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Stock Market & Financial Investment News

News Breaks
August 15, 2014
16:38 EDTACHN, KO, DDS, MNST, PCTY, JCPOn The Fly: Closing Wrap
Stocks on Wall Street began the session in positive territory despite some soft economic data points, including a weaker than expected report on manufacturing in the New York area and a lower than expected consumer confidence reading. The market short circuited following reports of a skirmish in the Ukraine where a Russian convoy was supposedly fired upon when it crossed the border. The averages quickly dropped and were only able to partially recover, as investors moved to the sidelines to avoid additional geopolitical risk over the weekend. ECONOMIC EVENTS: The NY Fed's Empire manufacturing survey had a reading of 14.69, versus expectations for a 20.0 reading. The Producer Price Index increased 0.1% overall, matching expectations. The core reading was up 0.2%, which was also in-line with the consensus forecast. Industrial production increased 0.4% in July, beating the consensus 0.2% growth forecast. That nudged up capacity utilization to 79.2%, versus 79.1% previously. The first University of Michigan consumer confidence reading for August fell 2.6 points to 79.2, versus expectations for it to have edged up to 82.0. Treasury international capital data showed foreigners dumped $153.5B in total U.S. assets in July after buying a revised $33.1B in June. COMPANY NEWS: Shares of Monster Beverage (MNST) surged $21.84, or 30.48%, to $93.49 after Coca-Cola (KO) bought a stake in the energy drink maker and the companies announced a long-term strategic partnership and asset swap. Coca-Cola will pay $2.15B for a 16.7% stake in Monster, the companies announced last night. Under the terms of their agreement, Coca-Cola will add two directors to Monster's board. Coke will transfer ownership of its worldwide energy business including brands like NOS, Full Throttle, Burn, Mother, Play and Power Play, and Relentless to Monster, in trade for which Monster will transfer its non-energy business to Coke. MAJOR MOVERS: Among the notable gainers was Achillion Pharmaceuticals (ACHN), which rose 81c, or 9.6%, to $9.25 after the company announced interim results from an ongoing Phase 2 proxy study of a potential chronic hepatitis C virus regimen that analysts at Piper Jaffray called "impressive." Also higher was Paylocity (PCTY), which advanced $2.17, or 9.79%, to $24.34 after reporting better than expected fourth quarter revenue and guiding to higher than expected sales in its first quarter. Among the noteworthy losers was retailer J.C. Penney (JCP), which fell 24c, or 2.46%, to $9.50 despite posting a narrower than expected loss for the second quarter. Also lower were shares of another department store owner, Dillard's (DDS), which dropped $9.49, or 8.21%, to $106.11 after reporting quarterly results that missed expectations. INDEXES: The Dow dropped 50.67, or 0.3%, to 16,662.91, the Nasdaq gained 11.92, or 0.27%, to 4,464.93, and the S&P 500 slipped 0.12, or 0.01%, to 1,955.06.
News For MNST;KO;JCP;DDS;ACHN;PCTY From The Last 14 Days
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March 26, 2015
14:08 EDTKOPepsi regains number two spot from Diet Coke in cola wars, AP says
Pepsi (PEP) regained the number two spot from Diet Coke (KO) in the cola wars. Diet Coke had knocked Pepsi off the number two spot back in 2010, AP reports. Reference Link
March 24, 2015
19:40 EDTACHNOn The Fly: After Hours Movers
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17:00 EDTACHNAchillion Chief Regulatory Officer Dr. Gautam Shah departing company
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March 20, 2015
09:01 EDTJCPJ.C. Penney says general counsel Janet Dhillon to leave company
J.C. Penney said in a filing that effective March 20, Janet Dhillon, Executive Vice President, General Counsel and Secretary, is leaving J. C. Penney Company.
March 19, 2015
06:53 EDTKOCoca-Cola CEO to raise marketing budget, revamp distribution network, WSJ says
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March 18, 2015
16:49 EDTMNSTMonster Beverage names Mark Hall as Chief Marketing Officer
On March 12, Monster Energy entered into a letter agreement with Mark Hall. The Hall Agreement confirmed Hallís position change from Chief Brand Officer to Chief Marketing Officer of Monster Energy on a full-time basis, effective as of January 1, 2015.
13:30 EDTJCPJ.C. Penney trades lower after news of executive departures
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10:31 EDTKOPepsiCo's valuation low vs. peers, says Credit Suisse
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09:36 EDTKOActive equity options trading on open
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March 17, 2015
16:00 EDTKOOptions Update; March 17, 2015
iPath S&P 500 VIX Short-Term Futures down 11c to 27.30. Option volume leaders: AAPL RIG MGM HTZ TWTR TSLA CY KO NFLX C according to Track Data.
15:41 EDTJCPJ.C. Penney General Counsel Janet Dhillon leaving, Bloomberg says
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06:57 EDTJCPJ.C. Penney CMO leaves company, effective immediately, AdAge reports
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March 15, 2015
18:04 EDTKODavid Winters says Coca-Cola CEO declined bonus not enough, Reuters says
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