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Stock Market & Financial Investment News

News Breaks
January 29, 2013
12:11 EDTF, HES, YHOO, SANM, BMC, STX, LXK, LLY, PFE, BSX, BTU, VLO, DHI, EMC, VMW, KERXOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday in spite of a consumer confidence reading that plunged to its lowest level in more than a year after workers assessed the impact of increased payroll taxes. Though the Nasdaq was marginally lower near noon, the Dow's move higher pushed it back near its 14,164.53 all time high... 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 widely beat expectations on both the top and bottom lines, but shares fell nearly 6% after the company also said it now expects to lose about $2B in Europe this year... Among others reporting earnings last night and this morning, advancers included DR Horton (DHI), Valero (VLO), Peabody Energy (BTU), Boston Scientific (BSX), Pfizer (PFE) and Eli Lilly (LLY); decliners included Lexmark (LXK), Seagate (STX), BMC Software (BMC), Yahoo! (YHOO) and Sanmina (SANM)... MAJOR MOVERS: Among the notable gainers was Hess (HES), which added almost another 10% after being up more than 6% yesterday. Shareholder Elliott Management, which is seeking to elect five directors to Hess' board, said that if managed appropriately, the equity value of Hess could be up to $126 per share. Also higher for a second straight session were shares of Keryx Biopharmaceuticals (KERX), up over 33% today after the price target on its shares was raised by at least three more firms. Among the noteworthy losers was VMware (VMW), which fell 20% and was downgraded by at least six firms following its Q4 results and FY13 guidance. Also lower by more than 4% were shares of EMC (EMC), which holds a majority ownership stake in VMware. Like VMware, EMC reported stronger than expected quarterly results but issued a cautious outlook for the year ahead... INDICES: Near noon, the Dow was up 55.11, or 0.40%, to 13,937.04; the Nasdaq was down 2.75, or 0.09%, to 3,151.55; and the S&P 500 was up 4.50, or 0.30%, to 1,504.68.
News For F;VMW;EMC;DHI;VLO;BTU;BSX;PFE;LLY;LXK;STX;BMC;SANM;YHOO;HES;KERX From The Last 14 Days
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October 13, 2014
12:13 EDTYHOOYahoo upgraded as BGC sees higher chances for tax efficient monetization
Research firm BGC Partners upgraded its rating on Yahoo (YHOO) to Buy from Hold, saying that the chances of the company monetizing its assets in a more tax efficient manner have increased now that Alibaba (BABA) has come public. Among the possible scenarios, Yahoo may be acquired by Alibaba, the firm added. WHAT'S NEW: Yahoo's chances of paying a relatively low tax rate on the sale of its stakes in Alibaba and Yahoo Japan, a Japanese Internet company, have risen, BGC Financial analyst Colin Gillis stated. Yahoo could owe up to $15B of taxes on its sale of the assets, the analyst estimated. If Yahoo pays full tax liability, its stakes would be worth $43.5B. If it pays no taxes, the assets would be worth $58.5B, he estimated. Gillis set his price target on Yahoo at $50, representing the midpoint of the two scenarios, he stated. Among various scenarios that could play out, Alibaba could choose to buy Yahoo and subsequently unload Yahoo's core business and the American company's stake in Yahoo Japan, the analyst said. Yahoo shareholders could receive cash and shares of Alibaba as part of such a deal, Gillis stated. If Yahoo is not acquired by Alibaba, the American company should combine with AOL (AOL), as recently proposed by activist investor Starboard Value, Gillis contended. Merging with AOL could accelerate Yahoo's revenue growth by over 50% and increase its EBITDA by over 35%, Gillis estimated. PRICE ACTION: In early afternoon trading, Yahoo fell 1% to $39.18.
11:00 EDTFFord adding 850 more jobs at Ford Rouge Center to build new F-150
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10:23 EDTFFord to hire 850 workers for Dearborn Rouge factories, WSJ says
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10:08 EDTYHOO, DHIOn The Fly: Analyst Upgrade Summary
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09:28 EDTYHOOYahoo upgraded to Buy from Hold at BGC Financial
BGC Financial analyst Colin Gillis upgraded his rating on Yahoo (YHOO) shares to Buy saying the company's remaining assets should get monetized in a more tax efficient manner now that Alibaba (BABA) is public. Gillis also points out that Alibaba could see benefits from acquiring Yahoo. He raised his price target for Yahoo shares to $50 from $37.
08:52 EDTDHIUS Building Products & Homebuilding sector lowered at Barclays
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08:01 EDTPFEPfizer announces FDA acceptance of Palbociclib NDA with priority review
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07:15 EDTEMCNational Association of Corporate Directors to hold a conference
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07:11 EDTDHID.R. Horton upgraded to Buy from Neutral at Compass Point
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07:02 EDTFFord and Carfax expand partnership
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06:44 EDTFRegulators seeking banks' auto loan data, Reuters reports
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October 10, 2014
10:49 EDTSANMHigh option volume stocks
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10:05 EDTHESHess calls active on renewed takeover chatter
Hess October 84 and 85 calls area active on total call volume of 2,700 contracts (300 puts) on renewed takeover chatter. October call option implied volatility is at 37, November is at 32, December is at 30, January is at 27; compared to its 26-week average of 20 according to Track Data. Active call volume suggests traders taking positions for large price movement.
10:03 EDTLLYEli Lilly olaratumab granted orphan designation as soft tissue sarcoma treatment
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10:01 EDTSTX, EMCOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
09:55 EDTHESRumor: Hess Corp. moves up on renewed takeover chatter
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09:38 EDTSANMActive equity options trading on open
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08:06 EDTPFEPfizer presents Staphylococcus aureus vaccine Phase 1, Phase 2 study data
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07:17 EDTFCitigroup and the Society of Automotive Analysts to co-host a summit
Automotive Investor Summit is being held in Southfield, Michigan on October 10.
06:44 EDTFFord reports China unit sold 95,875 vehicles in September, Reuters says
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