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Stock Market & Financial Investment News

News Breaks
March 17, 2014
12:41 EDTMO, SWY, RAD, WAG, WMT, CVS, RAI, LO, VGR, PM, KRTobacco stocks relatively weak after AGs write retailers
Tobacco stocks are trading relatively weaker today after Attorneys General in numerous states encouraged U.S. retailers to follow the example of CVS Caremark (CVS) and stop selling tobacco products in stores that also have pharmacies. WHAT'S NEW: Led by Attorney General Schneiderman and Attorney General DeWine, the Attorneys General of 28 states and territories have written to the CEOs of Wal-Mart (WMT), Walgreen (WAG), Rite-Aid (RAD), Safeway (SWY) and Kroger (KR), asking them to remove any and all tobacco products from their shelves. In addition, 32 Attorneys General have commended CVS Caremark for its recent decision to stop selling tobacco in its stores. PRICE ACTION: At midday, the U.S. equity markets are all up over a percentage point, but shares of Altria Group (MO) and Vector Group (VGR) are trading near the flat-line, Reynolds American (RAI) is down almost 1% , while Lorillard (LO), which was also upgraded by Goldman today, is up 0.6%.
News For MO;PM;VGR;LO;RAI;CVS;WMT;WAG;RAD;SWY;KR From The Last 14 Days
Check below for free stories on MO;PM;VGR;LO;RAI;CVS;WMT;WAG;RAD;SWY;KR the last two weeks.
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July 14, 2014
07:09 EDTRAI, LODecrease in lawsuits could help Reynolds, Lorillard merger, Reuters says
Analysts who follow the smoking industry are saying that the leveling-off of smoking-related lawsuits against U.S. tobacco companies could making it more likely that a merger between Reynolds American (RAI) and Lorillard (LO) will transpire, reported Reuters. Reference Link
06:16 EDTRAIReynolds American upgraded to Outperform from Sector Perform at RBC Capital
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06:06 EDTWAGWalgreen implied volatility of 35 at upper end of index mean range
July 12, 2014
12:50 EDTWMTWal-Mart sued by comedian Tracy Morgan over June crash, Reuters says
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July 11, 2014
18:32 EDTRAI, LOReynolds American, Lorillard merger makes sense, Barron's reports
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16:46 EDTRAI, LOStocks end week lower on European, Fed concerns
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16:22 EDTRAI, LOOn The Fly: Closing Wrap
Stocks on Wall Street were higher today, but were still lower for the week, as concerns in Europe have come back to the forefront of investors' minds. Today's modest bounce was not enough to make up for the declines seen in three of the other four sessions earlier in the week. ECONOMIC EVENTS: In the U.S., the June federal budget statement showed a surplus of $70.5B for the month, compared to analysts' forecast for a $79B surplus. COMPANY NEWS: Shares of Wells Fargo (WFC) slipped 32c, or 0.62%, to $51.49 after the largest mortgage lender in the U.S. posted earnings of $1.01 a share that matched analysts' consensus forecast. Wells did note that its credit performance continued to improve in Q2 and CEO John Stumpf said he is "optimistic about the future" for the bank... Lorillard (LO) advanced $2.92, or 4.63%, to $66.01, while Reynolds American fell 51c, or 0.82%, to $61.75, after the two cigarette makers confirmed that they are holding talks about a possible merger, as has been speculated by various media reports in recent weeks... In another update to an ongoing M&A story, Japan's Nikkei reported that Sprint's (S) corporate parent, Softbank (SFTBF), has reached an agreement to acquire T-Mobile (TMUS) from Deutsche Telecom (DTEGY), clearing the way for the long-speculated merger between the third and fourth largest wireless carriers in the U.S. Following the new story, Sprint shares finished the day up 30c, or 3.64%, to $8.55, while T-Mobile rose 62c, or 1.89%, to $33.50. MAJOR MOVERS: Among the notable gainers was Ruckus Wireless (RKUS), which advanced 87c, or 7.9%, to $11.88 after the FCC announced that it would allocate new funds to subsidize the launch of WiFi networks in schools and libraries. Also higher was Amazon.com (AMZN), which climbed $18.28, or 5.57%, to $346.20 after consulting firm ChannelAdvisor (ECOM) reported that the company's same-store sales growth had accelerated significantly in June compared with May. Among the noteworthy losers was Rent-A-Center (RCII), which dropped $3.18, or 10.94%, to $25.88 after the company warned that its revenue and earnings for Q2 will not meet expectations. Also lower were shares of industrial and construction supply retailer Fastenal (FAST), which fell $2.00, or 4.16%, to $46.15 after its Q2 revenue missed analysts' consensus view and the company reported plans to close 45 stores. INDEXES: The Dow was up 28.74, or 0.17%, to 16,943.81, the Nasdaq was up 19.29, or 0.44%, to 4,415.49, and the S&P 500 was up 2.83, or 0.14%, to 1,967.51.
