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News For FB;ZNGA;YUM;MDRX;BX;CBK;FIVE;NTLS;S;VRSN From The Last 14 Days Check below for free stories on FB;ZNGA;YUM;MDRX;BX;CBK;FIVE;NTLS;S;VRSN the last two weeks. |
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| June 19, 2013 |
| 16:26 EDT |  | S | On The Fly: Closing Wrap
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| 16:12 EDT |  | ZNGA | Zynga acquires social slot maker Spooky Cool Labs
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| 16:02 EDT |  | FIVE | Five Below files to sell 8.6M shares of common stock
Goldman, Sachs & Co., Barclays Capital Inc., Jefferies LLC, Credit Suisse Securities (USA) LLC and Deutsche Bank Securities Inc. are acting as joint book-running managers of the offering, UBS Securities LLC and Wells Fargo Securities, LLC are acting as co-managers of the offering, and Goldman, Sachs & Co., Barclays Capital Inc. and Jefferies LLC are the representatives of the underwriters. |
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| 12:09 EDT | | S | On The Fly: Midday Wrap
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| 12:06 EDT |  | S | Options with decreasing implied volatility: DISH VRTX SUPN S
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| 10:38 EDT |  | FB | Samsung likely to reject idea of Facebook phone, Korea Herald says
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| 10:25 EDT | | S | Sprint shares worth $7.51 under SoftBank deal, says Janco
Janco calculates that current Sprint shareholders will receive $7.51 per share upon the closing of the deal with SoftBank, which the firm expects to happen on Tuesday, June 25. The firm views upside to $7.51 from current levels as attractive and keeps a Buy rating on Sprint shares. |
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| 10:01 EDT |  | S | On The Fly: Analyst Downgrade Summary
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| 09:24 EDT | | S | On The Fly: Pre-market Movers
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| 08:44 EDT | | S | Sprint acquisition by SoftBank likely to be approved, says Wells Fargo
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| 08:08 EDT | | FB | Merkel tells Obama: Internet monitoring must have proper limits, Reuters reports
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| 08:05 EDT | | S | Sprint down 3% to $7.10 after DISH ends takeover pursuit
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| 07:59 EDT | | S | Sprint downgraded at Macquarie
As previously reported, Macquarie downgraded Sprint to Neutral from Outperform. The firm recommends taking profits and believes the company is entering a period of heavy investment. Price target is $8. |
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| 07:54 EDT | | FB | Facebook says over 1M active advertisers
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| 07:13 EDT | | S | Telecom industry looks to grow through acquisition, Bloomberg reports
Global telecommunications companies are chasing after deals from Kansas to Munich in a quest for revenue growth that could lead to the biggest year for mergers in the industry since at least 2006, reports Bloomberg. Over $80B in telecommunications and cable transactions have already been announced or completed this year Reference Link |
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| 07:11 EDT | | S | Softbank moves closer to acquiring Sprint, Reuters reports
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| 06:26 EDT | | S | Sprint downgraded to Neutral from Outperform at Macquarie
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| 06:08 EDT | | S | On the Fly: Periodicals Wrap-Up
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| June 18, 2013 |
| 18:36 EDT | | S | DISH issues update on Sprint proposal
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| 14:17 EDT | | FB | Samsung may launch smartphone optimized for Facebook, Korea Times says
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| 11:30 EDT | | S | DISH issues statement on Sprint complaint
DISH Network (DISH) issued the following statement in response to Sprint Nextel's (S) June 17 allegations against DISH and Clearwire (CLWR): “Sprint’s lawsuit is a transparent attempt to divert attention from its failure to deal fairly with Clearwire’s shareholders, as well as to exploit its majority position to block Clearwire’s shareholders from receiving a fair price for their shares. DISH is confident that its superior offer, which has been unanimously recommended by the Clearwire Board, including the majority appointed by Sprint, will be upheld and Clearwire shareholders will be free to realize the 29 percent premium represented by the DISH offer.” |
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| 10:49 EDT | | BX | Siemens seeks private equity offers for Nokia Siemens Networks, Reuters says
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| 09:48 EDT | | FB | Facebook, Samsung meeting sparks mobile plan questions, TechCrunch says
Facebook (FB) CEO Mark Zuckerberg met with Samsung (SSNLF) President Shin Jong Kyun to discuss a potential future for the two companies coming together to increase their revenue from mobile device ad sales, reported TechCrunch. Reference Link |
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| 09:08 EDT | | FB | Amazon.com announces social gift giving service
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| 07:42 EDT | | ZNGA | May U.S. retail video game sales fall 25%, Bloomberg reports
U.S. retail sales of video game hardware, software and accessories tumbled 25% to $386.3M this past May, with overall hardware sales down 31% from last year to $96M, reported Bloomberg citing data from NPD Group. Reference Link |
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| 07:42 EDT |  | FB | O'Reilly Media to hold a conference
