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Stock Market & Financial Investment News

News Breaks
January 2, 2013
07:10 EDTFIO, SBGI, LQDT, EXAS, IRBT, DIOD, ALOG, BCOR, SABA, SUSS, NXST, CSII, STAA, OSIS, CSTRBenchmark Co. introduces best ideas for 2013
Benchmark's top ideas for 2013 include Coinstar (CSTR) and Susser Holdings (SUSS) in Consumer/Retail, iRobot (IRBT) and OSI Systems (OSIS) in Defense & Homeland Security, Saba Software (SABA) in Enterprise Software, Exact Sciences (EXAS) and STAAR Surgical (STAA) in Healthcare Technology, Blucora (BCOR) and Liquidity Services (LQDT) in Internet, Cardiovascular Systems (CSII) and Analogic (ALOG) in Medical Devices & Outsourcing Services, Sinclair Broadcasting (SBGI) and Nexstar Broadcasting (NXST) in Publishing, Business Services & Broadcasting, and Diodes (DIOD) and Fusion-io (FIO) in Semiconductors & Equipment.
News For CSTR;SUSS;IRBT;OSIS;SABA;EXAS;STAA;BCOR;LQDT;CSII;ALOG;SBGI;NXST;DIOD;FIO From The Last 14 Days
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November 21, 2014
07:01 EDTNXSTNexstar to acquire Las Vegas CBS affiliate KLAS-TV for $145M
Nexstar Broadcasting Group (NXST) announced that it has entered into a definitive agreement to acquire the equity interests and assets of KLAS-TV, the CBS (CBS) affiliate serving the Las Vegas, Nevada market for $145M plus working capital from Landmark Media Enterprises, LLC. The proposed acquisition is expected to be immediately accretive to Nexstarís operating results immediately upon closing and inclusive of all other previously announced transactions, will expand the Companyís portfolio to 110 television stations serving 58 markets in 23 states, reaching approximately 20.3 million television households or 18% of U.S. television households. Nexstar intends to finance the station acquisition with cash generated from operations and borrowings under its senior credit facilities and/or additional capital markets activities. The transaction is subject to FCC approval and other customary approvals, and is expected to close in the first half of 2015. the acquisition, on a pro-forma basis, is expected to add an average of approximately 40c per share of free cash flow per year to Nexstarís operating results over the 2015/2016 period.
November 20, 2014
12:46 EDTLQDTOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite disappointing purchasing managers' index readings in both China and Europe. The market took its early lead from Europe and opened lower, though the major averages moved into positive territory following a trio of better than expected domestic economic reports, as the leading economic indicators, Philadelphia Fed survey, and existing home sales all beat consensus forecasts. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 2K to 291K in the week ended November 15, versus expectations for 280K first-time claims. The Consumer Prices Index was unchanged in October, versus expectations for a drop of 0.1%. The core CPI reading, which excludes food and energy, rose 0.2%, versus expectations for an increase of 0.1%. Markit's flash manufacturing PMI slipped 1.2 points to 54.7 in November, versus the consensus forecast for a 56.5 reading. Existing home sales rose 1.5% to a 5.26M rate in October, which beat expectations for a decline to a 5.15M unit rate. The index of leading indicators climbed 0.9% to 105.2 in October, beating expectations for a 0.5% increase. The Philadelphia Fed manufacturing index surged to 40.8 in November, easily topping the consensus expectation for a 18.0 reading. In Asia, the HSBC/Markit manufacturing PMI for China fell to a six-month low of 50.0 in the flash reading for November, which is down from a final reading of 50.4 in October and below the 50.3 consensus forecast. In Europe, Markit's flash eurozone PMI composite output index, which tracks surveys from both the manufacturing and services sectors, came in at 51.4 for November, which was down from 52.1 in October and represents the measure's lowest level in 16 months. COMPANY NEWS: Shares of Best Buy (BBY) advanced 7% after its third quarter profit beat estimates and it reported that its domestic same-store sales grew 3.2%. The electronics retailer also said the sales trends it is seeing as its enters the critical fourth quarter are "encouraging from a top-line perspective." MAJOR MOVERS: Among the notable gainers was Williams-Sonoma (WSM), which rose nearly 10% after the home goods retailer's third quarter results surpassed analystsí consensus estimates and the company raised its fiscal 2014 outlook. Also higher following its own "beat and raise" quarterly report was Kirkland's (KIRK), which advanced 18%. Among the noteworthy losers was Liquidity Services (LQDT), which dropped 9% after its fourth quarter earnings missed expectations and the company said it will no longer give yearly guidance. Also lower was Keurig Green Mountain (GMCR), which dropped 6% after its first quarter profit outlook fell short of analystsí consensus estimates and the company's Chief Financial Officer announced plans to depart. INDEXES: Near midday, the Dow was up 7.84, or 0.04%, to 17,693.57, the Nasdaq was up 22.08, or 0.47%, to 4,697.80, and the S&P 500 was up 3.01, or 0.15%, to 2,051.73.
