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Stock Market & Financial Investment News

News Breaks
July 28, 2014
12:21 EDTESRX, PPC, ACRX, DG, CVS, TSN, TRLA, FDO, HSH, HZNP, Z, DLTROn The Fly: Midday Wrap
Stocks on Wall Street opened in negative territory and have remained there throughout the morning. The averages were narrowly lower in early trading, but picked up some downside momentum following the lower than expected pending home sales report. The market eventually found a level where it reversed and began drifting off its lows. By noon the averages returned to roughly where they sat prior to the homes data, as investors prepare for another heavy week of earnings, reports on GDP and labor market growth and a Federal Reserve decision on monetary stimulus. ECONOMIC EVENTS: In the U.S., the pending home sales index dropped 1.1% from the prior month to 102.7 in June, compared to expectations for it to have risen 0.5%. Markit's services PMI for July came in at 61.0 in the flash reading, which was flat with the prior reading and above the 59.8 consensus forecast. COMPANY NEWS: Dollar Tree (DLTR) agreed to acquire Family Dollar (FDO) in a cash and stock transaction estimated to be worth $74.50 per Family Dollar share. The transaction, which values Family Dollar at an enterprise value of about $9.2B and is expected to close by early 2015, was called the "best path forward" for Family Dollar by Nelson Peltz's Trian Fund, which disclosed that it will vote its 7.34% Family Dollar stake in favor of the buyout. Another company in the space, Dollar General (DG), which many investors thought would be the one to pursue a deal with Family Dollar, was initially lower after the deal announcement but Dollar General shares recovered to be up about 3% near noon, while Dollar Tree also climbed 3% and Family Dollar jumped 23%... Real estate website operator Zillow (Z) confirmed a deal to buy its rival, Trulia (TRLA), in a $3.5B, all-stock transactions. Reports about the deal first surfaced last week and Zillow fell 2.5% after the news, while Trulia climbed 12%. MAJOR MOVERS: Among the notable gainers was Tyson Foods (TSN), which rose more than 4% after reporting better than expected third quarter revenues, updating on its planned purchase of Hillshire (HSH) and agreeing to sell its poultry businesses in Mexico and Brazil to Pilgrim's Pride (PPC). Among the noteworthy losers was AcelRx (ACRX), which plunged 41% and was downgraded at Canaccord after the FDA issued a Complete Response Letter for the company's Zalviso drug. Also lower was Horizon Pharma (HZNP), which dropped 34% after it said it has been verbally notified that in August two pharmacy benefit managers, CVS Caremark (CVS) and Express Scripts (ESRX), expect to announce DUEXIS and VIMOVO will no longer be on their formularies and will be placed on their exclusion lists effective at the start of 2015. INDEXES: Near midday, the Dow was down 32.82, or 0.19%, to 16,927.75, the Nasdaq was down 18.96, or 0.43%, to 4,430.60, and the S&P 500 was down 4.56, or 0.23%, to 1,973.78.
