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Stock Market & Financial Investment News

News Breaks
December 4, 2012
12:08 EDTDRI, MSPD, GERN, UEPS, BIDU, YOKU, SINA, PBY, BIG, GALEOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday in a lackluster trading session, with the Dow the leader and the Nasdaq the laggard. In the latest chapter of the unfolding fiscal cliff drama, President Obama’s administration rejected a Republican plan that did not include higher tax rates for wealthy Americans. The next batch of cliff headlines may come from an interview that President Obama has scheduled for this afternoon on Bloomberg Television... ECONOMIC EVENTS: No major economic data was released in the U.S. Internationally, the Reserve Bank of Australia cut its key benchmark interest rate to 3.00% from 3.25%, as expected, and the Bank of Canada maintained its target for its overnight rate at 1%... COMPANY NEWS: Darden Restaurants (DRI), the parent company of Olive Garden, Red Lobster and LongHorn Steakhouse, warned its profit for the current quarter and the year may fall well short of analyst expectations. The company, whose shares tumbled nearly 10% after the outlook announcement, blamed failed promotions and negative press on its tests to limit rising health care costs for its under performance... Among companies reporting quarterly results, Big Lots (BIG) advanced 9.7% while Pep Boys (PBY) declined 13.7%... A number of U.S.-listed Chinese companies traded lower after the SEC charged the Chinese subsidiaries of the four major U.S. accounting firms with refusing to cooperate in investigations of alleged accounting fraud at Chinese companies. Shares of Sina (SINA), Youku Tudou (YOKU) and Baidu (BIDU) were among those declining following the news... MAJOR MOVERS: Among the notable gainers were Galena Biopharma (GALE), up almost 10% after signing a commercialization partnership for its NeuVax drug with Teva (TEVA), and Mindspeed Technologies (MSPD), up 7% after raising its Q1 revenue view. Among the noteworthy losers was Net 1 UEPS (UEPS), which plunged 56% after disclosing the DOJ and FBI are investigating the company for potential violations of the Foreign Corrupt Practices Act. Also lower were shares of Geron (GERN), down 25% after it discontinued development of a treatment for brain cancer, announced job cuts and said its CFO is leaving the company to pursue other opportunities... INDICES: Near noon, the Dow was up 15.36, or 0.12%, to 12,980.96; the Nasdaq was down 11.77, or 0.39%, to 2,990.43; and the S&P 500 was down 1.88, or 0.13%, to 1,407.58.
News For DRI;BIG;PBY;SINA;YOKU;BIDU;UEPS;GERN;MSPD;GALE From The Last 14 Days
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October 17, 2014
08:11 EDTBIGBig Lots initiated with a Buy at Stifel
Target $58.
October 16, 2014
15:22 EDTGERNGeron volatility increases to 134
Geron overall option implied volatility of 134 is above its 26-week average of 106 according to Track Data, suggesting large price movement.
10:01 EDTBIDUOn The Fly: Analyst Upgrade Summary
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09:45 EDTDRIDarden expands board to 13, adds William Simon
Darden Restaurants (DRI) announced that William Simon has been appointed to the company's board, effective immediately. As a result of this action, the board also voted to expand the number of seats on the Board to 13. Simon, most recently the CEO of Walmart U.S. (WMT) and a former senior executive at Brinker (EAT), previously served on Darden's board for two years but did not stand for re-election. Darden said its board "will continue to evaluate additional qualified candidates and may, or may not, make an additional appointment to the Board in the future."
05:50 EDTBIDUBaidu upgraded to Outperform from Perform at Oppenheimer
Oppenheimer upgraded Baidu to Outperform with a $280 price target citing the recent pullback in shares and the company's increasing mobile market share.
October 14, 2014
10:41 EDTDRIDarden trading higher after Gene Lee named interim CEO
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09:05 EDTDRIDarden appoints Jeffrey Smith independent non-executive chairman of the board
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07:17 EDTGALEGalena receives notice of allowance of improvement patent for NeuVax in Japan
Galena Biopharma announced the notice of allowance from the Japanese Patent Office for NeuVax covering the use of NeuVax alone or in combination with other agents to prevent recurrence of any HER2/neu expressing breast cancer tumor having an immunohistochemistry level of 1+ or 2+, or a fluorescence in situ hybridization rating of less than about 2.0. NeuVax is a peptide immunotherapy for the prevention of cancer recurrence and is Galena's lead development agent in multiple ongoing and planned clinical trials. Once issued, the patent will expire in 2027, not including any patent term extensions.
