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Stock Market & Financial Investment News

News Breaks
March 12, 2014
12:26 EDTPLUG, WMT, FCEL, TSLAAnalyst sees FuelCell Energy poised for large deals
FuelCell Energy (FCEL) is poised to obtain "sizeable" contracts and could reach profitability, research firm Stifel wrote in a note to investors earlier today. FuelCell Energy develops fuel cell power plants. WHAT'S NEW: FuelCell's statements about large contracts during its first quarter earnings conference were "encouraging," wrote Stifel analyst Jeffrey Osborne. Specifically, the company said that it was "waiting on final customer and regulatory approval," adding that "inquiries and activity levels globally remain high," noted Osborne. FuelCell is well-positioned to obtain close to 100 megawatts of large scale projects in the U.S., the analyst believes. In coming months FuelCell will obtain "sizable" deals that will increase investors' interest in the stock and put the company on the path to profitability, forecast the analyst. Osborne hiked his price target on the stock to $4.10 from $2.30 and kept a Buy rating on the shares. Taking a much more pessimistic view on FuelCell was research firm Ardour, which downgraded the stock to Hold from Buy in a note to investors earlier today. FuelCell reported Q1 profits and revenue that were in-line with expectations, but its backlog continued to decline and its product gross margin fell, Ardour noted. WHAT'S NOTABLE: Recently the shares of fuel cell makers have spiked after Morgan Stanley speculated that a battery factory being launched by Tesla (TSLA) could enable utility customers to stop using the power grid. Additionally, fuel cell supplier Plug Power (PLUG) last month revealed that it had sold 1,738 hydrogen fuel cells to Wal-Mart (WMT). In a report published yesterday that was critical of Plug Power, Citron Research said the fair value of its stock is 50c and that "with no fundamental changes now or expected in its business model," Plug Power "has 'bust' written all over it." PRICE ACTION: In early afternoon trading, FuelCell fell 6c, or 1.5%, to $3.23. Since last Wednesday, March 6, FuelCell Energy's stock is up about 64%.
News For FCEL;PLUG;TSLA;WMT From The Last 14 Days
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December 10, 2014
16:00 EDTTSLAOptions Update; December 10, 2014
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14:31 EDTWMTWal-Mart names Judith McKenna as COO of Wal-Mart U.S.
McKenna succeeds Gisel Ruiz, who has been appointed executive vice president of Walmart’s International People Division.
13:27 EDTTSLATesla car registrations up over 150% in U.S. in October, WSJ says
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09:36 EDTTSLAActive equity options trading
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06:03 EDTPLUGPlug Power implied volatility of 72 at lower end of index mean range
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December 9, 2014
16:00 EDTTSLAOptions Update; December 9, 2014
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11:48 EDTTSLAStocks with call strike movement; NFLX TSLA
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09:38 EDTTSLAActive equity options trading
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07:37 EDTTSLAUBS to hold a conference
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07:35 EDTTSLATesla Motors volatility flat as shares trend lower
Tesla Motors December weekly call option implied volatility is at 48, December is at 42, January is at 39; compared to its 26-week average of 46 according to Track Data, suggesting non-directional price movement.
December 8, 2014
16:24 EDTWMTOn The Fly: Closing Wrap
Stocks on Wall Street were lower amid another drop in crude oil prices, which tumbled to five-year lows. The market opened slightly lower following weaker than expected data from China and Japan, with nothing of note on the domestic calendar to get buyers involved in the day’s activity. Near noon, the averages gained downside momentum and though the market pared its losses several times, it was never able to gain any steam to pull the indexes back into the green. ECONOMIC EVENTS: In the U.S., no major economic data was released. In Asia, Chinese exports rose 4.7% from a year earlier in November, which missed the consensus estimate for an 8% increase. Chinese imports fell 6.7% from the prior year last month, compared with projections for a 3.8% increase. Additionally, Japan's revised third quarter gross domestic product estimate showed the economy shrank more than initially thought, with growth contracting an annualized 1.9%. COMPANY NEWS: Shares of Cubist Pharmaceuticals (CBST) surged $26.24, or 35.29%, to $100.60 after Merck (MRK) agreed to acquire the maker of next-generation antibiotics for $102 per share in cash, or $8.4B and the assumption of $1.1B in debt. A number of other antibiotic makers also climbed, including Tetraphase (TTPH), which rose $2.45, or 8.82%, to $30.24, and Cempra (CEMP), which advanced $1.64, or 11.37%, to $16.06, while shares of Merck finished fractionally higher, adding 39c, or 0.63%, to $61.88 following the deal announcement. MAJOR MOVERS: Among the notable gainers following their presentations at the American Society of Hematology, or ASH, annual meeting were Calithera Biosciences (CALA), which gained $2.38, or 22.52%, to $12.95, and Acceleron Pharma (XLRN), which jumped $5.11, or 13.6%, to $42.67. Among the noteworthy losers was McDonald's (MCD), which fell $3.70, or 3.84%, to $92.61 after the Dow member reported a 2.2% decline in global same-restaurant sales in November. Additionally, the fast-food giant warned that its fourth quarter results would be hurt by its sales pressures, supplier issues in China and a stronger U.S. dollar. Also lower were shares of Liquidity Services (LQDT), which plunged $2.77, or 27.0%, to $7.49 after the company disclosed that Wal-Mart (WMT) had terminated a deal to provide it with surplus merchandise. INDEXES: The Dow fell 106.31, or 0.59%, to 17,852.48, the Nasdaq dropped 40.06, or 0.84%, to 4,740.69, and the S&P 500 slipped 15.06, or 0.73%, to 2,060.31.
