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Stock Market & Financial Investment News

News Breaks
December 30, 2013
12:19 EDTMYGN, CROX, NQ, TWTR, BXOn The Fly: Midday Wrap
Stocks on Wall Street opened in quiet fashion and have remained that way throughout the morning. There was little reaction to the dayís economic reports, which included a lower than expected pending home sales report and a generally in-line survey on manufacturing in the Dallas area. The averages have been mostly mixed, with the Dow in positive territory, the Nasdaq lower, and the S&P hugging the flat line during the early part of the session. 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: One of the day's big winners is footwear maker Crocs (CROX), which rose 20% after the company announced a financial partnership with private equity firm Blackstone (BX). Blackstone will buy $198 million of convertible preferred stock in the company, 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, has resigned. MAJOR MOVERS: Among the notable gainers was NQ Mobile (NQ), which jumped 21% after Morgan Stanley (MS) disclosed a 5.2% passive stake in the Chinese mobile Internet service provider. Myriad Genetics (MYGN) sunk 15% 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 5% near noon after having declined about 13% last Friday. INDEXES: Near noon, the Dow was up 7.66, or 0.05%, to 16,486.07, the Nasdaq was down 3.92, or 0.09%, to 4,152.68, and the S&P 500 was down 1.09, or 0.06%, to 1,840.31.
News For CROX;BX;NQ;MYGN;TWTR From The Last 14 Days
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April 8, 2014
09:16 EDTTWTRTwitter announces redesign of profile pages
Twitter announced on its blog a redesign of profile pages. Twitter says, "The new web profile lets you use a larger profile photo, customize your header, show off your best Tweets and more. Tweets that have received more engagement will appear slightly larger, so your best content is easy to find. Pin one of your Tweets to the top of your page, so itís easy for your followers to see what youíre all about. Now you can choose which timeline to view when checking out other profiles. Select from these options: Tweets, Tweets with photos/videos, or Tweets and replies." Reference Link
09:09 EDTTWTROn The Fly: Pre-market Movers
HIGHER: BioScrip (BIOS), up 6.7% after stock was named as a stock pick and a potential takeover target by Oscar Schafer while speaking on CNBC... Nokia (NOK), up 5% after deal to sell substantially all of its Devices & Services business to Microsoft (MSFT) receives regulatory approval in China... (CTRP), up 4.6% after Bloomberg said, citing sources, that the company is in talks with Baidu-controlled (BIDU) Qunar (QUNR) about a partnership or a potential merger... Plug Power (PLUG), up 4.6% after CEO discusses plan to expand fuel cells to trucks in interview... FireEye (FEYE), up 2.5% following upgrade at Wedbush... Twitter (TWTR), up 2% following initiation of coverage with a Buy rating at at Janney Capital... Nike (NKE), up 1.75% after upgraded at Stifel. LOWER: Gigamon (GIMO), down 23% after lowering revenue outlook, shares downgraded at Pacific Crest... LivePerson (LPSN), down 3% after announcing resignation of EVP, Worldside Sales, shares downgraded at Benchmark... Cisco (CSCO), down 0.5% following downgrade to Hold from Buy at Wunderlich.
08:33 EDTNQNQ Mobile April volatility elevated at 163 into Q4
NQ Mobile April call option implied volatility is at 163, May is at 137, June is at 125, August is at 107; compared to its 26-week average of 111 according to Track Data, suggesting large near term price movement into the expected release of Q4 results on April 11.
07:56 EDTBXKKR latest PE firm to increase focus on fast-growing tech, FT says
KKR (KKR), following in the recent steps of private equity peers Blackstone (BX), CVC Capital Partners and TPG, is bolstering its technology team and is considering a specialist fund to invest in fast-growing tech companies, reported Financial Times. 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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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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