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Stock Market & Financial Investment News

News Breaks
June 2, 2014
18:48 EDTGWRE, LMT, ZQK, KKD, NPSP, SHPGOn The Fly: After Hours Movers
UP AFTER EARNINGS: Guidewire (GWRE), up over 1% after reporting better than expected Q3 results and giving guidance on its conference call. ALSO HIGHER: Lockheed Martin (LMT), up fractionally after being awarded a $914.7M Space Fence contract. DOWN AFTER EARNINGS: Quiksilver (ZQK), down 30%... Krispy Kreme Doughnuts (KKD), down 10.5%. ALSO LOWER: NPS Pharmaceuticals (NPSP), down almost 1% after disclosing in a filing that it has not had any communication with Shire (SHPG) concerning a purported acquisition offer.
News For GWRE;LMT;ZQK;KKD;NPSP;SHPG From The Last 14 Days
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July 13, 2014
17:10 EDTSHPGShire said to seek bid of near 53 pounds per share from AbbVie, Reuters says
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16:40 EDTLMTDefense officials see no systematic flaws in Lockheed F-35, Bloomberg says
U.S defense officials see no broad safety issues with Lockheed Martin's F-35 Joint Strike Fighter after an engine fire resulted in the grounding of the fleet, says Bloomberg. Reference Link
July 11, 2014
16:46 EDTSHPGStocks end week lower on European, Fed concerns
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14:13 EDTSHPGShire, AbbVie didn't commit to further talks, Dow reports
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13:58 EDTSHPGShire confirms meeting with AbbVie representatives
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11:54 EDTSHPGAbbVie, Shire in active takeover talks, Bloomberg reports
AbbVie (ABBV) and Shire (SHPG) are in active talks about a potential merger after AbbVie raised its takeover offer for a fourth time, Bloomberg reports, citing people with knowledge of the matter. The talks are in the early stage and may not lead to an agreement, sources told Bloomberg. Shares of Shire are up 5%, or $12.04, to $250.65 following the report.
11:34 EDTSHPGShire jumps 5% after Bloomberg report on talks with AbbVie
11:33 EDTSHPGShire, AbbVie held talks after latest raised takeover offer, Bloomberg says
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07:28 EDTNPSPNPS Pharmaceuticals attractive ahead of launch updates, says Leerink
Leerink calls shares of NPS Pharmaceuticals "very attractive" ahead of the Gattex launch updates on the company's Q2 and Q3 earnings conference calls. Leerink says its survey of 34 gastroenterologists who treat 739 short bowel syndrome patients indicated continued robust increases in Gattex uptake during the second half of 2014 and through 2016. It reiterates an Outperform rating on NPS with a $40 price target.
July 10, 2014
13:58 EDTLMTPentagon says F-35 fire may have been isolated incident, The Hill says
A fire on an F-35 Joint Strike Fighter plane may have been an isolated incident, and not indicative of a systemic problem, the Pentagon’s chief weapons buyer told lawmakers today, according to The Hill. The Pentagon has grounded the planes, which are made by Lockheed Martin (LMT) and United Technologies (UTX). Reference Link
09:40 EDTSHPGAbbVie, Shire not holding talks at this point as deadline approaches, CNBC says
AbbVie (ABBV) and Shire (SHPG) are not holding talks at this point, according to CNBC's David Faber, citing sources. Shire confirmed two days ago that it has received AbbVie's latest, raised takeover offer and that its board will meet to consider the proposal.
08:12 EDTLMTPratt & Whitney, U.S. government close to $2B engine deal, WSJ reports
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07:54 EDTZQKQuiksilver announces additional licensing agreements
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July 9, 2014
18:31 EDTSHPGShareholders urge Allergan to make large acquisition, FT reports
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18:21 EDTSHPGAllergan CEO seeks sizeable acquisitions, WSJ reports
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11:16 EDTLMTAeroVironment rallies after better than expected results
Shares of AeroVironment (AVAV), which develops a portfolio of products and services for unmanned aircraft and efficient energy systems, are rallying after the company reported better than expected fourth quarter results. WHAT'S NEW: Last night, AeroVironment reported Q4 EPS of 35c and revenue of $73.5M, compared to analysts' consensus estimates of 22c and $69.62M, respectively. WHAT'S NOTABLE: The company forecast fiscal 2015 revenue of $250M-$270M, compared to consensus of $256.2M, along with gross profit margins of 34.5%-37.5%. The company noted that planned increases in research and development and business development investments for Tactical Missile Systems, Commercial UAS and Global Observer business areas in FY15 may largely offset operating profit in the current fiscal year. PRICE ACTION: In morning trading, AeroVironment soared $4.49, or 14.5%, to $35.45 on nearly five times its average daily trading volume. Including today's advance, the stock is up more than 70% over the past 12 months. OTHERS TO WATCH: Other companies in the unmanned aircraft space include Lockheed Martin (LMT), General Dynamics (GD), and Northrop Grumman (NOC), though all of those are significantly larger than AeroVironment.
08:19 EDTSHPGAbbVie offer may not bring Shire to negotiating table, says BMO Capital
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07:38 EDTSHPGShire still has leverage, can get one more raise from AbbVie, Reuters contends
The selloff in shares of Shire (SHPG) and AbbVie (ABBV) yesterday following the latter's increased takeover offer suggests the market now expects a strong rebuttal from Shire, but "one plausible response" is a gently worded rejection that signals that another raised bid would be enough to secure a deal without a hostile play, contended Reuters Breakingviews columnists Neil Unmack and Robert Cyran. Shire’s board still has some leverage and can "probably extract one more increase in return for their recommendation," the authors believe. Reference Link
06:54 EDTLMTPentagon says no decision yet on F-35s air show attendance, Reuters says
Pentagon press secretary Rear Admiral John Kirby said that a choice has not been made yet on whether to send a group of Lockheed Martin F-35 Joint Strike Fighters to Britain for the plane's international debut at two air shows after the fleet was grounded in response to an engine fire, according to Reuters, citing comments from Kirby. Kirby said, "A decision will be coming pretty soon." Reference Link
06:40 EDTSHPGAbbVie required to retract comments in Shire takeover battle, Reuters says
AbbVie (ABBV) has been required to take back comments made by its CEO Richard Gonzalez regarding shareholder support for its offer for Shire (SHPG), according to Reuters, citing a statement from the U.S. drugmaker. British takeover rules say that a rival is not allowed to claim support for its bid unless it has this in writing from shareholders. Reference Link
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