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Stock Market & Financial Investment News

News Breaks
December 3, 2012
18:25 EDTGERN, IMUC, ORCL, CWST, PETS, APL, PBY, ESIOOn The Fly: After Hours Movers
HIGHER: Electro Scientific (ESIO), up 11% after declaring special dividend... PetMed Express (PETS), up 4% after declaring special dividend... ImmunoCellular (IMUC) up 3% after naming new CEO... DOWN AFTER EARNINGS: Pep Boys (PBY), down 8%... Casella Waste Systems (CWST), down 5%... ALSO LOWER: Geron (GERN), down 20% after announcing workforce reduction, CFO leaving company... Atlas Pipeline Partners (APL), down 2.5% after announcing acquisition of Cardinal Midstream... Oracle (ORCL), down 1% after announcing accelerated dividend payments.
News For ESIO;PETS;IMUC;PBY;CWST;GERN;APL;ORCL From The Last 14 Days
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May 29, 2015
08:05 EDTCWSTJCP Investment issues open letter to Casella Waste board
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May 28, 2015
11:17 EDTORCLBofA/Merrill software analyst holds an analyst/industry conference call
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05:53 EDTORCLObama administration urges justices not to hear Google-Oracle case, WSJ says
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May 27, 2015
14:47 EDTORCLAnalysts debate Workday after post-earnings selloff
Last night's results and guidance from Workday (WDAY) prompted a selloff in the stock a several cautious notes from research firms. However, multiple analysts remain bullish on the company and see strong prospects hidden behind the "relatively conservative" guidance. WHAT'S NEW: After the market close on Tuesday, Workday reported first quarter losses per share of (2c) on revenues of $251M, both of which beat consensus estimates. However, the company's second quarter revenue guidance of $270M-$274M bracketed the consensus forecast of about $272M. ANALYST REACTIONS: Brean Capital's Sarah Hindlian noted that traders were likely disappointed by the lack of major client announcements for Workday's FMS product, but said she believes FMS will be successful in the long term. Hindlian added that she expects Workday to become a "clear winner" eventually, but warned of a significant correction in the stock and noted that "significant" R&D spending is required before the company can capture the full market and she reiterates a Hold rating on the stock. Jefferies' John DiFucci and Brad Zelnick were less hopeful, saying the company's 31% billings growth versus 69% last year reflects "very aggressive" competition from Oracle (ORCL) and SAP (SAP), which could signal lessened momentum for Workday. The firm believes renewals may be a bright spot for the company going forward, but kept a Hold rating on the stock and cut its price target to $92 from $99 on the shares. Wells Fargo's Jason Maynard said the company's "relatively conservative" guidance is likely due to some lag in large deal signings as well as a relatively slow acceleration in Europe. The firm lowered its price target to $105-$110 from $110-$120, but remained optimistic on Workday, citing "extremely strong" renewals, new client wins in human capital management, and a maturing financial product. Richard Davis and David Hynes from Canaccord lowered Workday's price target to $100 from $110, but nevertheless said they believe the company faces a "decade of growth." The firm was not surprised at the recent selloff and recommended using weakness in the stock price to fill out investment positions in Workday. PRICE ACTION: Workday is down over 10% to about $83 per share in afternoon trading. Oracle and SAP are up roughly 1.8% and 1%, respectively.
06:27 EDTORCLUS administration backs Oracle in Google case, Financial Times reports
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05:20 EDTORCLJefferies cuts Workday price target on moderating growth
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May 26, 2015
20:44 EDTIMUCMarcum to hold a conference
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06:38 EDTORCLMicrosoft buying Salesforce 'makes a lot of sense,' says Piper Jaffray
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May 22, 2015
17:20 EDTPBYGlenhill Advisors reports 7.0% stake in Pep Boys
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May 21, 2015
08:15 EDTORCLSalesforce acquisition still possible, says JMP Securities
After Salesforce reported stronger than expected results, JMP Securities indicated that the results, along with statements by the company's CEO, make an acquisition seem less likely. However, the firm continues to believe that Google (GOOG), Oracle (ORCL), or Microsoft (MSFT) could buy the company. All three potential acquirers have significant cash and strong potential synergies with Salesforce, and the world is moving to the cloud, the firm explained. It raised its price target on Salesforce to $80 from $75 and keeps an Outperform rating on the shares.
