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Stock Market & Financial Investment News

News Breaks
February 1, 2013
11:42 EDTRAD, FHN, GDOT, SONS, WPXHigh option volume stocks: FHN WPX GDOT RAD SONS
News For FHN;WPX;GDOT;RAD;SONS From The Last 14 Days
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July 27, 2015
06:04 EDTRADRite Aid implied volatility of 33 at lower end of index mean range
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July 24, 2015
06:11 EDTRADRite Aid implied volatility of 33 at lower end of index mean range
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July 21, 2015
16:17 EDTFHNFirst Horizon expands share repurchase program
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July 20, 2015
10:00 EDTFHNOn The Fly: Analyst Downgrade Summary
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07:43 EDTFHNFirst Horizon downgraded to Equal Weight at Stephens
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07:36 EDTFHNFirst Horizon downgraded to Equal Weight from Overweight at Stephens
July 17, 2015
10:03 EDTWPXHigh option volume stocks
High option volume stocks: EWC DF WPX CLSN TE CMA SWI CE VRSN USG
07:05 EDTFHNFirst Horizon reports Q2 EPS 22c, consensus 20c
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06:31 EDTWPXWPX Energy 30M share Secondary priced at $10.10
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06:03 EDTRADRite Aid implied volatility of 32 at lower end of index mean range
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July 16, 2015
15:02 EDTFHNNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include General Electric (GE), consensus 28c... Honeywell (HON), consensus $1.49... Synchrony Financial (SYF), consensus 62c... SunTrust Banks (STI), consensus 81c... Progressive (PGR), consensus 55c... W.W. Grainger (GWW), consensus $3.05... Kansas City Southern (KSU), consensus $1.02... JB Hunt Transport (JBHT), consensus 90c... Autoliv (ALV), consensus $1.55... Comerica (CMA), consensus 75c... First Horizon (FHN), consensus 20c.
05:54 EDTRADRite Aid implied volatility of 33 at lower end of index mean range
July 14, 2015
16:24 EDTWPXOn The Fly: Top stock stories for Tuesday
Stocks on Wall Street opened in relatively quiet fashion following the market's last three days of gains. With headwinds such as the Greek debt crisis and the Iran nuclear deal out of the way for the time being, investors are able to turn their attention more fully to the earnings season. Reports from JPMorgan (JPM), Wells Fargo (WFC) and Johnson & Johnson (JNJ) were mostly in-line with expectations, if not better than hoped, in several dimensions. The averages began to drift higher, with the Dow surpassing the 18,000 level again and the Nasdaq rising back above 5,100. ECONOMIC EVENTS: In the U.S., retail sales unexpectedly fell 0.3% in June, versus the consensus forecast for growth of 0.3%. If autos and gas are removed from the data, the core reading slipped 0.2%, versus expectations for it to be up 0.4%. The import price index fell 0.1% last month, versus expectations for it to be up 0.1%. Business inventories grew 0.3% in May, matching the consensus expectation. In Europe, BOE Governor Mark Carney told U.K. officials that “the point at which interest rates may begin to rise is moving closer.” Additionally, Iran reached a deal on restrictions and inspections intended to prevent it from developing nuclear weapons in exchange for the lifting of economic sanctions by six world powers. The agreement still faces a political fight in the U.S. before taking effect, but President Barack Obama has vowed to veto any congressional effort to block its implementation. COMPANY NEWS: Shares of Twitter (TWTR) spiked as high as $38.82 late this morning after a questionable takeover report was published on a website that mimicked, but had a different web address, than Bloomberg News. A Bloomberg spokesman said soon afterward that the Twitter takeover story being attributed to the news service was a fake, while a Twitter spokesperson also denied the report of an alleged deal. Twitter, which has been the frequent subject of takeover speculation, closed up 93c, or 2.6%, at $36.71. The Securities and Exchange Commission will need to add this latest apparent hoax to the list of others it is investigating, including a filing made two months ago by "PTG Capital Partners" purporting to outline its offer to acquire Avon Products (AVP)... JPMorgan (JPM) reported quarterly earnings before the open, beating on both the top and bottom line. Banking peer Wells Fargo (WFC) also reported its results this morning, with earnings in-line with consensus estimates and revenue somewhat below expectations. Shares of both banks rose about 1% following their reports. Dow member Johnson & Johnson (JNJ) slipped about 0.5% to $99.78 despite reporting better than expected earnings, posting revenue that was in-line with expectations and raising its fiscal year adjusted profit forecast. MAJOR MOVERS: Among the notable gainers was Micron (MU), which rose $2.00, or 11.36%, to $19.61 following a Wall Street Journal report last night that claims China's Tsinghua offered to acquire the company for $23B, or $21 per share. Also higher were shares of WPX Energy (WPX), which advanced 71c, or 6.38%, to $11.83 after announcing an agreement to buy RKI Exploration & Production for $2.35B plus the assumption of $400M in debt. Among the noteworthy losers was Vince Holding (VNCE), which fell $2.24, or 18.73%, to $9.72 after announcing last night that its CEO Jill Granoff has resigned. In the wake of that news, William Blair downgraded the stock today to Market Perform from Outperform. Also lower was Spirit Airlines (SAVE), which dropped $4.73, or 7.44%, to $58.81 after cutting both quarterly and yearly guidance last night, which was followed by a downgrade of the stock at Citi this morning. INDEXES: The Dow advanced 75.90, or 0.42%, to 18,053.58, the Nasdaq rose 33.38, or 0.66%, to 5,104.89, and the S&P 500 gained 9.35, or 0.45%, to 2,108.95.
