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Stock Market & Financial Investment News

News Breaks
February 28, 2013
12:30 EDTMNST, GRPN, PANL, SHLD, BKS, BSFT, JCPOn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday despite a weaker than expected estimate on gross domestic product growth. The futures had little reaction to the pre-market economic reports, which included the GDP revision along with personal consumption data and weekly jobless claims figures. The opening losses were minimal and barely lasted, as the market quickly reversed and moved into positive territory. The better than expected Chicago Purchasing Managerís Index also had little effect, as the averages have remained in a narrow trading range though mostly higher since the open... ECONOMIC EVENTS: In the U.S., the estimate of fourth quarter economic growth was revised up from an annualized fall of 0.1% to a rise of 0.1%, though the increase was much smaller than the bump up to 0.5% growth that analysts had forecast. Personal consumption rose in the quarter by 2.1%, versus the expected increase of 2.3%. Initial jobless claims fell 22K to 344K in the final week of February, better than the expected decline to 360K. The Chicago PMI Business Barometer Index for February rose to 56.8, versus consensus calls for a 55.0 reading. In Asia stocks were broadly higher, particularly in Japan, after the Japanese government formally nominated Haruhiko Kuroda, an advocate of aggressive policy action, as the Governor of its central bank... COMPANY NEWS: A number of well known retailers saw their stocks decline following their earnings reports, headlined by J.C. Penney (JCP). The company reported a much wider than expected quarterly loss and said its same-store sales plunged 31.7% during the holiday quarter. Shares declined over 15% following the report. Another embattled department store, Sears (SHLD), saw its shares fall more than 5% after its own report... MAJOR MOVERS: Among the notable gainers following their earnings reports were Universal Display (PANL), which jumped 13%, Barnes & Noble (BKS), which rose over 7%, and Monster Beverage (MNST), which advanced nearly 6%. Among the noteworthy losers was Groupon (GRPN), which plummeted more than 19% after it unexpectedly reported a quarterly loss, guided to much worse than expected sales in the coming quarter and the stock was downgraded by at least three firms. Also sharply lower were shares of BroadSoft (BSFT), which dropped 28% after its stock was similarly downgraded by at least three firms following disappointing results and guidance... INDICES: Near noon, the Dow was up 6.32, or 0.04%, to 14,081.69; the Nasdaq was up 6.68, or 0.21%, to 3,168.94; and the S&P 500 was up 1.97, or 0.13%, to 1,517.96.
News For JCP;SHLD;GRPN;BSFT;PANL;MNST;BKS From The Last 14 Days
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December 15, 2014
09:38 EDTJCPActive equity options trading
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December 5, 2014
16:52 EDTBKSDow just below 18K as market finishes week with gains
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15:12 EDTBKSBarnes & Noble NOOK said to be potential target for Wal-Mart, Bloomberg reports
Wal-Mart (WMT) is interested in e-books and could target Barnes & Noble's (BKS) NOOK Media, said TheDeal, according to Bloomberg.
11:04 EDTJCPStocks with call strike movement; JCP UNG
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08:57 EDTSHLDSears risk/reward remains quite negative, says Evercore ISI
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05:55 EDTJCPStocks with implied volatility movement; UTX JCP
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December 4, 2014
16:27 EDTBKSOn The Fly: Closing Wrap
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12:34 EDTBKSMicrosoft advances after analyst hikes target on upbeat earnings forecast
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12:22 EDTBKSOn The Fly: Midday Wrap
Stocks on Wall Street began the session slightly lower despite relatively in-line jobless claims data, as European markets moved down following a rate decision and accompanying commentary from ECB President Mario Draghi. Adding to the modest pressure seen in morning trading may be the fact that oil prices continue to move lower. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 17K to 297K in the week ended November 29, which was nearly in-line with the expectation for 295K first-time claims. Challenger reported announced layoffs fell 15.2K in November to 35.9K. In Europe, the European Central Bank kept its key rates unchanged, as expected. ECB President Mario Draghi said in his accompanying press conference that the latest euro area macroeconomic projections indicate lower inflation, accompanied by weaker real GDP growth and subdued monetary dynamics. Additionally, he stated that early next year the Governing Council will reassess the monetary stimulus achieved, the expansion of the balance sheet and the outlook for price developments. "Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council remains unanimous in its commitment to using additional unconventional instruments within its mandate. This would imply altering early next year the size, pace and composition of our measures," Draghi said. COMPANY NEWS: Shares of Barnes and Noble (BKS) slid about 10% after the company reported lower than expected second quarter earnings and said it continues to expect both Retail comparable bookstore sales and Retail Core comparable bookstore sales to decline in the low-single digits this fiscal year. Additionally, Barnes & Noble and Microsoft (MSFT) agreed to terminate their commercial agreement and B&N agreed to acquire Microsoft's entire preferred interest in NOOK Media in exchange for $62.4M cash and 2.74M shares of its stock. MAJOR MOVERS: Among the notable gainers was Hawaiian Electric (HE), which jumped 16% after its board approved a plan to spin off ASB Hawaii, the parent company for American Savings Bank, and establish it as an independent publicly traded company and NextEra Energy (NEE) agreed to acquire the company, excluding the banking subsidiary. Array BioPharma (ARRY) rose 15% after announcing it has reached a definitive agreement with Novartis (NVS) to regain full worldwide rights to binimetinib, a MEK inhibitor in three Phase 3 trials, which Piper Jaffray called a "big win" for the company. Among the noteworthy losers was UTi Worldwide (UTIW), which fell 11.5% after confirming that exploratory conversations have taken place with DSV, but adding those discussions never progressed beyond a preliminary stage and that no talks are currently taking place. Also lower were shares of Express (EXPR), which declined over 9% after the apparel retailer reported lower than expected Q3 revenue and gave EPS guidance that fell short of estimates. INDEXES: Near midday, the Dow was down 53.56, or 0.3%, to 17,859.06, the Nasdaq was down 2.80, or 0.06%, to 4,771.67, and the S&P 500 was down 5.49, or 0.26%, to 2,068.84.
