|January 9, 2013|
|12:37 EDT||APOL, HLF, CLWR, GPN, DISH, HA, NUVA, S||On 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
|February 8, 2016|
|09:17 EDT||APOL||On The Fly: Pre-market Movers |
HIGHER: Apollo Education (APOL), up 26.6% after announcing that it will be acquired for $9.50 per share... Sprouts Farmers Market (SFM), up 5% after being added to S&P 400... GoPro (GPRO), up 3.4% after signing a licensing agreement with Microsoft (MSFT). LOWER: BioCryst Pharmaceuticals (BCRX), down 60.9% after reporting OpuS-2 clinical trial results... CTI BioPharma (CTIC), down 55.4% after the FDA placed a partial clinical hold on pacritinib studies... Tableau (DATA), down 5.5% after being downgraded to Equal Weight at Morgan Stanley... HSBC (HSBC), down 3.6% after being downgraded to Underweight from Equal Weight at Morgan Stanley... Chesapeake Energy (CHK), down 21% after Hedgeye analyst Kevin Kaiser said in an interview with Barron's that Chesapeake could go to zero... Twitter (TWTR), down 2.9% after backlash over its new algorithmic timeline.
|07:03 EDT||APOL||Apollo Global consortium to acquire Apollo Education for $9.50 per share|
Apollo Education Group (APOL) announced it has entered into a definitive agreement to be acquired by a consortium of investors including The Vistria Group, funds affiliated with Apollo Global Management (APO), and Najafi Companies for $9.50 per share in cash for both Class A and B shares. The purchase price represents a premium of 30% over Apollo Education Group's 30-day volume weighted average stock price for the period ended Feb. 5, and a 44% premium over the closing price on Jan. 8, immediately prior to the announcement that the Board of Directors was pursuing strategic alternatives. Tony Miller, Chief Operating Officer and Partner of The Vistria Group and former Deputy Secretary of the U.S. Department of Education, will become Chairman of the Apollo Education Group Board upon transaction close. Upon completion of the transaction, Apollo Education Group will be privately held and its affiliated institutions will remain subject to the same U.S. and international regulations and accreditation standards. The agreement was approved by Apollo Education Group's Board of Directors. The acquisition is expected to be completed by Apollo Education Group's fiscal year-end, in August 2016. Apollo Education Group and Apollo Global Management are unaffiliated entities.
|07:00 EDT||APOL||Apollo Education to be aquired by group led by Apollo Global for $9.50 per share|
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|February 7, 2016|
|20:36 EDT||APOL||On The Fly: Top five weekend stock stories|
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Ford (F) plans to build a new assembly plant in Mexico and expand its existing factory near Mexico City, sharply increasing production capacity in the country as it looks to focus its U.S. efforts on trucks and SUVs, the Wall Street Journal reported. 2. GoPro (GPRO) and Microsoft (MSFT) signed a patent licensing agreement late Friday, lifting shares of the action camera maker in after-hours trading. 3. Media reports indicate Twitter (TWTR) could be rethinking its news feed, potentially ordering posts based on popularity rather than chronological date. 4. Apollo Education (APOL) received a second investigative subpoena from California's attorney general related to the marketing, recruiting, accreditation, and other aspects of its for-profit schools. 5. Celgene (CELG), Gilead (GILD), Thermo Fisher (TMO) and Vantiv (VNTV) were mentioned positively by Barron's this weekend, while Church & Dwight (CHD) was called overvalued and GoPro was identified as a possible takeover target by Under Armour (UA) or Sony (SNE).
|February 5, 2016|
|17:11 EDT||APOL||Apollo Education receives second investigative subpoena|
On February 4, we received a Second Investigative Subpoena from the Office of the Attorney General of the State of California in the Matter of the Investigation of For-Profit Educational Institutions, following the Investigative Subpoena we received in August 2015. The Second Investigative Subpoena seeks the production of documents and information regarding a broad spectrum of the business and practices of Apollo Education Group, and each of our subsidiaries, including University of Phoenix, Inc., relating to marketing, recruiting, compensation of enrollment advisors, complaints, financial aid, compliance, accreditation, other governmental investigations, private litigation and other matters, as well as additional information relating to marketing and services to members and former members of the U.S. military and California National Guard, for the time period of July 1, 2010 to the present. We are cooperating with the Attorney General in this investigation. We cannot predict the eventual scope, duration or outcome of the investigation at this time.
