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Stock Market & Financial Investment News

News Breaks
May 21, 2012
12:21 EDTAEO, RGR, RENN, DVA, LOW, ETN, CPB, YHOO, CBE, KKD, FBOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, rebounding a bit from last week's dismal performance, which was the worst this year for U.S. equity markets. Near noon the market was off of its best levels and had been drifting in a narrow range since mid-morning. The market move is due more to a bounce from an oversold condition than from any data reported in either Europe or the U.S. There was little on the U.S. economic calendar, with the exception of the Chicago Fed National Activity Index, which went largely unnoticed when reported during the pre-market trading session... ECONOMIC EVENTS: In the U.S., the Chicago Fed National Activity Index rebounded a bit to a reading of +0.11 for the month of April, up from -0.29 a month ago. In Europe, stocks gained in spite of little in the way of concrete plans for the region coming out of the weekend's meeting of the G-8 leaders... COMPANY NEWS: Facebook (FB) shares fell below their $38 issue price in premarket trading and continued to slide as much as 13.7% before stabilizing near $33. Near noon, shares were down $4.49, or 11.59%, to $33.74... Yahoo! (YHOO) reached a deal for a plan to sell out of its 40% stake in Alibaba, including an initial sale of 20% of Alibaba back to the company for $7.1B. Yahoo! said it intends to return substantially all of the after-tax cash proceeds to shareholders from the deal and did not finalize the form of the return of capital but did increase its share buyback authorization by $5B. However, Yahoo shares only moved up about 0.3% on the news... Shares of Lowes (LOW) slid almost 10% in spite of sales and profits that beat estimates, as the company's yearly earnings guidance came in below consensus. Among other companies reporting earnings, Krispy Kreme (KKD) advanced while Campbell Soup (CPB) declined... DaVita (DVA) agreed to purchase HealthCare Partners for $4.42B, which investors applauded by driving shares up more than 4%... MAJOR MOVERS: Among the notable gainers were Cooper Industries (CBE), up nearly 27%, after agreeing to be acquired by Eaton Corporation (ETN) in a cash and stock deal valued at $72.00 per share, representing a premium of 29% to Cooper's closing price on Friday, and American Eagle (AEO), up more than 10%, following an upgrade to Buy at Brean Murray ahead of Wednesday's earnings report and after the company announced it plans to eliminate children's brand 77kids and its CFO stepped down. Noteworthy losers included Renren (RENN), down almost 3%, as it was dragged down in concert with the steep decline seen in Facebook, and Sturm, Ruger (RGR), down about 6%, after being initiated with a Sell rating at Off Wall Street Research... INDICES: Near noon, the Dow was up 96.57, or 0.78%, to 12,465.95; the Nasdaq was up 44.42, or 1.60%, to 2,823.21; and the S&P 500 was up 14.44, or 1.11%, to 1,309.66.
News For FB;YHOO;LOW;KKD;CPB;DVA;CBE;ETN;AEO;RENN;RGR From The Last 14 Days
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March 20, 2015
06:09 EDTFBFacebook seeking advertising revenue in Brazil's poorest communities, WSJ says
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05:57 EDTFBFacebook's David Recordon as director of White House IT
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March 19, 2015
16:01 EDTFBOptions Update; March 19, 2015
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11:07 EDTFBFacebook volatility at low end of historic range; shares at fresh life high
Facebook March weekly call option implied volatility is at 25, April is at 23, May is at 30; compared to its 26-week average of 32 according to Track Data, suggesting decreasing price movement as shares trade at fresh life high.
11:02 EDTFBFacebook hits fresh life, levels to watch
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09:37 EDTFBActive equity options trading on open
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07:10 EDTETNEndeavor IP subsidiary enters into license, settlement agreement with Eaton
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06:55 EDTFBCertain news agencies form advertising alliance to rival Google, others, BI says
The Guardian, CNN International, The Financial Times , Reuters (TRI) and The Economist are forming an advertising alliance, called Pangaea, in hopes of rivaling Google (GOOG), Facebook (FB), Twitter (TWTR), and LinkedIn (LNKD), reports Business Insider UK. The Financial Times is owned by Pearson (PSO), The Economist Group is 50% owned by Pearson via The Financial Times, and CNN is owned by Time Warner (TWX). Reference Link
05:42 EDTFBeBay downgraded to Underweight from Neutral at Piper Jaffray
Piper Jaffray analyst Gene Munster downgraded eBay (EBAY) to Underweight, the firm's sell-equivalent rating, saying competition from Google Wallet (GOOG), Apple Pay (AAPL), Facebook (FB) and Samsung will weigh on PayPal's valuation and market share over the next three years. Munster notes shares of eBay are up 12% since the beginning of February due to optimism around the PayPal spin-out. He cut his price target for shares to $49 from $55. The online marketplace and PayPal owner closed yesterday down $1.07 to $58.42.
March 18, 2015
19:29 EDTRENNRenren reports Q4 EPS 10c, may not compare to one estimate (6c)
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19:05 EDTRENNRenren sees Q1 revenue $11M-$13M, may not compare to one estimate $29.72M
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18:07 EDTRENNRenren Reports Q4 revenue $17.2M, one estimate $16.3M
Sees Q1 revenue $11M-$13M, may not compare to one estimate $29.72M. Reported by Bloomberg.
17:50 EDTYHOOYahoo exits China operations, WSJ says
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16:00 EDTFBOptions Update; March 18, 2015
iPath S&P 500 VIX Short-Term Futures down 1.20 to 26.10. Option volume leaders: AAPL RAD PBR TWTR FB TSLA CLF BP MGM according to Track Data.
15:20 EDTRENNNotable companies reporting after market close
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11:24 EDTFBeBay falls after Facebook adds friend-to friend payment option
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10:18 EDTLOWEvercore ISI to hold a summit and tour
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10:06 EDTYHOOYahoo to close Beijing R&D office, SCMP says
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09:36 EDTFBActive equity options trading on open
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07:30 EDTDVADeutsche Bank to hold a conference
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