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Stock Market & Financial Investment News

News Breaks
May 27, 2014
16:27 EDTDRTX, PPC, BAC, PF, FRO, DYAX, HSHOn 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
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May 27, 2015
06:13 EDTFROFrontline upgraded to Equal Weight from Underweight at Morgan Stanley
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May 26, 2015
16:01 EDTBACOptions Update; May 26, 2015
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09:47 EDTBACActives on open:
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06:41 EDTBACJPMorgan, other banks close branches on border to avoid laundering, WSJ says
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May 22, 2015
09:34 EDTBACActive equity options trading on open
Active equity options trading on open: AAPL BABA AMZN FB MU BIDU SDRL BAC INTC EXPE CHK FEYE
May 21, 2015
16:00 EDTBACOptions Update; May 21, 2015
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May 20, 2015
16:00 EDTBACOptions Update; May 20, 2015
iPath S&P 500 VIX Short-Term Futures up 3c to 19.19. Option volume leaders: AAPL AAL YHOO DAL FB BABA UAL BAC TWTR LUV C TSLA GE MU
08:21 EDTBACATM data theft soars to highest rate in two decades, WSJ says
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May 19, 2015
18:01 EDTBACAflac names Matthew Owenby as Chief Human Resources Officer
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16:01 EDTBACOptions Update; May 19, 2015
iPath S&P 500 VIX Short-Term Futures down 27c to 19.17. Option volume leaders: AAPL BAC WMT MSFT FB TWTR MNKD NFLX T PBR
09:37 EDTBACActive equity options trading on open
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06:24 EDTBACU.S. Bancorp and Bank of America win dismissal of mortgage claims, Reuters says
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May 18, 2015
16:00 EDTBACOptions Update; May 18, 2015
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09:49 EDTFROEquity options with increasing volume
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09:46 EDTBACMPLX enters common unit sales agreement for up to $500M
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09:36 EDTBACActive equity options trading on open
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May 15, 2015
16:01 EDTBACOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
10:15 EDTBACBank of America reports April default rate 2.93% vs. 2.94% last month
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06:17 EDTBACBank of America CEO still struggles to move past financial crisis, WSJ reports
Five years into his job as Bank of America CEO, Brian Moynihan is still struggling to move past the financial crisis, which is testing his reputation as a "fixer" as well as the patients of investors who are concerned about his progress in turning the bank around, The Wall Street Journal reports. Reference Link
May 14, 2015
16:00 EDTBACOptions Update; May 14, 2015
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