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Stock Market & Financial Investment News

News Breaks
May 7, 2012
16:38 EDTCTSH, ABT, CECO, DIS, TPX, VRTXOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, as investors had a muted reaction to the anti-austerity backlash evidenced in two elections in Europe. Stock futures pointed to a lower open throughout the pre-market trading session but moved off their low prior to the opening bell. The futures action led to a lower but stable open with the market essentially hitting its lows soon after the open. The market began to drift off its lows after the first hour of trading and by midday made it back to positive ground. The market continued to drift for most the remainder of the session until a downturn into the close pushed the S&P and Nasdaq back down to finish the day near the flat line... ECONOMIC EVENTS: In the U.S., consumer credit increased by $21.36B in March, versus expectations of an increase of $9.8B. In Europe, Francois Hollande defeated Nicolas Sarkozy in France's presidential election and voting in Greece’s general election showed a dramatic swing toward anti-austerity groups and away from the pro-Europe parties... COMPANY NEWS: Disney's (DIS) "The Avengers" set U.S. records with its $200M opening weekend, powering the company's shares 2% higher... Abbott Labs (ABT) announced it reached a settlement and will pay $1.6B in connection with its marketing of Depakote... MAJOR MOVERS: Among the notable gainers were Vertex Pharma (VRTX), up $20.71, or 55.36%, to $58.12, amid at least three upgrades and a number of price target increases after the company reported interim data from a Phase 2 study of a combination therapy for certain cystic fibrosis patients, and Career Education (CECO), up 56c, or 8.70%, to $7.00, after the Accrediting Council for Independent Colleges and Schools removed its show-cause directive on all 71 Career Education campuses accredited by the body and the company said four of its campuses were placed on probation. Noteworthy losers included Cognizant (CTSH), down $13.35, or 19.16%, to $56.31, after the company's earnings beat consensus but it said its revising its guidance to be more conservative after seeing slower-than-expected acceleration in demand, and Tempur-Pedic (TPX), down $8.42, or 14.85%, to $48.29, as Raymond James said in a note to investors that the company will offer a discount on one of its most profitable mattresses, the Cloud Supreme, which the firm said was unusual for the company... INDICES: The Dow lost 29.74, or 0.23%, to 13,008.53; the Nasdaq rose 1.42, or 0.05%, to 2,957.76; and the S&P 500 added 0.48, or 0.04%, to 1,369.58.
News For DIS;ABT;VRTX;CECO;CTSH;TPX From The Last 14 Days
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March 2, 2015
12:00 EDTDISFCC probing Comcast, Time Warner Cable, The Verge says
The FCC is investigating whether Comcast (CMCSA) or Time Warner Cable (TWC) limited or restricted companies' ability to access streaming video services, according to The Verge, which cited an FCC document. Disney (DIS), CBS (CBS), and Viacom (VIA) were among the companies approached by the FCC about the matter, The Verge stated. Reference Link
February 27, 2015
12:35 EDTABTMylan completes acquisition of assets from Abbott
Mylan N.V. and Mylan (MYL) announced the successful completion of the acquisition of Abbott Laboratories' (ABT) non-U.S. developed markets specialty and branded generics business. Under the previously announced terms of the transaction agreement, Abbott received 110M shares of Mylan N.V., resulting in former Mylan shareholders now owning approximately 78% of Mylan N.V. and Abbott now owning approximately 22% of Mylan N.V. Mylan Inc. and Abbott's non-U.S. developed markets specialty and branded generics business have been reorganized under Mylan N.V., a new public company organized in the Netherlands. Mylan N.V. will be led by the former Mylan Inc. executive team. The company will trade on Nasdaq under the ticker symbol MYL.
