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December 30, 2013
16:12 EDTCROX, BX, CTB, NQ, DIS, MYGN, TWTROn The Fly: Closing Wrap
The Wall Street averages were mixed, with the Dow the only one of the major indexes to close in the green. The market saw extremely light volume on a paltry news flow to start the second straight holiday-shortened trading week. Ahead of tomorrow's final trading session of 2013, the benchmark S&P 500 is up about 29%, the tech-heavy Nasdaq is higher by nearly 38%, and the blue-chip Dow is up over 25%, making 2013 one of the best years for equities since the late-1990s. ECONOMIC EVENTS: In the U.S., the pending home sales index increased 0.2% in November from the prior month, versus an expected increase of 1%. The Dallas Fed's manufacturing index edged up to 3.1 in December after falling to 1.9 in November. COMPANY NEWS: Footwear maker Crocs (CROX), rose $2.81, or 21.08%, to $16.14 after the company announced a financial partnership with private equity firm Blackstone (BX). Blackstone will buy $198 million of convertible preferred stock in Crocs, which will launch a $350 million share buyback initiative. In conjunction with the deal, Blackstone will be able to name two representatives to Crocs' board and the company's CEO, John McCarvel, will resign... Cooper Tire (CTB) shares rose $1.24, or 5.4%, to $24.20 after the company announced it had terminated its merger agreement with India's Apollo Tyres. MAJOR MOVERS: Among the notable gainers was NQ Mobile (NQ), up $2.05, or 17.3%, to $13.90 after Morgan Stanley (MS) disclosed a 5.2% passive stake in the Chinese mobile Internet service provider. Also higher was Disney (DIS), which advanced $1.88, or 2.53%, to $76.23 after the stock was upgraded by analysts at Guggenheim to Buy from Neutral and reports said that the continued strong performance of "Frozen" at the box office has made it the company's second-highest grossing animated film of all time. Myriad Genetics (MYGN) fell $3.35, or 13.88%, to $20.79 after the Centers for Medicare and Medicaid Services confirmed on Friday that it plans to cut reimbursement rates for the company's BRCA genetic tests, which are used to identify people who have a very high likelihood of developing certain cancers. Among the other noteworthy losers was Twitter (TWTR), which fell another $3.24, or 5.08%, to $60.51, bringing the stock's decline to more than 16% since its post-Christmas closing high of $73.31. INDEXES: The Dow gained 25.88, or 0.16%, to 16,504.29, the Nasdaq lost 2.40, or 0.06%, to 4,154.20, and the S&P 500 slipped 0.33, or 0.02%, to 1,841.07.
News For CROX;BX;CTB;NQ;DIS;MYGN;TWTR From The Last 14 Days
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April 8, 2014
07:25 EDTDISBook by Pixar president explains growth crisis under Disney, Bloomberg says
"Creativity, Inc," a new book by Pixar's president Ed Catmull, describes three crises the company faced after it was acquired by Disney seven years ago, according to Bloomberg, citing comments from Catmull in his book. Reference Link
06:27 EDTDISMajor movie studios file lawsuit against Megaupload, Engadget reports
The MPAA announced that major movie studios have filed a civil lawsuit against filesharing site megaupload two years after federal investigators shut down the website and filed criminal charges against its founder, reports Engadget. The lawsiut targets the site's Uploader Rewards program with the claim that the business model was "designed to encourage theft." Reference Link
06:19 EDTTWTRTwitter initiated with a Buy at Janney Capital
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April 7, 2014
16:34 EDTMYGNMyriad Genetics submits premarket approval to FDA for BRACAnalysis
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12:11 EDTTWTRTwitter acquires Cover, terms not disclosed
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11:09 EDTMYGNMyriad Genetics advises prior BRACAnalysis news release be disregarded
Myriad Genetics advised that readers should disregard the news release, "Myriad Genetics Submits Premarket Approval to FDA for BRACAnalysis" issued April 7 by the company over GlobeNewswire.
10:16 EDTMYGNMyriad Genetics has a conference call hosted by JPMorgan
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08:19 EDTDIS'Captain America' sequel breaks records with $96.2M debut, LA Times says
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07:45 EDTDISNoble Financial Capital Markets to hold a forum
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06:49 EDTTWTRWeibo looking to raise over $380M in IPO, NY Times says
SINA's (SINA) Weibo hopes to raise more than $380M in its upcoming IPO and price its shares at $17-$19, Weibo said in its prospectus, according to The New York Times. Known as a "microblog," Weibo has been compared to Twitter (TWTR). Reference Link
05:48 EDTMYGNMyriad Genetics submits premarket approval to FDA for BRACAnalysis
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April 5, 2014
19:30 EDTTWTRTwitter to launch new ad products, WSJ says
In a push to appease e-commerce companies and mobile-game developers, Twitter is planning to debut 15 types of new ad products and ways to target users over the coming six months, says the Wall Street Journal, citing sources. The first group of new adds will be released in a few weeks and will include a product that encourages users to download apps through Twitter, added the Wall Street Journal. Reference Link
April 4, 2014
17:27 EDTBXBlackstone to acquire Gates Global for $5.4B
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16:00 EDTTWTROptions Update; April 4, 2014
iPath S&P 500 VIX Short-Term Futures up 89c to 41.88. Option volume leaders: AAPL C P NFLX LNG BAC INTC TSLA TWTR according to Track Data.
11:31 EDTTWTRStocks with call strike movement; JCP TWTR
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11:07 EDTMYGNMyriad Genetics price target raised to $42 from $34 at Piper Jaffray
Piper Jaffray raised its price target for Myriad Genetics shares to $42 to reflect CMS' recent decision to increase BRCA reimbursement. The firm keeps an Overweight rating on the stock.
10:02 EDTMYGNOn The Fly: Analyst Upgrade Summary
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07:56 EDTBXBlackstone's Chae comes back to New York, Bloomberg says
Head of international private equity at Blackstone, Michael Chae, is scheduled return to New York in June after spending more than three years building the firmís business in Asia, according to Bloomberg, citing contents in an internal memo confirmed by a company spokesman. Reference Link
06:48 EDTMYGNMyriad Genetics upgraded to Buy from Neutral at Mizuho
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06:46 EDTMYGNMyriad Genetics upgraded to Buy from Neutral at Mizuho
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