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Stock Market & Financial Investment News

News Breaks
May 11, 2012
16:15 EDTLNKD, JPM, CHK, MWW, ALR, ARNAOn The Fly: Closing Wrap
Stocks on Wall Street were mixed, as the Nasdaq was just barely able to cling to a marginal gain for the session. Stock futures pointed to a sharply lower open following JPMorgan’s (JPM) announcement of a $2B trading loss. The futures moved off their lows prior to the open but the broader market opened in negative territory. The averages found a level where they began to build following the highest consumer confidence reading since January 2008. Each of the major indices made it to positive territory and then went into a slow drift lower, with only the Nasdaq avoiding a return to the red... ECONOMIC EVENTS: Domestically, the producer price index report showed that prices fell 0.2% in April, versus expectations for no change. The core reading, which strips out food and energy, rose 0.2%, which was in line with expectations. The University of Michigan Consumer Confidence reading was 77.8, stronger than the expected 76 reading and its highest level since January 2008. Internationally, data from China and India may signal a further weakening of the global recovery, as China reported its industrial production rose 9.3% from a year ago in April while India's industrial output fell 3.5% in March from the prior year... COMPANY NEWS: The surprising announcement from JPMorgan of a $2B trading loss at one of its divisions triggered calls for tougher bank regulation and a sell off in its shares. CEO Jamie Dimon admitted to “egregious” failures in its risk management and said the losses could deepen this quarter and beyond, sending its stock down more than 9%... MAJOR MOVERS: Among the notable gainers were Arena Pharmaceuticals (ARNA), up $2.70, or 73.77%, to $6.36, after an FDA panel backed the approval of its weight loss drug, lorcaserin, and Monster Worldwide (MWW), up $1.50, or 19.13%, to $9.33, after Reuters said the company has attracted takeover interest from LinkedIn (LNKD) and Silver Lake, but CNNMoney said sources close to LinkedIn denied that report. Noteworthy losers included Alere (ALR), down $3.28, or 14.71%, to $19.02, following its disclosure of a subpoena from the Department of Health and Human Services and the potential of broader recalls of certain products after an FDA inspection, and Chesapeake Energy (CHK), down $2.37, or 13.80%, to $14.81, after the company said it would need to delay its 10-Q filing and then made the filing shortly afterward, in which it said it may have to delay some of its asset sales... INDICES: The Dow lost 34.44, or 0.27%, to 12,820.60; the Nasdaq rose 0.18, or 0.01%, to 2,933.82; and the S&P 500 dropped 4.60, or 0.34%, to 1,353.39.
News For JPM;ARNA;MWW;LNKD;ALR;CHK From The Last 14 Days
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May 13, 2015
11:28 EDTCHKStocks with call strike movement; TWTR JCP
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06:08 EDTLNKDStocks with implied volatility below IV index mean; LNKD NFLX
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May 12, 2015
17:29 EDTALRAlere to delay filing Form 10-Q
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14:13 EDTJPMBove says it may be time to buy bank stocks
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09:14 EDTLNKDApps World to hold a conference
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08:07 EDTLNKDSunTrust to hold a conference
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08:04 EDTCHKCitigroup to hold a conference
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06:02 EDTLNKDStocks with implied volatility below IV index mean; LNKD NFLX
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May 11, 2015
19:15 EDTARNAOn The Fly: After Hours Movers
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16:41 EDTARNAArena Pharmaceuticals reports Q1 EPS (10c), consensus (14c)
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16:22 EDTARNAArena Pharmaceuticals enters collaboration with Roivant Sciences
Arena Pharmaceuticals announced that its subsidiary, Arena Pharmaceuticals GmbH, and Roivant Sciences Ltd., have entered into a Development, Marketing and Supply Agreement for nelotanserin, Arena's internally discovered inverse agonist of the 5-HT2A receptor. The agreement grants Roivant exclusive worldwide rights to develop and commercialize nelotanserin. Nelotanserin has been studied to date in multiple clinical trials involving over 900 subjects. Roivant intends to initiate additional Phase 2 clinical trials for the treatment of behavioral and neuropsychiatric disturbances, including psychoses, in patients with dementia and other neurological diseases. In addition, Roivant may pursue the development of nelotanserin for other neuropsychiatric disorders. Roivant will be responsible for funding the development and commercialization of nelotanserin. Under the agreement, Arena will manufacture clinical supply and commercial product to sell to Roivant. Arena will receive a $4.0M upfront payment and is eligible to receive $41.5M in regulatory and development milestone payments. Arena is also eligible to receive 15% of net sales of nelotanserin in exchange for the manufacture and supply of finished commercial drug product, and up to a total of $60.0M in one-time purchase price adjustment payments tied to certain commercial sales milestones.
11:40 EDTCHKStocks with call strike movement; CHK RIG
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09:59 EDTJPMOn The Fly: Analyst Downgrade Summary
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09:58 EDTJPMBarclays expected to pay GBP2B to settle forex rigging charges, FT says
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08:18 EDTJPMBanks executives seek to push back on 'false, damaging' statements, WSJ reports
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08:04 EDTCHKCredit Suisse to hold a symposium
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07:46 EDTJPMJPMorgan price traget raised to $73 from $68 at BofA/Merrill
BofA/Merrill raised Buy rated JPMorgan's price target to $73 following a meeting with Chairman Jamie Dimon. The analyst believes earnings surprises are likely and the market is over-discounting the impact of regulation. BofA/Merrill expects JPMorgan to benefit from its multi-dimensional model, EPS sensitivity to rising interest rates, and a shift in Fed monetary policy which will drive bond market volatility.
07:28 EDTJPMJPMorgan downgraded to Neutral from Buy at MKM Partners
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06:11 EDTLNKDStocks with implied volatility below IV index mean; LNKD NFLX
Stocks with implied volatility below IV index mean; LinkedIn (LNKD) 28, Netflix (NFLX) 26 according to iVolatility.
May 10, 2015
20:03 EDTJPMCiti, JPMorgan, UBS consider exiting U.K., Financial Times says
Citi (C), JPMorgan (JPM), and UBS (UBS) are considering exiting their London operations due to the U.K.'s bank levy, reports the Financial Times, citing people familiar with the matter. There is particular focus among the banks to reduce repurchase agreements, said three senior industry figures. The Financial Times notes that the recent Conservative win could see political maneuvers to reduce or renegotiate the levy, potentially persuading the banks to stay. Reference Link
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