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Stock Market & Financial Investment News

News Breaks
August 18, 2014
16:52 EDTDG, NXPI, ST, MNST, FDO, LCIOn The Fly: Closing Wrap
Stocks opened in positive territory and continued to tack on gains throughout the session. The market opened higher due to optimism that Russia and the Ukraine were negotiating a ceasefire. The momentum was solidified by better than expected data from the NAHB Housing Market Index. The averages drifted higher into the afternoon, setting up August to be the best monthly performance since February. The market closed near session highs on one of the lightest volume days of the year. ECONOMIC EVENTS: The NAHB homebuilder sentiment index rose 2 points to 55 in August. The index had climbed 4 points to 53 in July. This is the highest level since January's 56. The single family sales index edged up to 58 from 56 (revised from 57). The future index was 65 from 63 (revised from 64). The index of prospective buyer traffic improved to 42 from 39 (revised from 39). COMPANY NEWS: Shares of discount retailer Dollar General (DG) were higher by about 11.6% after the company announced a proposal to acquire rival Family Dollar (FDO) for $78.50 per share in cash, in a transaction valued at $9.7B. Shares of Family Dollar rose approximately 5% on the news. MAJOR MOVERS: Among the notable gainers was Sensata Technologies (ST), which rose 5.8% after after agreeing to buy privately held Schrader International for $1B. Also higher was Lannett (LCI), which gained 6.6% after the company said fourth quarter and full-year 2014 earnings per share and revenue would exceed analysts' consensus estimates. Among the noteworthy losers was Monster Beverage (MNST), which fell 5.4% after research firm Jefferies downgraded the shares to Hold from Buy saying the valuation looks full following its recent rally. Also lower was NXP Semiconductors (NXPI), which dropped 1% after Goldman Sachs downgraded the company to Sell from Neutral, and downgraded the semiconductor sector to Cautious from Neutral. The firm expects consensus estimates to move lower due to cyclical headwinds, increased Q4 and Q1 seasonality, and a RF correction. Goldman lowered their price target on the shares to $54 from $58. INDEXES: The Dow gained 175.8, or 1.06%, to 16,838.74, the Nasdaq rose 43.39, or 0.97%, to 4,508.31, and the S&P 500 was higher by 16.68, or 0.85%, to 1,971.74.
News For DG;FDO;ST;LCI;MNST;NXPI From The Last 14 Days
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January 14, 2015
10:40 EDTFDO, DGISS recommends Family Dollar stockholders vote 'for' merger with Dollar Tree
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10:39 EDTDG, FDOISS recommends Family Dollar stockholders vote 'for' merger with Dollar Tree
10:14 EDTDG, FDOISS recommends Family Dollar holders support Dollar Tree deal
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10:00 EDTMNSTOn The Fly: Analyst Upgrade Summary
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08:50 EDTMNSTMonster Beverage upgraded to Outperform at Cowen
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08:37 EDTFDO3D Systems says David Styka joins company as Chief Accounting Officer
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07:37 EDTLCIJPMorgan to hold a conference
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06:50 EDTMNSTMonster Beverage upgraded to Outperform from Market Perform at Cowen
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January 13, 2015
10:16 EDTMNSTMonster Beverage rises as Stifel target hike outweighs Wells Fargo downgrade
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10:00 EDTSTOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: American Midstream Partners (AMID) initiated with a Buy at Wunderlich... Ameriprise (AMP) initiated with a Buy at Deutsche Bank... Applied DNA Sciences (APDN) initiated with a Buy at Maxim... Axalta Coating (AXTA) initiated with an Outperform at RW Baird... Bellicum Pharmaceuticals (BLCM) initiated with a Buy at Citigroup... Bonanza Creek (BCEI) initiated with a Hold at Deutsche Bank... ConocoPhillips (COP) initiated with an Underweight at JPMorgan... Core-Mark (CORE) initiated with a Buy at Jefferies... Dick's Sporting (DKS) initiated with an In-Line at Imperial Capital... Dynegy (DYN) reinstated with an Overweight at Barclays... Gannett (GCI) initiated with an Outperform at Wells Fargo... Gran Tierra (GTE) initiated with an Outperformer at CIBC... HomeAway (AWAY) initiated with an Outperform at RBC Capital... Juno Therapeutics (JUNO) initiated with a Neutral at Goldman... MakeMyTrip (MMYT) initiated with a Buy at BofA/Merrill... PDC Energy (PDCE) initiated with a Hold at Deutsche Bank... PNC Financial (PNC) initiated with a Hold at Evercore ISI... Proofpoint (PFPT) initiated with a Buy at Summit Research... Sensata (ST) initiated with a Buy at Stifel... Southcross Energy Partners (SXE) initiated with a Buy at Wunderlich... Suncor (SU) initiated with an Overweight at JPMorgan... U.S. Bancorp (USB) initiated with a Hold at Evercore ISI... United Financial (UBNK) initiated with a Sector Perform at RBC Capital... Vantiv (VNTV) initiated with an Outperform at Keefe Bruyette... Wells Fargo (WFC) initiated with a Hold at Evercore ISI.
