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News Breaks | | | | July 13, 2011 | | 12:36 EDT |  | CLNE, WAG, ERTS, VR, RENN, BSYBY, KCI, TSPT, CHK, NWSA, GLUU, TRH, SINA | On 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. | |
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News For ERTS;GLUU;KCI;WAG;NWSA;BSYBY;CLNE;CHK;RENN;SINA;TSPT;VR;TRH From The Last 14 Days Check below for free stories on ERTS;GLUU;KCI;WAG;NWSA;BSYBY;CLNE;CHK;RENN;SINA;TSPT;VR;TRH the last two weeks. |
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| May 17, 2013 | | 15:51 EDT |  | NWSA | DirecTV weighing bid for Hulu, WSJ reports
DirecTV (DTV) is considering making a bid for Hulu, the video website jointly owned by News Corp. (NWSA), Comcast (CMCSA), and Disney (DIS), reports The Wall Street Journal citing a person familiar with the matter. Reference Link | | | 15:26 EDT |  | NWSA | DirecTV considering acquisition of Hulu, Dow Jones reports
 Subscribe for More Information | | | 12:33 EDT | | WAG | AmerisourceBergen receives approval of Walgreens, Alliance Boots investment
AmerisourceBergen (ABC) announced that the parties have received regulatory approval of the previously disclosed agreement for Walgreen (WAG) and Alliance Boots GmbH to purchase an equity stake in the company. AmerisourceBergen continues to expect the new agreements to contribute an incremental $25B in revenues and approximately 20c in earnings per share in FY14, excluding the amortization of certain expenses related to the transaction and the warrants issued, certain non-recurring costs and a potential LIFO charge, and net of certain start up expenses. In addition, the company reiterated its expectations for financial performance for fiscal year 2013, which includes expected revenue growth in the 11%-13% range, and diluted earnings per share from continuing operations in the lower half of the range of $3.04 to $3.14, excluding certain expenses related to the relationship with Walgreens and Alliance Boots and the warrants issued, and the expected LIFO charge from onboarding of additional branded inventory. | | | 09:08 EDT |  | SINA | SINA recommended at 86 Research
Subscribe for More Information | | | 05:44 EDT | | SINA | SINA shares still undervalued on Alibaba deal, says Piper Jaffray
Subscribe for More Information | | | May 16, 2013 | | 18:56 EDT | | SINA | On The Fly: After Hours Movers
UP AFTER EARNINGS: SINA (SINA), up 4.2%. ALSO HIGHER: Kansas City Southern (KSU), up 1.6% after it was announced the company would replace Dean Foods (DF) in the S&P 500 on May 23. DOWN AFTER EARNINGS: Autodesk (ADSK), down 6.5% after earnings, guiding its second quarter below expectations... Aruba Networks (ARUN), down 17.1% after earnings, guiding its fourth quarter below expectations... Nordstrom (JWN), down 3.5%... J.C. Penney (JCP), down 1.7%... Brocade (BRCD), down 2.4% after earnings, guiding its third quarter below expectations. | | | 17:18 EDT |  | SINA | SINA trades higher after earnings beat, first look
The stock is up over 4.7% to $61.58 in the extended session. At that price, next resistance is at $62.52, and then at $63.10. Support is at $60.84. | | | 17:04 EDT |  | SINA | SINA sees Q2 revenue $143M-$147M, consensus $142.66M
Subscribe for More Information | | | 17:02 EDT | | SINA | SINA reports Q1 EPS 2c, consensus (3c)
Subscribe for More Information | | | 15:14 EDT | | SINA | Notable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Dell (DELL), consensus 35c; Applied Materials (AMAT), consensus 13c; Nordstrom (JWN), consensus 76c; Autodesk (ADSK), consensus 45c; J. C. Penney (JCP), consensus (86c); SINA (SINA), consensus (3c); ViaSat (VSAT), consensus 2c; Brocade Communications (BRCD), consensus 15c; Aruba Networks (ARUN), consensus 15c. | | | | 12:33 EDT |  | CHK | Chesapeake volatility at 29-month lows
Subscribe for More Information | | | 10:03 EDT |  | CHK | On The Fly: Analyst Downgrade Summary