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| 05:55 EDT | | S | Stocks with implied volatility movement; S KNDI
Stocks with implied volatility movement; Sprint (S), Kandi Technologies (KNDI) according to IVolatility. |
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| June 17, 2013 |
| 19:19 EDT | | S | Sprint files suit against DISH, Clearwire over tender offer
Sprint (S) announced that it has filed a complaint in the Delaware Court of Chancery against DISH Network (DISH) and Clearwire (CLWR) asking the court to prevent the consummation of the DISH tender offer for Clearwire. Sprint believes the transaction violates Delaware law and the rights of both Sprint and Clearwire’s other strategic investors under Clearwire’s charter and under the equity hHolders agreement. In addition to seeking to enjoin the tender offer, Sprint’s lawsuit seeks to rescind certain parts of the tender offer agreement and seeks declaratory, injunctive, compensatory and other relief. |
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| 11:18 EDT | | S | Samsung phone to transmit data at much faster speed, Reuters reports
Samsung intends to sell a version of its Galaxy S 4 smartphone that will transmit data at almost twice the speed of devices that use conventional LTE, the company's co-CEO said, according to Reuters. The company is in talks with a number of carriers about selling the new phone, the executive told Reuters. Reference Link |
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| 08:25 EDT | | FB | Instagram may receive video on June 20, TechCrunch reports
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| 07:23 EDT | | YUM | Jefferies to host a conference
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| 07:11 EDT | | FB | Apple received nearly 5,000 data requests in six months, Reuters reports
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| 06:19 EDT | | FB | Facebook to launch news reader at June 20 event, TechCrunch reports
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| June 14, 2013 |
| 15:23 EDT | | FB | Facebook product launch event coming June 20, ABC says
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| 12:06 EDT | | FB | Facebook in talks with government to allow FISA disclosuers, AllThignsD says
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| 10:31 EDT | | S | Sprint issues statement in response to White House broadband initiatives
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| 09:55 EDT | | S | T-Mobile confirmed by Softbank as 'Plan B' if Sprint bid fails, Bloomberg says
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| 09:01 EDT | | FB | Facebook changes may create growth risks, says Pacific Crest
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| 07:23 EDT | | BX | Siemens considers deal for Nokia Siemens, WSJ reports
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| 07:15 EDT | | S | NSA data not collected directly from Verizon Wireless, T-Mobile, WSJ says
Because of their foreign ownership ties, Verizon Wireless (VZ, VOD) and T-Mobile USA (TMUS, DTEGY) do not have data on their calls collected directly by the National Security Agency, according to The Wall Street Journal, citing people familiar with the matter. The Journal's sources said the other two nationwide carriers, AT&T (T) and Sprint (S), have long cooperated with the government and officials believe they can still capture information on 99% of U.S. phone traffic because nearly all calls eventually travel over the networks owned by other cooperating companies. Reference Link |
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| 07:15 EDT | | FB | Facebook to stop showing search ads, AllThingsD says
Facebook will no longer show ads in its search results, according to AllThingsD. Reference Link |
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| 07:13 EDT | | S | ISS wants Clearwire shareholders to reject Sprint deal, Reuters reports
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| 07:12 EDT | | FB | Large Internet companies could be hurt by spying revelations, Politico says
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| 06:08 EDT | | S | On the Fly: Periodicals Wrap-Up
WALL STREET JOURNAL: The strong Q1 corporate profits may not be as good as they look, according to an analysis by the Wall Street Journal that shows that the extension of a big tax credit quietly boosted the profits of dozens of companies...Many investors have lowered their expectations for future inflation, a shift that could get the attention of Fed officials as they consider the course of their bond-buying program at a policy meeting next week. The Fed has a 2% inflation goal and doesn't want consumer prices to veer too much above or below that number over time, the Wall Street Journal reports...REUTERS: Proxy advisory firm Institutional Shareholder Services urged Clearwire (CLWR) shareholders to vote against majority shareholder Sprint Nextel’s (S) $3.40 per share offer for Clearwire stock it does not already own, Reuters reports...U.S. investment firm Royalty Pharma said it expects the majority of takeover target Elan's (ELN) shareholders will reject the Irish firm's own proposed acquisition deals at a shareholder meeting on Monday, Reuters reports...BLOOMBERG: Boeing (BA), coming back from the 787 Dreamliner’s three-month grounding, is moving closer to a further production increase that would reward investors by freeing up billions of dollars for dividends and buybacks, Bloomberg reports...Fiat (FIATY) and Chrysler Group CEO Sergio Marchionne is closing in on refinancing deals for both automakers ahead of a plan to merge the two companies, sources say, Bloomberg reports. |
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| 06:06 EDT | | S | Dish's broken pledge complaint called 'nonsensical,' Bloomberg reports
