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Stock Market & Financial Investment News

News Breaks
January 29, 2013
16:35 EDTSWIR, NTGR, EMC, VMW, VLO, DHI, KERX, HES, LLY, PFE, FOn The Fly: Closing Wrap
Stocks on Wall Street were mixed as the Dow closed only 200 or so points away from a high it has not reached since October 2007. A less-than-stellar consumer confidence reading for January stalled the advance early in the session, but the averages all rebounded and closed at or near their best levels of the day, though the Nasdaq was unable to hold in positive ground... ECONOMIC EVENTS: In the U.S., the November S&P/Case-Shiller 20-city Home-Prices Index was up a seasonally adjusted 0.6% from the prior month, versus expectations for a 0.7% increase. On a year-over-year basis, the 20-city index rose 5.5%, which was nearly in-line with consensus. The Consumer Confidence reading for January fell to 58.6, versus expectations for a smaller decline to 64.0... COMPANY NEWS: Ford (F) reported quarterly results that beat expectations on both the top and bottom lines. However, concerns over Europe, where the company said it expects to lose about $2B in 2013, sent shares down 64c, or 4.64%, to $13.14... Pharma giants Pfizer (PFE) and Eli Lilly (LLY) both reported earnings that beat consensus estimates before the market opened and both rallied. Dow-member Pfizer led that index with a 3.2%, or 86c, advance to $27.70, while Lilly gained $1.68, or 3.19%, to $54.32... MAJOR MOVERS: Higher for the second straight day were shares of Hess (HES), up $5.63, or 9.01%, to $68.11 after gaining over 6% yesterday, and Keryx Biopharmaceuticals (KERX), up $2.30, or 38.01%, to $8.36 today after rising over 76% yesterday. Also higher after earnings reports were DR Horton (DHI), which gained $2.51, or 11.78%, to $23.82, and Valero (VLO), which added $4.96, or 12.78%, to $43.77. Among the noteworthy losers was VMware (VMW), down $21.18, or 21.54%, to $77.14 after its guidance disappointed the Street and the stock was downgraded by numerous firms. EMC (EMC), which holds a majority ownership stake in VMware and also reported last night, also lost $1.02, or 4.05%, to $24.18. Also lower were shares of NetGear (NTGR), down $4.45, or 10.9%, to $36.38 after agreeing to acquire Sierra Wireless's (SWIR) AirCard business assets for $138M in cash. Sierra Wireless (SWIR) advanced $1.69, or 18.45%, to $10.85 after the news... INDICES: The Dow was up 72.49, or 0.52%, to 13,954.42; the Nasdaq was down 0.64, or 0.02%, to 3,153.66; and the S&P 500 was up 7.66, or 0.51%, to 1,507.84.
News For F;PFE;LLY;HES;KERX;DHI;VLO;VMW;EMC;NTGR;SWIR From The Last 14 Days
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October 9, 2014
10:00 EDTVLOOn The Fly: Analyst Initiation Summary
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08:02 EDTFPandora announces new auto partnership with Ford Australia
Pandora (P) Internet Radio has officially announced its partnership with Ford (F) Australia. The launch, effective across a range of nameplates including Fiesta ST and Focus ST and Ford Kuga line up, will continue to roll out across other Ford nameplates including the Fiesta, Focus, Ranger and Transit range by early 2015. Pandora locally also partners with Holden and Mazda, and will soon be released on new model Nissans (NSANY).
06:55 EDTEMCAnalyst says PC company likely to get much of HP debt, Re/code reports
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October 8, 2014
16:58 EDTVLOValero initiated with a Buy at Deutsche Bank
Target $60.
14:46 EDTEMCEMC comments on letter issued by Elliott Management
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11:04 EDTEMC, VMWEMC advances after activist letter, report on HP merger talks
Shares of EMC (EMC) are rising slightly in a down market after activist investor Elliott Management disclosed that it wrote in a letter to the company's board that it had heard of "acquisition interest in EMC's assets on the part of several large companies." The firm called on EMC to pursue M&A opportunities and spin off its VMware (VMW) subsidiary. WHAT'S NEW: Since July, several large companies have expressed "acquisition interest" in EMC's assets, Eliiott wrote. Acquisitions of EMC's assets by these companies would be logical from a strategic perspective, the firm added. The parties that have expressed interest could afford to buy all of EMC or a number of its assets, according to Elliott. EMC should look to spin off VMware because owning VMware is holding down the value of EMC's stock and damaging its relationship with its customers, the investor stated. VMware is hurting EMC by competing with EMC's customers, Elliott explained. Elliott Management noted that is affiliates collectively own or have economic exposure to about 2.2% of the common stock and equivalents of EMC. WHAT'S NOTABLE: HP (HPQ) and EMC are still conducting due diligence on a potential merger, CNBC's David Faber reported this morning, citing sources. A deal is unlikely, but still possible, and would include a buy-in of VMware, Faber added. PRICE ACTION: In mid-morning trading, EMC rose 0.3% to $28.20, VMware slid 0.9% to $90.59 and HP dropped 1.2% to $34.80.
