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Stock Market & Financial Investment News

News Breaks
February 13, 2013
12:24 EDTRAX, XONE, GE, RATE, DDD, CMCSA, CLF, WCG, PRLBOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday following the president's State of the Union address and a report that showed retail sales growth slowed in January. The Dow and S&P have moved back and forth across the flat line while the Nasdaq remained in positive ground throughout the morning, but was well off its early day highs near noon... ECONOMIC EVENTS: In the U.S., retail sales rose 0.1% in January, which was in-line with expectations though down from a 0.5% gain in December. Import prices rose 0.6% during the month, versus expectations for an increase of 0.8%, while Export prices were up 0.3% in January, matching the consensus forecast. Business inventories grew 0.1% in December, versus expectations for a 0.2% increase. Additionally, in his State of the Union address last night, President Obama outlined a mix of old and new proposals intended to jump-start the domestic economy as well as urging Congress to raise the minimum wage to $9 an hour from the existing $7.25. In Europe, Q4 industrial production fell 2.4% from the previous quarter, though production in the euro-zone rose 0.7% on the month in December... COMPANY NEWS: Comcast (CMCSA) announced several important developments late Tuesday and investors reacted favorably, sending its stock up over 4%. The company reported its Q4 results but also announced it will buy General Electric’s (GE) remaining 49% equity stake in NBCUniversal for $16.7B, increased its dividend by 20% to 78c per share and said it plans to buy back $2B of its stock in 2013. After the earlier than expected sale of the JV interest, GE said it was raising its share repurchase plan to $35B and accelerating its 2013 share buybacks to about $10B and its shares rose about 3%... MAJOR MOVERS: Among the notable gainers was Proto Labs (PRLB), up 23%, after its better than expected earnings report as well as a positive mention of 3D printing technology by President Obama last night. Shares of publicly traded 3D printer makers moved up as well, including 3D Systems (DDD) and ExOne (XONE). Also higher were shares of WellCare (WCG), which gained 10% after its earnings and revenue both beat consensus expectations. Among the noteworthy losers after earnings reports that sparked analyst downgrades were Bankrate (RATE), down nearly 20% and downgraded at Citi, Rackspace (RAX), down 18% and downgraded at Stifel Nicolaus, and Cliffs Natural (CLF), which was downgraded at Deutsche Bank, Citi and Macquarie and saw shares fall about 19%... INDICES: Near noon, the Dow was down 44.62, or 0.32%, to 13,974.08; the Nasdaq was up 4.55, or 0.14%, to 3,191.04; and the S&P 500 was up 0.30, or 0.02%, to 1,519.73.
News For CMCSA;GE;PRLB;DDD;XONE;WCG;RATE;RAX;CLF From The Last 14 Days
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February 24, 2015
07:02 EDTCMCSAComcast reports Q4 adjusted EPS 77c, consensus 78c
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February 23, 2015
19:40 EDTWCGLeerink healthcare services analyst holds an analyst/industry conference call
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18:20 EDTCMCSAComcast, Time Warner Cable face $20B racial discrimination suit, Reuters reports
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16:27 EDTWCGOn The Fly: Closing Wrap
Stocks on Wall Street began the session in negative territory and remained there for most of the session, with the Nasdaq the lone index to post a small gain. The Dow was weighed down by shares of Boeing (BA), which slid after the stock received a downgrade. There was little in the way of positive economic news, as the most notable report showed existing homes were lower than expected due to a shortage of inventory. The averages drifted for most of the session, as investors may be waiting on the sidelines ahead of tomorrow’s banking panel testimony by Fed Chair Janet Yellen. ECONOMIC EVENTS: In the U.S., the Chicago Fed national activity index rebounded to 0.13 in January, which was nearly in-line with expectations. Existing home sales dropped 4.9% to a 4.82M rate in January, which was much worse than the expected 1.8% drop to a 4.95M unit rate. In Europe, the Ifo Institute’s measure of German business confidence rose to 106.8 in February, which was up a tenth of a percentage point from the previous month but below the 107.7 consensus forecast. Also, the Bank of Israel became the latest central bank to cut rates this year, lowering its main interest rate to 0.1% from 0.25%. COMPANY NEWS: The shares of a number of health insurers rose after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for the insurers. Following the CMS announcement made late Friday, Humana (HUM) climbed $8.40, or 5.38%, to $164.52, UnitedHealth (UNH) rose $3.78, or 3.36%, to $116.40, and WellCare (WCG) gained $4.68, or 5.53%, to $89.30. MAJOR MOVERS: Among the notable gainers was PTC Therapeutics (PTCT), which jumped $9.77, or 17.7%, to $64.96 after Reuters said the company is working with financial advisers to explore a potential sale after receiving takeover interest from several companies including Shire (SHPG) and BioMarin (BMRN). Also higher was Valeant (VRX), which rose $25.49, or 14.71%, to $198.75 after the company agreed to buy Salix (SLXP) for $158 per share and also reported better-than-forecast earnings. Salix shares, however, fell $2.09, or 1.32%, to $155.76, as a report Friday from CNBC's David Faber telegraphed the deal and suggested Valeant could value Salix around $160 per share. Among the noteworthy losers was Spectrum Pharmaceuticals (SPPI), which dropped $1.18, or 15.82%, to $6.28 after a judge ruled that a drug which could compete with the company's Fusilev treatment does not infringe on the company's intellectual property. Also lower were shares of Boeing, which fell $3.57, or 2.26%, to $154.74 after the stock was downgraded to Sell from Neutral at Goldman Sachs. INDEXES: The Dow fell 23.60, or 0.13%, to 18,116.84, the Nasdaq gained 5.01, or 0.1%, to 4,960.97, and the S&P 500 slipped 0.64, or 0.03%, to 2,109.66.
