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Stock Market & Financial Investment News

News Breaks
April 4, 2014
12:09 EDTHALO, PBPB, AMTD, GRUB, SNX, ETFC, MYLOn 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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November 26, 2014
07:48 EDTMYLMylan now most likely takeover target for Pfizer, says Jefferies
Jefferies believes Mylan (MYL), following its combination with Abbott's (ABT) Developed Markets Established Products business, is now the most likely takeover target of Pfizer (PFE). The firm thinks Pfizer management is highly motivated to either merge with, invert into or acquire a foreign company. It believes Actavis (ACT) and AstraZeneca (AZN) are off the table as potential Pfizer targets given the former's takeover of Allergan (AGN) and latter's oncology deal with Merck KGaA (MKGAY). Jefferies calls GlaxoSmithKline (GSK) the "wild card" potential takeover target for Pfizer. The firm estimates Pfizer could pay a 25% premium for Mylan and have the deal be highly accretive.
November 25, 2014
07:33 EDTMYLMylan sued by Baxter in connection with ANDA for Esmolol HCl
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November 24, 2014
10:19 EDTGRUBGrubHub management to meet with Barrington
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November 19, 2014
10:14 EDTMYLMylan November calls active on takeover speculation
Mylan November 55 & 57.5 calls are active on total call volume of 7,100 contracts (200 puts) on takeover speculation. November call option implied volatility is at 36, December is at 34; compared to its 26-week average of 32 according to Track Data. Active call volume suggests traders taking positions for upside price movement.
09:51 EDTMYLRumor: Mylan strength attributed to takeover speculation
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07:47 EDTETFC, AMTDKeefe Bruyette to hold a conference
Securities Brokerage & Market Structure Conference is being held in New York on November 19 with webcasted company presentations to begin at 7:45 am. Webcast Link
07:42 EDTETFC, AMTDTraders Expo to hold a conference
International Traders Expo 2014 is being held in Las Vegas on November 19-22.
November 14, 2014
08:06 EDTETFCE-Trade reports October DARTs up 9% from September
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November 13, 2014
07:38 EDTMYLBloomberg Link to hold a conference
The Year Ahead: 2015 is being held in Washington, D.C. with a pre-conference dinner on November 13 followed by company presentations on November 14,
November 12, 2014
07:36 EDTETFCE-Trade says to reduce corporate debt outstanding by $400M
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07:28 EDTAMTDBofA/Merrill to hold a conference
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