10:00 EDTMNSTOn The Fly: Analyst Downgrade Summary
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08:23 EDTMNSTMonster Beverage volatility elevated into investor meeting
Monster Beverage January call option implied volatility is at 49, February is at 34, March is at 36; compared to its 26-week average of 30 according to Track Data, suggesting larger near term price movement into a company hosted investor meeting today.
07:41 EDTMNSTWells downgrades Monster Beverage on valuation
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07:13 EDTMNSTMonster Beverage price target raised to $130 from $115 at Stifel
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05:51 EDTMNSTMonster Beverage downgraded to Market Perform from Outperform at Wells Fargo
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January 12, 2015
17:01 EDTFDOFred's names Michael Bloom COO
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16:16 EDTSTSensata initiated with a Buy at Stifel
Target $60.
07:56 EDTNXPINXP Semiconductors price target raised to $95 from $85 at Canaccord
Canaccord raised its price target on NXP Semiconductors to $95 from $85 following the company's demonstrations at the CES conference. The firm sees strong growth prospects across its end markets, particularly in the automotive sector. Canaccord reiterated its Buy rating on NXP Semiconductor shares.
06:18 EDTFDOFamily Dollar sends letter to stockholders on proposed merger with Dollar Tree
Family Dollar (FDO), in a letter to its stockholders, explains the recommendation of the board that stockholders vote "FOR" the merger with Dollar Tree (DLTR). In the letter, Family Dollar CEO Howard Levine said, "I wanted to provide complete transparency to you regarding the most recent feedback that we have received from the FTC staff, which reaffirms the statements that we have been making for several months now about the inability of the Dollar General proposal to be consummated on the terms proposed by Dollar General and the certainty of the Dollar Tree merger... This existing economic analysis by the FTC will be refined in certain respects, but we see no basis to believe that, taken together, these refinements will result in a final divestiture number anywhere near the 1,500 stores that Dollar General has offered to divest. Importantly, the 3,500 to 4,000 store range does not include many additional divestitures that likely will be triggered by the well over 1,000 additional new or planned Dollar General and Family Dollar stores. The FTC staff plans to incorporate these stores into the same economic analysis, which will create new overlaps and exacerbate existing overlaps that have not yet created presumptions of requirements to divest. Going in the other direction, the FTC will incorporate into its economic analysis a modest number of competitorsí additional new or planned stores. We expect that the net impact of these two changes will be an increase in the store count... With respect to timing, in light of the thousands of stores at issue, we expect that the definitive number of divestitures that the FTC will actually require is not likely to be known by Family Dollar or Dollar General for several months... We expect Dollar Tree to continue to make rapid progress in completing the antitrust clearance process pursuant to its binding undertakings in the merger agreement, including its covenant to divest as many stores as necessary or advisable to obtain such clearance. In sum, antitrust clearance of the Dollar Tree merger on its terms and in a timely manner is a virtual certainty."
06:04 EDTFDODollar Tree provides update on FTC review of Family Dollar acquisition
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