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| 05:51 EDT | | FB | Companies often reject U.S. demands for Internet data, WSJ reports
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| June 13, 2013 |
| 16:50 EDT | | MDRX | OnePartner extends partnership with Allscripts
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| 11:26 EDT | | CBK | Christopher & Banks management to meet with Dougherty
Meeting to be held in Minneapolis, MN on June 18 hosted by Dougherty. |
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| 08:05 EDT | | S | Clearwire postpones special shareholder meeting
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| 07:10 EDT | | BX | Blackstone has $1.5B of initial pledges for Asia property fund, Bloombergs says
Blackstone Group has $1.5B of capital commitments for its first Asian property fund, targeted at $4B. The firm said it plans to begin investing the money immediately, focusing on China, India, Australia and Japan, sources say, reports Bloomberg.Reference Link |
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| 06:10 EDT | | BX | On the Fly: Periodicals Wrap-Up
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| June 12, 2013 |
| 19:06 EDT | | S | Sprint says evaluating statement from Clearwire board
Sprint (S) issued the following statement in response to Clearwire (CLWR) board of directors’ recommendation of the DISH (DISH) tender offer: “Sprint is evaluating today’s statement from Clearwire’s board and will review any corresponding filings before determining its next steps. Sprint continues to have every intention of enforcing its governance rights. All commercial agreements, including network and customer agreements, will be honored and enforced as it regards our ongoing relationship with Clearwire.” |
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| 17:41 EDT | | S | Clearwire committee, board recommend holders accept DISH's $4.40 p/s offer
Clearwire (CLWR) announced that its board of directors, based on the unanimous recommendation of the Special Committee consisting of independent, non-Sprint (S)-affiliated directors, has unanimously recommended that stockholders accept and tender into DISH Network's (DISH) cash tender offer to acquire all outstanding common shares of Clearwire at the previously announced price of $4.40 per share. The DISH tender offer has been amended and now is currently set to expire at 12:00 midnight, Eastern time, at the end of July 2, unless extended or terminated in accordance with the terms and conditions of the offer. The company's board of directors, also based on the unanimous recommendation of the Special Committee, also unanimously recommended that stockholders now vote against the $3.40 per share Sprint merger and related matters. The DISH tender offer is subject to various conditions, including the tender of more than 25% of the fully diluted voting stock in Clearwire and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act. |
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| 16:09 EDT |  | FIVE | Five Below sees FY13 EPS 65c-68c , consensus 67c
Sees FY13 revenue $524M-$529M, consensus $530.71M |
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| 16:07 EDT | | FIVE | Five Below sees Q2 EPS 8c-9c , consensus 8c
Sees Q2 revenue $112M-$114M , consensus $109.92M. |
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| 16:05 EDT | | FIVE | Five Below reports Q1 EPS 5c, consensus 4c
Reports Q1 revenue $95.6M, consensus $94.23M. |
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| 13:33 EDT | | FB | Facebook introduces hashtags
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| 11:59 EDT | | BX | Blackstone planning to offer mutual fund, Bloomberg says
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| 10:14 EDT |  | MDRX | On the Fly: Initiation Summary
AMRI (AMRI) coverage resumed with a Buy at Sterne Agee… AMRI (AMRI) re-initiated with a Buy at Sterne Agee… Allscripts (MDRX) re-initiated with a Buy at Sterne Agee… Amkor Technology (AMKR) initiated with a Buy at Sidoti… Astec (ASTE) initiated with a Hold at Stifel… Bob Evans (BOBE) initiated with an Outperform at Oppenheimer… Calumet Specialty Products (CLMT) initiated with an Outperform at Credit Suisse… Cerner (CERN) re-initiated with a Neutral at Sterne Agee… Charles River Labs (CRL) re-initiated with a Buy at Sterne Agee… Covance (CVD) re-initiated with a Buy at Sterne Agee… First Republic Bank (FRC) initiated with an Overweight at Barclays… Greenway Medical (GWAY) re-initiated with an Underperform at Sterne Agee… Gulfport Energy (GPOR) re-initiated with an Outperform at Credit Suisse… ICON plc (ICLR) re-initiated with a Neutral at Sterne Agee… Manitowoc (MTW) initiated with a Buy at Stifel… PAREXEL (PRXL) re-initiated with a Neutral at Sterne Agee… Pacific Drilling (PACD) initiated with an Outperform at Credit Suisse… Perrigo (PRGO) initiated with an Overweight at Morgan Stanley… Quality Systems (QSII) re-initiated with a Neutral at Sterne Agee… Quintiles (Q) initiated with an Underperform at Sterne Agee… Reliance Steel (RS) initiated with a Hold at Topeka… SVB Financial (SIVB) initiated with an Equal Weight at Barclays… Terex (TEX) initiated with a Buy at Stifel… Texas Roadhouse (TXRH) initiated with a Buy at BofA/Merrill… Whiting Petroleum (WLL) initiated with an In-Line at Imperial Capital… athenahealth (ATHN) re-initiated with a Neutral at Sterne Agee. |
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| 09:28 EDT | | MDRX | Allscripts management to meet with Lazard Capital
Meeting to be held in Denver, CO on June 13 hosted by Lazard Capital. |
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| 09:17 EDT | | YUM | Yum! Brands visibility remains limited, says Goldman
Goldman said Yum reported inline May CHina same-store-sales of down 19% but visibility into recovery timing remains limited. The firm remains Neutral rated given risk to Q4 estimates and valuation. |
