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Stock Market & Financial Investment News

News Breaks
February 13, 2013
07:37 EDTLGFLionsgate strong quarterly results should continue, says Cowen
Cowen noted Lionsgate posted solid Q3 results and believes Q4 is continuing on the same path. The firm cited solid overall box office performance, domestic home video release, international revenues, and contribution from the television production segment. Shares are Outperform rated.
News For LGF From The Last 14 Days
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September 29, 2014
16:22 EDTLGFOn The Fly: Closing Wrap
Stocks on Wall Street opened sharply lower, as the volatility which was seen last week carried over. It was the sixth session in a row, and the eighth in the last ten, in which the Dow experienced a triple digit move. The early weakness was attributed to unrest in Hong Kong as pro-Democratic protesters forced the closing of 17 banks and many small businesses. The market was able to shrug off the early weakness and pared its losses, with the Nasdaq eventually crossing into positive territory for a brief time. The averages all ended the day in the red, but were much improved from the lows they hit right after the opening bell. ECONOMIC EVENTS: In the U.S., consumer spending increased 0.5% last month, which was a bit better than expected. Personal incomes increased 0.3% in August, which matched the consensus forecast of economists. The National Association of Realtors' pending home sales index fell 1.0% to 104.7 in August, which was worse than the expected drop of 0.5%. In Asia, Hong Kong's Hang Seng Index dropped nearly 2% as riot police advanced on protesters in the deepest unrest since China took back control of the colony two decades ago. In Europe's bond market, Italian and Spanish yields rose as Italy's Prime Minister Matteo Renzi faced rumors that he could be pressured to quit and leaders in Spain's Catalonia region called for a referendum to be held on independence. COMPANY NEWS: DreamWorks Animation (DWA) rallied $5.82, or 26.03%, to $28.18 after The Hollywood Reporter said yesterday that the company is in talks to be acquired by Japanese telecom company Softbank (SFTBF), the parent of U.S. wireless carrier Sprint (S). Softbank is negotiating to buy DreamWorks for $32 per share, or $3.4B, the report said, citing an unnamed source, though CNBC's David Faber and entertainment industry publication Variety were cautious about whether a deal will be consummated. Lionsgate (LGF), another movie maker recently linked to Softbank by The New York Post and to Vivendi (VIVHY) by Reuters, also rose $1.79, or 5.74%, to $32.99. MAJOR MOVERS: Among the notable gainers were a number of companies that agreed to be acquired. Ambit Biosciences (AMBI) surged $7.14, or 87.07%, to $15.34 after Daiichi Sankyo agreed to acquire all of its outstanding shares for $15 per share in cash plus one Contingent Value Right based on commercialization related milestones. Einstein Noah (BAGL) advanced $6.76, or 50.49%, to $20.15 after the bagel shop owner agreed to be acquired by JAB Holding Company for $20.25 per share in cash. Athlon Energy (ATHL) rose $11.59, or 24.8%, to $58.32 after striking a deal to be bought by Canadian energy giant Encana (ECA), which also gained 46c, or 2.18%, to $21.59 following the deal announcement. Among the noteworthy losers was Civeo Corporation (CVEO), which dropped $12.63, or 49.59% to $12.84 after the company decided against conversion to a real estate investment trust, or REIT, and said it will continue as C corporation and redomicile to Canada. Also lower were shares of Ford (F), which fell $1.22, or 7.47%, to $15.11 after the automaker said during its investor day presentation that it won't achieve its previously stated 2014 profit goal and now sees pre-tax profit of $6B for the fiscal year. INDEXES: The Dow slipped 41.93, or 0.25%, to 17,071.22, the Nasdaq fell 6.34, or 0.14%, to 4,505.85, and the S&P 500 dropped 5.05, or 0.25%, to 1,977.80.
13:53 EDTLGFVivendi may look at deal for Lionsgate, Reuters says
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12:18 EDTLGFOn The Fly: Midday Wrap
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10:32 EDTLGFDreamWorks jumps after report of Softbank takeover talks
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09:36 EDTLGFDreamWorks potential takeout positive for content space, says Stifel
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September 19, 2014
07:25 EDTLGFSoftbank to spend some of Alibaba windfall in Hollywood, NY Post says
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September 18, 2014
12:42 EDTLGFLionsgate acquires worldwide distribution rights for 'The Smosh Movie'
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September 17, 2014
13:32 EDTLGFCodeblack Films enters multi-picture first look agreement with Datari Turner
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