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Stock Market & Financial Investment News

News Breaks
August 7, 2014
12:14 EDTHAR, XONE, PCLN, THOR, DDD, CTRP, SNI, MTLS, SSYS, FOXAOn The Fly: Midday Wrap
Stocks on Wall Street began the session higher, thanks in part to better than expected initial jobless claims data and an agreement to extend the ceasefire between Israel and Gaza. The averages saw their highs a short time after the open, but then began to drift lower. By mid-morning the Dow had crossed into negative ground and the S&P and Nasdaq soon followed, leaving the major indexes all in the red, but not by much, near noon. ECONOMIC EVENTS: In the U.S., initial jobless claims dropped 14K to 289K in the week ended August 2, versus expectations for 300K new claims. A report on consumer credit growth in June is expected at 3:00 pm ET. COMPANY NEWS: Shares of several 3D printer makers climbed after one of the companies in the sector, Stratasys (SSYS), reported stronger than expected second quarter results and raised its guidance. Near noon, Stratsys surged 19%, while 3D Systems rose 3%, Materialise (MTLS) advanced 6% and ExOne (XONE) gained more than 7%. MAJOR MOVERS: Among the notable gainers was Chinese online travel agency Ctrip.com (CTRP), which gained 10% after the company expanded its partnership with Priceline (PCLN) and received a $500M investment from the U.S. online travel giant. Also higher was 21st Century Fox (FOXA), which rose 6.5% after the company reported higher than expected fourth quarter earnings and the stock was upgraded to Market Perform from Underperform at Cowen. Among the noteworthy losers was Thoratec (THOR), which plunged 29% and was downgraded at Goldman, Credit Suisse and BTIG after reporting lower than expected second quarter revenues and lowering its FY14 profit guidance. Also lower following their earnings reports were Harman (HAR), which fell over 4%, and Scripps Networks (SNI), which dropped nearly 5%. INDEXES: Near midday, the Dow was down 37.98, or 0.23%, to 16,405.36, the Nasdaq was down 2.92, or 0.07%, to 4,352.13, and the S&P 500 was down 4.35, or 0.23%, to 1,915.89.
News For FOXA;CTRP;PCLN;SSYS;DDD;XONE;MTLS;THOR;HAR;SNI From The Last 14 Days
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July 21, 2015
12:40 EDTTHORSt. Jude in talks to acquire Thoratec, Bloomberg reports
St. Jude Medical (STJ) is in talks to acquire Thoratec (THOR), Bloomberg reports, citing people familiar with the situation. Talks are ongoing and could still fall apart as no deal has been reached, Bloomberg adds. Thoratec shares spiked early in today's session, but a catalyst for the move was unclear before the Bloomberg report. Shares of the medical device maker focused on advanced heart failure patients are up $9.52 to $58.33 in midday trading. Its close competitor HeartWare (HTWR) is now up $5.53 to $84.70. Shares of St. Jude are up 4 to $76.61. Reference Link
12:33 EDTTHORThoratec jumps after Bloomberg report of St. Jude buyout talks
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12:29 EDTTHORSt. Jude Medical in talks to acquire Thoratec, Bloomberg reports
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12:21 EDTTHOROn The Fly: Top stock stories at midday
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11:05 EDTHARAfter Jeep hacked, analyst predicts cybersecurity boosts for Harman, Delphi
After Jeep hacked, analyst predicts cybersecurity boosts for Harman, Delphi The shares of Harman (HAR) and Delphi Automotive (DLPH) are rising after Wells Fargo predicted that the companies would benefit from the increasing need to protect cars from cybersecurity attacks after Wired reported on hackers discovering methods that can be used to take control of vehicles. BACKGROUND: Two computer hacking researchers showed that they could seize control of a Jeep Cherokee, made by Fiat Chrysler (FCAU), using a technique called a zero-day exploit, Wired reported today. Using the same technique, the hackers can control "any of thousands of vehicles," the website reported. In the past, they have demonstrated how they were able to take control of a Ford (F) Escape and Toyota (TM) Prius, according to Wired. The hackers' technique involves taking control of vehicles' entertainment systems and sending commands to the vehicles' dashboard functions, steering, brakes, and transmission through their those systems, the website stated. ANALYST REACTION: In a note to investors today, Wells Fargo analyst David Lim responded to Wired's article by saying that cybersecurity has become a significant concern for automakers. Automotive technology suppliers such as Harman (HAR) and Delphi (DLPH) should benefit from auto makers' efforts to protect their vehicles from cyberattacks, Kwas believes. He reiterated Outperform ratings on Harman and Delphi. PRICE ACTION: In morning trading, Harman climbed about 2% to $108 and Delphi rose fractionally to $78.15. This version of the story replaces an earlier one to correct the lead analyst to David Lim.
10:20 EDTTHORCatalyst behind Thoratec spike higher unclear
The catalyst behind the spike higher in shares of Thoratec (THOR) is unclear to traders and investors. The medical device maker focused on advanced heart failure patients rose as high $62.05 in early trading and its shares remain up 11%, or $5.48, to $54.29. Some vague takeover chatter surfaced, with St. Jude Medical (STJ) as the speculated buyer, but buyout rumors are often the "go-to" reason when stocks spike. Often the moves on rumors are less substantial than Thoratec's spike today. The company's close competitor HeartWare (HTWR) is not seeing any unusual trading thus far today, falling 36c to $78.81 in early trading.
10:14 EDTTHORHigh option volume stocks:
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10:12 EDTTHORThoratec calls active on sharp rally
Thoratec August 55 and 65 calls are active on 260 contracts (50 puts). August call option implied volatility is at 55, September is at 50; compared to its 52-week range of 24 to 51. Active calls suggests traders taking positions for price movement.
09:58 EDTTHORThoratec jumps 14% to $55.82 in early trading
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09:41 EDTHARHarman, Delphi to benefit from car security concerns, says Wells Fargo
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08:29 EDTPCLNPriceline price target raised to $1,435 from $1,380 at Oppenheimer
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07:33 EDTHARHarman names Phillip Eyler as president of Infotainment unit
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July 20, 2015
10:00 EDTFOXAOn The Fly: Analyst Downgrade Summary
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06:25 EDTFOXA21st Century Fox downgraded to Neutral from Outperform at Macquarie
Macquarie downgraded 21st Century Fox to Neutral and lowered its price target to $34 from $40. The firm sees uncertainty around FY16 earnings given increasing programming costs, further investments, and potential acquisitions, and has a mixed views on the company's OTT streaming position.
July 17, 2015
16:46 EDTCTRPViking Global Investors reports 5.2% passive stake in Ctrip.com
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12:05 EDTPCLNEtsy surges after Google says 'deep links' driving traffic boost
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06:13 EDTFOXAHulu considering ad-free option, WSJ reports
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July 16, 2015
11:27 EDTDDD, SSYSPiper ups Voxeljet despite caution after 3D printing survey
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06:18 EDTSSYS, DDD, MTLSPiper's 3D printing survey 'discouraging again'
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05:36 EDTSSYS, DDDvoxeljet upgraded to Overweight from Neutral at Piper Jaffray
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