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| 09:07 EDT | | YUM | On The Fly: Pre-market Movers
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| 07:30 EDT | | S | ISS backs Softbank's raised offer for Sprint, Reuters says
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| 07:27 EDT | | S | The Linley Group to host a conference
Linley Tech Carrier Conference 2013 is being held in Santa Clara, California on June 12-13. |
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| 07:13 EDT | | YUM | Yum! Brands China SSS fall slightly below expectations, says UBS
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| 06:49 EDT | | MDRX | Allscripts re-initiated with a Buy at Sterne Agee
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| 06:14 EDT | | FB | U.S. tech firms demand government transparency on security, Reutters reports
Three major U.S. Internet companies --Google (GOOG), Microsoft (MSFT) and Facebook (FB)-- called on the U.S. government to provide greater transparency on national security requests, as they sought to distance themselves from reports that portrayed the companies as willing partners in supplying mass user data to security agencies, reports Reuters.Reference Link |
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| June 11, 2013 |
| 18:50 EDT | | YUM | On The Fly: After Hours Movers
UP AFTER EARNINGS: Ulta Salon (ULTA), up 9.5%. ALSO HIGHER: Rambus (RMBS), up 8.2% after announcing a patent license agreement that will pay the company $12M per quarter for the next five years. LOWER: Celsion (CLSN), down 22.6% after a Seeking Alpha contributor said the company's Phase III ThermoDox trial was a "total disaster" and that the stock could have 50% downside... Yum! Brands (YUM), down 1.7% after saying it sees Q2 China division same-store sales down 20%... First Solar (FSLR), down 7.1% after filing to sell 8.5M shares of common stock... Icahn Enterprises (IEP), down 5.1% after announcing an offering of depositary units representing limited partner interests. |
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| 17:19 EDT | | S | Sprint gives DISH June 18 deadline for 'best and final' offer
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| 16:46 EDT | | YUM | Yum! Brands sees China KFC SSS positive in Q4
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| 16:36 EDT | | YUM | Yum! Brands sees Q2 China division SSS down 20%
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| 16:33 EDT | | YUM | Yum! Brands says China SSS down 19% in May
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| 16:21 EDT | | S | On The Fly: Closing Wrap
Stocks on Wall Street were lower after the Bank of Japan's decision to hold off on any further stimulus measures raised investor concern. The averages recovered much of their early losses in the morning, sitting just below the flat line near noon, but the selling intensified during the second half of the session, with the market trending lower into the close. ECONOMIC EVENTS: In the U.S., NFIB's small business optimism index rose to 94.4 in May from a prior 92.1 reading. Wholesale inventories rose 0.2% in April, matching expectations, and wholesale trade rose 0.5% from the prior month, versus expectations for a 0.1% slide. The Job Openings & Labor Turnover report for April showed openings fell 3% to a seasonally adjusted 3.75M, while hiring jumped nearly 5% to 4.4M. In Asia, the Bank of Japan refrained from changing its policies following recent volatility in its stock and bond markets. The dollar weakened considerably against the Yen, losing more than 2% to trade near the Y96 level. COMPANY NEWS: Sprint (S) shares jumped 17c, or 2.37%, to $7.35 after Japan's Softbank (SFTBF) increased its offer to acquire the telecom company in the face of a potential rival bid from DISH Network (DISH). MAJOR MOVERS: Among notable gainers was Questcor (QCOR), up $5.47, or 14.9%, to $42.18 after the company acquired the right to develop Synacthen from Novartis (NVS). Also higher was Catamaran (CTRX), up $5.33, or 10.95%, to $53.99 after the company struck a ten-year strategic pharmacy benefits agreement with Cigna (CI) and its stock received upgrades from at least three firms. Among noteworthy losers was lululemon (LULU), down $14.43, or 17.54%, to $67.85 after its CEO announced plans to step down and the stock was downgraded at Sterne Agee and UBS. Also lower was GenMark Diagnostics (GNMK) which lost $1.96, or 12.95%, to $13.17, after Natural Molecular Testing launched a cardiac testing panel using technology from GenMark's competitor Luminex (LMNX). INDICES: The Dow was down 116.57, or 0.76%, to 15,122.02; the Nasdaq was down 36.82, or 1.06%, to 3,436.95; and the S&P 500 was down 16.68, or 1.02%, to 1,626.13. |
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| 15:41 EDT | | FIVE | Five Below June 35 straddle priced for 11.2% movement into Q1
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| 15:14 EDT | | S | Clearwire holder Crest calls for board to open 'competitive bidding process'
Crest Financial Limited, the largest of the independent minority stockholders of Clearwire Corporation (CLWR), made public a letter to Clearwire's Board of Directors reiterating its view that DISH Network's (DISH) tender offer for all outstanding shares of Clearwire for $4.40 per share "is both actionable and superior in every way to Sprint Nextel Corporation's current offer of $3.40 per share." Crest noted that SoftBank's (SFTBF) increased bid for Sprint (S) confirms that SoftBank's desire for Clearwire's spectrum "has only increased." Crest urged the Clearwire Board to pursue a "direct, competitive bidding process for the Company." In order to pursue that process, Crest demanded that the Clearwire Board "reconstitute the Special Committee with truly independent directors, fully consider DISH's tender offer to the stockholders of Clearwire, and free the company from Sprint's grip by terminating the merger agreement following stockholders' rejection of the Sprint-Clearwire merger on Thursday." |
