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Stock Market & Financial Investment News

News Breaks
April 17, 2014
10:27 EDTJPM, GRUBJPMorgan looks to technology startup apps to plan mobile future, Bloomberg says
When it came time to update its mobile banking app, JPMorgan's (JPM) digital chief Gavin Michael studied software created by technology startups, such as Uber and GrubHub's (GRUB) Seamless, for inspiration to give the app a more "simple, human, cohesive" design, according to Bloomberg, citing comments from Michael. Reference Link
News For JPM;GRUB From The Last 14 Days
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July 28, 2015
09:03 EDTGRUBGrubHub sees Q3 revenue $85M-$87M, consensus $85.6M
Sees Q3 adjusted EBITDA $23M-$25M
09:02 EDTGRUBGrubHub reports Q2 non-GAAP EPS 17c, consensus 13c
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July 27, 2015
17:36 EDTGRUBOn The Fly: Top stock stories for Monday
Stocks began the session deep in negative territory, with weakness attributed to the Chinese market suffering its worst one day loss in over eight years. The U.S. indexes remained in the negatives throughout the day as traders prepare for one of the heaviest weeks for this earnings season. ECONOMIC EVENTS: In the U.S., durable goods orders advanced 3.4% in June versus expectations for a 3.2% increase. Excluding transportation items, the core reading was up 0.8% against estimates for a 0.5% gain. In China, the Shanghai composite index fell 8.5% and the Shenzhen composite dropped 7%, with the moves generally attributed to concerns over growth and fears that the government may pull its market support. Note that Dow Jones quoted the country's top securities regulator this morning as saying China plans to increase stock purchases by the state. COMPANY NEWS: Shares of Teva (TEVA) jumped $10.15, or 16.41%, to $72.07 after the generic drugmaker dropped its pursuit of Mylan (MYL), opting instead to acquire Allergan's (AGN) global generic pharmaceuticals business for $40.5B. Allergan shares rose 6.09% for the session, and Mylan fell 14.51% to $56.37 while reiterating its commitment to pursue Perrigo (PRGO), whose shares gained 3.81% to $193.60. MAJOR MOVERS: Among the notable gainers was Wabtec (WAB), which rose $6.59, or 7.21%, to $97.93 after agreeing to buy Faiveley Transport for roughly $1.8B, noting that it expects EPS accretion in 2016. In other M&A news, Magnetek (MAG) finished the session up $17.27, or 53.55%, to $49.52 after Columbus McKinnon (CMCO) agreed to acquire the company for $50 per share, while Beacon Roofing Supply (BECN) jumped $2.62, or 8.71%%, to $32.70 after agreeing to buy Roofing Supply Group at a transaction value of about $1.1B. Also higher were shares of Xueda Education (XUE), which surged 50.63% after Xiamen Insight Investment announced a deal to purchase the company for $5.50 per American Depository Share. Xueda's positive move came in stark contrast to numerous Chinese stocks traded in New York, with Baidu (BIDU) slipping 4.16% and Alibaba (BABA) losing 2.01% after China's Shanghai composite index plunged overnight. Also lower was McGraw Hill Financial (MHFI), declining $6.01, or 5.69%, to $99.59 after agreeing to acquire SNL Financial for roughly $2.225B in cash. Additionally, GrubHub (GRUB) lost 8.37% to $30.99 following a downgrade from Cowen citing competitive concerns and market saturation. INDEXES: The Dow fell 127.94, or 0.73%, to 17,440.59, the Nasdaq lost 48.85, or 0.96%, to 5,039.78, and the S&P 500 declined 12.01, or 0.58%, to 2,067.64.
15:35 EDTGRUBGrubHub plummets as analyst sees first-mover advantage 'eroding'
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15:03 EDTGRUBNotable companies reporting before tomorrow's open
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11:41 EDTGRUBGrubHub tumbles, levels to watch
Shares are off the earlier lows, last at $30.48 and down 9.8% on the day. Cowen earlier cut its rating on the stock to Market Perform and reduced its price target to $30 on competitive and EBITDA concerns. At current price the 52-week low at $29.68 is next support. The company is scheduled to report earnings tomorrow.
10:15 EDTJPMJPMorgan breaks support, levels to watch
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10:00 EDTGRUBOn The Fly: Analyst Downgrade Summary
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09:54 EDTGRUBGrubHub pullback an overreaction, says Stifel
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07:20 EDTGRUBGrubHub downgraded to Market Perform from Outperform at Cowen
Cowen downgraded GrubHub to Market Perform form Outperform on competitive concerns and EBITDA risk on investments to regain competitiveness. Cowen lowered its price target to $30 from $39 on GrubHub shares.
06:26 EDTJPMSymphony Communication eyes $1B funding round, WSJ reports
Symphony Communication Services, an instant-messaging software company backed by Wall Street firms including Goldman Sachs (GS), is eyeing an investment round that may value it at as much as $1B, the Wall Street Journal reports, citing people familiar with the matter. The startup is canvassing a range of possible new investors, including venture-capital funds and additional financial firms, the report says. Symphony also wants funds from its existing backers, including Goldman, Morgan Stanley (MS), JPMorgan Chase (JPM), and BlackRock (BLK), the report says. Reference Link
July 23, 2015
07:16 EDTJPMChase Card Services, Southwest announce extension to co-branded card agreement
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07:13 EDTJPMJPMorgan management to meet with Deutsche Bank
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July 22, 2015
06:09 EDTJPM4 arrested men suspected of JPMorgan hacking, NYT reports
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July 21, 2015
19:23 EDTJPMJPMorgan Chase to expand into Washington D.C., NY Post says
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16:13 EDTJPMJPMorgan releases results of 2015 Dodd-Frank Stress Test
Common Equity Tier 1 ratio would be 8.1% in severe adverse scenario and Tier 1 risk-based capital ratio would be 9.6%. Reference Link
08:35 EDTJPMVarian Medical signs agreement to operate first proton facility in New York
Varian Medical Systems (VAR) announced that it has entered into an agreement with New York Proton Management, a consortium of leading New York healthcare institutions including Memorial Sloan Kettering Cancer Center, Mount Sinai Health System, Montefiore Health System, and ProHEALTH Medical Management formed to operate The New York Proton Center, the first proton facility in New York State. Varian will provide the center, which will have four treatment rooms and a research room, with its ProBeam system, as well as 10 years of service for approximately $115M. The center, which will be located in Manhattan, is expected to open for treatment in the first half of 2018. Varian expects to book the equipment portion of the order in Q4 with the remainder of the order to be booked in accordance with the company's policies over the term of the agreement. Under an agreement with MM Proton I, LLC, the project developer, Varian's international subsidiary in Switzerland will provide $91.5M in project financing, including a six-and-half-year $73M senior first lien loan at 9% interest and a six-and-half-year $18.5M subordinate loan at up to 13.5% interest. Other lenders for the $242.7M in total project loans include JPMorgan Chase Bank (JPM) and an affiliate of The Goldman Sachs Group (GS). The project facility is managed by Murphy & McManus, a Boston-based developer of healthcare and life science facilities and Norton Travis of NLT Advisors served as project coordinator on behalf of the consortium.
07:48 EDTGRUBGrubHub weakness a buying opportunity, says Brean Capital
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July 20, 2015
13:03 EDTJPMFed proposes final rule on capital surcharges for largest U.S. banks
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07:16 EDTJPMJPMorgan boosts Spanish bond holdings amid Greek deal, Bloomberg says
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