New User:

Forgot your password?

Stock Market & Financial Investment News

News Breaks
July 25, 2014
11:08 EDTNFLX, QLIK, DECK, INO, ANGI, CMG, MLNX, LXK, INFN, PBYIOptions with decreasing implied volatility
Options with decreasing implied volatility: INO PBYI MLNX DECK INFN CMG QLIK LKX ANGI NFLX
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | 3 | 4 | 5 >>
November 12, 2015
14:30 EDTANGIOther suitors interested in Angie's List, The Deal says
Subscribe for More Information
13:24 EDTNFLXEarnings Watch: Cisco seeks to break out of trading rut with Q1 report
Cisco Systems (CSCO) is scheduled to report results of its fiscal first quarter after the market close on Thursday, November 12 with a conference call scheduled for 4:30 pm ET. Cisco, a member of the Dow Jones Industrial Average, sells Internet protocol-based networking and other products related to the communications and IT industry and provides related services. EXPECTATIONS: Analysts are looking for earnings per share of 56c on revenue of $12.65B, according to First Call. The consensus range for EPS is 55c-59c on revenue of $12.55B-$12.81B. Along with its quarterly report, Cisco guided to Q1 EPS of 55c-57c and said it expects its revenue to increase 2%-4% year over year. LAST QUARTER: On August 12, Cisco reported fourth quarter EPS of 59c on revenue of $12.8B, beating consensus estimates of 56c and $12.65B for EPS and revenue, respectively. NEWS: On its Q4 earnings conference call, Cisco said that it was looking at acquisitions at the right price, particularly in areas like software and security. On August 31, Apple (AAPL) and Cisco announced a partnership to build a "fast lane" for iOS business users by optimizing Cisco networks for iOS devices and apps, integrating iPhone with Cisco enterprise environments and providing unique collaboration on iPhone and iPad. The next day, Cisco was among multiple other companies, including Amazon (AMZN), Google (GOOG), Intel (INTC), Microsoft (MSFT), Mozilla, and Netflix (NFLX), announcing the formation of the Alliance for Open Media to build next-generation media formats, codecs, and technologies in the public interest. On September 3, Business Insider reported that people at Cisco still though that chairman John Chambers was running the show as chief executive officer after appointing Chuck Robbins to that role last May. On September 15, Mandiant, a FireEye (FEYE) subsidiary, said in a blog post that researchers discovered previously unknown attacks on certain routers and that such attacks replace the operating system used in Cisco equipment. About a week later, the Wall Street Journal reported that Cisco was aiming to strengthen its business in China by joining forces with Inspur group, a move which was confirmed on September 24. On October 29, Cisco announced its intention to acquire 1 Mainstream. CNBC later reported that the company paid $100M-$150M to acquire 1 Mainstream. On November 9, Ericsson (ERIC) and Cisco announced a global business and technology partnership to "create the networks of the future." The companies said that the strategic partnership will be a key driver of growth and value for the next decade, with each company benefiting from incremental revenue in calendar year 2016 and expected to ramp to $1B or more for each by 2018. STREET RESEARCH: On August 17, Morgan Stanley downgraded Cisco to Equal Weight from Overweight and maintained a $30 price target on the stock, saying it did not believe improved growth is "secular" and anticipates growth will revert to GDP like levels as the upgrade cycle concludes. Wells Fargo said on August 28 that a 10% selloff in communication tech stocks, including Cisco, had created an attractive buying opportunity. Bernstein said a week later that Cisco, Juniper (JNPR), and F5 Networks (FFIV) should be bought on wider macro economic weakness. On October 6, Citi initiated coverage of Cisco with a Buy rating and $30 price target. A week later, Barclays initiated coverage of Cisco with an Overweight rating and a $32 price target. On November 9, RBC Capital maintained an Outperform rating and $33 price target on Cisco, saying it expects the company to report slightly better than expected results. The next day, SunTrust maintained a Buy rating on Cisco, saying its partnership with Ericsson was a positive and should strengthen Cisco's service provider business. PRICE ACTION: In afternoon trading ahead of tonight's report, Cisco shares were up 0.5% to $27.97. In the last three months, Cisco shares are fractionally higher and virtually unchanged when discounting this afternoon's slight rise.
