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News Breaks | | | | April 4, 2012 | | 12:10 EDT |  | IBM, GE, YHOO, PPO, GM, DDIC, VIAS, SNDK, WBMD | On The Fly: Mid-Day Wrap
Stocks on Wall Street were sharply lower at mid-day, as the slide that began after yesterday's release of the Federal Open Market Committee minutes deepened. The comments which sank the market revolved around the lack of additional stimulus unless the economy faltered, ruling out at least for the time being any semblance of further quantitative easing. Though Fed Chairman Bernanke said as much last month, the market reacted strongly late yesterday and again today after digesting the implications further. The economic data released today was generally in line with expectations but did little to improve the dour tone of the market... ECONOMIC EVENTS: In the U.S., ADP said the private sector added 209K jobs in March, just exceeding forecasts for the addition of 206K jobs. The ISM non-manufacturing index had a reading of 56.0, versus expectations for 56.8. Crude oil inventories built up by much more than expected, growing by 9M barrels. In Europe, Spain's bond yields rose following the country's first auction after its new austerity budget had been announced. Also, the European Central Bank left its benchmark rate unchanged at 1.0%... COMPANY NEWS: IBM (IBM) shares were downgraded to Neutral from Buy at Bank of America's Merrill Lynch, which cited valuation and limited earnings upside in the near-term, though the firm did raise its price target on the stock to $215 from $205... Moody's downgraded the debt ratings of General Electric (GE) and its finance unit, General Electric Capital Corporation... Yahoo! (YHOO) confirmed that it will cut about 2,000 jobs as part of a restructuring that its new CEO Scott Thompson said will result in a "smaller, nimbler, more profitable" company... MAJOR MOVERS: Among the notable gainers were Polypore (PPO), after William Blair said General Motor's (GM) decision to restart Volt production earlier than planned could be a positive for the battery component supplier, and DDi Corp. (DDIC), on news it will be acquired by Viasystems Group (VIAS) for $13 per share. Noteworthy losers included SanDisk (SNDK), after the company lowered its Q1 revenue guidance, and WebMD (WBMD), after the company said it expects to acquire about 5.77M shares of its common stock at a price of $26.00 per share pursuant to its completed modified "Dutch auction" tender offer... INDICES: Near noon, the Dow was down 145.95, or 1.11%, to 13,053.60; the Nasdaq was down 53.46, or 1.72%, to 3,060.11; and the S&P 500 was down 15.89, or 1.12%, to 1,397.49. | |
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News For IBM;GE;YHOO;PPO;GM;DDIC;VIAS;SNDK;WBMD From The Last 14 Days Check below for free stories on IBM;GE;YHOO;PPO;GM;DDIC;VIAS;SNDK;WBMD the last two weeks. |
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| May 21, 2013 | | 08:44 EDT |  | GE | Regulators to soon vote on non-banks, WSJ reports
 Subscribe for More Information | | | 08:03 EDT |  | YHOO | Yahoo price target raised to $30 from $27 at Oppenheimer
Subscribe for More Information | | | 07:32 EDT |  | GM | CTIA–The Wireless Association to host a conference
Subscribe for More Information | | | 06:17 EDT | | GM | Detroit automakers rebound as style sells, Bloomberg reports
Subscribe for More Information | | | 06:14 EDT |  | IBM | Stocks with implied volatility below IV index mean; IBM ARUN
Stocks with implied volatility below IV index mean; IBM (IBM), Aruba Networks (ARUN) according to IVolatility. | | | May 20, 2013 | | 17:49 EDT | | YHOO | Yahoo CEO announces new office in NY, 1TB of free space on Flickr, AllThingsD says
Yahoo CEO, Marissa Mayer and NYC Mayor Michael Bloomberg announced, in a joint press conference, that Yahoo has a new office in the old New York Times building in Times Square, reports AllThingsD. Mayer also announced that Flickr users will have a free terabyte of storage space, the website added. Reference Link | | | 16:22 EDT | | YHOO | On The Fly: Closing Wrap
Subscribe for More Information | | | 15:11 EDT | | GM | GM marketing push set for new pickups, Reuters says
Subscribe for More Information | | | 13:06 EDT | | YHOO | On The Fly: Midday Wrap