|09:04 EDT||DISH||DISH to open software development office in Denver, add 100 tech jobs|
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|February 4, 2016|
|16:04 EDT||HA||Hawaiian Airlines reports January RPMs up 5.2%|
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|February 2, 2016|
|16:37 EDT||GPN||Heartland Payment reports Q4 adjusted EPS 84c, consensus 75c|
Reports Q4 revenue $214.1M, consensus $208.88M. Reports same store sales of 2.2% and net volume attrition of 10.8%. The company said, "Our announced combination with Global Payments will be transformative for the worldwide payments industry, and represents a combination that I believe will become the most valuable payments company in the world. It combines two of the fastest organic growth businesses in the payments industry and creates the leading global provider of integrated payments technology solutions. Our customers will be in great hands, benefitting from both the most innovative tools and the best facilities in the industry. And through this combination, we can begin to leverage our existing relationships with ISVs outside the United States by adding our processing capabilities to their portfolio of Heartland services. It is exciting to team with a truly international company."
|February 1, 2016|
|12:42 EDT||HLF||Herbalife names John Agwunobi Chief Health and Nutrition Officer|
Herbalife announces that John Agwunobi has joined the company as its Chief Health and Nutrition Officer. Most notably, from 2005-2007, he served as the Assistant Secretary of Health for the U.S. Department of Health and Human Services.
|09:27 EDT||HLF||On The Fly: Pre-market Movers |
HIGHER: Alere (ALR), up 45.4% after announcing that Abbott (ABT) will acquire the company for $56 per share... Questar (STR), up 20.2% after announcing that Dominion (D) will acquire the company for $25 per share and assumed debt... Mast Therapeutics (MSTX), up 12.2% after the Phase 2a study of AIR001 met its primary endpoint... Twitter (TWTR), up 5.7% after The Information reported that Marc Andreessen and Silver Lake have considered a deal for Twitter... Herbalife (HLF), up 2.2% after the Wall Street Journal reported that probes into Bill Ackman's "pyramid scheme" accusations against Herbalife, as well as Herbalife's own accusations that Ackman sought to manipulate the company's stock, have both failed to uncover enough evidence to support criminal charges. LOWER: Dominion Resources, down 1.7% after reporting quarterly results and that it will acquire Questar... Abbott, down 4.1% after announcing that it will acquire Alere... GoPro (GPRO), down 4.4% after Piper Jaffray cut its price target to $7.50.
|09:11 EDT||DISH||DISH says releases Hopper 3 to customers nationwide|
DISH Network (DISH) announced the availability of its award-winning Hopper 3 to customers nationwide. The third-generation of DISH's whole-home DVR system, Hopper 3 features 16 tuners, delivers an enhanced 4K experience and supports up to seven TVs simultaneously. In the coming weeks, Hopper 3 will launch the Netflix (NFLX) app and integrate Netflix titles into its universal search results.
