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Stock Market & Financial Investment News

News Breaks
December 19, 2012
16:30 EDTONTY, ALTE, IDTI, AIR, GM, PLXT, MKL, HLFOn 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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December 17, 2014
10:42 EDTHLFAckman says continues to believe Herbalife shares worth zero
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10:42 EDTHLFAckman says Herbalife Q4 results will be worse than Q3
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10:41 EDTHLFAckman says Herbalife business deteriorating
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10:19 EDTHLFHerbalife January and February volatility elevated, shares near 18-month low
Herbalife December call option implied volatility is at 54, January is at 71, February is at 86; compared to its 26-week average of 61 according to Track Data, suggesting large near term price movement.
December 16, 2014
09:59 EDTGMOn The Fly: Analyst Downgrade Summary
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07:30 EDTGMGeneral Motors retreats in pre-market after analyst downgrades shares
GM shares are falling in pre-market trading after RBC Capital downgraded the stock to Sector Perform from Outperform, citing weak auto trends in North America and overly optimistic targets by the company. WHAT'S NEW: In North America, GM will face slowing demand, negative pricing trends, and higher regulatory and content costs, RBC Capital analyst Joseph Spak wrote in a note to investors today. The company's target for 10% profit margins in North America appears to be optimistic, given competition from the major Japanese automakers, which are benefiting from yen weakness, the analyst stated. Similarly, GM's Cadillac sales targets also seem ambitious, as it faces competition from German competitors that are in a strong position in North America and have a foothold in China, according to Spak. The analyst reduced his price target on the stock to $35 from $41. PRICE ACTION: In early pre-market trading, GM fell nearly 1% to $30.75.
06:33 EDTGMGeneral Motors downgraded to Sector Perform from Outperform at RBC Capital
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06:03 EDTHLFHerbalife insider trading case dismissed by SEC, NY Post reports
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December 15, 2014
13:16 EDTGMUAW head looking for wage hikes in new contract, Automotive News says
Veteran auto workers should get a wage increase in a new contract, while the compensation of newly hired employees should move closer to that of longer serving workers, UAW President Dennis Williams said today, according to Automotive News. Williams said he is not considering launching a strike when the auto workers' contact ends in September, the website 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
11:30 EDTGMGeneral Motors management to meet with Sterne Agee
Meeting to be held in New York on December 19 hosted by Sterne Agee.
08:11 EDTMKLMarkel downgraded to Market Perform from Outperform at William Blair
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06:55 EDTGMTakata tightening restrictions on suppliers, Reuters reports
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December 12, 2014
09:13 EDTONTYOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Adobe (ADBE), up 5.5% after reporting first quarter results and that it will acquire Fotolia for approximately $800 in cash. ALSO HIGHER: ChemoCentryx (CCXI), up 107.1% after Phase II clinical trial in diabetic nephropathy with CCX140 met its primary endpoint... Oncothyreon (ONTY), up 15.8% after announcing exclusive agreement with Array BioPharma (ARRY)... Talisman Energy (TLM), up 24.4% after a report that Repsol (REPYY) is preparing to make a C$6.00 per share bid... GoPro (GPRO), up 4.4% after being upgraded to Overweight from Neutral at JPMorgan. LOWER: Emerald Oil (EOX), down 18% after cutting fiscal 2015 guidance, naming new COO, and providing an updated fiscal 2015 development plan... Goodrich Petroleum (GDP), down 8.2% after being downgraded to Underweight from Overweight at JPMorgan... MEI Pharma (MEIP), down 3.9% after 10M share Secondary priced at $4.00... Heritage-Crystal Clean (HCCI), down 6.6% after 3.1M share Secondary priced at $10.00.
07:11 EDTONTYOncothyreon announces positive preliminary data from 2 ONT-380 Phase 1b trials
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07:01 EDTONTYOncothyreon announces exclusive agreement with Array BioPharma
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December 11, 2014
09:35 EDTHLFHerbalife says product claims have 'strict rules and guidelines'
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09:34 EDTHLFVideo entitled 'Harmful Promises' posted to Ackman's Herbalife website
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07:49 EDTGMThe New York Times to hold a conference
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December 9, 2014
07:44 EDTONTYAmerican Association for Cancer Research to hold a symposium
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December 8, 2014
11:10 EDTGMVolkswagen sees challenging developments continuing for rest of year
Volkswagen (VLKAY) said, “The challenging developments on markets worldwide – above all in Eastern Europe and South America – will continue for the remainder of this year. The Volkswagen Passenger Cars brand handled these challenges successfully during the course of the year, but was not entirely immune to their impact.” Other publicly traded companies in the passenger automotive space include Fiat Chrysler (FCAU), Ford (F), General Motors (GM), Honda (HMC), Nissan (NSANY), and Toyota (TM).
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