New User:

-or-
Username:
Password:
Forgot your password?

Stock Market & Financial Investment News

News Breaks
August 4, 2014
16:42 EDTTREX, PDCE, INSM, KORS, ESIOn The Fly: Closing Wrap
Stocks on Wall Street remained near the flat line until about 1 pm ET and then they began to drift higher. The buyers emerged during the afternoon and pushed the averages up ahead of the next round of corporate earnings reports due out after the close. ECONOMIC EVENTS: In the U.S., no major economic data was reported. On the international front, Portugal's central bank announced a bailout of the nation's largest listed lender, Banco Espirito Santo. COMPANY NEWS: Shares of luxury accessories maker Michael Kors (KORS) fell $4.82, or 5.89%, to $77.01 after the company reported stronger than expected results for the first quarter of its fiscal 2015, but said that its gross margins had dropped during the quarter compared to the same period of last year. The company also estimated that its gross margin would drop in fiscal 2015. Analysts were divided on the company's outlook following the results, with Sterne Agee contending that "red flags abound" for the company while Bank of America Merrill Lynch saying that the "impressive momentum" of Michael Kors should continue and that today's pullback in the stock has created a buying opportunity. MAJOR MOVERS: Among the notable gainers was decking product maker Trex (TREX), which advanced $4.33, or 15.1%, to $33.00 after its better than expected earnings. Also higher was PDC Energy (PDCE), which rose $6.63, or 12.34%, to $60.34 after Colorado governor John Hickenlooper struck a deal that will eliminate all ballot initiatives, proposed for November, that had sought to restrict hydraulic fracturing, or "fracking," in the state. Among the noteworthy losers was ITT Educational (ESI), which plunged $6.59, or 46.05%, to $7.72 after the company disclosed that its sale leaseback agreement with College Portfolio Buyer had been terminated. Also lower were shares of Insmed (INSM), with Piper Jaffray attributing today's $4.59, or 26.61%, pullback in its shares to $12.66 to the company not immediately filing for U.S. approval of Arikayce in cystic fibrosis and nontuberculous mycobacteria in concert with its European filing for the drug. INDEXES: The Dow rose 75.91, or 0.46%, to 16,569.28, the Nasdaq advanced 31.25, or 0.72%, to 4,383.89, and the S&P 500 gained 13.84, or 0.72%, to 1,938.99.
News For KORS;PDCE;ESI;INSM;TREX From The Last 14 Days
Sign up for a free trial to see the rest of the stories you've been missing.
1 | 2 | all recent news | >>
May 19, 2015
06:00 EDTKORSStocks with implied volatility above IV index mean; KORS ALTR
Stocks with implied volatility above IV index mean; Michael Kors (KORS) 38, Altera (ALTR) 72 according to iVolatility.
May 18, 2015
10:01 EDTPDCEOn The Fly: Analyst Initiation Summary
Subscribe for More Information
05:49 EDTPDCEPDC Energy initiated with a Conviction Buy at Goldman
Target $77.
May 15, 2015
09:31 EDTINSMAmerican Thoracic Society to hold a conference
ATS 2015 Conference is being held in Denver on May 15-20.
06:04 EDTESIITT Educational implied volatility of 190 at upper end of index
05:52 EDTKORSStocks with implied volatility above IV index mean; KORS SPLS
Subscribe for More Information
May 14, 2015
16:54 EDTESIITT Educational says SEC case 'will not withstand judicial scrutiny'
ITT Educational disclosed the following in a filing: "On May 12, a complaint was filed by the SEC against ITT Educational Services and its CEO and CFO in the United States District Court for the Southern District of Indiana under the following caption: United States Securities and Exchange Commission v. ITT Educational Services, Inc., Kevin M. Modany and Daniel M. Fitzpatrick. The complaint relates to the matters addressed in the Wells notice that the company previously received and disclosed. The complaint is a civil enforcement action and alleges that the defendants engaged in a fraudulent scheme and course of business and made various false and misleading statements and omissions to defraud the company’s investors. The company was surprised by this action and disappointed that the Commission allowed this matter to go forward despite fundamental flaws in their case. The SEC does not credit the findings of the Audit Committee investigation that disputed key SEC allegations. The SEC ignored the fact that the very auditors that were allegedly 'misled' stayed on as the company’s auditors, even after being informed of the SEC’s allegations, and later delivered an audit opinion. Nowhere in the complaint is there a citation to a document or email that evidenced any intent to deceive anyone. The company believes that the SEC could not do so because there was no intent to deceive. The company believes there are many other major flaws in the SEC’s case. In essence, the company believes this is little more than a “fraud by hindsight” case that will not withstand judicial scrutiny. The company remains of the belief that any perceived shortcomings related to the complex accounting matters involved were acts taken in good faith and are being mischaracterized by the SEC as deception. Nevertheless, the company takes seriously the SEC action and will vigorously defend itself against the unjustified charges. Moreover, the company’s Board of Directors is heightening its oversight of the process leading up to the filing of the company’s late Form 10-K for 2014. It is expected that the Form 10-K with audited financials will be filed in a matter of weeks, though no assurance can be given that the current estimated timetable will be met."
