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Stock Market & Financial Investment News

News Breaks
December 5, 2012
18:38 EDTALGN, VRA, AMBA, DCTH, DHIL, ASNA, ELX, MW, GRMN, FNSROn The Fly: After Hours Movers
UP AFTER EARNINGS: Finisar (FNSR), up 6%... Ascena Retail (ASNA), up 2%... Ambarella (AMBA), up 1.5%... ALSO HIGHER: Garmin (GRMN), up 4% after being added to S&P 500, effective December 11 close... Diamond Hill Investment Group (DHIL), up 5% after announcing $8 per share special dividend... DOWN AFTER EARNINGS: Vera Bradley (VRA), down 9%... Men's Warehouse (MW), down 8% after earnings and lowered guidance... ALSO LOWER: Delcath Systems (DCTH), down 11% after announcing a modified NDA with the FDA... Align Technology (ALGN), down 4% after saying it sees EPS, revenue at lower end of previous guidance... Emulex (ELX), down 3% after announcing acquisition, reaffirming previous guidance.
News For FNSR;ASNA;AMBA;GRMN;DHIL;VRA;MW;DCTH;ALGN;ELX From The Last 14 Days
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June 19, 2015
16:17 EDTFNSROn The Fly: Top stock stories for Friday
Stocks on Wall Street began the session in negative territory and remained there throughout the entire day. The economic calendar was quiet and the news flow was slow, leaving the averages to move in a narrow range until the final hour, when “quadruple witching” action kicked in and moved them a leg lower. The simultaneous expiration of futures and options can cause increased volatility, which occurred as the day’s volume was light. ECONOMIC EVENTS: In the U.S., Baker Hughes reported that the U.S. Rig Count declined 2 rigs from last week to 857. In Europe, the ECB agreed to raise the limit on Emergency Liquidity Assistance to Greek banks for the second time in a week, though there were contradictory reports about the size of the increase. Next, the eurozone's heads of government will meet for an emergency summit to discuss Greece on Monday. In Asia, China's Shanghai Composite index dropped 6.4%, bringing the benchmark's weekly loss to 13.3% and sending the index into correction territory. The Bank of Japan kept interest rates unchanged and maintained its asset purchases program, as expected. The BOJ also said it will reduce the number of policy meetings it holds each year to 8 from the current 14 meetings, putting it on par with other major central banks. COMPANY NEWS: Shares of ConAgra (CAG) advanced $4.31, or 11.02%, to $43.43 after activist investor Jana Partners reported that it has acquired a 7.2% stake in the packaged foods company. Jana suggested that the company should undertake a strategic review of its strategy and corporate structure to determine if its businesses are optimally positioned to succeed, as well as various potential alternative transactions and structures... Another food producer, Hershey (HSY), fell $3.38, or 3.66%, to $88.89 after lowering its outlook for this fiscal year. The chocolate maker said its North America confectionery business is on track to deliver on its 2015 financial objectives, but cited growth in China that was below expectations for its lowered outlook. Hershey also announced the implementation of a new productivity initiative that will result in the company cutting about 300 jobs by the end of this year. MAJOR MOVERS: Among the notable gainers following the activist involvement in ConAgra were a number of its peers, including Pinnacle Foods (PF), which rose 8.58% to $46.80, and Treehouse Foods (THS), which gained 4.86% to $75.55. Also higher was KB Home (KBH), which gained $1.41, or 9.43%, to $16.37 after the homebuilder reported better than expected results for its fiscal second quarter. Among the noteworthy losers was Healthways (HWAY), which sunk $3.13, or 20.15%, to $12.40 after the health management solutions provider lowered its revenue outlook for fiscal year 2015. Also lower were shares of Finisar (FNSR), which fell $2.27, or 10.25%, to $19.88 and were downgraded at Raymond James following the company's fourth quarter earnings report last night. INDEXES: The Dow dropped 101.56, or 0.56%, to 18,014.28, the Nasdaq fell 15.95, or 0.31%, to 5,117.00, and the S&P 500 lost 11.49, or 0.54%, to 2,109.75.
13:13 EDTAMBAAmbarella shares defended following Citron comments at Benchmark Co.
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12:49 EDTFNSROptical networking stocks slide after Finisar results
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11:43 EDTAMBAAmbarella puts active after mentioned cautiously by Citron Research
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11:33 EDTAMBAAmbarella mentioned cautiously by Citron Research
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10:00 EDTFNSROn The Fly: Analyst Downgrade Summary
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09:18 EDTFNSROn The Fly: Pre-market Movers
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09:14 EDTFNSRFinisar downgraded to Outperform at Raymond James
As previously reported, Raymond James downgraded Finisar to Outperform from Strong Buy and lowered its price target to $24 from $27. The firm is less positive regarding expense control and margins given increased competition among web scale customers.
06:54 EDTFNSRFinisar downgraded to Outperform from Strong Buy at Raymond James
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June 18, 2015
19:00 EDTFNSROn The Fly: After Hours Movers
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16:06 EDTFNSRFinisar sees Q1 non-GAAP EPS 23c-29c, consensus 27c
Sees Q1 revenue $308M-$328M, consensus $318.04M. Sees Q1 non-GAAP operating margin 30.5%.
16:04 EDTFNSRFinisar reports Q4 non-GAAP EPS 25c, consensus 25c
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15:27 EDTFNSRNotable companies reporting after market close
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10:03 EDTAMBAAmbarella volatility at low end of range as shares rally
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07:13 EDTALGNMorgan Stanley says to buy Align Technology on weakness
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07:01 EDTALGNAlign Technology selloff a buying opportunity, say William Blair
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05:41 EDTALGNSouthwest downgraded to Underweight from Overweight at Barclays
Barclays analyst David Fintzen downgraded Southwest (LUV) two notches to Underweight from Overweight saying the company has moved from a margin expansion story to an "average" big four airline trading at a premium valuation. Fintzen expects Southwest's growth to normalize in 2016 and cut his price target for shares to $39 from $50. The stock closed yesterday down 7c to $33.84. The analyst coupled the downgrade with an upgrade of Align Technology (ALGN) to Equal Weight. He remains bullish on airlines, with Spirit Airlines (SAVE) remaining his top pick, followed by Delta Air Lines (DAL), American Airlines (AAL) and United Continental (UAL). Fintzen sees 50% average upside in those four names.
June 17, 2015
16:52 EDTALGNAlign Technology provides statements regarding USPTO findings
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13:11 EDTALGNAlign Technology weakness on patent concerns overdone, says Goldman
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11:46 EDTALGNAlign drops after USPTO grants ClearCorrect request for patent review
ClearCorrect, a manufacturer of clear aligners, announced that the United States Patent and Trademark Office has granted its request for reexamination of three U.S. Patents assigned to Align Technology (ALGN). It stated in a press release, "ClearCorrect's evidence of unpatentability has been accepted by the USPTO across all challenged patents. A formal rejection of the claims of the '325 patent has been issued. Align must respond to this notice within two months' time if reversal of the USPTO's determination is to be pursued. The USPTO is set to issue formal rejections in the '487 and '880 patents in the weeks ahead based upon some of the same evidence." ClearCorrect has filed four reexamination requests concerning patents held by Align. Acceptance of the fourth request is expected in due course, the company stated. Shares of Align are down $4.19 to $60.10 following the news.
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