New User:

-or-
Username:
Password:
Forgot your password?

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
Check below for free stories on F;PFE;LLY;HES;KERX;DHI;VLO;VMW;EMC;NTGR;SWIR the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 | 6 | 7 | all recent news | >>
July 22, 2014
16:03 EDTVMWVMware reports Q2 EPS 81c, consensus 79c
Reports Q2 revenue $1.46B, consensus $1.44B.
15:30 EDTEMCNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings consensus, include PepsiCo (PEP) , consensus $1.23; Boeing (BA), consensus $2.01; Dow Chemical (DOW), consensus 72c; EMC (EMC), consensus 43c; Simon Property Group (SPG), consensus $2.13; Thermo Fisher (TMO), consensus $1.62; General Dynamics (GD), consensus $1.77; Freeport-McMoRan (FCX), consensus 49c; Delta Air Lines (DAL), consensus $1.04; Northrop Grumman (NOC), consensus $2.22; Whirlpool (WHR), consensus $2.91; B/E Aerospace (BEAV), consensus $1.07; Ryder (R), consensus $1.40; Owens Corning (OC), consensus 46c.
15:30 EDTVMWNotable companies reporting after market close
Subscribe for More Information
13:29 EDTFFord taps Galhotra to lead Lincoln brand
Ford earlier today announced that Kumar Galhotra – currently the company’s vice president of Engineering, responsible for all Ford and Lincoln vehicles globally – will be vice president and president of the company's Lincoln brand, effective Sept. 1. This new dedicated position, reporting to Ford President and CEO Mark Fields, is designed to accelerate Lincoln even further as a world-class luxury brand, the automaker added. Succeeding Galhotra is Jim Holland, who is named vice president, Vehicle Component and Systems Engineering, effective Sept. 1, Ford added. Holland will report to Raj Nair, group vice president, Global Product Development.
12:54 EDTVMWVMware technical notes ahead of results
Shares have sharply underperformed in the last three months. Ahead of results the stock is trading up toward the top of the narrow range which has developed over the last ten weeks. The bulk of the range is contained by a low at the $93 area and a high at the $98 area. As we have seen several times in this earnings season, narrow ranges with the right catalyst can lead to very strong post-earnings moves. Technically for the range to be broken it would require a strong move below the low of above the high, and so these boundaries become key. On better than expected news or guidance, a move above $98 on an increasing scale of positive surprise would have $99.24, $102.83, and $106.87 as upside objectives. If the news disappoints, the low at the $93 area would be the first test of support. If that low is broken, supports below as downside objectives would be at $90.93, and then at $87.10 and $85.
11:03 EDTFFord announces retirement of Chief Technical Officer Mascarenas
Subscribe for More Information
09:28 EDTVMW, EMCEMC spin-off of VMware unlikely at this point, says Janney Capital
Following the report of Elliott taking a stake in EMC (EMC) and pushing for a break-up to unlock value, Janney Capital said it does believe that a spin-off of VMware (VMW) could help improve EMC's multiple but that the firm thinks such a move is not likely at this point. Janney adds that while it views a spin-off as unlikely, other shareholder-friendly responses, such as a dividend boost or increased share buybacks, are possible. The firm keeps its Buy ratings on both EMC and VMware.
09:06 EDTEMCEMC price target raised to $33 from $28 at BofA/Merrill
BofA/Merrill raised EMC's (EMC) price target to $33 following reports that Elliott Management has taken a 2% stake in the company and is targeting a spin-off of the VMware (VMW) stake. The analyst believes EMC is undervalued without VMware and sees potential for 25% upside if a spin-off were to occur. Shares are Buy rated.
