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Stock Market & Financial Investment News

News Breaks
June 10, 2014
16:28 EDTEHTH, AGN, RCPT, COUP, FB, INO, VRX, EBAYOn The Fly: Closing Wrap
Stocks on Wall Street began the day slightly below the flat line and remained there for most of the session, before a late move higher allowed the Dow to run its recent winning streak to another day, though just barely. Economic reports from at home and abroad, which included wholesale trade data in the U.S. and inflation data from China, had little effect on the market, which seemed content to spend the session drifting. The Dow and S&P 500 stand just short of major round-number milestones, but both will have to wait at least another day to see if they can be reached. ECONOMIC EVENTS: In the U.S., wholesale inventories rose 1.1% in April, with sales up 1.3%, which were both better than forecast. The JOLTS report showed job openings climbed 289K to 4.46M in April. In China, official data showed an index of consumer prices rose 2.5% year-on-year in May, while China's producer price index contracted 1.4% during the month. COMPANY NEWS: Shares of eBay (EBAY) closed down $1.33, or 2.68%, to $48.25 after the company announced last night that PayPal President David Marcus is leaving the company to lead Facebook’s (FB) messaging products. Facebook shares reacted positively to the executive hiring, rising $2.89, or 4.6%, to $65.77... Allergan (AGN) once again rejected Valeant (VRX), saying that the higher takeover bid it made in concert with Bill Ackman's hedge fund Pershing Square still "substantially undervalues the company [and] creates significant risks and uncertainties for the stockholders of Allergan." Further, Allergan said its board has "serious concerns" about the large stock component of the proposal and that the latest Valeant offer does not warrant talks between the companies. Following the latest reproach, BMO Capital said it believes the fight between the two is still in the "early innings" and could last well into 2015. Shares of Allergan slipped $1.06, or 0.65%, to $163.09, while Valeant fell $1.08, or 0.85%, to $125.55. MAJOR MOVERS: Among the notable gainers was hepatitis C treatment maker Achillion (ACHN), which surged $3.54, or 83.29%, to $7.79 after the company announced today that it had received favorable news from the FDA about resuming certain clinical trials. Achillion's advance comes on top of its 47% move higher yesterday after Merck (MRK) announced that it would acquire another company in the HCV drug space at a significant premium. Also higher was Receptos (RCPT), which jumped $10.74, or 36.78%, to $39.94 after the company reported phase 2 data for its SIPI modulator that firms Leerink and BMO Capital both viewed positively. Among the noteworthy losers was Inovio Pharmaceuticals (INO), which fell $1.44, or 13.36%, to $9.34 after TheStreet's Adam Feuerstein speculated that the company already has data in hand for its phase II study of its vaccine for cervical pre-cancerous lesions and warned of "red flags" related to the company's CEO "walking back expectations" ahead of a potential disclosure that the trial was not a success. Also lower were shares of eHealth (EHTH), which fell $5.09, or 13.05%, to $33.91 after Jefferies downgraded the stock to Hold and lowered its price target for shares to $40 from $62, citing less confidence in the company's Exchange opportunity following management comments at the firm's conference. Another stock moving lower following a downgrade was Coupons.com (COUP), which dropped $2.95, or 10.6%, to $24.88 after Goldman downgraded the shares to Sell from Neutral. INDEXES: The Dow was up 2.82, or 0.02%, to 16,945.92, the Nasdaq was up 1.75, or 0.04%, to 4,338.00, and the S&P 500 was down 0.48, or 0.02%, to 1,950.79.
News For EBAY;FB;AGN;VRX;COUP;EHTH;INO;RCPT From The Last 14 Days
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August 17, 2015
19:54 EDTFBComcast online video platform to give creators 70% share of ad revenue, WSJ says
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19:29 EDTFBFacebook tests expanded blog capabilities, CNET says
Facebook (FB) is testing an expanded version of its "notes" feature, allowing users to include large background photos in the blog-like service, reports CNET. The new look puts the service more in line with Yahoo's (YHOO) Tumblr blogging platform, said the report, and a Facebook spokesperson remarked that the test aims to "make it easier for people to create and read longer-form stories on Facebook." Reference Link
16:00 EDTFBOptions Update; August 17, 2015
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13:05 EDTEBAYeBay initiated with a Hold at Evercore ISI (pre-open)
Pre-open, Evercore ISI initiated eBay with a Hold rating and $28 price target. The firm sees balanced potential catalysts against a fundamental story that remains challenged due to increased competitive pressures.
