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Stock Market & Financial Investment News

News Breaks
June 9, 2014
16:33 EDTFDO, HSH, ACHN, HITT, PPC, AAPL, MRK, CNSI, DG, TSN, GILD, IDIX, ADIOn The Fly: Closing Wrap
Stocks on Wall Street were slightly higher after a session that major averages spent mostly drifting just north of their starting points. The Dow and S&P 500 hit new highs once again despite the sluggish news flow, with the main news of the day being M&A stories that all hit either over the weekend or early this morning. ECONOMIC EVENTS: In the U.S., no significant economic data was reported. In China, data released over the weekend showed its trade surplus widened in May to $35.92B, as the nation's exports accelerated and its imports fell. COMPANY NEWS: Idenix Pharmaceuticals (IDIX) surged $16.56, or 229.05%, to $23.79 after pharmaceutical giant Merck (MRK) agreed to acquire the smaller drugmaker, which has valuable assets in the hepatitis C virus space, for $24.50 per share in cash. The deal, which values Idenix at about $3.85B, prompted analyst commentary that Achillion (ACHN), which is also developing HCV treatments, is an acquisition candidate and Achillion's shares finished up $1.37, or 47.57%, to $4.25. Shares of Gilead (GILD), which sells the drug, Sovaldi, that is widely seen as the current leader in the HCV space, fell $3.39, or 4.11%, to $79.00 following the news... Shares of a number of dollar store operators climbed after after well-known activist investor Carl Icahn disclosed that he had obtained a significant stake in one of the company in the space, Family Dollar (FDO), and subsequently told Fox Business that he may push for a merger between the company and peer Dollar General (DG)... Apple (AAPL) shares were in focus as its 7-for-1 stock split took effect. The newly split shares finished the day up $1.48, or 1.6%, at $93.70. MAJOR MOVERS: Among the notable gainers was Hittite Microwave (HITT), which surged $17.34, or 28.63%, to $77.90 after Analog Devices (ADI) agreed to acquire the company for $78 per share in cash. Shares of Analog Devices also gained $2.62, or 4.97%, to $55.31 following the news. Also higher was Hillshire Brands (HSH), which rose $3.14, or 5.33%, to $62.06 after Tyson Foods (TSN) increased its offer to acquire the company to $63 per share. Pilgrim's Pride (PPC), which was prompted to withdraw its own takeover proposal to Hillshire after Tyson raised its bid, fell $1.76, or 6.7%, to $24.51. Also lower were shares of Comverse (CNSI), which fell $2.13, or 8.53%, to $22.83 following the company's report of losses in its first quarter. INDEXES: The Dow was up 18.82, or 0.11%, to 16,943.10, the Nasdaq was up 12.31, or 0.28%, to 4,333.71, and the S&P 500 was up 1.83, or 0.09%, to 1,951.27.
News For IDIX;MRK;ACHN;GILD;AAPL;HSH;TSN;PPC;FDO;DG;HITT;ADI;CNSI From The Last 14 Days
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December 8, 2014
06:22 EDTAAPLApple price target raised to $135 from $120 at Citigroup
Citigroup raised its earnings estimates for Apple after its field work indicated consumers are increasingly buying the higher memory iPhone 6 and 6+. Citi expects purchasing trends towards higher memory devices to drive stronger sales and margins. It believes consensus estimates are yet to factor in this development. The firm raised its price target for Apple shares to $135 from $120 and keeps a Buy rating on the name. Shares of phone maker closed Friday down 49c to $115.
06:15 EDTAAPLLenovo shipments expected to lead Samsung by 9M in 2015, DigiTimes reports
Lenovo (LNVGY) is estimated to beat Samsung (SSNLF) in mobile device shipments in 2015 by about 9M units, reports DigiTimes Research. Lenovo is set to beat Samsung by about 1M units in 2014 and become the second largest mobile computing device brand vendor worldwide behind Apple (AAPL). DigiTimes Research says Lenovo and Samsung plan to focus on maintaining tablet shipments as demand weakens in 2015. Reference Link
06:12 EDTACHNStocks with implied volatility above IV index mean; LULU ACHN
Stocks with implied volatility above IV index mean; lululemon (LULU) 53, Achillion (ACHN) 216 according to iVolatility.
