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Stock Market & Financial Investment News

News Breaks
June 12, 2013
16:20 EDTCTB, GT, LYV, ULTA, HMA, BIIB, VODOn The Fly: Closing Wrap
Stocks on Wall Street were lower despite opening sharply higher as the market looked to avoid its first three day losing streak of the year. Downside momentum quickly took hold however, and the averages moved steadily lower through the session, moving to their lows in the final hour of trading but finishing just off those levels. ECONOMIC EVENTS: In the U.S., the MBA's purchase applications composite index rose 5.0% for the week. The U.S. posted a $139B May budget deficit against expectations for a $130B deficit, and compared to a $124.6B deficit a year ago. In Europe, factory production in the 17-nation euro area rose 0.4% in April from March, compared to expectations for it to remain unchanged. COMPANY NEWS: Cooper Tire (CTB) agreed to be acquired by India's Apollo Tyres for $35.00 per share in cash, or $2.5B. Cooper shares surged $10.10, or 41.12%, to $34.66 to trade near $34.50 following the deal announcement, while peer Goodyear Tire (GT) advanced about 33c, or 2.26%, to $14.93... Live Nation (LYV) shares gained $2.33, or 16.84%, to $16.17 after the company announced it prevailed in an arbitration ruling related to a ticketing license software agreement... MAJOR MOVERS: Among the notable gainers was Ulta Salon (ULTA), up $12.51, or 14.87%, to $96.64 following its quarterly earnings report. Also higher was Health Management (HMA), up $1.58, or 11.34%, to $15.51 after Glenview Capital said in a filing it is seeking to repeal a provision that prevents entities from holding more than 15% of the company's stock and saying it would look to nominate candidates to the company's board. Among noteworthy losers was Biogen (BIIB), down $16.48, or 7.39%, to $206.55 after the stock was downgraded to Neutral from Buy at Citigroup, which cited concerns that EU medical regulators are unlikely to approve the company's multiple sclerosis treatment. Also lower were U.S.-listed shares of Vodafone (VOD), down 71c, or 2.47%, to $28.12 after the company confirmed it approached Kabel Deutschland about a possible deal. INDICES: The Dow was down 126.79, or 0.84%, to 14,995.23; the S&P 500 was down 13.61, or 0.84%, to 1,612.52; the Nasdaq was down 36.52, or 1.06%, to 3,400.43.
News For CTB;GT;LYV;ULTA;HMA;BIIB;VOD From The Last 14 Days
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October 22, 2014
13:38 EDTBIIBBiogen price target lowered to $386 from $420 at Piper Jaffray
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12:21 EDTBIIBBiogen upgraded to Outperform from Neutral at RW Baird
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12:09 EDTBIIBOn The Fly: Midday Wrap
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11:38 EDTBIIBBiogen retreats after Tecfidera sales miss, patient death reported
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11:01 EDTBIIBBiogen trading lower on slower growth, PML case, says Deutsche Bank
Deutsche Bank attributes the pullback in shares of Biogen (BIIB) to slower sequential revenue growth and the one PML case with Tecfidera disclosed on today's earnings call. Deutsche believes investors are now favoring Celgene (CELG) over Biogen due to near term headline risks. The firm says it likes Celgene more as well due its pipeline, but keeps a Buy rating on Biogen.
10:46 EDTBIIBBiogen shares defended at Morgan Stanley
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10:42 EDTBIIBBiogen shares defended at Deutsche Bank
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09:46 EDTBIIBBiogen falls, levels to watch
The shares are down sharply following Q3 results and a guidance boost for FY14, At the current price of $294.96, shares are lower by 9.8%. Support is at the session low at $290.94. Resistance is at $299.71.
09:21 EDTBIIBOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Dow Chemical (DOW), up 3.7%... iRobot (IRBT), up 12%... Six Flags (SIX), up 13%... GlaxoSmithKline (GSK), up 2%... Broadcom (BRCM), up 7%... Boston Scientific (BSX), up 4.3%... Abbott (ABT), up 1.8%... Yahoo! (YHOO), up 6%. ALSO HIGHER: Blue Earth (BBLU), up 26.4% after CEO says statements in Seeking Alpha blog are "false and misleading."... GW Pharmaceuticals (GWPH), up 5.4% after Epidiolex receives orphan designation from EMA. DOWN AFTER EARNINGS: 3D Systems (DDD), down 15%... Biogen (BIIB), down 7%... Lumber Liquidators (LL), down 13.4%... Norfolk Southern (NSC), down 3%... Angie's List (ANGI), down 8.8%. ALSO LOWER: Nanosphere (NSPH), down 33% after filing secondary, reporting preliminary Q3 revenue... Himax Technologies (HIMX), down 16% after announcing that Google (GOOG) will not exercise an additional investment option in the company... Cree (CREE), down 10.5%, downgraded at DA Davidson and Canaccord following the company's Q1 earnings results... Ocwen Financial (OCN), down 7% after downgraded to Hold at Evercore, downgraded to Neutral at BofA Merrill Lynch... VMware (VMW), down 7.8%, downgraded at Nomura and Raymond James following the company's Q3 results.
09:12 EDTBIIBBiogen down 6% after Q3 report, disclosure of patient death
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08:31 EDTGTGoodyear Tire to begintesting US trucking fleets
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07:08 EDTBIIBBiogen reports Q3 TECFIDERA revenues $787M
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07:03 EDTBIIBBiogen raises FY14 adjusted EPS view to $13.45-$13.55, consensus $13.10
Still sees revenue growth 38%-41% vs. 2013, consensus $9.69B. $&D expense is expected to be approximately 20% to 21% of total revenue.
07:02 EDTBIIBBiogen reports Q3 adjusted EPS $3.80, consensus $3.46
Reports Q3 revenue $2.51B, consensus $2.48B.
October 21, 2014
15:35 EDTBIIBNotable companies reporting before tomorrow's open
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06:54 EDTBIIBBiogen October weekly volatility elevated into Q3 and outlook
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October 20, 2014
09:36 EDTVODActive equity options trading on open
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07:32 EDTBIIBCubist names Perez CEO to succeed Bonney
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October 17, 2014
06:22 EDTGTStocks with implied volatility above IV index mean; GT AMZN
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October 16, 2014
06:46 EDTGTGoodyear Tire removed from short-term buy list at Deutsche Bank
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