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Stock Market & Financial Investment News

News Breaks
May 10, 2012
16:47 EDTCSCO, NWSA, TSLA, MNST, ARX, AMAGOn 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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August 7, 2014
14:16 EDTAMAGJames Flynn reports 5.99% passive stake in AMAG Pharmaceuticals
12:00 EDTMNSTMonster Beverage technical comments ahead of results
In the prior three months the shares have traded flat, within a trading range largely bound by $66 at the low and $71 at the high. These two boundaries give us some clues as to where share price may go after earnings. At time of writing the stock is marginally below the low end of the range. In the event of strongly bearish news or guidance, support will already have been broken. Support levels below that could become additional downside objectives on a scale of increasingly negative results are at $63.27, $61.59, and $59.85. On better than expected results, the following resistance levels could become upside objectives: $67.81, $71, and $73.25. A breakout above $71 would at a minimum be required to break the shares out of an essentially neutral price mode. A break well below $65 would be needed to turn the trend decisively bearish. The short-base is neutral, which may make post-earnings downside moves larger than average in the absence of short-covering buy pressure.
09:36 EDTTSLAActive equity options trading on open
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06:07 EDTTSLATesla implied volatility of 40 at lower end of index mean range
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August 6, 2014
16:01 EDTTSLAOptions Update; August 7, 2014
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13:57 EDTTSLATesla appoints Robyn Denholm as first woman on its board
Tesla (TSLA) announced that Robyn Denholm has been appointed to its board, effective August 11. Denholm has also been appointed to chair the company’s audit committee and be a member of the compensation and nominating and corporate governance committees. These roles were previously filled by Brad Buss, who is vacating his committee positions upon joining SolarCity (SCTY) as its CFO. Buss will remain a member of Tesla’s board. Denholm joined Juniper Networks (JNPR) in 2007 and currently serves as its executive VP, CFO, and COO.
13:41 EDTNWSAEarnings Preview: Fox withdraws Time Warner offer prior to Q4 earnings
21st Century Fox (FOXA, FOX) is scheduled to report fourth quarter earnings after the market close on Wednesday, August 6, with a conference call scheduled for 4:30 pm ET. 21st Century Fox is a media company that operates the cable, broadcast, and film assets formerly bundled under the News Corp. (NWSA) umbrella. EXPECTATIONS: Analysts are looking for EPS of 38c on revenue of $7.99B, according to First Call. The consensus range for EPS is 36c-41c on revenue of $7.59B-$8.54B. LAST QUARTER: Fox reported third quarter adjusted EPS of 47c on revenue of $8.22B, which compared to estimates for earnings of 35c on revenue of $7.99B, respectively. Fox reported Q3 cable network revenue of $3.15B and filmed entertainment revenue of $2.28B. Fox reported that its Q3 television revenue was $1.59B. COMPANY NEWS: On June 10, Fox said in a filing that president and COO Chase Carey agreed to a two-year contract extension. On June 16, Both Time Warner (TWX) and Fox confirmed an earlier CNBC report that Time Warner rejected an $80B takeover offer from Fox. Time Warner said it turned down Fox's offer to acquire all of the outstanding shares of the company for a combination of 1.531 of Fox Class A non-voting common shares and $32.42 in cash per share. Time Warner added that its board is confident that continuing to execute its strategic plan will "create significantly more value for the company and its stockholders and is superior to any proposal that Fox is in a position to offer." 21st Century Fox also confirmed that it made a formal proposal to Time Warner, which was rejected, and added that the companies are not currently in any discussions. On August 5, however, Fox announced that it has withdrawn its proposal to acquire Time Warner. Chairman and CEO Rupert Murdoch commented: "We viewed a combination with Time Warner as a unique opportunity to bring together two great companies, each with celebrated content and brands. Our proposal had significant strategic merit and compelling financial rationale and our approach had always been friendly. However, Time Warner management and its Board refused to engage with us to explore an offer which was highly compelling. Additionally, the reaction in our share price since our proposal was made undervalues our stock and makes the transaction unattractive to Fox shareholders. These factors, coupled with our commitment to be both disciplined in our approach to the combination and focused on delivering value for the Fox shareholders, has led us to withdraw our offer." On July 25, Fox announced that it transferred Sky Italia and its 57.4% interest in Sky Deutschland to BSkyB to create a pan-European digital television leader through the combination of these assets. In exchange for the transfer, Fox will receive approximately $9.3B in value from BSkyB comprised of approximately $8.6B in cash and BSkyB’s 21% interest in National Geographic Channels International, raising Fox’s ownership stake to 73%. In addition, Fox participated in BSkyB’s announced equity offering by purchasing approximately $900M of additional shares in BSkyB to maintain the company’s 39.1% ownership interest. The net, after-tax cash proceeds to be received by Fox upon completion of all the elements of this transaction approximated $7.2B. STREET RESEARCH: Wall Street research had been quiet on Fox during the quarter. On July 1, Goldman Sachs downgraded Fox to Buy from Conviction Buy after cutting its rating on the U.S. Entertainment sector to Neutral from Attractive. Right after the company confirmed its Time Warner takeover offer, ISI Group downgraded Fox to Buy from Strong Buy and removed shares from the Top Picks list following news of its buyout bid for the firm. Cowen downgraded Fox to Market Perform from Outperform on July 23. PRICE ACTION: Since the first day of trade following its Q3 report, shares of Fox are roughly unchanged. In afternoon trading ahead of its Q4 report, Fox is up more than 4.6%.
