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Stock Market & Financial Investment News

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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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July 15, 2014
16:11 EDTYHOOYahoo sees Q3 revenue ex-tac $1.02B-$1.06B, consensus $1.10B
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16:10 EDTYHOOYahoo reports Q2 Price-per-Ad down 24% vs. last year
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16:08 EDTYHOOYahoo CEO says 'not satisfied' with Q2 results
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16:05 EDTYHOOYahoo reports Q2 EPS 37c, consensus 38c
Reports Q2 revenue ex-tac $1.04B, consensus $1.08B.
15:27 EDTYHOONotable companies reporting after market close
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13:06 EDTYHOOEarnings Preview: Yahoo shares trading flat ahead of Q2 earnings report
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11:13 EDTLLYPerrigo retreats after analyst sees limited potential buyers
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10:28 EDTKERXHigh option volume stocks
High option volume stocks: TRGT ALB UUP ADHD ROC WWW CTRL KERX IMGN NI
10:00 EDTYHOO, STXOn The Fly: Analyst Initiation Summary
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10:00 EDTLXKOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Adecogro (AGRO) downgraded to Underperform from Neutral at BofA/Merrill... Campbell Soup (CPB) downgraded to Sell from Neutral at Goldman... Credicorp (BAP) downgraded to Neutral from Overweight at JPMorgan... El Paso Pipeline (EPB) downgraded to Neutral from Buy at Citigroup... Kellogg (K) downgraded to Sell from Neutral at Goldman... Kodiak Oil & Gas (KOG) downgraded to Market Perform from Outperform at BMO Capital... Lexmark (LXK) downgraded at Bernstein... Maxim Integrated (MXIM) downgraded to Equal Weight from Overweight at Barclays... Republic Airways (RJET) downgraded to Underperform from Neutral at BofA/Merrill... Sasol (SSL) downgraded to Neutral from Buy at Citigroup... Time Warner (TWX) downgraded to Equal Weight from Overweight at Evercore.
08:53 EDTVMWVMware announces partnerships with China Telecom, Softbank
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08:06 EDTLLYAnthera Pharmaceuticals to host conference call
Management discusses the acquisition of Sollpura (liprotamase) for Exocrine Pancreatic Insufficiency from Eli Lilly & Company on a conference call to be held on July 15 at 8:30 am.
07:35 EDTLLYPerrigo potential buyers list could be limited, says Jefferies
After Globes reported that Perrigo retained an investment bank to assist with a potential merger, Jefferies says the list of potential buyers could be limited since the store brand business is fundamentally a high volume, lower margin model. The firm notes U.S. companies that currently do not have large over-the-counter divisions include Bristol-Myers (BMY), Eli Lilly (LLY) and Merck (MRK). Jefferies views the merger speculation surrounding Perrigo as not surprising given the company's strong long-term fundamentals and attractive Irish domicile. It has a Buy rating on the stock with a $160 price target.
07:32 EDTYHOOYahoo July 35.5 straddle priced for 4.5% move into Q2
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07:01 EDTVLOValero Energy volatility expected to move on Q2 guidance
Valero Energy volatility is expected to move after lowering Q2 earnings guidance. Overall option implied volatility of 31 is at its 26-week average according to Track Data, suggesting non-directional price movement.
06:41 EDTYHOOYahoo, Live Nation concert program to launch tonight, NY Times says
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06:27 EDTFAutomakers backing U.S.-EU trade deal, NY Times reports
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06:26 EDTLXKLexmark downgraded at Bernstein
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06:22 EDTLXKLexmark downgraded to Underperform from Market Perform at Bernstein
05:47 EDTLLYEli Lilly announces results from five datasets from Alzheimer's disease study
Eli Lilly announced results from an analyses of five datasets evaluating the relationship between cognitive and functional impairment in patients with mild Alzheimer's disease in the natural course of the disease. Analysis findings demonstrate that cognitive deficits predict subsequent functional deficits and suggest that cognitive decline experienced by patients is followed by an observable related decline in function, consistent with previously proposed hypotheses. These data were presented today at the Alzheimer's Association International Conference 2014 in Copenhagen, Denmark as part of the featured research session, "Statistics in the Race against Alzheimer's Disease." Hong Liu-Seifert, Ph.D., study research advisor at Eli Lilly stated, "These data support the concept that decline in cognition is later reflected in changes in function. This suggests that with treatments that target the underlying neuropathology of disease, effects on function may take longer to observe in clinical studies. Currently available scales were not developed to assess subtle functional changes or treatment effects on these deficits in patients with early or mild Alzheimer's disease, and there is debate as to how much variability exists in these scales globally. Therefore, we support discussion of alternative ways to demonstrate clinical meaningfulness in early or mild Alzheimer's disease."
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