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Stock Market & Financial Investment News

News Breaks
June 9, 2014
16:33 EDTHITT, PPC, AAPL, MRK, CNSI, DG, TSN, GILD, IDIX, ADI, FDO, HSH, ACHNOn 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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August 20, 2015
10:22 EDTAAPLApple falls, levels to watch
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10:00 EDTADIOn The Fly: Analyst Downgrade Summary
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09:36 EDTAAPLActive equity options trading on open
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08:45 EDTAAPLApple iPhone 6S may not pressure gross margins, says Bernstein
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08:38 EDTMRKMerck says to present new analyses from IMPROVE-IT study
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07:35 EDTADIAnalog Devices downgraded to Reduce from Neutral at Nomura
As previously reported, Nomura downgraded Analog Devices (ADI) to Reduce from Neutral. The firm expects consumer revenues to increase to 30% in the October quarter, up from 12% one year ago, driven by Apple (AAPL). The firm believes Apple's contribution isn't worth more than 8-10x earnings or $10 per share, suggesting that at $59, the core business is trading at 22x earnings, suggesting shares are overvalued versus the group that has a multiple of 19x.
06:13 EDTAAPLApple's Australian bonds raise $1.2B within two hours, SMH reports
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06:07 EDTAAPLApple's 12.9-inch iPad to feature displays from Sharp, DigiTimes reports
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06:02 EDTADIAnalog Devices downgraded to Reduce from Neutral at Nomura
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August 19, 2015
19:13 EDTAAPLSamsung to ask Supreme Court to review Apple patent ruling
Samsung (SSNLF) has filed court documents indicating it will ask the U.S. Supreme Court to hear an appeal of its Apple (AAPL) patent fight. Reference Link
17:44 EDTAAPLApple iPhone 6s to feature stronger metal body, MacRumors says
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16:00 EDTAAPLOptions Update; August 19, 2015
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11:14 EDTAAPLApple to open first Middle East store this year, Bloomberg reports
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10:00 EDTADIOn The Fly: Analyst Upgrade Summary
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09:33 EDTAAPLActive equity options trading on open
Active equity options trading on open: AAPL BAC FB BA TWTR NFLX WMT BABA
09:25 EDTPPCBB&T to hold a conference
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09:19 EDTADIOn The Fly: Pre-market Movers
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07:52 EDTAAPL, ADIAnalog Devices growth being driven by Apple, says Jefferies
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06:58 EDTADIAnalog Devices upgraded to Buy from Neutral at SunTrust
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06:35 EDTAAPLApple Stores to shift iPod stock to shelves, drop iPad smart signs, 9to5Mac says
Apple plans to make changes at its stores by relocating iPod stock to accessory shelves and removing iPad-based Smart Signs, 9to5Mac reports, citing several Apple Retail managers briefed on the plans. Apple will start to roll out these changes overnight on Tuesday of next week in the U.S., the report says. Reference Link
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