13:44 EDTKORSMichael Kors weekly volatility elevated into Q4 and outlook
Subscribe for More Information
13:28 EDTKORSIncreasing equity options volume
Increasing equity options volume: FCX UPS KSS CHK CSCO AVP YOKU CALM KORS
10:00 EDTKORSOn The Fly: Analyst Initiation SummaryT
Today's noteworthy initiations include: Advaxis (ADXS) initiated with a Buy at MLV & Co.... Akebia (AKBA) initiated with a Buy at Brean Capital... CarMax (KMX) initiated with a Buy at Sterne Agee CRT... Coach (COH) initiated with a Neutral at Wedbush... Euronav NV (EURN) initiated with an Outperform at Credit Suisse... Franco-Nevada (FNV) initiated with an Outperform at Macquarie... Kate Spade (KATE) initiated with an Outperform at Wedbush... Lumber Liquidators (LL) initiated with a Perform at Oppenheimer... Michael Kors (KORS) initiated with a Neutral at Wedbush... National Instruments (NATI) initiated with an Overweight at Stephens... Royal Gold (RGLD) initiated with an Outperform at Macquarie... Spectra Energy Partners (SEP) initiated with a Buy at Janney ... Spectra Energy (SE) initiated with a Buy at Janney Capital... Tribune Publishing (TPUB) initiated with a Buy at Sterne Agee CRT.
06:33 EDTKORSMichael Kors initiated with a Neutral at Wedbush
Subscribe for More Information
05:49 EDTESIStocks with implied volatility movement; ESI BRCM
Subscribe for More Information
May 12, 2015
16:25 EDTESIOn The Fly: Top stock stories for Tuesday
Stocks began the session deep in negative territory as bond yields in Europe and the U.S. were moving higher. The market saw its lows shortly after the open and soon began to recapture some of its losses. By noon, the losses were cut in half and the Dow made it all the way back to positive ground by the afternoon. Unable to gather any upside momentum, the rally stalled and the averages limped into the close. ECONOMIC EVENTS: In the U.S., the National Federation of Independent Business' small business optimism rose 1.7 points to 96.9 in April, versus expectations for a 96.0 reading. The JOLTs report showed job openings fell 150K to 4.99M in March, versus expectations for 5.11M openings. The 10-year U.S. Treasury yield climbed at high as 2.37% earlier in the session, which was its highest intraday mark since last November, before easing back by midday. Outside of the U.S., bond yields surged on 10-year notes in Japan, Italy, Spain, Portugal, and Germany. COMPANY NEWS: Shares of AOL (AOL) advanced $7.93, or 18.62%, to $50.52 after Verizon (VZ) agreed to buy the company for $50 per share in a deal valued at $4.4B. Verizon's John Stratton, speaking at the Jefferies 2015 Global TMT Conference, said the AOL deal was primarily about ad technology and Re/code reported that "one scenario" the service has heard about is that Verizon plans to spin off some or all of the content operations it is acquiring by buying AOL, such as the Huffington Post. Yahoo (YHOO) also rose 24c, or 0.55%, to $43.84, as Cantor Fitzgerald analyst Youssef Squali said he now views it as the "last remaining large scale digital media company of its kind." MAJOR MOVERS: Among the notable gainers was Pall Corp. (PLL), which advanced $19.31, or 19.44%, to $118.62 after The Wall Street Journal reported that the company is near a possible sale and listed Danaher (DHR) and Thermo Fisher (TMO) as potential buyers. Also higher was Pain Therapeutics (PTIE), which gained 68c, or 35.05%, to $2.62 after announcing that a study of its lead drug candidate, that is specifically designed to discourage certain common methods of drug tampering and misuse, demonstrated with statistical significance that both intact and chewed Remoxy were less "liked" than immediate-release oxycodone on the two primary endpoints of Drug Liking and Drug High. Among the noteworthy losers was ITT Educational Services (ESI), which plunged $1.75, or 43.53%, to $2.27 after the SEC announced that it had charged the company, along with its CEO and CFO, with fraud. Also lower were shares of NewLink Genetics (NLNK), which dropped $15.59, or 29.9%, to $36.55 after stating that it would continue its flagship IMPRESS trial as planned despite disclosing the FDA did not endorse management's plan to change the statistical analysis plan as defined in the original protocol. INDEXES: The Dow fell 36.94, or 0.2%, to 18,068.23, the Nasdaq slid 17.38, or 0.35%, to 4,976.19, and the S&P 500 dropped 6.21, or 0.29%, to 2,099.12.
12:42 EDTESIOptions with increasing put volume and implied volatility
Options with increasing put volume and implied volatility: ESI VIPS WETF
12:42 EDTESIITT Educational disagrees with SEC position
Subscribe for More Information
12:37 EDTESIFor-profit education stocks slide after SEC charges ITT with fraud
Subscribe for More Information
11:32 EDTESIITT Educational down 45% after SEC announces fraud charges against company
10:23 EDTESISEC announces fraud charges against ITT Educational Services
Subscribe for More Information
May 11, 2015
08:04 EDTPDCECredit Suisse to hold a symposium
Subscribe for More Information
07:46 EDTINSMInsmed price target raised to $25 from $20 at Cowen
Subscribe for More Information
1 | 2 | all recent news | >>

Sign up for a free trial to see the rest of the stories you've been missing.

I agree to the theflyonthewall.com disclaimer & terms of use