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Stock Market & Financial Investment News

News Breaks
February 14, 2013
12:25 EDTHNZ, ULTA, WTW, Z, VCLK, ANGI, CSCO, PEP, GM, AAMRQ, LCC, BUD, STZ, BRK.A, WFMOn The Fly: Midday Wrap
Stocks on Wall Street were little changed at midday in spite of fewer than expected weekly jobless claims and a flurry of mergers and acquisitions announcements. The domestic news was offset by worse than expected economic growth data from Europe and Japan, leaving the major averages mixed near noon... ECONOMIC EVENTS: In the U.S., weekly jobless claims fell 27K from the prior week to 341K, versus expectations for 360K claims. In Europe, the euro zone's 0.6% contraction in gross domestic product in the fourth quarter was the steepest for the bloc since early 2009. The zone's two biggest economies shrank more than expected, as Germany's economy contracted 0.6% and France's shrunk 0.3%. In Asia, Japan’s real gross domestic product contracted for the third straight quarter, shrinking 0.1% in the final three months of last year... COMPANY NEWS: M&A news stole the headlines, as household names Heinz (HNZ), US Airways (LCC), American Airlines (AAMRQ) and Anheuser-Busch (BUD) were all involved in high-profile deals. Warren Buffet's Berkshire Hathaway (BRK.A), along with partner 3G Capital, agreed to buy H.J. Heinz for $72.50 in cash per share, sending the stock of the ketchup maker up 20%. Constellation Brands (STZ) soared more than 35% after the terms of its deal with AB InBev were revised, granting Constellation perpetual rights to distribute Corona and other Modelo brands in the U.S. AB InBev shares also gained over 4% following the modification, which the company hopes will end its fight with the DOJ over its intention to acquire Grupo Modelo. US Airways shares fell 7% after it agreed to merge with bankrupt AMR Corp, the parent of American Airlines, in a deal that will create the world's biggest air carrier... Almost overshadowed among the M&A news were earnings reports from giants General Motors (GM), PepsiCo (PEP) and Dow component Cisco (CSCO). Of the three, only Pepsi traded higher following its results and outlook... MAJOR MOVERS: Among the notable gainers following their earnings reports were Angie's List (ANGI), up 24%, ValueClick (VCLK), up 16%, and Zillow (Z), up 12%. Among the noteworthy losers after their quarterly reports were Weight Watchers (WTW), down 16%, Ulta Salon (ULTA), down 12%, and Whole Foods Market (WFM), down over 9%... INDICES: Near noon, the Dow was down 9.40, or 0.07%, to 13,973.51; the Nasdaq was up 0.31, or 0.01%, to 3,197.19; and the S&P 500 was up 0.14, or 0.01%, to 1,520.47.
News For A;STZ;BUD;LCC;AAMRQ;GM;PEP;CSCO;ANGI;VCLK;Z;WTW;ULTA;WFM From The Last 14 Days
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April 9, 2014
12:06 EDTSTZConstellation Brands falls after open near 52-week high
The shares were last down 2.9% to $79.11. The shares opened near the 52-week high but failed to exceed it and a slide in share price began that has been steady through the session. Support is at the low of the day at $77.72, from where a small intraday double bottom bounce took place. Resistance is at $81.48, the prior day close.
11:42 EDTSTZConstellation Brands says M&A position and strategy have not changed
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11:40 EDTCSCOCisco to participate in a conference call with Sanford Bernstein
Bernstein Analyst Ferragu hosts a conference call with Cisco's SVP Jiandani to discuss Cisco's Application Centric Infrastructure (ACI) on April 10 at 11 am. Webcast Link
11:21 EDTSTZOptions with decreasing implied volatility: YONG STZ AA
11:10 EDTSTZConstellation Brands sees headwinds from grape costs abating
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11:06 EDTSTZConstellation Brands sees Q1 net sales down in the low to mid single digit range
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11:01 EDTSTZConstellation Brands sees FY15 EBIT growth at or above sales growth
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10:20 EDTSTZHigh option volume stocks: CZR STZ TCK GIMO NCR
10:06 EDTGMOn The Fly: Analyst Downgrade Summary
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10:02 EDTGMBofA/Merrill's US autos/auto parts analyst has analyst/industry conference call
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09:36 EDTSTZActive equity options trading on open
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09:11 EDTPEP, GMOn The Fly: Pre-market Movers
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09:00 EDTSTZConstellation Brands rises 3.4%
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07:36 EDTSTZConstellation Brands sees FY15 adjusted EPS $3.95-$4.15, consensus $3.95
In FY15, the company is targeting mid-to-high single digit net sales growth for the beer segment. In FY14, beer segment operating income totaled $773M. This included 100% of Crown's operating income for the entire year and brewery profits since the date of acquisition in June 2013. For FY15, the company expects beer segment operating income to grow in the low-to-mid 20% range. Excluding the anticipated brewery acquisition benefit, underlying operating income growth for the beer segment is expected to be in the 10%-12%range. For the wine and spirits segment in FY15, the company expects net sales and operating income growth to be in the low-to-mid single digit range.
07:33 EDTSTZConstellation Brands reports Q4 adjusted EPS 81c, consensus 76c
Reports Q4 revenue $1.29B, consensus $1.29B. The significant increase for consolidated net sales was driven by $598M of incremental net sales related to the consolidation of Crown. Net sales for the beer segment increased 13% primarily due to volume growth driven by strong consumer demand. Wine and spirits net sales on an organic constant currency basis increased one percent as volume growth was mostly offset by unfavorable mix and higher promotional spend.
07:29 EDTPEPKellogg speculated as Berkshire target amid volatile trading, Bloomberg says
Kellogg (K) shares have surged over last week amid speculation the company may be a takeover target for Warren Buffett’s Berkshire Hathaway (BRK.A), said Bloomberg's "Real M&A" column, which noted that Kellogg fits the financial criteria for the types of acquisitions Buffet has made in the past. Kellogg could also appeal to another food company, like PepsiCo (PEP) or Nestle (NSRGY), the report added. Reference Link
06:40 EDTGMCar sales rose 9% last month in China, China Daily says
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06:32 EDTGMGeneral Motors downgraded to Underweight from Equal Weight at Morgan Stanley
Morgan Stanley downgraded General Motors based on expectations the industry will be pressured by increasing technology capex needs. The analyst believes GM will need to invest heavily into connected vehicles, advanced power trains and eventually autonomous cars which will pressure margins and earnings. The firm views valuation as fair but not on a relative basis vs. its coverage universe and assigned an Underweight rating on shares with a $33 price target.
06:00 EDTGMGeneral Motors workers in Kentucky vote to allow strike, AP reports
GM's auto workers at its Bowling Green, Kentucky plant have voted to authorize a strike over safety concerns, the Associated Press reports. More than 90% of the eligible union workers voted to call a strike if necessary. Reference Link
05:26 EDTPEPSenomyx enters into research agreement with PepsiCo, terms not disclosed
Senomyx (SNMX) announced that it has entered into a new collaborative agreement with PepsiCo (PEP) related to Senomyx's Salt Taste Program. The new collaboration will support Senomyx's continued work to identify flavors with modifying properties intended to restore the desired salty taste in products with reduced salt. Under the new agreement, PepsiCo will provide research funding for the Salt Taste Program for 2014 and has options to extend the research funding period. PepsiCo will have non-exclusive rights to salt flavor modifiers discovered during the research funding period. In addition, Senomyx will have the right to supply these flavor ingredients directly to PepsiCo. Financial terms of the agreement have not been disclosed.
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