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Stock Market & Financial Investment News

News Breaks
March 13, 2014
10:33 EDTLGND, SEAS, HSOL, WSM, IRDMHigh option volume stocks: IRDM HSOL LGND WSM SEAS
News For IRDM;HSOL;LGND;WSM;SEAS From The Last 14 Days
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December 22, 2014
09:21 EDTLGNDLigand partner Glaxo files sNDA seeking additional indication for Promacta
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December 19, 2014
11:32 EDTLGNDLigand reports Pfizer receives EU marketing authorization for Duavive
Ligand Pharmaceuticals (LGND) announced that its partner Pfizer (PFE) has received EU marketing authorization for DUAVIVE from the European Commission. In the EU, DUAVIVE is indicated for the treatment of estrogen deficiency symptoms in postmenopausal women with a uterus for whom treatment with progestin-containing therapy is not appropriate. Ligand will be entitled to a milestone payment following Pfizer obtaining pricing of DUAVIVE in a major European market, the company stated.
December 18, 2014
10:01 EDTWSMOn The Fly: Analyst Upgrade Summary
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09:35 EDTWSMKate Spade Saturday, West Elm to team on home collection
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06:31 EDTWSMWilliams-Sonoma upgraded to Conviction Buy from Neutral at Goldman
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December 16, 2014
16:50 EDTSEASSeaWorld cuts 300 jobs and announces restructuring charges
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16:44 EDTSEASSeaWorld postpones Q4 dividend
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16:42 EDTSEASSeaWorld to accelerate start date of $250M share repurchase program
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December 12, 2014
10:35 EDTSEASSeaWorld CEO exit sparks talk of Busch Gardens split
Shares of theme park operator SeaWorld (SEAS) climbed in early trading, but have since given up their gains, following the departure of the company's CEO and president, Jim Atchison. Research firm FBR Capital suggested that the company could be split into two parts. According to the firm, SeaWorld's stock could eventually be worth about double its present value if the company does decide to pursue a break-up. WHAT'S NEW: After SeaWorld announced last night that its current CEO would step down from the position as of January 15 and be replaced on an interim basis by its chairman, FBR Capital analyst Barton Crockett wrote that a split up of the company "looks compelling." Specifically, SeaWorld could split its SeaWorld parks off from the other parks it owns, including Busch Gardens and Sesame Place, the analyst stated. In such a scenario, the other parks could be seen as an eventual takeover target for theme park operators Six Flags (SIX) and Cedar Fair (FUN), although an acquisition would not take place for two years due to tax issues, Crockett stated. Following a split, truncated SeaWorld should be valued at $4 per share, while the other parks could trade at $12 per share, the analyst stated. However, the spun off SeaWorld shares could eventually rebound to $17 if its initiatives to revitalize its weak attendance bear fruit or if it turns itself into a REIT, Crockett stated. Under the scenario outlined by Crockett, SeaWorld's stock, currently trading at about $16.60, could be worth $29. Additionally, split off SeaWorld could be taken private a few years later at a 30% premium, Crockett believes. While the analyst does not think the board wants to split the company, he says that the CEO vacancy could spark greater interest in the idea among investors, or CEO candidates could embrace the concept. Crockett kept a $20 price target and Outperform rating on SeaWorld. WHAT'S NOTABLE: SeaWorld's CEO change is likely to be viewed positively by investors, given the challenges faced by the company, Wells Fargo analyst Timothy Conder wrote in his own note to investors today. However, the analyst thinks the company lacks fundamental catalysts through the first half of next year and is facing difficult comparisons. He kept a Market Perform rating on the shares. PRICE ACTION: In early trading, SeaWorld fell 4c, or 0.25%, to $16.06.
08:41 EDTSEASSeaWorld CEO change could drive split interest, says FBR Capital
FBR Capital believes shares of SeaWorld could be worth up to $29 if the company were to spin off Busch Gardens into a separate public entity. FBR says the potential upside looks "compelling," but admits it does not think the board wants to split. However, it believes the CEO transition could spark greater investor interest in the idea. FBR keeps an Outperform rating on SeaWorld after the company announced that Jim Atchison is stepping down as CEO. It has a $20 price target for shares.