07:17 EDTFNational Association for Business Economics to hold a seminar
Subscribe for More Information
06:56 EDTEMC, VMWElliot Management to consider activist options for EMC, NY Times reports
Elliot Management is expected to consider a push for the breakup of EMC (EMC) and spinoff VMware (VMW), reports the New York Times. Citing people briefed on the matter, the hedge fund is expected to meet with EMC executives this week after the company reports its quarterly earnings to determine whether to undertake a full-bore activist campaign. Reference Link
July 21, 2014
16:22 EDTEMC, VMWOn The Fly: Closing Wrap
Stocks on Wall Street began the trading day in negative territory and remained there through nearly the whole session. The market action was influenced more by the geopolitical events in Russia and Israel than by the upcoming avalanche of earnings scheduled for release throughout the week. Despite the weak open and subsequent drop during the first hour of trading, the market drifted off its lows and managed to pare its losses, even turning mixed for a short time. The averages dipped again heading into the bell, though they closed well of their worst levels. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity Index dipped to 0.12 in June from a reading of 0.16 in May. COMPANY NEWS: Allergan (AGN) rose $3.74, or 2.23%, to $171.14 after the company's Q2 results and its FY14 outlook beat expectations. The company, which is working to fend off a proposed acquisition by Valeant Pharmaceuticals (VRX), also announced plans to cut its workforce by 13%, or about 1,500 employees, as part of a broader restructuring effort. In related news, Valeant announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business." Later in the day, Bill Ackman of Pershing Square, who is partnering with Valeant in its attempt to buy Allergan, called the restructuring a "Valeant light" effort and said Valeant does not need to raise its bid for Allergan. Ackman explained that he believes that shares of Valeant will rise around $10 should the Allergan board engage in takeover talks with the company and that a $10 share rise would boost Valeant's bid for Allergan by $8 per share. MAJOR MOVERS: Among the notable gainers was Extreme Networks (EXTR), which rose 69c, or 15.79%, to $5.06 after the company raised its Q4 earnings per share outlook and narrowed its Q4 revenue view. Also higher were shares of EMC (EMC), which advanced $1.35, or 5.0%, to $28.33 after the Wall Street Journal reported, citing sources, that activist investor Elliott Management has taken a stake of over $1B in the data-storage company and plans to push it to break itself up and spin off VMware (VMW), which is 80% owned by EMC. Shares of VMware fell $2.36, or 2.48%, to $92.95 following the Journal's report. Among the other noteworthy losers was Monster Beverage (MNST), which fell $3.07, or 4.53%, to $64.74 after Morgan Stanley downgraded the stock, citing slowing U.S. trends and balanced valuation. Also lower were shares of Yum! Brands (YUM), which fell $3.29, or 4.25%, to $74.13 after Associated Press reported that the company's KFC brand and McDonald's (MCD) were sold expired beef and chicken in China from food supplier Husi Food. Shares of McDonald's, which is scheduled to report on its quarter before tomorrow's market open, slid $1.44, or 1.45%, to $97.55. INDEXES: The Dow fell 48.45, or 0.28%, to 17,051.73, the Nasdaq dropped 7.44, or 0.17%, to 4,424.70, and the S&P 500 declined 4.59, or 0.23%, to 1,973.63.
12:10 EDTVMW, EMCOn The Fly: Midday Wrap
Subscribe for More Information
10:23 EDTEMCEMC rallies, levels to watch
The shares are up 3.6% to $27.95 at time of writing, just off the new 52-week high set at $28.32 today. Resistance above that high is at $29.25. Support is at $27.41.
09:10 EDTEMCOn The Fly: Pre-market Movers
HIGHER: Allergan (AGN), up 0.5% after Q2 results, FY14 outlook beat expectations and the company announces plans to reduce workforce by about 1,500 employees as part of restructuring. Also, Valeant (VRX) announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business"... Extreme Networks (EXTR), up 13% after raising Q4 EPS, revenue view... Gas Natural (EGAS), up 6% after confirming it rejected $13 per share unsolicited offer from Algonquin Power... EMC (EMC), up 4.5% after the WSJ says Elliot Management took a stake of over $1B in the firm and plans to push the company to break itself up... GoPro, (GPRO), up 2.8% after initiated at several firms including Citigroup, Barclays and JPMorgan... Kandi Technologies (KNDI), up 6% after China Daily said China will not to waive a sales tax on electric cars made by foreign companies. Tesla (TSLA) is down 1% following the report. UP AFTER EARNINGS: Halliburton (HAL), up 0.5%... LOWER: Reynolds American (RAI), down 2.3% after a Florida jury hit the company with $23.6B in punitive damages in a lawsuit filed by the widow of a longtime smoker. Shares of fellow tobacco companies also fell after the jury decision, as Lorillard (LO) fell 2% and Altria (MO) slid 1.6%... Yum! Brands (YUM), down 2% after AP reported that a Shanghai TV station said a food supplier sold expired beef and chicken to the company's KFC brand in China along with to McDonald's (MCD), which is down 0.7%. DOWN AFTER EARNINGS: PetMed Express (PETS), down 2.4%... Hasbro (HAS), down 1.3%.
08:35 EDTEMCEMC shares poised to advance, says Cantor
Subscribe for More Information
06:27 EDTVMW, EMCElliott Management to push EMC to break up, WSJ reports
Elliott Management has taken a stake of over $1B in EMC (EMC), according to sources, and plans to push the data-storage company to break itself up, the Wall Street Journal reports. Elliott reportedly believes EMC's stock would get a boost from spinning off VMware (VMW), of which it owns an 80% stake. Reference Link
06:02 EDTEMCEMC volatility expected to move on activist investor stake & Q2
Subscribe for More Information
July 17, 2014
12:15 EDTEMCSanDisk plummets after Q3 revenue outlook disappoints
Subscribe for More Information
08:08 EDTPFEBristol-Myers, Pfizer announce enrollment in Phase IV EMANATE trial for Eliquis
Subscribe for More Information
05:17 EDTFFord launches product acceleration in Middle East, Africa
Subscribe for More Information
1 | 2 | 3 | 4 | 5 | 6 | 7 | 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