15:23 EDTCMCSANotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include Comcast (CMCSA), consensus 78c... Home Depot (HD), consensus 89c... American Tower (AMT), consensus 51c... Ecolab (ECL), consensus $1.20... Macy's (M), consensus $2.40... Pall Corp. (PLL), consensus 87c... Windstream (WIN), consensus 3c.
15:10 EDTCMCSAComcast $CMCSA Feb weekly 58 straddle priced for 2.7% movement into Q4
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12:21 EDTWCGOn The Fly: Midday Wrap
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12:07 EDTGEEU opens probe in GE's proposed acquisition of Alstom's energy business
The European Commission has opened an in-depth investigation to assess whether General Electric's (GE) proposed acquisition of the Thermal Power, Renewable Power & Grid businesses of Alstom (ALSMY) is in line with the EU Merger Regulation. The Commission’s preliminary investigation indicates potential competition concerns in the market for heavy-duty gas turbines which are mainly used in gas-fired power plants. The transaction would bring together the activities of GE, the world's largest manufacturer of heavy-duty gas turbines, with those of Alstom, eliminating one of the three main global competitors to GE in this market. The opening of an in-depth inquiry does not prejudge the final result of the investigation. The Commission now has 90 working days, until 8 July, to take a final decision. Reference Link
11:10 EDTWCGHealth insurers rise after CMS releases preliminary Medicare Advantage rates
The shares of a number of health insurers are rising after the Centers for Medicare and Medicaid Services, or CMS, issued preliminary 2016 Medicare Advantage rates. According to Credit Suisse, the rates were favorable for health insurers. WHAT'S NEW: On Friday after the market closed, CMS issued a proposal for 2016 Medicare Advantage rates. The rates are preliminary and could change when CMS announces the final 2016 rates on April 6 of this year, the agency noted. In a note to investors earlier today, Credit Suisse analyst Ralph Giacobbe estimated that, under CMS' initial proposal, insurers would see rate changes of between -1% and +1%, depending on the risk that each insurer faces. The preliminary rates were "favorable" for insurers, since the rates were "in-line if not slightly better" than investors had expected, the firm stated. Moreover, CMS decided not to restrict at-home health risk assessments, as had been feared, and agreed to reduce the weighting of certain risk factors that had hurt previously certain plans with a higher proportion of low-income beneficiaries, acceding to a request by insurers. Insurers with the highest exposure to Medicare Advantage include Humana (HUM), UnitedHealth (UNH), and WellCare (WCG), the analyst stated. WHAT'S NOTABLE: After analyzing CMS' proposal, health insurer Aetna (AET) estimated that the proposal would cause government funding for its Medicare Advantage business to decline by about 1% in 2016. Aetna added that it is continuing to evaluate the changes outlined in the Advance Notice and their impact on the company and its Medicare Advantage members. OTHERS TO WATCH: Other publicly traded health insurance companies include Anthem (ANTM), AMERIGROUP (AGP), Centene (CNC), Cigna (CI), Health Net (HNT), Healthspring (HS), and Molina Healthcare (MOH). PRICE ACTION: In mid-morning trading, Humana climbed 5.3% to $164.43, UnitedHealth rose 2.6% to $115.56, WellCare gained 6.3% to $90, Aetna advanced 2% to $99.91, and Centene added 3.4% to $61.93.
10:17 EDTRAXOptions with decreasing implied volatility
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08:33 EDTCMCSA'Fifty Shades' ticket sales retain top spot at box office, Reuters says
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08:05 EDTWCGCMS releases preliminary Medicare Advantage rates for 2016
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07:40 EDTCLFBMO Capital to hold a conference
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07:38 EDTCMCSAComcast, AT&T deals could be delayed by document access case, WSJ says
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February 20, 2015
12:02 EDTCMCSAComcast management to meet with Jefferies
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10:30 EDTRAXOptions with decreasing implied volatility
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08:26 EDTGEArc Logistics to acquire all membership interests Joliet Bulk for $216M
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07:18 EDTCMCSAComcast volatility elevated into Q4 and outlook
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06:49 EDTCMCSAMSNBC cancels two talk shows, Politico says
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05:20 EDTDDD3D Systems implied volatility of 68 at upper end of index mean range
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