New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 13, 2011
12:36 EDTNWSA, GLUU, TRH, SINA, CLNE, WAG, ERTS, VR, RENN, BSYBY, KCI, TSPT, CHKOn The Fly: Mid-Day Wrap
Stocks on Wall Street were higher at mid-day, helped along by Fed Chairman Bernanke's comments that the central bank is ready to ease monetary policy if the economy weakens and inflation moves lower. Stock futures were higher throughout the pre-market trading session, leading to a higher open for the broader market. The market has been strong all day, moving to session highs following Bernanke’s statements that the Fed was prepared to accommodate or tighten monetary policy depending on what the economy would need to stay on track. The Fed chairman is still in the Q&A phase of his testimony and has fielded questions on the debt ceiling, default, unemployment and oil prices... Mortgage applications showed a decrease of more than 5% for the second straight month... Crude oil inventories decreased by 3.12M barrels, which was more than the called for 1.50M draw down. Gasoline inventories also dropped more than expected, drawing down by 840,000 versus consensus expectations of 500,000. In contrast, distillate inventories grew by 2.97M, versus projections for a 500,000 build... Reports showed that China's economy grew at a 9.5% annual rate in Q2, down from 9.7% in Q1, but slightly stronger than expected... MARKET NEWS: After market close yesterday, Electronic Arts (ERTS) announced it will acquire PopCap Games for as much as $1.3B, placing the console game maker in better position to compete with the soon-to-IPO Zynga. The Fly notes that shares of Glu Mobile (GLUU) have moved higher on PopCap's acquisition news... Kinetic Concepts (KCI) will be acquired by a consortium of funds for $68.50 per share in cash, in a transaction valued at $6.3B... Walgreen (WAG) authorized new $2B share repurchase program and increased its quarterly dividend to 22.5c per share from 17.5c... News Corp. (NWSA) dropped its bid for British Sky Broadcasting (BSYBY), commenting that, "it is too difficult to progress in this climate"... MAJOR MOVERS: Notable gainers included Clean Energy Fuels (CLNE), continuing the strong move up that began yesterday, after the company entered at joint venture with Cheseapeake (CHK) that netted it a $150M investment, and Renren (RENN), possibly benefiting from news out of EA and SINA (SINA). Noteworthy losers included Transcept Pharmaceuticals (TSPT), which fell after the company said it failed to win FDA clearance for its insomnia drug, and Validus Holdings (VR), following the announcement of the company's plans to merge with Transatlantic Holdings (TRH)... INDICES: Near 12:30 am EST, the Dow was up 150.95, or 1.21%, to 12,597.83; the Nasdaq was up 41.34, or 1.49%, to 2,823.25; and the S&P 500 was up 16.67, or 1.27% to 1,330.31.
News For ERTS;GLUU;KCI;WAG;NWSA;BSYBY;CLNE;CHK;RENN;SINA;TSPT;VR;TRH From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
April 14, 2015
10:50 EDTSINAOptions with increasing implied volatility
Subscribe for More Information
10:31 EDTCHKAELP says McClendon did not approve Chesapeake settlement
Aubrey McClendon and American Energy Partners, LP responded to the announcement by American Energy – Utica and The Energy & Minerals Group that Chesapeake Energy (CHK) has dismissed AEU and the John Doe Defendants 1-20 from the lawsuit filed by Chesapeake on February 17. The statement read, "AEU apparently chose to settle with Chesapeake before any discovery was taken, evidently for the business purpose of mitigating further damage that Chesapeake's litigation has been having on AEU's business and financing activities. AEU has the right to resolve the case in this fashion, but this resolution should not be mistaken as reflecting an informed view of the merits of Chesapeake's claims or a concession of any liability by any party to Chesapeake. Although Mr. McClendon is a director and the single largest non-institutional shareholder in AEU, he did not approve the settlement and neither he nor AELP were advised of the negotiated terms of this settlement. AELP and Mr. McClendon will continue their efforts to have the dispute arbitrated as required by Mr. McClendon's agreements with Chesapeake. As he will show in the appropriate forum, Mr. McClendon rightfully possesses an extensive array of information about more than 16,000 wells, and the related leasehold acreage and future wells, he jointly owns with Chesapeake, including land, well, title, accounting, geological, engineering, reservoir, operating, marketing, and performance information. Mr. McClendon's well-documented agreements with Chesapeake gave him the right to own and use this information for his own purposes, including sharing it with his employees, contractors, advisors, consultants and affiliated entities."
