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Stock Market & Financial Investment News

News Breaks
July 28, 2014
09:17 EDTFDO, FSLR, ACW, HZNP, XGTI, DG, WCG, CRNT, ACRX, TRLA, DLTR, SOHU, TSN, CVS, CACI, ZOn The Fly: Pre-market Movers
HIGHER: Family Dollar (FDO), up 23% after Dollar Tree (DLTR) announced plans to acquire the company for $74.50 per share in cash and stock. Dollar Tree up 10% after the news, while competitor Dollar General (DG) is down 3.8% in pre-market trading after the deal... Trulia (TRLA), up 11.8% after Zillow (Z) announced plans to acquire the company for $3.5B in a stock-for-stock deal. Zillow is down 5% after confirming the deal that was first reported to be in the works late last week... xG Technology (XGTI), up 16.6% after awarded U.S. Army subcontract by CACI (CACI)... WellCare (WCG), up 2.6% after upgraded at Goldman and Sterne Agee... First Solar (FSLR), up 2.7% after establishing a supply agreement in Japan with XSOL. UP AFTER EARNINGS: Accuride (ACW), up 12.7%... Tyson Foods (TSN), up 4.4%. LOWER: AcelRx (ACRX), down 35% after downgraded at Canaccord following the FDA's request for additional data on the Zalviso system... Horizon Pharma (HZNP), down 26% after said it has been notified that Duexis, Vimovo to be placed on CVS (CVS) and Express Scripts' (ESRX) exclusion lists... DOWN AFTER EARNINGS: Sohu.com (SOHU), down 4.2%... Ceragon Networks (CRNT), down 8%.
News For FDO;DLTR;DG;Z;TRLA;XGTI;CACI;ACRX;HZNP;CVS;CRNT;ACW;TSN;WCG;FSLR;SOHU From The Last 14 Days
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July 24, 2015
11:01 EDTFSLRSolarCity rises after analyst says second half outlook strong
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10:58 EDTZZillow Group predicted to 'crack $40 within a year' by Citron Research
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08:34 EDTACRXAcelRx's Zalviso recommended for marketing authorization by Europe's CHMP
AcelRx Pharmaceuticals announced that the Committee for Medicinal Products for Human Use, or CHMP, of the European Medicines Agency, has adopted a positive opinion for Zalviso. The opinion, while not binding, recommends marketing authorization for Zalviso for the management of acute moderate-to-severe post-operative pain in adult patients. Zalviso is an investigational drug-device combination product designed to deliver a sublingual formulation of sufentanil 15 mcg via a proprietary pre-programmed, non-invasive, patient-controlled device. The positive opinion by the CHMP will next be reviewed by the European Commission for central marketing authorization in the European Union. If approved, Grunenthal expects to launch Zalviso beginning in 1H16. In addition, AcelRx would be eligible to receive a $15M milestone payment from AcelRx's licensee in Europe, Grunenthal, upon approval. AcelRx had previously received CE Mark approval of the Zalviso device and ISO certification of its quality management system issued by the British Standards Institution.
July 22, 2015
16:12 EDTZZillow Group to acquire DotLoop
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06:56 EDTCACIContractor mergers, sales fueled by government spending cuts, Reuters says
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July 21, 2015
16:13 EDTZZillow Group board approves creation of Class C shares
Zillow Group announced its board has unanimously approved a stock dividend of non-voting Class C capital stock. On August 14, all shareholders of record of Zillow Group's Class A and Class B common stock as of July 31, the record date of the dividend, will receive a dividend of two shares of Class C capital stock for each share of Class A and Class B common stock held by them as of the record date. The issuance of Class C capital stock is an extension of Zillow Group's dual-class structure, whereby Zillow Group's co-founders Rich Barton and Lloyd Frink hold Class B shares. "The Class C dividend enables the company to continue its focus on long-term growth and innovation, while maintaining the flexibility to issue additional stock for strategic business decisions and to retain and attract the best employees," it stated. Application to the Nasdaq has been made to list the Class C capital stock. Following the issuance date of the dividend, Zillow Group expects the Class C capital stock will trade under the ticker symbol "Z" and the Class A common stock will trade under the ticker symbol "ZG."
11:28 EDTHZNPDepomed says revised Horizon proposal includes no change to amount of stock
Depomed (DEPO) confirmed that it has received a "purported revised, highly conditional, unsolicited and non-binding" proposal from Horizon Pharma (HZNP) to acquire all of the outstanding shares of Depomed in an all-stock transaction currently valued at $33.00 per share. Depomed said its board, in consultation with its independent financial and legal advisors, will carefully review and evaluate the revised proposal to determine the course of action that it believes is in the best interests of the company and its shareholders. Depomed added: "Today's purported increase does not reflect any increase in the amount of Horizon stock that the Depomed shareholders would receive, nor any increase in the pro-forma ownership for the Depomed shareholders, and is the result of the trading value of Horizon's stock having increased since it made its initial offer." Depomed previously rejected the prior proposal, made May 27, to acquire all outstanding common shares of Depomed in an all-stock transaction then valued at $29.25 per share.
