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Stock Market & Financial Investment News

News Breaks
January 22, 2014
09:05 EDTSNE, IACIElectus International signs multiple deals with SPT Networks Russia
Electus, an operating business of IAC (IACI), announced that its global distribution arm, Electus International, has signed multiple distribution deals with Sony (SNE) Pictures Television Networks Russia for its channels in the Commonwealth of Independent States and the Baltic States.
News For IACI;SNE From The Last 14 Days
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June 26, 2015
10:00 EDTIACIOn The Fly: Analyst Upgrade Summary
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09:18 EDTSNESirius XM discloses settlement agreement with various record companies
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08:10 EDTIACIIAC upgraded to Equal Weight from Underweight at Morgan Stanley
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08:01 EDTIACIIAC upgraded to Equal Weight from Underweight at Morgan Stanley
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05:51 EDTSNEFoxconn expects to be largest handset, tablet ODM/OEM in 2015, DigiTimes says
Foxconn Chairman Terry Guo said the company is set to be the largest OEM/ODM for handsets, tablets and desktops in 2015, reports DigiTimes. Guo added that Foxconn will establish component supply chains to increase its advantage over competitors. Reference Link
June 25, 2015
16:23 EDTIACIOn The Fly: Top stock stories for Thursday
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13:11 EDTIACIIAC price target raised to $96 from $86 at Benchmark Co.
Benchmark Co. raised its price target for IAC/InterActiveCorp to $96 after the company announced its intention to spin off the Match Group through an initial public offering. The firm says that while it would prefer a spinoff without Barry Diller maintaining control of Match, the move should ultimately unlock additional value. It keeps a Buy rating on IAC.
12:51 EDTIACIOn The Fly: Top stock stories at midday
Stocks on Wall Street opened higher but quickly gave up most of their gains as investors awaited news of a deal being reached between Greece and its creditors. The averages bounced back when the Supreme Court issued its ruling upholding ACA subsidies, sending a number of healthcare linked stocks higher. The market remained in positive ground near noon, but well off its best levels. ECONOMIC EVENTS: In the U.S., personal income rose 0.5% in May, matching the consensus expectation, while spending rose 0.9%, topping the expected 0.7% increase. Initial jobless claims were 271,000 in the week ended June 20, versus expectations for 273,000 first-time claims. Markit's services index fell to 54.8 for the flash June reading, versus expectations for a rise to 56.5 from the 56.2 May reading. The Kansas City Fed manufacturing survey for June came in at -9, as expected. COMPANY NEWS: Shares of hospital operators and health insurers rose after the Supreme Court upheld the legality of subsidies provided under the framework of the Affordable Care Act. The 6 to 3 decision in the Burwell versus King case means that the government can continue to offer subsidies to low income people who purchase health insurance plans on the federal exchange. The plaintiffs in the case had asked the court to strike down such subsidies, saying that the ACA had only allowed the government to subsidize insurance bought on exchanges created by states. In the wake of the ruling, which has been eagerly anticipated, Tenet Healthcare (THC) and Community Health (CYH) both rose more than 14%, while HCA Holdings (HCA) advanced nearly 9%. MAJOR MOVERS: Among the notable gainers was IAC/InterActiveCorp (IACI), which advanced 5% after announcing that its board has approved the pursuit of an initial public offering for The Match Group, which includes dating website Match.com and mobile dating app Tinder. IAC expects Match Group to issue less than 20% of its common stock in the IPO, which is seen being completed during the fourth quarter of this year. Also higher was Magnum Hunter (MHR), which gained 5% after disclosing that it has now determined to pursue the sale by the company of 100% of its current equity ownership interest in Eureka Hunter Holdings. Among the noteworthy losers was World Acceptance (WRLD), which dropped 19% after the company entered into an amendment with its lenders on its revolving credit agreement. FBR Capital downgraded the stock to Market Perform and cut its price target for shares to $73 from $98 afterward, saying restrictive covenants in the latest amendment means free cash flow will now be used to pay down debt rather than buy back stock. Also lower were shares of Cree (CREE), which fell about 11% after the company announced last night that it has decided to restructure its LED Products business to reduce excess capacity and overhead following recent market trends that have resulted in higher LED average selling price erosion than previously forecast. Cree also lowered its Q4 revenue view and issued FY16 revenue guidance that was below the consensus expectation. INDEXES: Near midday, the Dow was up 18.88, or 0.11%, to 17,984.95, the Nasdaq was up 5.87, or 0.11%, to 5,128.29, and the S&P 500 was up 2.18, or 0.1%, to 2,110.76.
09:08 EDTIACIOn The Fly: Pre-market Movers
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07:35 EDTIACIIAC announces intent to pursue IPO of The Match Group
IAC/InterActiveCorp announced that its board has approved the pursuit of an initial public offering of newly-issued shares of common stock of The Match Group. IAC also announced that Joey Levin, formerly CEO of its Search & Applications business, has been named CEO of IAC and joined its Board of Directors. Greg Blatt will remain Chairman, and Sam Yagan CEO, of The Match Group.
07:31 EDTIACIIAC to announce IPO of Match.com, CNBC reports
IAC will announce an IPO for Match.com, sources tell CNBC. Reference Link
07:18 EDTIACIIAC will announce IPO of Match.com, CNBC reports
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07:16 EDTIACIIAC will announce IPO of Match.com, CNBC reports
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June 24, 2015
10:36 EDTSNEElectronic Arts advances after analysts positive on E3 showing
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June 23, 2015
06:05 EDTSNENo clear prospects for PC component suppliers until July, DigiTimes reports
There are no clear business prospects for PC component suppliers until July, reports DigiTimes. According to sources in the supply chain, Intel's decision to delay the launch of its Skylake platform has weakened market demand for notebooks and other PC systems. The planned release of Microsoft (MSFT) Windows 10 may also affect the production of PC makers. Reference Link
June 22, 2015
09:51 EDTSNESony to launch 1-terabyte PlayStation 4 in July
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June 19, 2015
07:51 EDTSNEGameStop CFO says 'blown away' by Microsoft virtual reality demonstration
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June 18, 2015
19:04 EDTSNEMore documents from Sony cyber attack published on WikiLeaks, Re/Code says
WikiLeaks published 276,394 more documents stolen from Sony Pictures during the movie studio's cyber attack, reports Re/Code. Reference Link
June 16, 2015
16:44 EDTSNESony fails to have lawsuit from hacked former employees dismissed, Reuters says
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08:16 EDTSNESony June volatility at 31 into E3Expo.com as shares near four-year high
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