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News Breaks | | | | November 9, 2012 | | 16:37 EDT |  | DTSI, KYAK, JCP, ISIS, GRPN, STRA, PCLN, DIS | On the Fly: Closing Wrap
Stocks on Wall Street were fractionally higher on the day, putting an end to consecutive selloffs following Tuesday night's election, and capping a volatile week for the averages. Stocks opened the day lower but quickly moved into positive territory, and while a mild selloff during President Obama's midday remarks regarding the fiscal cliff sent the market lower, the averages were able to maintain some gains and finish positive for the session... ECONOMIC EVENTS: In the U.S., import prices rose 0.5% in October from the prior month, versus expectations for them to be flat. The preliminary University of Michigan consumer sentiment reading for November came in at 84.9, versus the expected 82.9. Wholesale inventories were reported to have increased 1.1% in September, versus expectations for an increase of 0.4%. Also, the Congressional Budget Office estimated that going over the fiscal cliff would cut U.S. economic output by about 3%, driving the nation back into recession next year. President Obama made his first public comments since the election regarding the fiscal cliff and said that he would not accept a deficit reduction plan that did not include revenue hikes. However, Senate Minority Leader Mitch McConnell said Republicans would not agree to increased taxes for any payers... COMPANY NEWS: Shares of J.C. Penny (JCP), Walt Disney (DIS), and Groupon (GRPN) all traded lower following the release of their quarterly earnings. Shares of J.C. Penny were down $1.05, or 4.84%, to $20.64 after the company's EPS and revenue both missed consensus estimates and the company reported same store sales were down 26.1% in Q3. Disney fell $2.98, or 5.96%, to $47.06 after reporting their quarterly earnings after yesterday's close. Shares of Groupon were down $1.16, or 29.59%, to $2.76 after earnings missed consensus estimates and the stock received at least four analyst downgrades and three lowered price targets... MAJOR MOVERS: Among the notable gainers were shares of Kayak Software (KYAK), up $8.63, or 27.80%, to $39.67, after agreeing to be acquired by Priceline.com (PCLN) in a stock and cash transaction equivalent to $40 per share of Kayak stock. Shares of Priceline were fractionally lower after the announcement, down $2.00, or 0.32%, to $625.87. Also higher on the day were shares of Isis Pharmaceuticals (ISIS), up $1.11, or 14.47%, to $8.78 after the stock was upgraded to Outperform from Neutral at Cowen, citing a favorable valuation and optimism surrounding its antisense platform and pipeline. Among noteworthy losers were shares of DTS Inc (DTSI), down $5.82, or 28.23%, to $14.80 after the company reported earnings that missed consensus estimates and lowered its FY12 and FY13 revenue view. Also lower were shares of Strayer Education (STRA), down $9.66, or 17.20%, to $46.51 after its full-year earnings outlook was well below consensus estimates and the company suspended its dividend... INDICES: The Dow was up 4.07, or 0.03%, to 12,815.39; the S&P 500 was up 2.34, or 0.17%, to 1,379.85; the Nasdaq was up 9.29, or 0.32%, to 2,904.87. | |
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News For JCP;DIS;GRPN;KYAK;PCLN;ISIS;DTSI;STRA From The Last 14 Days Check below for free stories on JCP;DIS;GRPN;KYAK;PCLN;ISIS;DTSI;STRA the last two weeks. |
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| May 24, 2013 | | 15:07 EDT |  | DIS | Yahoo submits bid for Hulu, AllThingsD reports
 Subscribe for More Information | | | 13:19 EDT |  | DIS | KKR, Silver Lake to join bidding for Hulu video service, Bloomberg reports
| | | 10:22 EDT | | STRA | Boehner defends student loan bill, White House threatens veto, Politico says
GOP House Speaker John Boehner defended the student loan legislation that the House passed yesterday, according to Politico. The bill would tie student loan rates to Treasury note rates, and would cause an increase of less than two percentage points in student loan rates this year, the website stated. The White House has threatened to veto the bill, as it believes that the legislation would cause rates to jump when the economy improves, Politico stated. Student loan interest rates will double on July 1 if Congress doesn't take action. | | | 07:11 EDT | | DIS | Hulu attracts several bidders, Reuters reports
Subscribe for More Information | | | 06:10 EDT | | DIS | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | May 23, 2013 | | 14:58 EDT |  | JCP | J.C. Penney May volatility at eight-month lows
J.C. Penney overall option implied volatility of 52 is below its 26-week average of 62 according to Track Data, suggesting decreasing price movement. | | | May 22, 2013 | | 16:12 EDT | | JCP | J.C. Penney enters into new $2.25B credit facility
J. C. Penney Company announced that its wholly owned subsidiary, J. C. Penney Corporation, has entered into a new five-year $2.25B senior secured term loan credit facility. The size of the facility was increased from the $1.75B anticipated in the commitment letter the company announced on April 29. | | | May 21, 2013 | | 12:58 EDT | | DIS | Disney's ESPN cuts less than 6% of workforce, Bloomberg reports
Disney's (DIS) ESPN unit laid off less than 400 workers today as part of a companywide cost-cutting effort, Bloomberg reports, citing a person with knowledge of the situation. The cuts amount to less than 6% of ESPN’s 7,000 employees, the report adds. Reference Link | | | 08:56 EDT | | JCP | J.C. Penney announces successful tender, consent solicitation for debentures
Subscribe for More Information | | | 08:14 EDT |  | PCLN | priceline.com price target raised to $900 from $800 at Cantor
Subscribe for More Information | | | | May 20, 2013 | | 13:01 EDT | | PCLN | Priceline.com rises after analyst ups rating to Buy
Subscribe for More Information | | | 11:15 EDT | | PCLN | Priceline.com volatility at record low as shares rally to record high
Subscribe for More Information | | | 10:23 EDT | | JCP | J.C. Penney advances after analyst hikes price target to $27
Subscribe for More Information | | | 10:11 EDT |  | JCP, PCLN | On The Fly: Analyst Upgrade Summary
Subscribe for More Information | | | 08:16 EDT | | JCP | Follow-up: J.C. Penney upgraded to Buy from Hold at Maxim
Maxim upgraded J.C. Penney on expectations the company's strategy changes under new CEO Mike Ullman will drive traffic. The firm said its recent channel checks indicate that store traffic has increased and it raised its price target for shares to $27 from $16.50. | | | 08:03 EDT | | JCP | J.C. Penney upgraded to Buy from Hold at Maxim
| | | 07:34 EDT |  | ISIS | UBS to host a conference
Subscribe for More Information | | | 07:30 EDT | | JCP | J.C. Penney price target lowered to $7 from $12 at BMO Capital
Subscribe for More Information | | | 05:51 EDT | | PCLN | priceline.com upgraded to Buy from Hold at Deutsche Bank
Subscribe for More Information | | | May 19, 2013 | | 16:41 EDT | | DIS | Viacom's 'Into Darkness' tops Disney's “Iron Man 3” at box office, WSJ says
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