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Stock Market & Financial Investment News

News Breaks
August 15, 2014
12:39 EDTJWN, GOOG, VRNG, JCP, TASR, KO, AOL, ACHN, MNSTOn The Fly: Midday 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 drifted higher after the bell, but lost all momentum when reports surfaced that the Ukraine army fired on a Russian convoy that crossed the border. The equity averages quickly fell, while oil prices rose and gold recouped some of its early losses. 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 beverage company Monster Beverage (MNST) surged 27% higher after Coca-Cola (KO) took a 16.7% 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 Beverage, 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. Monster will transfer its non-energy business. MAJOR MOVERS: Among the notable gainers was Achillion Pharmaceuticals (ACHN), which rose 11% 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 Taser (TASR), which gained 8% after Craig-Hallum said in a note to investors that its checks indicate Taser's AXON on-officer body cam will be rolled out to 16K London Met police officers over the next two years. Among the noteworthy losers was Vringo (VRNG), which plunged 75% after confirming that an appeals court reversed a jury's verdict and held that the asserted claims of the patents-in-suit in the company's wholly-owned subsidiary I/P Engine's litigation against Google (GOOG), AOL (AOL) and others are invalid. Also lower following their earnings reports were two department store operators: J.C. Penney (JCP), which fell nearly 4%, and Nordstrom (JWN), which dropped more than 4%. INDEXES: Near midday, the Dow was down 86.25, or 0.52%, to 16,627.33, the Nasdaq was down 11.44, or 0.26%, to 4,441.56, and the S&P 500 was down 6.54, or 0.33%, to 1,948.64.
News For MNST;KO;VRNG;ACHN;TASR;GOOG;AOL;JCP;JWN From The Last 14 Days
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February 17, 2015
04:58 EDTJWNNordstrom downgraded to Underweight from Equal Weight at Barclays
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February 15, 2015
13:19 EDTAOLAOL announces strategic partnership with The Players’ Tribune
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February 13, 2015
17:05 EDTGOOGAppaloosa gives quarterly update on stakes
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16:43 EDTGOOGGoogle founders Larry Page, Sergey Brin each plan to sell 2M shares of stock
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16:35 EDTAOL, KOS&P closes at all-time high as stocks run winning streak to second week
The major stock averages gained for the second week in a row, sending the S&P 500 to a new all-time high in the process. With the weekly advance, the major averages wiped out all their losses since the beginning of the year and moved into the green for 2015. MACRO NEWS: The U.S. economic calendar was relatively quiet during this week. Retail sales decreased 0.8% in January, versus expectations for a 0.4% decline. Initial jobless claims rose 25K to 304K in the week ended January 7. Consumer sentiment fell to 93.6 in the preliminary February release from the University of Michigan survey, versus expectations for the reading to hold at the 98.1 it achieved in January... In Europe, Russian, Ukrainian, German and French leaders came to terms on a cease-fire to begin Sunday. Eurozone GDP grew by 0.3% in the last three months of 2014, which was a bit faster than expected, largely due to strong upside in Germany. A Eurogroup meeting failed to reach a final bailout deal for Greece, but reports afterward seemed to have an optimistic tone about the continuation of talks. Sweden’s Riksbank became the latest central bank to cut interest rates and said it would undertake a program of sovereign bond buying... In China, foreign trade volume declined 10.8% year-on-year in January, with exports dropping 3.2% and imports slumping 19.7%. COMPANY NEWS: Coca-Cola (KO), PepsiCo (PEP), Zoetis (ZTS), Mondelez (MDLZ), and Groupon (GRPN) were among the companies whose stocks reacted positively to their quarterly earning reports. Conversely, the shares of Pier 1 Imports (PIR), AOL (AOL) and Zynga (ZNGA) fell after they reported their results... Dow member American Express (AXP) fell sharply after the company announced that its U.S. co-brand and merchant acceptance agreements with Costco (COST) are set to end in March of next year. Costco has been one of the few big U.S. merchants that to-date had accepted AmEx cards exclusively. Afterward, American Express said that the company now expects that overall earnings growth in 2015 will likely be "flat to down modestly" year-over-year... Another member of the blue chip index, McDonald's (MCD), dropped after reporting that its comparable sales declined 1.8% in January. As part of the overall results, U.S. same-store sales grew 0.4%, but Asia/Pacific, Middle East and Africa comparable sales dropped 12.6%... General Motors (GM) shares rose after the company confirmed that Harry Wilson intends to nominate himself as candidate for the GM board and bring before the annual meeting a proposal that the company commit to completing $8B of share repurchases... On the M&A front, Interxion (INXN) advanced after the company agreed to an all-share merger with U.K. peer TelecityGroup, after which Interxion shareholders will owning approximately 45% of the combined group. Rite Aid (RAD) rose after the pharmacy retail chain agreed to buy EnvisionRx from TPG for $2B and re-enter the pharmacy benefit management space it had previously exited. INDEXES: For the week, the Dow rose 1.09% to 18,019.35, the Nasdaq gained 3.14% to 4,893.84, and the S&P rose 2% to 2,096.99.
