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Stock Market & Financial Investment News

News Breaks
February 3, 2014
09:08 EDTZNGA, CHTR, MW, UNTD, KTOS, TWC, JOSB, VMEM, SNN, ARTC, HLFOn The Fly: Pre-market Movers
HIGHER: Herbalife (HLF), up 6% after pre-announcing better than expected earnings, boosting share repurchase authorization to $1.5B... ArthroCare (ARTC), up 7% after Smith & Nephew (SNN) agrees to buy the company in a $1.37B deal... Time Warner Cable (TWC), up 2% after Reuters says Charter (CHTR) is considering raising its bid for its cable peer to the low $140s per share... Kratos Defense (KTOS), up 15% after company awarded five-year SeaPort-e contract, stock mentioned positively in this weekend's Barron's... Violin Memory (VMEM), up 5.8% after appointing Kevin DeNuccio, who most recently managed angel investing, management and technology consulting firm Wild West Capital, as its president and CEO. LOWER: JoS. A. Bank (JOSB), down 4% after sending letter to Men's Wearhouse (MW) saying offer is inadequate and reported to be in talks to acquire Eddie Bauer... Zynga (ZNGA), down 3% following downgrade at BofA Merrill Lynch... United Online (UNTD), down 13% after discontinuing its cash dividend payments.
News For HLF;JOSB;MW;ARTC;TWC;CHTR;SNN;KTOS;ZNGA;VMEM;UNTD From The Last 14 Days
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February 4, 2016
10:29 EDTCHTRCharter says 'difficult' to participate in auction without regulatory clarity
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10:26 EDTTWC, CHTRCharter 'hopeful' regulatory process for deals can be completed in March
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09:46 EDTCHTR, TWCCharter says working with DOJ, FCC on Time Warner Cable transaction
Commenting on the Charter (CHTR)/Time Warner Cable (TWC)/Bright House transaction, Charter says the parties have begun working together to ensure that post-closing, New Charter can begin to execute its long term operating strategy. Says parties have obtained approvals that exceed the threshold closing condition for franchise authorities approving the transactions. Says working closely with DOJ and FCC to provide all information required to evaluate merits of the transactions. Comments from slides that will be presented on the Q4 earnings conference call.
09:36 EDTTWCActive equity options trading on open: AAPL FB GPRO AA NFLX BAC TWC YHOO PG
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08:10 EDTCHTRCharter reports Q4 residential customer relationships grew by 82K
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08:10 EDTCHTRCharter reports Q4 EPS ($1.09) vs. (44c) last year
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08:08 EDTCHTRCharter reports Q4 served 6.7M residential, small and medium business customers
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February 3, 2016
15:37 EDTTWC, CHTRCharter pressing California to expedite Time Warner Cable review, CTFN says
Charter (CHTR) is asking the California Public Utilities Commission to expedite its review of the company's proposed merger with Time Warner Cable (TWC) and Bright House, saying additional delays would cause significant financial costs, reports CTFN, citing a conference call between Charter and the Commission. Charter also told the Commission that, if it were to rush approval to April 21, the company could participate in the upcoming FCC spectrum auction, CTFN said. Reference Link
14:48 EDTCHTRNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Philip Morris (PM), consensus 81c... AstraZeneca (AZN), consensus 88c... Occidental Petroleum (OXY), consensus (12c)... ConocoPhillips (COP), consensus (65c)... Cigna (CI), consensus $1.80... Intercontinental Exchange (ICE), consensus $3.01... Boston Scientific (BSX), consensus 25c... Charter Communications (CHTR), consensus (12c)... Ralph Lauren (RL), consensus $2.13... Dunkin' Brands (DNKN), consensus 50c... GrubHub (GRUB), consensus 14c... Level 3 (LVLT), consensus 53c... AmerisourceBergen (ABC), consensus $1.25... Cummins (CMI), consensus $2.11.
