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Stock Market & Financial Investment News

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March 12, 2012
12:08 EDTXOM, TZYM, MTU, PCBC, ZOLL, DANG, KUTV, RENN, YOKU, TUDO, DISOn The Fly: Mid-Day Wrap
Stocks on Wall Street were mixed at mid-day, with the Dow higher and the Nasdaq lower, but neither by a wide margin. The Dow is being led by the shares of Exxon Mobil (XOM), which are up more than 1.3% despite oil being down more than $1.00 a barrel. The averages have moved in a narrow range in a low-volatility, low-volume session. Investors are looking to tomorrow's FOMC meeting for clues as to any change in the Fed's strategy... ECONOMIC EVENTS: In the U.S., the economic calendar was light today, but will be heavier the rest of the week, with reports due on retail sales, consumer sentiment and small business optimism along with a rate meeting for the FOMC. With little domestic data, investors focused on international news, most notably China's February trade deficit of $31.5B, which was its largest in over 20 years... MARKET NEWS: Disney's (DIS) expensive sci-fi film "John Carter" opened to disappointing domestic grosses, as widely expected... Tudou Holdings (TUDO) jumped almost 150% following its acquisition by Youku.com (YOKU), which also saw its shares rise about 18%. Other Chinese media and tech names also traded higher following the news, with Renren (RENN), Ku6 Media (KUTV), and Dangdang (DANG) among those advancing... MAJOR MOVERS: Among the notable gainers were ZOLL Medical (ZOLL), after agreeing to a $93 per share buyout offer from Asahi Kasei, and Pacific Capital Bancorp (PCBC), which agreed to be acquired for $46 per share by UnionBanCal, a subsidiary of Mitsubishi UFJ Financial (MTU). Noteworthy losers included Tranzyme (TZYM), after saying a Phase 3 trial of one of its drugs failed to meet its endpoints, and Anthera Pharmaceuticals (ANTH), following downgrades at Citigroup and Cowen after one of its trials was halted due to the lack of the drug's efficacy... INDICES: Near noon, the Dow was up 14.15, or 0.11%, to 12,936.17; the Nasdaq was down 11.15, or 0.37%, to 2,977.19; and the S&P 500 was down 3.34, or 0.24%, to 1,367.53.
News For DIS;TUDO;YOKU;RENN;KUTV;DANG;ZOLL;PCBC;MTU;TZYM;XOM From The Last 14 Days
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September 26, 2014
13:56 EDTXOMRosneft, Exxon Mobil strikes oil in Arctic well, Financial Times reports
Rosneft and Exxon Mobil have struck oil in their joint Universitetskaya-1 well in the Kara Sea, reports the Financial Times, according to people familiar with the matter. The results are unlikely to be conclusive because the companies drilled one well in "a huge area." Reference Link
September 24, 2014
19:47 EDTXOMExxon announces new projects to expand specialty hydrocarbon fluid production
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16:22 EDTDISOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a report showed that sales of new homes rose to their highest level in over six years in August. The volume and news flow were relatively light, which may be the case again tomorrow as many market participants celebrate the Jewish holiday of Rosh Hashanah. ECONOMIC EVENTS: In the U.S., new home sales rose 18.0% in August to a 504K unit rate, which was much higher than the expected 4.4% increase. COMPANY NEWS: Bed Bath & Beyond (BBBY) advanced $4.64, or 7.4%, to $67.33 after the home goods retailer last night reported second quarter earnings and revenue that surpassed analysts' consensus estimates. The better than expected report and rise in the stock comes a day after William Blair downgraded the stock yesterday morning... Citizen Financial (CFG), the U.S. retail bank unit of Royal Bank of Scotland (RBS), became the year's second largest IPO behind Alibaba (BABA) after 140M shares began trading on the NYSE this morning. The stock ended it first day up $1.58, or 7.35%, at $23.08, which was far cry from the advance seen by another of the day's new stock debuts. CyberArk (CYBR) priced 5.36M shares at $16.00, opened for trade at $25.00 and ended the day at $29.94, making for a rise of over 87% from its IPO pricing. MAJOR MOVERS: Among the notable gainers was Acorda Therapeutics (ACOR), which advanced $8.27, or 28.18%, to $37.62 after the company agreed to acquire Civitas Therapeutics for $525M in cash. Civitas, which was private, had been scheduled to come public via an IPO that was expected to happen later this week prior to the deal announcement. Also higher was Hasbro (HAS), which rose $2.01, or 3.8%, to $54.95 after striking a deal that gives the company global rights, excluding Japan, to develop dolls based on Disney's (DIS) princess characters, as well as Frozen, beginning in 2016. Mattel (MAT), which currently holds those rights, slid 40c, or 1.25%, to $31.67 in the wake of the news. Also lower were shares of Skechers (SKX), which fell $5.69, or 9.8%, to $52.40 after research firm SportscanInfo reported that the footwear maker's sales had fallen 3% last week. However, Sterne Agee recommended buying the stock on the weakness. INDEXES: The Dow rose 154.19, or 0.9%, to 17,210.06, the Nasdaq gained 46.53, or 1.03%, to 4,555.22, and the S&P 500 added 15.53, or 0.78%, to 1,998.30.
