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Stock Market & Financial Investment News

News Breaks
July 30, 2013
12:45 EDTIPI, COH, AET, PBI, MOS, AGU, MRK, OSK, HMA, POT, HLF, PFE, WU, CYHOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as a report on rising home prices along with some better than expected earnings reports supported the market. The second quarter earnings season, which is reaching its peak this week, may not be turning out to be as bad as some had feared. However, the week's biggest events may still be yet to come, as investors brace for tomorrow's conclusion of the Fedís two day FOMC meeting, along with the latest monthly jobs report, due Friday. ECONOMIC EVENTS: In the U.S., the S&P/Case-Shiller 20-city home-price index was up 12.2% from the prior year and was up about 1.0% from the prior month in May, which was close to in line with forecasts. The consumer confidence index for July fell to 80.3, which was a bit worse than the expectation for it to slip just slightly from its prior reading of 81.4. COMPANY NEWS: Several of the day's worst performing stocks were fertilizer companies after Russian potash producer Uralkali ended its cooperation with Belarus' Belaruskali. Following the news, Potash (POT) tumbled 20%, Mosaic (MOS) plunged 19%, Intrepid Potash (IPI) plummeted 30%, and Agrium (AGU) dropped nearly 5%... Among several notable healthcare names to announce quarterly results this morning, Pfizer (PFE) performed the best, rising almost 1% following its report. Its peer, Merck (MRK), slid about 1% after its own report, while health insurer Aetna (AET) was little changed in midday trade. MAJOR MOVERS: Among the notable gainers following their earnings reports were Oshkosh (OSK), up 12%, Pitney Bowes (PBI), up 11%, and Western Union (WU), up 9%. Shares of multi-level marketer Herbalife (HLF) also rose over 4% following its report in spite of new questions from Bill Ackman's Pershing Square, which has a very large and well documented short position in the stock. Among the noteworthy losers was upscale accessories maker Coach (COH), which fell more than 7% after the company reported mixed fourth quarter results, announced the departure of two senior executives, and agreed to sell its Reed Krakoff business. Also lower were shares of hospital chain Health Management Associates (HMA), which fell 11% after Community Health (CYH) agreed to buy the company for the equivalent of about $13.78 per share plus possible future considerations based on the outcome of certain legal matters. INDICES: Near noon, the Dow was up 10.37, or 0.07%, to 15,532.34; the Nasdaq was up 23.81, or 0.66%, to 3,622.95; and the S&P 500 was up 3.18, or 0.19%, to 1,688.51.
News For CYH;HMA;PBI;WU;OSK;AET;PFE;MRK;COH;HLF;AGU;IPI;POT;MOS From The Last 14 Days
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January 22, 2015
05:55 EDTHLFStocks with implied volatility above IV index mean; TWC HLF
Stocks with implied volatility above IV index mean; Time Warner Cable (TWC) 41, Herbalife (HLF) 114 according to iVolatility.
January 21, 2015
12:30 EDTPFEGlaxoSmithKline 'admired' by Pfizer CEO, FT reports
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12:02 EDTHLFUBS reports 6.4% passive stake in Herbalife
10:16 EDTMRKLeerink biopharma analysts hold an analyst/industry conference call
Analyst Fernandez, along with Dr. Paul Gurbel and Dr. Richard Becker, discuss AstraZeneca's PEGASUS trial and the current use of Brilinta and dual antiplatelet therapy for prevention of CV disease and implications of the recently completed DAPT trial on an Analyst/Industry conference call to be held on January 21 at 1:30 pm.
10:01 EDTOSKOn the Fly: Analyst Initiation Summary
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10:01 EDTAGUOn The Fly: Analyst Downgrade Summary
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09:08 EDTAGUAgrium downgraded to Hold from Buy at Miller Tabak
08:02 EDTMRKMerck completes tender offer to acquire Cubist
Merck (MRK) announced the successful completion of the tender offer for all of the outstanding shares of common stock of Cubist Pharmaceuticals (CBST) at a purchase price of $102.00 per share. As of the tender offer expiration yesterday, 58,039,667 shares of common stock of Cubist were validly tendered and not properly withdrawn from the tender offer, representing approximately 75.7% of the outstanding common stock of Cubist on a fully diluted basis. All of such shares have been accepted for payment in accordance with the terms of the tender offer, and Merck expects to promptly pay for all such shares. Following consummation of the tender offer, Merck expects to complete the acquisition of Cubist later today through a merger of Merckís wholly owned subsidiary with and into Cubist without stockholder approval. Upon completion of the merger, all outstanding shares of common stock of Cubist, other than shares held by Cubist in treasury or shares held by Cubistís stockholders who are entitled to and properly exercise appraisal rights under Delaware law, will be canceled and converted into the right to receive cash equal to the $102.00 offer price per share without interest, less any applicable withholding taxes. In addition, upon completion of the merger, Cubist will become a wholly owned subsidiary of Merck and the common stock of Cubist will cease to be traded on the NASDAQ Stock Market.
