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Stock Market & Financial Investment News

News Breaks
March 27, 2013
09:28 EDTCLF, LNN, UTSI, LNDC, SAI, APOL, LOGM, MFRMOn The Fly: Pre-market Movers
HIGHER: UTStarcom (UTSI), up 25% after Shah Capital offers to buy company for $3.20 per share in cash... UP AFTER EARNINGS: Mattress Firm (MFRM), up 5.3%... SAIC (SAI), up 3.7%... Lindsay (LNN), up 2.9%... LOWER: Cliffs Natural (CLF), down 13.4% after downgrade to Underweight at Morgan Stanley, Credit Suisse lowering price target to $10 from $30... LogMeln (LOGM), down 5.5%, after having gained nearly 20% yesterday following favorable patent ruling... Apollo Group (APOL), down 3.1%, following downgrade at Wells Fargo.
News For CLF;APOL;UTSI;MFRM;SAI;LNN;LOGM;LNDC From The Last 14 Days
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January 23, 2015
07:02 EDTLNNLindsay Corp. comples acquisition of Elecsys
Lindsay Corporation (LNN) announced the completion of its acquisition of Elecsys Corporation (ESYS), a provider of machine-to-machine technology solutions and custom electronic systems. Elecsys shareholders will receive $17.50 per share in cash for each share of common stock they owned as of the effective time of the merger, without interest and less any applicable withholding taxes. The agreement was announced on November 4, 2014 and approved at a special meeting of Elecsys stockholders held on January 22, 2015 by over 99% of shares voted. Headquartered in Olathe, KS, Elecsys will continue to be operated by its current management team. As a result of the merger, the common stock of Elecsys will no longer be listed for trading on the NASDAQ exchange as of January 23.
January 20, 2015
14:06 EDTCLFCitizens, Keysight identified as long positions by Einhorn
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13:24 EDTCLFGreenlight has new long positions in Citizens, Time Warner, Bloomberg says
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January 16, 2015
13:25 EDTAPOLManning & Napier Advisors reports 6.44% passive stake in Apollo Education
12:29 EDTMFRMMattress Firm management to meet with William Blair
Meeting to be held in Las Vegas on January 20 hosted by William Blair.
11:36 EDTCLFCliffs Natural volatility elevated on wide price movement
Cliffs Natural January weekly call option implied volatility is at 96. January is at 98, March is at 88, compared to its 26-week average of 79 according to Track Data, suggesting large price movement.
January 15, 2015
16:20 EDTCLFOn The Fly: Closing Wrap
Stocks on Wall Street had a see-saw trading day, with every attempt at getting the averages into positive territory being met with more selling. The market spent most of the day in negative territory, however, as the latest bank earnings reports failed to impress investors, the price of oil renewed its downtrend, and the Swiss National bank withdrew its floor support on the Swiss franc. ECONOMIC EVENTS: Internationally, Switzerland's central bank unexpectedly gave up its minimum exchange rate, sending the Swiss franc soaring against the dollar and euro and triggering wild swings in its equity markets. In the U.S., initial jobless claims rose 19K to 316K in the week ended January 10, versus expectations for 298K first-time claims. The producer price index fell 0.3% in December, versus expectations for a decrease of 0.4%. The core PPI rate rose 0.3% in the month, versus expectations for it to be up 0.1%. The Empire State index rebounded to 9.95 in January, beating expectations for a 5.0 reading for the measure of manufacturing activity in the New York area. The Philly Fed index fell 18.0 points to 6.3 in January, which was worse than the projected pullback to a reading of 18.7. WTI crude oil, the U.S. benchmark, reversed its early gains to end the trading session down 4.6% at $46.25 per barrel. COMPANY NEWS: Shares of Target (TGT) advanced $1.34, or 1.8%, to $75.67 after the retailer announced plans to stop operating stores in Canada. Target expects this decision will increase its earnings in fiscal 2015 and beyond, and increase its cash flow in fiscal 2016 and beyond. The company also raised its forecasts for Q4 U.S. comparable sales growth and adjusted earnings per share, mostly due to increased traffic and stronger-than-expected digital sales... Bank of America (BAC) slid 84c, or 5.24%, to $15.20 after reporting its fourth quarter results, while Citigroup (C), which also issued its Q4 report, dropped $1.82, or 3.71%, to $47.23. MAJOR MOVERS: Among the notable gainers was Cliffs Natural Resources (CLF), which rose 93c, or 11.94%, to $8.72 amid strength in the basic materials sector. Also benefitting the stock may have been a Bloomberg