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Stock Market & Financial Investment News

News Breaks
August 4, 2014
09:14 EDTDO, NE, ESV, AMGN, DHI, PIKE, HK, HIMX, TKMR, RIG, INSM, ZGNX, NNVC, KORSOn The Fly: Pre-market Movers
HIGHER: Pike (PIKE), up 48% after signing a definitive merger agreement under which Court Square Capital Partners and the company's chairman and CEO will acquire the company in a transaction in which each of the company's shareholders will receive $12.00 per share cash... Amgen (AMGN), up 3.5% after the company reported its Phase 3 clinical trial ASPIRE met its primary endpoint of progression-free survival... NanoViricides (NNVC), up 9% after starting anti-ebola virus drug development program. Tekmira (TKMR), which also has an anti-Ebola treatment under development, is up 8.8%... D.R. Horton (DHI), up 2% after Barron's says analyst see the stock reaching $31.00 per share in a year... Himax (HIMX), up 4% after upgraded at Lake Street. LOWER: Michael Kors (KORS), down 3.8% after Q2 guidance miss expectations, company says its sees FY15 gross margins to be down 50 bps... Zogenix (ZGNX), down 7% after resignation of Chief Commercial Officer Scott Shively... Transocean (RIG), down 2.3% after downgraded to Sell at Deutsche Bank. The firm also downgraded Diamond Offshore (DO) and Ensco (ESV) to Sell this morning and lowered its rating on Noble Corp. (NE) to Hold from Buy... Halcon Resources (HK), down 4.8% after downgraded at Morgan Stanley... Insmed (INSM), down 27% after announcing that, following discussions with European regulatory authorities, it intends to file by the end of 2014 a Marketing Authorization Application with the EMA for Arikayce.
News For KORS;RIG;PIKE;NNVC;TKMR;DHI;ZGNX;HIMX;AMGN;INSM;HK;DO;ESV;NE From The Last 14 Days
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November 10, 2014
16:14 EDTHKHalcon Resources reports Q3 EPS 3c, consensus 6c
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15:54 EDTAMGNAmerican Society of Nephrology to hold a conference
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15:26 EDTDHINotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's market open, with earnings DR Horton (DHI), consensus 48c; Sabre (SABR), consensus 26c; AECOM Technology (ACM), consensus 82c; CST Brands (CST), consensus 57c; Qiwi plc (QIWI), consensus 36c; INSYS Therapeutics (INSY), consensus 29c.
15:26 EDTHKNotable companies reporting after market close
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14:22 EDTDHID.R. Horton volatility elevated into Q4 and outlook
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13:59 EDTDHID.R. Horton technical comments before earnings
In the prior three months the shares have outperformed, trading up over 15%. Over the prior year the shares have traded in a range largely contained by $20 at the low and $25 at the high. Ahead of earnings, the stock is trading closer to the top of the range. When looking at a long-term chart, 10-year basis, the price action from March 2013 until now appears to be a symmetrical triangle in formation. That pattern would be a bullish continuation pattern given the uptrend that preceded its formation. On strong news and outlook, a move above $25 would trigger that pattern. Upside objectives could be at resistance at $25.97, $27.75, and $29.22. If the news disappoints, the lower bound of the triangle could be tested at the $20 area. A breakdown below $20 would void the pattern. Support levels that could become downside objectives would be at $18.99, $17.60, and $16.32.
11:35 EDTKORSStocks with call strike movement; WFM KORS
Whole Foods (WFM) February 52.5 call option implied volatility increased 2% to 28, Michael Kors (KORS) May 85 call option implied volatility decreased 2% to 31 according to IVolatility.
10:50 EDTTKMRTekmira initiated with a Strong Sell at Glaucus Research
Glaucus Research initiated Tekmira with a Strong Sell and a price target range of $7-$10.Reference Link
09:20 EDTRIGOn The Fly: Pre-market Movers
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09:06 EDTPIKEPike Corp. reports Q1 EPS (7c), one estimate 19c
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05:35 EDTRIGTransocean reports Q3 net ss attributable to controlling interest was $2.22B
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05:25 EDTRIGTransocean reports Q3 adjusted EPS 96c, consensus 83c
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November 7, 2014
18:42 EDTRIGTransocean to issue Q3 earnings release on November 10
On November 7, Transocean issued a press release announcing that it had postponed its third quarter earnings release and conference call previously scheduled for 9:00 a.m. EST, 3:00 p.m. CET, Friday, November 7. The company also announced that it expects its third quarter results to include a non-cash charge of $1.97B related to the impairment of goodwill, and expects an impairment of the Deepwater Rig asset group of $788M due to the deterioration of the market outlook, reflecting the recent decline in dayrates and utilization for this particular asset class. Subsequently, also on November 7, the company issued a press release announcing that it intended to issue its earnings release for the third quarter on Monday, November 10, and that it had also rescheduled its quarterly earnings conference call to 8:00 a.m. EST, 2:00 p.m. CET, on Monday, November 10.