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| 14:30 EDT | | FB | Facebook CEO 'disappointed' in stock performance
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| 12:53 EDT | | S | DISH, Sprint talks stumble on breakup fee, Bloomberg says
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| 12:48 EDT | | S | Sprint, DISH talks falter on disagreement over break-up fee, Bloomberg says
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| 12:32 EDT | | S | On The Fly: Midday Wrap
Stocks on Wall Street were lower at midday but well off their lows after the Bank of Japan held off from implementing any additional stimulus measures. The U.S. market followed Japan's benchmark stock index lower at the open, though the averages climbed back fairly steadily during the morning and stood near session highs just a bit below the flat line near noon. ECONOMIC EVENTS: In the U.S., NFIB's small business optimism index rose to 94.4 in May from a prior 92.1 reading. Wholesale inventories rose 0.2% in April, matching expectations, and wholesale trade rose 0.5% from the prior month, versus expectations for a 0.1% slide. The Job Openings & Labor Turnover report for April showed openings fell 3% to a seasonally adjusted 3.75M, while hiring jumped nearly 5% to 4.4M. In Asia, the Bank of Japan refrained from changing its policies following recent volatility in its stock and bond markets. The benchmark Nikkei fell about 1.5% as the decision disappointed investors who may have expected some action. COMPANY NEWS: Sprint (S) shares rose over 2% after Japan's Softbank (SFTBF) increased its offer to acquire the telecom company in the face of a potential rival bid from DISH Network (DISH). MAJOR MOVERS: Among the notable gainers was Catamaran (CTRX), which was upgraded by at least three Street firms and rose 11% after announcing a ten-year strategic pharmacy benefits deal with Cigna (CI). Also higher were shares of Questcor (QCOR), which jumped 19% after buying the rights to develop Synacthen from Novartis (NVS). Among the noteworthy losers was GenMark Diagnostics (GNMK), which fell 24% after Natural Molecular Testing launched a cardiac testing panel using technology from GenMark's competitor Luminex (LMNX). Also lower were shares of yoga apparel maker lululemon (LULU), which fell 17% after its CEO announced plans to step down and the stock was downgraded at Sterne Agee and UBS. INDICES: Near noon, the Dow was down 6.68, or 0.04%, to 15,231.91; the Nasdaq was down 11.21, or 0.32%, to 3,462.56; and the S&P 500 was down 4.89, or 0.30%, to 1,637.92. |
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| 09:16 EDT | | S | On The Fly: Pre-market Movers
HIGHER: Dole Food (DOLE), up 21.9% after CEO offers buyout at $12 per share... Questcor (QCOR), up 32% after buying rights to develop Synacthen and Synacthen Depot in the U.S. from Novartis (NVS), upgrade to Buy at CRT Capital... CardioNet (BEAT), up 44% after announcing a three-year national provider agreement with UnitedHealthcare Insurance (UNH)... Catamaran (CTRX), up 13.2% after announcing a ten-year strategic pharmacy benefits deal with Cigna (CI)... Sprint (S), up 2% after Softbank (SFTBF) increases buyout offer terms. Clearwire (CLWR) up 1.2%. LOWER: lululemon (LULU), down 14.9% after reporting earnings, CEO announces plans to step down, stock downgraded at Sterne Agee and UBS... Texas Instruments (TXN), down 2% after narrowing second quarter revenue, earnings forecast ranges... Corinthian Colleges (COCO), down 15.4% after disclosing the receipt of a subpoena from the SEC. Corinthian peer Career Education (CECO) 5.5%... Kinross Gold (KGC), down 5.5% after canceling development project in Ecuador, taking $720M charge, stock downgraded at Canaccord. DOWN AFTER EARNINGS: LDK Solar (LDK), down 8.5%. |
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| 08:16 EDT | | S | Sprint likely to accept new Softbank offer, says Oppenheimer
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| 05:46 EDT | | BX | Market for high-priced skyscrapers grows, WSJ reports
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| 05:21 EDT | | S | DISH statement in response to Sprint, Softbank announcement
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| June 10, 2013 |
| 21:00 EDT | | S | Sprint says DISH proposal not likely to lead to superior offer
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| 20:57 EDT | | S | Sprint, SoftBank amend merger agreement, cash for Sprint holders now $5.50/share
Sprint Nextel (S) and SoftBank (SFTBF) announced that they have amended the previously announced merger agreement between the two companies to deliver greater cash consideration and increased certainty to Sprint stockholders. Sprint’s special committee and board of directors have unanimously approved the amended agreement and have unanimously recommended to stockholders to vote FOR the revised SoftBank transaction. Sprint and SoftBank anticipate closing the SoftBank transaction in early July. Under the amended agreement, SoftBank will deliver an additional $4.5B of cash to Sprint stockholders at closing, bringing the total cash consideration available to Sprint stockholders to $16.64B. The cash available to stockholders has increased by $1.48 per share, from $4.02 to $5.50, based on the June 7 share count. The $4.5B of additional cash at closing will be funded by a reallocation of $3B of SoftBank’s previously proposed $4.9B primary investment in New Sprint and by $1.5B of incremental capital from SoftBank. The price at which SoftBank will acquire shares from current Sprint shareholders will be increased from $7.30 per share to $7.65 per share, a 52% premium to the unaffected trading price prior to announcement in October 2012. As part of the amended agreement, the pricing of SoftBank’s $1.9B primary investment will be increased by 19% from the previously agreed $5.25 per share to $6.25 per share. Pro forma for the transaction, the current Sprint stockholders’ resulting equity ownership in a new Sprint will be 22% while SoftBank will own approximately 78%. SoftBank will continue to invest $1.9B in new Sprint at closing, which in addition to the $3.1B convertible debt investment made by SoftBank in October 2012, brings SoftBank’s total investment in Sprint to $5B. |
