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Stock Market & Financial Investment News

News Breaks
February 14, 2014
12:19 EDTTRLA, JOSB, MW, WTW, AIG, CRAY, LOGM, IM, CHGGOn The Fly: Midday Wrap
Stocks on Wall Street were mixed at midday with the Dow and S&P 500 outperforming the Nasdaq. The major averages began the session with little fanfare and remained close to the flat line in early trading. The slightly better than expected University of Michigan consumer confidence reading provided a bit of a catalyst for buyers, who have managed to push all but the Nasdaq back into positive ground. ECONOMIC EVENTS: In the U.S., import prices edged up 0.1% and export prices rose 0.2% in January. Industrial production fell 0.3% in January, versus expectations for it to have grown 0.3%. The preliminary February University of Michigan consumer confidence reading was unchanged from the final January figure at 81.2. In Europe, the eurozone's economy expanded at a 0.3% pace last quarter, versus analysts' consensus for expansion of 0.2%. COMPANY NEWS: Jos. A. Bank (JOSB) announced a deal to buy Everest Holdings, the parent company of the Eddie Bauer brand, for cash and stock worth about $825M. Jos. A. Bank, which has been both the pursuer and the pursued in a long running, public negotiation with peer Men's Wearhouse (MW), said the deal give it the right to terminate its agreement in the event an unsolicited offer is made to acquire Jos. A. Bank that it determines would "reasonably be expected to create greater value" for shareholders. Jos. A. Bank also said it will buy back 4.6M of its common shares, or 16.4% of its outstanding shares, if the Eddie Bauer deal moves forward. Afterward, Men's Wearhouse said will "evaluate its options" with regard to Jos. A. Bank... After last night's closing bell, AIG reported fourth quarter profits that beat expectations, raised its dividend by 25% and increased its stock buyback plan by $1 billion. Additionally, Bloomberg reported that the insurer will cut its workforce by 3%. Shares of AIG rose in after-hours trading, but are down 2% near midday after Deutsche Bank called the quarter "messy" and a "modest disappointment" and Barclays lowered its price target on the stock to $56 from $60 to reflect slower than expected P&C margin improvement. MAJOR MOVERS: Among the notable gainers following their better than expected quarterly reports were supercomputer maker Cray (CRAY), which surged 32%, cloud-based solutions company LogMeIn (LOGM), which jumped 23%, and computer parts distributor Ingram Micro (IM), which rose 13%. Among the noteworthy losers was Weight Watchers (WTW), which fell 26% after its fourth quarter profit missed expectations and the company sharply cut its fiscal 2014 earnings outlook. Also lower following their own earnings reports were learning platform operator Chegg (CHGG), which fell 17%, and home buying website Trulia (TRLA), which dropped 18%. INDEXES: Near midday, the Dow was up 73.93, or 0.46%, to 16,101.52, the Nasdaq was down 7.04, or 0.17%, to 4,233.63, and the S&P 500 was up 4.41, or 0.24%, to 1,834.24.
News For JOSB;MW;WTW;AIG;CRAY;LOGM;IM;CHGG;TRLA From The Last 14 Days
Check below for free stories on JOSB;MW;WTW;AIG;CRAY;LOGM;IM;CHGG;TRLA the last two weeks.
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September 15, 2014
10:13 EDTTRLAZillow volatility at historic low into planned acquisition of Trulia
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08:40 EDTAIGAIG to host investor day
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September 14, 2014
18:02 EDTAIGOutcome of AIG bailout trial may carry risk for insurer, WSJ says
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September 12, 2014
08:00 EDTMWMen's Wearhouse core strength offset by Jos. A. Bank, says Cowen
Cowen said the strength of the core business at Men's Wearhouse was offset by margin pressure in Jos. A. Bank, which has the potential to continue through the remainder of the year. The firm has lowered its expectations due to the pressure and feels the Street's earnings growth rate expectations for 2015 seem optimistic, though Cowen keeps its Outperform rating and $62 price target on the stock.
