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Stock Market & Financial Investment News

News Breaks
February 5, 2013
12:33 EDTVMED, BIDU, ADM, MHP, MSFT, ACI, EL, LBTYA, DELL, YUM, CSCOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as reports on services companies from around the globe improved the market's tone dramatically from yesterday. The averages moved higher right at the open and extended the gains until the Dow reached the 14K level once again, where it continues to meet resistance... ECONOMIC EVENTS: In the U.S., the day's lone significant economic report showed growth at service companies slowed slightly in January. The Institute for Supply Management's index of non-manufacturing activity dipped to 55.2 in January, which was down from 55.7 in December but above expectations for a reading of 55.0. In Europe, the composite euro-zone services PMI rose to 48.6 in January from a 48.3 reading in the prior month. In China, HSBC's services PMI jumped to 54.0 in January from 51.7 the month before... COMPANY NEWS: Dell's (DELL) expected "go private" deal was officially announced, as private equity firm Silver Lake and Michael Dell agreed to buy the world’s third-largest PC company for $13.65 in cash, or about $24.4B. As widely speculated, the financing for the deal includes a $2B loan from Microsoft (MSFT). Dell shares, which had risen about 22% over the last month amidst the going private chatter, were up another 0.8% to $13.38 following the announcement... Among companies reporting earnings last night and this morning, advancers included CSC (CSC), Estee Lauder (EL), Archer Daniels (ADM), while Yum! Brands (YUM), Arch Coal (ACI), and Baidu (BIDU) declined... MAJOR MOVERS: Among the notable gainers was Virgin Media (VMED), which rose over 16% amid media reports that the company is in talks to be taken over by Liberty Global (LBTYA). Virgin Media confirmed that it is in discussions with Liberty Global concerning a possible transaction, but did not provide any details on the nature of the talks or time frame for an expected resolution. Shares of Liberty Global slid about 3% following Virgin's confirmation. Also lower were shares of McGraw-Hill (MHP), which followed yesterday's nearly 14% slide with another 5% decline after the DOJ confirmed it is suing Standard & Poor's for alleged fraud in rating mortgage-based securities... INDICES: Near noon, the Dow was up 110.24, or 0.79%, to 13,990.32; the Nasdaq was up 32.19, or 1.03%, to 3,163.36; and the S&P 500 was up 13.47, or 0.90%, to 1,509.18.
News For DELL;MSFT;VMED;LBTYA;MHP;CSC;EL;ADM;YUM;ACI;BIDU From The Last 14 Days
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April 15, 2014
18:58 EDTBIDUOn The Fly: After Hours Movers
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16:22 EDTADMOn The Fly: Closing Wrap
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15:53 EDTMSFTFord's new My Touch with BlackBerry software slated for year end, WSJ says
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13:19 EDTADMArcher Daniels announces $350M unit sale to Mosaic, other actions
Archer Daniels Midland (ADM) announced three actions in the company’s ongoing portfolio management. ADM has signed an agreement to sell its fertilizer business in Brazil and Paraguay to The Mosaic Company (MOS) for $350M. The transaction consists primarily of five ADM-owned blending facilities in Brazil and Paraguay. The purchase price includes $150M in working capital. As part of the transaction, ADM will purchase fertilizer from Mosaic after the closing and will continue to supply certain fertilizer customers in Brazil and Paraguay. ADM also announced it will pursue the sale of its chocolate business, while retaining the majority of its cocoa press operations. The company has engaged advisers to facilitate the sale process. Finally, ADM announced it will acquire the remaining 20% minority stake of Alfred C. Toepfer International for EUR83M, representing about 1.1x net book value. The proposed transaction, which is occurring through the exercise of a put agreement by Union InVivo, will be subject to customary regulatory approvals. Since 2002, ADM has owned 80% of Toepfer. InVivo will remain a strategic business partner for ADM in Europe.