Subscribe for More Information | | | 06:47 EDT | | CHK | Chesapeake downgraded to Neutral from Overweight at JPMorgan
JPMorgan downgraded Chesapeake citing valuation and a lack of catalysts. | | | May 15, 2013 | | 19:59 EDT | | NWSA | Pay-TV operators eye Hulu, WSJ reports
At least two pay-TV operators, including Time Warner Cable (TWC), are looking at an investment in Hulu, jointly controlled by Comcast (CMCSA), Disney (DIS), and News Corp. (NWSA), reports the Wall Street Journal, citing people familiar with the matter. Reference Link | | | 17:46 EDT | | NWSA | SAC Capital gives quarterly update on stakes
NEW STAKES: Discovery (DISCA), Liberty Global (LBTYA), Liberty Media (LMCA), Norwegian Cruise Line (NCLH), and Cubist (CBST). INCREASED STAKES: Suncor (SU), EQT Corporation (EQT), Amazon.com (AMZN), Visa (V), and GNC Holdings (GNC). DECREASED STAKES: News Corp. (NWSA), Facebook (FB), Sherwin-Williams (SHW), and Avago (AVGO). LIQUIDATED STAKES: Coach (COH), Dover (DOV), and Virgin Media (VMED), . | | | 13:55 EDT | | SINA | SINA May call volatility elevated at 113 into Q1 and outlook
Subscribe for More Information | | | 12:58 EDT | | SINA | China closing influential microblog accounts, The Guardian reports
Subscribe for More Information | | | 12:22 EDT | | SINA | Earnings Preview: SINA shares up close to 11.5% since last earnings report
SINA (SINA) is expected to report Q1 earnings after the market close on Thursday, May 16 with a conference call scheduled for 9:00 pm ET. SINA is an online media company that enable Internet users to access professional media and user generated content through multimedia formats from the Web and mobile devices. EXPECTATIONS: Analysts are looking for EPS of (3c) on revenue of $117.54M. The consensus range is (9c)-5c for EPS, and $114.8M-$123.7M for revenue, according to First Call. LAST QUARTER: SINA reported Q4 EPS 13c against estimates of 5c on revenue of $134.4M against estimates of $133.86M. The company also gave Q1 revenue guidance of $115M-$119M. On the same day, it announced the promotion Jack Xu to CTO and COO Hong Du to COO and co-president. STREET RESEARCH: In the past quarter, SINA announced an agreement on a strategic alliance with Alibaba that is expected to generate $380M in advertising and social commerce services revenue in aggregate for Weibo over the next three years. Alibaba also announced that it invested $586M for 18% stake in Weibo. Following the announcement, the company's price target was raised at Piper Jaffray and it was upgraded at Jeffries and Goldman. The analyst firms expected better Weibo monetization and accelerated revenue following the alliance. Citigroup, on the other hand, said the deal does not solve issues involving strategic challenges that lie ahead, including mobile disruption, declines in portal and social media lags. Ahead of Q1 earnings, TH Capital said 1H13 could be better than expected and maintained its Buy rating because the Alibaba partnership could accelerate Weibo's monetization to a "meaningful level." IT added that Weibo could show its strength and upside in 2H13 and could bridge the gap between market valuation and underlying value of its assets. PRICE ACTION: SINA shares have gained close to 11.5% since the first day of trading following the company's Q4 report. In midday trading ahead of its Q1 report, SINA is trading slightly up at 0.8% | | | 10:49 EDT | | NWSA | Senator questions TV broadcasters' free spectrum rights, The Hill says
Democratic Senator Mark Warner questioned whether broadcast stations that pull their programming off the air should be able to keep using spectrum for free, The Hill reported yesterday. A number of TV networks have threatened to broadcast only on cable and satellite in response to the launch of Aereo. The latter service uses stations' over the air signals to send programming to consumers' Internet devices. Reference Link | | | 10:13 EDT | | RENN | On The Fly: Analyst Downgrade Summary
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