12:31 EDTTSLATesla rallies after analyst starts coverage with $316 price target
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11:06 EDTTSLATesla spikes higher, levels to watch
Shares were last up 3.4% to $246.71. At that price next resistance is at $247.88, the session high, and then at $250.56. Support is at $244.81.
10:43 EDTTSLATesla shares rise, levels to watch
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10:00 EDTTSLAOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Burlington Stores (BURL) initiated with a Neutral at Sterne Agee... EZchip (EZCH) initiated with an Outperform at Imperial Capital... FIS (FIS) initiated with a Buy at Monness Crespi... Fiserv (FISV) initiated with a Buy at Monness Crespi... Michaels Stores (MIK) initiated with a Buy at Deutsche Bank... Nordson (NDSN) initiated with a Market Perform at Wells Fargo... PepsiCo (PEP) initiated with a Reduce at Nomura... Restoration Hardware (RH) coverage assumed with an Outperform at Avondale... RingCentral (RNG) initiated with an Outperform at Oppenheimer... ServiceMaster (SERV) initiated with a Buy at BofA/Merrill... Tesla (TSLA) initiated with an Outperform at Pacific Crest... Under Armour (UA) initiated with a Fair Value at CRT Capital.
10:00 EDTMNSTOn The Fly: Analyst Downgrade Summary
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09:36 EDTTSLAActive equity options trading on open
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08:24 EDTCSCOCisco outlook better than most investors expect, says Cowen
Cowen believes Cisco's intermediate and long-term outlook is better than most investors fear. The firm sees an ongoing attractive risk/reward for the stock, citing expectations for improved margins, improvement in all key metrics, and a view that the SDN risk is overstated. The firm has an Outperform rating with a $30 price target on Cisco.
07:11 EDTMNSTMonster Beverage downgraded at CLSA
As previously reported, CLSA downgraded Monster to Underperform from Outperform and cut the price target to $70 from $86. The firm said top-line growth has been below expectations in the US market, comps get more difficult the rest of the year, and valuation as full.
07:06 EDTMNST, MNSTMonster Beverage downgraded to Underperform from Outperform at CLSA
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06:43 EDTTSLATesla finds solution for China trademark disagreement, Reuters says
Tesla Motors said it has "completely and amicably" found a solution to a trademark dispute against Chinese businessman Zhan Baosheng, getting rid of an obstacle that had foreshadowed CEO Elon Musk's target to broaden quickly in the globe's largest car market, according to Reuters, citing an e-mailed statement from the U.S. electric vehicle manufacturer. Reference Link
06:22 EDTAMAGJefferies to hold a summit
Boston Healthcare Summit to be held in Boston on August 6.
06:12 EDTCSCOCisco August volatility elevated into Q4 and outlook
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05:47 EDTTSLATesla initiated with an Outperform at Pacific Crest
Pacific Crest started shares of Tesla Motors (TSLA) with an Outperform rating saying the premium investors are willing to pay for the stock is likely to go higher due to healthy demand trends, achievable near-term targets and an underappreciated growth trajectory into 2016. The firm set a $316 price target for Tesla shares, which closed yesterday down 3c to $238.49.
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