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Stock Market & Financial Investment News

News Breaks
June 9, 2014
12:42 EDTERIC, NSR, DG, FDO, PF, PPC, TSN, HSH, GILD, ACHN, MRK, IDIXOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday, pushing the S&P 500 and the Dow Jones Industrial Average toward new milestone levels. The market began the session just slightly below the flat-line, but within minutes had moved into positive territory where it has remained all morning. The averages have moved in a very narrow range, but the slow drift higher has the Dow within striking distance of 17,000 and the S&P edging closer to 2,000. ECONOMIC EVENTS: In the U.S., no significant economic data was reported. In Asia, data released over the weekend showed that China's trade surplus widened in May to $35.92B, as the nation's exports accelerated more than forecast and imports fell more than expected. COMPANY NEWS: Shares of several companies that have developed hepatitis C, or HCV, treatments were active after one such company, Idenix (IDIX), agreed to be acquired by pharmaceutical giant Merck (MRK) for $24.50 per share in cash. The purchase price is more than triple the company's closing price on Friday and Idenix shares rose more than 230% to trade near $24.09 after the announcement. Shares of Achillion Pharmaceuticals (ACHN), which has developed its own HCV drugs, were up 40% as investors speculate it could be the next takeover target in the space, while shares of Gilead (GILD) fell about 4% after an analyst wrote that Merck bought Idenix partly to strengthen its hand in patent litigation against Gilead... Food processor and distributor Hillshire Brands (HSH) advanced another 5% after Tyson Foods (TSN) increased its offer to acquire the company to $63 per share, prompting rival Pilgrim's Pride (PPC) to withdraw its own takeover proposal. However, Tyson's new offer is still subject to Hillshire being released from its existing agreement to acquire Pinnacle Foods (PF) and Hillshire said it does not have the right to break its merger pact with Pinnacle on the basis of the Tyson offer or enter into an agreement with Tyson prior to the termination. MAJOR MOVERS: Among the notable gainers was Family Dollar (FDO), which climbed 14% after well-known activist investor Carl Icahn disclosed that he had obtained a significant stake in the company. Also higher were shares of peer Dollar General (DG), which gained nearly 10% after Icahn reportedly told Fox Business that he may push for a merger between the two dollar store operators. Among the noteworthy losers was Neustar (NSR), which dropped 7.5% after acknowledging a copy of a confidential email was posted in the FCC docket and made available to the public. Deutsche Bank noted that shares of NeuStar traded down just before the close on Friday after the posting, which suggested the North American Numbering Council has recommended selecting iConectiv, the Telcordia unit of Ericsson (ERIC), as the vendor for the Number Portability Administration Center in place of incumbent Neustar. INDEXES: Near midday, the Dow was up 31.57, or 0.19%, to 16,955.85, the Nasdaq was up 22.30, or 0.52%, to 4,343.70, and the S&P 500 was up 3.92, or 0.2%, to 1,953.36.
News For IDIX;MRK;ACHN;GILD;HSH;TSN;PPC;PF;FDO;DG;NSR;ERIC From The Last 14 Days
Check below for free stories on IDIX;MRK;ACHN;GILD;HSH;TSN;PPC;PF;FDO;DG;NSR;ERIC the last two weeks.
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August 18, 2014
11:53 EDTDG, FDOFamily Dollar likely to favor a Dollar Tree bid, says Wells Fargo
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10:01 EDTDG, ACHNOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Buy from Hold at Deutsche Bank... CNOOC (CEO) upgraded to Neutral from Underperform at Credit Suisse... Dollar General (DG) upgraded to Buy from Neutral at Sterne Agee... Equity Residential (EQR) upgraded to Hold from Underperform at Jefferies... HMS Holdings (HMSY) upgraded to Overweight from Equal Weight at First Analysis... HP (HPQ) upgraded to Buy from Neutral at Monness Crespi... Halcon Resources (HK) upgraded to Buy from Hold at MLV & Co.... KapStone (KS) upgraded to Buy from Hold at Deutsche Bank... Sportsman's Warehouse (SPWH) upgraded at RW Baird... Westlake Chemical (WLK) upgraded to Neutral from Reduce at SunTrust... WisdomTree (WETF) upgraded to Neutral from Sell at Citigroup... Zimmer (ZMH) upgraded to Outperform from Market Perform at William Blair.
09:56 EDTDGDollar General upgraded to Outperform from Neutral at Credit Suisse
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09:47 EDTDGDollar General upgraded to Buy from Hold at Deutsche Bank
Price target is $69.
09:35 EDTGILD, DGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
09:23 EDTDGDollar General upgraded to Buy from Neutral at Sterne Agee
09:03 EDTFDO, DG, ACHNOn The Fly: Pre-market Movers
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08:47 EDTDG, FDODollar General says would slow store opening growth in Family Dollar deal
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08:35 EDTDG, FDODollar General says emphasis is getting deal 'put to bed'
Says when deal gets done, "Family Dollar (FDO) will look exactly like Dollar General inside." Says is a "huge fan" of Todd Vasos, who would lead the integration, but does not comment on whether Vasos will succeed Dollar General (DG) CEO Rick Dreiling, who will retire in May 2016. Doesn't see antitrust issues as "insurmountable."
08:23 EDTDG, FDODollar General says has expressed interest in Family Dollar 'multiple times'
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08:18 EDTFDO, DGDollar General says can mange Family Dollar 'more efficiently and effectively'
Dollar General (DG) says it believes its proposal "far superior" for Family Dollar (FDO) shareholders. Believes company can manage Family Dollar "more efficiently and effectively." Sees approximately $300M-$400M in one-time costs to capture synergies. Sees investment of $400M in CapEx. Says proposed deal would be low double digit percentage accretive in year one, ex-integration and transformation costs. Dollar General notes commitment to return to investment grade credit profile, anticipated three years post closing. Says positioned for long term revenue and earnings growth. Says ready to move to complete due diligence on Family Dollar deal. Says synergies expected to ramp up throughout three-year period. Comments made on Dollar General's conference call discussing its acquisition proposal of Family Dollar for $78.50 per share.
07:57 EDTMRKCambridge Healthtech Institute to hold a summit
6th Annual Bioprocessing Summit to be held in Boston on August 18-22.
07:28 EDTACHNAchillion upgraded to Buy from Hold at Deutsche Bank
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06:39 EDTERICHrvatski Telekom selects Ericsson for 5-year managed services contract
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06:27 EDTDG, FDODollar General to host conference call
Conference call to discuss acquisition proposal of Family Dollar will be held on August 18 at 8 am. Webcast Link
06:24 EDTFDO, DGOptions expected to be active
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06:13 EDTFDO, DGDollar General makes proposal to acquire Family Dollar for $78.50 per share
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06:10 EDTDG, FDODollar General makes proposal to acquire Family Dollar for $78.50 per share
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06:03 EDTFDO, DGDollar General makes $78.50/share offer for Family Dollar, CNBC reports
Dollar General (DG) will announce today a $78.50 per share in cash offer to acquire Family Dollar (FDO), CNBC's Andrew Ross Sorkin reports. Dollar Tree (DLTR) is seeking to buy Family Dollar for $74.50 per share.
06:00 EDTDG, FDODollar General offers to buy Family Dollar for $78.50/share, CNBC reports
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