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Stock Market & Financial Investment News

News Breaks
August 21, 2014
09:36 EDTVZ, GOGOGogo strength attributed to takeover speculation in blog post
The early move higher in shares of Gogo (GOGO) is being attributed to a blog post from Runway Girl Network. The post stated, "Wall Street is now buzzing that Verizon might be studying a potential joint venture, acquisition or partnership with Row 44 competitor, Gogo." Shares of Gogo are up 3% to $17.36 in pre-market trading. Reference Link
News For GOGO;VZ From The Last 14 Days
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September 3, 2015
16:27 EDTVZOn The Fly: Top stock stories for Thursday
Stocks on Wall Street began the session in positive territory thanks in part to dovish comments from the ECB. The averages were helped as well by the fact that the Chinese stock market, the source of so much volatility recently, was closed. The lack of distraction allowed buyers to be empowered and to extend the market's gains from yesterday. By noon, the averages had pared their gains, with the Nasdaq eventually crossing into negative territory. The average drifted near the flatline from there, as investors positioned ahead of tomorrow's jobs report. ECONOMIC EVENTS: In the U.S., initial jobless claims rose to 282,000 in the week ended August 29, versus expectations for 275,000 first-time claims. The trade balance report showed a deficit of $41.86B for July, versus expectations for a deficit of $42.2B. Markit's services PMI rose to 56.1 for the final August print, versus July's 55.7 and the 55.2 preliminary August reading. ISM's non-manufacturing index dipped to 59.0 in August, but that topped expectations for a reading of 58.2. In Europe, the European Central Bank left its benchmark interest rate unchanged, as expected, and economists at the bank trimmed their eurozone growth projections for this year and through 2017. ECB president Mario Draghi said the bank needs to determine if the recent global volatility is transitory before it decides "whether to do more or not," but also emphasized the bank's "willingness to act, its readiness to act and its ability to act." In Asia, Chinese markets were closed today and will be closed tomorrow for a holiday. COMPANY NEWS: Shares of Joy Global (JOY) plummeted $3.24, or 14.64%, to $18.89 following the company's report of lower than expected quarterly earnings and revenue. Joy's warnings about "one of the most challenging [end market environments] seen in decades" come as mining equipment makers like Caterpillar (CAT), Terex (TEX), and Joy grapple with low commodity prices leading to significantly reduced capital expenditures at mining firms. Shares of Dow member Caterpillar were the worst performer on the blue chip index, slipping 2.17% to $74.45 after Joy said ongoing challenges in commodity markets, along with slowing global economic growth, have "weighed on [its] customers' financial position and [its] incoming order rates." MAJOR MOVERS: Among the notable gainers was B&G Foods (BGS), which advanced $3.55, or 11.66%, to $34.00 after agreeing to purchase the Green Giant and Le Sueur vegetables brands from General Mills (GIS) for roughly $765M. Also higher was Pericom Semiconductor (PSEM), which gained $4.58, or 37.6%, to $16.76 after Diodes (DIOD) agreed to acquire the company for $17 per share. Shares of Diodes were also driven higher after the news, rising 11.8% to $21.89. Additionally, Methode Electronics (MEI) surged $5.43, or 19.82%, to $32.82 after releasing first quarter results and announcing a $100M share repurchase program. Among the noteworthy losers was World Acceptance (WRLD), which declined $2.21, or 5.95%, to $34.92 after Kase Capital's Whitney Tilson reiterated his belief that the stock is going to zero, as reported by ValueWalk. Also lower were Catalent (CTLT) and Five Below (FIVE), which dropped a respective 9.6% and 9.3% following their earnings reports. INDEXES: The Dow added 23.38, or 0.14%, to 16,374.76, the Nasdaq slid 16.48, or 0.35%, to 4,733.50, and the S&P 500 advanced 2.27, or 0.12%, to 1,951.13.
