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Stock Market & Financial Investment News

News Breaks
April 18, 2012
12:11 EDTILMN, TXT, HAL, IBM, APH, URI, YHOO, RHHBY, CREE, STX, INTCOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday, as disappointment with the reports of two blue chip technology companies weighed on the market. Stock futures were slightly lower during the pre-market trading session, leading to a lower open for the broader market. The averages have struggled since the opening bell, with little in the way of economic data to distract investors from the latest round of earnings reports... ECONOMIC EVENTS: Domestically, the Mortgage Bankers Association reported mortgage applications were up 6.9% from a week earlier, driven by refinancing. Crude oil inventories grew more than expected, while gasoline and distillates inventories shrank more than analysts forecast... COMPANY NEWS: IBM (IBM), Intel (INTC) and Yahoo (YHOO) all reported earnings after the close yesterday that beat consensus expectations, but only Yahoo shares rallied following the announcements. The declines in IBM, which saw its revenues miss expectations and its shares fall 2.5%, and Intel, down 2% after its gross margins were worse than last quarter, weighed heavily on the Dow. In contrast, Yahoo gained 3% as its revenue grew for the first time since Q3 of 2008, as noted by Piper Jaffray... Among other companies reporting earnings, advancers included Halliburton (HAL), Seagate (STX) and United Rentals (URI); decliners included Textron (TXT), Cree (CREE) and Amphenol (APH)... MAJOR MOVERS: Among the notable gainers were Catalyst Health Solutions (CHSI), up 31%, and SXC Health Solutions (SXCI), up 7.5%, as both stocks benefited from plans to merge the companies in a cash and stock transaction that implies a purchase price of $81.02 per Catalyst share. Also higher were shares of THQ Inc. (THQI), up 36%, after the company raised its expectations for Q4 on strong sales of its "Saints Row" game. Noteworthy losers included Genworth (GNW), down 21%, after announcing it would delay the IPO of its Australian mortgage insurance business until early 2013, and Chesapeake Energy (CHK), down 10%, after Reuters reported that its CEO took out as much as $1.1B in unreported loans over the last three years which could raise the possibility of conflicts of interest. Also lower were shares of Illumina (ILMN), down 2.5%, after Roche (RHHBY) decided not to extend its $51 cash tender offer for the company... INDICES: Near noon, the Dow was down 47.34, or 0.36%, to 13,068.20; the Nasdaq was down 10.72, or 0.35%, to 3,032.10; and the S&P 500 was down 3.79, or 0.27%, to 1,386.99.
News For IBM;INTC;YHOO;HAL;STX;URI;TXT;CREE;APH;ILMN;RHHBY From The Last 14 Days
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May 18, 2015
07:27 EDTIBM, CREEJPMorgan to hold a conference
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07:06 EDTINTCAltera back in talks with Intel about potential takeover, NY Post says
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May 15, 2015
17:08 EDTYHOOSoros Fund gives quarterly update on stakes
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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 EDTURIAppaloosa Management gives quarterly update on stakes
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10:55 EDTURIJANA Partners gives quarterly update on stakes
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08:46 EDTYHOOMobile operators ad blocking plan sets up fight with Google, FT reports
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07:09 EDTHALHayman Capital gives quarterly update on stakes
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06:13 EDTINTCISS, Glass Lewis advise Intel investors to vote 'no' on eBay CEO, WSJ reports
ISS and Glass, Lewis & Co, two influential proxy advisory firms, are recommended Intel (INTC) investors vote against the reelection of eBay (EBAY) CEO John Donahoe to the company's board, The Wall Street Journal reports. Citing what it characterized as a poor attendance record, Glass Lewis commented "We view this as a failure by this director to fulfill a fundamental responsibility to represent shareholders at such meetings," while ISS said Donahoe "lacked a valid excuse" for attending less than 75% of the meetings held by the Intel board and committees he serves on in 2014. Intel's annual shareholders meeting is scheduled for May 21. Reference Link
May 14, 2015
16:00 EDTYHOOOptions Update; May 14, 2015
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09:22 EDTRHHBYLeerink pharma/biotech analysts hold an analyst/industry conference call
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06:15 EDTYHOOYahoo's head of sales leaves after six months, Digiday reports
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May 13, 2015
18:12 EDTRHHBYGenentech alectinib shrank tumors in about half of ALK-positive NSCLC patients
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17:04 EDTRHHBYGenentech announces interim results from POPLAR study
Genentech, a member of the Roche Group announced interim results from a global, randomized Phase II study, POPLAR, in people with previously treated non-small cell lung cancer, NSCLC. The study showed the investigational cancer immunotherapy MPDL3280A doubled the likelihood of survival; hazard ratio [HR]=0.47) in people whose cancer expressed the highest levels of PD-L1 compared with docetaxel chemotherapy. An improvement in survival was also observed in people who had medium and high or any level of PD-L1 expression, as characterized by a test being developed by Roche. MPDL3280A was generally well tolerated and adverse events were consistent with what has been previously reported for MPDL3280A in NSCLC. Updated results will be presented in an oral session at the 51st Annual Meeting of the American Society of Clinical Oncology. “In our study of MPDL3280A in previously treated lung cancer, the amount of PD-L1 expressed by a person’s cancer correlated with improvement in survival,” said Sandra Horning, M.D., chief medical officer and head of Global Product Development. “The goal of PD-L1 as a biomarker is to identify people most likely to experience improved overall survival with MPDL3280A alone, and which people may be appropriate candidates for a combination of medicines.”
10:18 EDTURIUnited Rentals backs FY15 revenue view $6B-$6.1B, consensus $6.04B
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09:03 EDTIBMIBM partners with Teleflora for large florists network
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07:32 EDTINTCCLSA to hold a conference
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07:08 EDTURIOppenheimer to hold a conference
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06:55 EDTYHOOInsiders speculate bidding war to erupt over AOL, Business Insider reports
The consensus speculation from investment bankers, hedge fund traders and people close to AOL (AOL) is that another company will emerge and offer a price for AOL that is higher than $50 per share, reports Business Insider. The potential suitors include Time Warner (TWX), Comcast (CMCSA), Yahoo (YHOO), Alibaba (BABA), Softbank (SFTBF), AT&T (T), Netflix (NFLX) and Apple (AAPL). Reference Link
06:09 EDTYHOOYahoo implied volatility of 22 at lower end of index mean range
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