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News Breaks | | | | November 16, 2012 | | 16:18 EDT |  | SHLD, DVAX, PENN, JPM, FLO, DELL, SHF, CS | On The Fly: Closing Wrap
Stocks on Wall Street were higher on the day after positive news out of Washington regarding the fiscal cliff saw stocks surge back into the green near midday. The averages drifted just north of the flat-line for the remainder of the trading session before riding a late day rally to head into the weekend with modest gains, though not enough to keep them from finishing down on the week... ECONOMIC EVENTS: In the U.S., industrial production unexpectedly declined 0.4% in October, compared to forecasts for a 0.2% gain, though the Fed said that Superstorm Sandy cut total production by almost 1 percentage point... COMPANY NEWS: JPMorgan (JPM) and Credit Suisse (CS) both agreed to pay settlements relating to their sale of residential mortgage-backed securities. JPMorgan agreed to pay $297M, with most of that payment related to Bear Stearns actions, while Credit Suisse will pay $120M to settle the charges. Shares of JPMorgan edged up 14c, or 0.36%, to $39.53 on the day, while shares of Credit Suisse fell 43c, or 1.92%, to $21.94... Shares of PC maker Dell (DELL) traded down 72c, or 7.53%, to $8.84 after the company's quarterly results missed estimates on both the top and bottom lines... MAJOR MOVERS: Among the notable gainers was Penn National (PENN), up $10.62, or 28.24%, to $48.23 after announcing its intent to separate its gaming assets and real estate assets into two publicly traded companies. Also higher were shares of Schiff Nutrition (SHF), up $9.84, or 29.01%, to $43.76 after the Reckitt Bensicker commenced a tender offer to acquire the company for $42 per share, and Flower Foods (FLO), which rose $2.06, or 10.17%, to $22.32 after Hostess Brands said it would liquidate, which could allow Flower to gain market share or look at a deal to acquire Hostess assets. Among the noteworthy losers was Dynavax (DVAX), down $2.19, or 47.30%, to $2.44 after an FDA advisory committee voted that there was insufficient data to adequately support the safety of its Heplisav vaccine. Also trading lower were shares of Sears Holding (SHLD), down $10.99, or 18.79%, to $47.49, after the company reported its domestic comparable store sales declined 3.1% in Q3... INDICES: The Dow gained 45.93, or 0.37%, to 12,588.31; the Nasdaq rose 16.19, or 0.57%, to 2,853.13; and the S&P 500 added 6.55, or 0.48%, to 1,359.88. | |
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News For JPM;CS;DELL;PENN;SHF;FLO;DVAX;SHLD From The Last 14 Days Check below for free stories on JPM;CS;DELL;PENN;SHF;FLO;DVAX;SHLD the last two weeks. |
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| June 18, 2013 | | 17:16 EDT |  | DELL | Dell special committee responds to Carl Icahn's latest proposal
 Subscribe for More Information | | | 16:20 EDT | | DELL | Southeastern says Icahn in best position to lead alternative Dell transaction
In a regulatory filing Southeastern Asset Management stated: "Southeastern Asset Management continues to believe that the Michael Dell / Silver Lake management buyout proposal undervalues the company and its prospects going forward. Southeastern and Icahn Associates have been working diligently to provide a better alternative for shareholders.Southeastern has determined that Icahn is in the best position to lead the development of an alternative transaction and to generate a better outcome for shareholders. Southeastern has therefore agreed to sell approximately 72,010,328 shares to Icahn, making Icahn the largest outside shareholder of Dell. Southeastern intends to vote its approximately 72,010,328 remaining shares of Dell stock against the $13.65 Michael Dell / Silver Lake management buyout proposal. Furthermore, Southeastern intends to vote its shares at Dell’s Annual Meeting in favor of the slate of highly qualified director candidates it and Icahn submitted to the Company. Icahn has Southeastern’s full support as it leads the proxy fight in the interest of all shareholders against the undervalued management buyout proposal. Southeastern will continue to participate in the proxy contest with Icahn to defeat the Michael Dell / Silver Lake management buyout proposal." | | | 16:06 EDT | | DELL | Icahn reports 8.68% stake in Dell
| | | 12:49 EDT | | DELL | Icahn proposes Dell engage in $14 per share tender offer
Subscribe for More Information | | | 12:32 EDT | | DELL | Icahn says bought 72M Dell shares from Southeastern
Subscribe for More Information | | | 12:28 EDT | | DELL | Icahn proposes Dell commence tender offer for 1.1B shares at $14
Subscribe for More Information | | | 12:27 EDT | | DELL | Icahn issues letter to Dell holders, proposes $14/share tender offer
Subscribe for More Information | | | 09:30 EDT | | DELL | Dell tells holders $13.65/share offer 'superior to any alternative'
Subscribe for More Information | | | 07:42 EDT |  | DELL | O'Reilly Media to hold a conference
Subscribe for More Information | | | 07:29 EDT | | CS | Securities Industry and Financial Markets Association to host a conference
Subscribe for More Information | | | | 07:20 EDT | | PENN | WhiteSand Gaming and Casino Enterprise Management hold a forum
11th Annual Gaming Technology Forum is being held in Las Vegas on June 17-19. | | | 07:19 EDT | | SHLD | Eyefortransport to hold a summit
Subscribe for More Information | | | June 17, 2013 | | 09:36 EDT | | JPM | JPMorgan reports May net credit losses 3.34% vs. 3.49% last month
Reports May delinquency rate 1.60% vs. 1.70% last month. | | | 08:09 EDT | | JPM | JPMorgan confirms launch of asset tracking service
Subscribe for More Information | | | 07:50 EDT |  | JPM | Move to relaunch synthetic CDOs falls apart, FT reports
Subscribe for More Information | | | 07:42 EDT | | JPM | JPMorgan to begin asset tracking service, FT reports
Subscribe for More Information | | | 07:13 EDT | | JPM | Bank profits seen hurt by rising rates with no growth, Bloomberg reports
Subscribe for More Information | | | 06:14 EDT | | JPM | On the Fly: Periodicals Wrap-Up
Subscribe for More Information | | | June 14, 2013 | | 13:39 EDT | | DELL | Carl Icahn may drop bid for Dell, CNBC says
CNBC's David Faber, citing sources, says that Carl Icahn is increasingly likely to drop his bid for Dell. | | | 09:05 EDT | | JPM | JPMorgan says One Equity Partners to raise future funds independently
JPMorgan Chase announced that the partners of One Equity Partners, the firm’s private equity unit, will begin to raise their next fund from an external group of limited partners and become independent from JPMorgan Chase. One Equity Partners currently manages approximately $4.5B of investments for JPMorgan Chase in direct private equity transactions and has produced strong returns over the last twelve years. OEP will continue to make direct investments for JPMorgan Chase for an interim period. OEP will still manage the existing group of portfolio companies for JPMorgan Chase to maximize value for the firm. | | |
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