysight Technologies (KEYS), down 5.7%.... Lowe's (LOW), down 5.2%. ALSO LOWER: Lpath (LPTN), down 75.6% after announcing that it will undergo corporate restructuring... Achillion Pharmaceuticals (ACHN), down 10.1% following collaboration for HCV with Janssen... El Pollo LoCo (LOCO), down 3.5% after 6M share Block Trade priced at $22.25... Cimarex Energy (XEC), down 3.3% after 6M share Spot Secondary priced at $109.00.
08:03 EDTPBYPep Boys June volatility elevated into reports suitors approached
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07:49 EDTSHLDCherokee partnerships add to long-term growth, says Brean Capital
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07:46 EDTPFEDeutsche Bank positive on potential Pfizer, GSK merger
Deutsche Bank analyst Gregg Gilbert believes a large foreign deal for Pfizer (PFE) may make sense and says a buyout of GlaxoSmithKline (GSK) could be "materially" accretive to earnings while improving the company's tax situation over time. Gilbert assumes a $60 per share buyout price for GlaxoSmithKline in a research note this morning titled "Introducing 'PfizerKline'". The stock closed yesterday up 2c to $44.68. Gilbert reiterates a Buy rating on Pfizer with a $41 price target. Shares ended yesterday up 23c to $34.21.
06:04 EDTPBYPotential buyers approach Pep Boys about possible takeover, WSJ reports
Pep Boys has been approached about a takeover, according to sources cited by The Wall Street Journal. The sources say Golden Gate Capital and other potential suitors have expressed interest recently in buying the company. The auto-parts and services retailer is not currently in negotiations with any of the firms and is not working with an investment bank, one source notes. Reference Link
May 19, 2015
12:16 EDTHLFFTC, states charge four cancer charities as shams
The Federal Trade Commission and 58 law enforcement partners from every state and the District of Columbia have charged four sham cancer charities and their operators with bilking more than $187M from consumers. Named in the federal court complaint are Cancer Fund of America, Cancer Support Services, Children’s Cancer Fund of America and The Breast Cancer Society. Shares of Herbalife (HLF) and Lumber Liquidators (LL) weakened intraday yesterday as speculation circulated about whether either of the companies would be the target of the FTC's announcement today.
07:31 EDTCHKUBS to hold a conference
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06:55 EDTPFEGenocea could be takeover target after data, says Piper Jaffray
Piper Jaffray analyst Edward Tenthoff expects Genocea Biosciences (GNCA) will report positive Phase II GEN-003 post-immunization results late in Q2. GEN-003 is a therapeutic vaccine for genital herpes targeting Herpes Simplex Virus Type 2. Positive GEN-003 data could position Genocea as a potential acquisition target by a larger vaccine player, Tenthoff tells investors today in a research note. Large vaccine makers include Sanofi (SNY), Merck (MRK), GlaxoSmithKline (GSK), Pfizer (PFE) and Novartis (NVS). The analyst reiterates an Overweight rating on Genocea with a $14 price target. Shares of the clinical-stage vaccine developer with a $227M market capitalization closed yesterday up 83c to $10.22.
06:40 EDTPBYGabelli adds another nominee to join board of Pep Boys
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May 18, 2015
15:16 EDTSHLDSears Holdings May weekly volatility increases into Q1 and outlook
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12:12 EDTHLFHerbalife dips after FTC says to announce 'major consumer fraud' case
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11:15 EDTCHKStocks with call strike movement; CHK RIG
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10:01 EDTCHKOn The Fly: Analyst Downgrade Summary
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06:58 EDTPFEActavis CEO says chances of Pfizer offer are 'unlikely', Financial Times says
Actavis (ACT) CEO Brent Saunders said the chances of Pfizer (PFE) making an offer are "incredibly unlikely," reports the Financial Times. Saunders said he has heard the gossip that Actavis could become a takeover target for a larger group, but he spends "zero time thinking about it." Reference Link
06:39 EDTCHKChesapeake downgraded to Neutral from Buy at Goldman
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