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Stock Market & Financial Investment News

News Breaks
December 13, 2012
16:25 EDTCLWR, S, BBY, ZAGG, SAM, RIGL, AZNOn The Fly: Closing Wrap
Stocks on Wall Street finished lower but off their worst levels amid more political gamesmanship over the fiscal cliff. Both House Speaker John Boehner and Senate Majority Leader Harry Reid made comments regarding the increasing gridlock in negotiations, sending the averages lower just before midday. The averages touched their lows around 2:00 pm, but rallied in the last half hour of trading after reports that the President would meet with Speaker Boehner this evening for further cliff talks... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell 29,000 to 343,000, versus expectations for a drop to 369,000. Producer prices in the month of November fell 0.8%, versus an expected decline of 0.5%. "Core" prices, excluding food and energy, rose 0.1%, which matched expectations. Retail sales rose 0.3% in November, which missed expectations for an increase of 0.5%. In Europe, the region's finance ministers approved the release of more financial aid to Greece and came to terms on a foundation for ECB oversight of a true banking union... COMPANY NEWS: Shares of Clearwire (CLWR) rose 41c, or 14.91%, to $3.16 after Sprint (S) disclosed an offer to buy the remaining stake in the company it does not already own for $2.90 per share. Clearwire said that its talks with Sprint are ongoing. Meanwhile, Sprint shares slipped fractionally, down 2c, or 0.35%, to $5.64... MAJOR MOVERS: Among the notable gainers was Best Buy (BBY), up $1.94, or 15.93%, to $14.12 after the Star Tribune said the company's founder Richard Schulz will soon make an offer for the company. Also higher were ZAGG (ZAGG), up 73c, or 10.27%, to $7.84 after the company announced a $10M share repurchase program, and Boston Beer (SAM), up $17.71, or 15.50%, to $131.94 after raising its FY12 EPS guidance. Among the noteworthy losers was Rigel Pharmaceuticals (RIGL), which fell $2.94, or 34.88%, to $5.49 after an RA drug it is developing in partnership with AstraZeneca (AZN) failed to meet one of its endpoints in a trial. Shares of AstraZeneca also traded down $1.44, or 2.94%, to $47.46... INDICES: The Dow was down 74.73, or 0.56%, to 13,170.72; the Nasdaq was down 21.65, or 0.72%, to 2,992.16; and the S&P 500 was 9.03, or 0.63%, to 1,419.45.
News For CLWR;S;BBY;ZAGG;SAM;RIGL;AZN From The Last 14 Days
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July 21, 2014
07:45 EDTSSprint consensus estimates 'overly optimistic,' says Jefferies
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July 20, 2014
14:47 EDTSAfter paring Mexican assets Carlos Slim may look at T-Mobile, WSJ says
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July 18, 2014
09:18 EDTSSoftbank hire of Arora from Google 'interesting,' says Wells Fargo
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07:08 EDTSSoftbank, T-Mobile final agreement could come after late August, Kyodo News says
According to Kyodo News, Softbank's (SFTBF) buyout talks with T-Mobile (TMUS) won't be settled until after late August. Deutsche Telecom (DTEGY) is "reluctant" to accept Softbank's business plan and is seeking a new plan, industry sources say. Reference Link
July 16, 2014
12:22 EDTBBYBest Buy calls active on speculation of an activist investor stake
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10:36 EDTAZNTreasury calls on Congress to halt inversion deals
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10:24 EDTBBYRumor: Best Buy moves up on speculation of an activist investor stake
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08:01 EDTAZNAlexion names former AstraZeneca CEO David Brennan to board
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07:59 EDTAZNTreasury Secretary urges Congress to take action on tax inversions
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07:31 EDTRIGLRigel Pharmaceuticals initiates Phase 3 studies of fostamatinib in ITP
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July 15, 2014
15:32 EDTSPaulson sees T-Mobile takeover in high $30s, low $40s 'reasonable,' WSJ says
John Paulson, the fourth-largest shareholder in T-Mobile (TMUS) and the third largest stakeholder in Sprint (S), would support a merger of the two, which has been widely reported as being worked on, and said that a takeover price for T-Mobile in the "high $30s to low $40s" per share would be "reasonable," according to The Wall Street Journal, citing an interview with the investor. Reference Link
13:44 EDTSSprint, T-Mobile jointly raising $10B for airwave auction, WSJ says
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July 14, 2014
18:00 EDTSSprint plans for lengthy review of T-Mobile deal, Bloomberg reports
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17:44 EDTSSprint said to plan for lengthy review of T-Mobile deal, Bloomberg says
Sprint and T-Mobile reportedly planning 18-month drop-dead period for the deal, and Sprint lenders are looking for higher fees to commit longer term. Sprint and T-Mobile also considering a JV to bid for wireless spectrum, Bloomberg added.
July 11, 2014
16:22 EDTSOn The Fly: Closing Wrap
Stocks on Wall Street were higher today, but were still lower for the week, as concerns in Europe have come back to the forefront of investors' minds. Today's modest bounce was not enough to make up for the declines seen in three of the other four sessions earlier in the week. ECONOMIC EVENTS: In the U.S., the June federal budget statement showed a surplus of $70.5B for the month, compared to analysts' forecast for a $79B surplus. COMPANY NEWS: Shares of Wells Fargo (WFC) slipped 32c, or 0.62%, to $51.49 after the largest mortgage lender in the U.S. posted earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard (LO) advanced $2.92, or 4.63%, to $66.01, while Reynolds American fell 51c, or 0.82%, to $61.75, after the two cigarette makers confirmed that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks... In another update to an ongoing M&A story, Japan's Nikkei reported that Sprint's (S) corporate parent, Softbank (SFTBF), has reached an agreement to acquire T-Mobile (TMUS) from Deutsche Telecom (DTEGY), clearing the way for the long-speculated merger between the third and fourth largest wireless carriers in the U.S. Following the new story, Sprint shares finished the day up 30c, or 3.64%, to $8.55, while T-Mobile rose 62c, or 1.89%, to $33.50. MAJOR MOVERS: Among the notable gainers was Ruckus Wireless (RKUS), which advanced 87c, or 7.9%, to $11.88 after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Also higher was Amazon.com (AMZN), which climbed $18.28, or 5.57%, to $346.20 after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Among the noteworthy losers was Rent-A-Center (RCII), which dropped $3.18, or 10.94%, to $25.88 after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower were shares of industrial and construction supply retailer Fastenal (FAST), which fell $2.00, or 4.16%, to $46.15 after its Q2 revenue missed analysts' consensus view and the company reported plans to close 45 stores. INDEXES: The Dow was up 28.74, or 0.17%, to 16,943.81, the Nasdaq was up 19.29, or 0.44%, to 4,415.49, and the S&P 500 was up 2.83, or 0.14%, to 1,967.51.
13:10 EDTSSprint, T-Mobile rally following merger report from Nikkei
13:09 EDTSSoftbank near deal to buy T-Mobile, merge with Sprint, Nikkei reports
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13:05 EDTSSoftbank near deal to buy T-Mobile, merge with Sprint, Nikkei reports
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06:16 EDTBBYBest Buy price target raised to $36 from $31 at Citigroup
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July 9, 2014
09:11 EDTZAGGZAGG announces distribution agreement with InMotion Entertainment
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