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Stock Market & Financial Investment News

News Breaks
May 27, 2014
12:43 EDTHSH, PF, PPC, WCG, ARO, NTLS, SOn 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
Check below for free stories on HSH;PF;PPC;WCG;ARO;NTLS;S the last two weeks.
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July 25, 2014
10:52 EDTWCGWellCare issues largely company-specific, says UBS
UBS notes that aside from WellCare (WCG), which attributed its lowered guidance to the start-up of its Florida MMA program and other issues, that Centene (CNC), WellPoint (WLP), UnitedHealth (UNH) and Humana (HUM) are the leaders in Medicaid in the state. However, the firm believes a majority of WellCare's issues appear company specific and UBS views any weakness in UnitedHealth, WellPoint, Aetna (AET), or Cigna (CI) as opportunity to buy those four stocks, on all of which it has Buy ratings.
10:02 EDTWCGOn The Fly: Analyst Downgrade Summary
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09:25 EDTWCGOn The Fly: Pre-market Movers
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07:24 EDTWCGWellCare downgraded to Market Perform from Outperform at Wells Fargo
Wells Fargo downgraded WellCare to Market Perform citing less confidence in management and weaker than expected performance in the new Florida Medicaid business following the company's Q2 results. Wells lowered its price target range for shares to $54-$58 from $83-$89.
07:22 EDTWCGCentene downgraded to Market Perform from Outperform at Wells Fargo
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07:00 EDTWCGWellCare downgraded to Market Perform from Outperform at Raymond James
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06:40 EDTWCGWellCare downgraded to Market Perform from Outperform at Wells Fargo
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July 24, 2014
18:15 EDTWCGWellCare down 20% after Q2 earnings and lowering FY14 guidance
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18:13 EDTWCGWellCare lowers FY14 EPS guidance to $2.20-$2.50 from $4.40-$4.75
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18:09 EDTWCGWellCare reports Q2 adjusted EPS (7c), may not compare to consensus 90c
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10:37 EDTHSHOptions with increasing implied volatility: TLM IP HSH
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07:46 EDTSWells Fargo to hold a symposium
2014 Small Cell Symposium to be held in New York on July 24.
06:50 EDTWCGConsumers received $9B in refunds from health insurers, The Hill says
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July 23, 2014
13:01 EDTSSprint teams with Google to offer Google Apps for business
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July 22, 2014
13:46 EDTWCGCourt upholds Obamacare subsidies, NY Times says
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10:43 EDTWCGAppeals court bars subsidies in health care law
A three-judge panel of the D.C. Circuit Court of Appeals struck down part of President Obama's healthcare law by siding today with plaintiffs who argued that the law barred the government from giving subsidies to people in states that chose not to set up their own insurance marketplaces. The appeals court stated, "Because we conclude that the ACA unambiguously restricts the section 36B subsidy to insurance purchased on Exchanges 'established by the State,' we reverse the district court and vacate the IRSís regulation." Twenty-seven states decided against setting up marketplaces, and another nine states partially opted out, according to the Washington Post.
July 21, 2014
07:45 EDTSSprint consensus estimates 'overly optimistic,' says Jefferies
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July 20, 2014
14:47 EDTSAfter paring Mexican assets Carlos Slim may look at T-Mobile, WSJ says
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July 18, 2014
09:18 EDTSSoftbank hire of Arora from Google 'interesting,' says Wells Fargo
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07:08 EDTSSoftbank, T-Mobile final agreement could come after late August, Kyodo News says
According to Kyodo News, Softbank's (SFTBF) buyout talks with T-Mobile (TMUS) won't be settled until after late August. Deutsche Telecom (DTEGY) is "reluctant" to accept Softbank's business plan and is seeking a new plan, industry sources say. Reference Link
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