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Stock Market & Financial Investment News

News Breaks
January 23, 2013
16:30 EDTAGN, CREE, STRI, MAPP, HLF, MCP, COH, GOOG, FSLR, IBM On The Fly: Closing Wrap
Stocks on Wall Street were higher following better than expected earnings from tech giants IBM (IBM) and Google (GOOG). Near midday, the House voted to extend the debt limit until May 19, as expected, and the markets did not react to the news. Eyes on the Street are focused on this evening's report from Nasdaq's largest component, Apple (AAPL)... ECONOMIC EVENTS: In the U.S., the light economic calendar included the Home Price Index, which showed prices rose 0.6% in November, versus expectations for an increase of 0.7%. Also of note, the International Monetary Fund lowered its outlook for 2013 global output growth to 3.5% from 3.6%... COMPANY NEWS: IBM shares gained $8.64, or 4.41%, to $204.72 after its earnings report and guidance exceeded expectations. Google similarly reported earnings that beat consensus. A number of firms increased their price targets on shares, including Jefferies taking their target up to $875. Google advanced $38.63, or 5.5%, to $741.50 following its earnings report... Herbalife (HLF) was again in the news as Greenlight Capital's quarterly letter to investors made the rounds this afternoon. There was some speculation that the letter contained a veiled reference to a short position in Herbalife, however, The Wall Street Journal reported that Greenlight's David Einhorn told investors he does not currently have any bet on the stock. However, Einhorn admitted to profiting from a short position in Herbalife held in 2012 that has since been closed. Shares of Herbalife were down $1.13, or 2.56%, to $43.01 on the day... Among notable companies moving after reporting earnings were Cree (CREE), up $7.38, or 22.05%, to $40.85 after beating expectations, and Coach (COH), down $9.93, or 16.36%, to $50.75 after its earnings fell short of expectations and its Q4 SSS fell 2%... MAJOR MOVERS: Among notable gainers was MAP Pharmaceuticals (MAPP), which rose $9.13, or 58.6%, to $24.71 after it was announced last night that the company had agreed to be acquired by Allergan (AGN) for $25 per share. Allergan shares fell $1.10, or 1.04%, to $104.65 following the announcement. Among notable losers was Molycorp (MCP), which fell 95c, or 10.76%, to $7.88 after disclosing that the company sees Q4 and 1H13 production below expectations and shares were downgraded at Dahlman Rose. Also lower were shares of STR Holdings (STRI), down 79c, or 25.48%, to $2.31 after announcing last night that it expects to lose First Solar (FSLR) as a customer and shares were downgraded to Hold at Craig-Hallum... INDICES: The Dow was up 66.96, or 0.49%, to 13,779.17; the Nasdaq was up 10.49, or 0.33%, to 3,153.67; and the S&P 500 was up 2.22, or 0.15%, to 1,494.78.
News For IBM;GOOG;HLF;CREE;COH;MAPP;AGN;MCP;STRI;FSLR From The Last 14 Days
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May 19, 2015
09:51 EDTGOOGYelp early strength attributed to talk of buyout
The early move higher in shares of Yelp is being attributed to speculation that Google (GOOG) may have interest in acquiring the online review site. The Wall Street Journal on May 7 reported that Yelp has hired banks to explore a sale. Shares of the company are up $1.05 to $47.61 in early trading.
09:03 EDTIBMIBM and United Business Group partner to accelerate hybrid cloud adoption
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08:20 EDTGOOGVerizon CFO sees net phone additions in Q2
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07:34 EDTIBMIBM invests in WayBlazer and Sellpoints
IBM announced two new investments in WayBlazer and Sellpoints to advance online travel and shopping apps powered by Watson. The announcement is part of IBM's $100M commitment to drive new innovations and business solutions that build on Watson and follows the company's recent investments in Modernizing Medicine and Pathway Genomics. The financial terms of IBM's investments were not disclosed.
06:59 EDTGOOGYouTube Kids app receives complaints of 'inappropriate content', WSJ says
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May 18, 2015
13:41 EDTCREECree sees Franco Plastina becoming CEO of Power and RF business post-IPO
In a regulatory filing earlier, Cree reported that on May 5, its board of directors appointed Franco Plastina as the company’s interim EVP, Power & RF, effective June 8. The company additionally noted that it expects Plastina to serve as CEO of Cree Power & RF Division upon the completion of its previously announced initial public offering. Plastina is presently a member of the company’s board, on which he has served since December 2007. Since May 2012, Plastina has served as president and founder of Arc & Company, an advisory and angel investment firm.
12:12 EDTHLFHerbalife dips after FTC says to announce 'major consumer fraud' case
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11:47 EDTGOOGAmazon unlikely hurt by Google Buy button in next 3 years, says Piper Jaffray
Piper Jaffray analyst Gene Munster said he does not expect Google's (GOOG) addition of a "Buy" button for mobile e-commerce hurting Amazon.com (AMZN) over the next 1 to 3 years, but he does believe Google's plan presents a longer-term threat to "chip away" at Amazon's growth rate. However, Munster thinks it will be "next to impossible" for Google to replicate Amazon's core infrastructure and customer experience and he keeps an Overweight rating and $475 price target on Amazon shares.
08:35 EDTCREECree submits registration statement for IPO of Power and RF Business
Cree announced that Cree’s wholly owned Power and RF subsidiary has submitted a draft registration statement on a confidential basis to the SEC for a potential initial public offering of the subsidiary’s class A common stock. The type and number of shares of stock to be sold and the price range for the proposed initial public offering has not yet been determined, although Cree intends to remain the majority stockholder of the subsidiary post offering. The initial public offering is expected to commence after the SEC completes its review process, subject to market and other conditions. The Power and RF subsidiary is raising capital to invest directly in the business to support targeted future growth. The offering would enable Cree management to focus on Cree’s LED and Lighting businesses, while also creating a dedicated focus on the Power and RF business. The company believes that this transaction should allow Cree shareholders to better realize the full value of both businesses, the company said.
08:22 EDTGOOGVerizon deal has multiple positive catalysts, says Wells Fargo
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07:59 EDTGOOGGoogle Buy button a natural fit for mobile shopping listings, says Baird
Baird noted Google added a Buy button to accompany mobile product listings and believes it will improve the company's e-commerce search competitiveness. Baird reiterated its Outperform rating and $690 price target on Google shares.
07:27 EDTCREE, IBMJPMorgan to hold a conference
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May 17, 2015
18:56 EDTGOOGGoogle to feature 'buy' button in sponsored search results, WSJ says
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16:50 EDTGOOGWhite House wavers on backing Google, Oracle in copyright suit, Reuters says
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May 15, 2015
16:32 EDTIBMBerkshire Hathaway gives quarterly update on stakes
NEW STAKES: None. INCREASED STAKES: IBM (IBM), Precision Castparts (PCP), Wells Fargo (WFC), Phillips 66 (PSX), and US Bancorp (USB). DECREASED STAKES: National Oilwell Varco (NOV), Viacom (VIAB), Bank of New York Mellon (BK), MasterCard (MA), and Visa (V). LIQUIDATED STAKES: None.
16:28 EDTGOOGAppaloosa Management gives quarterly update on stakes
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10:29 EDTAGNAmerican Urological Association to hold an annual meeting
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08:46 EDTGOOGMobile operators ad blocking plan sets up fight with Google, FT reports
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07:22 EDTGOOGGoogle's self-driving cars to roll out in California this summer, Re/code says
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06:24 EDTGOOGGoogle Glass team may be focusing on multiple wearable products, BI reports
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