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Stock Market & Financial Investment News

News Breaks
May 10, 2012
12:11 EDTKERX, PANL, INSP, NWSA, WFR, TSLA, KSS, MNST, CSCO, SGI, WIN, PCLN, SNEOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Dow higher in spite of a steep decline in shares of Cisco (CSCO) following its earning report and guidance. Stock futures rallied into positive territory during the pre-market trading session, with the move solidified by the in line jobless claims data and a rally in stock markets in Europe. U.S. equities opened higher but met resistance in the early going. The failure to push through some technical levels saw the market lose some of its steam. The averages have been generally mixed since about an hour into trading, with the Dow and S&P higher and the Nasdaq in negative territory... ECONOMIC EVENTS: In the U.S., 367,000 initial jobless claims were reported, which was basically in line with last week's figure and with consensus estimates. The U.S. trade deficit grew 14.1% to $51.83B in March, versus estimates of $50.0B. U.S. imports grew 5.2%, the biggest gain since January 2011, while U.S. exports rose 2.9% to a record $186.8B. Also, import prices decreased 0.5%, versus the expected decrease of 0.2%. In Europe, the Bank of England left its benchmark interest rate at 0.5%, as expected, and did not increase its plans for asset purchases. In China, foreign trade growth in April disappointed as exports rose only 4.9% from a year earlier, down from 8.9% in March... COMPANY NEWS: Dow component Cisco reported quarterly earnings and revenue that just beat consensus views but forecast earnings in the coming quarter below the Street's expectations. The company's pessimistic view on challenges in Europe and weakness in India resonated with investors and the stock slid nearly 10%... News Corp. (NWSA) shares gained about 5% after the company reported revenue and profit that beat expectations and it raised its stock repurchase program by $5B to $10B... Sony (SNE) projected it will swing back to profit this fiscal year on a recovery in its consumer electronics and component businesses, giving its shares a 1% boost... Among others reporting earnings, advancers included Monster Beverage (MNST) and InfoSpace (INSP); decliners included Priceline.com (PCLN), Kohl's (KSS), Universal Display (PANL) and Windstream (WIN)... MAJOR MOVERS: Among the notable gainers were Tesla Motors (TSLA), up nearly 12%, after it reported quarterly sales and losses that were worse than expected but also increased the low end of its full year revenue guidance, and Keryx Biopharmaceuticals (KERX), up more than 16%, following upgrades to Buy ratings at Ladenburg and Roth Capital, which both cited the company's Zerenex program. Noteworthy losers included Silicon Graphics (SGI), down over 27%, after projecting losses for next quarter and for the year, and MEMC Electronic (WFR), down 20%, following its report of quarterly losses that were steeper than expected... INDICES: Near noon, the Dow was up 26.83, or 0.21%, to 12,861.89; the Nasdaq was down 11.13, or 0.38%, to 2,923.58; and the S&P 500 was up 2.76, or 0.20%, to 1,357.34.
News For CSCO;NWSA;SNE;MNST;INSP;PCLN;KSS;PANL;WIN;TSLA;KERX;SGI;WFR From The Last 14 Days
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November 18, 2014
06:30 EDTSNESony upgraded to Buy from Hold at Deutsche Bank
Deutsche Bank upgraded Sony to Buy after the company gave Pictures and Music sales targets for FY17 saying it had undervalued management's strategic initiatives.
06:28 EDTSNESony targets FY17 Pictures sales $10B-$11B, Music sales $4.8B-$5.2B
Sony announced its financial targets for the Pictures and Music segments for the fiscal year ending March 31, 2018. For Pictures, Sony targets FY17 sales of $10B-$11B and operating income margin of 7%-8%. For Music, Sony targets FY14 sales of $4.8B-$5.2B and operating margin income 10.5%-11.5%. Sony also announced that it has increased its $250M in targeted overhead and procurement savings in its Pictures segment that it announced in November 2013, by $50 for a total of $300M. Sony expects the annualized savings to be fully implemented by the end of the fiscal year ending March 31, 2016. For FY15, Sony targets Pictures sales of $8.1B and Music sales of $4.8B.
05:57 EDTPCLNStocks with implied volatility below IV index mean; PCLN NFLX
Stocks with implied volatility below IV index mean; Priceline (PCLN) 22, Netflix (NFLX) 30 according to iVolatility.
November 17, 2014
17:19 EDTKERXKeryx announces trade name Auryxia for ferric citrate
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16:00 EDTTSLAOptions Update; November 17, 2014
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15:43 EDTNWSAGabelli liquidates stake in Move, Inc.
Gabelli's most recent stake, as reported on November 3, was 8.84%. As a result of the completion of the acquisition of the company by News Corp. (NWSA), Gabelli no longer has beneficial ownership of any of its shares.
