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Stock Market & Financial Investment News

News Breaks
May 27, 2014
12:43 EDTPPC, ARO, PF, S, WCG, HSH, NTLSOn The Fly: Midday Wrap
Stocks on Wall Street began the first session of the holiday shortened week in positive territory and have remained there throughout the morning. The averages found a level early in the session and have remained locked in a narrow range since, albeit at record levels for the Dow and S&P. 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), which sell packaged foods under brands including Hillshire Farm, Jimmy Dean, Ball Park, Van's Natural Foods, and Sara Lee, jumped 22% to trade over $45 per share after receiving an unsolicited $45 per share takeover proposal from chicken producer Pilgrim's Pride (PPC). Pilgrim's Pride shares rose 1.6% after it made its offer public, but shares of another company in the space, Pinnacle Foods (PF), sank nearly 7% as it had previously agreed to be acquired by Hillshire... In other M&A news, Pfizer (PFE) confirmed over the weekend that it does not intend to make an offer for AstraZeneca (AZN) after the U.K. drugmaker rejected Pfizer's final proposal to combine the two companies. MAJOR MOVERS: Among the notable gainers was apparel retailer Aeropostale (ARO), which rose 15% and was upgraded to Neutral from Underweight 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 WellCare (WCG), which rose more than 3.5% after an analyst at Leerink speculated that it may be an acquisition target for Ascension Health after the not-for-profit healthcare provider reportedly said last week that it is in talks to acquire an "unnamed insurance company that operates in 18 states." Among the noteworthy losers was NTELOS (NTLS), which fell nearly 8% after research firm Jefferies downgraded the stock and said NTELOS is much less likely to be acquired after the company struck a deal to remain the exclusive network provider for Sprint (S) in West Virginia and part of Virginia through 2022. INDEXES: Near midday, the Dow was up 55.45, or 0.33%, to 16,661.72, the Nasdaq was up 34.02, or 0.81%, to 4,219.83, and the S&P 500 was up 8.33, or 0.44%, to 1,908.86.
News For HSH;PF;PPC;WCG;ARO;NTLS;S From The Last 14 Days
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July 2, 2015
10:00 EDTSOn The Fly: Analyst Initiation Summary
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08:07 EDTAROAeropostale signs new licensing agreements in India and Indonesia
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07:57 EDTWCGKentucky Medicaid contracts in-line with expectations, says Leerink
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07:45 EDTWCGWellCare selected to continue serving Kentucky Medicaid Managed Care program
WellCare Health Plans announced that the Kentucky Cabinet for Health and Family Services selected WellCare of Kentucky to continue serving the Commonwealth's Medicaid Managed Care program in all eight of the program's regions. The new contract begins on July 1 and is for one year. It may be extended for four additional one-year renewals at the Commonwealth's discretion. As of March 31, WellCare serves approximately 441,000 Medicaid members, 6,000 Medicare Advantage plan members and 21,000 Medicare Prescription Drug Plan members in Kentucky.
05:29 EDTSSprint announces retail agreement with Dixons Carphone
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July 1, 2015
17:19 EDTSSprint initiated with a Neutral at Buckingham
Target $5.
10:02 EDTSSprint says reaches 4,500 stores
Sprint (S) said that it is rapidly expanding its retail distribution with its “store-within-a-store” concept at co-branded RadioShack (RSHCQ) locations. General Wireless Operations announced today that it completed the purchase of the RadioShack brand, securing Sprint’s ability to quickly expand its presence and give consumers access to industry-first leasing plans and the latest devices. Sprint will have a presence in 1,435 Sprint-RadioShack stores by the first week of July. About 300 stores will be completely renovated to the new store-within-a-store model at that time, with the remainder scheduled to be completed by the end of the year. These stores will have new signage, new fixtures and a look-and-feel that is similar to other Sprint-owned stores. The addition of the Sprint-RadioShack stores expands Sprint’s total retail footprint to approximately 4,500 locations in the United States.
06:04 EDTSSprint says to end 'throttling' practice
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June 30, 2015
09:04 EDTSSprint confirms 'All-In' pricing plan
Sprint introduces its “All-In” pricing plan, underscoring the company’s commitment to making wireless simpler, clearer and more straightforward for consumers. With All-In Wireless, consumers pay $80 per month for a wireless device and unlimited talk, text and high-speed data – the two most significant components on any wireless bill. With All-In, consumers pay $20 per month to lease one of its most popular smartphones, and $60 per month for unlimited text, talk and high-speed data while on the Sprint network. Consumers pay $0 down and only a one-time, $36 activation fee.
