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Stock Market & Financial Investment News

News Breaks
May 7, 2012
16:38 EDTTPX, VRTX, CTSH, ABT, CECO, DISOn 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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July 2, 2015
07:45 EDTTPXTempur Sealy price target raised to $75 from $65 at Stifel
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June 30, 2015
14:01 EDTDISDisney names Christine McCarthy CFO, Kevin Mayer Chief Strategy Officer
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07:32 EDTVRTXVertex should get Orkambi approval by Monday or sooner, says Piper Jaffray
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June 29, 2015
15:28 EDTVRTXVertex management to meet with UBS
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14:21 EDTDISDisney announces realignment of Consumer Products, Interactive divisions
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07:47 EDTVRTXCerulean appoints Stuart A. Arbuckle to board of directors, effective June 26
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06:00 EDTDISDisney's outgoing CFO to stay on as advisor, Deadline Hollywood reports
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June 28, 2015
15:40 EDTDISUniversal's 'Jurassic World' leads U.S. weekend box office with $54.2M
For the weekend of June 28, Comcast (CMCSA, CMCSK) subsidiary Universal's "Jurassic World" topped domestic box office charts at $54.2M. Disney's (DIS) "Inside Out" landed in second place with $52.1M, while Universal's "Ted 2" came in third with $32.9M. Time Warner (TWX) subsidiary Warner Bros.' "Max" and Fox's (FOX, FOXA) "Spy" took fourth and fifth place at $12.2M and $7.8M, respectively. Data gathered by Rentrak.
June 26, 2015
08:28 EDTDISDisney considers $1B Disneyland expansion in tax deal with Anaheim
The city of Anaheim, California said it is expected to consider an entertainment tax policy for the Disneyland Resort at its July 7 meeting as Walt Disney Parks and Resorts evaluates a significant investment in its existing operations in the Anaheim Resort. Disney is evaluating the addition of new attractions to drive attendance with a potential investment that could be valued at $1B. If Disney decides to move forward, it would have until December 31, 2024, to complete its investment under the proposed agreement. The expansion under consideration requires no City funding or bond financing. The resolution going before the Council extends a nearly 20-year agreement with Disney regarding entertainment tax policy.
June 25, 2015
12:52 EDTABTEU to decide by July 29 on Mylan's bid for Perrigo, Reuters reports
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09:08 EDTDISOn The Fly: Pre-market Movers
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June 24, 2015
16:20 EDTDISDisney plans semi-annual dividend, says raising dividend 15% annually
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08:25 EDTDISNetflix on pace to have larger audience than all networks, FBR says
FBR Capital analyst Barton Crockett says that while Netflix (NFLX) is not rated by Nielsen (NLSN), the 10B hours streamed in Q1 reported by the company are equivalent to having a 24-hour rating of 2.6, on par with Disney's (DIS) ABC and Comcast's (CMCSA) NBC. And while ratings at broadcasters are falling on average, Netflix is growing its ratings at a 40%-plus compound annual rate, Crockett tells investors this morning in a research note. At this pace, Netflix in a year will have a larger 24-hour audience than all broadcast networks, he contends. Regarding last night's 7-for-1 stock split announcement, Crockett says the move reflects management's confidence in the "durability of the recent stock surge." For perspective, three years ago Netflix shares were around $60. This morning they are trading up $18.69 to $699.88 in the pre-market. Crockett has an Outperform rating on the streaming service with a $900 price target.
07:43 EDTDISDisney not investing $250M to DraftKings, Re/code reports
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05:35 EDTCTSHCognizant announces strategic relationship with Escorts Limited
Cognizant announced a strategic relationship with Escorts Limited, one of India's engineering conglomerates, to modernize Escorts' technology landscape and help achieve the company's vision of digitally transforming its businesses to deliver innovative products, provide superior customer experience, and drive growth. This multi-year, multi-million dollar engagement spans all of Escort's businesses, including agri-machinery, material handling and construction equipment, railway equipment and auto components. Cognizant will enable Escorts to improve control and collaboration across its value chain by mobile-enabling its workforce and integrating multiple systems used by vendors, sales partners, and customers. This will help Escorts continuously improve product quality and offer a broad range of customized, configurable, and value-added products and services, strengthening existing customer relationships and building new ones.
June 23, 2015
13:09 EDTDISHulu to sell Showtime premium package for subscribers
Hulu (DIS;NWSA;CMSA) will sell Showtime Networks' (CBS) Internet streaming service to subscribers in early July, reports Variety. Hulu will offer Showtime to its subscribers for $8.99 in addition to the $7.99 fee Hulu subscribers pay per month.Reference Link
June 22, 2015
13:19 EDTDISMarvel Entertainment wins patent dispute over Spider-Man toy, Variety says
The Supreme Court sided with Disney 's Marvel Entertainment in a case involving a patent on a toy owned by Stephen Kimble that shoots web from pressurized foam string, says Variety. The Court would not overrule precedent and ruled in favor of Marvel Entertainment that a patentee cannot continue to receive royalties for a patent after it expires, added Variety. Reference Link
09:01 EDTCTSHCognizant management to meet with JPMorgan
Meetings to be held in Berwyn/Princeton/Trenton on June 25 hosted by JPMorgan.
June 21, 2015
17:57 EDTDISRealD says 3D screens accounted for 47% of weekend 'Jurassic World' gross
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16:21 EDTDISUniversal's 'Jurassic World' leads U.S. weekend box office with $102M
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