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News Breaks
November 19, 2012
12:13 EDTARUN, TSN, WMGI, LOW, CSCO, BMTIOn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday as sales of existing homes rose in October and a gauge of homebuilder sentiment climbed to a six-year high in November. Stocks began the session higher as investors appeared to be more optimistic that congressional leaders could agree on compromises to solve the fiscal cliff dilemma. The market picked up momentum shortly after the open following the impressive real estate data. The market has been in a holding pattern for about the last two hours and continues to trade in a narrow range... ECONOMIC EVENTS: In the U.S., the National Association of Realtors said that resales of existing homes climbed 2.1% last month to a seasonally adjusted annual rate of 4.79M units, beating forecasts for sales to have declined 0.2% from the prior month. The housing market index for November, a barometer of homebuilder sentiment, rose to 46, versus expectations for a flat 41 reading... COMPANY NEWS: Lowe's (LOW) reported earnings per share with charges that met expectations and revenue that beat consensus, sending shares up 7%... MAJOR MOVERS: Among the notable gainers was Tyson Foods (TSN), up 8.5% after beating quarterly expectations, raising its regular dividend and declaring a special dividend. Also higher were shares of BioMimetic Therapeutics (BMTI), up 75% after striking a deal to merge with Wright Medical (WMGI). Wright moved lower fractionally following the announcement. Among the other losers was Aruba Networks (ARUN), which retreated a bit over 1% after Cisco (CSCO) bought Meraki, a competitor to Aruba... INDICES: Near noon, the Dow was up 175.09, or 1.39%, to 12,763.40; the Nasdaq was up 50.51, or 1.77%, to 2,903.64; and the S&P 500 was up 22.83, or 1.68%, to 1,382.71.
News For LOW;TSN;BMTI;WMGI;ARUN;CSCO From The Last 14 Days
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November 19, 2015
10:02 EDTLOWLowe's upgraded to Buy from Hold at Zelman
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09:00 EDTARUNAerohive sell-off unwarranted, says JMP Securities
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05:54 EDTCSCOCisco implied volatility of 18 at lower end of index mean range
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November 18, 2015
09:04 EDTLOWLowe's backs FY15 cash flow from operations $5B, CapEx $1.3B
Sees FY15 effective tax rate of 38.1%. The company expects to repurchase $3.8B of stock.
09:04 EDTLOWLowe's says key drivers remain conducive for home improvement through 2017
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09:02 EDTLOWLowe's reports total customer transactions of 213.3M in Q3
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08:57 EDTWMGIWright Medical 4.5M share Spot Secondary priced at $21.10
BofA/Merrill acted as sole book running manager for the offering. For complete Syndicate deal analysis visit The Fly's Syndicate section.
07:59 EDTCSCOUBS to hold a conference
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07:43 EDTWMGIJefferies to hold a conference
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06:05 EDTLOWLowe's sees FY15 EPS about $3.29, consensus $3.28
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06:04 EDTLOWLowe's reports Q3 EPS 80c, consensus 78c
Reports Q3 revenue $14.4B, consensus $14.31B. Reports Q3 SSS up 4.6%.
November 17, 2015
16:30 EDTWMGIWright Medical files to sell 4.5M ordinary shares for holders
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16:19 EDTWMGIWright Medical files to sell ordinary shares for holders, no amount given
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16:01 EDTCSCOOptions Update; November 17, 2015
iPath S&P 500 VIX Short-Term Futures up 1.32 to 21.07. Option volume leaders: GE BAC AAPL FB NFLX SYF WMT CSCO MU SUNE VRX BABA AMZN HD FCX
15:14 EDTLOWLowe's November 72.5 straddle priced for 4.4% movement into Q3
15:13 EDTLOWNotable companies reporting before tomorrow's open
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13:53 EDTLOWEarnings Watch: Lowe's up about 2% over last three months
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12:56 EDTTSNTyson Foods issues voluntary recall of chicken wings
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07:02 EDTLOWLowe's volatility increases into Q3 and outlook
Lowe's November call option implied volatility is at 67, December is at 31, January is at 27; compared to its 52-week range of 16 to 33, suggesting large near term price movement into the expected release of Q3 results on November 18.
November 16, 2015
05:26 EDTCSCOEricsson CEO says no talks with Cisco about merger or acquisition
Ericsson (ERIC) has noted the recent speculation in the press and financial markets regarding an interest by Cisco (CSCO) to acquire Ericsson. On November 9, the two companies announced a global business and technology partnership to create the networks of the future. The partnership announcement was supported by multiple agreements that include commitments to network transformation through reference architectures and joint development, systems-based management and control, a broad reseller agreement, and collaboration in key emerging market segments. President, CEO and member of the board, Hans Vestberg says: "We note that there are rumors in the market regarding an acquisition of Ericsson by Cisco possibly spurred by the recent announcement of a partnership between our two companies. The talks leading up to the partnership announcement have been ongoing for a year and there have not been any discussions whatsoever on a merger or an acquisition."
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