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Stock Market & Financial Investment News

News Breaks
June 19, 2014
11:14 EDTMNSTMonster Beverage rises after firms start shares with buy ratings
Shares of energy drink maker Monster Beverage (MNST) are climbing after two research firms recommended buying the stock in initiation reports earlier today. WHAT'S NEW: Monster could benefit from several factors, including accelerating energy beverage trends and strong overseas sales opportunities that are being undervalued by the market, according to Wells Fargo, which initiated coverage of the stock with an Outperform rating. Additionally, the beverage maker has multiple upcoming new products that should boost its revenue and an attractive valuation, Wells believes. The firm set a $79-$81 price target range on the stock. Similarly, research firm BTIG initiated coverage of Monster with a Buy rating, saying the market is overly pessimistic about the outlook of the energy drink sector as well as the company’s overseas sales. Additionally, the firm believes that the stock is reflecting too much concern about increased regulation of energy drinks. BTIG sees very little chance that regulators will take any action beyond placing warning labels on energy drinks. It set a $90 price target on the shares. WHAT'S NOTABLE: On June 3, BMO Capital wrote that it had more confidence in Monster's ability to maintain its growth momentum in the U.S. and strengthen its international financial results. The firm reiterated a $77 price target and Outperform rating on the stock at that time. PRICE ACTION: In mid-morning trading, Monster climbed $1.20, or 2%, to $72.60.
News For MNST From The Last 14 Days
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July 21, 2014
16:22 EDTMNSTOn The Fly: Closing Wrap
Stocks on Wall Street began the trading day in negative territory and remained there through nearly the whole session. The market action was influenced more by the geopolitical events in Russia and Israel than by the upcoming avalanche of earnings scheduled for release throughout the week. Despite the weak open and subsequent drop during the first hour of trading, the market drifted off its lows and managed to pare its losses, even turning mixed for a short time. The averages dipped again heading into the bell, though they closed well of their worst levels. ECONOMIC EVENTS: In the U.S., the Chicago Fed's National Activity Index dipped to 0.12 in June from a reading of 0.16 in May. COMPANY NEWS: Allergan (AGN) rose $3.74, or 2.23%, to $171.14 after the company's Q2 results and its FY14 outlook beat expectations. The company, which is working to fend off a proposed acquisition by Valeant Pharmaceuticals (VRX), also announced plans to cut its workforce by 13%, or about 1,500 employees, as part of a broader restructuring effort. In related news, Valeant announced it has contacted both the SEC and Canadian financial authorities regarding Allergan's "apparent attempt to mislead investors and manipulate the market for Valeant common shares by continuing to make false and misleading statements regarding Valeant's business." Later in the day, Bill Ackman of Pershing Square, who is partnering with Valeant in its attempt to buy Allergan, called the restructuring a "Valeant light" effort and said Valeant does not need to raise its bid for Allergan. Ackman explained that he believes that shares of Valeant will rise around $10 should the Allergan board engage in takeover talks with the company and that a $10 share rise would boost Valeant's bid for Allergan by $8 per share. MAJOR MOVERS: Among the notable gainers was Extreme Networks (EXTR), which rose 69c, or 15.79%, to $5.06 after the company raised its Q4 earnings per share outlook and narrowed its Q4 revenue view. Also higher were shares of EMC (EMC), which advanced $1.35, or 5.0%, to $28.33 after the Wall Street Journal reported, citing sources, that activist investor Elliott Management has taken a stake of over $1B in the data-storage company and plans to push it to break itself up and spin off VMware (VMW), which is 80% owned by EMC. Shares of VMware fell $2.36, or 2.48%, to $92.95 following the Journal's report. Among the other noteworthy losers was Monster Beverage (MNST), which fell $3.07, or 4.53%, to $64.74 after Morgan Stanley downgraded the stock, citing slowing U.S. trends and balanced valuation. Also lower were shares of Yum! Brands (YUM), which fell $3.29, or 4.25%, to $74.13 after Associated Press reported that the company's KFC brand and McDonald's (MCD) were sold expired beef and chicken in China from food supplier Husi Food. Shares of McDonald's, which is scheduled to report on its quarter before tomorrow's market open, slid $1.44, or 1.45%, to $97.55. INDEXES: The Dow fell 48.45, or 0.28%, to 17,051.73, the Nasdaq dropped 7.44, or 0.17%, to 4,424.70, and the S&P 500 declined 4.59, or 0.23%, to 1,973.63.
12:36 EDTMNSTMonster says 'no credible evidence' that Hamric consumed beverage
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10:02 EDTMNSTOn The Fly: Analyst Downgrade Summary
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07:58 EDTMNSTMonster Beverage downgraded at Morgan Stanley
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07:18 EDTMNSTMonster Beverage downgraded to Equal Weight from Overweight at Morgan Stanley
July 11, 2014
13:59 EDTMNSTMonster Beverage volatility at low end of historic range
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