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Stock Market & Financial Investment News

News Breaks
August 12, 2014
12:37 EDTTRAK, NUAN, KATE, DNDN, ICPTOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday in a lackluster session marked by few major headlines. The market is drifting in a fairly narrow range, but the major averages have stayed mostly in negative ground through the early hours of the trading day. ECONOMIC EVENTS: In the U.S., the NFIB's small business confidence index rose 0.7% to 95.7 in July, though that was below the expectation for a 96.0 reading. The Job Openings and Labor Turnover Survey showed job openings rose 94K to 4.671M in June. In Germany, the ZEW Center's economic sentiment index fell to 8.6 in August from 27.1 in July, compared to the consensus forecast for a decrease to 17. COMPANY NEWS: Shares of accessory and clothing retailer Kate Spade (KATE) initially advanced in pre-market trading and were higher early in the session after the company reported second quarter adjusted earnings per share and sales that beat analysts' consensus forecast. However, the stock reversed and moved into negative territory during the company's associated conference call, during which it said it was "responsible to reevaluate the timeframe" to achieve its previously laid out targets for 2016, citing a longer than expected Kate Spade Saturday ramp-up, its revised 2014 margin rate outlook, and the company's limited visibility into 2016. Near noon, the stock was down nearly 20%. MAJOR MOVERS: Among the notable gainers was drug developer Intercept Pharmaceuticals (ICPT), which jumped 26% after data from a trial of its liver disease drug OCA showed improved safety as well as a statistical benefit in reversing liver fibrosis. Also higher was DealerTrack (TRAK), which rose 18% after the company reported higher than expected second quarter earnings and raised its 2014 EPS outlook. Among the noteworthy losers was Dendreon (DNDN), which dropped 36% after reporting its Q2 revenue in a regulatory filing and disclosing the company sees a "significant risk" that it will not be able to repay or refinance its 2016 Notes. The company also acknowledged it is currently considering alternatives to the repayment of the 2016 Notes, some of which could result in leaving its current stockholders "with little or no financial ownership of Dendreon." Also lower were shares of voice and language solutions provider Nuance (NUAN), which fell 10% after reporting on its third quarter results and providing fourth quarter guidance that missed analysts' consensus expectation. INDEXES: Near midday, the Dow was down 30.46, or 0.18%, to 16,539.52, the Nasdaq was down 15.02, or 0.34%, to 4,386.31, and the S&P 500 was down 4.50, or 0.23%, to 1,932.42.
News For ICPT;KATE;TRAK;DNDN;NUAN From The Last 14 Days
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December 18, 2014
11:56 EDTTRAKDealerTrack acquisition should be positive for shares, says JPMorgan
JPMorgan believes DealerTrack's acquisition of Incadea PLC will be a positive for the company's growth profile and potential addressable market over a five-year timeframe. The firm expects the company's second "transformational" acquisition in as many years to be positive the stock and reiterates an Overweight rating on DealerTrack.
09:35 EDTKATEKate Spade Saturday, West Elm to team on home collection
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07:53 EDTTRAKDealerTrack to host conference call
Conference call to discuss the acquisition of International incadea plc will be held on December 18 at 8:30 am. Webcast Link
07:10 EDTTRAKDealerTrack announces 190p per share offer to acquire incadea plc
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06:33 EDTICPTIntercept coverage resumed with a Buy at Sterne Agee
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December 16, 2014
10:12 EDTKATEKate Spade initiated with an Outperform at Cowen
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December 15, 2014
08:58 EDTICPTIntercept reinstated with a Buy at BofA/Merrill
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December 12, 2014
14:24 EDTNUANNuance management to meet with Wedbush
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December 11, 2014
08:57 EDTICPTLeerink major pharma & biotech analysts hold analyst/industry conference call
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December 9, 2014
10:23 EDTKATEOn The Fly: Analyst Initiation Summary
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07:41 EDTTRAKBarclays to hold a conference
Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 9 at 10:40 am; not all company presentations may be webcasted. Webcast Link
06:53 EDTKATEKate Spade initiated with an Equal Weight at Stephens
Target $33.
December 5, 2014
06:06 EDTICPTIntercept announces publication of meta-analysis from Global PBC Study Group
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