06:58 EDTSSprint to roll out $80 a month 'All-in' plan, Reuters reports
Sprint (S) will today launch an $80 a month "All-in" cellular phone plan, Reuters reports. Chief Marketing Officer Kevin Crull says the plan will offer unlimited talk, text and data at $60, plus $20 to lease phones like the iPhone 6 (AAPL) and Samsung (SSNLF) Galaxy S6. Reference Link
June 29, 2015
09:04 EDTSSprint launching Direct 2 You service in New York, LA, San Francisco, Denver
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June 26, 2015
09:16 EDTAROStephens encouraged by Aeropostale back-to-school show
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June 25, 2015
11:06 EDTWCGHospitals, insurers climb after Supreme Court rules on ACA subsidies
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10:11 EDTWCGACA tax subsidies upheld by Supreme Court
The decision of the Fourth Circuit was affirmed in King v. Burwell by a vote of 6 to 3, according to multiple media reports. The Supreme Court upholding the lower court ruling means that individuals who get health insurance through an exchange established by the federal government will be eligible for tax subsidies in all 50 states. Publicly traded companies in the health insurance space include Aetna (AET), Anthem (ANTM), Centene (CNC), Cigna (CI), Health Net (HNT), Humana (HUM), Molina Healthcare (MOH), UnitedHealth (UNH) and WellCare (WCG). Publicly traded companies in the hospital space include Community Health (CYH), HCA Holdings (HCA), LifePoint (LPNT), Tenet (THC) and Universal Health (UHS).
06:37 EDTSInternet Patents subsidiary awarded $30M in damages against Sprint Spectrum
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June 23, 2015
18:43 EDTSSprint CTO Stephen Bye to depart July 24, FierceWireless says
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18:00 EDTAROS&P announces changes to the S&P 400, 500, 600 indices
S&P Dow Jones Indices will make the following changes to the S&P 500, S&P MidCap 400 and S&P SmallCap 600 indices: Columbia Pipeline Group (CPGX) will replace Allegheny Technologies (ATI) in the S&P 500, Allegheny Technologies will replace Unit Corp. (UNT) in the S&P MidCap 400, and Unit Corp. will replace PetroQuest Energy (PQ) in the S&P SmallCap 600 after the close of trading on Wednesday, July 1. S&P 500 constituent NiSource (NI) is spinning off Columbia Pipeline Group in a transaction expected to be completed on that date. NiSource will remain in the S&P 500 following the distribution. Allegheny Technologies, Unit and PetroQuest are all ranked near or at the bottom of their current indices. S&P SmallCap 600 constituent Casey’s General Stores (CASY) will replace AOL (AOL) in the S&P MidCap 400, and Nektar Therapeutics (NKTR) will replace Casey’s General Stores in the S&P SmallCap 600 after the close of trading on Thursday, June 25. S&P 100 & 500 constituent Verizon (VZ) acquired AOL in a transaction completed today. TopBuild (BLD) will replace Aéropostale (ARO) in the S&P SmallCap 600 after the close of trading on Tuesday, June 30. S&P 500 constituent Masco (MAS) is spinning off TopBuild in a transaction expected to be completed on that date. Masco will remain in the S&P 500 following the distribution. Aéropostale is ranked near the bottom of the S&P SmallCap 600. “New” Gannett Co. (GCI) will replace Quiksilver (ZQK) in the S&P SmallCap 600 after the close of trading on Friday, June 26. S&P 500 constituent Gannett Co. (GCI) is spinning off “new” Gannett Co. in a transaction expected to be completed on that date. Post spin, the parent company will change its name to TEGNA. and trade under the symbol “TGNA”. It will remain in the S&P 500 following the distribution. Quiksilver is ranked near the bottom of the S&P SmallCap 600. Cable ONE Inc. (CABO) will replace Peabody Energy (BTU) in the S&P MidCap 400 after the close of trading on Tuesday, June 30. S&P MidCap 400 constituent Graham Holdings Company (GHC) is spinning off CableOne in a transaction expected to be completed on that date. Graham Holdings will remain in the S&P MidCap 400 following the distribution. Peabody Energy is ranked near the bottom of the S&P MidCap 400. The Chemours Co. (CC) will replace Semtech Corp. (SMTC) in the S&P MidCap 400, and Semtech will replace Paragon Offshore (PGN) in the S&P SmallCap 600 after the close of trading on Tuesday June 30. S&P 100 & 500 constituent E. I. du Pont de Nemours and Co. (DD) is spinning off Chemours in a transaction expected to be completed on that date. Dupont will remain in the S&P 100 & 500 following the distribution. Semtech and Paragon Offshore are ranked near or at the bottom of their current indices. “New “ Energizer Holdings (ENR) will replace Harsco (HSC) in the S&P MidCap 400, and Harsco will replace FXCM (FXCM) in the SmallCap 600 after the close of trading on Tuesday, June 30. S&P MidCap 400 constituent Energizer (ENR) is spinning off “new” Energizer in a transaction expected to be completed on that date. Post spin, the parent company will change its name to Edgewell Personal Care Co. and trade under the symbol “EPC”. It will remain in the S&P MidCap 400 following the distribution. Harsco and FXCM are ranked near or at the bottom of their current indices.
17:22 EDTAROTopBuild to replace Aeropostale in S&P 600 as of 6/30 close
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June 22, 2015
06:37 EDTWCGHealth insurers may change policies based on King v. Burwell ruling, NYT says
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