06:37 EDTORCLOracle to cut 40% of industry solutions team, Business Insider reports
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May 20, 2015
12:33 EDTPBYOn The Fly: Top stock stories at midday
Stocks began the session relatively unchanged from yesterday’s close and continue to trade in a holding pattern as investors await the release of the minutes from the Federal Reserve's last FOMC meeting. ECONOMIC EVENTS: In the U.S., EIA inventory data showed a 2.67M barrel fall in crude stocks, versus expectations for a 1.75M barrel decrease. The Federal Reserve is scheduled to release the minutes from its last rate setting meeting at 2 pm EDT. In Asia, Japan's GDP accelerated to a 2.4% growth pace in the first quarter, which was much better than expected. Japanese stock markets rallied on the news, sending the Nikkei 225 average to its best level in 15 years. COMPANY NEWS: Five of the world's largest banks - Citi (C), JPMorgan Chase (JPM), Barclays (BCS), The Royal Bank of Scotland (RBS) and UBS (UBS) - agreed to pay more than $5B and plead guilty to felony charges related to manipulating foreign currencies and interest rates. In conjunction with previously announced settlements with regulatory agencies in the United States and abroad, today’s resolutions bring the total fines and penalties paid by these five banks for their conduct in the foreign exchange spot market to nearly $9B, the Department of Justice stated... Target (TGT) shares advanced 1% after the retailer's first quarter earnings topped expectations and it raised the low-end of its fiscal year profit forecast. Brian Cornell, chairman and CEO of Target, said the company was pleased with its first quarter traffic and sales, particularly in its signature categories, which drove better-than-expected profitability through improved gross margin and continued expense management. MAJOR MOVERS: Among the notable gainers was Sarepta Therapeutics (SRPT), which rallied 53% after the company announced that, following meetings with the FDA, it would submit its eteplirsen drug to the FDA for approval on a rolling basis, with various components of the application being submitted separately. Eteplirsen is a treatment for Duchenne muscular dystrophy, or DMD. Also higher was Pep Boys (PBY), which gained 14% after The Wall Street Journal said private equity firm Golden Gate Capital and other potential suitors have expressed interest recently in buying the company. Among the noteworthy losers was Etsy (ETSY), which operates an online marketplace to buy and sell handmade items and vintage goods. The stock, which priced its IPO at $16 and opened for trading at $31 per share, dropped 22% to trade near $16.50 after the company issued its first financial report since coming public in April. Also lower were shares of several airline stocks, led by Southwest (LUV), which was down 8% near noon. In a regulatory filing last night, Southwest indicated it expects FY15 capacity growth to increase 7%-8% and to grow another 6%-7% in FY16. Buckingham downgraded Southwest to Neutral from Buy this morning, stating it has a more cautious revenue outlook for the company due to a worsening backdrop as competitors vow to compete aggressively. INDEXES: Near midday, the Dow was down 6.10, or 0.03%, to 18,306.29, the Nasdaq was up 1.65, or 0.03%, to 5,071.69, and the S&P 500 was down 0.49, or 0.02%, to 2,127.34.
09:25 EDTPBYOn The Fly: Pre-market Movers
UP AFTER EARNINGS: American Eagle Outfitters (AEO), up 8.6%... Computer Sciences (CSC), up 4.1%. ALSO HIGHER: Sarepta Therapeutics (SRPT), up 44.5% after announcing plans for rolling eteplirsen NDA... Genocea Biosciences (GNCA), up 22.5% after GEN-003 Phase 2 trial met primary endpoint... IsoRay (ISR), up 31.7% after Cesium-131 reports 96% success in local control and 100% survival in 5 years... AVEO Pharmaceuticals (AVEO), up 15.7% after presenting results of extension study 902 and gets FDA feedback for tivozanib... Pep Boys (PBY), up 12.5% following reports that potential buyer have approached the company about a possible takeover. DOWN AFTER EARNINGS: Etsy (ETSY), down 19.5%... China Distance Education (DL), down 7.7%... Keysight Technologies (KEYS), down 5.7%.... Lowe's (LOW), down 5.2%. ALSO LOWER: Lpath (LPTN), down 75.6% after announcing that it will undergo corporate restructuring... Achillion Pharmaceuticals (ACHN), down 10.1% following collaboration for HCV with Janssen... El Pollo LoCo (LOCO), down 3.5% after 6M share Block Trade priced at $22.25... Cimarex Energy (XEC), down 3.3% after 6M share Spot Secondary priced at $109.00.
08:03 EDTPBYPep Boys June volatility elevated into reports suitors approached
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06:04 EDTPBYPotential buyers approach Pep Boys about possible takeover, WSJ reports
Pep Boys has been approached about a takeover, according to sources cited by The Wall Street Journal. The sources say Golden Gate Capital and other potential suitors have expressed interest recently in buying the company. The auto-parts and services retailer is not currently in negotiations with any of the firms and is not working with an investment bank, one source notes. Reference Link
05:57 EDTORCLSAP CEO says Salesforce unlikely to be acquired, Reuters reports
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May 19, 2015
16:31 EDTIMUCImmunoCellular enters ammended license agreement with Cedars-Sinai
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13:05 EDTORCLSalesforce deal talks may have 'died down,' dealReporter says
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06:40 EDTPBYGabelli adds another nominee to join board of Pep Boys
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May 17, 2015
16:50 EDTORCLWhite House wavers on backing Google, Oracle in copyright suit, Reuters says
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