10:16 EDTCHKAmerican Energy - Utica dismissed from Chesapeake lawsuit
Subscribe for More Information
06:20 EDTNWSAAmazon, HarperCollins reach agreement on publishing pact, WSJ reports
Subscribe for More Information
06:06 EDTCLNEClean Energy begins fueling at two new CNG stations in Southern California
Subscribe for More Information
April 13, 2015
16:21 EDTSINAOn The Fly: Top stock stories for Monday
Subscribe for More Information
13:26 EDTSINAOn The Fly: Top stock stories at midday
Stocks on Wall Street were mixed at midday, with the Dow and S&P 500 slightly lower and the Nasdaq clinging to a narrow gain. The broader market opened in positive territory and the averages moved in a narrow trading range during the morning. The Nasdaq has been the strongest of the indices since the open, though early gains from Apple (AAPL) and Qualcomm (QCOM) had evaporated by near midday, taking a bite out of the gains the index had been seeing earlier in the session. ECONOMIC EVENTS: In the U.S., no major economic data was released. In China, export sales unexpectedly contracted 15% in March, while imports shrank 12.7% last month from a year ago. The March fall in imports was in line with forecasts, unlike the one for exports, which were expected to rise 12%. COMPANY NEWS: Activist investor Jana Partners is putting pressure on Qualcomm to increase stock buybacks and take other actions to increase shareholder value, including an exploration of spinning off its chip unit from its patent-licensing unit. In response to statements made by JANA, Qualcomm noted that it recently increased its stock repurchase authorization to $15B and repeated that it plans to repurchase $10B of common stock within one year. Barry Rosenstein of JANA Partners, while speaking on CNBC, said Qualcomm should buy back $15B of its shares over the next six months, before the company undertakes strategic actions that could move the stock higher... Apple shares were rising early in the trading day but had given up their gains by midday. Pre-orders of its new Apple Watch started Friday. The company did not release any sales figures for the first weekend, but research firm Slice Intelligence estimated that nearly one million customers in the U.S. preordered the device on the first day it was available. MAJOR MOVERS: Among the notable gainers were Alamos Gold (AGI), which rose 6%, and AuRico Gold (AUQ), which rose 7%, after the companies announced an agreement to combine via "a merger of equals" with a transaction equity value of about $1.5B. Upon completion of the deal, former Alamos and AuRico shareholders will each own approximately 50% of the new Alamos Gold and a new company, to be named AuRico Metals, will be created to hold AuRico's Kemess project and some other assets. The newly formed company will own a 4.9% equity interest in the spinoff and the remaining "SpinCo" shares will be distributed 50% each to former Alamos and AuRico shareholders. Also higher was Builders FirstSource (BLDR), which gained 65% after announcing that it has entered into an agreement to acquire ProBuild Holdings in an all-cash transaction valued at about $1.63B. Among the noteworthy losers was Basic Energy (BAS), which fell 8% after Raymond James downgraded the stock to Market Perform based on valuation, substantial pricing pressure, and industry overcapacity. Also lower were U.S.-listed shares of Sina (SINA), which dropped 5% after the Financial Times reported that China's government has warned that it will shut down the company's service if it does not "improve censorship." INDEXES: Near midday, the Dow was down 19.08, or 0.11%, to 18,038.57, the Nasdaq was up 7.93, or 0.16%, to 5,003.91, and the S&P 500 was down 3.04, or 0.14%, to 2,099.02.
09:38 EDTSINASINA trades lower after Beijing warns on insufficient censorship
Subscribe for More Information
09:20 EDTSINAOn The Fly: Pre-market Movers
HIGHER: Builders FirstSource (BLDR), up 54.35% after acquiring ProBuild in all-cash transaction... Arrowhead (ARWR), up 14.3% after being cleared to proceed with multiple dose Phase 2b study of ARC-520... Oramed Pharmaceuticals (ORMP), up 6.9% after enrolling first patient in glucose clamp study for oral insulin... Clovis Oncology (CLVS), up 8.2% after being upgraded to Buy from Neutral at Goldman... Quantum (QTM), up 3.2% after announcing go-to-market partnership with Dot Hill Systems (HILL)... Netflix (NFLX), up 3.4% after being upgraded to Buy from Neutral at UBS... Apple (AAPL), up just under 1% following reports of Apple Watch orders. LOWER: Sina (SINA), down 3% following a report from the Financial Times that China may shut down the company if censorship doesn't improve... Ruckus Wireless (RKUS), down 2.9% after being downgraded to Buy from Conviction Buy at Goldman... Allot Communications (ALLT), down 2.7% after being downgraded to Hold from Buy at Needham.
06:29 EDTSINAChina may shut down Sina if censorship doesn't improve, Financial Times says
Subscribe for More Information
April 10, 2015
14:27 EDTNWSANews Corp., 21st Century Fox mull move to WTC site, NY Times reports
Subscribe for More Information
06:38 EDTSINAChina using new weapon to censor Internet content, NY Times says
China has deployed a new weapon in its effort to prevent Chinese citizens from viewing foreign websites of which Beijing does not approve, according to The New York Times. Dubbed The Great Cannon, the new weapon enables the government to intercept foreign web traffic flowing to Chinese websites, inject malicious code, and redirect the traffic, the newspaper stated, adding that the technology could easily be used to spy on all users who obtain content hosted on a Chinese computer. Chinese Internet stocks include Baidu (BIDU), SINA (SINA), Wiebo (WB), and Sohu.com (SOHU). Reference Link
April 7, 2015
16:35 EDTVRValidus requests withdrawal of registration statement
The company is requesting the withdrawal of the Registration Statement, File No. 333-203218, because it was erroneously coded and filed as form type “S-3ASR” rather than form type “POSASR.” The company hereby confirms that no securities have been sold pursuant to the Registration Statement.

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