report that said an adviser to Quebec's investment arm stated that Cliffs' closed down Bloom Lake mine has attracted interest from several potential buyers. Also higher were shares of Kraft Foods (KRFT), which climbed $2.92, or 4.66%, to $65.68 after Goldman Sachs upgraded the stock to Buy and placed the shares on its Conviction List. Also of note, the Consumer Analyst Group of New York confirmed to Bloomberg that the food and beverage manufacturer canceled its upcoming conference appearance. Among the noteworthy losers was Best Buy (BBY), which dropped $5.61, or 14.06%, to $34.30 after reporting holiday growth that was lower than previous quarters, citing factors including weakness in tablets, and guiding toward comparable sales in the first half of FY16, excluding certain items, to be flat to down by a low-single digit percentage. Also lower were shares of BlackBerry (BBRY), which declined $2.49, or 19.77%, to $10.10 after the company said last night that it is not in talks with Samsung (SSNLF) about a potential merger, rebutting a Reuters report. INDEXES: The Dow fell 106.38, or 0.61%, to 17,320.71, the Nasdaq dropped 68.50, or 1.48%, to 4,570.82, and the S&P 500 declined 18.60, or 0.92%, to 1,992.67.
16:01 EDTCLFOptions Update; January 15, 2015
iPath S&P 500 VIX Short-Term Futures up 1.01 to 36.13. Option volume leaders: AAPL TSLA TWTR AMZN FB C CLF ABX SUNE according to Track Data.
15:57 EDTCLFCliffs Natural said to have multiple suitors for mine, Bloomberg reports
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15:32 EDTCLFCliffs Natural said to have multiple suitors for Bloom Lake, Bloomberg reports
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14:45 EDTAPOLFor-profit education names slip after Wells says search data negative
Shares of a number of for-profit education companies are falling after Wells Fargo wrote that Google search trends do not bode well for the sector. WHAT'S NEW: Google search trends for the fourth quarter indicate that students' interest in for-profit education companies probably did not increase significantly during that period, Wells Fargo analyst Trace Urdan wrote in a note to investors today. The data indicates that new student enrollment at the schools could even come in below already pessimistic expectations, Urdan reported. The analyst found that searches for terms related to for-profit schools dropped in Q4, versus the same period a year earlier. Moreover, there were many more searches in Q4 for non-profit schools than for-profit colleges, Urdan stated. Sentiment towards for-profit education names is already "quite weak" after President Obama on January 9 proposed allowing all Americans to attend community college at no cost and Apollo Education (APOL) on January 8 provided lower than expected Q2 revenue guidance, Urdan stated. As a result, investors may already be expecting schools in the sector to report weak enrollment data, Urdan believes. However, the search data for Strayer (STRA) is "more negative than positive," even though expectations for the company appear to be elevated, the analyst reported. On a positive note, search results for Capella Education (CPLA), Grand Canyon (LOPE), and DeVry's (DV) Chamberlain looked better than average, Urdan reported, adding that investors' expectations towards those names are relatively upbeat. PRICE ACTION: In mid-afternoon trading, Strayer fell 1% to $68, ITT Educational fell 3.6% to $8.37, Bridgepoint Educational (BPI) tumbled 4.5% to $10.10, American Public (APEI) slid 2.25% to $33.89, and Grand Canyon gave back 2% to $43.
January 14, 2015
10:21 EDTAPOLOptions with decreasing implied volatility
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January 13, 2015
15:27 EDTLNNRoyce & Associates reports 6.82% passive stake in Lindsay Corp.
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11:31 EDTCLFBofA/Merrill metals & steel analysts hold analyst/industry conference call
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10:32 EDTCLFStocks with call strike movement; CLF FEYE
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10:17 EDTAPOLOptions with decreasing implied volatility
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January 12, 2015
10:15 EDTAPOLOptions with decreasing implied volatility
Options with decreasing implied volatility: NBIX APOL NPSP BBBY INFY JCP MU TIF
09:26 EDTMFRMUBS events at 17th Annual ICR XChange Conference
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07:32 EDTLNDCSidodi to hold a forum
Emerging Growth Institutional Investor Forum is being held in New York on January 12.
07:26 EDTMFRMWedbush to hold a meetings at ICR XChange Conference
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