October 13, 2014
13:22 EDTDRINorwegian Cruise Line names Drew Madsen as COO
Norwegian Cruise (NCLH) announced that hospitality veteran Drew Madsen has joined as president and COO of Norwegian Cruise Line. Madsen brings a strong track record of success to Norwegian with more than 30 years of leadership experience in the hospitality and consumer products industry, most recently as president and COO at Darden Restaurants (DRI) the world's largest full-service restaurant company.
10:08 EDTDRIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Bankrate (RATE) downgraded to Equal Weight from Overweight at Stephens... CME Group (CME) downgraded to Market Perform from Outperform at Wells Fargo... Cliffs Natural (CLF) downgraded to Neutral from Overweight at JPMorgan... Dana Holding (DAN) downgraded to Sector Perform from Outperform at RBC Capital... Darden (DRI) downgraded to Neutral from Overweight at Piper Jaffray... Dover (DOV) downgraded to Neutral at RW Baird... DryShips (DRYS) downgraded to Underperform from Outperform at Imperial Capital... Infineon (IFNNY) downgraded to Neutral from Overweight at JPMorgan... J.C. Penney (JCP) downgraded to Sell from Neutral at UBS... Johnson Controls (JCI) downgraded to Outperform from Top Pick at RBC Capital... Juniper (JNPR) downgraded to Hold from Buy at Argus... Kennametal (KMT) downgraded to Market Perform from Outperform at Wells Fargo... Masco (MAS) downgraded to Equal Weight from Overweight at Barclays... New Gold (NGD) downgraded to Neutral from Overweight at JPMorgan... ON Semiconductor (ONNN) downgraded to Sector Perform from Outperform at Pacific Crest... PBF Energy (PBF) downgraded to Underweight from Equal Weight at Barclays... Parker-Hannifin (PH) downgraded to Market Perform from Outperform at Wells Fargo... STMicroelectronics (STM) downgraded to Neutral from Overweight at JPMorgan... Silicon Laboratories (SLAB) downgraded to Sector Perform at Pacific Crest... VOXX International (VOXX) downgraded to Market Perform from Outperform at Cowen.
08:06 EDTSINA, YOKUQihoo 360 launches ad exchange platform, Marbridge Daily reports
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06:05 EDTDRIDarden downgraded to Neutral from Overweight at Piper Jaffray
Piper Jaffray downgraded Darden to Neutral citing a lack of leadership clarity after Starboard ousted the company's entire board of directors.
October 10, 2014
10:01 EDTDRIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
09:52 EDTDRIDarden resumes trading, up 1.8% after all Starboard nominees elected to board
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09:47 EDTDRIDarden confirms 12 Starboard-nominated directors to board
Darden announced that, based on the preliminary vote count provided by its proxy solicitor following the company's 2014 Annual Meeting, shareholders have elected all 12 Starboard-nominated directors to Darden's Board of Directors including Betsy Atkins, Margaret Shan Atkins, Jean Birch, Bradley Blum, Peter Feld, James Fogarty, Cynthia Jamison, William Lenehan, Lionel Nowell, III, Jeffrey Smith, Charles Sonsteby, and Alan Stillman. Darden noted that the preliminary vote count following the Annual Meeting also indicates that shareholders voted FOR the approval, on an advisory basis, of the company's executive compensation, for the ratification of the appointment of KPMG as Darden's independent registered public accounting firm for the fiscal year ending May 31, 2015, for a management proposal to amend the Company's bylaws to provide for proxy access and against two shareholder proposals as described in the company's associated Proxy Statement.
09:36 EDTDRIAll Starboard directors elected to Darden board, CNBC reports
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06:40 EDTDRIDarden up against Starboard at yearly meeting, Reuters says
Darden and Starboard Value are expected to enter into heated discussions at the company's yearly meeting, where Starboard is aiming to win full control of the restaurant company's board, reported Reuters. Reference Link
October 9, 2014
16:46 EDTDRIDarden initiated with a Market Perform at BMO Capital
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October 8, 2014
07:09 EDTGALEGalena reports Notice of Allowance of U.S. patent application for NeuVax
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06:04 EDTYOKUYouku Tudou appoints Teddy Gu as Chief Product Officer
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