14:17 EDTTSLAFord wants to make electric vehicles for the masses, Yahoo reports
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10:22 EDTSGISilicon Graphics to host analyst day
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10:02 EDTSNEOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: CyrusOne (CONE) upgraded to Buy from Hold at Stifel... MGIC Investment (MTG) upgraded to Conviction Buy from Buy at Goldman... NuVasive (NUVA) upgraded to Outperform from Market Perform at Wells Fargo... Phillips 66 (PSX) upgraded to Outperform from Neutral at Credit Suisse... Pinnacle Foods (PF) upgraded to Buy from Hold at Deutsche Bank... Rayonier (RYN) upgraded to Outperform from Sector Perform at RBC Capital.. Thoratec (THOR) upgraded to Outperform from Market Perform at Wells Fargo... Volcano (VOLC) upgraded to Outperform from Neutral at Credit Suisse... Progressive Waste (BIN) upgraded to Neutral from Underperform at Macquarie... Clean Harbors (CLH) upgraded to Outperform from Neutral at Wedbush... McGraw Hill Financial (MHFI) upgraded to Buy from Hold at Benchmark Co... Chesapeake (CHK) upgraded to Outperform from Market Perform at Bernstein... American Science & Engineering (ASEI) upgraded to Fair Value from Sell at CRT Capital... Sony (SNE) upgraded to Overweight from Equal Weight at Morgan Stanley.
09:36 EDTTSLAActive equity options trading
Active equity options trading according to Track Data: AAPL PBR BHI GILD MU HD AMZN TSLA YHOO FB TWTR
07:49 EDTKERXKeryx to host special shareholder meeting
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November 16, 2014
19:58 EDTSNEJapan's GDP contracts 1.6% in third quarter, WSJ says
Japan's economy has slumped into a recession in the third quarter as a sales tax increase resulted in firms cutting inventory and capital investment, says the Wall Street Journal. According to the Wall Street Journal report, Japan's real GDP in Q3 retreated 1.6% on an annualized basis against a median forecast for a 2.25% expansion. The setback in the country's growth will likely result in Prime Minster Shinzo Abe postponing a second sales tax increase, added the Wall Street Journal. Reference Link
14:48 EDTKERXKeryx announces results from Ferric Citrate study
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November 14, 2014
17:13 EDTPCLNAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
16:01 EDTTSLAOptions Update; November 14, 2014
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13:36 EDTTSLACLSA automotive analysts hold an analyst/industry conference call
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09:38 EDTTSLAActive equity options trading
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09:05 EDTSNENPD says U.S. video game sales down 27% in October, Bloomberg reports
U.S. retail sales of video-game hardware and software in October were nearly flat compared to the same month of last year at $790.7M, according to NPD Group, which noted that game sales fell 27% and hardware sales increased 59%, reported Bloomberg. Publicly traded companies in the space include Activision Blizzard (ATVI), Electronic Arts (EA), GameStop (GME) and Take-Two (TTWO). Game console makers include Microsoft (MSFT), Sony (SNE) and Nintendo (NTDOY). Reference Link
08:29 EDTNWSANews Corp completes acquisition of Move, Inc
News Corp announced that it has successfully completed its acquisition of Move, Inc. Move is a provider of online real estate services and operates a network of sites, including realtor.com, the official website for the National Association of Realtors. The previously announced tender offer by a subsidiary of News Corp for all of the outstanding shares of Move common stock at a price of $21.00 per share expired as scheduled at the end of the day, 12:00 midnight, New York City time, on November 13, 2014. Excluding shares tendered by notice of guaranteed delivery, a total of approximately 34,299,586 shares were validly tendered into and not withdrawn from the tender offer, representing, together with the shares owned by News Corp and its subsidiaries, approximately 83.1% of Move’s outstanding shares. As a result, News Corp, through its subsidiary, has accepted for payment and will promptly pay for all such validly tendered shares pursuant to the terms of the tender offer. Following its acceptance of the tendered shares, News Corp completed the acquisition by causing the merger of its subsidiary with and into Move without a vote of Move’s stockholders, pursuant to Section 251(h) of the Delaware General Corporation Law. Upon completion of the merger, Move became an indirect, wholly-owned subsidiary of News Corp. As a result of the merger and in accordance with the terms of the merger agreement, all eligible Move shares not tendered into the tender offer were cancelled and converted into the right to receive $21.00 per share in cash, without interest and less any applicable withholding taxes, the same price per share offered in the tender offer. As a result of the acquisition, Move shares ceased to be traded on the NASDAQ Stock Market. REA Group Limited, in which News Corp owns a 61.6% interest, has entered into a definitive agreement with News Corp to acquire a 20% stake in Move. The transaction is expected to be completed on November 17.
06:19 EDTPCLNStocks with implied volatility below IV index mean; PCLN NFLX
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