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Stock Market & Financial Investment News

News Breaks
May 13, 2014
12:28 EDTGMCR, KO, RDEN, WHR, RAX, HALOOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday after a report showed that retail sales barely rose in April. The Nasdaq, which has been the market leader all year, was in negative territory near noon, while the Dow and S&P 500 were both slightly positive. ECONOMIC EVENTS: In the U.S., the NFIB small business optimism index rose to 95.2 in April, beating the consensus forecast for a 94.5 reading. Retail sales edged up 0.1% in April from the prior month, missing expectations for a 0.4% monthly increase. A measure of import prices fell 0.4% in April, compared to a forecast for a 0.3% increase. Export prices, which were also expected to fractionally increase, declined 1.0%. In China, retail sales increased 11.9% in April compared to the same month of last year, which was a bit below expectations. Industrial production growth in the month also slightly trailed the consensus forecast, rising 8.7%. In Europe, the Zew economic sentiment index for the euro area unexpectedly slipped to 55.2 in May from 61.2 in April. Also, a Wall Street Journal report indicated that the Bundesbank is ready to support a package of ECB easing measures in June to include a negative deposit rate and purchases of asset-backed securities. COMPANY NEWS: Keurig Green Mountain (GMCR) shares rose nearly 10% after Coca-Cola (KO) disclosed a deal to purchase additional shares, which increase Coke's stake in the K-cup coffee machine maker up to 16%. In February, Coca-Cola agreed to buy a 10% stake in Green Mountain for $1.25B, with an option to increase its stake in the future. MAJOR MOVERS: Among the notable gainers was Halozyme Therapeutics (HALO), which gained over 15% after reporting first quarter results and announcing that a committee supervising one of its previously halted clinical studies now supports continued enrollment of patients. Also higher was cloud company Rackspace (RAX), which advanced more than 7% after its first quarter results topped analysts' consensus estimates. Among the noteworthy losers was perfume and cosmetic maker Elizabeth Arden (RDEN), which plunged 20% after unexpectedly reporting a third quarter loss amid weaker than expected sales. Elizabeth Arden also confirmed that it has engaged Goldman Sachs (GS) to assist its board in looking into potential strategic alternatives, as had been reported by Reuters last month. Also lower were shares of appliance maker Whirlpool (WHR), which fell 3% after research firm Longbow downgraded the stock following its April retailer survey indicated a growth slowdown in both wholesale and sell-through volumes against the backdrop of a slowing U.S. housing sector. INDEXES: Near midday, the Dow was up 15.99, or 0.1%, to 16,711.46, the Nasdaq was down 11.17, or 0.27%, to 4,132.68, and the S&P 500 was up 0.66, or 0.03%, to 1,897.31.
News For GMCR;KO;RDEN;WHR;RAX;HALO From The Last 14 Days
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August 22, 2014
12:57 EDTGMCRKeurig Green Mountain surges after inking deal with Kraft
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12:20 EDTGMCROn The Fly: Midday Wrap
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10:55 EDTRAXRackspace rallies 3%, or 86c, to $34.24
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10:43 EDTGMCRKeurig Green Mountain volatility low, shares up on Kraft licensing agreement
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10:34 EDTRAXRackspace management to meet with JMP Securities
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09:01 EDTGMCRKeurig Green Mountain, Kraft Foods announce licensing agreement
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August 21, 2014
09:46 EDTRAXRackspace management to meet with JMP Securities
Group luncheon with management will be held in San Francisco on August 21 hosted by JMP Securities.
07:50 EDTWHRMajor appliance demand decelerating, says Longbowx
Longbow's North American industry checks indicate major applicance demand had declerated form June/July promotional peaks, indicating a rapid deceleration in the Core 6 category. The firm said the Core 6 categoreis are trending into negative territory following strong July 4th sales event volumes and is hearing laundry sales are particularly weak, and may be by as much as negative double digits. The analyst notes Whirlpool (WHR) is leveraged to laundry sales and, to a lesser extent, AB Electrolux (ELUX).
August 19, 2014
13:16 EDTRDENFollow-up: Elizabeth Arden downgraded at SunTrust
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13:01 EDTRDENElizabeth Arden downgraded to Neutral from Buy at SunTrust
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12:45 EDTRAXRackspace advances after Blue Harbour takes activist stake
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12:42 EDTRDENOn The Fly: Midday Wrap
The market opened higher as it extended its gains from yesterday. Better than expected economic data on housing and consumer prices, as well as easing geopolitical tensions, has helped aid investor optimism. The market drifted higher throughout the morning with the Dow leading the way, followed by the Nasdaq, which is now near fourteen-year highs. The S&P is mostly higher, with the telecom services group being the lone sector showing losses, down just fractionally. ECONOMIC EVENTS: Housing starts for July rose to an annualized pace of 1.093M units, up from 0.945M units in June, and beating expectations for 0.963M units... The Consumer Price Index increased 0.1% overall, matching expectations. Less food and energy, the CPI was up 0.1%, which was also in-line with the consensus forecast. COMPANY NEWS: Shares of home improvement retailer The Home Depot (HD) are up more than 6% after the company posted better than expected second quarter results and raised its full year profit outlook... Shares of Sprint (S) are down 4% after Jefferies lowered its price target for Sprint shares to $4, saying it continues to see downside to estimates. MAJOR MOVERS: Shares of Skilled Healthcare (SKH) are up more than 20% after combining with Genesis HealthCare In 100% stock deal... Shares of cosmetics and fragrance company Elizabeth Arden (RDEN) are down 24% after the company's fourth quarter results came in well below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 76.92, or 0.46%, to 16,915.66, the Nasdaq was up 12.96, or 0.29%, to 4,521.27, and the S&P 500 was up 8.49, or 0.43%, to 1,980.23.
12:21 EDTRAXRackspace rises on activist stakes, levels to watch
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10:39 EDTRDENElizabeth Arden tumbles 24% after Q4 earnings analysts' estimates
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09:07 EDTRDEN, RAXOn The Fly: Pre-market Movers
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09:01 EDTGMCRKeurig Green Mountain estimates raised at SunTrust
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08:35 EDTRAXRackspace may adopt more shareholder friendly structure, says Wells Fargo
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07:17 EDTRDENElizabeth Arden says Rhone entered into standstill agreement
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07:16 EDTRDENElizabeth Arden reports Q4 adj. EPS ($1.04), may not compare to consensus (34c)
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07:16 EDTRDENElizabeth Arden: 1Q15 will be challenged by factors affecting recent quarters
Fiscal 2015 will be focused on stabilizing the business and will be the first year of a multi-year plan to rebuild profitability. The Company expects a modest improvement in adjusted earnings for fiscal 2015 over the prior year with continued improvement in fiscal 2016. Specifically, for fiscal 2015, the Company currently expects the following: The first quarter of fiscal 2015 will continue to be challenged by the same factors that affected recent quarters; Net sales headwinds to continue for the first half of fiscal 2015, resulting primarily from a lower level of product innovation as compared to the first half of the prior fiscal year; Net sales increases in the second half of the fiscal year versus the prior year period as the year-over-year product launch comparisons moderate and the Company begins to realize the impact of improved pricing; Gross margin expansion due to improved pricing, better mix, lower discounts and realization of reduced supply chain and product costs; Lower overall selling, general and administrative expenses, with some reinvestment of 2014 Improvement Plan savings to drive future growth; Improved EBITDA margins from gross margin expansion and lower selling, general and administrative expenses; Stronger cash flow from operations as a result of higher earnings and lower investment in inventory.
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