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Stock Market & Financial Investment News

News Breaks
April 12, 2012
16:19 EDTHPQ, ILMN, AVID, CSCO, FIO, MIPS, MRC, FET, OAK, RHHBYOn The Fly: Closing Wrap
Stocks on Wall Street rose significantly on indications from the New York Fed that interest rates will likely remain low. Stock futures were slightly above fair value in early trading but weakened following the slightly disappointing jobless claims data. The futures action led to a relatively quiet open for the market but it soon picked up momentum to the upside. The market moved up roughly 0.5% in early trading, then spurted higher before noon. Investors rallied the market after last night’s comments from Fed president Janet Yellen, who said the Fed should be ready to ease its fiscal stance if the economy weakened while also being willing to raise rates if the economy warranted. Investors grabbed onto the dovish comments and lifted the market for the second day in a row… ECONOMIC EVENTS: In the U.S., 380K initial jobless claims were filed last week, versus the expected 355K. 3.25M continuing claims were reported, versus the expected 3.33M. Producer prices for the month of March were flat, versus the expected increase of 0.3%. The core PPI reading, however, rose 0.3%, versus the expected increase of 0.2%. The trade balance report showed a deficit of $46.0B, versus expectations for a deficit of $51B. In Europe, Italy's short-term borrowing costs rose at auction... COMPANY NEWS: Hewlett-Packard (HPQ) was a beneficiary of two reports from Gartner and IDC, each of which showed that global shipments of personal computers rose in Q1, with HP remaining the top PC maker by volume. On the day, Hewlett-Packard stock was up 7.18% to $25.09… Oaktree Capital (OAK), Forum Energy Technologies (FET) and MRC Global (MRC) all traded for the first time today, though none of the companies' stocks moved much compared to their IPO prices... MAJOR MOVERS: Among the notable gainers were MIPS Technologies (MIPS), which jumped 26.30%, to $6.58, after Bloomberg reported that Goldman Sachs (GS) had been hired to advise it on a possible sale of the company, and Fusion-io (FIO), which rose 14.80%, to $28.31, following a note to investors from Piper Jaffray saying it believes the company is working on a new original equipment manufacturer deal with Cisco (CSCO)… Noteworthy losers included Avid Technology (AVID), which lost 17.32%, to $8.50, after the company announced it expects to post Q1 revenues lower than last year, and Illumina (ILMN), which dropped 5.82%, to $49.51, after Roche Holding’s (RHHBY) CEO said he doesn’t see any reason to raise the current offer for the company… INDICES: The Dow gained 181.19 points, or 1.41%, to 12,986.58; the Nasdaq rose 39.09 points, or 1.30%, to 3,055.55; and the S&P 500 added 18.86 points, or 1.38%, to 1,387.57.
News For HPQ;OAK;FET;MRC;MIPS;FIO;CSCO;AVID;ILMN;RHHBY From The Last 14 Days
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July 21, 2014
06:43 EDTRHHBYGrowing market for hepatitis-C treatment prompts legal scramble, WSJ says
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06:32 EDTILMNIllumina's NGS selected by Berry Genomics
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July 20, 2014
15:42 EDTRHHBYRoche not looking for big acquisitions, Reuters says
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July 17, 2014
17:42 EDTRHHBYCepheid says Roche patent suit will not have material adverse impact on results
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16:13 EDTHPQHP appoints Whitman Chairman, Alcoa's Kleinfeld joins board
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12:15 EDTFIOSanDisk plummets after Q3 revenue outlook disappoints
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10:00 EDTILMNOn The Fly: Analyst Initiation Summary
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06:28 EDTHPQHP increasing fire-safety audits in China, WSJ reports
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06:20 EDTILMNIllumina initiated with a Buy at Citigroup
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July 16, 2014
17:48 EDTFIOSanDisk says expects to be 'somewhat supply constrained' in 2H14
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16:00 EDTHPQOptions Update; July 16, 2014
iPath S&P 500 VIX Short-Term Futures down 70c to 27.25. Option volume leaders: AAPL FB GOOG AMZN TWTR TSLA C HPQ TWX INTC AMZN according to Track Data.
13:44 EDTFIOEarnings Preview: Stifel sees SanDisk results, guidance topping expectations
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11:23 EDTRHHBYRoche Alzheimer drug shows mixed results in trial, NYT says
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09:37 EDTHPQActive equity options trading on open
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08:55 EDTHPQBarclays tech hardware analyst holds an analyst/industry conference call
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08:05 EDTHPQHP has positive read through from Intel results, says Pacific Crest
Pacific Crest has an upward bias on its estimates for HP (HPQ) following Intel's (INTC) positive comments on the PC market. The firm thinks that HP's stock could jump another 20% if enterprise PC fundamentals continue to improve. It keeps an Outperform rating on HP.
08:03 EDTFIOSanDisk announces expiration of HSR waiting period for Fusion-io purchase
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07:10 EDTOAKBlackstone, Oaktree strive for Catalunya mortgage portfolio, Reuters says
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06:31 EDTILMNIllumina acquires Myraqa
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06:26 EDTRHHBYBristol-Myers lung cancer trials being underestimated, says Citigroup
After building a statistical model of Bristol-Myers' two critical registration trials for Opdivo in lung cancer, Citigroup believes the market is "materially" underestimating both Phase III trials. Citi says potential Opdivo FDA approval in 2015 in lung cancer would give Bristol-Myers an up to two year lead time versus Merck (MRK) and Roche (RHHBY). The firm estimates 2023 Opdivo revenue at $7B and reiterates a Buy rating on Bristol with a $60 price target.
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