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Stock Market & Financial Investment News

News Breaks
July 11, 2013
12:19 EDTKOG, AMD, MACK, MSFT, BPIOn The Fly: Midday Wrap
Stocks on Wall Street were higher at midday as the S&P 500 eclipsed its all-time closing high and stood within points of its record intraday high. The strength in the equity markets comes after Federal Reserve Chairman Ben Bernanke gave a speech in Massachusetts yesterday afternoon. During his Q&A session, Bernanke noted that that even though the Fed may begin reducing its bond buying soon, interest rates will stay pinned at their current low levels for a long time. The chairman also pointed out that the unemployment rate probably understates the weakness in the labor market evidenced by other measures, such as the labor participation rate. Though Bernanke may not have intended to deliver a major monetary message, investors appear to be receiving it as such, driving the averages higher again. ECONOMIC EVENTS: In the U.S., initial jobless claims in the week ended July 6 jumped a more-than-expected 16K to 360K. Import prices fell 0.2% from the prior month in June, versus expectations for them to be flat. COMPANY NEWS: Microsoft (MSFT) announced the details of what the company called its "One Microsoft" reorganization plan. The new structure focuses the company’s engineering efforts around four areas: OS, Apps, Cloud, and Devices. Also of note, the company's Windows and Office products will fall under new leadership following the realignment. On a down note for the software maker was data released last night by market researcher Gartner that showed second quarter global PC shipments fell 10.9% to 76M, while another researcher, IDC, pegged the decline at 11.4%. MAJOR MOVERS: Among the notable gainers was Bridgepoint Education (BPI), which surged 20% after the company's flagship college, Ashford University, was granted accreditation, after having been denied accreditation last year. Also higher were shares of Advanced Micro Devices (AMD), which rose nearly 10% following upgrades at two Street research firms. Among the noteworthy losers was Merrimack Pharmaceuticals (MACK), which fell 20% after the company filed to sell $50M in common stock and $75M in convertible senior notes. Also lower was Kodiak Oil & Gas (KOG), which slid more than 2% after The Wall Street Journal said, citing sources, that the company had hired bankers last year to field interest from possible takeover suitors, though talks with potential buyers did not result in a deal. INDICES: Near noon, the Dow was up 129.98, or 0.85%, to 15,421.64; the Nasdaq was up 41.83, or 1.19%, to 3,562.59; and the S&P 500 was up 16.15, or 0.98%, to 1,668.77.
News For MSFT;AMD;BPI;MACK;KOG From The Last 14 Days
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December 9, 2014
16:19 EDTAMDAMD announces move to NASDAQ
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07:41 EDTAMDBarclays to hold a conference
Global Technology Conference is being held in San Francisco on December 9-10 with webcasted company presentations to begin on December 9 at 10:40 am; not all company presentations may be webcasted. Webcast Link
07:22 EDTAMDBMO Capital to hold a conference
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06:27 EDTMSFTSamsung, white-box makers to benefit from Microsoft Mobile exit, DigiTimes says
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December 8, 2014
13:21 EDTMSFTMicrosoft files appeal in case on customer data in Ireland
Microsoft said on its blog that it has filed an appeal in its ongoing case challenging a U.S. government search warrant for customer data stored in Ireland. Microsoft said it filed the appeal after a U.S. district court judge rejected the company’s argument that the warrant is illegal because it calls for the seizure of emails stored outside the United States. Reference Link
12:40 EDTMSFTOn The Fly: Midday Wrap
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10:44 EDTMSFTDigital River grants Microsoft extestion to decide on renewing pact
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10:04 EDTMSFTAccenture and Microsoft launch hybrid cloud platform
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07:32 EDTAMDRaymond James to hold a conference
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07:03 EDTKOGWhiting Petroleum completes acquisition of Kodiak Oil & Gas
Whiting Petroleum Corporation (WLL) announced that it has completed its previously announced acquisition of Kodiak Oil & Gas Corp (KOG). The closing of the transaction follows the issuance of a final order by the Supreme Court of British Columbia approving the Arrangement on December 5, 2014. The all-stock transaction was previously approved by Whiting stockholders and Kodiak securityholders at special meetings held on December 3, 2014. The transaction enhances Whiting’s leading oil-weighted platform and is expected to drive production, reserve growth and operational efficiencies. Based on the closing price of Whiting stock on December 5, 2014, the combined company has a market capitalization of approximately $6.2B. As a result of the completion of the merger, the common stock of Kodiak Oil & Gas Corp. is no longer listed for trading on the New York Stock Exchange. Pursuant to the terms of the Arrangement, each share of common stock of Kodiak Oil & Gas Corp. will be exchanged for 0.177 of a share of Whiting common stock.
