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Stock Market & Financial Investment News

News Breaks
June 12, 2014
18:33 EDTAXAS, JDSU, AMD, ARO, CPST, FNSR, INTC, EXPR, OCLS, XEC, NKTROn The Fly: After Hours Movers
HIGHER: Express (EXPR), up 21.33% after Sycamore Partners seeks to acquire remaining shares... Aeropostale (ARO), up 7.78%... Nektar Therapeutics (NKTR), up 10.77% after AADPAC voted that the FDA should not require cardiovascular outcomes trials for the peripherally-acting mu-opioid receptor antagonist class of drugs... Intel (INTC), up 5.33% after raising quarterly and fiscal 2014 outlook... Advanced Micro Devices (AMD), up 2.1%... Cimarex Energy (XEC), up 1.5%. DOWN AFTER EARNINGS: Finisar (FNSR), down 21.8% after reporting quarterly results... JDS Uniphase (JDSU), down 3.47%... Oculus (OCLS), down 2.74% after reporting fourth quarter results... Capstone Turbine (CPST), down 1.9%. ALSO LOWER: Abraxas Petroleum (AXAS), down 1.35% after commencing a 10M share common stock offering.
News For EXPR;ARO;NKTR;INTC;AMD;XEC;FNSR;JDSU;OCLS;CPST;AXAS From The Last 14 Days
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December 8, 2014
07:32 EDTAMDRaymond James to hold a conference
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07:29 EDTNKTRUBS to hold investor trip
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07:18 EDTNKTRUBS to hold investor trip
2014 Annual West Coast Investor Trip travels on the West Coast on December 8-10.
December 5, 2014
11:24 EDTFNSRFinisar management to meet with B. Riley
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10:40 EDTFNSR, EXPROptions with decreasing implied volatility
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08:16 EDTEXPRExpress price target lowered to $16 from $20 at BMO Capital
BMO Capital cut its price target on Express after the company reduced its Q4 guidance. However, the firm thinks the company's outlet continues to exceed expectations, while its spring product is seeing signs of improvement. The firm adds that the company has easier comparisons in 2015, giving it the opportunity to post positive comp sales. BMO keeps an Outperform rating on the shares.
05:51 EDTFNSRFinisar weakness a buying opportunity, says Piper Jaffray
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December 4, 2014
18:34 EDTFNSROn The Fly: After Hours Movers
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16:13 EDTFNSRFinisar down 3% after earnings, guidance miss estimates
16:04 EDTFNSRFinisar sees Q3 EPS 23c-27c, consensus 28c
Sees Q3 revenues $297M-$312M, consensus $323.85M. Sees Q3 non-GAAP gross margin of approximately 31%. "The second quarter was challenging. During the quarter, we experienced decreased demand for telecom products compared to the prior fiscal quarter, due to sluggish carrier capital expenditures. In addition, sales of transceivers for wireless applications were soft as were sales to several datacom customers with lumpy order patterns," said Jerry Rawls, Finisar's executive Chairman. "We remain confident in our industry leading market position and the long term growth potential for the industry. We expect revenue to grow sequentially in the third fiscal quarter, primarily driven by growth in the demand for 40 gigabit and 100 gigabit transceivers for datacom applications as well as transceivers for wireless applications," said CEO Eitan Gertel.
16:02 EDTFNSRFinisar reports Q2 EPS 23c, consensus 25c
Reports Q2 revenue $297.0M, consensus $315.25M. Non-GAAP gross margin decreased to 31.1% from 32.0% in the preceding quarter.
15:18 EDTFNSRNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Cooper Companies (COO), consensus $2.03; ULTA Salon (ULTA), consensus 84c; American Eagle Outfitters (AEO), consensus 22c; Five Below (FIVE), consensus 6c; Ambarella (AMBA), consensus 54c; Finisar (FNSR), consensus 25c; Smith & Wesson (SWHC), consensus 7c.
