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Stock Market & Financial Investment News

News Breaks
August 8, 2014
12:34 EDTRPTP, MYL, MCD, MELI, NWSA, IRG, NVDAOn 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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May 19, 2015
08:13 EDTMCDUnion group asks FTC to probe McDonald's, other big franchisers, WSJ reports
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07:43 EDTMELIJPMorgan to hold a conference
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06:08 EDTMYLPerrigo CEO says would talk with Mylan, but at a higher price, Globes reports
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May 18, 2015
12:07 EDTMYLPerrigo: there is price point where would engage with Mylan, Bloomberg reports
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07:22 EDTMYLUBS to hold a conference
Global Healthcare Conference is being held in New York on May 18-20 with webcasted company presentations to begin on May 18 at 8 am; not all company presentations may be webcasted. Webcast Link
May 15, 2015
16:01 EDTMCDOptions Update; May 15, 2015
iPath S&P 500 VIX Short-Term Futures down 20c to 20.06 Option volume leaders: AAPL BAC FB NFLX TWTR BABA CSCO TSLA MU GILD T MSFT AMZN MCD
14:51 EDTMYLMylan ANDA for generic version of Lexapro approved by FDA
The ANDA from Mylan (MYL) for a generic version of Escitalopram Oxalate, which is sold under the trade name Lexapro by Actavis' (ACT) Forest Labs, was approved by the FDA on May 14, according to a post to the regulator's site. Reference Link
12:15 EDTMCDMcDonald's call activity attributed to activist speculation
McDonald's May 97.5 and 98 calls are active eon total call volume of 56K (4K puts) on activist speculation. May call option implied volatility is at 18, May weekly is at 17, June is at 18, September is at 19; compared to 90-day average of 19 according to Track Data, suggesting large near term price movement.
11:09 EDTMCDRumor: McDonald's move higher attributed to activist speculation
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09:31 EDTMYLAmerican Thoracic Society to hold a conference
ATS 2015 Conference is being held in Denver on May 15-20.
May 12, 2015
10:01 EDTMELIOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AG Mortgage (MITT) downgraded to Market Perform from Outperform at Keefe Bruyette... Brookfield Renewable (BEP) downgraded to Underperform from Neutral at Credit Suisse... Emera (EMRAF) downgraded to Equal Weight from Overweight at Barclays... Fibria Celulose (FBR) downgraded to Neutral from Buy at Citigroup... First Marblehead (FMD) downgraded to Neutral from Buy at Compass Point... First Security (FSGI) downgraded to Market Perform from Outperform at Raymond James... Gap (GPS) downgraded to Market Perform from Outperform at FBR Capital... Intelsat (I) downgraded to Underweight from Equal Weight at Morgan Stanley... LivePerson (LPSN) downgraded to Neutral from Outperform at Credit Suisse... MercadoLibre (MELI) downgraded on valuation, difficult comps at Stifel... Midway Gold (MDW) downgraded to Underperform from Outperform at RBC Capital... Numerex (NMRX) downgraded to Market Perform from Outperform at Northland... Portland General Electric (POR) downgraded to Neutral from Overweight at JPMorgan... Rackspace (RAX) downgraded to Outperform from Buy at CLSA... Rosetta Resources (ROSE) downgraded to Sector Weight from Overweight at KeyBanc... SouFun (SFUN) downgraded to Hold from Buy at Deutsche Bank... Verizon (VZ) downgraded to Underperform from Neutral at Macquarie.
07:08 EDTMELIMercadoLibre downgraded on valuation, difficult comps at Stifel
As noted earlier, Stifel downgraded MercadoLibre to Hold from Buy. As reasons for the downgrade, the firm cited valuation and more difficult comps for initiatives recently launched by the company.
06:07 EDTMELIMercadoLibre downgraded to Hold from Buy at Stifel
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May 11, 2015
19:45 EDTMCDMcDonald's to simplify drive-thru, add mid-priced items, WSJ says
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14:27 EDTMYLCowen recommends adding to both Teva and Mylan at current levels
Cowen recommends adding to both Teva (TEVA) and Mylan (MYL) at current levels. The firm continues to believe that a Mylan transaction will proceed despite some early contentious language, and all of Mylan's concerns will be resolved.
11:53 EDTMYLTeva rejected chance to acquire Perrigo a few months ago, Globes reports
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08:48 EDTMCDPanera Bread appoints Drew Madsen President effective May 11
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07:26 EDTNVDAQualcomm rivals questioned by EU antitrust regulators, Reuters reports
Antitrust regulators in the EU are asking Qualcomm's (QCOM) rivals about the company's business practices, Reuters reports, citing a document. Europe has been investigating Qualcomm for the last seven months over the way it licenses its products and its power over patents. Another EU inquiry, which began in 2010, was triggered by a complained from Nvidia's (NVDA) Icera unit over rebates and incentives. Reference Link
06:01 EDTMYLStocks with implied volatility movement; MYL NOK
Stocks with implied volatility movement; Mylan (MYL) 43, Nokia (NOK) 34 according to iVolatility.
May 10, 2015
13:29 EDTMCDMcDonald's shares could stall near $97, Barron's says
Despite the company's recent turnaround plan, shares of McDonald's look "ambitiously" priced, Barron's contends in a feature article. Barron's argues that the turnaround plan focuses on bookkeeping details rather than improving the fundamentals of its food business. Reference Link
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