New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
January 2, 2013
16:24 EDTHPQ, UNH, MRK, JNJ, ZIP, CAR, X, DOLE, SKULOn The Fly: Closing Wrap
Stocks on Wall Street were significantly higher after U.S. lawmakers agreed on a deal to prevent falling off the fiscal cliff late last night. Several issues, including the debt ceiling, were pushed off by the agreement, but the stop-gap measure provided investors with enough temporary stability to send the market sharply higher at the open. The averages did not move far from their early levels and closed at the highs of the session... ECONOMIC EVENTS: In the U.S., Markit's final reading for December's purchasing managers' index came in at 54.0, which was up from 52.8 a month ago and beat expectations for a downward revision to 53.6. The ISM's December manufacturing PMI had a reading of 50.7, versus the expected 50.5, while the prices paid index came in at 55.5, versus the expected 50.8. A separate report showed construction spending fell 0.3% in November, versus an expected increase of 0.6%... COMPANY NEWS: Every member of the Dow Jones Industrial Average gained on the session, though UnitedHealth (UNH) rose only 30c, or 0.55%, to $54.54 and fellow healthcare companies Merck (MRK) and Johnson & Johnson (JNJ) were the average's other laggards. Shares of Hewlett-Packard (HPQ) lead the index, gaining 77c, or 5.4%, to $15.02... MAJOR MOVERS: Among the notable gainers was Zipcar (ZIP), which rose $3.94, or 47.82%, to $12.18 following its agreement to be acquired for $12.25 per share in cash by Avis Budget (CAR). Avis shares also gained 95c, or 4.79%, to $20.77. Also higher were shares of U.S. Steel (X), up $2.04, or 8.55%, to $25.89 after an upgrade to Outperform and a price target raise to $30 from $20 per share at Credit Suisse. Among noteworthy losers were shares of Dole Food (DOLE), which fell $1.54, or 13.43%, to $9.93 after the company said its fresh fruit business continues to experience declining earnings. Also lower was Skullcandy (SKUL), down 99c, or 12.71%, to $6.80 after Jefferies downgraded the stock two notches, to Underperform from Buy... INDICES: The Dow was up 308.41, or 2.35%, to 13,412.55; the Nasdaq was up 92.75, or 3.07%, to 3,112.26; and the S&P 500 was up 36.23, or 2.54%, to 1,462.42.
News For HPQ;UNH;MRK;JNJ;ZIP;CAR;X;DOLE;SKUL From The Last 14 Days
Check below for free stories on HPQ;UNH;MRK;JNJ;ZIP;CAR;X;DOLE;SKUL the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | all recent news | >>
September 12, 2014
15:26 EDTHPQHP exploring sale of Snapfish photo service, Reuters reports
Subscribe for More Information
14:44 EDTXU.S. Steel receives final approval for Minntac expansion
Subscribe for More Information
07:11 EDTCARAvis Budget management to meet with Deutsche Bank
Meetings to be held in Baltimore/Wilmington on September 12 hosted by Deutsche Bank.
September 11, 2014
18:30 EDTHPQHP, Russia plead guilty, sentenced for bribing Russian government officials
Subscribe for More Information
16:10 EDTHPQHP acquires open source cloud software maker Eucalyptus
Subscribe for More Information
11:17 EDTHPQEMC seen as potential target after said to mull VMware stake sale
EMC (EMC) is considering selling its 80% stake in cloud computing infrastructure provider VMware (VMW), The New York Post reported today, citing unnamed sources. Calling The New York Post "surprisingly accurate" on M&A news, UBS said the likelihood of change at EMC has increased and it has become a potential takeover target. WHAT'S NEW: EMC is exploring the possibility of selling its stake in VMware, which could be acquired by HP (HPQ), according to one source, The Post reported. EMC could also look to sell other assets, the newspaper quoted a second unnamed source as saying. ANALYST REACTION: UBS analyst Steven Milunovich wrote that he is more convinced in the wake of the Post story that "something is up" at EMC. Although EMC has denied in the past that it would consider selling or spinning off VMware, the company could change its tune, the analyst stated. HP could buy VMware or all of EMC, while Oracle (ORCL) and Cisco (CSCO) are also potential buyers of EMC, Milunovich believes.The analyst kept a $33 price target and Buy rating on shares of EMC. WHAT'S NOTABLE: Activist investor Elliott Management, a hedge fund, has taken a $1B stake in EMC and wants the company to spin off VMware, The Wall Street Journal reported in July. Early last month, research firm FBR Capital wrote that an EMC spin-off of VMware could enhance shareholder value for both companies and make VMware a top acquisition candidate by a larger technology company. The firm kept an Outperform rating on EMC at that time. PRICE ACTION: In late morning trading, EMC was little changed at $29.50, down from its earlier high of $29.89. VMware fell 0.7% to $96.75, down from its earlier daily high of $97.86.
10:30 EDTHPQUBS sees increasing likelihood of change at EMC
UBS calls the New York Post "surprisingly accurate on M&A" after the paper reported that EMC (EMC) is considering the sale of its stake in VMware (VMW). The firm believes the likelihood for change at the company is rising. In addition, UBS says the industry should consolidate, and it views EMC as a potential target. UBS thinks Cisco (CSCO), Oracle (ORCL) and HP (HPQ) might be interested parties in owning part or all of EMC. The firm believes an HP, EMC merger would make sense. UBS has a Buy rating on EMC with a $33 price target.
07:37 EDTCARAvis Budget management to meet with Deutsche Bank
Subscribe for More Information
07:11 EDTJNJMedivation price target raised to $112 from $89 at Stifel
Subscribe for More Information
07:07 EDTHPQEMC to explore selling VMware stake, NY Post reports
Subscribe for More Information
September 10, 2014
16:00 EDTMRKOptions Update; September 10, 2014
Subscribe for More Information
10:14 EDTJNJJohnson & Johnson says off to 'very good start' this year
Subscribe for More Information
09:38 EDTXActive equity options trading on open
Subscribe for More Information
08:31 EDTHPQRiverbed names Mike Nefkens, Steffan Tomlinson to board of directors
Subscribe for More Information
September 9, 2014
14:04 EDTHPQHP price target raised to $43 from $40 at Argus
Subscribe for More Information
11:11 EDTCARAvis Budget management to meet with MKM Partners
Subscribe for More Information
07:17 EDTHPQThe Wireless Association to hold a conference
Subscribe for More Information
September 8, 2014
16:00 EDTMRKOptions Update; September 8, 2014
Subscribe for More Information
10:36 EDTCARHertz spikes higher as CEO Frissora resigns amid shareholder pressure
Subscribe for More Information
08:06 EDTUNHInsperity, UnitedHealth extend contract through 2017
Subscribe for More Information
1 | 2 | 3 | 4 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use