12:22 EDTEXPROn The Fly: Midday Wrap
Stocks on Wall Street began the session slightly lower despite relatively in-line jobless claims data, as European markets moved down following a rate decision and accompanying commentary from ECB President Mario Draghi. Adding to the modest pressure seen in morning trading may be the fact that oil prices continue to move lower. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 17K to 297K in the week ended November 29, which was nearly in-line with the expectation for 295K first-time claims. Challenger reported announced layoffs fell 15.2K in November to 35.9K. In Europe, the European Central Bank kept its key rates unchanged, as expected. ECB President Mario Draghi said in his accompanying press conference that the latest euro area macroeconomic projections indicate lower inflation, accompanied by weaker real GDP growth and subdued monetary dynamics. Additionally, he stated that early next year the Governing Council will reassess the monetary stimulus achieved, the expansion of the balance sheet and the outlook for price developments. "Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council remains unanimous in its commitment to using additional unconventional instruments within its mandate. This would imply altering early next year the size, pace and composition of our measures," Draghi said. COMPANY NEWS: Shares of Barnes and Noble (BKS) slid about 10% after the company reported lower than expected second quarter earnings and said it continues to expect both Retail comparable bookstore sales and Retail Core comparable bookstore sales to decline in the low-single digits this fiscal year. Additionally, Barnes & Noble and Microsoft (MSFT) agreed to terminate their commercial agreement and B&N agreed to acquire Microsoft's entire preferred interest in NOOK Media in exchange for $62.4M cash and 2.74M shares of its stock. MAJOR MOVERS: Among the notable gainers was Hawaiian Electric (HE), which jumped 16% after its board approved a plan to spin off ASB Hawaii, the parent company for American Savings Bank, and establish it as an independent publicly traded company and NextEra Energy (NEE) agreed to acquire the company, excluding the banking subsidiary. Array BioPharma (ARRY) rose 15% after announcing it has reached a definitive agreement with Novartis (NVS) to regain full worldwide rights to binimetinib, a MEK inhibitor in three Phase 3 trials, which Piper Jaffray called a "big win" for the company. Among the noteworthy losers was UTi Worldwide (UTIW), which fell 11.5% after confirming that exploratory conversations have taken place with DSV, but adding those discussions never progressed beyond a preliminary stage and that no talks are currently taking place. Also lower were shares of Express (EXPR), which declined over 9% after the apparel retailer reported lower than expected Q3 revenue and gave EPS guidance that fell short of estimates. INDEXES: Near midday, the Dow was down 53.56, or 0.3%, to 17,859.06, the Nasdaq was down 2.80, or 0.06%, to 4,771.67, and the S&P 500 was down 5.49, or 0.26%, to 2,068.84.
11:34 EDTAROGuess sinks to 52-week low after cutting fiscal 2015 outlook
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09:23 EDTARO, EXPROn The Fly: Pre-market Movers
UP AFTER EARNINGS: Avago (AVGO), up 7.2%... Kroger (KR), up 3.1%... Rite Aid (RAD), up 3.1%... Sears Holdings (SHLD), up 2.3%. ALSO HIGHER: Array Biopharma (ARRY), up 24% after reaching a definitive agreement with Novartis (NVS) to regain full worldwide rights to binimetinib... Hawaiian Electric (HE), up 13.5% following merger announcement with NextEra Energy (NEE)... SinoCoking Coal (SCOK), up 14.2% after beginning construction of second aboveground Syngas facility... Plug Power (PLUG), up 12.3% after announcing $20M ReliOn fuel cell contract... Mobileye (MBLY), up 3.4% after being upgraded to Buy from Hold at Deutsche Bank... CTI BioPharma (CTIC), up 3.6% following $15M payment from Teva for TRISENOX... TASER (TASR), up 3% after receiving multiple orders of AXON body cameras. DOWN AFTER EARNINGS: Barnes & Noble (BKS), down 7.6%... Express (EXPR), down 11.3%... Toronto-Dominion Bank (TD), down 1.4%... Toro Company (TTC), down 1.1%... Aeropostale (ARO), down 14.1%. ALSO LOWER: Kindred Biosciences (KIN), down 29.3% after announcing that it will discontinue its AtoKin study... UTi Worldwide (UTIW), down 13% after saying that there are no current talks with DSV A/S... Agree Realty (ADC), down 3.7% after 2.1M share Spot Secondary priced at $29.90.
07:04 EDTEXPRExpress sees FY14 EPS 69c-76c, consensus 89c
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07:03 EDTEXPRExpress sees Q4 EPS 38c-45c, consensus 60c
Sees Q4 comparable sales in negative mid to high single digits. Sees Q4 effective tax rate of approximately 40%. Sees Q4 net interest expense of approximately $6M.
07:02 EDTEXPRExpress reports Q3 comparable sales down 5%
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07:02 EDTEXPRExpress reports Q3 EPS 17c, consensus 16c
Reports Q3 revenue $497.61M, consensus $499.74M
06:38 EDTINTCIntel to spend $1.6B to upgrade China factory, Reuters says
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