New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 2, 2012
12:58 EDTTRIP, RIMM, CHRS, CHK, AGN, CVS, RATE, MCHP, OPEN, AGP, NOK, ASNA, SMSC, RRD, TWX, CMCSA, CBSOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, following disappointing jobs data at home and abroad. The market began the session in the red following worse than expected data from the ADP employment change report. The market hit its lows shortly after the open and has moved in narrow range since, but has trended higher in the last hour. The move higher came after a slightly better than expected factory orders report and an energy inventories report that showed a larger draw down of gas and distillate supplies than were forecast... ECONOMIC EVENTS: In the U.S., ADP said that 119,000 private-sector jobs were added in April, missing expectations for 170,000 job additions. Factory orders declined 1.5% in March, versus expectations of a 1.6% drop. In Europe, two pieces of disappointing data were reported: unemployment rose to 10.9% in the shared-currency bloc, its highest level since the euro's launch in 1999, and the eurozone's manufacturing sector contracted at the sharpest pace in almost three years, with the manufacturing PMI for the region falling to 45.9 in April from 47.7 in March. In China, HSBC's "flash" PMI manufacturing survey improved to 49.3 from 48.3 in the prior reading... COMPANY NEWS: A number of media companies reported better than expected results on both the top and bottom lines, including Comcast (CMCSA), Time Warner (TWX) and CBS (CBS), but only CBS saw its shares move up following its announcement. CBS shares gained more than 3%, while Comcast fell 1.5% and Time Warned moved almost 2% lower... Among other companies reporting earnings, advancers included CVS Caremark (CVS), TripAdvisor (TRIP) and Amerigroup (AGP); decliners included Allergan (AGN), R.R. Donnelley (RRD) and OpenTable (OPEN)... Chesapeake (CHK) gave up all of the 8% in gains it realized yesterday and then some, falling about 13% after its earnings missed consensus and Reuters reported on new potential conflicts of interests for its CEO Aubrey McClendon... MAJOR MOVERS: Among the notable gainers were Standard Microsystems (SMSC), up 38%, on news it will be acquired by Microchip Technology (MCHP) for $37 per share in cash, and both Charming Shoppes (CHRS), up over 23%, and Ascena Retail Group (ASNA), up almost 11%, after the companies announced plans for Ascena to acquire Charming. Noteworthy losers included Bankrate (RATE), down 12%, following its earnings report, and Research in Motion (RIMM), down almost 5%, as investors continue to react negatively to the company's new product announcements and Nokia (NOK) sued RIM and others in the U.S. and Germany on accusations of patent infringement... INDICES: Near noon, the Dow was down 47.38, or 0.36%, to 13,231.94; the Nasdaq was down 1.63, or 0.05%, to 3,048.81; and the S&P 500 was down 6.69, or 0.48%, to 1,399.13.
News For CMCSA;TWX;CBS;CVS;TRIP;AGP;AGN;RRD;OPEN;CHK;SMSC;MCHP;CHRS;ASNA;RATE;RIMM;NOK From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | all recent news | >>
March 17, 2015
09:13 EDTCHKChesapeake downgraded to Sell from Neutral at Global Hunter
09:13 EDTAGNActavis says Allergan CEO not joining combined company board
Subscribe for More Information
09:13 EDTCHRSCoherus finalizes CHS-1701 BLA enabling clinical program
Coherus BioSciences announced that it has finalized the Biologics License Application, or BLA, enabling clinical program for CHS-1701, a pegfilgrastim biosimilar candidate, and initiated a pivotal pharmacokinetics and pharmacodynamics study pursuant to feedback received from the FDA on the CHS-1701 development plan. An additional immunogenicity study is planned in healthy volunteers pursuant to this BLA and is projected to be concluded in 2015 to support submission of the 351(k) license application for CHS-1701 in Q4 2015 or Q1 2016.
08:58 EDTAGNActavis sees double digit accretion to adjusted EPS within first 12 months
08:58 EDTAGNActavis says will 'immediately begin implementing' integration plans
Subscribe for More Information
08:57 EDTAGNActavis completes acquisition of Allergan
Actavis plc (ACT) announced that it has completed the acquisition of Allergan (AGN) in a cash and equity transaction valued at approximately $70.5B. The combination creates one of the world’s top 10 pharmaceutical companies by sales revenue, with combined annual pro forma revenues of more than $23B anticipated in 2015. Actavis continues to expect the transaction to generate double-digit accretion to non-GAAP earnings within the first 12 months, including approximately $1.8B in operating and financial synergies to be realized within one year following the close. These synergies exclude any additional revenue or manufacturing synergies, and are in addition to the $475M of annual savings previously announced by Allergan in connection with Project Endurance. Actavis further expects to generate strong operating cash flow in excess of $8B in 2016, which would enable the company to rapidly de-lever the balance sheet.