12:36 EDTRAI, LOOn The Fly: Midday Wrap
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12:08 EDTLO, RAILorillard jumps after confirming buyout talks with Reynolds
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11:17 EDTLOHigh option volume stocks
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10:00 EDTLO, RAI, MO, PMOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Altria Group (MO) initiated with an Outperform at Cowen... Berkshire Hills Bancorp (BHLB) initiated with a Hold at Jefferies... CGI Group (GIB) initiated with an Outperform at Credit Suisse... Halozyme (HALO) initiated with an Overweight at JPMorgan... Lorillard (LO) initiated with an Underperform at Cowen... MacroGenics (MGNX) initiated with an Outperform at Oppenheimer... Philip Morris (PM) initiated with a Market Perform at Cowen... Prothena (PRTA) initiated with an Outperform at Oppenheimer... Reynolds American (RAI) initiated with a Market Perform at Cowen... Seventy Seven Energy (SSE) initiated with a Buy at Wunderlich... SouFun (SFUN) initiated with a Neutral at Macquarie... Sprouts Farmers Markets (SFM) initiated with a Neutral at Longbow... Sterling Bancorp (STL) initiated with a Buy at Jefferies... Xencor (XNCR) initiated with an Outperform at Oppenheimer... YPF (YPF) initiated with a Neutral at JPMorgan... iGATE (IGTE) initiated with an Outperform at William Blair.
09:09 EDTRAI, LOOn The Fly: Pre-market Movers
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08:02 EDTRAI, LOLorillard acquisition by Reynolds may be announced soon, says Wells Fargo
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08:01 EDTRAI, LOLorillard volatility expected to move on Reynolds American confirms discussions
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07:02 EDTLO, RAIReynolds American confirms discussions about business combination
Reynolds American (RAI) confirms that it is in discussions with Lorillard (LO) regarding a possible acquisition of Lorillard. The discussions are consistent with RAI's strategy of considering a variety of options to enhance shareholder value. British American Tobacco, RAI's largest shareholder, is participating in these discussions. If the transaction proceeds, BAT expects to support the transaction by subscribing for additional shares in RAI and would maintain its existing 42% equity position in RAI. Imperial is also involved in these negotiations as a possible purchaser of brands and other assets from Lorillard and RAI. There is no assurance that any agreement will be reached by any of the parties. Unless circumstances dictate otherwise, RAI does not intend to comment further on these matters.
07:01 EDTRAI, LOLorillard confirms talks regarding potential acquisition by Reynolds American
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06:04 EDTLO, RAIImperial confirms talks with Reynolds, Lorillard over asset acquisition
Imperial Tobacco (ITYBY) notes the recent speculation relating to a potential transaction involving Reynolds American (RAI) and Lorillard (LO). Imperial confirmed it is in discussions with Reynolds and Lorillard to evaluate a possible acquisition of certain assets and brands owned by Reynolds and Lorillard. Earlier today, Financial Times reported that Reynolds and Lorillard are close to a merger agreement.
06:03 EDTWAGWalgreen implied volatility of 34 at upper end of index mean range
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06:00 EDTRADStocks with implied volatility below IV index mean; RAD BBBY
Stocks with implied volatility below IV index mean; Rite Aid (RAD) 36, Bed Bath & Beyond (BBBY) 18 according to iVolatility.
05:54 EDTLO, RAIReynolds American, Lorillard close to merger agreement, FT reports
According to the Financial Times, Reynolds American (RAI) and Lorillard (LO) are close to agreeing on a merger. The companies, which would have a combined market capitalization of $56B, have agreed with British American Tobacco (BTI), which holds a 42% stake in Reynolds, on key elements of the deal, including price. The companies are currently finalizing details on which production facilities and cigarette brands would be disposed of to ease antitrust concerns. Reference Link
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