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Stock Market & Financial Investment News

News Breaks
May 1, 2012
16:58 EDTCHK, PFE, SHLD, PLXT, IDTI, PFCB, HLF, 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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August 25, 2014
06:19 EDTPFCBU.S. DHS warns of 'Backoff' malware, WSJ reports
The Department of Homeland Security is urging all companies to check for a "Backoff" malware infection, which targets cash registers, and said over 1,000 businesses in the U.S. have been affected by the cyberattack, the Wall Street Journal reports. The DHS said Friday that the malware has likely infected many victims who "aren't aware" that they have been compromised. Reference Link
August 24, 2014
19:08 EDTSHLDInvestors should stay away from Sears, Barron's says
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August 22, 2014
14:28 EDTHLFHerbalife off earlier lows, levels to watch
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14:19 EDTPFEViiV Healthcare receives FDA approval for HIV-1 treatment Triumeq
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13:45 EDTHLFAckman likely pressed bearish options bet on Herbalife, CNBC reports
Bill Ackman of Pershing Square likely pressed his bearish options bet on Herbalife, based on options trading activity, CNBC's Scott Wapner reports.
07:09 EDTSHLDSears looking to shore up balance sheet, WSJ reports
Sears CFO Robert Schriesheim says the struggling retailer is looking to take steps to shore up its balance sheet over the next six to 12 months, the Wall Street Journal reports. The executive says Sears will work with its lenders to evaluate its capital structure, and may look to refinance some debt, including its revolving credit facility. Reference Link
August 21, 2014
17:00 EDTSHLDOn The Fly: Closing Wrap
Stocks began the session in lackluster fashion as the averages opened just above yesterday’s close. There was little early reaction to the morning’s economic reports including the jobless claims data, Philadelphia Fed report, leading economic indicators, and natural gas storage change report. But by mid-day, the Dow had asserted itself as the day’s leader while the Nasdaq struggled to stain positive territory. As the afternoon progressed the Dow continued its advance, the Nasdaq hit 14-year highs, and the S&P also touched a new all-time high. ECONOMIC EVENTS: Jobless Claims data continues to trend lower, with the week of August 16 coming in at 298K vs. a consensus of 300K... The PMI Manufacturing Index Flash was strong at 58.0 for August, up 1.7 points from the July flash of 56.3. COMPANY NEWS: eBay (EBAY) rose almost 5% after a report said that a PayPal spin-off was under consideration... Hormel (HRL) gained almost 5% and hit a 52-week high after reporting better than expected earnings before the market opened... Sears Holding (SHLD) fell over 7% after reporting Q2 earnings this morning that missed on the top and bottom lines. INDEXES: The Dow closed up 60.36, or 0.36%, to 17,039.49, the Nasdaq closed up 5.62, or 0.12%, to 4,532.10, and the S&P 500 closed up 5.86, or 0.29%%, to 1,992.37.
13:32 EDTPFEBristol-Myers, Pfizer announce approval of Eliquis for treatment of DVT, PE
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13:00 EDTSHLDOn The Fly: Midday Wrap
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10:35 EDTSHLDSears falls after reporting Q2 loss that more than doubled analyst projections
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09:54 EDTPFEPotential Pfizer, AstraZeneca deal seen around year-end, Reuters says
Investors and analysts see Pfizer (PFE) making another attempt to acquire AstraZeneca (AZN) around year-end, even though talks between the two can resume on August 26 per British takeover rules, Reuters reports. Reference Link
09:50 EDTSHLDSears falls after earnings, levels to watch
The stock is down 4.7% to $34.24 at time of writing following a much wider than expected loss for the company's Q2. At current price support is at the session low at $33.51 and then at $32.62. Resistance is at $35.16.
09:37 EDTSHLDActive equity options trading on open
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09:07 EDTSHLDOn The Fly: Pre-market Movers
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08:02 EDTPFEPfizer initiates U.S. EAP for palbociclib.
Pfizer announced that the company has initiated a multi-center, open-label expanded access program in the U.S. for palbociclib. Through the program, palbociclib is being made available for use in combination with letrozole for post-menopausal women with hormone receptor positive human epidermal growth factor receptor 2 negative advanced breast cancer for whom letrozole is considered appropriate therapy.
07:55 EDTPFEActavis volatility expected to move on Pfizer considering new target report
Actavis (ACT) volatility is expected to move on Pfizer (PFE) considering other overseas alternatives, Bloomberg reports. Overall option implied volatility of 27 is near its 26-week average of 31 according to Track Data, suggesting decreasing price movement.
07:47 EDTPFEPfizer looking at new targets, including Actavis, Bloomberg reports
While it weighs another attempt to acquire AstraZeneca (AZN), Pfizer is considering other overseas alternatives, including Actavis (ACT), Bloomberg reports, citing people familiar with the matter. Pfizer prefers to reach a deal with AstraZeneca, and a move on another company is unlikely "anytime soon," Bloomberg adds, citing its sources. Shares of Actavis are rising 3%, or $6.65, to $230.01 in pre-market trading, while AstraZeneca is up 2% to $72.59. Reference Link
06:04 EDTSHLDSears reports Q2 EPS ($5.39), consensus ($2.63)
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August 20, 2014
15:17 EDTSHLDSears Holdings August weekly 36.5 straddle priced for 8.5% move into Q2
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08:03 EDTPFEBristol-Myers Pfizer to present new Eliquis data
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