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Stock Market & Financial Investment News

News Breaks
December 13, 2012
16:25 EDTBBY, SAM, S, AZN, ZAGG, CLWR, RIGLOn 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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March 25, 2015
06:51 EDTZAGGZAGG downgraded to Market Perform from Outperform at Northland
Northland downgraded ZAGG to Market Perform due to valuation.
06:05 EDTBBYBest Buy implied volatility of 26 at lower end of index mean range
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March 24, 2015
10:01 EDTZAGGOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Banco Popolare (BPSAY) downgraded to Neutral from Buy at UBS... Century Aluminum (CENX) downgraded at Morgan Stanley... Global Power Equipment (GLPW) downgraded to Market Perform at William Blair... Ivanhoe Mines (IVPAF) downgraded to Equal Weight from Overweight at Morgan Stanley... JD Wetherspoon (JDWPY) downgraded to Hold from Buy at Jefferies... MEI Pharma (MEIP) downgraded to Market Perform from Outperform at Wells Fargo... NICE Systems (NICE) downgraded to Market Perform from Outperform at JMP Securities... Progressive (PGR) downgraded to Neutral from Buy at Goldman... Tim Participacoes (TSU) downgraded to Reduce from Overweight at HSBC... ZAGG (ZAGG) downgraded at Craig-Hallum.
09:21 EDTZAGGZAGG downgraded at Craig-Hallum
As previously reported, Craig-Hallum initiated ZAGG to Hold from Buy. The firm downgraded shares due to valuation.
08:57 EDTZAGGZAGG downgraded to Hold from Buy at Craig-Hallum
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08:52 EDTSSprint CEO may make 'unfortunate misstep,' says FBR Capital
FBR Capital says its vendor checks indicate new Sprint CEO Marcello Claure has undertaken a strategic review of the company's competitive positioning. The firm believes Truco, the strategic advisory group brought in by Claure, is advocating a "premature network rip and replace program." FBR says this approach of converting Sprint's 1.9GHZ spectrum to uplink would be an "unfortunate misstep and a missed opportunity to embrace the technology shift underway." The firm sees risk of Sprint under-investing and weakening its franchise value further. It has a Market Perform rating on the name.
07:27 EDTBBYTelsey Advisory to hold a conference
2015 Consumer Conference is being held in New York on March 24-25.
March 23, 2015
09:45 EDTAZNUBS to hold a field trip
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09:06 EDTAZNInsmed appoints Eugene Sullivan as Chief Medical and Scientific Officer
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09:03 EDTAZNLeerink analysts hold a meeting with a conference call hookup
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07:36 EDTAZNPfizer should rise 'significantly' over next two years, says Jefferies
Jefferies analyst Jeffrey Holford told investors this morning that he expects shares of Pfizer (PFE) to appreciate "significantly" over the next two years. A survey of U.S. oncologists indicated the company's Ibrance drug will be used in 50% of first line hormonal therapy within one year, with off-label use in all lines of therapy including adjuvant, Holford noted. He thinks peak sales of the drug could top $13B, which is well above consensus. In addition, the analyst views Pfizer's Global Established Pharmaceutical business as being underappreciated by the market. Potential value creating options for the pharmaceutical giant include spinning off its GEP unit by 2017 and accretive acquisitions, with possible takeover targets being Shire (SHPG), Actavis (ACT), AstraZeneca (AZN) and GlaxoSmithKline (GSK), in the eyes of Holford. He added the stock to the firm's Franchise Picks list, which encompasses its best ideas. He also raised his price target for Pfizer to $45 from $42. The stock closed Friday up 10c to $34.25.
07:13 EDTSRadioShack bankruptcy auction to begin Monday, WSJ says
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March 20, 2015
07:55 EDTAZNAstraZeneca seen as potential target again if oncology drugs lag, Bloomberg says
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March 19, 2015
08:37 EDTAZNNektar and Daiichi Sankyo to commercialize Movantik in the U.S.
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March 18, 2015
13:59 EDTST-Mobile announces 'Un-contract,' 'Carrier Freedom' initiatives
Today, during an event held to announce Un-carrier 9.0 − Un-carrier for Business − T-Mobile (TMUS) unveiled two new major Un-carrier initiatives for consumers. First, with T-Mobile’s new "Un-contract," customers will now have more certainty in their wireless pricing than ever before. Consumers and businesses with the Simple Choice rate plan will find that rates won’t go up as long as they’re a T-Mobile customer and keep their plan − and even customers with unlimited 4G LTE will lock in their rates for a minimum of two years. The Un-carrier also launched "Carrier Freedom," a new move where T-Mobile will now cover all outstanding phone and tablet payments up to $650 per line when customers from AT&T (T), Verizon (VZ) or Sprint (S) switch to T-Mobile.
March 17, 2015
14:10 EDTAZNIGI Laboratories recent sell-off a buying opportunity, says Craig-Hallum
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10:59 EDTBBYBest Buy calls active on activist investor speculation
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10:54 EDTBBYRumor: Best Buy moves up on activist investor speculation
Shares of Best Buy are moving higher amid speculation Carl Icahn may have acquired a stake in the company.
09:05 EDTBBYMicrosoft Band now available at Best Buy, Target, Amazon, Re/code reports
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March 16, 2015
07:30 EDTAZNAmerican College of Cardiology to hold an expo
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