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Stock Market & Financial Investment News

News Breaks
January 23, 2014
09:23 EDTNFLX, CIE, SILC, PCP, ZHNE, VLO, PSTI, INO, LLY, AEO, UNP, ARIA, LMT, MCD, LUV, UAL, EBAY, LOGIOn The Fly: Pre-market Movers
UP AFTER EARNINGS: Netflix (NFLX), up 17%... Southwest Airlines (LUV), up 2.3%... Union Pacific (UNP), up 2%... Silicom (SILC), up 31%... Logitech (LOGI), up 16%... Lockheed Martin (LMT), up 1%... ALSO HIGHER: eBay (EBAY), up 2% after reporting earnings and guidance and also announcing it received a proposal from Carl Icahn regarding a spin-off of its PayPal unit... ARIAD (ARIA), up 10.6% after Daily Mail said Eli Lilly (LLY) approached the company about a possible deal... Inovio (INO), up 6.5% after announcing new immune activator... Pluristemae (PSTI), up 2.6% after receiving PEI approval for scaled-up 3D manufacturing... Valero (VLO), up 3% after giving Q4 guidance... Cobalt (CIE), up 4.6% after announcing first syn-rift discovery in deepwater Angola. DOWN AFTER EARNINGS: United Continental (UAL), up 2.9%... McDonald's (MCD), down 0.2%... Zhone (ZHNE), down 20%... Precision Castparts (PCP), down 2.5%. ALSO LOWER: American Eagle (AEO), down 6.4% after the company announced CEO Robert Hanson is leaving the company, to be replaced in interim by Jay Schottenstein.
News For NFLX;EBAY;UAL;LUV;MCD;LMT;ARIA;UNP;AEO;LLY;INO;PSTI;VLO;ZHNE;PCP;SILC;CIE;LOGI From The Last 14 Days
Check below for free stories on NFLX;EBAY;UAL;LUV;MCD;LMT;ARIA;UNP;AEO;LLY;INO;PSTI;VLO;ZHNE;PCP;SILC;CIE;LOGI the last two weeks.
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August 11, 2014
14:28 EDTINOInovio not seeking partner for VGX-3100 right now, says Maxim
Maxim noted that Inovio management indicated it plans to initiate a pivotal phase III study for VGX-3100 in early 2016 and estimated that a pivotal program should cost about $100M. The firm also noted that Inovio is not seeking a partner on the drug right now and that the pivotal trial could move up depending on the company's meeting with the FDA. Maxim maintains a Buy rating and $18 price target on Inovio.
12:25 EDTINOOn 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.
11:58 EDTLLYMannKind rallies after inking licensing agreement with Sanofi
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11:33 EDTMCDWorkday rises after reportedly winning record deal with McDonald's
Shares of cloud-based human capital management solution provider Workday (WDAY) are rising after the company is said to have won a deal with global fast food giant McDonald's (MCD) that would be the biggest in its history. WHAT'S NEW: JMP Securities analysts Patrick Walravens and Peter Lowry wrote in a note to investors this morning that the firm's checks indicate that Workday was awarded the human capital management business at McDonald’s, which the analysts said could be the biggest deal in the company’s history. The firm increased its estimate for Workday's Q2 billings to $185M from $182M, noting that both are above the company's guidance of $180M in billing for Q2. JMP maintains its Market Outperform rating and $126 price target on Workday, but the analysts noted that they like the stock over the longer-term, citing its market leading position in the Software-as-a-Service Enterprise Resource Planning space, which is set to triple from 2013 to 2020. PRICE ACTION: In late morning trading, shares of Workday gained $2.43, or 2.9%, to $86.34.
09:36 EDTNFLXActive equity options trading on open
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08:38 EDTINOInovio reports Q2 EPS (18c), consensus (19c)
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06:50 EDTLMTJason Communications to sponsor a symposium
17th Annual Space and Missile Defense Symposium to be held in Huntsville, Alabama on August 11-14.
06:49 EDTMCDWorkday won human capital business at McDonald's, says JMP Securities
JMP Securities says its due diligence indicates Workday (WDAY) won the human capital management business at McDonald's (MCD). JMP believes the contract could be the biggest deal in Workday's history and it raised its Q2 billings estimate to $185M from $182M. The firm keeps an Outperform rating on Workday with a $126 price target.