10:58 EDTKERXKeryx management to meet with Brean Capital
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10:55 EDTPFE, LLYLeerink pharmaceuticals analyst holds an analyst/industry conference call
Analysts discuss prospects for drugs that raise HDL cholesterol, effects of CETP mechanism, expectations for REVEAL data and the potential place for CETP inhibitors in a crowded hypersholesterolemia landscape on an Analyst/Industry conference call to be held on October 9 at 11 am.
10:33 EDTFFord falls to fresh 52-week low, levels to watch
The shares are down 2% at time of writing to $13.82, just above the fresh 52-week low set earlier today at $13.76. Support below today's low is at $13.36. Resistance is at the session high at $14.10.
09:53 EDTEMC, VMWHP, EMC still doing due diligence on potential deal, CNBC reports
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09:49 EDTEMCHP, EMC merger unlikely but still possible, CNBC's Faber says
09:48 EDTEMCHP, EMC still doing work on potential deal, CNBC reports
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08:55 EDTVMW, EMCEMC rises after VMware separation urged by Elliott Management
Shares of EMC Corp. (EMC) are higher in pre-market trading after investor Elliott Management, affiliates of which collectively own or have economic exposure to about 2.2% of the common stock and equivalents of EMC, sent a letter to the company's board detailing the firm's recommendations, including a separation of VMware (VMW) from Core EMC. Shares of EMC are up about 1% to $28.39 following Elliott's public disclosure of its letter to the company's board.
08:54 EDTEMC, VMWElliott Management urges separation of VMware from EMC
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08:31 EDTEMCElliott Management sends letter to EMC board
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08:09 EDTPFEPfizer presents LP2086 Phase 2 study data
Pfizer announced it will present the results of a Phase 2, randomized study to evaluate co-administration of the company’s investigational meningococcal group B vaccine, bivalent recombinant LP2086, or rLP2086, with a licensed quadrivalent human papillomavirus vaccine at IDWeek 2014. Data demonstrated immune responses to both vaccines were generated after concomitant administration of bivalent rLP2086 and HPV4. Prespecified noninferiority criteria were met for the bivalent rLP2086 antigens studied and three of the four antigens for HPV4. Primary immunogenicity endpoints, measured after the third dose, included geometric mean titers against HPV antigens in Groups 1 and 3 and human complement serum bactericidal assay GMTs against meningococcal group B disease test strains in Groups 1 and 2. Secondary immunogenicity endpoints included the rate of seroconversion to HPV antigens. Safety of bivalent rLP2086 was assessed after concomitant administration with HPV4 or saline. The prespecified noninferiority criteria were met for three of four HPV antigens and both meningococcal group B disease test strains. Seroconversion for all four HPV antigens was achieved by 99% or more of the subjects for the groups that received HPV4 concomitantly with bivalent rLP2086 or with saline. More local reactions occurred following administration of bivalent rLP2086 compared with saline but the incidence of these reactions did not increase with subsequent vaccine administration. The rates of local and systemic reactions were comparable when bivalent rLP2086 was given with HPV4 to bivalent rLP2086 given alone.
08:08 EDTVMWVMware should be bought ahead of earnings, says Pacific Crest
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07:19 EDTPFECBI to hold a conference
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07:18 EDTPFEInfectious Diseases Society of America to hold a conference
ID Week 2014 is being held in Philadelphia on October 8-12.
06:11 EDTLLYNovartis says expects three executive committee members to leave
Novartis (NVS) confirmed that following completion of the transactions with GlaxoSmithKline (GSK) and Eli Lilly and Company (LLY) in the coming months, that the three business leaders of the Novartis divisions at the center of the transaction will leave the Executive Committee of Novartis. The expected changes to the ECN are subject to the closing of the transactions announced on April 22 - Novartis expects the transaction with GSK to be completed in the first half of 2015, and the transaction with Eli Lilly for its Animal Health Business to close in the first quarter of 2015. George Gunn, currently Division Head, Novartis Animal Health, will reach his contractual retirement age in July 2015 and will retire from Novartis. Upon closing of the Animal Health transaction with Lilly he will leave the ECN. Brian McNamara, currently Division Head, Novartis OTC, will transition to GSK as Head of Americas and Europe for the consumer health businesses, reporting to the President of GSK Consumer Healthcare, effective at closing of the transaction. Andrin Oswald, currently Division Head, Novartis Vaccines, will be leaving Novartis to pursue other opportunities following closing of the transaction with GSK.
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