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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
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September 30, 2014
07:53 EDTSAnalysts see AT&T with early lead over Verizon in connected cars, Reuters says
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September 29, 2014
12:18 EDTSOn The Fly: Midday Wrap
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10:32 EDTSDreamWorks jumps after report of Softbank takeover talks
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September 26, 2014
05:50 EDTSStocks with implied volatility movement; TMUS S
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September 24, 2014
06:45 EDTWCGGovernment says more health insurers to enter exchanges in 2015, NY Times says
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September 22, 2014
07:40 EDTWCGWellCare Medicare Advantage margin outlook concerning, says Wedbush
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September 19, 2014
16:06 EDTPFLevin Capital Strategies reports 6.9% passive stake in Pinnacle Foods
07:36 EDTSSprint price target cut to $8-$10 from $11-$11.75 at Wells Fargo
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06:49 EDTWCGGovernment says 7.3M in private Obamacare plans, NY Times reports
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September 17, 2014
12:53 EDTSSprint management to meet with Jefferies
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11:11 EDTPFGeneral Mills crumbles after earnings miss, downgrade
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