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Stock Market & Financial Investment News

News Breaks
April 4, 2014
12:09 EDTSNX, ETFC, MYL, HALO, PBPB, AMTD, GRUBOn The Fly: Midday Wrap
Stocks on Wall Street were lower at midday despite the government reporting that employers added 192K jobs in March and hired more in January and February than previously thought. The Nasdaq, which has been leading the equity indexes higher since the beginning of the year, is today's leader to the downside. While the Dow and S&P were down fractionally near noon, the Nasdaq was down about 2%. ECONOMIC EVENTS: In the U.S., the Department of Labor's monthly jobs report showed nonfarm payrolls increased 192K in March, versus the consensus forecast for 200K job additions. Notably, February's job gain was revised up to 197K from the prior estimate of 175K and January war revised up to 144K from 129K. The unemployment rate in March was steady at 6.7%. COMPANY NEWS: Shares of drugmaker Mylan (MYL) were up by a double-digit percentage in pre-market trading following a Financial Times report of the company's desire to buy Swedish rival Meda. Subsequent to the story being published, Meda confirmed it had been in talks with Mylan but rejected the company's takeover offer. Despite the rejection, Mylan shares remained up about 4% near midday... Four new stocks made their debuts on the New York Stock Exchange and Nasdaq this morning, highlighted by the initial public offering of food delivery service GrubHub (GRUB). GrubHub, which had priced its offering of 7.41M shares at $26.00, opened for trade at $40.00 per share. MAJOR MOVERS: Among the notable gainers was SYNNEX (SNX), which rallied 22% after the company’s first quarter results and second quarter outlook topped analysts’ consensus estimates. Also higher were shares of sandwich shop owner Potbelly (PBPB), which rose almost 6% after its stock was upgraded to Outperform at William Blair. Among the noteworthy losers was Halozyme (HALO), which dropped 29% after an independent committee recommended it temporarily halt patient enrollment and dosing of a Phase 2 trial evaluating a drug in patients with pancreatic cancer. Also lower for a second straight day were shares of brokerage firms E-Trade (ETFC) and TD Ameritrade (AMTD) amid concerns that regulators will look to eliminate one of the companies' more profitable businesses amid a growing furor over high-frequency trading sparked by Michael Lewis' new book "Flash Boys." INDEXES: Near midday, the Dow was down 34.07, or 0.21%, to 16,538.48, the Nasdaq was down 85.13, or 2.01%, to 4,152.61, and the S&P 500 was down 9.66, or 0.51%, to 1,879.11.
News For MYL;GRUB;PBPB;ETFC;AMTD;HALO;SNX From The Last 14 Days
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February 4, 2016
10:10 EDTGRUBOptions with decreasing implied volatility
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09:03 EDTGRUBGrubHub sees FY16 revenue $445M-$465M, consensus $448.78M
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09:03 EDTGRUBGrubHub sees Q1 revenue $109M-$112M, consensus $110.37M
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09:03 EDTGRUBGrubHub reports Q4 Active Diners up 34% to 6.75M
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09:02 EDTGRUBGrubHub reports Q4 non-GAAP EPS 19c, consensus 14c
Reports Q4 revenue $99.96M, consensus $99.42M.
08:33 EDTAMTDTD Ameritrade to acquire assets of FA Insight
TD Ameritrade has agreed to acquire the research, benchmarking and consulting capabilities of FA Insight. The transaction is expected to be completed by the second quarter of 2016.
February 3, 2016
14:48 EDTGRUBNotable companies reporting before tomorrow's open
Notable companies reporting before tomorrow's open, with earnings consensus, include Philip Morris (PM), consensus 81c... AstraZeneca (AZN), consensus 88c... Occidental Petroleum (OXY), consensus (12c)... ConocoPhillips (COP), consensus (65c)... Cigna (CI), consensus $1.80... Intercontinental Exchange (ICE), consensus $3.01... Boston Scientific (BSX), consensus 25c... Charter Communications (CHTR), consensus (12c)... Ralph Lauren (RL), consensus $2.13... Dunkin' Brands (DNKN), consensus 50c... GrubHub (GRUB), consensus 14c... Level 3 (LVLT), consensus 53c... AmerisourceBergen (ABC), consensus $1.25... Cummins (CMI), consensus $2.11.
12:21 EDTGRUBGrubHub expands delivery service to Washington D.C.
GrubHub announced that its delivery service is available in Washington D.C. GrubHub currently provides delivery services for more than 15 restaurants in Washington D.C.
08:54 EDTGRUBGrubHub volatility elevated into Q4 and outlook
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06:13 EDTMYLPfizer insists Allergan deal won't be thwarted by U.S. politicians, FT says
Pfizer (PFE) has insisted that its $160B acquisition of Allergan (AGN) will not be stifled by political opposition, amid criticism that the deal will cost the U.S. Treasury billions of dollars in future tax revenues, the Financial Times reports. Pfizer CEO Ian Read also reiterated his intention to postpone until 2018 a decision on whether to break of the combined entity into two or three smaller companies, but has said that he would be open to offers for its generics unit, the report says. Mylan (MYL) has been connected to a potential acquisition of Pfizer's generic drugs business after it failed in its attempt to buy Perrigo (PRGO) last year, the report says. Reference Link
February 1, 2016
15:56 EDTGRUBPAR Investment reports 6.4% passive stake in GrubHub
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10:05 EDTHALOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Acadia (ACHC) initiated with an Overweight at KeyBanc... Altisource Residential (RESI) initiated with a Neutral at Nomura... Colony Starwood Homes (SFR) initiated with a Buy at Nomura... EyeGate (EYEG) initiated with a Buy at Rodman & Renshaw... Fortinet (FTNT) initiated with an Outperform at Northland... Halozyme (HALO) initiated with a Buy at Canaccord... Lendingtree (TREE) initiated with an Outperform at Northland... Lindblad Expeditions (LIND) initiated with an Outperform at Credit Suisse... Summit Therapeutics (SMMT) initiated with a Buy at Canaccord... VolitionRx (VNRX) initiated with a Buy at Rodman & Renshaw.
08:04 EDTMYLTeva Mylan not seeing same negative trends as Sandoz, says Bernstein
After Novartis (NVS) reported weak results for its generics unit, Sandoz, and blamed it on industry trends, Bernstein quotes Mylan (MYL) and Teva (TEVA) as saying that they are seeing only "slight adjustments back to normal levels" from "mildly favorable" results in 2014 and 2015. Bernstein says that Sandoz has lost a number of fairly profitable products and has had fewer approvals than its peers. Bernstein keeps Outperform ratings on Teva and Mylan.
07:20 EDTHALOHalozyme initiated with a Buy at Canaccord
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January 29, 2016
17:26 EDTGRUBLuxor Capital Partners reports 7.1% stake in GrubHub
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January 27, 2016
11:06 EDTGRUBPelham capital raises stake in GrubHub to 6.4% from 5.19%
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January 26, 2016
15:08 EDTGRUBGrubHub expands delivery service to San Francisco
GrubHub announced that its delivery service is available in the San Francisco market. GrubHub currently provides delivery services for more than 400 restaurants in the Bay Area, a number that will continue to grow, the company said.
07:49 EDTGRUBGrubHub Q4 results better than expected, says Brean Capital
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January 25, 2016
08:08 EDTGRUBGrubHub sees Q4 revenue in high end of $98M-$100M, consensus $99.26M
Sees Q4 adjusted EBITDA to be modestly above $23M-$25M.
08:08 EDTGRUBGrubHub authorizes stock repurchase program of up to $100M
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