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| 20:01 EDT | | S | Softbank raises offer for Sprint to $21.6B from $20.1B, Bloomberg says
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| 12:54 EDT | | S | DISH issues statement on Sprint proposal
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| 12:11 EDT | | FB | On The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after S&P raised its outlook on the U.S. economy, Chinese data disappointed and Japanese stocks rallied. Stocks began the session higher but the averages turned mixed within minutes and passed back and forth across the flatline in the early minutes of the trading day. The averages made a definitive move higher about an hour into trading and have remained in positive territory since. ECONOMIC EVENTS: In the U.S., ratings agency Standard & Poor's upgraded its outlook for the U.S. economy to stable from negative, pointing to the strengthening economy and the dollar's status as the world's "key reserve currency" as contributors to its decision. In Asia, Chinese exports posted their lowest growth in almost a year in May, while inflation, growth in bank lending and investment came in below expectations. Also, factory output and retail sales grew at a pace that was similar to previous months. However, in Japan, the Nikkei index rallied nearly 5% after the nation's gross domestic product expanded by an annualized 4.1% in the first quarter, which was stronger than the prior 3.5% growth estimate. COMPANY NEWS: Apple (AAPL) advanced over 1% ahead of the start of its Worldwide Developers Conference, which kicks off with a keynote address from CEO Tim Cook scheduled for 1 pm ET. An updated mobile iOS, a new version of its desktop operating system and new MacBooks have all been rumored to debut, but the most discussed potential announcement is Apple’s "iRadio" Pandora (P) competitor. Pandora shares were down almost 3% as the event approached... Facebook (FB) shares rallied 5% after research analysts at Stifel and JPMorgan both issued positive notes to investors about the social network company. MAJOR MOVERS: Among the notable gainers was Canadian Solar (CSIQ), which rose 7% after announcing a $300M deal for solar power plant construction. Among the noteworthy losers were Dynavax (DVAX), which dropped 34% after reporting feedback from an FDA meeting regarding its investigational adult hepatitis B vaccine, and Titan International (TWI), which fell over 8% following downgrades by at least three firms. INDICES: Near noon, the Dow was up 25.89, or 0.17%, to 15,274.01; the Nasdaq was up 14.18, or 0.41%, to 3,483.40; and the S&P 500 was up 3.76, or 0.23%, to 1,647.14. |
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| 10:57 EDT | | FB | Facebook advances following upbeat Street research
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| 10:28 EDT |  | FB | Facebook rises after upgrade, levels to watch
Shares are currently up over 5%, broadly outperforming the sector and peers, following an upgrade earlier today to Buy at Stifel. At the current price of $24.49, next resistance is at $25. This is an important technical level as it has been both support and resistance. Support is currently at $24.10. |
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| 09:28 EDT | | FB | On The Fly: Pre-market Movers
HIGHER: Monsanto (MON), up 3.5% after Monsanto following upgrade at Macquarie, comments from Morgan Stanley on implications of potential approval of product in China... Facebook (FB), up 3.1% following upgrade at Stifel, JPMorgan reiterating its Overweight rating on shares... Apricus Biosciences (APRI), up 14% after announcing European approval for ED drug Vitaros... McDonalds (MCD), up 1.8% after May global comp sales rose 2.6%. LOWER: Tesla (TSLA), down 3.2% following cautious mention over weekend in Barron's magazine... Titan International (TWI), down 5.8% following downgrades by at least three firms... Dynavax (DVAX), down 29% after reporting feedback from FDA meeting regarding Heplisav. |
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| 07:41 EDT | | FB | JPMorgan reiterates Overweight on Facebook after weakness
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| 07:40 EDT | | FB | Nielsen says social media dominates smartphones, tablets, LAT reports
A report recently released from Nielsen suggests that consumers use their smartphones and tablets for a number or reasons, however, time spent on social networking exceeds that of streaming videos or accessing sports, reported The Los Angeles Times. Reference Link |
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| 07:20 EDT | | FIVE | Five Below volatility at high end of historic range
Five Below overall option implied volatility of 51 is above its 26-week average of 45 according to Track Data, suggesting larger price movement. |
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| 06:55 EDT |  | FB | Facebook upgraded to Buy from Hold at Stifel
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| June 9, 2013 |
| 12:32 EDT | | FB | Sources: Google set to acquire Waze for $1.3B, Globes reports
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| June 8, 2013 |
| 15:49 EDT | | S | AT&T sacrifices profit margin for a half million more customers, WSJ says