12:31 EDTADMMosaic to acquire Archer Daniels' Brazil, Paraguay fertilizer units
Mosaic (MOS) signed definitive agreements with Archer Daniels Midland (ADM) to acquire its fertilizer distribution business in Brazil and Paraguay for $350M. The purchase price assumes the delivery of $150M in working capital at closing. This acquisition is expected to accelerate Mosaic's previously announced growth plans in Brazil as well as replace planned internal investments in that country. Under the terms of the agreement, Mosaic would acquire four blending and warehousing facilities in Brazil, one in Paraguay and additional warehousing and logistics service capabilities. The acquisition of ADM's fertilizer distribution business would increase Mosaic's annual distribution in the region from approximately 4M metric tonnes to about 6M metric tonnes of crop nutrients. The parties have also negotiated the terms of five-year fertilizer supply agreements providing for Mosaic to supply ADM's fertilizer needs in Brazil and Paraguay. Mosaic will fund the acquisition with cash from operations. The transaction is not expected to impact Mosaic's shareholder distribution plans. The proposed sale will be contingent on customary regulatory approvals.
10:00 EDTELOn The Fly: Analyst Upgrade Summary
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08:07 EDTMSFT21Vianet announces general availability of Microsoft Office 365 in China
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05:25 EDTELHPC sector upgraded to Neutral from Cautious at Goldman
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05:20 EDTELEstee Lauder upgraded to Conviction Buy from Buy at Goldman
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April 14, 2014
10:02 EDTMSFTOn The Fly: Analyst Downgrade Summary
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07:23 EDTYUMJapan sees first bird flu outbreak since 2011, Mainichi reports
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05:36 EDTMSFTMicrosoft downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded its rating on Microsoft (MSFT) to Hold from Buy citing valuation and concerns over the closing of the Nokia unit acquisition. The firm has a $42 price target for shares.
April 11, 2014
12:44 EDTBIDUHedge funds initiating shorts on Priceline, Amazon, Twitter, CNBC says
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April 10, 2014
10:00 EDTLBTYAOn The Fly: Analyst Upgrade Summary
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08:44 EDTMSFTCLSA technology analysts hold an analyst/industry conference call
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08:00 EDTMSFTSony PS4 grants Hirai profit potential as risk decreases, Bloomberg says
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07:21 EDTLBTYALiberty Global at Goldmanupgraded to Conviction Buy from Buy at Goldman
Goldman upgraded Liberty Global to Conviction Buy from Buy citing the pullback in shares, Broadband fiber pricing power, and M&A opportunities. Price target is $53.
06:23 EDTMSFTIDC says worldwide PC shipments totaled 73.4M units in Q1, down 4.4% y/y
Worldwide PC shipments totaled 73.4 million units in 1Q14, a decline of -4.4% year on year, according to the International Data Corporation Worldwide Quarterly PC Tracker. Although still in decline and with continuing weakness in consumer and emerging market segments, the preliminary results are slightly better than a projected decline of -5.3%. The U.S. market continued to stabilize with growth near zero – in line with forecasts. With shipments totaling 14.3 million PCs in 1Q14, the U.S. market contracted by -0.6% from the same quarter a year ago. Desktop shipments were slightly stronger, posting 3.5% growth, while portables remained in negative territory. Lenovo (LNVGY) preserved its lead in total worldwide PC shipments despite a seasonal drop due to the Chinese New Year. Growth in other regions continued at a solid pace although Latin America slowed after a dramatic expansion over the past year. HP (HPQ) remained in the number 2 position, with growth rising nicely to nearly 5% year on year. Dell grew over 9% in the first quarter.
06:14 EDTMSFTMicrosoft may release server orders to Taiwan ODMs, DigiTimes reports
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06:04 EDTELYahoo hires Bobbi Brown to be editor-in-chief of beauty site, Re/code reports
Yahoo (YHOO) has hired Bobbi Brown, the creator of Bobbi Brown Cosmetics (EL), to be the editor-in-chief of its beauty site, Re/code reports, noting that several of Yahoo's big advertisers -- L'Oreal (LRLCY), Procter & Gamble (PG) and Unilever (UN, UL) -- are competitive with Bobbi Brown Cosmetics. Reference Link
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