August 8, 2014
18:02 EDTLMTLockheed Martin awarded $193.6M government contract modification
Lockheed Martin Mission Systems and Training, Moorestown, New Jersey, has been awarded a $193,610,317 modification to previously awarded contract number HQ0276-10-C-0001 for procurement of necessary material, equipment, and supplies to conduct the technical engineering to define, develop, integrate and test Aegis Ballistic Missile Defense 4.1 and 5.0 Capability Upgrade baselines through their respective certifications. This modification brings the total cumulative face value of the contract to $2,002,542,722 from $1,808,932,405. Work will be performed at Moorestown, New Jersey, with an expected completion date of May 31, 2016. Fiscal 2014 research, development, test and evaluation funds in the amount of $19,500,000 are being obligated at time of award. The Missile Defense Agency, Dahlgren, Virginia, is the contracting activity.
17:10 EDTMCDMarket finishes week up slightly as earnings offset by political events
Stocks finished the week fractionally higher than where they started as strong corporate earnings reports and better than expected economic data was weighed against concerns about geopolitical issues and negative M&A news. MACRO NEWS: A few ongoing geopolitical conflicts worried investors and weighed on shares. Russia unveiled sanctions against Western countries, banning the import of a wide range of food items from the U.S, the EU and a few allied countries in response to sanctions recently enacted against it from G7 nations... President Obama authorized the bombing of rebels in Iraq and Hamas and Israel failed to reach a permanent truce... An ISM services index, the U.S. trade deficit for June, and weekly jobless claims were all better than expected. Meanwhile, the increase in unit labor costs last quarter came in below the consensus outlook, perhaps easing fears that the Fed will need to raise interest rates sooner than expected. COMPANY NEWS: On the M&A front, two huge potential deals fell through as 21st Century Fox (FOX, FOXA) withdrew its offer to acquire Time Warner (TWX) and Sprint (S) reportedly decided to end its pursuit of a merger with peer T-Mobile (TMUS)... President Obama indicated that his administration would take unilateral steps in an effort to prevent companies from carrying out tax inversion acquisitions. Among the deals or possible transactions that involve inversion are Medtronic's (MDT) acquisition of Covidien (COV), Valeant's (VRX) proposed takeover of Allergan (AGN) and Mylan's (MYL) acquisition of Abbott's (ABT) developed markets branded generics pharmaceuticals business. Meanwhile, Walgreen's (WAG) stock tumbled after the U.S. company said it would not structure its takeover of European drugstore chain Alliance Boots as a tax inversion deal... 21st Century Fox, 3D printer maker Stratasys (SSYS), chip maker NVIDIA (NVDA), brewer Molson Coors (TAP), and luxury accessories maker Coach (COH) all rose following their earnings reports. Conversely, Target (TGT), luxury accessories maker Michael Kors (KORS) and Internet coupon provider Groupon (GRPN) fell following their results or guidance... Gannett (GCI) struck a deal to acquire the remaining 73% interest in Classified Ventures, whose primary asset is the online car shopping website Cars.com, for $1.8B from the other partners in the venture, which include McClatchy (MNI), Tribune Media (TRBAA), Graham Holdings (GHC) and A. H. Belo (AHC). Gannett also announced plans to spin-off its Publishing business, which includes USA Today, through a tax-free distribution to shareholders... McDonald's (MCD) stock was little changed after the company reported that its comparable store sales fell 2.5% in July, which was significantly worse than expected. Food quality issues weighed on the fast food company's sales in Asia and as a result of the China supplier issue, the company warned its previously issued global comparable sales forecast for 2014 is now at risk. INDEXES: The Dow finished the week up 0.35% to 16,553.93, the S&P 500 rose 0.32% to 1,931.59, and the Nasdaq gained 0.41% to 4,370.90.