Stocks on Wall Street were modestly higher at midday as the Dow and S&P seek to continue their march higher after closing last week at record levels. ECONOMIC EVENTS: In the U.S., the light domestic economic calendar included the Chicago Fed National Activity index, which slipped to -0.53 for April from its prior reading of -0.23. In Asia, the Hang Seng and Shanghai Composite both climbed after Chinese home prices were reported to have risen in April. COMPANY NEWS: Yahoo (YHOO) confirmed it is buying social media platform Tumblr for $1.1B, as widely reported over the weekend, and promised "not to screw it up" in its press release to announce the deal... Actavis (ACT) agreed to acquire Warner Chilcott (WCRX) in a stock-for-stock transaction valued at approximately $8.5B. The deal, which was approved by the boards of both companies, equates to a value of $20.08 per Warner Chilcott share based on Actavis' closing share price on Friday, the companies said. MAJOR MOVERS: Among the notable gainers were some other companies with M&A news: Acquity Group (AQ) shares more than doubled after Accenture (ACN) agreed to buy the company for $13.00 per American Depositary Share, and Pactera Technology (PACT) gained 31% after receiving a non-binding proposal from a Blackstone (BX) affiliate to be taken private for $7.50 per ADS. Among the noteworthy losers was XenoPort (XNPT), which fell 11% after one of its drugs failed in a Phase III trial for multiple sclerosis spasticity. Also lower were shares of Red Hat (RHT), which slid 4% following a downgrade to Market Perform at BMO Capital. INDICES: Near 1 pm ET, the Dow was up 13.67, or 0.09%, to 15,368.07; the Nasdaq was up 1.13, or 0.03%, to 3,500.10; and the S&P 500 was up 2.18, or 0.13%, to 1,669.65. | | | 11:58 EDT | | SNDK | SanDisk, Attunity outlook bullish, Globes columnist writes
Subscribe for More Information | | | | 11:21 EDT | | YHOO | Yahoo acquisition a step in right direction, says Piper Jaffray
Piper views Yahoo's acquisition of Tumblr as a step in the right direction and one that could increase the company's top line growth from its current 1% estimate to 2% in 2013 and from 5% to 8% in 2014. However, Piper feels the deal is too small to materially change Yahoo's growth rate and continues to view the Alibaba IPO as the biggest part of the Yahoo story. The firm raised its price target for shares to $27 from $21 and keeps a Neutral rating on the name. | | | 10:11 EDT |  | SNDK | On The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: Artisan Partners (APAM) downgraded to Market Perform from Outperform at Keefe Bruyette... Bank of America (BAC) downgraded to Market Perform from Outperform at Keefe Bruyette... Bed Bath & Beyond (BBBY) downgraded to Hold from Buy at Jefferies... BlackRock (BLK) downgraded to Market Perform from Outperform at Keefe Bruyette... Cavium (CAVM) downgraded to Market Perform from Outperform at JMP Securities... Charles Schwab (SCHW) downgraded to Underperform from Market Perform at Keefe Bruyette... Dunkin' Brands (DNKN) downgraded to Neutral from Buy at Longbow... Equifax (EFX) downgraded to Neutral from Buy at Goldman... Leap Wireless (LEAP) downgraded to Sell from Hold at Deutsche Bank... Lowe's (LOW) downgraded to Perform from Outperform at Oppenheimer... MicroStrategy (MSTR) downgraded to Market Perform from Outperform at JMP Securities... NetApp (NTAP) downgraded to Underperform from Neutral at RW Baird... NeuStar (NSR) downgraded to Neutral from Buy at Goldman... Red Hat (RHT) downgraded to Market Perform from Outperform at BMO Capital... Ruby Tuesday (RT) downgraded to Market Perform from Outperform at Wells Fargo... Synovus (SNV) downgraded to Sell from Neutral at Goldman... TD Ameritrade (AMTD) downgraded to Underperform from Market Perform at Keefe Bruyette... Thoratec (THOR) downgraded to Neutral from Buy at Goldman... CF Industries (CF) downgraded to Hold from Buy at Miller Tabak... Children's Place (PLCE) downgraded at Susquehanna... CarMax (KMX) downgraded to Market Perform from Outperform at William Blair... SanDisk (SNDK) downgraded to Neutral from Buy at Nomura... Red Hat (RHT) downgraded at BMO Capital... Rex Energy (REXX) downgraded to Hold from Buy at Stifel... Range Resources (RRC) downgraded to Hold from Buy at Stifel... Kansas City Southern (KSU) downgraded to Sell from Hold at Stifel... Capella Education (CPLA) downgraded to Hold from Buy at Stifel. | | | 10:03 EDT | | YHOO | Yahoo hosted a conference call
Conference call was held to discuss the acquisition of Tumblr on May 20 at 9 am and has a replay available from 11 am on May 20 through May 26. Webcast Link | | | 09:26 EDT |  | YHOO | On The Fly: Pre-market Movers
Subscribe for More Information | | | 08:59 EDT | | GM | General Motors price target raised to $43 from $34 at Argus
Subscribe for More Information | | | 08:23 EDT |  | YHOO | Yahoo shares slip on Tumblr purchase, levels to watch
The shares are down just over 1% after the company agreed to purchase Tumblr in a deal valued at $1.1 billion. At the current share price of $26.25, next support is at $25.55. Resistance is at $26.66, a prior pivot high. | | | 08:03 EDT | | YHOO | Yahoo confirms plan to acquire Tumblr for $1.1B
Subscribe for More Information | | | 08:01 EDT | | YHOO | Yahoo confirms plan to acquire Tumblr for $1.1B
| | | 07:45 EDT | | YHOO | Yahoo Tumblr deal won't move needle strategically, says Stifel
Subscribe for More Information | | | 07:42 EDT | | IBM | Cohasset Associates to host a conference
National Conference on Managing Electronic Records is being held in Chicago on May 20-22. | | |
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