07:39 EDTOSKOshkosh initiated with a Neutral at Susquehanna
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05:56 EDTHLFStocks with implied volatility above IV index mean; TWC HLF
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January 20, 2015
17:18 EDTMRKDana Holding to replace Cubist in S&P 400 as of 1/22 close
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08:26 EDTAGU, POT, MOSAgrium preferred over Potash, Mosaic at Canaccord
Canaccord said they prefer Agrium (AGU) over both Potash (POT) and Mosaic (MOS). Mosaic raised its guidance due to its phosphate business, but with a lack of catalysts expected in the potash market in 2015 the firm continues to see solid growth volume, increasing nitrogen margins, and free cash flow expansion for Agrium. Canaccord maintains its Buy rating on Agrium and its Hold rating on both Mosaic and Potash shares.
07:28 EDTWUTreasury Institute for Higher Education to hold a symposium
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07:23 EDTMRKMerck funding testing of lower dosages of Zilmax, Reuters reports
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07:18 EDTCYHCommunity Health sees Q4 EPS $1.23, consensus $1.20
Sees Q4 net operating revenue approx. $4.9B, consensus $5.06B. Excluding acquisition and integration expenses from the acquisition of Hospital Management Associates, legal expenses related to the HMA legal proceedings underlying the CVR agreement, and expenses related to other government legal settlements, adjusted EBITDA is expected to be approximately $785M for the three months ended December 31, 2014.
07:18 EDTCYHCommunity Health Sees FY14 EPS $3.29, consensus $3.21
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06:01 EDTHLFStocks with implied volatility above IV index mean; HLF YHOO
Stocks with implied volatility above IV index mean; Herbalife (HLF) 113, Yahoo (YHOO) 54 according to iVolatility.
January 19, 2015
16:29 EDTMOSMosaic expects 'further business strength' into 2015
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16:28 EDTAGU, POT, MOSMosaic raises Q4 EPS outlook to 83c-88c, consensus 57c
The Mosaic Company announced that it expects reported phosphates volume and phosphates and potash margins to exceed previously provided guidance ranges, and that potash volumes will be at the high end of guidance range, resulting in Q4 earnings per share in the range of 93c-98c, including 10c in net benefits from notable items. The notable items include early estimates of discrete tax benefits, primarily related to the acquisition of a Brazilian distribution business, which may change. The company expect earnings, excluding notable items, to be in the range of 83c-88c. The consensus EPS estimate is 57c..Mosaic stated, "Demand for potash and phosphates exceeded our expectations during the fourth quarter,. We were cautiously optimistic going into the fall application season with good crop nutrient affordability and an empty supply chain, but customers came to the market in force, as they sought to position inventory in anticipation of a strong spring season and increasing crop nutrient prices...Our Phosphates business sold 3.3 million tonnes of finished product during the quarter - well above our expectations - and our Potash business produced at a high operating rate due to a successful proving run at the Colonsay mine." Mosaic's peers include Potash (POT) and Agrium (AGU).
January 18, 2015
17:40 EDTAETAetna customers can switch coverage after mistake, Bloomberg says
Aetna is being investigated by the U.S. for misleading elderly and disabled people about which pharmacies would fill prescriptions in Medicare drug plans the health insurer sold them, says Bloomberg. According to the Bloomberg report, customers will be able to quit their coverage and choose a new plan this year as a result. Raymond Thorn, a spokesman for the Centers for Medicare and Medicaid Services said Aetna may be fined or prohibited from enrolling new Medicare customers if the agency determines it intentionally misled Medicare patients, added Bloomberg. Reference Link
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