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Stock Market & Financial Investment News

News Breaks
January 9, 2013
12:37 EDTCLWR, S, DISH, HLF, NUVA, GPN, APOL, HAOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after Alcoa (AA) unofficially kicked off the earnings season last night by matching analysts' earnings estimates and topping revenue expectations. Alcoa's report may be lending a sense of optimism that companies may be able to exceed the lowered expectations for the earnings season now getting underway. The market's bounce from its recent run of lower closes may not be long lived if lawmakers do not make progress, as highlighted again in a Washington Post report that said the U.S. may reach the current limit on the debt ceiling as soon as February 15, about two weeks earlier than previously expected... ECONOMIC EVENTS: In the U.S., the EIA's weekly petroleum status update showed that inventories of crude oil built up but by fewer barrels than expected, while gasoline and distillates built up by more than expected. In Europe, industrial output in Germany grew slightly in November but fell short of expectations, as the 0.2% adjusted monthly rise missed expectations for a 1.0% increase... COMPANY NEWS: Shares of Clearwire (CLWR) rose nearly 8% to $3.15 after the company got an unsolicited $3.30 per share buyout bid from Dish Network (DISH). The offer sets up a potential takeover battle with Sprint (S), which already owns a majority stake in Clearwire and has a deal in place to acquire the remaining interest... Another potential Wall Street showdown made headlines, related to two prominent hedge fund managers and their conflicting positions on Herbalife (HFL). Shares of Herbalife spiked higher and were up almost 5% near noon, after hedge fund Third Point, managed by Dan Loeb, disclosed an 8.24% passive stake. The holding puts Loeb in opposition with Bill Ackman of Pershing Square, who has a large and well publicized short position in the company... MAJOR MOVERS: Among the notable gainers was NuVasive (NUVA), which rose nearly 12% after reporting preliminary revenue that beat expectations and having its stock upgraded to Sector Perform at RBC Capital. Also higher were shares of Global Payments (GPN), up about 6% after JPMorgan upgraded the stock and RBC Capital raised its price target on shares following the company's report and increased guidance. Among the noteworthy losers was Apollo Group (APOL), which fell 9% following more than one downgrade of the stock after its Q1 report. Also lower were shares of Hawaiian Holdings (HA), which slid over 6% following a two notch downgrade to Underperform from Buy at Bank of America Merrill Lynch... INDICES: Near noon, the Dow was up 80.63, or 0.60%, to 13,409.48; the Nasdaq was up 14.66, or 0.47%, to 3,106.47; and the S&P 500 was up 4.86, or 0.33%, to 1,462.01.
News For CLWR;S;DISH;HLF;NUVA;GPN;APOL;HA From The Last 14 Days
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August 25, 2014
11:06 EDTDISHDISH evaluating bid for T-Mobile, says dealReporter citing sources
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07:23 EDTAPOLGovernment not looking to push other colleges out of business, says Wells Fargo
In the wake of Corinthian Colleges' (COCO) dissolution due to actions taken by the Department of Education, Wells Fargo thinks the government did not intend for this scenario to unfold. After speaking with unnamed "knowledgeable sources" about the issue, the firm does not expect the department to take similar actions in the future because doing so would create too much of a workload for the department, Wells believes. Publicly traded companies in the space include American Public Education (APEI), Apollo Education (APOL), Bridgepoint Education (BPI), Career Education (CECO), Corinthian Colleges (COCO), DeVry (DV), Grand Canyon (LOPE), ITT Educational (ESI) and Strayer (STRA).
07:04 EDTSSprint price target lowered to $7 from $8 at RBC Capital
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August 24, 2014
21:54 EDTNUVAPiper Jaffray to hold a bus tour
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August 22, 2014
14:28 EDTHLFHerbalife off earlier lows, levels to watch
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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.