07:39 EDTCTSHCognizant remains a top pick at Goldman
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06:07 EDTDISTiVo, RPX buy Aereo assets, WSJ says
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February 26, 2015
12:48 EDTDISEarnings Preview: J.C. Penney sees Q4 SSS at high end of 2%-4% view
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February 25, 2015
11:47 EDTDISAnalysts clash on DreamWorks following Q4 miss
The shares of animated film and television show maker DreamWorks (DWA) are rising, despite the weaker than expected results reported by the company last night. Two analysts offered very different views on the company's outlook following its results. BACKGROUND: DreamWorks last night reported a fourth quarter per share loss of ($3.08), versus analysts' consensus outlook for a ($3.01) per share loss. The company's revenue also came in below expectations. Excluding $210M in pre-tax charges associated with DreamWorks' restructuring plan, its loss was (75c) per share, the company stated. BEARISH TAKE: In a note to investors today, FBR Capital analyst Barton Crockett wrote that DreamWorks' results were "ugly," as they included $155M of write-offs on films and TV shows. However, Crockett believes that the crucial factor for the company's outlook is whether it can consistently compete with the entertainment giants, including Disney (DIS), Viacom (VIA), and Time Warner (TWX). Crockett is not convinced that DreamWorks will be able to hold its own, and he believes that its 2015 results could come in below expectations. The analyst warned that the company may have difficulty meeting its 2015 consumer products revenue guidance. DreamWorks expects its consumer products revenue to double this year, but the movie-based toy space is "very competitive" in 2015, as toys based on multiple popular children's films are set to be released, Crockett stated. Moreover, after conducting checks online, Crockett reports that there does not seem to be a great deal of interest in DreamWorks' movie "Home," which is set to be released on March 27. He kept an Underperform rating on the shares and raised his price target on the stock to $14 from $12. BULLISH TAKE: DreamWorks' results were mixed, but the results are not very important, Piper Jaffray analyst James Marsh stated. The company's guidance for its TV and consumer products businesses were solid, the analyst believes. Moreover, the company "took specific and decisive action" to avert a liquidity crunch, Marsh wrote. Specifically, DreamWorks raised $185M of capital by selling its real estate in Glendale, California and then leasing it back, and increased the size of its current credit facility to $450M from $400M, Marsh reported. The moves should "largely" eliminate investors' worries about the company's liquidity position, Marsh stated. He kept a $26 price target and Overweight rating on the stock. WHAT'S NOTABLE: On DreamWorks' earnings conference call last night, the company's CEO Jeffrey Katzenberg stated that it did not obtain more than 10% of its revenue from Netflix (NFLX) last year. However, in an SEC filing earlier this morning, DreamWorks clarified that it had obtained 14.9% of its revenue from Netflix last year. PRICE ACTION: In late morning trading, DreamWorks rose 5.6% to $22.31.
06:14 EDTVRTXPTC Therapeutics takeout price likely tops $100/share, said Credit Suisse
Credit Suisse yesterday raised its price target for PTC Therapeutics (PTCT) shares to $100 from $66 after Reuters reported the drug market is starting a sale process with Shire (SHPG) and Biomarin (BMRN) as possible suitors. The firm believes a takeout is a likely outcome before or after data the Phase III data expected to be announced in October. PTC has Translarna Phase III trials ongoing in Duchenne muscular dystrophy and cystic fibrosis to support full approval in the U.S. Credit Suisse said yesterday in a note to investors that a takeout value for the company likely exceeds $100 per share. It believes PTC would be a good fit for Vertex (VRTX), Biogen (BIIB), Roche (RHHBY) and others. The firm kept an Outperform rating on the stock. PTC Therapeutics shares closed yesterday up $6.20 to $71.16.
February 23, 2015
18:13 EDTDISBob Chapek named Chairman, Walt Disney Parks and Resorts
Bob Chapek has been named Chairman, Walt Disney Parks and Resorts, it was announced by Robert A. Iger, Chairman and CEO, and Thomas O. Staggs, COO, The Walt Disney Company. A 22-year veteran of The Walt Disney Company, Chapek has served since 2011 as President of Disney Consumer Products, driving a technology-led transformation of the company’s consumer products, retail and publishing operations. He assumes his new role effective immediately.
11:35 EDTDISAmazon picks Benson to head advertising for original TV series, Variety says
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February 22, 2015
13:03 EDTDISDisney raises prices at the Magic Kingdom, Orlando Sentinel says
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February 20, 2015
07:08 EDTABTAmerican Academy of Allergy, Asthma and Immunology to hold annual meeting
2015 Annual Meeting of AAAAI is being held in Houston, Texas on February 20-24.
February 19, 2015
10:32 EDTTPXHigh option volume stocks:
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February 18, 2015
09:04 EDTVRTXVertex data likely to show lung function improvement, says JMP Securities
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08:20 EDTTPXTempur Sealy says strategic priorities include expanding margins
Says strategic priorities include accretive acquisitions of licensees, JVs, expanding distribution, expanding margins.
08:19 EDTTPXTempur Sealy sees FY15 adjusted EPS growth 12%-27%
Sees FY15 adjusted EPS growth 12%-27% and net sales growth 5.5%-8.5%, as adjusted for FX. Not adjusted for FX, sees FY15 adjusted EPS growth 2%-17%, net sales growth 2%-5%.
08:17 EDTTPXTempur Sealy says targeting 15% annual base adjusted EPS growth 2015-2018
Says targeting 6% annual base sales growth 2015-2018. Targeting 50bps annual base operating margin improvement 2015-2018. Comments from Investor Day presentation slides.
February 17, 2015
13:36 EDTTPXTempur Sealy says 'disappointed' in H Partners going public
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12:56 EDTDISDecline of TV viewing accelerated, NY Post reports
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07:42 EDTTPXTempur Sealy shareholder H Partners demands leadership, board changes
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06:36 EDTTPXH Partners to demand CEO change at Tempur Sealy, WSJ says
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