09:38 EDTFBActive equity options trading on open
Active equity options trading on open: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT
August 16, 2015
18:01 EDTVRXSenators question Valeant, Hospira on 'artifically inflated' drug prices
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August 14, 2015
17:32 EDTAGNPershing Square gives quarterly update on stakes, liquidates Allergan position
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17:08 EDTVRX, AGNPaulson & Co gives quarterly update on stakes
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16:57 EDTFBSoros gives quarterly update on stakes, increases Facebook position
NEW STAKES: Time Warner Cable (TWC), Schwab (SCHW), Alcoa (AA), NRG Energy (NRG), and Pacira (PCRX). INCREASED STAKES: Facebook (FB), Monsanto (MON), Nextera (NEE), Qunar (QUNR), and Rovi (ROVI). DECREASED STAKES: Alibaba (BABA), General Motors (GM), Motorola Solutions (MSI), EQT Corp (EQT), and Noble Energy (NBL). LIQUIDATED STAKES: Cenovus (CVE), Kite Pharma (KITE), Tempur Sealy (TPX), CF Industries (CF), and Suncor Energy (SU).
16:00 EDTFBOptions Update; August 14, 2015
iPath S&P 500 VIX Short-Term Futures down 4c to 16 Option volume leaders: AAPL FB BAC MU NFLX TWTR HUN TSLA BABA MSFT RAD CSCO JCP AMZN SUNE
15:33 EDTAGNEndo confirms court ruling upholding OPANA ER intellectual property
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14:15 EDTAGNEndo successful in blocking Opana generic until 2023, Bloomberg reports
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12:29 EDTFBComcast to launch online video platform called Watachable, Business Insider says
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12:29 EDTFBKing Digital sinks after posting weaker than expected network metrics
Shares of King Digital (KING), an interactive entertainment company for the mobile world, are sinking after the company reported weaker than expected network metrics in the second quarter. WHAT'S NEW: After the close on Thursday, King Digital reported Q2 adjusted earnings per share of 49c and revenue of $500M, ahead of analysts' consensus estimates of 43c and $490.03M, respectively. King reported Q2 total gross bookings of $529M, above the high end of its previously provided guidance range, but down 12% sequentially and 13% year over year. Excluding the impact of changes in foreign exchange rates, King said gross bookings would have decreased by approximately 11% sequentially, and by approximately 6% y/y. King noted that 81%, or $430M, of gross bookings were derived from the mobile audience. The company said "Candy Crush Saga," "Candy Crush Soda Saga" and "Farm Heroes Saga" ranked within the top 10 grossing games in App Store and Play Store in the U.S. during Q2. King said its monthly unique users fell 1% to 340M in Q2, down from 345M last year, while monthly active users were 501M vs. 485M last year; daily active users were 142M in Q2 vs. 138M last year. The company said year-over-year increases in monthly active users and daily active users were primarily due to the introduction of new games, particularly "Candy Crush Soda Saga," partially offset by decline in "Candy Crush Saga" and other more mature games. It said increases also reflect growth in activity from mobile players, partially offset by continued decrease in activity from Facebook (FB) players. WHAT'S NOTABLE: Looking ahead, King Digital said it expects gross bookings in the third quarter of $460M-$485M based on the timing of game releases and recent trends. The company sees fourth quarter bookings "fairly consistent sequentially." ANALYST REACTION: This morning, JPMorgan analyst Doug Anmuth downgraded King Digital Entertainment to Neutral from Overweight citing an elevated risk profile following the company's Q2 results. King's network metrics were weaker than expected while a key component of the company's pipeline, the upcoming mid-core game, is pushed to 2016, Anmuth said. He cut the price target for shares to $17 from $20. PRICE ACTION: In early afternoon trading, King Digital fell $1.81, or 11.84%, to $13.40 on nearly four times its average daily trading volume. Including today's pull back, the shares have lost approximately 3% over the past year. OTHERS TO WATCH: Other companies in the mobile gaming space include Glu Mobile (GLUU), Zynga (ZNGA), Shanda Games (GAME), Activision Blizzard (ATVI), Electronic Arts (EA) and Take-Two Interactive (TTWO).
11:24 EDTFBStocks with call strike movement; AAL FB
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10:13 EDTFBAnalyst says Twitter CEO decision could come next week
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09:37 EDTFBActive equity options trading on open
Active equity options trading on open: AAPL TWTR FB NFLX TSLA QIHU JCP BABA BP
08:35 EDTVRXHayman takes Mylan, Perrigo stakes, boasts exposure to energy
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07:37 EDTAGN, EBAYJANA reports new stakes in Allergan, TWC, sells Applied Materials
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06:21 EDTFBFacebook's Parse open-sources all software development kits
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