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Stock Market & Financial Investment News

News Breaks
June 13, 2014
16:43 EDTULTA, DG, SYNA, APO, HSH, IDIX, LULU, FDO, IGT, PPC, PCLN, MRK, HRB, INTC, AAPL, CG, TSN, OPENMarket ends week lower as Iraq fears weigh
Stocks finished the week lower, as fears about the revolution in Iraq and a potential civil war there, along with weak U.S. economic data, dragged down shares. MACRO NEWS: A revolution broke out in Iraq, as rebel fighters conquered a number of major cities in the northern section of the country and advanced towards the capital city of Baghdad. In the U.S., oil prices rose and stocks fell amid fears that a civil war could engulf Iraq, shutting down its sizable oil exports... Three key U.S. economic data points missed expectations, as an index of consumer sentiment, weekly jobless claims, and retail sales for May all missed consensus estimates. On a positive note, China said that its retail sales jumped 12.5% last month, beating market expectations and coming in at the highest level since last December. COMPANY NEWS: M&A deal flow continued to be strong. On Monday, Merck (MRK) agreed to buy Idenix (IDIX), which has developed a treatment for hepatitis C, for $3.85B, or $24.50 per share, which was more than triple the company's closing price on Friday. Tyson Foods (TSN) raised its bid for Hillshire Brands (HSH) to $63 per share in cash, or $8.55B, prompting rival Pilgrim's Pride (PPC) to withdraw its own takeover proposal. Priceline (PCLN) agreed to buy OpenTable (OPEN), which operates on online restaurant reservation platform, for $103 per share, or $2.6B. Synaptics (SYNA) agreed to buy Renesas SP Drivers, which supplies display driver chips for Apple's (AAPL) iPhones. Reuters reported that several companies, including Apollo Global (APO) and Carlyle Group (CG), are looking to buy International Game (IGT), which develops gaming equipment for casinos. Well-known activist investor Carl Icahn disclosed that he had obtained a significant stake in discount retailer Family Dollar (FDO) and subsequently told Fox Business that he may push for a merger between the company and peer Dollar General (DG)... Intel (INTC) raised its Q2 revenue outlook, citing stronger than expected demand for business PCs... Yoga apparel maker lululemon (LULU) sank after the company lowered its full-year guidance, while beauty supply store operator Ulta Salon (ULTA) and tax preparer H&R Block (HRB) rose after reporting stronger than expected results. INDEXES: The Dow was down 0.88% to 16,775.74, the S&P 500 was down 0.68% to 1,936.16, and the Nasdaq was down 0.25% to 4,310.65.
News For MRK;IDIX;OPEN;PCLN;HSH;TSN;PPC;APO;CG;IGT;SYNA;AAPL;FDO;DG;INTC;LULU;ULTA;HRB From The Last 14 Days
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July 22, 2015
10:01 EDTAAPLOn The Fly: Analyst Downgrade Summary
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09:55 EDTHRBRumor: H&R Block strength attributed to takeover speculation
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09:38 EDTAAPLActive equity options trading on open:
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09:32 EDTAAPLApple results disappointing, says Wells Fargo
Wells Fargo says that Apple's lower than expected Q3 iPhone sales suggest that it may be keeping inventories low because of low demand. The firm thinks the company faces a number of challenges in its September quarter, including product transitions, tough comps, China volatility and less differentiation in the 6S iPhone. Wells keeps a Market Perform rating.
09:07 EDTAAPLOn The Fly: Pre-market Movers
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08:58 EDTAAPLApple shares should be bought on weakness, says JMP Securities
After Apple reported higher than expected Q3 EPS but in-line revenue and the stock fell, JMP Securities says that the stock declined due to worries that the company's momentum is diminishing ahead of tougher comps. However, the firm finds the stock's valuation attractive, given the fact that other tech bellwethers are missing expectations. The firm is upbeat on the company's performance in China and believes that iPhone penetration can increase significantly.
08:33 EDTAAPLApple iPhone miss de-risks 2H 2015, says Morgan Stanley
Morgan Stanley said the 2.5M iPhone unit miss is a function of management's conservative approach to channel inventory given currency volatility and related price actions. Firm said demand remains strong despite price increases and sees a decent set-up for 2H channel inventory build that can lead to unit growth year-over-year. Morgan Stanley believes shares are attractive following reset expectations and reiterates its Overweight rating and lowered its price target to $155 from $166 on share.
08:22 EDTAAPLApple weakness a buying opportunity, says Baird
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07:44 EDTAAPLApple weakness creates buying opportunity, says RBC Capital
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07:27 EDTAAPLApple post-earnings selloff overdone, says JPMorgan
JPMorgan analyst Rod Hall views the post-earnings pullback in shares of Apple as overdone. The company made no mention of demand weakness while China results and commentary were positive, Hall tells investors in a research note. He recommends adding to positions on today's selloff and keeps an Overweight rating on Apple with a $145 price target.
07:20 EDTAAPLApple should be bought on weakness, says Stifel
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07:07 EDTAAPLApple iPhone sales light but no reason to sell stock, says UBS
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07:05 EDTAAPLApple shares still attractive, says Cantor
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07:04 EDTMRKMerck's Keytruda approved by EU for treatment of advanced melanoma in adults
Merck announced that the European Commission has approved KEYTRUDA, the company’s anti-PD-1 therapy, for the treatment of advanced melanoma in adults. The European Commission approval of pembrolizumab is based on data from three clinical studies conducted in more than 1,500 first-line and previously-treated patients with advanced melanoma. Pembrolizumab received European Commission regulatory approval based on Phase 3 data which showed it is the first and only anti-PD-1 therapy to provide a statistically superior survival benefit as a monotherapy compared to ipilimumab, the current standard of care for advanced melanoma. Today’s approval allows marketing of pembrolizumab in all 28 EU member states at the approved dose of 2 mg/kg every three weeks. The European Commission’s approval is based on data from three studies -- KEYNOTE-001, KEYNOTE-002 and KEYNOTE-006. These studies evaluated the efficacy and safety of pembrolizumab in advanced melanoma patients – across treatment lines, prognostic factors, tumor characteristics, and BRAF mutational status – and established 2 mg/kg every three weeks as the approved dose.
06:38 EDTAAPLApple downgraded to Market Perform from Outperform at Cowen
Cowen analyst Timothy Arcuri downgraded Apple to Market Perform and lowered his price target for shares to $130 from $140 following the iPhone maker's June quarter results. In a research note titled "Every Rose Has Its Thorn," Arcuri says "tepid" iPhone sales in the quarter coupled with his supply-side channel checks indicate that phone builds are down cycle-over-cycle for the first time. June quarter iPhone units were weaker than expected even after adjusting for channel inventory, the analyst tells investors. Apple is entering a transition period and the stock's risk/reward no longer supports a buy rating, Arcuri writes. Shares of Apple are down $7.09 to $123.66 in pre-market trading. On the flip side, Piper Jaffray analyst Gene Munster recommends buying the iPhone maker on today's selloff.
06:15 EDTINTCGoogle's updated Glass to be foldable, more weather-resistant, 9to5Google says
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06:05 EDTMRKMerck, Ablynx expand immuno-oncology collaboration
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05:55 EDTAAPLApple Watch component reserves to remain high until September, DigiTimes reports
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05:38 EDTAAPLPiper's Munster a buyer of Apple today on the selloff
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05:17 EDTAAPLApple shares drop after iPhone sales, guidance fail to impress
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