|09:04 EDT||HLF||Herbalife moves higher in pre-market|
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|January 31, 2016|
|20:43 EDT||HLF||On The Fly: Top five weekend stock stories|
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
|19:24 EDT||HLF||Herbalife, Ackman probes fail to find criminal evidence, WSJ says|
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|11:39 EDT||S||S&P falls 5% in January despite second straight winning week to close month|
Stocks finished the month of January with two straight winning weeks, but investors are still glad to see the calendar flip as those winners only cut the S&P's loss to 5% for the month. With growth worries abounding amid troubling signs from China and as oil languishes below $35 per barrel, the manufacturing readings from China, Europe, and the U.S. due out on Monday will be essential to whether the new month continues the uptrend of the end of January or the dour tone that dominated the early half of the month. MACRO NEWS: The Federal Reserve kept interest rates unchanged following its policy meeting this week, as almost universally expected. In its accompanying statement, the central bank said its committee members expect that economic conditions will "evolve in a manner that will warrant only gradual increases in the federal funds rate." The group added that inflation is expected to "remain low in the near term, in part because of the further declines in energy prices, but to rise to 2% over the medium term as the transitory effects of declines in energy and import prices dissipate and the labor market strengthens further"... In other domestic economic news, the Commerce Department's first read on fourth quarter gross domestic product came in at 0.7% annualized growth, below the already anemic 0.8% growth forecast. The S&P/Case-Shiller 20-city home price index rose 5.8% from the prior year in November, topping expectations for a 5.7% year-over-year increase. The separate FHFA house price index showed a monthly gain of 0.5% in November, matching the consensus forecast. Markit's services PMI for January came in at 53.7, missing the 54.0 forecast. The preliminary reading of the Conference Board's consumer confidence index for January came in at 98.1, topping the 96.5 reading that was expected. New home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. Initial jobless claims fell to 278,000 last week, versus the expected 281,000 first-time claims. Durable goods orders dropped 5.1% in December, versus expectations for a decrease of 0.7%. The core reading, which removes transportation items, was down 1.2%, versus expectations for a decline of 0.1%. The University of Michigan consumer sentiment index slipped to 92.0 in the final January print, missing the 93.0 reading that was forecast... In a surprising move in Asia, the Bank of Japan introduced a rate of minus 0.1% on certain excess holdings of cash while maintaining the pace of its asset purchases. Japan also reported data pointing to a softening economy, as total CPI grew 0.2% year-over-year in December, core CPI rose at only a 0.1% pace and industrial production fell a preliminary 1.4% month-over-month in December. COMPANY NEWS: McDonald's (MCD) advanced Monday after the fast food giant reported better than expected earnings and comparable sales growth for the fourth quarter, powered by the launch of All Day Breakfast in the U.S.... Earnings season accelerated Tuesday as four members of the bluechip Dow Jones Industrial Average posted results before the opening bell. 3M (MMM) was the top advanced on the index with a gain of over 5%, while Johnson & Johnson (JNJ), Procter & Gamble (PG) and DuPont (DD) all notched gains that day following their reports as well... Apple (AAPL) declined more than 6.5% on Wednesday after the tech giant reported first quarter earnings that topped consensus estimates, but also issued revenue guidance for the new quarter that missed expectations. The company was noted by several analysts as taking a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China. Apple was not the worst performer in the Dow that day, as Boeing (BA) shares plummeted nearly 9% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast... Facebook (FB) surged 15.5% on Thursday after the social media giant's fourth quarter earnings and revenue beat expectations. A number of Wall Street analysts increased their price targets for the stock following the report, including Piper Jaffray's Gene Munster, who hiked his target to a "Street-high" $170 per share. The same day, Caterpillar (CAT) reported better than expected quarterly earnings, excluding certain items, but its revenue came in below the consensus forecast and the heavy equipment maker warned that it does not anticipate an improvement in the world economy or commodity prices in 2016. The stock, which had declined almost 20% in the last three months prior to this morning's report, rebounded almost 5% after the company jumped over the lowered bar that had been set by bearish analysts... On Friday, shares of Amazon (AMZN) declined more than 7.5% after the company's fourth quarter results came in below expectations. Meanwhile, Microsoft (MSFT), which reported better than expected earnings, gained almost 6%. Chevron (CVX) reported a quarterly loss due to taking impairments and other charges of $1.1B. The company, which also reported that its average sales price per barrel of crude oil and natural gas liquids in the U.S. was $35 in fourth quarter, down from $66 a year ago, edged up 0.7% to $86.44... Among the many others reporting earnings this week, Visa (V), Mastercard (MA), Under Armour (UA), Sprint (S) and Biogen (BIIB) gained immediately following their reports, while Qualcomm (QCOM), eBay (EBAY), U.S. Steel (X), VMware (VMW) and Anthem (ANTM) all slid following their own... Xerox (XRX) announced plans to separate into two independent publicly-traded companies: one focused on Document Technology and another Business Process Outsourcing company. Xerox also announced an agreement related to the governance of the Business Process Outsourcing company under which six directors of the new company will be selected by Xerox and three will be selected by current Xerox shareholder Carl Icahn... Terex (TEX) surged more than 36% higher on Tuesday after receiving a $30 per share acquisition offer from China's Zoomlion. Terex peers Manitowoc (MTW), Joy Global (JOY) and Oshkosh (OSK) also gained after the offer was disclosed... Weight Watchers (WTW) shares soared nearly 20% Tuesday after noted shareholder and partner Oprah Winfrey tweeted a video detailing her progress using the company's program, indicating that she'd already lost 26 pounds thanks to its plan... AIG (AIG) provided its much-anticipated strategy update, committing to return at least $25B to shareholders over the next two years and announcing the sale of AIG Advisor Group to Lightyear Capital and PSP Investments. The company, under ongoing pressure from activist investors including Carl Icahn, also said it will publicly offer a portion of its United Guaranty unit, though it expressly rejected a full company breakup... SunEdison (SUNE) gained 18% during the week after agreeing to new corporate governance initiatives with David Einhorn's Greenlight Capital, including amending its bylaws to restrict equity issuances for two years without a supermajority board vote... Twitter (TWTR) slumped nearly 6% this week after CEO Jack Dorsey confirmed the departure of four company executives, leading research firm Stifel to downgrade the shares. INDEXES: The Dow gained about 2.2% to close at 16,466.30; the S&P 500 rose about 1.6% to close at 1,940.24; the Nasdaq advanced about 0.4% to close at 4,613.95.
