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Stock Market & Financial Investment News

News Breaks
August 8, 2014
12:34 EDTRPTP, MELI, NWSA, IRG, NVDA, MYL, MCDOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday despite the U.S. military having taken action in Iraq. Stock futures were sharply lower overnight but improved during the pre-market trading session, leading to higher open for the broader market. The move came after the president confirmed that U.S. forces made airstrikes in Iraq against ISIS forces. The averages struggled to find their direction in the early going, though momentum built to the upside as the morning continued and each of the equity indexes were firmly in positive ground by the noon hour. ECONOMIC EVENTS: In the U.S., productivity growth rose 2.5% in the second quarter, beating expectations for a rise of 1.6%. Second quarter unit labor costs, however, only increased 0.6%, which was below the 1% consensus forecast. Wholesale inventories increased 0.3% in June, and sales were up 0.2%, which were both below expectations. COMPANY NEWS: Shares of McDonald's (MCD) were virtually unchanged at noon despite the fact the company reported its comparable store sales fell 2.5% in July, which was significantly worse than expected. The fast food giant stated that its U.S. comparable sales were down 3.2% in the month compared to the same month of last year and that comp sales in Asia/Pacific, Middle East and Africa dropped 7.3%. The APMEA region's comparable sales decline reflects the impact of food quality and safety issues at a supplier to McDonald's and other food companies in China which caused a "significant negative impact" to results in China, Japan and certain other markets, the company noted. As a result of the China supplier issue, the company's previously issued global comparable sales forecast for 2014 is now at risk, McDonald's added. MAJOR MOVERS: Among the notable gainers was Raptor Pharmaceuticals (RPTP), which rose 25% after the company reported second quarter results and raised its expectations for sales of its Procysbi drug in this fiscal year. Also higher following their earnings reports were MercadoLibre (MELI), which rose 15%, and NVIDIA (NVDA), which gained nearly 7%. Among the noteworthy losers following their earnings reports were New Corporation (NWSA), which fell over 4%, and Ignite Restaurant Group (IRG), which dropped more than 31%. Also lower was Mylan (MYL), which said yesterday that it was delaying its investor day because it wants to come to its shareholders with a "full picture" for the Abbott (ABT) transaction and the stock was downgraded today to Sector Perform from Outperform at RBC Capital. The company also reported lower than expected Q2 earnings yesterday and gave below consensus Q3 EPS guidance and its stock was down 1.6% near noon. INDEXES: Near midday, the Dow was up 62.16, or 0.38%, to 16,430.43, the Nasdaq was up 8.01, or 0.18%, to 4,342.97, and the S&P 500 was up 6.75, or 0.35%, to 1,916.32.
News For MCD;NVDA;NWSA;MYL;IRG;MELI;RPTP From The Last 14 Days
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August 27, 2015
05:53 EDTNVDAIC demand for notebooks picking up, DigiTimes reports
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August 26, 2015
10:07 EDTMYLMylan initiated with a Buy at Standpoint Research
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10:00 EDTIRGOn The Fly: Analyst Downgrade Summary
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07:52 EDTNVDAUBS to hold a tour
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06:55 EDTMYLMylan shares may sell off on affirmative Perrigo deal vote, says BMO Capital
With Mylan (MYL) set to hold a shareholder vote on August 28 regarding its proposed acquisition of Perrigo (PRGO), BMO Capital analyst David Maris predicts that if the vote goes in Mylan's favor, he expects Perrigo shares to rise and Mylan shares to fall. Afterward, he feels added overhangs, such as Teva's (TEVA) and Abbott's (ABT) shareholdings and potential short-term selling by arbitrageurs, will come into play, further pressuring Mylan shares.
06:18 EDTMCDMcDonald's customization kiosks fail to reach drive-thru customers, QSR reports
McDonald's' new "Create Your Taste" kiosks in all its franchises, allowing for customers to customize their orders, may present a problem since they can only be accessed from inside the restaurants, and McDonald's allegedly receives as much as 70% of its sales from the drive-thru, QSR Magazine reports. The expensive new kiosks are expected to cost franchises between $100,000-$150,000 to install, the report says. "At a cost of $100,000-$150,000 per restaurant to implement, it has a limited upside," Richard Adams, a former McDonald's franchisee, told QSR. "I think this is more a stunt to appeal to Wall Street investors instead of being practical for the restaurant operator." Reference Link
06:01 EDTIRGIgnite Restaurant downgraded to Sell from Neutral at UBS
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05:58 EDTMYLPerrigo CEO says company is 'very active in M&A,' Bloomberg reports
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August 25, 2015
15:02 EDTMYLMylan says USPTO institutes IPR of two Copaxone patents
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14:40 EDTMYLTeva Copaxone patents to be reconsidered by regulators, Bloomberg says
14:16 EDTMYLMylan launches generic version of Pfizer's Zosyn Injection
Mylan (MYL) announced the U.S. launch of Piperacillin and Tazobactam for Injection USP, 3.375g Single-dose Vials, which is the generic version of Pfizer's (PFE) Zosyn Injection. This product is a combination penicillin-class antibacterial and beta-lactamase inhibitor indicated for the treatment of patients with moderate to severe infections caused by susceptible isolates of certain bacteria. Piperacillin and Tazobactam for Injection USP, 3.375g Single-dose Vials had U.S. sales of approximately $72.1M for the 12 months ending June 30, 2015, according to IMS Health. Mylan's launch of this product adds to the company's growing portfolio of more than 145 injectable products available to patients in the U.S. across a broad array of therapeutic categories including oncology, anti-infectives, anesthesia/pain management and cardiovascular.
13:22 EDTMYLMylan comments on 'misleading' Perrigo statements
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11:27 EDTMYLTeva to refrain from voting at Mylan special meeting
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August 24, 2015
06:22 EDTNVDATSMC pursuing 16nm chip orders, DigiTimes reports
According to market sources, DigiTimes reports that TSMC (TSM) has been "actively" seeking 16nm FinFET chip orders. In addition to securing a portion of Apple's (AAPL) A9 chip orders, TSMC has also received orders from AMD (AMD), Broadcom (BRCM), LG, Nvidia (NVDA) and Avago (AVGO), the sources say, noting that TSMC failed to maintain orders for Qualcomm's (QCOM) flagship mobile chips, as it has placed orders for the Snapdragon 820 series with Samsung (SSNLF). Reference Link
August 23, 2015
15:40 EDTNWSANews Corp. eyeing advertising technology start-up, Telegraph says
Former News International CEO Rebekah Brooks has returned to News Corp. and is working on a deal to acquire a U.K.-based advertising technology start-up, reports the Telegraph, citing finance sources. Reference Link
August 21, 2015
15:22 EDTMYLMylan clarifies certain inaccuracies related to lowered condition to acquire Perrigo
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08:19 EDTMYLMylan to host special shareholder meeting
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06:45 EDTMCDMcDonald's accused of mistreating employees in Brazil, Reuters says
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06:11 EDTMCDMcDonald's signs franchise deal with Russia's GiD, Reuters reports
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August 20, 2015
17:19 EDTRPTPRaptor Pharmaceuticals' expanded label for Procysbi approved by FDA
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