New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
May 27, 2014
16:27 EDTHSH, PF, PPC, DYAX, BAC, DRTX, FROOn The Fly: Closing Wrap
Stocks on Wall Street were higher as investors returned from their holiday weekend. The major averages were higher from the outset of the trading day and most of the market action happened shortly after the opening bell. By mid-morning the averages found a level and settled into a narrow trading range for the remainder of the session. The Nasdaq was the clear leader as it tacked on gains of more than 1%. Though the Dow and S&P 500 rose more modestly, both closed at new record levels. ECONOMIC EVENTS: In the U.S., durable orders rose 0.8% in April, beating expectations for them to have fallen 0.7% in the month. The Case Shiller 20-city home price index rose 1.2% in March, which was more than expected. Markit's flash services PMI climbed to 58.4 in May from 55.0 in April. The Richmond Fed manufacturing index for May held at 7 for a second straight month. A reading of consumer confidence improved to 83.0 in May, as expected, after slipping to 81.7 last month. COMPANY NEWS: Shares of Hillshire Brands (HSH) surged $8.17, or 22.07%, to $45.19 after receiving an unsolicited $45 per share takeover proposal from chicken producer Pilgrim's Pride (PPC). Pilgrim's Pride shares rose 42c, or 1.67%, to $25.52 after it made its offer public. However, Pinnacle Foods (PF) sank $1.79, or 5.38%, to $31.48, as it had previously agreed to be acquired by Hillshire and the new bid from Pilgrim's Pride potentially puts that deal in doubt... Shares of Bank of America (BAC) gained 50c, or 3.4%, to $15.22 after it disclosed that it has resubmitted its requested capital actions to the Federal Reserve. As previously announced, the requested capital actions contained in the resubmission are less than the 2014 capital actions to which the Fed previously did not object. MAJOR MOVERS: Among the notable gainers was apparel retailer Aeropostale (ARO), which rose 51c, or 14.96%, to $3.92 and was upgraded to Neutral at Piper Jaffray after entering into definitive agreements with respect to its previously announced strategic partnership and $150M credit facilities with Sycamore Partners. Also higher was Dyax (DYAX), which jumped $1.81, or 27.42%, to $8.41 after another drug company, BioCryst (BCRX), reported positive data on its inherited angioedema treatment. In a note to investors earlier today, research firm Jefferies wrote that BioCryst's data bodes well for Dyax's own hereditary angioedema treatment. BioCryst shares also gained 98c, or 10.94%, to close at $9.99, but the stock was off about 1% in after-hours trading after the company filed to sell $100M in common stock. Among the noteworthy losers was Durata Therapeutics (DRTX), which fell $1.84, or 10.89%, to $15.05, giving back all of the 5.5% increase the stock saw last Friday after the FDA announced late in the day that it approved the company's Dalvance drug for the treatment of certain acute bacterial skin and skin structure infections. Also lower were shares of shipping company Frontline (FRO), which fell 47c, or 16.43%, to $2.39 after reporting on its first quarter results and warning that it sees weaker operational result to come in the current quarter. INDEXES: The Dow was up 69.23, or 0.42%, to 16,675.50, the Nasdaq was up 51.26, or 1.22%, to 4,237.07, and the S&P 500 was up 11.38, or 0.6%, to 1,911.91.
News For HSH;PF;PPC;DYAX;BAC;DRTX;FRO From The Last 14 Days
Check below for free stories on HSH;PF;PPC;DYAX;BAC;DRTX;FRO the last two weeks.
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
August 22, 2014
07:42 EDTBACBank of America DOJ settlment removes a major overhang, says Morgan Stanley
Morgan Stanley lowered Bank of America's Q3 EPS estimate to (4c) from 34c based on the DOJ settlement and said it removes a major overhang. The firm views shares as cheap and expects the stock to rally as expenses continue to declines. Shares are Overweight rated with a $22 price target.
August 21, 2014
15:37 EDTBACBank of America reiterated as an Overweight at Morgan Stanley
Subscribe for More Information
15:25 EDTBACBank of America rallies following DOJ/State AGs settlement news
Subscribe for More Information
10:34 EDTBACOptions Update; August 21, 2014
Subscribe for More Information
09:37 EDTBACActive equity options trading on open
Subscribe for More Information
09:20 EDTBACBank of America volatility expected to move on $16.65B settlement with DOJ
Bank of America volatility is expected to move on paying a $16.65B settlement with DOJ. Overall option implied volatility of 21 is below its 26-week average of 23 according to Track Data, suggesting decreasing price movement.
09:11 EDTBACSEC says Bank of America settles two cases
Subscribe for More Information
09:09 EDTBACBofA settlement to reduce Q3 pre-tax earnings by approx. 43c per share after tax
Subscribe for More Information
09:09 EDTBACBofA to pay $9.65B in cash, $7B worth of consumer relief in settlement
Borrower relief will be in the form of mortgage modifications, including first-lien principal and forbearance forgiveness and second-lien extinguishments, low- to moderate-income mortgage originations, and community reinvestment and neighborhood stabilization efforts, with initiatives focused on communities experiencing, or at risk of, urban blight. This includes lien releases, uninhabitable and abandoned property demolition, and remediation and property donations. Also, Bank of America will support the expansion of available affordable rental housing. Bank of America has committed to complete delivery of the relief by no later than August 31, 2018. The consumer relief will be subject to oversight by an independent monitor.
09:07 EDTBACBofA to pay $16.65B in settlement with DOJ, state AGs
Subscribe for More Information
09:03 EDTBACBank of America to pay $16.65B in settlement with DOJ, Bloomberg reports
08:41 EDTBACBank of America, DOJ settlement to be announced today, CNBC reports
Subscribe for More Information
06:43 EDTBACRegulators up bank warning efforts for poor risk assessment, Reuters says
Subscribe for More Information
August 20, 2014
18:29 EDTBACBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
Subscribe for More Information
17:12 EDTBACOn The Fly: Closing Wrap
Subscribe for More Information
14:35 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
Bank of America along with federal and state authorities agreed upon a $17B settlement for the bank in connection with the sale of mortgage-backed securities in the run-up to the 2008 financial crisis, says AP. Reference Link
14:20 EDTBACBofA reaches $17B settlement over mortgage backed securities sales, AP says
08:38 EDTBACRevolution Lighting enters loan, security agreement with BofA
Revolution Lighting (RVLT) announced that it has entered into a three year loan and security agreement with Bank of America (BAC). The agreement allows Revolution Lighting to borrow up to $25M on a revolving basis. Borrowings under the agreement are determined on specified percentages of eligible receivables and inventory, and bear interest either on the base rate plus specified margins or at LIBOR plus specified margins, at the election of Revolution Lighting. The loan provides Revolution Lighting with favorable interest rates with an initial interest rate of 3%. The agreement contains customary covenants and restrictions typical of these agreements.
August 19, 2014
18:19 EDTHSHTyson, Hillshire announce extension of tender offer for shares of Hillshire
Subscribe for More Information
06:20 EDTBACBofA COO transfers, senior manager assumes role, Bloomberg says
Subscribe for More Information
1 | 2 | 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