September 11, 2014
10:49 EDTMWHigh option volume stocks
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10:20 EDTMWMen's Wearhouse heads lower after initial bounce off lows
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09:57 EDTMWMen's Wearhouse backs EPS reaching at least $5.50 by 2017
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09:19 EDTMWMen's Wearhouse: Sales for Jos. A. Bank will be somewhat lumpy
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September 10, 2014
17:39 EDTMWMen's Wearhouse reports Q2 Jos. A. Bank SSS up 1%, Moores Q2 SSS up 10.2%
17:32 EDTMWMen's Wearhouse reports Q2 adjusted EPS $1.10, consensus $1.06
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15:50 EDTMWNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Restoration Hardware (RH), consensus 64c; Men's Wearhouse (MW), consensus $1.06; Five Below (FIVE), consensus 14c; Sigma Designs (SIGM), consensus (8c); Wet Seal (WTSL), consensus (9c).
15:36 EDTMWMen's Wearhouse September 55 straddle priced for 6.6% move into Q2
05:32 EDTCRAYCray appoints Steve Scott as Chief Technology Officer
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September 9, 2014
10:18 EDTAIGDollar General listed among 5 largest long positions by Jana Partners
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06:49 EDTMWMen's Wearhouse September volatility elevated into Q2
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September 8, 2014
16:47 EDTTRLAFCC review of Zillow-Trulia deal may depend on advertising, WSJ says
The proposed Zillow (Z), Trulia (TRLA) transaction which is currently being reviewed by the Federal Trade Commission may raise concerns at the commission depending on whether the agency views all real-estate advertising equally or instead distinguishes between online ads and those outside cyberspace, says the Wall Street Journal. Reference Link
11:51 EDTTRLAZillow, Trulia move lower ahead of short-seller presentation
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10:06 EDTAIGOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: AIG (AIG) initiated with a Buy at Citigroup... Agilent (A) initiated with an Equal Weight at Morgan Stanley... Altisource Residential (RESI) initiated with a Neutral at JPMorgan... AngloGold (AU) initiated with an Overweight at JPMorgan... Arista Networks (ANET) initiated with an Outperform at FBN Securities... C1 Financial (BNK) initiated with a Buy at Wunderlich... Cherokee (CHKE) initiated with a Buy at Roth Capital... ContraFect (CFRXU) initiated with a Buy at Maxim... DRDGOLD (DRD) initiated with an Underweight at JPMorgan... Enable Midstream (ENBL) initiated with an Equal Weight at Morgan Stanley... Enservco (ENSV) initiated with an Outperform at Northland... GoPro (GPRO) initiated with an Outperform at FBN Securities... Gold Fields (GFI) initiated with an Overweight at JPMorgan... Gulfport Energy (GPOR) initiated with an Equal Weight at Morgan Stanley... Harmony Gold (HMY) initiated with a Neutral at JPMorgan... Illumina (ILMN) initiated with an Equal Weight at Morgan Stanley... LINN Energy (LINE) reinstated with an Outperform at Credit Suisse... LinnCo (LNCO) reinstated with an Outperform at Credit Suisse... Randgold (GOLD) initiated with a Neutral at JPMorgan... Rentrak (RENT) initiated with a Buy at Needham... Rice Energy (RICE) initiated with an Accumulate at KLR Group... SanDisk (SNDK) initiated with an Outperform at FBN Securities... Seadrill (SDRL) initiated with a Sell at Canaccord... Tesla (TSLA) initiated with an Outperform at FBN Securities... Thermo Fisher (TMO) initiated with an Overweight at Morgan Stanley... Waters (WAT) initiated with an Underweight at Morgan Stanley... Whiting Petroleum (WLL) initiated with an Equal Weight at Morgan Stanley.
09:39 EDTAIGAIG, Coventry First file lawsuits against one another
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06:10 EDTAIGAIG initiated with a Buy at Citigroup
Citigroup initiated shares of AIG with a Buy rating and $68 price target citing the company's "substantial" improvements to its balance sheet and profitability.
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