16:28 EDTMCDOn The Fly: Closing Wrap
Stocks began the session in positive territory despite President Obama authorizing air strikes against the Islamic State militant group in northern Iraq in conjunction with a humanitarian effort. The early move higher stalled but the market then moved higher as reports confirmed that Russian military aircraft exercises near the Ukraine border had ended, as planned. ECONOMIC EVENTS: In the U.S., productivity growth rose 2.5% in the second quarter, beating expectations for a rise of 1.6%. Second quarter unit labor costs, however, only increased 0.6%, which was below the 1% consensus forecast. Wholesale inventories increased 0.3% in June, and sales were up 0.2%, which were both below expectations. COMPANY NEWS: Shares of McDonald's (MCD) were fractionally higher despite the company reporting that its comparable store sales fell 2.5% in July, which was significantly worse than expected. The fast food giant stated that its U.S. comparable sales were down 3.2% in the month compared to the same month of last year and that comp sales in Asia/Pacific, Middle East and Africa dropped 7.3%. The APMEA region's comparable sales decline reflects the impact of food quality and safety issues at a supplier to McDonald's and other food companies in China which caused a "significant negative impact" to results in China, Japan and certain other markets, the company noted. As a result of the China supplier issue, the company's previously issued global comparable sales forecast for 2014 is now at risk, McDonald's added. MAJOR MOVERS: Among the notable gainers was chip maker NVIDIA (NVDA), which rose $1.54, or 8.82%, to $19.00 after the company’s second quarter profit and third quarter revenue outlook surpassed analysts’ consensus estimates. Also higher was small-cap Tekmira Pharmaceuticals (TKMR), which jumped $6.43, or 45.06%, to $20.70 after announcing that the FDA has verbally confirmed they have modified the full clinical hold placed on the TKM-Ebola Investigational New Drug Application to a partial clinical hold. Among the noteworthy losers was cereal maker Post Holdings (POST), which fell $7.08, or 15.91%, to $37.43 and was downgraded to Neutral from Buy at SunTrust after the company reported an adjusted net loss for its third quarter and agreed to acquire American Blanching Company for $128M. Also lower were shares of Ignite Restaurant (IRG), the owner of the Joe’s Crab Shack and Macaroni Grill brands, which fell $4.33, or 34.98%, to $8.05 after reporting second quarter results that missed analysts' expectations and having its shares downgraded at Raymond James and CL King. INDEXES: The Dow advanced 185.66, or 1.13%, to 16,553.93, the Nasdaq gained 35.93, or 0.83%, to 4,370.90, and the S&P 500 rose 22.02, or 1.15%, to 1,931.59.
16:00 EDTNFLXOptions Update; August 8, 2014
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12:34 EDTMCDOn The Fly: Midday Wrap
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10:53 EDTUALUnited Air laying off over 100 employees in Detroit, Detroit Free Press reports
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09:37 EDTNFLX, MCDActive equity options trading on open
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09:15 EDTMCDOn The Fly: Pre-market Movers
HIGHER: NVIDIA (NVDA), up 4.2%, upgraded at Needham following its better than expected Q2 results... Arista Networks (ANET), up 8%, upgraded at Citigroup following better than expected Q2 results, announcing an expanded strategic relationship with VMware (VMW)... Tekmira Pharmaceuticals (TKMR), up 17.5% after announcing that the FDA verbally confirmed they have modified the full clinical hold placed on its TKM-Ebola treatment to a partial clinical hold... Gap (GPS), up 4.7% after July same-store sales rose 2%, company issues Q2 EPS outlook above the consensus estimate... lululemon (LULU), up 2.4% after founder agrees to sell half his stake to Advent for $845M. UP AFTER EARNINGS: SolarCity (SCTY), up 1%... Assured Guaranty (AGO), up 9%... MercadoLibre (MELI), up 13.6%. LOWER: Zynga (ZNGA), down 6% after lowering fiscal 2014 guidance... McDonald's (MCD), down 0.4% after Chinese supplier issue contributes to July comparable sales drop of 2.5%.
08:34 EDTMCDMcDonald's warns 2014 comparable sales forecast at risk due to China issue
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08:02 EDTMCDMcDonald's: AMPEA's sales reflect negative impact of food quality issues
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07:58 EDTMCDMcDonald's rejports July global comparable sales down 2.5%
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06:11 EDTMCDOSI withdraws products made in Shanghai in response to food scandal
After dealing with a food scandal, OSI China, parent company of Shanghai Husi Food, announced the withdrawal of products produced in Shanghai. The company said, "Husi is the subject of company and government investigations and it is proceeding smoothly. While there have been no reported illnesses linked to any Shanghai Husi products, recovering this production is an important step in facilitating the investigations and rebuilding the respect and trust of our customers, the government and the people of China. With assistances and guidance provided by Shanghai FDA, we have started the recovery process of products in question in a comprehensive and orderly." Worldwide brands such Yum! Brands (YUM) McDonald's (MCD) and Starbucks (SBUX) were affected by the scandal in China. Reference Link
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