17:00 EDTKORSMarket ends week higher after upbeat U.S. data, hint at ECB easing
Stocks finished the week higher and near record levels as several better than expected U.S. economic data points boosted shares. MACRO NEWS: In the U.S., weekly jobless claims, a manufacturing index for October, and factory orders for September all beat expectations. The nonfarm payrolls report showed fewer than expected jobs were added last month, but the figures from the prior two months were upwardly revised... European Central Bank President Mario Draghi said the ECB Governing Council was unanimous in its commitment to use unconventional instruments if needed to boost the euro zone's economy. Meanwhile, some possible "green shoots" emerged in Europe, as France reported that its manufacturing output had risen 0.6% in September versus August. Furthermore, Western European car sales surged 5.5% in October versus the same period a year earlier, Reuters reported, citing industry data. There was, however, some negative news out of Europe, as Germany said that its factory orders had increased just 0.8% in September, following a revised 4.2% slump in August. Economists had expected the orders to jump 2.3%. Also, the European Commission cut its 2014 GDP growth forecast for the EU to 0.8% from its previous forecast for a 1.2% gain. COMPANY NEWS: Tesla (TSLA), Chinese e-commerce giant Alibaba (BABA), Archer Daniels Midland (ADM), International Paper (IP), Whole Foods (WFM), and upscale accessories and apparel maker Kate Spade (KATE) were among the stocks that climbed following their results. Conversely, multi-level marketer Herbalife (HLF), Priceline (PCLN), Michael Kors (KORS), IT security company FireEye (FEYE), and chip maker Qualcomm (QCOM) fell following their quarterly reports... In takeover news, clinical laboratory company LabCorp (LH) said it would buy drug development services company Covance (CVD) for $105.12 per share in cash and stock, and marketing services company Sapient (SAPE) agreed to be acquired by French advertising giant Publicis (PUBGY) for $25.00 per share in cash... Shares of a number of hospital owners, including Tenet Healthcare (THC), Community Health (CYH), and HCA Holdings (HCA) fell after Republicans won control of the U.S. Senate. Republicans have promised to seek to repeal most parts of the Affordable Care Act, which benefits hospitals by reducing the number of uninsured patients that use their services. Additionally, the Supreme Court today agreed to hear a lawsuit challenging the federal government's right to subsidize the health insurance premiums of Americans who buy health insurance through the federal exchange set up by the Act... The Justice Department sued to block the acquisition of Screenvision, which provides solutions related to cinema advertising, by movie theater ad network National CineMedia (NCMI), sending its stock lower. Movie theater operator Carmike Cinemas (CKEC), which owns a 19% “profits interest" in the holding company for Screenvision, also slid following the news. INDEXES: For the week, the Dow is up 1.04% to 17,573.93, the Nasdaq is up 0.03% to 4,632.53, and the S&P 500 is up 0.66% to 2,031.92.
14:09 EDTPIKEMetWest Capital strongly opposes proposed merger of Pike Corp., Court Square
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09:16 EDTRIGOn The Fly: Pre-market Movers
HIGHER: Sears (SHLD), up 22.5% after reporting Q3 same-store sales were flat with prior year, saying company is actively exploring a REIT transaction involving 200-300 owned properties through a rights offering... Gap (GPS), up 2.9% after reporting October same-store sales fell 3%, giving Q3 EPS guidance that beat estimates... Zynga (ZNGA), up 9%, upgraded at Needham following the company's Q3 earnings report... King Digital (KING), up 8.6% after Q3 results top expectations, company announces $150M share repurchase program... ChannelAdvisor (ECOM), up 30% after earnings, guidance, announcing acquisition of U.K. based E-Tale Holdings... Rockwell Medical (RMTI), up 25% after FDA committee recommends Triferic to treat iron loss in certain patients with chronic kidney disease... Repros Therapeutics (RPRX), up 23% following meeting with FDA regarding Androxal NDA filing. LOWER: Salix (SLXP), down 35%, downgraded at Mizuho, Stifel and William Blair after the company reported worse than expected Q3 earnings, gave lower than expected guidance and announced its CFO had resigned... Intercept (ICPT), down 19% after FLINT trial results published... CTI BioPharma (CTIC), down 20% after filing convertible preferred stock offering... Transocean (RIG), down 5% after delaying its Q3 earnings release and conference call, stating the company expects Q3 to include a non-cash charge of $1.97B for impairment of goodwill... General Mills (GIS), down 4% after lowering FY15 outlook. DOWN AFTER EARNINGS: Abercrombie & Fitch (ANF), down 12.6%... Ubiquiti Networks (UBNT), down 17%... Arista Networks (ANET), down 10.5%... First Solar (FSLR), down 6%... Magnum Hunter (MHR), down 2%.
08:11 EDTRIGOptions expected to be active
Options expected to be active @ CBOE: DIS FSLR RIG RMTI SLXP ZNGA PBR SHLD CP CSX NSC NVDA FSLR
08:00 EDTINSMInsmed management to meet with Maxim
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06:20 EDTRIGTransocean delays Q3 earnings release and conference call
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06:19 EDTRIGTransocean expects Q3 to include non-cash charge of $1.97B
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