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Stock Market & Financial Investment News

News Breaks
June 17, 2014
12:23 EDTSCTY, ORCL, MDT, NFLX, MCRS, ACOR, TSLA, EW, COVOn 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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February 23, 2015
15:02 EDTTSLATesla Motors February weekly volatility flat on wide intra-day movement
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10:55 EDTTSLAStocks with call strike movement; TSLA DAL
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09:39 EDTTSLAActive equity options trading on open
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08:56 EDTTSLATesla long-term focus likely to 'lose luster' with investors, says BofA/Merrill
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08:40 EDTMDTMedtronic acquires Advanced Uro-Solutions, terms not disclosed
Medtronic announced that it has acquired Advanced Uro-Solutions, a privately-held developer of neurostimulation products for the treatment of bladder control issues based in Elizabethton, Tennessee. Terms of the acquisition agreement, which closed in December 2014, were not disclosed.
February 20, 2015
16:03 EDTTSLAOptions Update; February 20, 2015
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13:38 EDTACORLeerink specialty pharma analyst holds analyst/industry conference call
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12:19 EDTMDTFDA approves closure system to permanently treat varicose veins
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09:38 EDTTSLAActive equity options trading on open
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06:41 EDTTSLAApple pushing for 2020 production of its electric car, Bloomberg says
Apple (AAPL) is pushing to begin production of its electric vehicle as soon as 2020, reports Bloomberg, citing people with knowledge of the matter. Bloomberg notes that the move could put Apple into direct competition with Tesla (TSLA) and General Motors (GM), both of which are targeting a 2017 release for next-generation electric vehicles. Apple may still cancel the project if it becomes unhappy with progress, the sources said, though its vehicle team is already 200-people strong. Reference Link
February 19, 2015
16:15 EDTMDTMedtronic SANTE trial data show sustained safety, improvements in QOLIE-31
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16:01 EDTNFLXOptions Update; February 19, 2015
iPath S&P 500 VIX Short-Term Futures down 70c to 30.11. Option volume leaders: AAPL TSLA TWTR AMAT PBR KO FB AXP NFLX according to Track Data.
13:04 EDTSCTYDeutsche, Canaccord still upbeat on SolarCity despite Q1 guidance miss
The shares of SolarCity (SCTY) are falling after the company reported a higher than expected fourth quarter loss. However, Deutsche Bank and research firm Canaccord remained upbeat on the stock in notes to investors earlier today. Solarcity installs solar energy systems at residences and businesses. BACKGROUND: SolarCity reported a Q4 loss of ($1.33) per share, versus the consensus outlook for a ($1.27) per share loss. SolarCity's Q4 revenue, however, was roughly in-line with expectations and the company said that its backlog as of the beginning of 2015 was large enough to cover much of its expected installations for the first half of the year. Additionally, SolarCity reiterated its guidance for 920-1000MW of solar installations for 2015. SolarCity estimated, however, that its Q1 per share loss would come in at ($1.65)-($1.75), versus the consensus outlook for a ($1.25) per share loss. ANALYST REACTION: Deutsche Bank analyst Vishal Shah wrote that SolarCity had executed well, while demand for its installations is strong. Moreover, the company's cost reduction plan looks to be running ahead of schedule, and its 2015 shipments look poised to come in ahead of its guidance, Shah believes. The analyst did, however, write that SolarCity's Q4 bookings were "somewhat" below his expectations and declined versus Q3. Nonetheless, the analyst continued to identify the stock as one of his top picks in the solar sector and kept a $90 price target and Buy rating on the name. Also upbeat on SolarCity was Canaccord analyst Jed Dorsheimer. He raised his price target on the shares to $67 from $64 following its results. SolarCity has had record bookings over the last 30 days and the company should come close to setting a bookings record in Q1, the analyst wrote, adding that its deployments should ramp in Q2 and Q3 as seasonal factors subside. Dorsheimer kept a Buy rating on the stock. PRICE ACTION: In early afternoon trading, SolarCity fell 6.3% to $53.48. Other names in the solar sector also declined, with SunPower (SPWR) falling 1.8%, JinkoSolar (JKS) dropping 1.5%, and Vivint Solar (VSLR) losing 2.3%.
11:04 EDTORCLOracle unveils new big data solutions
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09:44 EDTTSLATesla shares can hit new highs by year end, says Morgan Stanley
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09:35 EDTTSLA, SCTYOption volume leaders
Option volume leaders: AAPL TSLA TWTR MCD WMT PBR SPWR WFM GILD FB SCTY according to Track Data.
09:32 EDTSCTYSolarCity shares may be range-bound after Q4 miss, says Roth Capital
Roth Capital believes SolarCity shares may be range-bound following the company's "modest" miss in Q4. Roth continues to view SolarCity as the best-in-class player and recommends accumulating the stock opportunistically. It reiterates a Buy rating on the name with a $98 price target.
09:12 EDTSCTYOn The Fly: Pre-market Movers
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07:39 EDTSCTYSolarCity price target raised to $67 from $64 at Canaccord
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06:37 EDTSCTYSolarCity Q4 results show 'robust' demand environment, says Deutsche Bank
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