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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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August 18, 2014
18:04 EDTSSprint to offer $100/month 20GB shared data plan through 2015, Bloomberg reports
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11:06 EDTSSoftBank chooses Sharp as low-cost smartphone partner, WSJ reports
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08:47 EDTSRaymond James to hold a summit
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07:57 EDTAZNCambridge Healthtech Institute to hold a summit
6th Annual Bioprocessing Summit to be held in Boston on August 18-22.
August 15, 2014
06:15 EDTSSprint's new CEO to introduce 'disruptive' prices next week, Re/code reports
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August 14, 2014
14:13 EDTSOmega Advisors gives quarterly update on stakes
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12:01 EDTAZNThird Point gives quarterly update on stakes
NEW STAKES: Rackspace (RAX), Finisar (FNSR), Amgen (AMGN), Ally Financial (ALLY), and AstraZeneca (AZN). INCREASED STAKES: Dollar General (DG) and Dow Chemical (DOW). DECREASED STAKES: FedEx (FDX), Hertz (HTZ), T-Mobile (TMUS) and Intrexon (XON). LIQUIDATED STAKES: Google Class A (GOOGL), Verizon (VZ) and Mondelez (MDLZ).
09:07 EDTSMorgan Stanley to hold a conference
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August 13, 2014
09:15 EDTRIGLOn The Fly: Pre-market Movers
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08:31 EDTAZNAstraZeneca says Phase 3 trials of lesinurad for gout met primary endpoints
AstraZeneca announced top-line results from CLEAR1, CLEAR2 and CRYSTAL, the pivotal Phase III clinical trials investigating the potential of lesinurad, a selective uric acid re-absorption inhibitor, as a combination therapy for the treatment of patients with symptomatic gout. Lesinurad is an investigational agent that inhibits the URAT1 transporter, increasing uric acid excretion and thereby lowering serum uric acid. In the CLEAR1 and CLEAR2 trials, both lesinurad 200mg and 400mg in combination with allopurinol met the primary endpoint, with a statistically significant higher proportion of patients reaching the target sUA goal of <6.0mg/dL at month 6 compared to allopurinol alone. In the CRYSTAL trial, lesinurad 400mg in combination with febuxostat met the primary endpoint, with a statistically significant higher proportion of patients reaching the target sUA goal of <5.0mg/dL at month 6 compared to febuxostat alone. Although lesinurad 200mg did not achieve statistical significance at month 6, this dose in combination with febuxostat, was superior to placebo plus febuxostat at all other time points. Results from these Phase III clinical trials will be submitted to a scientific meeting later in 2014. The company is proceeding with preparation of regulatory submissions for lesinurad 200mg combination therapy.
07:31 EDTRIGLRigel Pharmaceuticals announced R348 did not meet endpoints in Phase 2 study
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August 12, 2014
17:26 EDTSDish viewed as favored T-Mobile acquirer after Sprint drops bid, Bloomberg says
Dish Network (DISH) is viewed as a favorite to acquire T-Mobile (TMUS) after Sprint (S) dropped its plans to acquire the company last week, according to Bloomberg, citing analysts at Moody's Investors Service and Macquarie Group. Being an industry outsider, Dish wouldn't reduce the number of competitors in the wireless market, which would please regulators, Bloomberg added. Reference Link
08:03 EDTBBYGoldman's Retail selections for Q2
Goldman is most above Q2 consensus for Advance Auto Parts (AAP), Best Buy (BBY) and Williams-Sonoma (WSM), sees best risk/reward in Ulta Salon (ULTA) and Sportsman's Warehouse (SPWH), and low visibility in Dick's Sporting (DKS) and Wal-Mart (WMT).
05:58 EDTAZNStocks with implied volatility movement; P AZN
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August 11, 2014
18:05 EDTSSprint CEO to utilize price cuts to 'compete aggressively', Bloomberg reports
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06:01 EDTSStocks with implied volatility movement; S APC
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August 8, 2014
17:10 EDTSMarket finishes week up slightly as earnings offset by political events
Stocks finished the week fractionally higher than where they started as strong corporate earnings reports and better than expected economic data was weighed against concerns about geopolitical issues and negative M&A news. MACRO NEWS: A few ongoing geopolitical conflicts worried investors and weighed on shares. Russia unveiled sanctions against Western countries, banning the import of a wide range of food items from the U.S, the EU and a few allied countries in response to sanctions recently enacted against it from G7 nations... President Obama authorized the bombing of rebels in Iraq and Hamas and Israel failed to reach a permanent truce... An ISM services index, the U.S. trade deficit for June, and weekly jobless claims were all better than expected. Meanwhile, the increase in unit labor costs last quarter came in below the consensus outlook, perhaps easing fears that the Fed will need to raise interest rates sooner than expected. COMPANY NEWS: On the M&A front, two huge potential deals fell through as 21st Century Fox (FOX, FOXA) withdrew its offer to acquire Time Warner (TWX) and Sprint (S) reportedly decided to end its pursuit of a merger with peer T-Mobile (TMUS)... President Obama indicated that his administration would take unilateral steps in an effort to prevent companies from carrying out tax inversion acquisitions. Among the deals or possible transactions that involve inversion are Medtronic's (MDT) acquisition of Covidien (COV), Valeant's (VRX) proposed takeover of Allergan (AGN) and Mylan's (MYL) acquisition of Abbott's (ABT) developed markets branded generics pharmaceuticals business. Meanwhile, Walgreen's (WAG) stock tumbled after the U.S. company said it would not structure its takeover of European drugstore chain Alliance Boots as a tax inversion deal... 21st Century Fox, 3D printer maker Stratasys (SSYS), chip maker NVIDIA (NVDA), brewer Molson Coors (TAP), and luxury accessories maker Coach (COH) all rose following their earnings reports. Conversely, Target (TGT), luxury accessories maker Michael Kors (KORS) and Internet coupon provider Groupon (GRPN) fell following their results or guidance... Gannett (GCI) struck a deal to acquire the remaining 73% interest in Classified Ventures, whose primary asset is the online car shopping website Cars.com, for $1.8B from the other partners in the venture, which include McClatchy (MNI), Tribune Media (TRBAA), Graham Holdings (GHC) and A. H. Belo (AHC). Gannett also announced plans to spin-off its Publishing business, which includes USA Today, through a tax-free distribution to shareholders... McDonald's (MCD) stock was little changed after the company reported that its comparable store sales fell 2.5% in July, which was significantly worse than expected. Food quality issues weighed on the fast food company's sales in Asia and as a result of the China supplier issue, the company warned its previously issued global comparable sales forecast for 2014 is now at risk. INDEXES: The Dow finished the week up 0.35% to 16,553.93, the S&P 500 rose 0.32% to 1,931.59, and the Nasdaq gained 0.41% to 4,370.90.
11:32 EDTSSprint is preparing to engage in fierce pricing war, WSJ reports
Sprint (S) is preparing to engage in a fierce price competition on the heels of an almost complete network revamp, according to the Wall Street Journal, citing Masayoshi Son, the CEO of parent company Softbank (SFTBY). Sprint is currently testing new pricing plans, and will utilize its "street fighter" strategies to take on larger rivals Verizon (VZ) and AT&T (T). "Price competition will intensify. Sprint will soon be ready to join the fray," Son said. Reference Link
11:32 EDTSStocks with call strike movement; WETF S
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06:08 EDTST-Mobile plans to overtake Sprint in total customers by end of year, CEO says
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