07:02 EDTHZNPHorizon Pharma increases offer for Depomed to $33.00 per share
Horizon Pharma (HZNP) announced that it has increased the value of its all-stock acquisition proposal to $33.00 per share from $29.25 per share, contingent on Depomed entering into good faith discussions regarding a transaction. The increased offer represents a 60% premium to the closing price of Depomed on July 6, the day prior to when Horizon's initial proposal was made public.
07:01 EDTHZNPHorizon Pharma increases offer for Depomed to $33.00 per share
July 20, 2015
10:43 EDTZZillow slides to 52-week low after Barclays cuts to sell
The shares of Zillow (Z) are falling after Barclays downgraded the stock to Underweight, the firm's equivalent of a "Sell" rating, citing increased competition in the "local" segment of the Internet market. Zillow's websites advertise homes that are up for sale. WHAT'S NEW: In a note to investors earlier today, Barclays analyst Christopher Merwin wrote that, heading into second quarter results, he does not recommend Internet stocks that have been "challenged" and have relatively "cheap" valuations. These valuations are only "cheap" based on consensus estimates that are probably too high, the analyst believes. Based on that criteria, he downgraded Zillow to Underweight from Equal Weight. He also used the same criteria to downgrade Yelp (YELP), whose website features user reviews of local businesses, to Equal Weight from Overweight. Both companies are facing an "atypical level" of competition, driven by a favorable venture capital funding environment, Merwin indicated. The competition has driven down the companies' multiples, he believes. WHAT'S NOTABLE: Merwin recommended that investors buy the shares of small and mid cap Internet companies whose estimates are just beginning to be revised upwards by analysts. He identified IAC (IACI), which owns several dating websites, as one stock in this category. IAC should benefit from increased monetization of its popular Tinder dating app and the stabilization of its core dating websites, the analyst contended. Also poised for further positive estimate revisions are video game makers Electronic Arts (EA) and Activision Blizzard (ATVI), Merwin believes. The companies' increased revenue from digital games should mitigate the risk they face from slowing software growth as sales of new consoles slow, the analyst believes. He noted that 50% of both companies' revenue are now generated from digital games and identified Electronic Arts and Activision Blizzard as two of his top ideas. PRICE ACTION: In morning trading, Zillow fell 5% to $79 after hitting a 52-week low of $76.82 earlier in the session. Meanwhile, Yelp slid 1.6% to $34.40, IAC fell fractionally to $83.83, Electronic Arts added about 1% to $74.15 and activision Blizzard rose 0.5% to $25.93.
10:33 EDTHZNPDepomed suitor Horizon Pharma advances after raising outlook
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10:00 EDTZOn The Fly: Analyst Downgrade Summary
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09:50 EDTHZNPHorizon Pharma CEO says 'here to stick it out' regarding Depomed deal
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09:50 EDTHZNPHorizon Pharma CEO says Depomed proposal 'shareholder friendly'
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09:22 EDTHZNPOn The Fly: Pre-market Movers
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07:16 EDTHZNPHorizon Pharma up 5.2% after reporting preliminary Q2 revenue, raises FY15 view
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07:05 EDTHZNPHorizon Pharma raises FY15 revenue guidance to $660M-$680M from $590M-$610M
Consensus $611.6M. Raises FY15 adjusted EBITDA guidance to $265M-$280M from $235M-$250M.
07:04 EDTHZNPHorizon Pharma sees Q2 revenue $170M-$172M, consensus $138.26M
06:04 EDTXGTIxG Technology's 1-for-10 reverse split became effective
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05:44 EDTZZillow Group downgraded to Underweight from Equal Weight at Barclays
Barclays analyst Christopher Merwin downgraded Zillow Group (Z) to Underweight saying competition is increasing in local. Underweight is Barclays' equivalent to a sell rating. The real estate and rental marketplace owner closed Friday at $83.27. Merwin believes consensus growth estimates are likely too high heading into Zillow's Q2 results and cut his price target for the stock to $70 from $90. The analyst this morning also downgraded Yelp (YELP) to Equal Weight for similar reasons. His top U.S. Internet picks heading into Q2 earnings season are IAC (IACI), Activision Blizzard (ATVI) and Electronic Arts (EA). Merwin thinks Activision and Electronic Arts will receive more than half of their 2015 revenue from digital.
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