New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 13, 2011
12:36 EDTERTS, VR, TSPT, SINA, RENN, CHK, CLNE, BSYBY, NWSA, WAG, KCI, GLUU, TRHOn 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.
1 | 2 | all recent news | >>
October 20, 2014
11:06 EDTWAGWalgreen begins accepting Apple Pay in stores
Subscribe for More Information
06:46 EDTNWSANews Corp. upgraded at Macquarie
As previously reported, Macquarie upgraded News Corp to Neutral from Underperform. The firm upgraded shares based on valuation and expectations for operational trends to improve in 2015. Price target is $16.70.
06:40 EDTNWSANews Corp. upgraded to Neutral from Underperform at Macquarie
October 17, 2014
10:00 EDTCLNEOn The Fly: Analyst Initiation Summary
Subscribe for More Information
09:03 EDTWAGWalgreen venture investment head leaves after short time in post, Fortune says
Bill Wafford, who was named managing director of Walgreen’s venture capital and growth equity investment business Well Ventures just this this past January, has left the company, according to Fortune. Reference Link
08:14 EDTWAGWalgreen sued by former CFO for defamation, Reuters reports
Wade Miquelon, the former CFO of Walgreen, filed a lawsuit yesterday in state court in Chicago alleging that CEO Gregory Wasson and director Stefano Pessina, the company's biggest shareholder defamed him in news reports that blamed him for errors in its earnings forecast, Reuters reports. The Wall Street Journal reported in August that Miquelon lost his job following a $1B error in forecasting Walgreen's Medicare-related business, and later said Miquelon's error caused the company to cut its forecast in pharmacy unit earnings for the year ending August 2016. Reference Link
06:09 EDTCLNEClean Energy initiated with a Hold at MLV & Co.
Target $8.
October 16, 2014
16:30 EDTCHKOn The Fly: Closing Wrap
Subscribe for More Information
12:29 EDTCHKOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, though well off their worst levels. The market opened sharply lower following less than stellar quarterly reports from some of the country’s largest corporations and a number of in-focus "momentum" names such as Netflix (NFLX) and eBay (EBAY). The early drop extended the market’s recent declines and put the averages close to correction territory. The market moved off its lows after a regional Fed president, who'd recently been seen as hawkish, said in an interview that the central bank should consider delaying the end of quantitative easing and that it should be more data driven than time driven. The comments were attributed as the catalyst for a reversal that brought the averages all the way back to positive territory, though the market has once again drifted back into negative ground. ECONOMIC EVENTS: In the U.S., initial jobless claims decreased by 23K to 264K last week to hit their lowest level since April 2000. Industrial production rebounded 1.0% in September, beating expectations for a rise of 0.4% and pushing capacity utilization up to 79.3% from 78.7% previously. The Philadelphia Fed manufacturing index fell 1.8 points to 20.7 in October, which was not as low as the expected 19.9 reading. The NAHB homebuilder sentiment index fell 5 points to 54 in October, versus expectations for it to hold steady at 59. Also of significant note, St. Louis Fed President James Bullard, who is not a voting FOMC member though was quoted recently saying that a rate hike might be appropriate as soon as early next year, reversed course this morning and told Bloomberg in an interview that the Fed should consider delaying an end to its quantitative easing program. COMPANY NEWS: Shares of Netflix (NFLX) plunged 22% after the company provided lower than expected Q4 profit guidance and reported lower than expected subscriber data. The move after its earnings report last night also follows Time Warner's (TWX) announcement yesterday of plans for a standalone HBO online service and Piper Jaffray saying it believes CBS (CBS) will similarly launch an over-the-top Showtime offering next year... eBay (EBAY) shares slipped nearly 6% after the company missed revenue expectations for the third quarter and lowered its outlook for fiscal 2014. Following the report, analysts at both RBC Capital and CLSA downgraded the stock. MAJOR MOVERS: Among the notable gainers was Chesapeake Energy (CHK), which rose 17% after the company announced that it sold Marcellus and Utica shale assets to Southwestern Energy (SWN) for $5.375B. Shares of the buyer Southwestern, however, fell 8% after the deal announcement. Also lower was Extreme Networks (EXTR), which dropped almost 19% after cutting its first quarter outlook citing significant delays with its North American deals as well as headwinds in Europe. INDEXES: Near midday, the Dow was down 28.46, or 0.18%, to 16,113.28, the Nasdaq was down 16.16, or 0.38%, to 4,199.16, and the S&P 500 was down 2.08, or 0.11%, to 1,860.41.
