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Stock Market & Financial Investment News

News Breaks
June 17, 2014
12:23 EDTMCRS, ORCL, EW, NFLX, SCTY, TSLA, MDT, COV, ACOROn The Fly: Midday Wrap
Stocks on Wall Street were slightly higher at midday after spending the morning fluctuating between narrow losses and marginal gains. The averages are drifting back and forth across the flat line as investors await the conclusion of the Fed's latest rate setting meeting, which kicked off today. ECONOMIC EVENTS: In the U.S., the consumer price index rose 0.4% in May, which was above the consensus forecast for an increase of 0.2%. Housing starts in the month declined 6.5% to a rate of about 1M and building permits slid 6.4% to a rate of 991K, which were both lower than expected. The Federal Reserve began its FOMC meeting, which will conclude tomorrow. COMPANY NEWS: Shares of register system and hospitality software maker Micros Systems (MCRS) surged 18% higher following a report from Bloomberg that the company is in talks to be acquired by tech giant Oracle (ORCL) for "more than" $5B... Shares of Edwards Lifesciences (EW) advanced nearly 5% after the company announced last night that it has received FDA approval for its SAPIEN XT transcatheter aortic heart valve for the treatment of certain high-risk and inoperable cardiovascular patients. Wells Fargo thinks the broad label and range of sizes approved by the FDA are a positive development for the company, while analysts at Canaccord noted that they view Edwards as an attractive acquisition candidate. Yesterday, CRT Capital said that it believes Medtronic's (MDT) acquisition of Covidien (COV) may signal an increase in sector M&A. MAJOR MOVERS: Among the notable gainers was SolarCity (SCTY), which jumped more than 15% after the solar energy system installer agreed to acquire solar panel technology and manufacturing company Silevo for up to $350M dollars. Also rising were shares of another company where Elon Musk is Chairman of the Board, Tesla Motors (TSLA), which rose over 3.5% after New Jersey's assembly approved a bill allowing the company to sell its cars directly in the state and New York Governor Andrew Cuomo signed a direct sales law in the neighboring state. Also higher was Netflix (NFLX), which rose 3% after Morgan Stanley upgraded the stock and research firm Pacific Crest issued a positive take on the shares in separate notes to investors earlier today. Among the noteworthy losers was executive recruiter Korn/Ferry (KFY), which dropped 3.5% after reporting on results during its just completed quarter and giving guidance for its current quarter. Also lower was Acorda Therapeutics (ACOR), which fell 5.5% after announcing an offering of $300M of convertible senior notes. INDEXES: Near midday, the Dow was up 9.46, or 0.06%, to 16,790.47, the Nasdaq was up 17.36, or 0.4%, to 4,338.46, and the S&P 500 was up 2.28, or 0.12%, to 1,940.06.
News For MCRS;ORCL;EW;NFLX;SCTY;TSLA;MDT;COV;ACOR From The Last 14 Days
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August 8, 2014
09:26 EDTSCTYSolarCity mentioned cautiously by TheStreet's Herb Greenberg
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09:15 EDTSCTYOn The Fly: Pre-market Movers
HIGHER: NVIDIA (NVDA), up 4.2%, upgraded at Needham following its better than expected Q2 results... Arista Networks (ANET), up 8%, upgraded at Citigroup following better than expected Q2 results, announcing an expanded strategic relationship with VMware (VMW)... Tekmira Pharmaceuticals (TKMR), up 17.5% after announcing that the FDA verbally confirmed they have modified the full clinical hold placed on its TKM-Ebola treatment to a partial clinical hold... Gap (GPS), up 4.7% after July same-store sales rose 2%, company issues Q2 EPS outlook above the consensus estimate... lululemon (LULU), up 2.4% after founder agrees to sell half his stake to Advent for $845M. UP AFTER EARNINGS: SolarCity (SCTY), up 1%... Assured Guaranty (AGO), up 9%... MercadoLibre (MELI), up 13.6%. LOWER: Zynga (ZNGA), down 6% after lowering fiscal 2014 guidance... McDonald's (MCD), down 0.4% after Chinese supplier issue contributes to July comparable sales drop of 2.5%.
08:21 EDTSCTYOptions expected to be active
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07:01 EDTMDT, COVHarvard professor says Treasury can reduce inversion incentives, NY Times says
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August 7, 2014
18:41 EDTSCTYOn The Fly: After Hours Movers
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16:32 EDTSCTYSolarCity sees Q3 non-GAAP EPS ($1.10)($1.20), consensus ($1.00)
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16:30 EDTSCTYSolarCity reports Q2 non-GAAP EPS (96c), consensus (99c)
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16:00 EDTTSLAOptions Update; August 7, 2014
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15:33 EDTSCTY Notable companies reporting after market close
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15:31 EDTSCTYNotable companies reporting after market close
Notable companies reporting after the market close, with earnings consensus, include CBS (CBS), consensus 72c; Consolidated Edison (ED), consensus 54c; Monster Beverage (MNST), consensus 75c; News Corporation (NWSA), consensus 3c; NVIDIA (NVDA), consensus 20c; Computer Sciences (CSC), consensus 94c; CareFusion (CFN), consensus 72c;DeVry Education (DV), consensus 67c; Salix Pharmaceuticals (SLXP), consensus $1.72; Federal Realty (FRT), consensus $1.21; SolarCity (SCTY), consensus (99c); Medivation (MDVN), consensus 24c; Sprouts Farmers Market (SFM), consensus 18c; Alnylam Pharmaceuticals (ALNY), consensus (56c); Lions Gate (LGF), consensus 17c; Mercadolibre (MELI), consensus 56c; Post Holdings (POST), consensus 27c; Assured Guaranty (AGO), consensus 35c; Great Plains Energy (GXP), consensus 41c; Air Lease (AL), consensus 52c; Ubiquiti Networks (UBNT), consensus 51c; SemGroup (SEMG), consensus 35c.
15:27 EDTSCTYSolarCity August weekly 75 straddle priced for 8% move into Q2
15:15 EDTSCTYSolarCity technical comments ahead of results
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10:51 EDTCOVOptions with increasing implied volatility
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09:36 EDTTSLA, NFLXActive equity options trading on open
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09:31 EDTMDTMedtronic receives FDA approval for Attain Performa quadripolar lead
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08:58 EDTCOV, MDTMedtronic receives request of additional info from FTC for Covidien acquisition
On August 6, 2014, in connection with the FTC review of the pending acquisition by Medtronic (MDT) of Covidien (COV), which will result in both Medtronic and Covidien becoming wholly owned subsidiaries of Medtronic, Medtronic received a request for additional information and documentary material from the FTC. Issuance of the second request extends the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976 until 30 days after Medtronic and Covidien have substantially complied with the second request, unless the waiting period is extended voluntarily by the parties or terminated earlier by the FTC. Medtronic and Covidien intend to cooperate fully with the FTC and continue to expect the Transaction to be completed in the fourth calendar quarter of 2014 or early 2015.
08:26 EDTMDTMedtronic risk/reward attractive, says Morgan Stanley
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06:42 EDTMDT, COVObama to look to limit inversion deals, Politico says
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06:41 EDTNFLXNetflix CEO says has more subscription revenue than HBO
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06:07 EDTTSLATesla implied volatility of 40 at lower end of index mean range
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