12:29 EDTDISHasbro Princess deal positive, says Wells Fargo
After Hasbro announced that beginning in 2016 it would have the global (ex Japan) Disney (DIS)Princess doll license, Wells Fargo thinks that Hasbro has added a premier, established global license that increases the visibility of its results and significantly strengthens its girls business. The firm thinks the deal will cause Hasbro's multiple to expand further, and it keeps an Outperform rating on the shares.
10:02 EDTDISHasbro announces strategic merchandising relationship with Disney
Hasbro (HAS) announced a new strategic merchandising relationship with Disney (DIS( Consumer Products for the globally popular Disney Princess and Frozen properties. The agreement gives Hasbro global rights, excluding Japan, to develop dolls based on Disney Princess stories and characters including Cinderella, Beauty and The Beast, and The Little Mermaid as well as Frozen beginning in 2016.
September 23, 2014
10:02 EDTXOMOn The Fly: Analyst Initiation Summary
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06:05 EDTXOMExxon Mobil initiated with a Neutral at JPMorgan
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September 22, 2014
10:31 EDTDISDisney's "The Lion King" becomes highest grossing Broadway show, Deadline says
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September 21, 2014
13:37 EDTDISDisney attempts to expand to Indian film market with Khoobsurat release, FT says
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September 19, 2014
13:44 EDTXOMSources say Exxon Mobil's Torrance, CA, refinery up for sale, Reuters reports
According to sources, Exxon Mobil's 15,000 barrel per day Torrance, California, refinery is up for sale, Reuters reports. One source notes that the refinery "has been looked at extensively." An Exxon spokesman says the company is committed to conducting business in California and would not comment on a potential sale. Reference Link
11:52 EDTXOMExxon Mobil releases staement on Treasury Department sanctions on Russia
ExxonMobil announced that it is complying with all U.S. sanctions. The company said, "The U.S. Treasury Department, recognizing the complexity of the University-1 well and the sensitive Kara Sea arctic environment, has granted a license to ExxonMobil and other U.S. contractors and persons involved to enable the safe and responsible winding down of operations related to this exploration well. The license recognizes the need to protect the safety of the individuals involved in these operations as well as the risk to the environment. All activities related to the wind down will proceed as safely and expeditiously as possible."
11:14 EDTMTUSumitomo Mitsui, Mitsubishi UFJ on short list for Citigroup unit, WSJ reports
Sumitomo Mitsui Financial Group (SMFG), Sumitomo Mitsui Trust Holding, Mitsubishi UFJ Financial (MTU) and Shinsei Bank have been shortlisted by Citigroup (C) as buyers for the U.S. bank's retail bank in Japan, the Wall Street Journal reports, citing sources. Citi could pick a buyer for the unit by the end of the year or early next year. Citigroup could sell its Diners Club branded credit card unit in Japan along with the retail bank, a source says. Reference Link
September 18, 2014
18:21 EDTXOMExxon Mobil suspends Arctic oil drilling due to sanctions, Bloomberg reports
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17:08 EDTXOMExxon Mobil continues to increase Wolfcamp Position in Permian Basin
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17:04 EDTXOMLINN Energy, LinnCo announce Permian-California trade with Exxon Mobil
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September 17, 2014
13:08 EDTDISDisney sees digital ownership up 37% year to date
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September 16, 2014
10:47 EDTXOMBadri sees OPEC lowering oil output target at next meeting, Reuters says
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09:31 EDTYOKUYouku Tudou downgraded to Mixed from Positive at OTR Global
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07:27 EDTDISBofA/Merrill to hold a conference
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07:19 EDTXOM, DISCompanies' share buybacks at fasttest clip since 2007, WSJ reports
Companies are buying back their own shares at its fastest pace since the financial crisis to fuel a stock rally, reports the Wall Street Journal. According to Birinyi Associates, companies have bought back $338.3B of stock in 1H14, the most since 2007. Citing an analysis by Barclays, companies with the largest buyback programs by dollar value have outperformed the broader market by 20% since 2008. Reference Link
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