16:00 EDTTSLAOptions Update; December 8, 2014
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13:21 EDTTSLATesla has an active bearish pattern, levels to watch
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12:40 EDTWMTOn The Fly: Midday Wrap
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11:22 EDTTSLATesla estimated to sell 1,200 Model S in U.S. in November, InsideEVs says
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10:49 EDTWMTLiquidity Services plunges after Wal-Mart seeks to end supply deal
Shares of Liquidity Services (LQDT) are tumbling after the company disclosed that Wal-Mart (WMT) had terminated a deal to provide it with merchandise. Liquidity Services operates an auction marketplace that features surplus and salvaged items. WHAT'S NEW: Liquidity Services reported after Friday's market close in a regulatory filing that Wal-Mart had decided to stop supplying products to Liquidity Services.The auction company noted that it had previously had the right to purchase certain consumer items that have been removed from Wal-Mart's shelves. However, Wal-Mart, on December 1, reported to the company that it would terminate the deal, effective today. Wal-Mart is alleging that Liquidity Services violated certain requirements of the agreement between the companies, Liquidity Services stated. However, the auction company disputed Wal-Mart's assertions and said it was "evaluating all its options" before determining how to proceed. Liquidity Services indicated that it still expects to meet its guidance for its December quarter results. ANALYST REACTION: In a note to investors today, Colin Sebastian, an analyst at research firm Robert W. Baird, predicted that the loss of the contract would have a significant impact on Liquidity Services' results starting in 2015. However, he believes that the extent of the impact on the company's earnings before interest taxes depreciation and amortization will depend on its ability to manage its expenses. The analyst cut his price target on the name to $9 from $12 and kept a Neutral rating on the shares. Meanwhile, Janney Capital analyst Shawn Milne wrote that Liquidity Services had previously disclosed that Wal-Mart accounted for 11% of its gross merchandise volume in fiscal 2014. Milne predicted that the termination of the deal would reduce Liquidity Services' annual EBITDA by less than $10M. He also kept a Neutral rating on the stock. PRICE ACTION: In early trading, Liquidity Services sank 25% to $7.70.
10:03 EDTWMTLiquidity Services price target lowered to $9 from $12 at RW Baird
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09:22 EDTTSLATesla weakness a buying opportunity, says RW Baird
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09:20 EDTWMTLiquidity Services estimate cuts possible on Wal-Mart fight, says Janney Capital
After Liquidity Services (LQDT) disclosed that Wal-Mart (WMT) terminated its return agreement and that the two are now in dispute over the deal, Janney Capital noted Liquidity 's recent 10K filing indicated that Wal-Mart accounted for 11% of FY14 gross merchandise volume, including Commercial Capital assets. Janney estimates the full year EBITDA impact from the contract to be somewhere below $10M, but said there is a potential for further estimate cuts given the dispute. The firm maintains its Neutral rating on Liquidity Services shares.
09:13 EDTWMTLiquidity Services reports Walmart terminates return agreement
Liquidity Services (LQDT) had previously acquired from ILJ Enterprises its business of purchasing closeouts, excess merchandise and customer returns for resale to retailers, wholesalers, and other third parties and consumers. In connection with the acquisition, the company, through one of its subsidiaries, assumed ILJ’s rights and obligations with Wal-Mart Stores (WMT). Under the Wal-Mart agreement, Liquidity Services has the exclusive right to purchase certain consumer products from Wal-Mart that have been removed from the sales stream of Wal-Mart’s retail operations. On December 1, Wal-Mart provided Liquidity Services written notice terminating the Wal-Mart Agreement, effective December 8. The termination notice alleges that the company failed to comply with certain provisions under the Wal-Mart agreement with respect to service level requirements and restrictions on the disposition of merchandise, Liquidity disclosed in a regulatory filing late Friday. The company disputes these allegations and is contesting the termination of the agreement with Wal-Mart. The company had been in negotiations with Wal-Mart to address Wal-Mart’s failure to honor the company’s exclusive right to purchase selected merchandise from Wal-Mart but was unable to reach a satisfactory resolution. The company is currently evaluating all of its options, reserves all rights with respect to this matter and will continue to seek appropriate relief from Wal-Mart for its failure to honor the company’s exclusive rights to purchase selected merchandise and any related actual damages the company has incurred. The company does not believe that the purported termination of the Wal-Mart Agreement will result in the company being unable to meet its financial guidance for its first fiscal quarter ending December 31, 2014, Liquidity Services stated.
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