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| June 7, 2013 |
| 16:32 EDT | | S | Softbank in talks with Deutsche Telekom on deal, Reuters says
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| 15:33 EDT | | S | Softbank eying Deutsche Telekom stake in T-Mobile, Reuters reports
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| 14:15 EDT | | S | Sprint says Mullen to serve as independent director after Softbank deal
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| 14:08 EDT | | S | Sprint in talks with DISH, says Softbank deal to be consummated in July
Sprint (S) and Softbank (SFTBF) are parties to the previously disclosed agreement and plan of merger, dated as of October 15, 2012. Consummation of the Sprint-Softbank merger remains subject to various conditions to closing, including receipt of approval of the FCC and adoption of the merger agreement by Sprint's stockholders. Sprint and Softbank anticipate the merger will be consummated in July, subject to the remaining closing conditions and the effect of the actions of the special committee of Sprint's board of directors, which is currently in discussions and negotiations with DISH Network (DISH) regarding the unsolicited proposal received from DISH in April or other developments with respect to such proposal. Sprint’s board of directors recommends its stockholders vote in favor of the transaction with Softbank. |
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| 12:57 EDT | | YUM | On The Fly: Midday Wrap
The Wall Street averages were all up about 1% near midday after the monthly jobs report beat forecasts. ECONOMIC EVENTS: In the U.S., the Labor Department reported employers added 175K jobs in May, beating expectations for 163K added jobs. The unemployment rate rose slightly to 7.6% in May from 7.5% in April, with the uptick attributed to more people entering the workforce. COMPANY NEWS: TiVo (TIVO) confirmed it had settled a patent lawsuit with Google's (GOOG) Motorola unit, Cisco (CSCO) and Time Warner Cable (TWC), as reported by media outlets yesterday. The company also doubled its stock buyback authorization, but TiVo shares, which had been higher yesterday on the initial reports, fell over 17% as the amount of money the company received in the deal fell short of analyst expectations. MAJOR MOVERS: Among the notable gainers were JinkoSolar (JKS) and Thor Industries (THO), which both gained over 10% following their earnings reports. Also higher were shares of Yum! Brands (YUM), which rose nearly 3% after UBS upgraded the stock to Buy. Among the losers were a number of companies that had hoped to convert to real estate investment trusts after the IRS formed a group to study issues relating to REIT conversions. Notably, Iron Mountain (IRM) fell almost 16%, Copart (CPRT) dropped over 6%, and Equinix (EQIX) slid over 5%. INDICES: Near 1 pm ET, the Dow was up 168.95, or 1.12%, to 15,209.57; the Nasdaq was up 35.12, or 1.03%, to 3,459.17; and the S&P 500 was up 15.41, or 0.95%, to 1,637.97. |
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| 11:57 EDT | | YUM | Yum! Brands moves higher, potential bullish pattern
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| 11:51 EDT | | YUM | Yum! Brands advances after UBS ups rating to Buy
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| 10:11 EDT | | S | On The Fly: Analyst Downgrade Summary
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| 10:11 EDT | | YUM | On The Fly: Analyst Upgrade Summary
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| 09:27 EDT | | CBK | On The Fly: Pre-market Movers
HIGHER: Concurrent (CCUR), up 9.2% after doubling its dividend... Christopher & Banks (CBK), up 9.1% after quarterly earnings, revenue beat expectations... Gamestop (GME), up 2.5% after Microsoft (MSFT) clarifies how games licensing will works on upcoming Xbox One system... Arena (ARNA), up 1.7% after saying Belviq weight-loss drug available in U.s. next week, triggering milestone payment. LOWER: TiVo (XXX), down 18.7% after announcing patent litigation with Google's (GOOG) Motorola, Cisco (CSCO) and Time Warner Cable (TWC), doubles stock buyback authorization... Iron Mountain (IRM), down 17.2%, Lamar Advertising (LAMR), down 8.3%, Equinix (EQIX), down 7.8%, CBS (CBS), down 2.1%, after IRS forms working group on REIT issues, which could delay some of those companies plans for or consideration of REIT conversion... Intel (INTC), down 0.8% following downgrade to Underweight at Piper Jaffray. |
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| 09:11 EDT | | FB | Facebook advertising engagement increasing, says Morgan Stanley
Morgan Stanley's analysis indicate Facebook advertising engagement is increasing, contrary to market concerns that levels are deteriorating due to lack of content control on where ads are displayed. The firm recommends adding to positions and reiterates its Overweight rating and $34 price target. |
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| 08:57 EDT | | YUM | Yum! Brands added to U.S. Key Call List at UBS
UBS added Yum! Brands to its Key Call List in conjunction with today's upgrade to Buy from Neutral. |
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| 08:07 EDT | | CBK | Christopher & Banks sees average store count to be down 8% in FY13
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| 08:05 EDT | | CBK | Christopher & Banks sees Q2 SSS to be up 8%-10%
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| 08:04 EDT | | CBK | Christopher & Banks reports Q1 EPS 2c, consensus (7c)
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| 07:40 EDT | | FB | Facebook recommended ahead of product launches at Morgan Stanley
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| 06:59 EDT | | S | Sprint downgraded to Neutral from Buy at Nomura
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| 06:53 EDT | | YUM | Yum! Brands upgraded to Buy from Neutral at UBS
