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Stock Market & Financial Investment News

News Breaks
July 2, 2014
12:54 EDTJPM, STZ, SFLY, STEM, DAL, VITC, KR, CAMPOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday after ADP's hiring report gave some reassurance that tomorrow's monthly non-farm payroll report report may be a strong one. Despite ADP's employment change report soundly beating the consensus forecast, stock index futures showed little reaction, leading to a quiet open for the broader market. The averages have moved in a narrow range since the open and have done so on light volume. ECONOMIC EVENTS: Payroll provider ADP estimated that U.S. companies added 281,000 workers to their payrolls in June, which was well above the consensus 210,000 forecast. Factory orders fell 0.5% in May, versus the forecast for them to be down 0.4%. COMPANY NEWS: JPMorgan Chase (JPM) chairman and CEO Jamie Dimon announced to employees and shareholders that he has been diagnosed with throat cancer. "The good news is that the prognosis from my doctors is excellent, the cancer was caught quickly, and my condition is curable," Dimon stated, adding that he will be able to continue to be actively involved in the business and will continue to run the company as normal... Shares of beer and wine maker Constellation Brands (STZ) advanced 3% after after its quarterly results beat expectations and the company raised its FY15 earnings view. MAJOR MOVERS: Among the notable gainers was online healthy living products retailer Vitacost.com (VITC), which jumped 27% after grocer Kroger (KR) agreed to buy the company for $280M, or $8.00 per share. Also higher was StemCells (STEM), which rose 15% after Brinson Patrick initiated coverage of the stock with an Outperform rating and $7 price target, saying it expects the company to have robust Phase II data over the next 24 months for its neural stem cells in both chronic spinal cord injury and geographic atrophy age-related macular degeneration. Another stock trading higher was Shutterfly (SFLY), which gained 14% after Bloomberg, citing sources, said the company has hired investment bank Qatalyst Partners to help it potentially sell itself. Among the noteworthy losers was CalAmp (CAMP), which fell 11% after reporting quarterly results and second quarter guidance that missed analysts' consensus estimates. Also lower were shares of Delta Air Lines (DAL), which fell 5% after reporting its passenger revenue per available seat mile, or PRASM, rose 4.5% in June and noting that corporate and domestic strength offset lower than expected international yields driven by industry-wide capacity increases and lower business demand to Latin America due to the World Cup. After Delta's report, Cowen suggested using the associated weakness in airline stocks as a buying opportunity. INDEXES: Near midday, the Dow was up 14.66, or 0.09%, to 16,970.73, the Nasdaq was up 4.68, or 0.1%, to 4,463.33, and the S&P 500 was up 0.91, or 0.05%, to 1,974.23.
News For JPM;STZ;SFLY;STEM;DAL;VITC;KR;CAMP From The Last 14 Days
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August 28, 2014
08:12 EDTJPMJPMorgan says not seeing 'unusual fraud,' safeguarding information, WSJ reports
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05:55 EDTJPMHackers targeted JPMorgan Chase, 'at least' four other banks, NY Times reports
According to four sources, JPMorgan Chase and "at least" four others were targeted by hackers in a series of attacks this month, the New York Times reports. Hackers infiltrated the computer networks of some banks and stole checking and savings account information from clients, two separate sources say. Security experts and government officials say it is unclear whether Russian hackers are to blame for the attacks. Reference Link
August 27, 2014
15:37 EDTJPMFBI investigating whether Russia involved with JPMorgan hacking, Bloomberg says
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15:20 EDTJPMHackers stole data from JPMorgan, another U.S. bank this month, Bloomberg says
08:00 EDTJPMSEC seen completing rules on MBS detail disclosures, WSJ says
The Securities and Exchange Commission is expected to complete rules requiring banks and other financial institutions to give investors greater detail about the quality of mortgages and other loans pooled into bonds known as asset-backed securities, reported The Wall Street Journal. Publicly traded big U.S banks include Bank of America (BAC), Citigroup (C), Goldman Sachs (GS), JPMorgan (JPM), Morgan Stanley (MS), U.S. Bancorp (USB) and Wells Fargo (WFC). Reference Link
August 26, 2014
15:58 EDTKRKroger: Food 4 Less and unions reach tentative agreement
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August 21, 2014
