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Stock Market & Financial Investment News

News Breaks
July 28, 2014
12:21 EDTDLTR, CVS, HSH, PPC, TSN, HZNP, ACRX, TRLA, Z, DG, FDO, ESRXOn 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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October 24, 2014
07:56 EDTACRXAcelRx management to meet with BofA/Merrill
Meeting to be held in New York on October 29 hosted by BofA/Merrill.
October 23, 2014
07:42 EDTHZNPPOZEN receives three patents from USPTO
POZEN (POZN) announced that it has received three patents from the United States Patent and Trademark Office, entitled “Pharmaceutical Compositions for the Coordinated Delivery of NSAIDs” that cover the U.S. approved product VIMOVO. All three patents are expected to expire in 2022. Horizon Pharma (HZNP), which holds the U.S. NDA for VIMOVO, and POZEN plan to list U.S. patents 8,858,996 and 8,852,636 in the FDA's Approved Drug Products with Therapeutic Equivalence Evaluations, or Orange Book.
06:46 EDTDLTRDollar Tree removed from the short-term buy list at Deutsche Bank
Deutsche Bank removed Dollar Tree from the short-term buy list due to an automatic 6-month time demotion.
October 22, 2014
13:51 EDTTRLATrulia November volatility elevated into Q3 and outlook
Trulia November call option implied volatility is at 76, December is at 69, January is at 63, March is at 58, June is at 52; compared to its 26-week average of 53 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on October 29.
09:23 EDTESRXExpress Scripts getting more aggressive on pricing, says Cleveland Research
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07:19 EDTACRXAcelRx's Zalviso for abdominal pain shows positive Phase 3 results
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October 21, 2014
17:27 EDTFDO, DG, DLTRFamily Dollar certifies substantial compliance with FTC
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08:03 EDTCVSCVS offering drug plan with higher co-pay at stores selling tobacco, WSJ says
CVS Health (CVS), which stopped selling tobacco products last month, is now offering a prescription-drug plan via its pharmacy benefits unit Caremark that charges patients copayments that are up to $15 higher on prescriptions filled where tobacco is sold, which includes at rival pharmacies operated by Walgreen (WAG) and Rite-Aid (RAD), reported The Wall Street Journal. Reference Link
October 20, 2014
08:31 EDTDLTR, FDOFamily Dollar sets Oct. 30 as record date for special meeting of stockholders
Family Dollar Stores (FDO) announced that October 30, 2014 has been established as the record date for determining stockholders entitled to receive notice of, and to vote at, the Special Meeting of Stockholders, at which stockholders will be asked to adopt the previously announced merger agreement, as amended, with Dollar Tree (DLTR).
07:24 EDTZZillow November weekly volatility elevated into Q3 and outlook
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October 17, 2014
17:36 EDTFDOFamily Dollar says will review Elliot notice on directors in due course
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16:09 EDTDG, DLTR, FDOElliott Advisors expresses concerns over Family Dollar merger, nominates slate
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11:14 EDTPPCPilgrim's Pride recovers some lost ground, levels to watch
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10:00 EDTDG, DLTROn The Fly: Analyst Initiation Summary
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09:07 EDTTSN, PPCProtein stock pullback on Sanderson comments overdone, says BMO Capital
BMO Capital views yesterday's decline in Sanderson Farms (SAFM), Pilgrim's Pride (PPC) and Tyson Foods (TSN) as an overreaction to Sanderson's comments regarding breast prices falling to year-ago levels for the next four months. BMO notes that breast prices always dip in the fall. Following Sanderson's investor day, BMO said it sees a greater probability of chicken margins remaining at near-record levels in 2015. It keeps an Outperform rating on the stock.
08:11 EDTDGDollar General initiated with a Buy at Stifel
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08:11 EDTDLTRDollar Tree initiated with a Buy at Stifel
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07:45 EDTHZNPHorizon Pharma to host conference call
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07:39 EDTTSN, PPCChicken stock sell-off yesterday overdone, says JPMorgan
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07:04 EDTHZNPHorizon Pharma acquires U.S. rights to PENNSAID 2% for $45M
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