News For DLTR;FDO;DG;Z;TRLA;ACRX;HZNP;TSN;PPC;HSH;CVS;ESRX From The Last 14 Days
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November 19, 2014
09:16 EDTZMessara says Zillow shares could reach $770, Bloomberg reports
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08:31 EDTDLTR, FDOFamily Dollar reschedules special meeting of shareholders to December 23
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06:39 EDTFDO, DGDollar General may have to sell over 4K stores for deal approval, NY Post says
The Federal Trade Commission may require Dollar General (DG) to sell more than 4,000 of its stores to gain approval of its deal to buy Family Dollar (FDO), according to The New York Post. Dollar General had previously said that it was willing to sell 1,500 of its stores to facilitate the deal, the newspaper stated. Reference Link
November 18, 2014
16:12 EDTHZNPHorizon Pharma reports positive effect of RAYOS in reducing joint stiffness
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07:30 EDTTSNMorgan Stanley to hold a conference
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November 17, 2014
14:13 EDTZZillow's Agentfolio to shut down
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10:29 EDTTSNTyson advances after profit beats expectations
Shares of meat producer Tyson Foods (TSN) are climbing after the company reported higher than expected profits and roughly in-line revenue. The company also made optimistic comments about the outlook for its meat products. WHAT'S NEW: Tyson reported fourth quarter earnings per share, excluding some items, of 87c, versus analysts' consensus estimate of 76c. The company's Q4 revenue of $10.11B was roughly in-line with expectations. Tyson provided fiscal 2015 EPS guidance of $3.30-$3.40, versus the consensus outlook of $3.33. However, the meat producer's fiscal 2015 revenue guidance came in at $42B, compared with the consensus outlook of $42.51B. Tyson expects its chicken segment to generate a 7%-9% return on sales over the long-term, but a return on sales of more than 10% in fiscal 2015. Hillshire Brands, which was acquired by Tyson earlier this year, should generate revenue synergies of $4B in fiscal 2015, added Tyson. Meanwhile, demand for beef is "very strong," and pork margins should be good in 2015, the meat producer stated. PRICE ACTION: In late morning trading, Tyson gained 4% to $42.34. Other meat producers also advanced, with Sanderson Farms (SAFM) rising 0.5% to $84.17 and Hormel Foods (HRL) gaining 0.6% to $54.84.
09:49 EDTTSNTyson Foods says 'very optimistic' about demand in chicken segment
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09:26 EDTTSNTyson says demand for beef 'very strong'
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09:22 EDTTSNTyson Foods trades higher after earnings, levels to watch
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09:22 EDTTSNOn The Fly: Pre-market Movers
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09:00 EDTDGDollar General says now accepting American Express cards
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07:35 EDTTSNTyson Foods sees Hillshire acquisition adding $4B in revenues in FY15
The company says "We expect to realize substantial synergies from combining our Prepared Foods business with Hillshire Brands. Synergies are expected to come primarily from operational improvements, purchasing and distribution. As we execute our Prepared Foods strategy, we estimate the impact of the Hillshire Brands synergies, along with the cost savings and the production efficiencies associated with the previously announced plant closures, will positively impact our Prepared Foods segment by more than $225 million in fiscal 2015, and more than $500 million by the third full year of ownership. As we continue to integrate these businesses and deliver the first year synergies, the near-term results for fiscal 2015 are expected to be above the top end of our prior range of 6% despite a projected increase in raw material costs. However, as a result of the improvements we have made in our Prepared Foods business, our acquisition of Hillshire Brands and the significant synergies we expect to realize over the next few years, we believe the long-term profitability of this business should be between 10-12%."
07:35 EDTTSNTyson Foods sees FY15 sales $42B, consensus $42.51B
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07:33 EDTTSNTyson Foods sees FY15 adjusted EPS $3.30-$3.40, consensus $3.33
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07:32 EDTTSNTyson Foods reports Q4 adjusted EPS 87c, consensus 76c
Reports Q4 revenue $10.11B, consensus $10.16B.
November 14, 2014
17:27 EDTFDOPaulson & Co. gives quarterly update on stakes
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16:39 EDTESRXBerkshire Hathaway gives quarterly update on stakes
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14:53 EDTCVS, ESRXCVS Express Scripts implementing drug price controls, says Cleveland Research
Cleveland Research believes that CVS (CVS) and Express scripts are implementing rebates and price controls on drug. The firm expects the companies to increase their focus on controlling durg prices next year, and adds that they have already itnroduced prior authorization criteria for hepatitis drug. Publicly traded drug companies include AstraZeneca (AZN), Bristol-Myers (BMY), Eli Lilly (LLY), GlaxoSmithKline (GSK), Johnson & Johnson (JNJ), Merck (MRK), Novartis (NVS), Pfizer (PFE), Roche (RHHBY) and Sanofi (SNY). Makers of hepatits c drugs include AbbVie (ABBV) and Gilead (GILD),
08:06 EDTHZNPHorizon Pharma 11.66M share Secondary priced at $12.05
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