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Stock Market & Financial Investment News

News Breaks
June 16, 2014
12:19 EDTCOV, FIO, MDT, SNDK, YHOO, TWTC, LVLT, BLUE, DWAOn The Fly: Midday Wrap
Stocks on Wall Street have traded on both sides of the ledger this morning, as investor concerns over the developing situation in Iraq are competing with another flurry of merger activity. There were a number of economic reports released during the morning, though the data had little effect on the market. Near noon the major averages were slightly lower, but once again moving in a narrow range, as headlines about the advance of insurgents in Iraq continue to dominate the news flow. ECONOMIC EVENTS: In the U.S., industrial production increased 0.6% in May, versus an expected increase of 0.5%, while capacity utilization rose slightly to 79.1%. The NY Fed Empire state survey for June ticked up to a four-year high of 19.3, which was higher than expected. The NAHB homebuilder survey index climbed to 49 in June, beating expectations for it to rise from its previous reading of 45 to 47. COMPANY NEWS: A number of merger and acquisition deals were announced over the weekend and this morning, headlined by a another pharmaceutical industry mega-merger. Medtronic (MDT) agreed to acquire Ireland's Covidien (COV) in a cash-and-stock transaction valued at $93.22 per Covidien share, or a total of approximately $42.9B based on Medtronic's closing stock price on June 13. Following the deal announcement, Covidien shares trading in New York rose 19%. Medtronic, which also raised its dividend by 9% this morning, was upgraded at both William Blair and JPMorgan, though it declined about 2.5% near noon. Meanwhile, SanDisk (SNDK) agreed to acquire Fusion-io for $11.25 per share in cash, or $1.1B net of cash assumed. SanDisk rose 3% following the deal, which Piper Jaffray said expands the company's enterprise and hyper-scale product line-up. Research firm Craig-Hallum said in a note to investors that it believes another interested party could step-in and make a bid for Fusion-io, which was up about 23% to $11.39 in midday trading, or 14c above the price agreed to by SanDisk. Additionally, Level 3 (LVLT) agreed to acquire tw telecom (TWTC) for $10 cash and 0.7 shares of Level 3 common stock per share in a transaction valued at $40.86 per share based on market close as of June 13. MAJOR MOVERS: Among the notable gainers outside of the M&A newsmakers was Bluebird bio (BLUE), which jumped 35% after reporting data over the weekend that Piper Jaffray believes solidifies LentiGlobin prospects in one indication and positions it attractively for another indication that is also being pursued for the drug. Among the noteworthy losers was family-film producer DreamWorks Animation (DWA), which dropped 11.5% after its latest film, "How to Train Your Dragon 2," didn't do as well as analysts had expected in its box-office debut. Also lower were shares of Yahoo! (YHOO), which fell 5% after Alibaba disclosed additional information about its revenue, income and other financial data as its gets closer to its planned initial public offering. Yahoo continues to be a significant shareholder in the Chinese e-commerce company, whose coming stock offering could surpass Facebook’s (FB) record as the biggest tech IPO. INDEXES: Near midday, the Dow was down 23.37, or 0.14%, to 16,752.37, the S&P 500 was down 1.00, or 0.05%, to 1,935.16, and the Nasdaq was virtually flat at 4,310.44.
News For COV;FIO;MDT;SNDK;YHOO;TWTC;LVLT;BLUE;DWA From The Last 14 Days
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July 16, 2014
06:09 EDTYHOOYahoo downgraded to Fair Value from Buy at CRT Capital
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06:03 EDTYHOOYahoo M&A chief says company not planning to buy AOL, Re/code reports
Yahoo (YHOO) is not planning to buy AOL (AOL), Yahoo M&A chief Jackie Reses commented at the Fortune Brainstorm Tech conference, Re/code reports. When asked whether she thought AOL would be acquired in the next two years, Reses said "Not by us." Reference Link
July 15, 2014
18:40 EDTYHOOYahoo advertising revenue drops as company prepares for Alibaba IPO, WSJ says
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18:29 EDTYHOOOn The Fly: After Hours Movers
UP AFTER EARNINGS: Intel (INTC), up 4.1% after reporting second quarter results... AMD (AMD), up 1.6% after Intel reported quarterly results... Cintas (CTAS), up 1.6% after reporting fourth quarter results and fiscal 2015 guidance. ALSO HIGHER: IBM (IBM), up 1.8% after announcing an enterprise mobile partnership with Apple (AAPL), which is up 1.5%. DOWN AFTER EARNINGS: Yahoo! (YHOO), down 2.3% after reversing direction during the company's second quarter earnings conference call. ALSO LOWER: BlackBerry (BBRY), down 3.4% following IBM and Apple partnership announcement.
17:49 EDTYHOOYahoo reverses during conference call, now down 2% in after-hours trading
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16:15 EDTYHOOYahoo lowers amount to sell in Alibaba IPO to 140M shares
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16:14 EDTYHOOYahoo reports Q2 Display revenue down 7% to $394M
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16:12 EDTYHOOYahoo rallies 3% to $36.59 following Q2 results
16:11 EDTYHOOYahoo sees Q3 revenue ex-tac $1.02B-$1.06B, consensus $1.10B
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16:10 EDTYHOOYahoo reports Q2 Price-per-Ad down 24% vs. last year
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16:08 EDTYHOOYahoo CEO says 'not satisfied' with Q2 results
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16:05 EDTYHOOYahoo reports Q2 EPS 37c, consensus 38c
Reports Q2 revenue ex-tac $1.04B, consensus $1.08B.
15:45 EDTSNDKSanDisk technical comments ahead of earnings
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15:27 EDTYHOONotable companies reporting after market close
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13:06 EDTYHOOEarnings Preview: Yahoo shares trading flat ahead of Q2 earnings report
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10:00 EDTYHOOOn The Fly: Analyst Initiation Summary
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09:05 EDTSNDKSanDisk to benefit from Amazon use of flash storage, says Pacific Crest
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07:32 EDTYHOOYahoo July 35.5 straddle priced for 4.5% move into Q2
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07:24 EDTLVLTMicrosoft to hold a conference
MSFT Worldwide Partner Conference to be held in Washington, D.C. on July 13-17.
06:41 EDTYHOOYahoo, Live Nation concert program to launch tonight, NY Times says
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