10:42 EDTBKSBarnes & Noble says in talks with 'more than one' potential NOOK partner
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10:35 EDTSHLDSears drops after earnings, levels to watch
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10:32 EDTBKSBarnes & Noble says board evaluating structure of potential Nook separation
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10:12 EDTBKSBarnes & Noble says 'a few' new college contracts did not perform as expected
10:08 EDTBKSBarnes & Noble says Pearson continues to have 5% interest in Nook Media LLC
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09:23 EDTBKS, SHLDOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Avago (AVGO), up 7.2%... Kroger (KR), up 3.1%... Rite Aid (RAD), up 3.1%... Sears Holdings (SHLD), up 2.3%. ALSO HIGHER: Array Biopharma (ARRY), up 24% after reaching a definitive agreement with Novartis (NVS) to regain full worldwide rights to binimetinib... Hawaiian Electric (HE), up 13.5% following merger announcement with NextEra Energy (NEE)... SinoCoking Coal (SCOK), up 14.2% after beginning construction of second aboveground Syngas facility... Plug Power (PLUG), up 12.3% after announcing $20M ReliOn fuel cell contract... Mobileye (MBLY), up 3.4% after being upgraded to Buy from Hold at Deutsche Bank... CTI BioPharma (CTIC), up 3.6% following $15M payment from Teva for TRISENOX... TASER (TASR), up 3% after receiving multiple orders of AXON body cameras. DOWN AFTER EARNINGS: Barnes & Noble (BKS), down 7.6%... Express (EXPR), down 11.3%... Toronto-Dominion Bank (TD), down 1.4%... Toro Company (TTC), down 1.1%... Aeropostale (ARO), down 14.1%. ALSO LOWER: Kindred Biosciences (KIN), down 29.3% after announcing that it will discontinue its AtoKin study... UTi Worldwide (UTIW), down 13% after saying that there are no current talks with DSV A/S... Agree Realty (ADC), down 3.7% after 2.1M share Spot Secondary priced at $29.90.
08:46 EDTBKSBarnes & Noble to pay $62.4M, 2.74M shares for Microsoft Nook stake
08:44 EDTBKSBarnes & Noble to acquire preferred interest in NOOK Media from Microsoft
Barnes & Noble (BKS) filed a Form 8-K with the SEC stating that Barnes & Noble and Microsoft (MSFT) have agreed to terminate their commercial agreement including any associated obligations for international content acquisition and sale. Such termination will allow the company to continue its rationalization of the NOOK Digital business and enhances Barnes & Nobleís operational and strategic flexibility. The termination also relieves Microsoft of any obligation to continue to fund support and other payments set forth in the commercial agreement between the partners. Additionally, the company stated that it had entered into an agreement with Microsoft to acquire its entire preferred interest in NOOK Media, LLC. As a result of todayís announcement, Barnes & Noble expects that the completion of the potential separation of the company's businesses could occur by the end of August 2015, although there can be no assurances regarding the timing of such potential separation or that such separation will be completed.
08:38 EDTBKSBarnes & Noble sees FY15 SSS down in low-single digits
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08:37 EDTBKSBarnes & Noble reports Q2 EPS 12c, may not compare to consensus 31c
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06:03 EDTSHLDSears reports Q3 EPS ($5.15), one estimate ($3.31)
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