07:06 EDTDISHDISH CFO Robert Olson to retire on October 15
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05:28 EDTDISH, SSoftbank capital raise could be used for acquisitions, Bloomberg says
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August 21, 2014
13:57 EDTSSprint now has 'best value in data,' says Wells Fargo
Wells Fargo believes Sprint's new $60 per month unlimited data plan plays to the company's "abundance of capacity with its spectrum pipe." Wells says Sprint is "now the best value in data," and it notes the total amount of revenue will likely be higher than $80 per month as the plan is valid on devices purchased via Sprint Easy Pay. Wells has an Outperform rating on Sprint.
13:16 EDTST-Mobile offers free data to users who recruit new customers to its network
T-Mobile (TMUS) is offering its current Simple Choice customers a free unlimited LTE data plan upgrade for a full year when they recruit a Sprint (S), Verizon (VZ), or AT&T (T) customer to its network. The new referred customer will also receive a full year of unlimited LTE data for free as well. If a Simple Choice customer who recruits a new user to T-Mobile's network already has an unlimited LTE data plan, they will receive a $10 credit each month for twelve months. The referral plan starts August 29. Reference Link
11:49 EDTSSprint announces $60 per month unlimited wireless plan
Sprint (S) announces an unlimited wireless plan for $60. The plan provides consumers unlimited talk, text and data while on Sprint's network for $60 per month, a $20 savings compared to T-Mobile's (TMUS) $80 per month unlimited plan, the wireless carrier said. The Sprint $60 Unlimited Plan is available to both new and existing Sprint customers starting tomorrow, August 22. To qualify for the plan, customers must purchase their device through Sprint Easy Pay, pay full retail price or bring their own compatible device.
August 19, 2014
15:12 EDTAPOLApollo Education management to meet with Piper Jaffray
Meeting to be held in Los Angeles on August 21 hosted by Piper Jaffray.
12:42 EDTSOn The Fly: Midday Wrap
The market opened higher as it extended its gains from yesterday. Better than expected economic data on housing and consumer prices, as well as easing geopolitical tensions, has helped aid investor optimism. The market drifted higher throughout the morning with the Dow leading the way, followed by the Nasdaq, which is now near fourteen-year highs. The S&P is mostly higher, with the telecom services group being the lone sector showing losses, down just fractionally. ECONOMIC EVENTS: Housing starts for July rose to an annualized pace of 1.093M units, up from 0.945M units in June, and beating expectations for 0.963M units... The Consumer Price Index increased 0.1% overall, matching expectations. Less food and energy, the CPI was up 0.1%, which was also in-line with the consensus forecast. COMPANY NEWS: Shares of home improvement retailer The Home Depot (HD) are up more than 6% after the company posted better than expected second quarter results and raised its full year profit outlook... Shares of Sprint (S) are down 4% after Jefferies lowered its price target for Sprint shares to $4, saying it continues to see downside to estimates. MAJOR MOVERS: Shares of Skilled Healthcare (SKH) are up more than 20% after combining with Genesis HealthCare In 100% stock deal... Shares of cosmetics and fragrance company Elizabeth Arden (RDEN) are down 24% after the company's fourth quarter results came in well below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 76.92, or 0.46%, to 16,915.66, the Nasdaq was up 12.96, or 0.29%, to 4,521.27, and the S&P 500 was up 8.49, or 0.43%, to 1,980.23.
07:39 EDTSSprint price target lowered to $4 from $7 at Jefferies
Jefferies lowered its price target for Sprint shares to $4 saying it continues to see downside to estimates. The firm expects a "muted response" to Sprint's new Family Pack pooled data plan and limited time promotion of waiving device access charges. It keeps an Underperform rating on the stock.
07:12 EDTSFCC looks into telecom special access line rates, Reuters says
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August 18, 2014
19:41 EDTSSprint CEO says regulators weren't set on industry consolidation, Bloomberg says
Sprint (S) recently dropped its bid seeking control of competitor T-Mobile (TMUS).
18:33 EDTSSprint introduces Sprint Family Share Pack data plan, doubles high-speed data
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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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