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Stock Market & Financial Investment News

News Breaks
July 28, 2014
09:17 EDTFSLR, ACW, HZNP, XGTI, DG, WCG, CRNT, ACRX, TRLA, DLTR, SOHU, TSN, CVS, CACI, Z, FDOOn 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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August 27, 2015
12:41 EDTDGOn The Fly: Top stock stories at midday
Stocks began the session sharply higher, extending the rally that started yesterday. A number of factors may be contributors to today's strength, including China's government intervening in its market last night and pushing its key stock index up 5%, dovish comments made by N.Y. Fed President Bill Dudley yesterday regarding the potential for a September interest rate hike and an upward revision in the estimate of second quarter GDP growth. ECONOMIC EVENTS: In the U.S., the updated estimate of GDP growth showed the economy grew 3.7% in the second quarter, topping expectations for annualized growth to be revised up to 3.2% from the prior estimate of 2.3%. Personal consumption in the quarter rose 3.1%, matching expectations. 271,000 initial jobless claims were filed last week, versus expectations for 274,000 first-time claims. The NAR pending home sales index rose 0.5% in July, missing the expectation for an increase of 1%. In China, the Shanghai composite index rose 5.3%, stemming its recent string of down days, with media reports indicating that the government may have played a role by stepping in to buy stocks. COMPANY NEWS: Shares of St. Jude Medical (STJ) advanced 4.5% after the Financial Times reported, citing sources, that Abbott (ABT) is prepping a takeover offer that would value the medical device maker at $25B. An Abbott spokesperson, however, issued statements to Bloomberg, CNBC and the Wall Street Journal following the report to deny that it is pursuing a bid for St. Jude, which struck a deal in July to acquire fellow medical device manufacturer Thoratec (THOR) for $63.50 per share in cash, or $3.4B, net of cash acquired. Thoratec shares slid 0.5% near noon following the report, as investors may be concerned that the previously announced deal could be jeopardized if Abbott does in fact step in to the situation... Shares of Freeport-McMoRan (FCX) surged 28% this morning after the miner and oil explorer announced plans to cut spending and production, including plans to cut about 10% of employees and contractors at its U.S. mining operations. Freeport has lowered its 2016 capital expenditure budget to $4B, or approximately 29% lower than the $5.6B estimate it issued on July 23, which it said reflects "aggressive" actions in response to current market conditions. MAJOR MOVERS: Among the notable gainers was Movado (MOV), which gained 20% after the company reported better than expected second quarter results and backed its fiscal year earnings view. Also higher following its earnings report was Signet Jewelers (SIG), whose shares rose 13%. Another jeweler reporting earnings this morning, Tiffany (TIF), which slid 3% after the company lowered its fiscal year outlook. Among the other noteworthy losers following their earnings reports were Williams-Sonoma (WSM), which dropped 7%, and Dollar General (DG), which slipped 4%. INDEXES: Near midday, the Dow was up 311.33, or 1.91%, to 16,596.84, the Nasdaq was up 109.30, or 2.33%, to 4,806.83, and the S&P 500 was up 42.77, or 2.2%, to 1,983.28.
10:55 EDTDGDollar General 'bullish' about 2H15, holiday season
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10:22 EDTDGDollar General says affordability initiative 'front and center'
Says goal to reduce truck to shelf time. Sees further opportunity to better execute future growth initiatives. Says returned $265M to shareholders through repurchase and dividends. Says it has completed first of three phases of labor investment. Says implementations of phases two and three to accelerate in 2H15. Says "strong" results driven by incremental store investments. Says moving forward with inventory management initiatives. Says will capitalize on consumer insights in 2H15. Says broadening reach across categories with more "impactful" licensed products. Says focused on expanding merchandise leading up to holiday season. Says remains "optimistic" about new store outlook. Says has reduced capital investment for remodels. Says development pipeline is nearly 80% complete for 2015 store openings. Says repurchased over $3B of common stock since 2011. Says first priority is investing in new stores. Says roughly $489M of current repurchase authorization remains. Says new store prototype to roll out in 2016 with faster, more convenient checkout. Says "well-positioned" to succeed in hair care market. Comments taken from Q2 earnings conference call. In morning trading, shares in Dollar General were down 3.42% to $74.09.