12:23 EDTMLNXEZchip: Shareholders did not elect Raging Capital's director nominees to board
Subscribe for More Information
12:02 EDTANGIOn The Fly: Top stock stories at midday
Stocks on Wall Street opened deep in negative territory but the averages began to pare their losses almost immediately. All eyes and ears were on Fed Chair Janet Yellen, who gave a welcoming speech at a Fed conference, though she did not discuss policy or the economy. Other Fed speakers talked about the lack of inflation as well as interest rate expectations, but their comments so far this morning have failed to clarify expectations for the December meeting. ECONOMIC EVENTS: In the U.S., initial jobless claims were unchanged at 276,000 in the week of November 7, versus expectations for 270,000 first-time claims. The JOLTS report showed job openings rebounded 149,000 to 5.53M in September. In Europe, European Central Bank president Mario Draghi, in remarks delivered in a hearing in the European Parliament, once again signaled that the bank is ready to boost stimulus at its December meeting as warranted. COMPANY NEWS: Shares of Angie's List (ANGI) jumped 12% after Barry Diller's IAC/InterActiveCorp (IACI), the parent company of HomeAdvisor, made public a $8.75 per share cash buyout offer. Yelp (YELP), which also connects people with local businesses via its web-based and mobile services, advanced 8% following the revelation of the takeout bid for Angie's List... Department store owner Kohl's (KSS), which was weak yesterday along with virtually every company in the space following Macy's (M) disappointing results, bounced back 6% after its third quarter report topped expectations on both the top and bottom lines... Advance Auto Parts (AAP) sunk 13% after its earnings missed the consensus forecast, its profit guidance was lowered, its CEO announced plans to retire and Starboard's CEO Jeff Smith was appointed to the company's board. MAJOR MOVERS: Among the notable gainers was Eros International (EROS), which rallied more than 8.5% after it called allegations of security laws violations "baseless and misleading." Also higher was Viacom (VIAB), which gained 2.5% after it quarterly earnings came in roughly in-line with consensus estimates. Among the noteworthy losers was Fairmount Santrol (FMSA), which fell 20% after reporting downbeat third quarter earnings and suspending its earnings guidance due to market uncertainty. Also lower was Flower Foods (FLO), which dropped 10% after it reported quarterly earnings and narrowed its fiscal 2015 guidance. INDEXES: Near midday, the Dow was down 147.82, or 0.84%, to 17,554.40, the Nasdaq was down 18.15, or 0.36%, to 5,048.87, and the S&P 500 was down 13.77, or 0.66%, to 2,061.23.
10:40 EDTANGIAngie's List upgraded to Outperform from Perform at Oppenheimer
Subscribe for More Information
10:37 EDTANGIAngie's List surges after HomeAdvisor parent comes public with takeover bid
Shares of Angie's List (ANGI) are surging this morning after Barry Diller's IAC/InterActiveCorp (IACI) made public a $8.75 per share cash offer for the company. Angie's List helps facilitate transactions between more than 3M consumers nationwide and its collection of service providers in approximately 720 categories of service. WHAT'S NEW: IAC/InterActiveCorp offered to buy Angie's List for $8.75 per share in cash. IAC said it was also willing to consider combining Angie's List with its HomeAdvisor business through a tax-free stock-for-stock exchange. IAC said the combination of Angie's List with HomeAdvisor would "create the premier platform in the home services market" with over $700M in revenue. WHAT'S NOTABLE: On October 13, TCS Capital, one of Angie's List's largest shareholders with a 9.1% stake at that time, urged the company to consider a combination with HomeAdvisor, saying a deal could at least double or even triple the company's share price. TCS, which later raised its stake to 10.7%, said the interests of Angie's List's board "are not aligned with the vast majority of shareholders." In a letter sent to Angie's List's board on Wednesday, IAC suggested that Angie's board had rebuffed its offer. IAC Chief Executive Officer Joey Levin wrote in the letter that IAC was "disappointed by [Angie's List's] unwillingness to continue discussions with us following our [October 23] meeting. Levin said IAC's "strong preference" would have been to work with Angie's List on a cooperative basis, but made the offer and letter public as "we have been unable to develop any meaningful dialogue with you for many months now." Angie's List confirmed the receipt of the offer from IAC and said its board of directors and management team will "carefully review and evaluate IAC's proposal," adding that the company is committed to "acting in the best interests" of its investors. ANALYSTS' REACTION: Piper Jaffray analyst Gene Munster told investors in a research note that he expects the confidence around a near-term takeover of Angie's List to fade, expressing a belief that CEO Scott Durschlag and the board are "committed to righting the business before selling at a compressed multiple." Munster reiterated a Neutral rating and $6 price target on the stock. Raymond James analyst Aaron Kessler upgraded Angie's List to Market Perform from Underperform based on the belief that the proposed IAC deal "likely creates a floor valuation for shares." Kessler noted that if Angie's shareholders reject the deal, the stock could decline if there is continued softness in fundamentals. He does not expect other bidders for Angie's List. Cowen analyst John Blackledge said he believes Angie's List "fits" with IAC and HomeAdvisor, given that it is an underperforming asset, and believes it "makes sense" for IAC to take on an acquisition and integration process. PRICE ACTION: In morning trading, Angie's List is up 13.7% to $9.01, while IAC/InterActiveCorp is down about 0.5% to $65 per share. OTHERS TO WATCH: Yelp (YELP), which also connects people with local businesses via its web-based and mobile services, is up about 7% to $26.68.
