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Stock Market & Financial Investment News

News Breaks
March 7, 2014
09:16 EDTNVTL, VMEM, ALSK, FEYE, NLNK, GTAT, FRM, SWY, BIG, DLIA, SKUL, FLOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Foot Locker (FL), up 5.5%... Skullcandy (SKUL), up 25%... Big Lots (BIG), up 16%... Alaska Communications (ALSK), up 11%...ALSO HIGHER: dELiA's (DLIA), up 11% after Tiger Global Management reports 6.3% passive stake in the company... GT Advanced (GTAT), up 7% following upgrade at Credit Suisse. DOWN AFTER EARNINGS: Furmanite (FRM), down 3.8%... Novatel Wireless (NVTL), down 23%... Peregrine Pharmaceuticals (PPHM), down 10%. ALSO LOWER: NewLink (NLNK), down 9.7% after saying will continue IMPRESS Phase 3 study of algenpantucel-L... Violin Memory (VMEM), down 12.4% after earnings, downgrade at BofA/Merrill... FireEye (FEYE), down 6.6% after 14M share secondary offering of stock priced at $82.00... Safeway (SWY), down 3% after announcing a deal to be acquired by Albertsons for about an estimated $40 per share in a merger that had been reported on extensively.
News For FL;SKUL;DLIA;BIG;SWY;FRM;GTAT;NLNK;FEYE;ALSK;VMEM;NVTL From The Last 14 Days
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October 6, 2014
16:06 EDTVMEMViolin Memory files to sell $15M in convertible senior notes due 2015
14:12 EDTGTATUltra Clean shares oversold on GT Advanced news, says Needham
Needham said Ultra Clean (UCTT) shares are oversold on the GT Advanced (GTAT) bankruptcy and said they are a small customer. The firm did reduce Ultra Clean 2014 revenue estimate to $512M from $520M and its price target to $13 from $14 due to the GT Advanced revenue reduction and lower SemiCap sales but reiterates its Buy rating.
14:01 EDTGTATGT Advanced bankruptcy implies breakdown with Apple, says Raymond James
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13:53 EDTNLNKNewLink Genetics volatility elevated at 132
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12:41 EDTGTATOn The Fly: Midday Wrap
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12:22 EDTFEYEFireEye risk/reward compelling, says UBS
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11:56 EDTFEYEFireEye fundamentals solid, expect Q3 beat, says UBS
UBS believes FireEye's valuation is compelling and views concerns as overblown. The analyst believes FireEye is poised for an increase in business activity and checks indicate a few multimillion dollar new and repeat orders. UBS expects strong 2H results and reiterates its Buy rating and $40 price target.
11:56 EDTFEYEStocks with call strike movement; FEYE MBLY
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11:53 EDTGTATGT issues company specific, solar sell-off unwarranted, says Northland
Northland said it believes GT Advanced's (GTAT) bankruptcy filing is company specific and related to its non-solar opportunities and that the sell-off in other solar industry stocks after this news is unwarranted. Publicly traded companies in the solar space include Canadian Solar (CSIQ), First Solar (FSLR), JA Solar (JASO), SunPower (SPWR), Trina Solar (TSL) and Yingli Green Energy (YGE). The firm also confirmed that GT is a customer of Ultra Clean (UCTT) and that some of its growth potential with the GT may be muted near-term, but points out that the company required a full prepayment for its prior work with GT.
11:41 EDTGTATSolar companies sink after GT Advanced declares bankruptcy
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11:15 EDTFEYEFireEye volatility increases as shares pullback
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11:10 EDTFEYEFireEye trades lower, levels to watch
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10:50 EDTGTATGT Advanced plunges 90% to $1.06 after filing for bankruptcy
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10:41 EDTGTATUltra Clean drops after GT Advanced files for bankruptcy
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10:32 EDTGTATGT Advanced to resume trading at 10:45 am ET
GT Advanced Technologies announced earlier that it had commenced voluntary cases under chapter 11 of the Bankruptcy Code. Quotation on the stock is scheduled to resume at 10:40 am ET and trading is scheduled to resume at 10:45 am ET.
10:17 EDTGTATGT Advanced volatility expected to move, files for Chapter 11 bankruptcy
GT Advanced volatility is expected to move on files for Chapter 11 bankruptcy. Overall option implied volatility of 105 is above its 26-week average of 75 according to Track Data, suggesting wide price movement.
10:11 EDTGTATGT Advanced files for Chapter 11 bankruptcy
GT Advanced Technologies announced that it had, together with certain of its direct and indirect subsidiaries, commenced voluntary cases under chapter 11 of the Bankruptcy Code in the United States Bankruptcy Court for the District of New Hampshire. GT expects the court will authorize the company to continue to conduct business as usual while it devotes renewed efforts to resolve its current issues and develops a reorganization plan. GT indicated that as of September 29 it had approximately $85M of cash. It is now seeking debtor-in-possession financing. GT said, "These funding sources will enable GT to satisfy the customary obligations associated with the daily operation of its business, including the timely payment of employee wages and other obligations." NASDAQ may temporarily halt trading in the company's stock pending the receipt of additional information on the company's financial condition, it stated.
10:02 EDTNVTLKajeet collaborates with Novatel Wireless
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09:40 EDTGTATGT Advanced trading halted, pending news
06:27 EDTFEYEJPMorgan hackers hit about nine other firms, NY Times says
The group of hackers that infiltrated JPMorgan (JPM) also penetrated about nine other financial institutions, according to The New York Times. Washington intelligence officials and policy makers are much more concerned about the attacks than they have disclosed, the newspaper added. Other publicly traded large banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Publicly traded cybersecurity companies include Barracuda Networks (CUDA), Check Point (CHKP), F5 Networks (FFIV), FireEye (FEYE), Fortinet (FTNT), Imperva (IMPV), Palo Alto (PANW), Proofpoint (PFPT), Qualys (QLYS) and Symantec (SYMC).Reference Link
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