07:37 EDTCHTRCharter volatility elevated into Q4 and outlook
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February 2, 2016
10:40 EDTZNGAStifel warns Twitter may go way of tech busts, cuts to Sell
Twitter (TWTR) is giving up nearly all of yesterday's gains after Fortune and The Wall Street Journal poured cold water on a report that private equity firm Silver Lake might be considering making a strategic investment in the company. Additionally weighing on the stock are a Business Insider report claiming that the number of tweets has declined by more than 50% in the last 18 months and research firm Stifel downgrading the stock to Sell. WHAT'S NEW: Yesterday morning, tech website The Information reported that venture capitalist Marc Andreessen and private equity firm Silver Lake have considered making a deal involving Twitter. However, Silver Lake isn't looking to make a deal with Twitter, The Wall Street Journal reported, citing an unnamed source. The Journal's article echoes a report yesterday afternoon by Fortune, which also quoted an unnamed source as saying that Silver Lake isn't interested in buying Twitter. Also, according to Business Insider, the number of daily tweets on Twitter has plummeted by more than 50% since August 2014. The report based its estimate on a sampling of data from the website's application programming interface. Last month, there were 303M tweets per day on average, down from the peak of an average of 661M per day in August 2014, when the World Cup was occurring, the website stated. Moreover, according to the data, Twitter has about 130M active users, versus the company's estimate of up to 320M monthly active users. STIFEL SAY SELL: Stifel analyst Scott Devitt downgraded Twitter to Sell form Hold, saying that it has "never fully developed into a sustainable public company." Yahoo (YHOO) says that it has 1B monthly active users, but the market valuation of Yahoo's core business is "much lower" than that of Twitter, which has a significantly smaller user base, Devitt stated. Additionally, Internet companies Groupon (GRPN) and Zynga (ZNGA) became well-known and obtained tens of millions of users, only to see their stocks plummet, the analyst stated. Meanwhile, Twitter's product has not changed significantly since the company hired a new CEO three months ago and it will have difficulty meeting financial expectations over the short-term and longer term, given the size of its user base, said Devitt, who has a $14 price target for the shares. PRICE ACTION: In morning trading, Twitter fell 6.3% to $16.78. The stock had gained 6.55% yesterday on the heels of Jessica Lessin's report in The Information.
07:22 EDTTWCScripps, TWC, reach multiyear retrans agreement, Broadcasting & Cable says
Scripps (SNI) and Time Warner Cable (TWC) have quietly reached a multi-year retransmission consent deal for stations representing more than 3M households in 14 markets, Broadcasting & Cable reports, citing a broadcast source familiar with the deal. The agreement also includes certain Bright House cable systems, the report says. Affected markets include Bakersfield, Cleveland, Cincinnati, Denver, Detroit, Green Bay, Indianapolis, Kansas City, Nashville, Omaha, Milwaukee, San Diego and Tampa, the report says. Reference Link
February 1, 2016
14:28 EDTSNNStryker deal for Smith & Nephew now unlikely, says Piper Jaffray
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12:42 EDTHLFHerbalife names John Agwunobi Chief Health and Nutrition Officer
Herbalife announces that John Agwunobi has joined the company as its Chief Health and Nutrition Officer. Most notably, from 2005-2007, he served as the Assistant Secretary of Health for the U.S. Department of Health and Human Services.
12:13 EDTSNNOn The Fly: Top stock stories at midday
Stocks on Wall Street were lower at midday, but off their worst levels of the day, as oil is once again being weighed on by worries of slower growth in China. Several M&A announcements helped fuel speculation that deal-making may be set to pick up, but the headwinds of lower oil prices and weak economic data are outweighing that potential boost and keeping stocks in the red to start the month. ECONOMIC EVENTS: In the U.S., personal income rose 0.3% in December, versus expectations for an increase of 0.2%, while spending was flat, versus expectations for an increase of 0.1%. Markit's manufacturing purchasing managers index for January dipped to 52.4 in the final January reading, down from the 52.7 flash reading and the below the 52.6 reading that was expected. The Institute for Supply Management's manufacturing index for January came in at 48.2, below the 48.4 that analysts expected. Construction spending rose 0.1% in December, which was weaker than the 0.6% increase that was forecast. In China, the statistics bureau's official manufacturing purchasing managers index fell to 49.4 in January from 49.7 in December. The private Caixin manufacturing PMI edged up to 48.4 from 48.2 in the prior reading, but both figures still remain in contraction territory. In Europe, Markit's manufacturing PMI for the euro zone dropped to 52.3 from December's 53.2, in-line with the earlier flash estimate. COMPANY NEWS: Shares of Twitter (TWTR) advanced 9% after tech reporter Jessica Lessin said private equity firm Silver Lake and investor Marc Andreessen have "considered