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Stock Market & Financial Investment News

News Breaks
March 10, 2014
09:08 EDTMONT, DDD, CQB, VOD, T, NIHD, RGDO, RVLT, BSPMOn The Fly: Pre-market Movers
HIGHER: Montage Technology (MONT), up 19.5% after receiving$21.50 per share non-binding acquisition proposal from Shanghai Pudong Science and Technology... Chiquita Brands (CQB), up 15% after to combine with Fyffes in stock-for-stock transaction... Regado (RGDO), up 46% after announcing FDA designates REG1 for Fast Track development... Revolution Lighting (RVLT), up 26% after acquiring Value Lighting, affiliates for $35.6M... NII Holdings (NIHD), up 5% after retaining financial visors to explore strategic alternatives. LOWER: 3D Systems (DDD), down 4.7% after cautious mention in this weekend's Barron's magazine... Biostar Pharmaceuticals (BSPM), down 7% after entering into securities purchase agreement... Vodafone (VOD), down 3.4% after FT says AT&T (T) CEO downplays speculation of Vodafone bid.
News For MONT;DDD;CQB;VOD;T;NIHD;RGDO;RVLT;BSPM From The Last 14 Days
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August 11, 2014
17:50 EDTNIHDNII Holdings CEO says needs to make key decisions to address liquidity
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17:49 EDTNIHDNII Holdings reports Q2 EPS ($3.65), may not compare to consensus ($2.30)
Reports Q2 revenue $969M, consensus $948.1M.
16:50 EDTCQBOn The Fly: Closing Wrap
Stocks on Wall Street opened in positive territory but were never able to gain any upside momentum. There was little to account for the initial move other than no change to the status quo for Israel and Russia. The averages moved in a narrow range but managed to stay on the plus side into the close, though in lackluster fashion. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced $3.25, or 9.0%, to $39.37 after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). The total transaction has a value of about $70B and the combined entity will be the largest energy infrastructure company in North America and the third largest energy company overall with an estimated enterprise value of approximately $140B, the company said. Afterward, Kinder Morgan was upgraded to Buy from Neutral at BofA Merrill Lynch, though Wells Fargo viewed the plans as mixed near-term. Wells believes the deal helps address some of the structural issues that have been pressuring Kinderís valuation in recent quarters, but it believes itís unclear how the market will ultimately value the new structure and the firm kept its Market Perform rating on all four stocks involved. MAJOR MOVERS: Among the notable gainers was salad and banana distributor Chiquita Brands (CQB), which jumped $3.04, or 30.22%, to $13.10 to close above the $13 per share takeover offer announced by Cutrale Group and the Safra Group. Note that Chiquita previously agreed to combine with Fyffes plc in a stock-for-stock transaction. Also higher was Mattress Firm (MFRM), which advanced $6.52, or 13.58%, to $54.53 after reporting preliminary second quarter results that beat expectations and raising it fiscal year outlook. Among the noteworthy losers following their earnings reports were Walter Investment (WAC), which fell $3.52, or 12.45%, to $24.75, and Inovio (INO), which dropped 99c, or 9.94%, to $8.97. INDEXES: The Dow edged up 16.05, or 0.1%, to 16,569.98, the Nasdaq gained 30.43, or 0.7%, to 4,401.33, and the S&P 500 rose 5.33, or 0.28%, to 1,936.92.
16:42 EDTRGDORegado Biosciences reports Q2 EPS (63c), consensus (51c)
Cash and cash equivalents at June 30, totaled $72.7M compared to $30.7M at December 31, 2013.