December 7, 2014
16:29 EDTMRKMerck in discussions to buy Cubist for $7B, Bloomberg reports
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12:58 EDTMRKMerck presents KEYTRUDA data at ASH
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December 5, 2014
13:16 EDTTSNTyson Foods to host investor meeting
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12:03 EDTFDO, DGFive Below plummets after Q4, FY14 outlooks trail analysts' estimates
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11:23 EDTAAPLOption volume leaders
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10:06 EDTACHNAchillion management to meet with JMP Securities
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10:03 EDTDG, FDOFamily Dollar sees Dollar General needing to divest over 3.4K stores, CNBC says
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10:00 EDTTSNOn The Fly: Analyst Upgrade Summary
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09:36 EDTAAPL, GILDActive equity options trading
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09:32 EDTPPCPilgrim's Pride downgraded to Hold from Buy at BB&T
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09:19 EDTFDO, DGDollar General says remains committed to purchase of Family Dollar
Dollar General Corporation (DG) issued the following statement in response to comments made by Dollar Tree (DLTR) regarding its view of potential store divestitures that may be required by the FTC in either a Dollar Tree/Family Dollar Stores (FDO) or a Dollar General/Family Dollar combination. Dollar General’s documents and data tell a very different story from that contained in the press release issued today by Dollar Tree. As Dollar General previously has stated, Walmart (WMT), not Family Dollar, is the primary driver regarding Dollar General’s strategic pricing decisions, and more than 90% of Dollar General’s SKUs are nationally priced. Dollar General is confident that its approach to strategic and pricing decisions is both correct and superior to that of Family Dollar and Dollar General has no intention of adopting a flawed strategy -- either now or after an acquisition of Family Dollar -- that it believes would impair its ability to compete with Walmart and lead to inferior financial performance. Dollar General is actively engaged in discussions with the FTC regarding the extent of potential divestitures that would be required in connection with an acquisition of Family Dollar and has been making good progress. Over the past few weeks, Dollar General has provided the FTC with tens of thousands of documents supporting the above facts and its broad view of competition. There is no reason to believe that the FTC would take into account only Family Dollar’s documents and data or afford them greater significance than Dollar General's own evidence. As stated in Dollar General's press release of December 4, Dollar General will continue to work with the FTC and expects to provide an update in sufficient time to allow Family Dollar shareholders to review such information prior to the Family Dollar shareholders’ meeting now scheduled for December 23.
07:45 EDTAAPLConsensus on Apple iPhone units could be low, says UBS
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07:37 EDTGILDGilead price target raised to $121 from $110 at JPMorgan
JPMorgan raised its price target for Gilead shares to $121 saying the company's potential cash flow generation is "immense" and provides "significant strategic flexibility." The firm estimates Gilead can generate more than $30B in cash in the next two years and $80B-plus over the next five years. It keeps an Overweight rating on the stock.
06:41 EDTAAPLApple questions validity of plaintiffs in iPod case, NY Times says
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06:40 EDTTSNTyson Foods upgraded to Conviction Buy from Buy at Goldman
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06:09 EDTFDO, DGDollar Tree provides update on FTC review of pending acquisition of Family Dolla
Dollar Tree (DLTR) announced that it was providing an update regarding the status of the FTC's review of its pending acquisition of Family Dollar (FDO). Dollar Tree and Family Dollar have been actively engaging with the staff of the FTC as they review the pending merger. The company said, "The staff of the FTC is very focused on the discount retail sector (including how Family Dollar’s current pricing rules would impact store prices in a merger transaction) and has indicated that some divestitures will be required for the Pending Merger, which we believe will be no more than our original commitment in the July 27, 2014, Merger Agreement. Dollar Tree will work diligently with the FTC staff over the next few weeks concerning divestitures. Given the relatively small number of divestitures our transaction implicates, Dollar Tree does not expect any such divestiture to have a material impact on its plans for the combined organization. Furthermore, we believe that we will be in a position to complete the financing for the Pending Merger in January 2015 and to complete the Pending Merger as early as February 2015... In connection with its unsolicited tender offer for Family Dollar, Dollar General (DG) continues to refuse to agree to a “hell-or-high-water” commitment. Based on the foregoing concerns regarding the Pending Merger, Dollar Tree believes that the FTC may require divestitures far in excess of the 1,500 stores that Dollar General has offered to divest in its tender offer for Family Dollar... The special meeting of Family Dollar shareholders to vote on the Pending Merger is currently scheduled for December 23, 2014. To facilitate the FTC’s continued review, and in light of the practicalities associated with the transaction, Dollar Tree and Family Dollar have agreed not to close the Pending Merger until January 30, 2015, unless the FTC completes its review of the Pending Merger and terminates the waiting period at an earlier date. Dollar Tree will continue to provide additional information as the special meeting date approaches."
06:03 EDTAAPLiOS mobile traffic shows iPhone 6 launch strong, says Piper Jaffray
Piper Jaffray says that according to Quantcast data, Apple's (AAPL) iOS mobile traffic share increased from 60.6% at iPhone 6 launch to 61.4% nine weeks after launch, while Google's (GOOG) Android decreased from 38.4% to 37.5% in the same period. Piper views the iOS mobile traffic share as further evidence that the iPhone 6 launch in the U.S. is off to a strong start. It keeps an Overweight rating on Apple shares with a $135 price target.
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