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Stock Market & Financial Investment News

News Breaks
December 19, 2012
16:30 EDTAIR, GM, PLXT, MKL, HLF, ONTY, ALTE, IDTIOn The Fly: Closing Wrap
Stocks on Wall Street finished lower after a session that saw the averages trade on either side of the flat line. News out of Washington continued to dominate the headlines. House Speaker Boehner, speaking in the afternoon, said that it was time for President Obama to "get serious" on the budget, which sent the averages to their lows... ECONOMIC EVENTS: In the U.S., housing starts slid 3.0% in November to a 861,000 start rate, versus the expected 872,000. However, building permits rose 3.6% month over month to a 899,000 rate, versus the expected 875,000... COMPANY NEWS: CNBC's Kate Kelly reported that activist investor Bill Ackman has taken a "major" short position in Herbalife (HLF). The report said that Ackman considers Herbalife a "pyramid scheme" and will disclose his position, taken after several months of research, at an investor event tomorrow. Shares of Herbalife were halted for volatility following the report and finished the day down $2.28, or 5.36%, at $40.22... General Motors (GM) announced plans to buy back 200M shares held by the U.S. Treasury in a first step toward the government's full exit from its holding within the next 12 to 15 months. GM will pay $27.50 a share, or $5.5B total, and expects to close the deal to reduce the government's stake in the company to 19% from 26.5% by the end of this year. GM shares rose $1.69, or 6.63%, to $27.18 after the news... MAJOR MOVERS: Among the notable gainers was AAR Corp. (AIR), up $2.23, or 13.32%, to $18.97 after reporting earnings that beat Street estimates, raising its FY13 EPS view, and seeing its price target raised to $24 from $22 at DA Davidson. Also higher were shares of Alterra Capital (ALTE), up $5.03, or 21.73%, to $28.18 following its deal to be acquired by Markel (MKL) for $31 per share in stock and cash. Shares of Markel lost $49.81, or 10.25%, to close at $436.24. Among other noteworthy losers was Oncothyreon (ONTY), down $2.31, or 51.33%, to $2.19 after its lung cancer drug missed its endpoint in a study. Also lower were shares of PLX Technology (PLXT), down 80c, or 17.78%, to $3.70 after news the FTC would seek to block the company's planned merger with Integrated Device Technology (IDTI). Conversely, shares of Integrated Device rose 16c, or 2.31%, to $7.08... INDICES: The Dow was down 98.99, or 0.74%, to 13,251.97; the Nasdaq was down 10.17, or 0.33%, to 3,044.36; and the S&P 500 was down 10.98, or 0.76%, to 1,435.81.
News For HLF;GM;ALTE;MKL;AIR;ONTY;PLXT;IDTI From The Last 14 Days
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November 20, 2014
14:47 EDTGMMobileye sinks despite better than expected revenue, outlook
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09:10 EDTGMGeneral Motors sued by Arizona over recalls, NY Times says
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07:57 EDTGMIIHS crash tests results for minivans 'one of the worst', CNBC says
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November 19, 2014
10:00 EDTHLFOn The Fly: Analyst Initiation Summary
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06:51 EDTGMRegulators push automakers for wider airbag recall, NY Times says
The National Highway Traffic Safety Administration urged automakers to recall all U.S. vehicles with airbags made by Takata, according to The New York Times. The recall of of vehicles with the airbags has been limited to two states and two territories associated with high humidity, the newspaper stated. Publicly traded companies in the space include Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
06:14 EDTHLFHerbalife initiated with a Buy at BTIG
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November 18, 2014
17:37 EDTGMNHTSA wants 'millions of vehicles' recalled due to Takata air bags, CNBC reports
The National Highway Traffic Safety Administration, or NHTSA, is calling for a nationwide recall of "millions of vehicles" due to Takata air bags that could inflate with too much force and injure drivers, reports CNBC. The NHTSA stated that the agency will "use the full extent of its statutory powers" if the recall is not conducted quickly, CNBC added. Publicly traded companies in the space include Fiat S.p.A. (FIATY), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), Toyota (TM) and Volkswagen (VLKAY). Reference Link
November 17, 2014
06:07 EDTGMDeadline extended for GM compensation claims, AP reports
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November 14, 2014
17:13 EDTGMAppaloosa gives quarterly update on stakes
NEW STAKES: NXP Semiconductors (NXPI), Lorillard (LO), Alibaba (BABA), and Shire (SHPG). INCREASED STAKES: Whirlpool (WHR), Priceline (PCLN), Delta (DAL), CBS (CBS), and General Motors (GM). DECREASED STAKES: American Airlines (AAL), Disney (DIS), Apple (AAPL), MGM Resorts (MGM), and Eastman Chemical (EMN). LIQUIDATED STAKES: Expedia (EXPE), AIG (AIG), Prudential (PRU), Celanese (CE), and ASML Holding (ASML).
17:07 EDTHLFSoros Fund Management gives quarterly update on stakes
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16:39 EDTGMBerkshire Hathaway gives quarterly update on stakes
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08:07 EDTHLFHerbalife director linked to Brazilian fraud case, Reuters reports
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07:52 EDTIDTIIntegrated Device to benefit from wireless charging adoption, says Craig-Hallum
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07:32 EDTGMHayman Capital gives quarterly update on stakes
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November 13, 2014
06:24 EDTGMHeidrick & Struggles picked by GM to find new general counsel, WSJ reports
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November 12, 2014
08:42 EDTGMGeneral Motors' Ammann leading push for change, WSJ says
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November 11, 2014
17:17 EDTGMGM scales back workers, production at small car plant, WSJ says
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05:51 EDTHLFStocks with implied volatility movement; HLF CMCSA
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November 10, 2014
16:28 EDTONTYOncothyreon, Celldex announce initiation of ONT-10, varlilumab clinical trial
Oncothyreon Inc. (ONTY) and Celldex Therapeutics (CLDX) announced that they have initiated a combined clinical trial of ONT-10 and varlilumab. ONT-10 is a therapeutic vaccine targeting the tumor-associated antigen MUC1. Varlilumab is a fully human monoclonal antibody that targets CD27, a critical molecule in the activation pathway of lymphocytes. The trial is an open-label Phase 1b study of ONT-10 administered at the recommended single agent dose in combination with varlilumab at two dose levels in up to 42 patients with advanced breast or ovarian cancer. The primary objective of the trial is to determine the safety and tolerability of the combined therapy. Additional objectives include evaluations of the impact of combination treatment on MUC1-specific humoral and cellular immune responses, T-cell activation markers and levels of regulatory T-cells, and anti-tumor effects. The Phase 1b trial will be conducted by Oncothyreon under the terms of a previously announced collaboration agreement between Oncothyreon and Celldex. The two companies will jointly own the data from the trial and will make any plans for potential future development of the combination therapy together. Under the agreement, neither company has granted the other a license, or any other rights, to its product candidate.
06:41 EDTGMGM ordered new switches months before recall, WSJ reports
Half a million replacement ignition switches were ordered by General Motors (GM) almost two months before it alerted federal safety regulators of the issues that led to a recall of millions of vehicles, the Wall Street Journal reports, citing email exchanges between the automaker and Delphi Automotive (DLPH). The email exchanges, which took place in mid-December 2013 between a GM contract worker and Delphi, indicate GM placed an "urgent" order for 500,000 replacement switches on December 18, a day after a meeting of senior executives. Reference Link
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