|January 29, 2016|
|08:49 EDT||APOL||Apollo Education investor pushes board to reconsider sale, Bloomberg says|
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|January 28, 2016|
|10:04 EDT||HA||On The Fly: Analyst Upgrade Summary|
Today's noteworthy upgrades include: Amdocs (DOX) upgraded to Buy from Neutral at BofA/Merrill... Cheesecake Factory (CAKE) upgraded to Overweight from Equal Weight at Stephens... Chemical Financial (CHFC) upgraded to Buy from Hold at Sandler O'Neill... Cimarex Energy (XEC) upgraded to Buy from Hold at Wunderlich... Cirrus Logic (CRUS) upgraded to Outperform from Perform at Oppenheimer... Citrix (CTXS) upgraded on Q4 results, valuation at JMP Securities... Comerica (CMA) upgraded to Market Perform from Underperform at BMO Capital... Community Health (CYH) upgraded to Market Perform from Underperform at Raymond James... Denny's (DENN) upgraded to Overweight from Equal Weight at Stephens... Dolby (DLB) upgraded to Buy from Neutral at Dougherty... EMC (EMC) upgraded to Buy from Neutral at Mizuho... Halliburton (HAL) upgraded to Buy from Accumulate at KLR Group... Hanmi Financial (HAFC) upgraded to Strong Buy from Outperform at Raymond James... Hawaiian Holdings (HA) upgraded to Neutral at BofA/Merrill... Hologic (HOLX) upgraded to Buy from Hold at Needham... Kinder Morgan (KMI) upgraded at Stifel... MGM China (MCHVF) upgraded to Overweight from Neutral at JPMorgan... Nimble Storage (NMBL) upgraded to Buy from Hold at Maxim... Patterson Companies (PDCO) upgraded to Buy from Neutral at UBS... PayPal (PYPL) upgraded to Outperform on core market share gains at Wedbush... Prosperity Bancshares (PB) upgraded to Buy from Neutral at DA Davidson... RPC, Inc. (RES) upgraded to Overweight from Equal Weight at Morgan Stanley... Rowan Companies (RDC) upgraded to Equal Weight from Underweight at Morgan Stanley... SanDisk (SNDK) upgraded to Buy from Neutral at Mizuho... Stillwater Mining (SWC) upgraded to Outperform from Market Perform at FBR Capital... Vantiv (VNTV) upgraded to Positive from Neutral at Susquehanna... Wilshire Bancorp (WIBC) upgraded to Outperform from Market Perform at Raymond James.
|08:45 EDT||HA||Hawaiian Holdings upgraded to Neutral at BofA/Merrill|
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|06:30 EDT||HA||Hawaiian Holdings upgraded to Neutral from Underperform at BofA/Merrill|
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|05:20 EDT||HLF||Stocks with implied volatility above IV index mean; HLF ODP|
Stocks with implied volatility above IV index mean; Herbalife (HLF) 63, Office Depot (ODP) 94 according to iVolatility.