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May 10, 2012
16:47 EDTAMAG, TSLA, ARX, NWSA, MNST, CSCOOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, as a disappointing outlook from Cisco (CSCO) and continued worries about Europe weighed on the averages. Stock futures moved higher following the in line jobless claims data, leading to a higher open for the broader market. The market met resistance at the open and began to pullback before making a second run at the resistance level. After failing a second time the market began to give up its gains, with the Nasdaq falling into negative territory. By the afternoon the market had strengthened and once again all three of the major equity indices were above the flat line. However, at the close the Nasdaq was back in the red, barely preventing the big three from ending positive for the first time in several days… ECONOMIC EVENTS: In the U.S., 367,000 initial jobless claims were reported, basically falling 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. Also, the U.S. Treasury posted a $59.1B budget surplus for April, versus expectations of a surplus of $35B. In Europe, some fears about Spain's banking system eased after its government said it will nationalize the country's fourth-largest bank... COMPANY NEWS: 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 more than 10%... News Corp. (NWSA) shares gained close to 5% after the company reported revenue and profit that beat expectations and it raised its stock repurchase program by $5B to $10B... MAJOR MOVERS: Among the notable gainers were Tesla Motors (TSLA), up $2.90, or 9.65%, to $32.96, 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 Monster Beverage (MNST), up $5.86, or 8.97%, to $71.17, after the energy-drink maker reported Q1 results that exceeded expectations, with volume and gross margin increasing. Noteworthy losers included Aeroflex Holding (ARX), down $2.44, or 25.39%, to $7.17, after missing on Q3 EPS and revenue and making Q4 predictions that fell well short of analyst estimates, and AMAG Pharma (AMAG), down $2.35, or 14.67%, to $13.67, after the company named a new CEO and indicated it would stop seeking to sell itself... INDICES: The Dow gained $19.98, or 0.16%, to $12,855.04; the Nasdaq fell $1.07, or 0.04%, to $2,933.64; and the S&P 500 added $3.41, or 0.25%, to $1,357.99.
News For CSCO;NWSA;TSLA;MNST;ARX;AMAG From The Last 14 Days
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November 20, 2015
12:34 EDTTSLATesla November 215 and 220 puts active following Model S seatbelt recall
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12:14 EDTTSLATesla drops 2% following Model S seatbelt recall
According to multiple media reports, Tesla Motors is recalling all Model S sedans, or 90,000 cars worldwide, to inspect their front seat belts after a a customer in Europe reported that her seat belt disconnected when she turned to talk to rear passengers. Seat belts in the back seat also aren't affected and the the Model X SUV is not affected either. Shares of Tesla are down 2% to $217.26 in early afternoon trading following the news.
12:08 EDTTSLATesla down over 2% after reports of Model S recall
12:08 EDTTSLATesla recalling 90K Model S cars to check seatbelts, Bloomberg says
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09:25 EDTTSLATesla CEO says Autopilot ramp up a 'super high priority'
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08:04 EDTCSCOCisco announces intent to acquire Acano for $700M in cash, assumed equity awards
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08:03 EDTCSCOCisco announces intent to acquire Acano for $700M in cash, assumed equity awards
06:13 EDTCSCOTechnicolor completes $600M Cisco Connected Devices acquisition
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November 19, 2015
12:19 EDTAMAGOn The Fly: Top stock stories at midday
Stocks have struggled for direction since the open and spent the morning moving in a narrow range. The Dow has held up fairly well considering the weakness seen in UnitedHealth (UNH), which has declined after the insurer cut its fiscal 2015 profit guidance, citing weakness in individual health insurance policies it markets through exchanges. Oil prices remain under pressure, with benchmark U.S. crude trading back below $42 per barrel. ECONOMIC EVENTS: In the U.S., initial jobless claims continued to hover around four-decade lows, with 271,000 first-time claims filed in the week ended November 14. The Philly Fed index rose 6.4 points to 1.9 in November, better than the forecast for a -0.5 reading. In Europe, minutes from the most recent European Central Bank policy meeting showed that some participants called for more stimulus amid deflation risks, weak oil prices and a sluggish recovery in the euro-area. In Asia, the Bank of Japan maintained its current pace of monetary stimulus, as widely expected. COMPANY NEWS: The shares of health insurer UnitedHealth and a number of other companies in the sector are falling after the Dow member lowered its profit outlook for this fiscal year, citing weakness in individual health insurance policies it markets through exchanges. UnitedHealth said it has pulled back on its marketing efforts for individual exchange products in 2016 and is "evaluating the viability of the insurance exchange product segment." Near noon, UnitedHealth fell about 5%, while Aetna (AET) declined nearly 6%, Humana (HUM) droped more than 3.5%, Anthem (ANTM) declined over 6% and Cigna (CI) slid 4%... Press reports indicate that talks between Pfizer (PFE) and Allergan (AGN) are heating up and that a deal is nearing, but simultaneously the U.S. government's rhetoric around the type of "inversion" deal the two pharmaceutical giants are discussing is getting ratcheted up