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Stock Market & Financial Investment News

News Breaks
March 28, 2014
11:12 EDTECYT, INSM, CONN, YONG, LULUOptions with decreasing implied volatility: ECYT INSM CONN YONG LULU
News For ECYT;INSM;CONN;YONG;LULU From The Last 14 Days
Check below for free stories on ECYT;INSM;CONN;YONG;LULU the last two weeks.
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September 2, 2014
16:25 EDTCONNOn The Fly: Closing Wrap
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12:09 EDTCONNOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday, with the Nasdaq clinging to narrow gains and the Dow and S&P both down about 0.25%. Stocks began the session basically unchanged but turned mixed within minutes of the open. The volume has been light and the market has moved in a narrow range, continuing the type of pattern that was seen all of last week ahead of the holiday. ECONOMIC EVENTS: In the U.S., Markit's final manufacturing PMI for August dipped slightly from the flash print of 58.0 to 57.9, but that was up from July's 55.8 reading. ISM's manufacturing index for August climbed to 59.0 from 57.1 in July, beating expectations. Construction spending bounced back 1.8% in July, beating expectations for it to have risen 1.0% after declining in the prior month. In Asia, HSBC's final manufacturing PMI for China edged down to 50.2 from the preliminary 50.3 August reading, which was already down from the 51.7 report in July. The Chinese government's official purchasing managers index came in at 51.1 for August, which was down from its 51.7 reading in July. In Europe, the Eurozone's final manufacturing PMI for August was revised down to 50.7 from 51.8 in the preliminary reading. COMPANY NEWS: Apple (AAPL) was in the headlines following a celebrity photo hack involving several of its iCloud accounts. Despite the negative publicity from those events, the stock gained nearly 1% after noted Piper Jaffray analyst Gene Munster raised his price target on the tech giant's shares to $120 from $105, citing the upcoming launch of new products and services. Another firm, Cantor, said in its own note to investors that it believes that Apple will have its most exciting product launches "in many years" over the next few months... In M&A news, Dollar General (DG) rose almost 1% after increasing its all-cash proposal to buy Family Dollar (FDO) to $80.00 per share and also increasing the number of stores that it would be willing to agree to divest to 1,500 if ordered by the FTC. Shares of Family Dollar, which previously rejected Dollar General's prior proposal on the basis of antitrust regulatory concerns, traded above the new offer price, while Dollar Tree (DLTR), which currently has a merger agreement deal in place with Family Dollar, also gained 1.5%. MAJOR MOVERS: Among the notable gainers were two other companies involved in M&A, one which was a buyer and one which was bought. Norwegian Cruise Line (NCLH) advanced 12% after agreeing to acquire upscale peer Prestige Cruises for $3.03B, while Compuware (CPWR) rose over 12% after the company confirmed it agreed to be acquired by private equity investment firm Thoma Bravo in a transaction valued at approximately $2.5B. Among the noteworthy losers was Exelixis (EXEL), which plunged 53% after its phase 3 pivotal trial of cabozantinib in certain men with metastatic castration-resistant prostate cancer did not meet its primary endpoint and the stock was downgraded by at least three Street research firms. Also lower was lease-to-own retailer CONN'S (CONN), which dropped 30% and was downgraded at Piper Jaffray after weakness in its credit operations prompted a Q2 earnings miss and caused the company to cut its fiscal year guidance. INDEXES: Near midday, the Dow was down 43.58, or 0.25%, to 17,054.87, the Nasdaq was up 2.97, or 0.06%, to 4,583.24, and the S&P 500 was down 4.83, or 0.24%, to 1,998.54.
11:07 EDTCONNConn's shares fall after missing Q2 estimates, lowering FY guidance
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10:34 EDTCONNConn's tumbles after earnings and outlook
The shares are down over 29.7% at time of writing to $31.44. At that price, support is at the session low at $31.01 and then at $29.30. Price is currently near what had previously been the 52-week low area. Resistance is at $33.16.
10:29 EDTCONNHigh option volume stocks
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09:36 EDTCONNConn's downgraded to Neutral from Overweight at Piper Jaffray
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08:56 EDTCONNOn The Fly: Pre-market Movers
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07:59 EDTCONNConn's lowers FY15 adjusted EPS view to $2.80-$3.00 from $3.40-$3.70
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07:56 EDTCONNConn's CEO says credit operations ran into unexpected headwinds
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07:54 EDTCONNConn's reports Q2 adjusted EPS 48c, consensus 75c
Reports Q2 revenue $353.0M, consensus $353.65M. Reports Q2 same-store sales up 11.7%. Reports credit segment operating income declined $7.7M to an operating loss of $0.2M. The percentage of the customer portfolio balance 60+ days delinquent increased 70 basis points sequentially to 8.7% as of July 31 and credit segment provision for bad debts on an annualized basis was 13.9% of the average outstanding portfolio balance in the current quarter and 11.1% on an annualized basis for the first six months of fiscal 2015.
06:21 EDTCONNStocks with implied volatility top IV index mean; CONN ACHN
Stocks with implied volatility top IV index mean; Conn's (CONN) 67, Achillion (ACHN) 111 according to iVolatility.
August 29, 2014
14:55 EDTCONNConn's September 45 straddle priced for 13.9% move into Q2
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14:37 EDTCONNConn's technical comments ahead of results
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12:49 EDTCONNStocks with increasing volume options volume
Stocks with increasing volume options volume: OXY HD RSH UTHR IRF TTWO CONN
August 28, 2014
12:26 EDTLULUlululemon retreats following DA Davidson downgrade
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09:57 EDTLULUOn The Fly: Analyst Downgrade Summary
Brown Forman (BFA, BFB, BF.A, BF.B) downgraded to Hold from Buy at Deutsche Bank... GT Advanced (GTAT) downgraded to Underperform from Market Perform at Raymond James... Genuine Parts (GPC) downgraded to Neutral from Buy at SunTrust... InterMune (ITMN) downgraded to Neutral from Buy at UBS... Tesco (TSCDY) downgraded to Hold from Buy at Deutsche Bank... Visa (V) downgraded to Market Perform from Outperform at Raymond James... Williams-Sonoma (WSM) downgraded to Equal Weight from Overweight at Morgan Stanley... Bob Evans (BOBE) downgraded to Underweight from Equal Weight at Stephens... lululemon (LULU) downgraded to Neutral from Buy at DA Davidson... J.C. Penney (JCP) downgraded to Neutral from Buy at BTIG.
09:55 EDTLULULululemon Athletica September volatility elevated into Q2
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08:14 EDTLULUlululemon downgraded to Neutral from Buy at DA Davidson
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06:29 EDTCONNConn's September volatility elevated into Q2 and outlook
Conn's September call option implied volatility is at 65, October is at 53, January is at 46; compared to its 26-week average of 58 according to Track Data, suggesting large near term price movement into the expected release of Q2 results on September 2.

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