06:03 EDTSEASSeaWorld says new restructuring program to include job cuts
SeaWorld said last night that it continues to advance its previously announced company-wide cost initiative, including its plan to deliver approximately $50M of annual cost savings by the end of 2015. As part of that plan, the company announced a restructuring program across its entire 11-park enterprise. "This effort will centralize some operations, reduce duplication of functions and increase efficiencies and accelerate execution. The restructuring will result in the loss of some positions, and the Company will offer severance benefits to those impacted," SeaWorld said.
December 11, 2014
18:14 EDTSEASOn The Fly: After Hours Movers
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16:05 EDTSEASSeaWorld names David D'Alessandro as Interim CEO
SeaWorld announced that, effective January 15, 2015, Chairman David F. D'Alessandro will serve as the company's interim CEO until the board selects a permanent successor to current CEO and president, Jim Atchison, who will become vice chairman of the board. D'Alessandro, who has been chairman of the company's board since 2010, will continue in that position. In addition, Atchison will serve as a consultant to the company with respect to international expansion and the company's conservation initiatives. The company will also nominate Atchison to serve as the chairman of the board of the not-for-profit, independent SeaWorld & Busch Gardens Conservation Fund. The board, which expects to complete the search in six to nine months, has engaged an executive search firm to assist in the search for Atchison's successor.
12:34 EDTWSMRestoration Hardware hits 52-week high after beating Q3 estimates
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09:17 EDTSEASSeaWorld valuation compelling, says Credit Suisse
Credit Suisse said it remains comfortable with its Buy rating and $23 price target ton SeaWorld following a visit to Orlando. The analyst expects management cost cutting efforts to be implemented near-term and for the company to benefit from an improving consumer backdrop and rising industry fundamentals.
December 8, 2014
08:23 EDTSEASCredit Suisse to hold a field trip
Timeshare & Theme Park Trip travels throughout Orlando, Florida on December 8.
06:49 EDTHSOLHanwha SolarOne, Q CELLS announce merger
Hanwha SolarOne, Hanwha Solar Holdings, and Hanwha Q CELLS Investment announced a definitive share purchase agreement to create a new global leader in solar power. The combined business will be the largest manufacturer of solar cells with capacity of 3.28 gigawatts and will have a broader international footprint covering the largest and fastest-growing solar markets in the world. Under the terms of the agreement, SolarOne will acquire 100% of the outstanding share capital of Q CELLS from its sole shareholder, HSH, in an all-stock transaction with an implied enterprise value of the combined company at approximately $2.0B based on the closing price of SolarOne's American depositary shares as quoted by NASDAQ on December 5. The transaction was approved by the boards of both companies and is expected to close in Q1, subject to shareholder and regulatory approvals. Based on the unaudited financial information for each of SolarOne and Q CELLS for the six months ended June 30 the total revenue for the two companies was approximately $733M. More financial information for the combined companies will be provided in the shareholder circular, which SolarOne expects to be prepared and mailed to SolarOne's shareholders before the end of December, which will also be filed with or furnished to the SEC. According to the terms of the transaction, SolarOne will issue approximately 3.7B SolarOne ordinary shares to HSH in exchange for the transfer of 100% of the outstanding share capital of Q CELLS by HSH to SolarOne. The new shares to be issued by SolarOne to HSH in the transaction represent approximately 8.09 newly issued shares for each of SolarOne's currently outstanding shares on a fully diluted basis. If consummated, the transaction would result in HSH increasing its ownership of SolarOne from approximately 45.7% to approximately 94%, in consideration of HSH'S transfer of full ownership of Q CELLS to SolarOne. Based on SolarOne's December 5 closing share price, the implied equity value for Q CELLS is approximately $1.2B.
06:46 EDTHSOLHanwha SolarOne, Q CELLS announce merger
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