UBS upgraded Yum! Brands based on expectations for an improvement in China sales and profitability. The firm expects margins to recover as bird flu concerns wane, unit growth slows, breakfast/extended hours become more efficient, and the integration of Little Sheep. Price target raised to $80 from $73. |
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| 06:53 EDT | | FB | U.S. collects data overseas from major Internet companies, NY Times reports
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| 06:39 EDT | | FB | Facebook to narrow down ad format choices for marketers, NY Times says
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| 05:26 EDT | | FB | Major Internet firms deny giving U.S. 'direct access' to servers, Reuters says
A number of big tech companies, including Apple (AAPL), Google (GOOG) and Facebook, said they don't provide any government agency with "direct access" to their servers, rebutting a Washington Post report that said they have granted such access under a classified data collection program, reports Reuters.Reference Link |
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| June 6, 2013 |
| 19:00 EDT | | BX | On The Fly: After Hours Movers
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| 18:14 EDT | | BX | Blackstone, partner to acquire Gafisa unit, WSJ reports
Blackstone (BX) and a partner have agreed to buy Gafisa's (GFA) Alphaville Urbanismo unit for about $1B, reports The Wall Street Journal, citing people familiar with the matter. Reference Link |
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| 17:19 EDT | | BX | Glimcher Realty Trust to purchase 60% stake in property for $111.8M
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| 16:10 EDT | | BX | Blackstone, partner reach deal to acquire Gafisa unit for $1B, Dow Jones says
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| 15:09 EDT | | CBK | Notable companies reporting before tomorrow's open
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| 10:01 EDT | | FIVE | On The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Cadence (CADX) initiated with a Neutral at Piper Jaffray... Costco (COST) initiated with a Buy at Sterne Agee... Dollar General (DG) initiated with a Neutral at Sterne Agee... Dollar Tree (DLTR) initiated with a Buy at Sterne Agee... Emeritus (ESC) initiated with a Neutral at Goldman... Enbridge (ENB) initiated with an Outperform at Macquarie... ExOne (XONE) initiated with a Buy at Canaccord... Family Dollar (FDO) initiated with a Neutral at Sterne Agee... Five Below (FIVE) initiated with a Neutral at Sterne Agee... Haemonetics (HAE) initiated with an Outperform at JMP Securities... ING Group (ING) initiated with a Buy at Jefferies... J.C. Penney (JCP) initiated with a Buy at Sterne Agee... Kohl's (KSS) initiated with a Neutral at Sterne Agee... Macy's (M) initiated with a Buy at Sterne Agee... Nordstrom (JWN) initiated with a Buy at Sterne Agee... Saks (SKS) initiated with a Neutral at Sterne Agee... Signature Bank (SBNY) initiated with an Overweight at Morgan Stanley... The Fresh Market (TFM) initiated with a Buy at Sterne Agee... The Medicines Co. (MDCO) initiated with an Overweight at Piper Jaffray... Vitamin Shoppe (VSI) initiated with a Buy at Sterne Agee... Whole Foods (WFM) initiated with a Buy at Sterne Agee... SkyWest (SKYW) initiated with an In-Line at Imperial Capital... W&T Offshore (WTI) initiated with a Buy at SunTrust... Canadian Natural (CNQ) initiated with an Accumulate at Global Hunter... Cenovus Energy (CVE) initiated with a Buy at Global Hunter... Suncor (SU) initiated with a Buy at Global Hunter... Freeport McMoRan (FCX) coverage resumed with a Buy at Jefferies. |
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| 09:42 EDT | | YUM | Yum! management of Little Sheep brand questioned, South China Morning Post says
A new Chinese media report is questioning whether Yum! Brands is spoiling the Little Sheep chain of hot pot restaurants it bought a year ago, though "the Chinese media report looks a bit biased against Yum," according to South China Morning Post blogger Doug Young. Reference Link |
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| 08:37 EDT | | BX | Blackstone volatility increases as shares pullback
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| 07:41 EDT | | S | Touchscreen BlackBerry A10 to launch in November, CNET says
BlackBerry's (BBRY) all-touchscreen A10 is scheduled to launch in November, according to CNET. Sprint (S) has already committed to selling the next flagship smartphone, the report noted. Reference Link |
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| 07:38 EDT | | FB | Credit Suisse to take lead on Alibaba IPO, Reuters reports
Credit Suisse (CS) is expected to take a leading role in the anticipated IPO of China's Alibaba Group, sources say, reports Reuters. The IPO may come by the end of this year and is likely to rival Facebook's (FB) $16B IPO in terms of size.Reference Link |
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| 06:16 EDT | | FIVE | Five Below initiated with a Neutral at Sterne Agee
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| June 5, 2013 |
| 15:02 EDT | | S | Options with increasing implied volatility: TLM IRM RHT S LINE
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| 11:46 EDT | | ZNGA | Laid off employee says Zynga strategy is terrible, The Next Web reports
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| 06:48 EDT | | FB | Facebook recent pullback a buying opportunity, says Piper Jaffray
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| 06:25 EDT | | FB | Software Sector upgraded to Attractive from Neutral at Goldman
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| 05:55 EDT | | S | Glass, Lewis to Sprint investors: Abstain on Softbank vote, WSJ reports
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