08:31 EDTGDOTGreen Dot announces opening of wholly-owned subsidiary in Shanghai, China
Green Dot Corporation announced the official opening of Green Dot Shanghai Software Technology Co. Ltd. “Green Dot Shanghai” is a new wholly-owned subsidiary of Green Dot Corporation that is located in the Zhangjiang Hi Technology Park in the Pudong district of Shanghai.
07:02 EDTWPXWPX Energy to host conference call
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06:03 EDTWPXWPX Energy agrees to acquire RKI Exploration & Production
WPX Energy announced a definitive merger agreement to acquire privately held RKI Exploration & Production, LLC for $2.35B plus the assumption of $400M of debt. The majority of RKI’s leasehold is located in Loving County, Texas, and Eddy County, N.M., where the company has four rigs deployed. RKI’s liquids-rich assets in the Permian Basin include: Approximately 22,000 boe/d of existing production – more than half of which is oil; Approximately 92,000 net acres in the core of the Permian’s Delaware Basin – approximately 98% of which is held by production; More than 3,600 gross risked drilling locations across stacked pay intervals; More than 375 miles of scalable gas gathering and water infrastructure The acquisition metrics include approximately $1.1B for the existing production at $50,000 per flowing barrel, approximately $500M for the established midstream infrastructure, which equates to an average of $12,500 per acre – or $1.15B – for the undeveloped locations. RKI also has operations in Wyoming’s Powder River Basin. Those assets are not included in WPX’s purchase. RKI will divest or transfer out its Powder River Basin assets before completing the merger with WPX. WPX also expects to grow cash flow approximately 25 percent from roughly $3.75 per share on a standalone basis in 2015 to more than $4.60 per share on a pro forma basis in 2017. Giving effect to the transaction, WPX projects EBITDAX to grow to $1.5-$1.7 billion in 2017 on a pro forma basis. EBITDAX represents earnings before interest expense, income taxes, depreciation, depletion and amortization and exploration expenses. WPX plans to retain RKI staff upon closing, as well as its offices in Oklahoma City, Okla., and Carlsbad, N.M. WPX’s corporate headquarters will remain in Tulsa, Okla. ANSACTION TERMS AND FINANCING RKI unit holders will receive 40 million shares of WPX stock, valued at approximately $470 million based on the terms of the agreement. WPX intends to fund the balance of the acquisition through a combination of long-term debt, additional equity and cash on hand. WPX has obtained committed financing from Barclays in connection with the transaction. WPX also will amend its existing unsecured credit facility. WPX is targeting a net debt/EBITDAX ratio of 2x by year-end 2017 through underlying cash flow growth projections and portfolio rationalization opportunities. This could include the monetization of midstream infrastructure, non-operated properties or other asset sales, along with evaluating creative options to unlock Piceance Basin value.
06:01 EDTWPXWPX Energy agrees to acquire RKI Exploration & Production
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July 13, 2015
12:54 EDTRADOptions with increasing volume;
Options with increasing volume; HIG ADTN RAD CHKP ADKS PZZA TAP KSU A

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