some sort of deal" for the microblog service operator. Lessin noted in the report published on her site, The Information, that she did not know if deal talks are "active" now between Andreessen, Silver Lake and Twitter... Alere (ALR) surged 45% to $54 per share near midday after Abbott (ABT) agreed to acquire the company for $56 per share at a total expected equity value of $5.8B. In other Monday M&A news, Questar (STR) rose 22% after Dominion Resources (D) agreed to acquire it for $25 per share, or about $4.4B, and assume Questar's outstanding debt. Meanwhile, Stryker (SYK) announced a deal to acquire Sage Products for $2.775B in cash. The buyers' shares did not fare as well in the wake of the deal announcements, as Abbott slipped 0.5%, Dominion dipped 1% and Stryker fell 1%. Also lower were shares of Smith & Nephew (SNN), which slid fractionally as investors may have been concerned that Stryker's deal decreases the likelihood that it will come after S&N. Additionally, Smith & Nephew announced that its CEO Olivier Bohuon has been diagnosed with a "highly treatable" form of cancer. MAJOR MOVERS: Among the notable gainers was Lumber Liquidators (LL), which gained 8.5% after a judge accepted the company's $10M plea deal to settle timber source crime charges, according to media reports. Also higher was Chipotle (CMG), which rose 5.5% after The Wall Street Journal reported that the Centers for Disease Control and Prevention is expected to formally declare the end to its E.coli outbreak as soon as today. In addition, Sysco (SYY) and Aetna (AET) were up 7% and 2%, respectively, after reporting quarterly earnings. Among the noteworthy losers was Nokia (NOK), which fell 12% after it forecasted how much revenue it expects to gain from its IP portfolio after its patent deal with Samsung (SSNLF) and its shares were downgraded at Canaccord and BofA Merrill Lynch. Also lower was GoPro (GPRO), which was slid 5% after analysts from Piper Jaffray and Citi predicted that the company's guidance to be issued this week will disappoint investors. In addition, Roper Technologies (ROP) and ImmunoGen (IMGN) were down 6.5% and 5.7%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was down 56.40, or 0.34%, to 16,409.90, the Nasdaq was down 12.25, or 0.27%, to 4,601.70, and the S&P 500 was down 6.51, or 0.34%, to 1,933.73.
09:27 EDTHLFOn The Fly: Pre-market Movers
HIGHER: Alere (ALR), up 45.4% after announcing that Abbott (ABT) will acquire the company for $56 per share... Questar (STR), up 20.2% after announcing that Dominion (D) will acquire the company for $25 per share and assumed debt... Mast Therapeutics (MSTX), up 12.2% after the Phase 2a study of AIR001 met its primary endpoint... Twitter (TWTR), up 5.7% after The Information reported that Marc Andreessen and Silver Lake have considered a deal for Twitter... Herbalife (HLF), up 2.2% after the Wall Street Journal reported that probes into Bill Ackman's "pyramid scheme" accusations against Herbalife, as well as Herbalife's own accusations that Ackman sought to manipulate the company's stock, have both failed to uncover enough evidence to support criminal charges. LOWER: Dominion Resources, down 1.7% after reporting quarterly results and that it will acquire Questar... Abbott, down 4.1% after announcing that it will acquire Alere... GoPro (GPRO), down 4.4% after Piper Jaffray cut its price target to $7.50.
09:04 EDTHLFHerbalife moves higher in pre-market
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08:26 EDTSNNSmith & Nephew reports CEO diagnosed with 'highly treatable' cancer
Smith & Nephew announced that Olivier Bohuon, Chief Executive Officer, has been diagnosed with a highly treatable form of cancer. "Olivier will remain Chief Executive Officer and be actively involved in running the Company through much of his treatment period, which will begin later this month. The treatment will include chemotherapy, and is expected to be completed by late autumn. The Board has approved provisional governance procedures to ensure the effective operation of Smith & Nephew during the treatment period, including Chairman Roberto Quarta providing executive oversight if required," the company stated.
January 31, 2016
20:43 EDTHLFOn The Fly: Top five weekend stock stories
Catch up on the weekend's top five stories with this list compiled by The Fly: 1. Coca-Cola (KO) announced a minority stake in diary and juice company Chi, with plans to take full ownership within three years. 2. Billionaire investor Nelson Peltz is considering taking an activist position in Time Warner (TWX), the New York Post reported. 3. Toyota (TM) could temporarily halt domestic production after an explosion at a key supplier curbed its supply of steel, Reuters said. 4. Investigations into Herbalife (HLF), as well as investigations into Bill Ackman himself, have fizzled and criminal charges look unlikely, the Wall Street Journal revealed. 5. Virtu Financial (VIRT) and Ctrip (CTRP) were discussed positively by Barron's this week, as well as "tech bargains" Autodesk (ADSK), Akamai (AKAM), Western Digital (WDC), SanDisk (SNDK) and Lam Research (LRCX) and attractive banking stocks Citi (C), JPMorgan (JPM), Bank of America (BAC) and Wells Fargo (WFC).
19:24 EDTHLFHerbalife, Ackman probes fail to find criminal evidence, WSJ says
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