16:15 EDTJWNNordstrom raises quarterly dividend 12% to 37c per share
The dividend is payable on March 13 to shareholders of record at the close of business on February 27.
13:50 EDTKOKeurig Green Mountain moves higher after Coke raises stake
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13:42 EDTKOCoca-Cola raises stake in Keurig Green Mountain to 16%
On February 11, Credit Suisse delivered to the Coca-Cola's (KO) Atlantic Industries about 6.38M shares of Keurig Green Mountain (GMCR) common stock pursuant to a previously disclosed letter agreement, dated as of May 12, 2014, between Atlantic and CS for a total acquisition cost of about $830.37M. All such purchases were made using Atlantic's cash on hand, a regulatory filing showed.
12:40 EDTGOOGGoogle says to shut down Google Helpouts on April 20
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09:33 EDTGOOGMattel, Google confirm View-Master toy collaboration
Mattel (MAT), at the Toy Industry Association’s Toy Fair in New York, unveiled a collaboration with Google (GOOG, GOOGL) via which the two will launch a new "virtual reality" View-Master toy. Available fall 2015, consumers can purchase the View-Master viewer and a sample experience reel for SRP $29.99. Additional experience reel packs will be sold separately at retail for SRP $14.99.
06:27 EDTGOOGGoogle volatility at low end of historic range
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06:14 EDTGOOGSamsung, HTC, others to launch non-Android Wear smart devices, DigiTimes says
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06:14 EDTGOOGGoogle to push 2-in-1 Chromebook development in 2015, DigiTimes Research reports
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February 12, 2015
09:22 EDTACHNOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Tripadvisor (TRIP), up 13.5%... Cisco Systems (CSCO), up 7.2%... FireEye (FEYE), up 7.7%... GNC (GNC), up 4.8%... NVIDIA (NVDA), up 5.5%... Whole Foods (WFM), up 2.5%. ALSO HIGHER: Orbitz Worldwide (OWW), up 21.6% after agreeing to be acquired by Expedia (EXPE). Expedia is up 11%... Ballard Power (BLDP), up 8.1% after being upgraded to Buy from Hold at Lake Street... Verastem (VSTM), up 4.7% after receiving orphan drug designation from FDA VS-5584 in mesothelioma. DOWN AFTER EARNINGS: Zulily (ZU), down 25.4%... Cabelas (CAB), down 9%... Cheesecake Factory (CAKE), down 5.9%.... Baidu (BIDU), down 4.8%... NetApp (NTAP), down 6.5%... Avon Products (AVP), down 3.6%... Tesla (TSLA), down 8.9%... Kellogg (K), down 5.1%... Amber Road (AMBR), down 16%. ALSO LOWER: Achillion Pharmaceuticals (ACHN), down 4.5% after 12M share Secondary priced at $10.25.
09:04 EDTVRNGVringo pays bond to continue enforcement of injunction against ZTE in Romania
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08:42 EDTTASRTASER expected to report strong Q4 results at Oppenheimer
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07:23 EDTACHNLeerink to hold a conference
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06:38 EDTGOOGGoogle gives Apple, Microsoft 90 days to fix security flaws, Bloomberg says
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06:06 EDTGOOGAndroid smartwatches underperform, Re/code says
Research firm Canalys reports that only 720,000 Google Android-powered smartwatches shipped last year, reports Re/code. Analyst Chris Jones faulted poor battery life and uncompelling software functionality. Reference Link
05:57 EDTACHNAchillion 12M share Secondary priced at $10.25
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