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Stock Market & Financial Investment News

News Breaks
May 27, 2014
12:43 EDTS, WCG, HSH, NTLS, PPC, ARO, PFOn 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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December 19, 2014
07:15 EDTWCGWellCare identified as favorite mid-cap stock for 2015 at Stifel
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December 18, 2014
08:18 EDTSSprint Chief Network Officer says 2014 network milestones met
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December 17, 2014
10:51 EDTWCGLeerink healthcare services analyst holds analyst/industry conference call
Healthcare Services Analyst Gupte provides outlook and favorite names for 2015 in the Hospitals and Managed Care Industry on an Analyst/Industry conference call to be held on December 18 at 1 pm.
December 16, 2014
14:11 EDTSSprint may face $105M FCC fine over billing, Bloomberg reports
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13:31 EDTSSprint to conclude NASCAR partnership after 2016 season
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08:50 EDTWCGWellCare appoints Blair Todt as Chief Legal and Administrative Officer
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December 15, 2014
16:02 EDTWCGWellCare names current COO Kenneth Burdick as CEO
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December 10, 2014
14:45 EDTWCGDeal would block payments to health insurance companies, The Hill says
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12:06 EDTPPCUSDA lowers 2014 meat production forecast
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10:24 EDTSSprint retreats after Oppenheimer cuts rating to Underperform amid price war
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10:00 EDTSOn The Fly: Analyst Downgrade Summary
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09:12 EDTSRadioShack threatens bankruptcy if cell phone deals not reworked, NY Post says
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07:58 EDTSSprint downgraded to Underperform from Perform at Oppenheimer
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07:53 EDTNTLSUBS to hold a conference
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06:33 EDTNTLSNTELOS sees long term consolidated revenue growth to be in low single digits
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06:32 EDTNTLSNTELOS sees FY15 adjusted EBITDA $100M-$108M
Sees FY15 CapEx expected to be modestly less than adjusted EBITDA. The company says 2015 change driven by exit in East and SNA reset. Expected contribution from Western markets is unchanged. Pro Forma for FY15 cost savings run rate adjusted 2015 EBITDA would be $111M-$119M. FY15 inflows expected to exceed outflows.
06:31 EDTNTLSNTELOS sees FY14 adjusted EBITDA of $128M-$132M
Sees FY14 CapEx of approximately $105M
06:30 EDTNTLSNTELOS sees long term adjusted EBITDA margin of 30%-35%
Sees long term adjusted EBITDA less CapEx margin of 20%. Cost rationalization reflecting Eastern Markets wind down will reduce annual expense by $20M. Expects to be achieved on a run rate basis by the end of 2015. Targets material market share improvements in the Western Markets. Comments taken from slides for December Investor Presentation
December 9, 2014
10:28 EDTSVerizon drops after warning about promotional impact on profits
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December 8, 2014
14:56 EDTSMDC Partners climbs for third day after making announcement on CRM unit
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