15:45 EDTTSpherix subsidiary settles with AT&T, files joint motion to dismiss
Spherix (SPEX) subsidiary Guidance IP has reached a settlement with AT&T (T), according to a court document filed August 7 in the U.S. District Court for the Northern District of Texas. The settlement stems from a lawsuit filed on December 6, 2013 by Spherix for infringement of its patent entitled, "System and Method for Determining the Geolocation of a Transmitter." Shares of small-cap Spherix are up 19% to $1.75 in later afternoon trading following the circulation of the court filing. Reference Link
15:00 EDTCQBChiquita Brands confirms $13 per share offer, says 'will review carefully'
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12:25 EDTCQBOn The Fly: Midday Wrap
Stocks on Wall Street opened in positive territory and have remained there throughout the morning. There was little in the way of a catalyst, as the economic calendar was empty, though investors may have been encouraged that there was no breakdown in the ceasefire agreement between Israel and Gaza and no big headlines from the Russia/Ukraine border. Additionally, some may have viewed comments from Fed Vice Chair Fischer as dovish and in support of continued easing. ECONOMIC EVENTS: In the U.S., no significant economic data was released. In prepared comments for a conference, Federal Reserve Vice Chairman Stanley Fischer said rebounds across advanced economies have been disappointing, leading the Fed and other observers to lower their long-term expectations for growth potential in the U.S. COMPANY NEWS: Shares of Kinder Morgan (KMI) advanced 10% after announcing it will consolidate its oil-and-gas holdings into one company by acquiring all of the outstanding shares of a number of its subsidiaries, including Kinder Morgan Energy Partners (KMP), Kinder Morgan Management (KMR) and El Paso Pipeline Partners (EPB). In addition to the rise in the shares of the parent, Kinder Morgan Energy shares rose 19%, Kinder Morgan Management gained 25% and El Paso Pipeline moved up 22%. MAJOR MOVERS: Among the notable gainers was salad and banana producer Chiquita Brands (CQB), which jumped 31% to trade above $13 per share after Cutrale Group and the Safra Group proposed to acquire 100% of the company's outstanding stock for $13 in cash each. Also higher was electric car maker Tesla (TSLA), which rose 5% after Deutsche Bank upgraded the stock to Buy from Hold and raised its price target on the shares to $310 from $220. Among the noteworthy losers was social game maker King Digital (KING), which slid 3% after the stock was downgraded at Pacific Crest to Sector Perform from Outperform. Also lower following their earnings reports were Inovio (INO), which fell over 8%, and Gogo (GOGO), which dropped nearly 6%. INDEXES: Near midday, the Dow was up 51.25, or 0.31%, to 16,605.18, the Nasdaq was up 38.19, or 0.87%, to 4,409.08, and the S&P 500 was up 10.12, or 0.52%, to 1,941.71.
09:20 EDTCQBCutrale Group and Safra Group propose to acquire Chiquita for $13 per share
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August 8, 2014
11:32 EDTTSprint is preparing to engage in fierce pricing war, WSJ reports
Sprint (S) is preparing to engage in a fierce price competition on the heels of an almost complete network revamp, according to the Wall Street Journal, citing Masayoshi Son, the CEO of parent company Softbank (SFTBY). Sprint is currently testing new pricing plans, and will utilize its "street fighter" strategies to take on larger rivals Verizon (VZ) and AT&T (T). "Price competition will intensify. Sprint will soon be ready to join the fray," Son said. Reference Link
07:56 EDTTSonus Networks upgraded to Outperform from Market Perform at Barrington
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August 7, 2014
13:22 EDTMONTMontage Technology downgraded to Hold from Buy at Deutsche Bank
Deutsche Bank downgraded Montage Technology to Hold following the company's Q2 results on expectations its takeover by PDSTI will be completed.
12:14 EDTDDDOn The Fly: Midday Wrap
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11:05 EDTDDD3D printer makers advance after Stratasys' beat and raise report
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10:00 EDTVODOn The Fly: Analyst Downgrade Summary
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09:08 EDTDDDOn The Fly: Pre-market Movers
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08:32 EDTRVLTRevolution Lighting reports Q2 EPS 1c vs. (7c) a year ago
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08:23 EDTCQBChiquita Brands reports Q2 EPS 37c, may not compare to consensus 65c
Reports Q2 revenue $826M, consensus $823.25M.
06:40 EDTMONTMontage Technology sees Q3 revenue $41M-$45M, consensus $41.64M
Sees Q3 gross margin 56%-59%.
06:39 EDTMONTMontage Technology reports Q2 adjusted EPS 30c, consensus 37c
Reports Q2 revenue $40.4M, consensus $38.02M.
06:21 EDTVODVodafone downgraded to Market Perform from Outperform at Raymond James
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