07:24 EDTEXASGoldman to hold a conference
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07:03 EDTIRBTiRobot initiated with a Buy at Canaccord
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07:02 EDTLQDTLiquidity Services suspends yearly guidance
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06:59 EDTLQDTLiquidity Services sees 1Q15 adjusted EPS 16c-22c, consensus 25c
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06:56 EDTLQDTLiquidity Services reports Q4 adjusted EPS 13c, consensus 15c
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November 18, 2014
12:26 EDTBCORBlucora management to meet with Sidoti
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10:15 EDTIRBTHigh option volume stocks
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November 17, 2014
10:50 EDTCSIICardiovascular Systems management to meet with Needham
Meetings to be held in Southern California November 18-19 hosted by Needham.
November 14, 2014
09:38 EDTIRBTJANA Partners gives quarterly update on stakes
NEW STAKES: AMD (AMD), AECOM Technology (ACM), Alibaba (BABA), McDonald's (MCD), Amgen (AMGN), Gaming and Leisure Properties (GLPI), Iron Mountain (IRM), iRobot (IRBT), Seadrill Partners (SDLP), Valeant (VRX). INCREASED STAKES: eBay (EBAY), Charter (CHTR), Groupon (GRPN), HD Supply (HDS), Hertz (HTZ). DECREASED STAKES: Apache (APA). LIQUIDATED STAKES: CBS (CBS), Endo (ENDP), FMC Corporation (FMC), SeaWorld (SEAS), SunEdison (SUNE).
07:37 EDTNXSTLocal media ad market looks positive, says Wells Fargo
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November 13, 2014
14:30 EDTNXSTRoystone Capital reports 6.03% passive stake in Nexstar
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12:21 EDTOSISOSI Systems management to meet with Benchmark Co.
Meetings to be held in Chicago on November 19 and in Minneapolis on November 20 hosted by Benchmark Co..
November 11, 2014
11:01 EDTSBGISinclair Broadcast promotes Delbert Parks to Chief Technology Officer
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November 7, 2014
07:10 EDTNXSTNexstar to generate pro-forma cash flow in excess of $365M in FY14, FY15 cycle
The company said, ďLooking ahead, with distribution agreements representing approximately 60% of Nexstarís MVPD subscribers renewed in FY13 and by FY14 year-end, and another 25% of Nexstarís subscriber households up for renewal in FY15, we project visible ongoing revenue growth from this source in FY15 and beyond. Similarly, digital media revenue growth in the remainder of 2014 and in 2015 will further benefit from our recent accretive acquisitions of Internet Broadcasting Systems and Enterprise Technology Group. These strategic additions to Nexstarís existing digital platform and agency capabilities have expanded Nexstarís digital business portfolio to over $50M in annual run rate revenues. As such, inclusive of the two recently announced station transactions and assuming the completion of all other announced transactions, Nexstar would generate pro-forma free cash flow in excess of $365 million during the 2014/2015 cycle, or average pro-forma free cash flow in excess of $6.00 per share per year. Our current operations alone are tracking to generate blended free cash flow of approximately $4.50 per share per year in the current FY14, FY15 period and with just the free cash flow generated from this base of operations, we expect Nexstarís net leverage to decline to approximately 4.0x at the end of FY14.Ē
07:08 EDTNXSTNexstar reports Q3 EPS 48c, consensus 49c
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07:07 EDTNXSTNexstar to acquire assets of KCWI-TV for $3.5M
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