New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 21, 2014
12:10 EDTEZPW, ITRI, VMW, EXTR, VRX, EMC, KNDI, AGNOn The Fly: Midday Wrap
Stocks on Wall Street began the session in negative territory and have remained there throughout the morning. The focus has been on the events in both Israel and Russia, which have pushed earnings into the background for now. The President spoke this morning and called for an immediate ceasefire in Gaza and for the Russian separatists to stop tampering with evidence. The losses remain moderate as investors remain concerned about the world stage but are bracing for a number of huge earnings reports this week, including the latest sales figures from Apple (AAPL), Microsoft (MSFT) and Verizon (VZ). ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity Index dipped to 0.12 in June from a reading of 0.16 in May. The index has been in positive territory, reflecting above trend growth, since February. COMPANY NEWS: Shares of EMC (EMC) advanced 4% after the Wall Street Journal reported, citing sources, that activist investor Elliott Management has taken a stake of over $1B in the data-storage company and plans to push it to break itself up. Elliott reportedly believes EMC's stock would get a boost from spinning off VMware (VMW), in which it owns an 80% stake. Shares of VMware were down a bit over 1% following the Journal's report... Allergan (AGN) rose about 2% after the company's Q2 results and its FY14 outlook beat expectations. The company, which is working to fend off a proposed acquisition by Valeant Pharmaceuticals (VRX), also announced plans to cut its workforce by about 1,500 employees as part of a broader restructuring effort. In related news, Valeant announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business." MAJOR MOVERS: Among the notable gainers was Extreme Networks (EXTR), which rose 15% after the company raised its Q4 earnings per share outlook and narrowed its Q4 revenue view. Also higher were shares of Chinese electric car maker Kandi Technologies (KNDI), which gained 10% after a Chinese newspaper reported that electric cars made outside of China would not qualify for a key tax break in the country, though domestically-made ones would. Among the noteworthy losers was EZCORP (EZPW), which dropped 12% after it appointed CFO Mark Kuchenrither as its interim CEO and President and its stock was downgraded to Neutral from Buy at Sidoti. Also lower were shares of Itron (ITRI), which fell 8% after Bank of America Merrill Lynch downgraded the stock two notches to Underperform from Buy, citing its view that meter deployments will not support the stock's current valuation given continued delays and lower than expected margins. INDEXES: Near midday, the Dow was down 72.05, or 0.42%, to 17,028.13, the Nasdaq was down 17.99, or 0.41%, to 4,414.15, and the S&P 500 was down 8.27, or 0.42%, to 1,969.95.
News For EMC;VMW;AGN;VRX;ITRI;KNDI;EXTR;EZPW From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | all recent news | >>
November 13, 2014
08:14 EDTVMWVMware initiated with a Buy at Maxim
Subscribe for More Information
08:14 EDTEMCEMC initiated with a Hold at Maxim
Subscribe for More Information
07:23 EDTAGN, VRXValeant wooing doctors ahead of hoped for Allergan acquisition, WSJ says
Subscribe for More Information
November 12, 2014
16:53 EDTAGNAllergan receives FDA approval for new styles of NATRELLE 410
Subscribe for More Information
15:08 EDTVMW, EMCEarnings Preview: Cisco reports amid analyst debate on break-up potential
Subscribe for More Information
14:08 EDTVMWIntel reports 427.7K share position in Rocket Fuel
Subscribe for More Information
10:09 EDTAGN, VRXActavis in talks to buy Allergan for over $200 per share, Bloomberg says
Subscribe for More Information
10:01 EDTAGNActavis in talks to buy Allergan for $60B, more than $200/share Bloomberg says
Actavis (ACT) is said to seek to pay about $200 per share, but Allergan (AGN) seeks about $210 per share, according to Bloomberg.
08:14 EDTEXTRExtreme Networks to provide Wi-Fi to University of Maryland sports venues
Extreme Networks and SignalShare announced that the University of Maryland has selected the companies to deliver high-density Wi-Fi at the Terp's XFINITY Center basketball arena and Maryland's Capital One Field at Byrd Stadium, home to the school's Division I football and lacrosse teams.
07:01 EDTAGNAllergan announces approval of amendments to company bylaws
Subscribe for More Information
06:22 EDTAGN, VRXZoetis price target raised to $49 from $44 at Citigroup
Citigroup raised its price target for Zoetis (ZTS) shares to $49 after activist Pershing Square confirmed the accumulation of a 10% stake in the company. Citi thinks Pershing is interested in advocating for a sale of Zoetis, potentially to Valeant (VRX) if its bid for Allergan (AGN) fails. Citi believes others, including Bayer (BAYRY), could be interested in acquiring Zoetis. It keeps a Buy rating on the stock.
November 11, 2014
16:24 EDTVRXOn The Fly: Closing Wrap
Subscribe for More Information
15:46 EDTAGN, VRXPershing Square, Sachem Head build 10% stake in Zoetis, WSJ reports
Subscribe for More Information
12:09 EDTVMWRackspace soars after Q3 results top estimates, $500M share buyback plan
Subscribe for More Information
08:42 EDTEMC, VMWEMC returns could be limited after potential spin off, says Bernstein
Subscribe for More Information
08:32 EDTAGN, VRXValeant likely to raise offer for Allergan again, says Bernstein
Subscribe for More Information
07:32 EDTKNDIKandi Technologies volatility low into corporate analyst meeting
Kandy Technologies overall option implied volatility of 69 compares to its 26-week average of 73 according to Track Data, suggesting decreasing price movement into a corporate analyst meeting.
November 10, 2014
16:44 EDTKNDIOn The Fly: Closing Wrap
Subscribe for More Information
09:43 EDTKNDIKandi Technologies reports Q3 EPS 12c vs. (87c) last year
Reports Q3 revenue $44.21M vs. $17.15M last year. The company said, "The Car-Share Program has been highly recognized and well received by the customers, we believe our EV business model will be expanded to more EV pilot cities in China. We are also thrilled with our recent partnership with Ant Financial Services Group to launch Alipay, including Alipay Wallet services and technology platform, to Kandi's EV end users. We hope to raise the market awareness of the Kandi brand through the 300 million registered Alipay users."
November 9, 2014
13:26 EDTAGN, VRXAckman's Allergan court win may prove costly down the road, Bloomberg says
When U.S. District Court Judge David Carter ruled on November 4 that Pershing Square can vote its 9.7% stake in Allergan (AGN) in a shareholder ballot aiming to remove Allergan directors, he also noted that there were “serious questions” regarding insider trading rules in the way Pershing Square acquired Allergan stock while preparing a bid with Valeant (VRX), says Bloomberg. Reference Link
1 | 2 | 3 | 4 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use