12:15 EDTVZVerizon raises quarterly dividend to 56.5c
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08:02 EDTVZAOL to acquire Millennial Media for $1.75 per share
AOL, a unit of Verizon (VZ), announced its continued investment in cross platform programmatic technology for marketers and publishers by signing an agreement to acquire Millennial Media (MM), an end-to-end mobile platform, for $1.75 per share of Millennial Media common stock. The transaction will take the form of a tender offer followed by a merger, with Millennial Media becoming a wholly owned subsidiary of AOL upon completion. The transaction is subject to customary regulatory approvals and other closing conditions, and is expected to close this fall. Goldman, Sachs & Co. served as AOL's financial advisor on the transaction, and Wachtell, Lipton, Rosen & Katz served as AOL's legal advisor. LUMA Partners served as Millennial Media's financial advisor on the transaction, and Goodwin Procter LLP served as Millennial Media's legal advisor.
08:02 EDTVZAOL to acquire Millennial Media for $1.75 per share
September 2, 2015
17:47 EDTVZFrontier acquisition of Verizon wireline operations approved by FCC
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10:22 EDTVZCiti says buy AT&T as DirecTV deal protects dividend
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September 1, 2015
18:24 EDTVZVerizon to begin pared-down video service in near future, Bloomberg says
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August 31, 2015
11:33 EDTVZAOL buys mobile social app maker Kanvas Labs, TechCrunch reports
AOL, which is owned by Verizon, has acquired Kanvas Labs, a photo and messaging startup, TechCrunch reports. A spokesperson for AOL says the company will continue to offer existing Kanvas Labs products, including the Kanvas photo editing app and Kanvas Keyboard, and there are plans to integrate Kanvas technology with AOL's products. Terms of the deal have not been disclosed. Reference Link
August 27, 2015
11:25 EDTVZSamsung Pay beta available on all U.S. carriers except Verizon, Verge reports
Samsung (SSNLF) Pay's beta is available on all major U.S. carriers, including AT&T (T), Sprint (S), T-Mobile (TMUS), and U.S. Cellular (USM), except for Verizon (VZ), the Verge reports. Verizon is "evaluating" Samsung Pay currently, and may very well miss the September 28th launch of the product, the report says. Reference Link
05:36 EDTVZVerizon FiOS reaches agreement with Entertainment Studios
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August 26, 2015
06:22 EDTVZGoogle fear Verizon, T-Mobile cell signs could crowd WiFi channels, WSJ says
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06:07 EDTVZVerizon confirms availability of hum to create connected driving experience
Verizon Telematics confirmed the commercial availability of hum, an aftermarket vehicle technology and subscription service that enables drivers on the road to make their car smarter through a simple solution regardless of their wireless service provider. First announced in January at the North American International Auto Show as Verizon Vehicle, hum provides subscribers with a self-installed solution that helps predict potential issues, prevents breakdowns and offers protection when problems do arise. At the simple press of a button, drivers receive diagnostic information, pinpoint roadside assistance and live consultation with ASE-certified mechanics and emergency personnel on-demand. Through GPS-based technology, hum helps accurately dispatch advanced roadside assistance, alerts emergency personnel of a car's location if a crash is detected, and assists authorities in locating a vehicle that has been reported stolen. Two year subscription plans start at $14.99 per month plus taxes, fees and equipment for the first vehicle with the option to add other vehicles for less.
06:02 EDTVZVerizon to announce Hum to connect older cars, The Verge reports
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August 25, 2015
05:59 EDTVZStocks with implied volatility movement; WMB VZ
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August 24, 2015
10:49 EDTGOGOGogo announces receipt of final clearance from FAA to launch 2Ku service
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August 23, 2015
19:13 EDTVZBT executive says Verizon, AT&T abusing landline duopoly, FT reports
In a Financial Times interview published Sunday, BT Group's (BT) Americas president Bas Burger said Verizon (VZ) and AT&T (T) are abusing their control over telephone and broadband lines to charge inappropriate access fees to companies like BT. "For a western world country it is the worst I've seen... There is not sufficient regulation to create competition: almost all access is being provided by two companies and they have divided the country among themselves," remarked Burger, adding that the two companies are also not required to fix network problems within any specific timeframe. Reference Link

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