08:31 EDTJPMMorgan Stanley, JP Morgan selected by Shake Shack to lead IPO, Reuters says
JP Morgan (JPM) and Morgan Stanley (MS) have been picked by Shake Shack to lead the fast-food restaurant chain's IPO, sources tell Reuters. The offering could come as early as this year. Reference Link
06:43 EDTJPMRegulators up bank warning efforts for poor risk assessment, Reuters says
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August 20, 2014
18:29 EDTJPMBofA, JPMorgan weigh plans to raise salaries for junior bankers, Bloomberg says
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13:23 EDTSFLYShutterfly climbs higher after Hellman, others submit acquisition offers
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12:37 EDTSFLYOn The Fly: Midday Wrap
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11:47 EDTSFLYShutterfly more likely to be acquired by private equity firm, says RW Baird
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10:40 EDTSFLYShutterfly calls active on PE firms bidding report
Shutterfly September 55 and 60 calls are active on total call volume of 3K contracts (1K puts) on Hellman & Friedman is one of the private equity firms that submitted takeover bids to acquire, Bloomberg reports. September call option implied volatility is at 38, December is at 32, January is at 27; compared to its 26-week average of 37 according to Track Data. Active call volume suggests traders taking positions for large price movement.
10:29 EDTSFLYHellman among PE firms bidding for Shutterfly, Bloomberg reports
Hellman & Friedman is one of the private equity firms that submitted takeover bids to acquire Shutterfly, Bloomberg reports, citing people with knowledge of the matter. Shutterfly could be valued at about $2B in a sale, but the company has received little interest from technology and Internet names, Bloomberg adds. Shares of online photo service rallied 3%, or $1.31, to $51.15 following the report. Reference Link
10:21 EDTSFLYShutterfly valued at about $2B by bidders, Bloomberg reports
10:20 EDTSFLYHellman & Friedman submitted bid to acquire Shutterfly, Bloomberg says
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August 19, 2014
14:22 EDTKR, VITCGabelli liquidates 8.99% stake in Vitacost.com
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09:07 EDTCAMPCalAmp, Masternaut sign supply agreement
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08:19 EDTDALFAA issues NOTAM restricting U.S. operations from flying over Syria
The Federal Aviation Administration issued a new Notice To Airmen restricting U.S. operators from flying in the Damascus Flight Information Region, which includes all of Syria. The FAA said, "This replaces the current NOTAM in place that strongly advises U.S. operators against flying in that airspace and requires them to contact the FAA before they operate in that airspace. Based on an updated assessment of the risk associated with such operations and the lack of any requests from operators wishing to fly in this airspace, we believe it prudent to prohibit U.S. operators from flying into, out of, and over Syria. The ongoing armed conflict and volatile security environment in Syria poses a serious potential threat to civil aviation. Armed extremist groups in Syria are known to be equipped with a variety of anti-aircraft weapons which have the capability to threaten civilian aircraft. Opposition groups have successfully shot down Syrian military aircraft using these anti-aircraft weapon systems during the course of the conflict. Opposition elements have previously warned civilian air carriers against providing service to Syria. Due to the presence of anti-aircraft weapons among the extremist groups and ongoing fighting in various locations throughout Syria, there is a continuing significant potential threat to civil aviation operating in Syrian airspace." Publicly traded companies in the airline industry include American Airlines (AAL), Delta Air Lines (DAL), JetBlue (JBLU), Southwest (LUV) and United Continental (UAL).
August 18, 2014
08:02 EDTKR, VITCKroger completes merger with Vitacost.com
Kroger (KR) and Vitacost.com (VITC) announced the successful completion of Kroger's tender offer to purchase all outstanding shares of common stock of Vitacost.com for $8.00 per share in cash. The tender offer expired at 5:00 p.m., Eastern Daylight Time, on August 15, 2014. Kroger expects to complete the acquisition of the remaining eligible Vitacost.com shares not acquired in the tender offer later today through a merger under Section 251h of the General Corporation Law of the State of Delaware. Following completion of the merger, Vitacost.com shares will cease to be traded on the NASDAQ Global Market, which is expected to take effect later today.
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