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Stock Market & Financial Investment News

News Breaks
August 11, 2014
16:50 EDTMFRM, EPB, WAC, KMR, INO, KMP, CQB, KMIOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory but were never able to gain any upside momentum. There was little to account for the initial move other than no change to the status quo for Israel and Russia. The averages moved in a narrow range but managed to stay on the plus side into the close, though in lackluster fashion. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced $3.25, or 9.0%, to $39.37 after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). The total transaction has a value of about $70B and the combined entity will be the largest energy infrastructure company in North America and the third largest energy company overall with an estimated enterprise value of approximately $140B, the company said. Afterward, Kinder Morgan was upgraded to Buy from Neutral at BofA Merrill Lynch, though Wells Fargo viewed the plans as mixed near-term. Wells believes the deal helps address some of the structural issues that have been pressuring Kinderís valuation in recent quarters, but it believes itís unclear how the market will ultimately value the new structure and the firm kept its Market Perform rating on all four stocks involved. MAJOR MOVERS: Among the notable gainers was salad and banana distributor Chiquita Brands (CQB), which jumped $3.04, or 30.22%, to $13.10 to close above the $13 per share takeover offer announced by Cutrale Group and the Safra Group. Note that Chiquita previously agreed to combine with Fyffes plc in a stock-for-stock transaction. Also higher was Mattress Firm (MFRM), which advanced $6.52, or 13.58%, to $54.53 after reporting preliminary second quarter results that beat expectations and raising it fiscal year outlook. Among the noteworthy losers following their earnings reports were Walter Investment (WAC), which fell $3.52, or 12.45%, to $24.75, and Inovio (INO), which dropped 99c, or 9.94%, to $8.97. INDEXES: The Dow edged up 16.05, or 0.1%, to 16,569.98, the Nasdaq gained 30.43, or 0.7%, to 4,401.33, and the S&P 500 rose 5.33, or 0.28%, to 1,936.92.
News For KMI;CQB;MFRM;INO;WAC;KMP;KMR;EPB From The Last 14 Days
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March 26, 2015
09:51 EDTMFRM40 North Management lowers stake in Mattress Firm to 6.77% from 7.87%
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March 25, 2015
07:16 EDTINOPiper Jaffray and the Alliance for Regenerative Medicine co-host conference
3rd Annual Regenerative Medicine Investor Day is being held in New York on March 25 with webcasted company presentations to begin at 8 am; not all company presentations may be webcasted. Webcast Link
March 24, 2015
12:55 EDTMFRMMattress Firm management to meet with SunTrust
Meeting to be held in New York on March 25 hosted by SunTrust.
March 23, 2015
10:01 EDTKMIOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Allied World (AWH) initiated with a Market Perform at Keefe Bruyette... Capnia (CAPN) initiated with a Buy at Maxim... Catamaran (CTRX) initiated with a Buy at Mizuho... CyberArk (CYBR) initiated with a Buy at BofA/Merrill... Inotek Pharmaceuticals (ITEK) initiated with a Buy at Canaccord... Kinder Morgan (KMI) initiated with a Buy at Argus... MGM China (MCHVF) initiated with a Market Perform at Bernstein... Maxim Integrated (MXIM) initiated with a Buy at Summit Research... Melco Crown (MPEL) initiated with an Outperform at Bernstein... Microsemi (MSCC) initiated with an Outperform at BMO Capital... Sands China (SCHYY) initiated with an Outperform at Bernstein... Tetraphase (TTPH) initiated with a Buy at Nomura... Vista Outdoor (VSTO) initiated with a Sector Weight at KeyBanc... Wynn Macau (WYNMF) initiated with a Market Perform at Bernstein.
08:46 EDTKMIKinder Morgan initiated with a Buy at Argus
Target $50.
06:53 EDTINOInovio to host investor day
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March 20, 2015
10:07 EDTMFRMHigh option volume stocks
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March 19, 2015
18:58 EDTMFRMOn The Fly: After Hours Movers
UP AFTER EARNINGS: Mattress Firm (MFRM), up 5.2%... New York & Company (NWY), up 3.1%... Rally Software (RALY), up 1.4%... Nike (NKE), up 4.2%... Youku Tudou (YOKU), up 1%. ALSO HIGHER: Prothena (PRTA), up 39.3% after reporting positive results from Phase 1 study of PRX002... SeaWorld (SEAS), up 1% after naming Joel Manby as president and CEO. DOWN AFTER EARNINGS: AK Steel (AKS), down 9.1%.
16:08 EDTMFRMMattress Firm sees FY15 adjusted EPS $2.50-$2.70, consensus $2.77
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16:05 EDTMFRMMattress Firm reports Q4 adjusted EPS 41c, consensus 48c
Reports Q4 revenue $598.3M, consensus $562.52M. Reports Q4 comparable-store sales growth of 1.9%. Reports adjusted cash EPS 73c.
15:19 EDTMFRMNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include Nike (NKE), consensus 84c... Mattress Firm (MFRM), consensus 48c.
March 18, 2015
11:44 EDTWACOcwen reopens after announcing MSR deal with Walter Investment
Ocwen (OCN) shares are up fractionally shortly after reopening for trading.
11:37 EDTWACWalter Investment jumps 7% after subsidiary agrees to buy MSRs from Ocwen
11:36 EDTWACOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
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11:35 EDTWACOcwen intends to sell $9.6B portfolio of mortgage servicing rights to Green Tree
March 16, 2015
08:14 EDTINOInovio, academic collaborators receives $16M HIV grant from NIAID
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06:35 EDTINOInovio reports Q4 EPS (12c), consensus (10c)
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