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Stock Market & Financial Investment News

News Breaks
August 22, 2014
16:42 EDTEBAY, FDO, HPQ, FL, HTZ, PETM, DG, GME, AEO, RAX, DLTR, LB, CRM, FCS, IRF, ISIL, IFNNY, ONNN, SMTCMarket finishes week higher on economic data, earnings
Stocks ended the week higher after several pieces of economic data beat expectations and investors cheered results from a number of companies, offsetting weak overseas economic data and somewhat hawkish statements from the Fed. MACRO NEWS: Weekly jobless claims, housing starts for July, a manufacturing index for July, existing home sales for July, and leading economic indicators for July all beat expectations... Overseas economic data was less upbeat, however, as purchasing managers' indexes for the euro zone and China came in below expectations... Minutes of the Fed's last meeting stated that some FOMC members believe that interest rates may have to be raised sooner than expected. Meanwhile, Fed Chairman Yellen reiterated in a speech today that the Fed's policy changes would be based on upcoming economic data. However, she did say that the FOMC s questioning the degree of slack in the economy. COMPANY NEWS: M&A news flow was strong against this week. German semiconductor company Infineon (IFNNY) agreed to buy its smaller peer, International Rectifier (IRF). Other names in the space, including Semtech (SMTC), Intersil (ISIL), Fairchild Semiconductor (FCS) and ON Semiconductor (ONNN), rose in sympathy... Dollar General (DG) made a $78.50 per share bid for Family Dollar (FDO), in an effort to trump a previous $74.50 per share bid for Family Dollar by Dollar Tree (DLTR). Family Dollar rejected Dollar General's offer based on antitrust concerns... PetSmart (PETM) announced that it would pursue strategic alternatives, including a potential sale of the company... The website The Information reported that eBay (EBAY) is considering spinning off its PayPal digital payments unit... Hedge fund Blue Harbour Group announced that it had obtained a 6.4% stake in cloud computing company Rackspace (RAX)... Carl Icahn disclosed an 8.5% stake in Hertz (HTZ), but the car rental company withdrew its fiscal 2014 guidance, saying that it expects its full-year results to be well below its previous guidance range... In earnings news, cloud computing company Salesforce.com (CRM), apparel retailers American Eage (AEO) Foot Locker (FL) and L Brands (LB), and video game retailer Gamestop (GME), were among the companies that rose after reporting their results. HP (HPQ) and PetSmart dropped slightly after reporting their results.
News For IFNNY;IRF;SMTC;ISIL;FCS;ONNN;DG;FDO;DLTR;PETM;EBAY;RAX;HTZ;CRM;AEO;FL;LB;GME;HPQ From The Last 14 Days
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December 8, 2014
07:32 EDTFCSRaymond James to hold a conference
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07:28 EDTCRM, HPQFBN Securities to hold a bus tour
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06:21 EDTPETMDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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06:10 EDTEBAYeBay upgraded to Buy from Hold at Stifel
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December 7, 2014
15:53 EDTHPQHP shares could gain 15%, Barron's says
HP shares could gain 15% to $45.00 per share as the company splits its enterprise business from PCs and printer business, by next October, Barron's argues in a follow up article. Reference Link
December 5, 2014
16:52 EDTAEODow just below 18K as market finishes week with gains
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16:36 EDTAEOOn The Fly: Closing Wrap
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12:50 EDTAEOOn The Fly: Midday Wrap
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12:03 EDTDLTR, DG, FDOFive Below plummets after Q4, FY14 outlooks trail analysts' estimates
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10:35 EDTONNNHigh option volume stocks
High option volume stocks: NOAH FRAN BIG GREK KEY VIAB STRZ ALKS QTWW ONNN
10:18 EDTHTZAvis Budget and Hertz November data positive, says MKM Partners
MKM Partners said Manheim data for November was 123.3, above expectations and October's reading of 12.8. The firm said Manheim and other data is supportive of positive trends in the car rental industry.
10:03 EDTDLTR, DG, FDOFamily Dollar sees Dollar General needing to divest over 3.4K stores, CNBC says
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09:30 EDTAEOAmerican Eagle guidance conservative, especially for margins, says Stephens
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09:19 EDTDG, FDO, DLTRDollar 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.
09:17 EDTAEOOn The Fly: Pre-market Movers
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08:03 EDTLBL Brands price target raised to $86-$90 from $76-$80 at Wells Fargo
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07:51 EDTAEOAmerican Eagle fundamentals remain weak, says UBS
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07:15 EDTAEOAmerican Eagle shares should be bought on weakness, says SunTrust
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06:18 EDTEBAYStocks with implied volatility above IV index mean; NQ EBAY
Stocks with implied volatility above IV index mean; NQ Mobile (NQ) 144, eBay (EBAY) 20 according to iVolatility.
06:09 EDTFDO, DG, DLTRDollar 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."
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