10:00 EDTDGDollar General falls after earnings
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09:26 EDTDGOn The Fly: Pre-market Movers
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08:32 EDTCVSCVS Health enters into two new clinical affiliations
CVS Health has entered into new clinical affiliations with two health systems, St. Luke's University Health Network in Bethlehem, Pennsylvania and TriHealth in Cincinnati, Ohio. Through these clinical affiliations, CVS Health will provide prescription and visit information to the participating health care organizations.
07:22 EDTHZNPHorizon Pharma granted Notice of Allowance for Pennsaid by USPTO
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07:05 EDTDGDollar General sees FY15 EPS $3.85-$3.95, consensus $3.95
For the 2015 fiscal year, the Company is reconfirming its financial guidance provided on June 2, 2015. Total sales are expected to increase 8 to 9 percent over the 2014 fiscal year, with same-store sales expected to increase 3 to 3.5 percent. Operating profit for 2015 is expected to increase 7 to 9 percent over the 2014 adjusted operating profit. Diluted EPS for the fiscal year is expected to be approximately $3.85 to $3.95. Considering sales performance to date and the current operating environment, management expectations are that same-store sales likely will be closer to the low-end of the range. Capital expenditures are expected to be in the range of $500 million to $550 million in 2015. Dollar General plans to open approximately 730 new stores in 2015, or 6 percent square footage growth, and relocate or remodel 875 stores. To date, the Company is on track with its pipeline development to accelerate new store openings to 7 percent square footage growth in 2016.
07:04 EDTDGDollar General confirms FY15 financial outlook
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07:04 EDTDGDollar General reports Q2 EPS 95c, consensus 94c
Reports Q2 revenue $5.1B, consensus $5.14B. Reports Q2 SSS up 2.8%.
August 26, 2015
19:54 EDTTSNJudge overturns roughly $24M in damages against Tyson Foods, Reuters says
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15:00 EDTDGNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Dollar General (DG), consensus 94c... J. M. Smucker (SJM), consensus $1.23... Tiffany (TIF), consensus 91c... Signet Jewelers (SIG), consensus $1.15... Patterson (PDCO), consensus 54c... Michaels (MIK), consensus 16c... Burlington Stores (BURL), consensus 12c.
08:32 EDTCVSCVS Health to partner with telehealth providers to improve patient care
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August 25, 2015
16:01 EDTCVSTarget sees $550M pretax gain after closing CVS transaction
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11:41 EDTFSLRSolarCity rises again after Chairman Musk buys shares
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08:02 EDTCACICACI awarded $28M task order contract to support U.S. Army's RDECOM
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07:38 EDTDLTR, DGDollar Tree, Dollar General weakness a buying opportunity, says UBS
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August 24, 2015
16:46 EDTFSLRPresident Obama announces new renewable energy commitments
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15:29 EDTDGDollar General August weekly volatility elevated into Q2 and outlook
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11:09 EDTFSLRGoldman says SolarCity attractive after sharp pullback
SolarCity (SCTY) shares are climbing in the down market after Goldman Sachs contended in a note to investors today that the stock is attractive following its recent sharp retreat, The company probably won't be affected by issues that are causing investors to worry about the solar sector, the firm believes. WHAT'S NEW: Noting that SolarCity's stock had tumbled 27% in the last month before today's open, Goldman Sachs analyst Brian Lee wrote that the shares are being dragged down by worries about financing and cost of capital that are affecting the entire solar sector. However, he contended that these issues are having only a "limited" impact on SolarCity. On August 13, the company successfully sold asset-backed securities and it said that more such sales are likely to occur in the near-term, Lee noted. Meanwhile, SolarCity isn't being affected by the cost of capital increases that other solar companies are experiencing, the analyst reported. Before today's open, the stock was near a two year low, even though SolarCity's fundamentals are still "strong," Lee believes. Additionally, the largest U.S. solar trade show, which is expected to begin on September 14, could boost solar stocks, as it has historically been a catalyst for the sector, the analyst stated. SolarCity may provide guidance about the outlook for its Silevo solar panel manufacturing subsidiary in the second half of 2015, and the guidance could boost the stock, Lee believes. The risk/reward ratio of SolarCity's stock is positive, according to the analyst, who has a Conviction List Buy and $85 price target on the shares. OTHERS TO WATCH: Other publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunEdison (SUNE), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). PRICE ACTION: In late morning trading, SolarCity advanced 5.3% to $43.18.
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