10:00 EDTANGIOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Angie's List (ANGI) upgraded to Market Perform from Underperform at Raymond James... CGI Group (GIB) upgraded to Buy from Hold at Societe Generale... Devon Energy (DVN) upgraded to Buy from Neutral at Guggenheim... EP Energy (EPE) upgraded to Neutral from Sell at Citi... Franco-Nevada (FNV) upgraded to Buy from Hold at Canaccord... Galena (GALE) upgraded on commercial business divestment at Oppenheimer... KPN (KKPNY) upgraded to Buy from Hold at HSBC... Macy's (M) upgraded to Buy from Neutral at Northcoast... Magic Software (MGIC) upgraded to Overweight from Equal Weight at Barclays... Range Resources (RRC) upgraded on valuation, 2016 outlook at RBC Capital... Raytheon (RTN) upgraded to Buy from Hold at Argus... Trend Micro (TMICY) upgraded to Buy from Neutral at Nomura.
09:36 EDTNFLXActive equity options trading on open
Subscribe for More Information
09:21 EDTANGIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Kohl's (KSS), up 5.4%... NetEase (NTES), up 6.3%... SunPower (SPWR), up 3.4%. ALSO HIGHER: Angie's List (ANGI), up 12.1% after after IAC (IAC) proposes to acquire the company... OHR Pharmaceutical (OHRP), up 7.4% after submitting a Special Protocol Assessment request to the FDA for OHR-102... Galena Biopharma (GALE) up 6.2% after being upgraded to Outperform from Perform at Oppenheimer... MannKind (MNKD), up 5.4% after confirming a planned stock sale. DOWN AFTER EARNINGS: Freshpet (FRPT), down 25%... Advance Auto Parts (AAP), down 11.1%... Viacom (VIAB), down marginally. ALSO LOWER: Derma Sciences (DSCI), down 30.4% after ending its Phase 3 clinical trials with aclerastide, DSC127, for diabetic foot ulcer healing... Sunedison (SUNE), down 11.2% after being downgraded to Sell from Neutral at Axiom.
08:02 EDTMLNXEZchip postpones vote on proposed merger with Mellanox
Subscribe for More Information
07:46 EDTMLNXMellanox backs offer for EZchip at $25.50 per share
Subscribe for More Information
06:42 EDTANGIAngie's List volatility low into IAC proposes to acquire
Subscribe for More Information
05:41 EDTANGIPiper's Munster sees Angie's List takeout optimism fading
Piper Jaffray analyst Gene Munster expects the optimism around a near-term takeout of Angie's List (ANGI) to fade. IAC (IACI) last night announced a proposal to acquire Angie's for $8.75 per share, or a 10% premium to the stock's closing price. Angie's new CEO Scott Durchslag and board are committed to turning around the business before selling at a "compressed multiple," Munster told investors last night in a research note. He reiterates a Neutral rating on Angie's with a $6 price target. The stock rallied 11%, or 87c, to $8.79 in after-hours trading last night.
November 11, 2015
20:45 EDTANGIAngie's List upgraded to Market Perform from Underperform at Raymond James
Subscribe for More Information
19:18 EDTANGIOn The Fly: After Hours Movers
UP AFTER EARNINGS: Popeyes Louisiana Kitchen (PLKI), up 4.9%. ALSO HIGHER: Angie's List (ANGI), up 10.7% after after IAC (IAC) proposes to acquire the company... NCR (NCR), up 3.6% after the Wall Street Journal reported that Blackstone is close to a deal for a minority stake in the company. DOWN AFTER EARNINGS: Digital Ally (DGLY), down 26%... Freshpet (FRPT), down 17.2%... Flowers Foods (FLO), down 3.6%. ALSO LOWER: Shell Midstream (SHLX), down 4.2% after offering 8M common units.
18:18 EDTANGIAngie's List confirms $8.75 per share InterActiveCorp offer
Subscribe for More Information
17:28 EDTANGIYelp up 2.5% after IAC proposes Angie's List acquisition
Subscribe for More Information
16:12 EDTANGIAngie's List up 9.3% after IAC proposes to acquire the company
Subscribe for More Information
16:11 EDTANGIIAC proposes to acquire Angie's List for $8.75 per share
Subscribe for More Information
16:09 EDTANGIIAC proposes to acquire Angie's List for $8.75 per share
1 | 2 | 3 | 4 | 5 >>

Sign up for a free trial to see the rest of the stories you've been missing.
I agree to the disclaimer & terms of use