as well. Last night, Bloomberg reported that Pfizer is nearing an agreement to acquire Allergan for $370 to $380 per share, citing people familiar with the matter. The two companies are aiming to announce a deal as early as Monday, sources told the publication. However, CNBC's David Faber reported, citing sources, that a deal will not be announced on Monday, but Pfizer and Allergan are in the "final innings" of merger talks. The deal will consist of all stock and Pfizer is likely to offer 11-plus shares per Allergan share, Faber noted. Amid the reports, Treasury Secretary Jacob Lew said that his department will release "targeted guidance" later this week meant to "deter and reduce further the economic benefits of corporate inversions" like the one being contemplated by the drugmakers... Square (SQ) completed its initial public offering of stock and rose about $4 per share to trade near $13 around noon after pricing last night at $9 per share. CEO Jack Dorsey, who leads both Square and Twitter (TWTR) as CEO, said in an interview following the opening that the teams behind him make him able to simultaneously hold both positions. Twitter rose about 1.4% to $26.25 in midday trading following Square's entry to the public markets. MAJOR MOVERS: Among the notable gainers was Keurig Green Mountain (GMCR), which rallied 22% after it reported better than expected quarterly earnings and guided for fiscal 2016. Also higher was (CTRP), which gained 19% after no fewer than three analysts raised their price target on the company's stock following upbeat fourth quarter earnings. Among the noteworthy losers was Kirkland's (KIRK), which fell 30% after the company reported downbeat quarterly earnings and provided lower than expected guidance. Also lower was AMAG Pharmaceuticals (AMAG), which lost over 8.5% after it received a complete response letter from the FDA for a single-dose vial of Makena, a treatment to reduce the risk of preterm birth in at-risk patients. In addition, Best Buy (BBY) fell 3% after it reported better than expected third quarter earnings but worse than expected same-store sales growth and also guided toward "near-flat" revenue for its domestic business in the holiday quarter. INDEXES: Near midday, the Dow was down 17.44, or 0.1%, to 17,719.72, the Nasdaq was up 2.36, or 0.05%, to 5,077.57, and the S&P 500 was down 3.67, or 0.18%, to 2,079.91.
09:16 EDTAMAGOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Keurig Green Mountain (GMCR), up 19%... (CTRP), up 11.8%... (CRM), up 5.4%... Perry Ellis (PERY), up 4%. ALSO HIGHER: Celladon (CLDN), up 55.9% after signing a merger agreement with Eiger BioPharmaceuticals... StemCells (STEM), up 45.7% after Phase II Pathway Study data shows motor improvement in SCI patients... UniPixel (UNXL), up 36.1% after receiving an initial mass production order from a Japanese PC manufacturer... Anavex Life Sciences (AVXL), up 16% after announcing preparation of regulatory filings based on guidance from FDA... Plug Power (PLUG), up 3.7% after securing Colruyt Group as its next GenDrive fuel cell customer in Europe. DOWN AFTER EARNINGS: Stage Stores (SSI), down 14.7%... JinkoSolar (JKS), down 7.5%... Best Buy (BBY), down 5.2%... Semtech (SMTC), down 7.5%. ALSO LOWER: AMAG Pharmaceuticals (AMAG), down 8.4% after receiving a complete response letter from the FDA its application seeking approval for a single-dose vial of Makena... Titan International (TWI), down 8.3% after being downgraded to Sell from Neutral at Goldman... Sunedison (SUNE), down 5.5% after Reuters reported that Blackstone (BX) is not interested in SunEdison investment.
05:54 EDTCSCOCisco implied volatility of 18 at lower end of index mean range
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November 18, 2015
17:44 EDTAMAGAMAG Pharmaceuticals receives CRL from FDA for single-dose vial of Makena
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09:32 EDTTSLAThe House Oversight & Government Reform Committee to hold a hearing
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08:11 EDTTSLAMusk, Silver Lake investing over $100M in SolarCity, NY Times reports
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07:59 EDTCSCOUBS to hold a conference
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06:28 EDTTSLATesla Model 3 will minimize wind resistance, Electrek reports
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November 17, 2015
16:01 EDTCSCOOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
11:20 EDTTSLATesla in talks with Germany over battery factory, Bloomberg reports
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November 16, 2015
09:37 EDTTSLAActive equity options trading on open
Active equity options trading on open: AAPL FB ORCL BAC SUNE FDX FCX EXPE NFLX MU AMZN INTC TSLA
05:26 EDTCSCOEricsson CEO says no talks with Cisco about merger or acquisition
Ericsson (ERIC) has noted the recent speculation in the press and financial markets regarding an interest by Cisco (CSCO) to acquire Ericsson. On November 9, the two companies announced a global business and technology partnership to create the networks of the future. The partnership announcement was supported by multiple agreements that include commitments to network transformation through reference architectures and joint development, systems-based management and control, a broad reseller agreement, and collaboration in key emerging market segments. President, CEO and member of the board, Hans Vestberg says: "We note that there are rumors in the market regarding an acquisition of Ericsson by Cisco possibly spurred by the recent announcement of a partnership between our two companies. The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or an acquisition."
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