December 5, 2014
16:52 EDTMSFTDow just below 18K as market finishes week with gains
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07:46 EDTMSFTCIO survey results favorable for Microsoft, says Pacific Crest
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December 4, 2014
16:27 EDTMSFTOn The Fly: Closing Wrap
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12:34 EDTMSFTMicrosoft advances after analyst hikes target on upbeat earnings forecast
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12:22 EDTMSFTOn The Fly: Midday Wrap
Stocks on Wall Street began the session slightly lower despite relatively in-line jobless claims data, as European markets moved down following a rate decision and accompanying commentary from ECB President Mario Draghi. Adding to the modest pressure seen in morning trading may be the fact that oil prices continue to move lower. ECONOMIC EVENTS: In the U.S., initial jobless claims fell 17K to 297K in the week ended November 29, which was nearly in-line with the expectation for 295K first-time claims. Challenger reported announced layoffs fell 15.2K in November to 35.9K. In Europe, the European Central Bank kept its key rates unchanged, as expected. ECB President Mario Draghi said in his accompanying press conference that the latest euro area macroeconomic projections indicate lower inflation, accompanied by weaker real GDP growth and subdued monetary dynamics. Additionally, he stated that early next year the Governing Council will reassess the monetary stimulus achieved, the expansion of the balance sheet and the outlook for price developments. "Should it become necessary to further address risks of too prolonged a period of low inflation, the Governing Council remains unanimous in its commitment to using additional unconventional instruments within its mandate. This would imply altering early next year the size, pace and composition of our measures," Draghi said. COMPANY NEWS: Shares of Barnes and Noble (BKS) slid about 10% after the company reported lower than expected second quarter earnings and said it continues to expect both Retail comparable bookstore sales and Retail Core comparable bookstore sales to decline in the low-single digits this fiscal year. Additionally, Barnes & Noble and Microsoft (MSFT) agreed to terminate their commercial agreement and B&N agreed to acquire Microsoft's entire preferred interest in NOOK Media in exchange for $62.4M cash and 2.74M shares of its stock. MAJOR MOVERS: Among the notable gainers was Hawaiian Electric (HE), which jumped 16% after its board approved a plan to spin off ASB Hawaii, the parent company for American Savings Bank, and establish it as an independent publicly traded company and NextEra Energy (NEE) agreed to acquire the company, excluding the banking subsidiary. Array BioPharma (ARRY) rose 15% after announcing it has reached a definitive agreement with Novartis (NVS) to regain full worldwide rights to binimetinib, a MEK inhibitor in three Phase 3 trials, which Piper Jaffray called a "big win" for the company. Among the noteworthy losers was UTi Worldwide (UTIW), which fell 11.5% after confirming that exploratory conversations have taken place with DSV, but adding those discussions never progressed beyond a preliminary stage and that no talks are currently taking place. Also lower were shares of Express (EXPR), which declined over 9% after the apparel retailer reported lower than expected Q3 revenue and gave EPS guidance that fell short of estimates. INDEXES: Near midday, the Dow was down 53.56, or 0.3%, to 17,859.06, the Nasdaq was down 2.80, or 0.06%, to 4,771.67, and the S&P 500 was down 5.49, or 0.26%, to 2,068.84.
10:36 EDTKOGOptions with increasing implied volatility
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10:08 EDTMSFTBarnes & Noble says Pearson continues to have 5% interest in Nook Media LLC
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08:46 EDTMSFTBarnes & Noble to pay $62.4M, 2.74M shares for Microsoft Nook stake
08:44 EDTMSFTBarnes & Noble to acquire preferred interest in NOOK Media from Microsoft
Barnes & Noble (BKS) filed a Form 8-K with the SEC stating that Barnes & Noble and Microsoft (MSFT) have agreed to terminate their commercial agreement including any associated obligations for international content acquisition and sale. Such termination will allow the company to continue its rationalization of the NOOK Digital business and enhances Barnes & Noble’s operational and strategic flexibility. The termination also relieves Microsoft of any obligation to continue to fund support and other payments set forth in the commercial agreement between the partners. Additionally, the company stated that it had entered into an agreement with Microsoft to acquire its entire preferred interest in NOOK Media, LLC. As a result of today’s announcement, Barnes & Noble expects that the completion of the potential separation of the company's businesses could occur by the end of August 2015, although there can be no assurances regarding the timing of such potential separation or that such separation will be completed.
07:25 EDTMSFTMicrosoft price target raised to $56 from $50 at Nomura
Nomura raised Microsoft's price target to $56 to reflect the new Board's potential return of cash to shareholders. The analyst believes the Board is looking at several scenarios that include a leveraged recapitalization to buy back half its stock over a multi-year period, to a more likely, 5%-10% repurchase of shares. The firm rates shares a Buy.
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