08:56 EDTAGNActavis completes Allergan acquisition valued at $70.5B
Subscribe for More Information
08:33 EDTRATEBankrate sees Q4 revenue $136.5M, consensus $138.95M
Subscribe for More Information
06:31 EDTCVSStudies find Gilead's hepatitis C drugs cost effective, Reuters says
Subscribe for More Information
05:46 EDTTWXApple set to launch online TV service this year, Financial Times reports
Subscribe for More Information
March 16, 2015
18:38 EDTAGNAmerican Airlines to replace Allergan in S&P 500 as of 3/20 close
Subscribe for More Information
17:19 EDTAGNAmerican Airlines to replace Allergan in S&P 500 as of 3/20 close
15:24 EDTTWXCablevision to provide HBO NOW via Optimum Online
Cablevision (CVC) and Time Warner's (TWX) Home Box Office announced that they have reached an agreement to offer standalone streaming service HBO NOW to Optimum Online customers via the internet. Optimum is the first cable provider to partner with HBO to offer the new service, which is expected to launch in April in time for the fifth season of Game of Thrones, the companies said. Cablevision plans to provide pricing and other particulars for HBO NOW in the coming weeks. Terms of the agreement were not disclosed. Apple (AAPL) and Time Warner announced on March 9 that HBO NOW will premier on Apple devices in April.
10:44 EDTTWX, CMCSANetflix retreats after cut to sell on competition, cost concerns
The shares of Netflix (NFLX) are falling after research firm Evercore ISI downgraded the stock to Sell from Hold. Increased competition will force the company to increase its investments and the return from those investments is uncertain, the firm contends. WHAT'S NEW: In the U.S., technological advancements are enabling content providers to sell their programming to a wider range of Internet video distributors, Evercore ISI analyst Ken Sena wrote in a note to investors earlier today. Moreover, content providers themselves are now able to stream more of their programming online and obtain higher profits from doing so, Sena reported. The analyst noted that Apple (AAPL) recently obtained a three month exclusive deal to stream content form Time Warner's (TWX) HBO Now, while Yahoo (YHOO), Amazon (AMZN), and Hulu (DIS, CMCSA, NWSA) are all reportedly interested in obtaining streaming rights to "Seinfeld." Netflix's international expansion will not be sufficient to offset the increased competition, especially because foreign viewers are likely to watch less TV and be less interested in paying for TV content, the analyst believes. Furthermore, Netflix will face more competition from other Internet TV services overseas than in the U.S., according to Sena, who cut his 2015 consolidated operating income estimate for the company by 26% to $381M from $517M previously. In addition to cutting his rating, Sena lowered his price target on the shares to $380 from $450. PRICE ACTION: In early trading, Netflix sank $16, or 3.7%, to $422.
10:22 EDTAGNEuropean Commission clears Actavis' pending acquisition of Allergan
Subscribe for More Information
10:14 EDTAGNOptions with decreasing implied volatility
Options with decreasing implied volatility: EXPR ULTA SGMS QIHU BKS PAY URBN AGN AGNC
09:37 EDTTRIPActive equity options trading on open
Subscribe for More Information
09:30 EDTRRDR.R. Donnelley downgraded to Neutral from Buy at Sidoti
Subscribe for More Information
07:39 EDTCBSViacom shareholder meeting may question Viacom, CBS control, NY Post says
Subscribe for More Information
March 15, 2015
19:12 EDTTWXDisney's 'Cinderella' takes top spot at domestic weekend box office with $70.1M
Rentrak (RENT) announced the official domestic weekend box office estimates for the weekend of March 15, as compiled by the company's theatrical measurement services. Disney's (DIS) "Cinderella" took the top spot at the domestic weekend box office with $70.1M: Warner Bros' (TWX) "Run All Night" took the second spot at the box office with $11M; 20th Century Fox's (FOX, FOXA) "Kingsman: The Secret Service" took third with $6.2M; Warner Bros' "Focus" took the fourth spot at the box office with $5.8M and Sony's (SNE) "Chappie" took fifth place with $5.8M.
1 | 2 | 3 | 4 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use