12:05 EDTCHKChesapeake rises, Southwestern Energy slips after shale asset deal
Subscribe for More Information
09:23 EDTCHKOn The Fly: Pre-market Movers
Subscribe for More Information
07:05 EDTCHKSouthwestern Energy acquires Marcellus and Utica assets from Chesapeake
Subscribe for More Information
07:05 EDTCHKChesapeake announces sale of shale assets for $5.375B
Chesapeake (CHK) announced that it has executed a Purchase and Sale Agreement to sell assets in the Southern Marcellus Shale and a portion of the Eastern Utica Shale in West Virginia to Southwestern Energy Company (SWN) for aggregate proceeds of $5.375B. The transaction, which is subject to certain customary closing conditions, including the receipt of third-party consents, is expected to close in Q4. Chesapeake has agreed to sell approximately 413K net acres and approximately 1,500 wells in Northern West Virginia and Southern Pennsylvania, of which 435 are in the Marcellus and Utica formations, along with related property, plant and equipment. Average net daily production from these properties was approximately 56K barrels of oil equivalent during the month of September, consisting of 184K Mcf of gas, 20K barrels of natural gas liquids and 5,000 barrels of condensate. The company said, "We expect our full-year production guidance for 2015 to remain in the range of 7-10% growth from 2014 levels adjusted for asset sales. I am very proud of the efforts that our Southern Marcellus team and all of our employees have put into building and developing our assets and creating value for our company. We look forward to deploying the proceeds from this significant transaction in ways that will continue to drive even greater shareholder value.”
October 15, 2014
06:02 EDTCLNEClean Energy delivers 50.6M CNG gallons in Q3
Clean Energy reported it delivered for the first time over 50M compressed natural gas gallons in one quarter. The company plans to grow its CNG sales further with a strategic move to expand its CNG market to large industrial and institutional energy users beyond the nation’s natural gas pipeline by acquiring a controlling interest in NG Advantage, a pioneer in the natural gas “virtual pipeline” delivery system. The NG Advantage investment will primarily be used to fund capital expenditures for expansion and growth in the business. Clean Energy will also purchase NG Advantage’s Milton, Vt., compression station which is on track to supply nearly 16M gasoline-gallon-equivalents of CNG annually. This station will immediately become Clean Energy’s highest-volume station in its nationwide network of almost 500 stations.
October 14, 2014
17:16 EDTTSPTTranscept Pharmaceuticals declares special dividend of $12.79M, or 66c per share
Subscribe for More Information
06:03 EDTWAGWalgreen implied volatility of 27 at lower end of index mean range
Subscribe for More Information
October 13, 2014
08:06 EDTSINAQihoo 360 launches ad exchange platform, Marbridge Daily reports
Subscribe for More Information
06:46 EDTBSYBYBSkyB invests $500,000 in Pluto.TV, Variety reports
BSkyB is investing $500,000 in digital video startup Pluto.TV, Variety reports. Other investors in Pluto.TV include UTA CEO Jeremy Zimmer and Terry Semel’s Windsor Media.Reference Link
06:41 EDTWAGWalgreens to roll out Apple Pay on October 18, MacRumors reports
Walgreens (WAG) will begin rolling out Apple Pay (AAPL) on Saturday, October 18, according to a memo obtained by MacRumors. Reference Link
06:13 EDTWAGWalgreen implied volatility of 25 at lower end of index mean range
Subscribe for More Information
1 | 2 | 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