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Stock Market & Financial Investment News

News Breaks
July 1, 2014
12:34 EDTSTAA, FOLD, NFLX, SNY, AYI, REGN, TWTROn The Fly: Midday Wrap
Stocks on Wall Street were sharply higher at midday in the first trading day of the month and the new quarter. The market has not had such a good start to the second half of a year since 2011. The day’s domestic economic data was generally in-line with expectations, while reports from abroad confirmed that manufacturing expanded last month in China and in the eurozone. ECONOMIC EVENTS: In the U.S., two separate manufacturing readings were released. Markit's manufacturing purchasing manager's index for June had a final reading of 57.3, which was a hair below the 57.5 flash estimate but up from May's 56.4 reading. ISM's manufacturing index slipped very slightly to 55.3 in June from May's 55.4 figure. Construction spending increased 0.1% in May, missing the forecast for 0.5% growth. In China, the purchasing manager's index reading from HSBC and Markit came in at 50.7, which was a bit below the preliminary reading but above the 50 mark that indicates expansion for the first time since December. In Europe, Markit's final eurozone manufacturing PMI for June came in at 51.8, which was down from 52.2 in the prior month and below the earlier flash estimate of 51.9, but still indicated expansion in the sector. COMPANY NEWS: Shares of Netflix (NFLX) climbed 6% after Goldman Sachs upgraded the stock in a note to investors earlier today, predicting that Netflix's total worldwide market will more than double over the next three years and its subscriber growth will continue to exceed expectations... Twitter (TWTR) rose more than 4% after hiring Anthony Noto as its new Chief Financial Officer away from Goldman Sachs (GS), which had handled the social network's IPO. Noto served as a Managing Director in the Technology, Media and Telecom group at Goldman since October 2010 after having served as the CFO of the National Football League previously. MAJOR MOVERS: Among the notable gainers was Amicus Therapeutics (FOLD), which rose 23% following upgrades at Leerink and Janney Capital that came a day after the company provided updates on its potential monotherapy for Fabry patients. Also higher was Regeneron (REGN), which advanced 7% after Sanofi (SNY) disclosed in a regulatory filing that it plans to increase its beneficial ownership stake in its smaller pharmaceutical industry peer to 22.5% from 20.5%. Among the noteworthy losers was STAAR Surgical (STAA), which dropped 18% after it received a warning letter from the FDA following the regulator's inspection of a manufacturing plant. Also lower following its earnings reports was lighting solutions maker Acuity Brands (AYI), which fell 13% after its sales and profits missed expectations. INDEXES: Near midday, the Dow was up 134.80, or 0.8%, to 16,961.40, the Nasdaq was up 50.88, or 1.15%, to 4,459.06, and the S&P 500 was up 13.62, or 0.69%, to 1,973.85.
News For NFLX;TWTR;AYI;FOLD;REGN;SNY;STAA From The Last 14 Days
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June 17, 2015
05:59 EDTTWTRInterim Twitter CEO Dorsey not leaving role as Square CEO, Re/code reports
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05:56 EDTTWTRStocks with implied volatility movement; TWTR NBG
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June 16, 2015
16:01 EDTNFLX, TWTRApple Twitter Facebook Bank of America Yahoo Netflix Alibaba WisdomTree Coca-Cola Goldman Sachs Micron General Electric
iPath S&P 500 VIX Short-Term Futures down 33c to 18.68. Option volume leaders: AAPL TWTR FB BAC YHOO NFLX BABA WETF KO GS MU GE.
15:25 EDTNFLXNetflix rises after analyst downplays impact of Alibaba competition
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14:47 EDTTWTRBanking sources say Twitter open to potential sale, Gasparino says
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13:56 EDTTWTRTwitter hits 52-week low after MKM downgrades on user growth concerns
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13:24 EDTTWTRTwitter's Costolo says CEO search should be 'out in the open,' Bloomberg reports
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11:06 EDTTWTRTwitter introduces autoplay video and new viewability standard
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11:02 EDTTWTRStocks with call strike movement; TWTR FEYE
RT Options Scanner shows Twitter (TWTR) September 39 call option implied volatility increased 4% to 46, FireEye (FEYE) December 60 call option implied volatility increased 3% to 46 according to IVolatility.
10:43 EDTREGNBattleground: Analysts split on Avalanche after 'controversial' data reported
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10:18 EDTNFLXOptions with increasing implied volatility
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10:01 EDTTWTRTwitter hits a new 52-week low, levels to watch
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10:01 EDTTWTROn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: AIG (AIG) downgraded to Hold from Buy at Deutsche Bank... Alumina (AWCMY) downgraded to Neutral from Outperform at Credit Suisse... Avalanche Biotechnologies (AAVL) downgraded on lack of catalysts at SunTrust... DealerTrack (TRAK) downgraded to Hold from Buy at Craig-Hallum... Greenbrier (GBX) downgraded to Hold from Buy at Stifel... Methode Electronics (MEI) downgraded to Neutral at Baird... Profire Energy (PFIE) downgraded to Hold from Buy at Maxim... Standard Pacific (SPF) downgraded to Neutral from Outperform at Credit Suisse... The Fresh Market (TFM) downgraded to Sell from Neutral at Northcoast... Twitter (TWTR) downgraded to Neutral at MKM Partners on stalled user growth... United Natural Foods (UNFI) downgraded to Hold from Buy at Argus... United Rentals (URI) downgraded to Underperform from Neutral at Macquarie.
09:36 EDTTWTRActive equity options trading on open
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08:47 EDTNFLXNetflix price target raised to $780 from $600 at Needham
Needham analyst Laura Martin raised her price target for shares of Netflix (NFLX) to $780 saying Charter (CHTR) and others offering the streaming service should drive U.S. subscription growth. Further, the company's international subscribers have up to three times faster profit trajectories than their U.S. counterparts, Martin tells investors today in a research note. Netflix will also add advertising revenue "someday," the analyst believes. She keeps a Buy rating on the stock. Netflix shares have sold off recently on Alibaba's (BABA) newly announced streaming service, Martin notes. But she points out China was not in her estimates for Netflix and that she doesn't expect a negative impact on other regions. Shares of Netflix closed yesterday at $654.02.
07:51 EDTTWTRTwitter downgraded to Neutral at MKM Partners on stalled user growth
As previously reported, MKM Partners analyst Rob Sanderson downgraded Twitter (TWTR) to Neutral from Buy, noting that growth in its user base is stalling out and he sees no catalyst for sentiment to improve in the next two quarters, besides a possible bid from Google (GOOG). Sanderson thinks the company's CEO search brings with it some uncertainty and likely delays user experience improvements, unless Jack Dorsey takes over full-time, but that would require him to give up his CEO post at Square. The firm lowered its estimates on Twitter and cut its price target on the shares to $39 from $57.
06:24 EDTTWTRTwitter downgraded to Neutral from Buy at MKM Partners
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05:55 EDTREGNRegeneron competitive threat eased with Avalanche data, says Piper Jaffray
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05:53 EDTTWTRStocks with implied volatility above IV index mean; TWTR AA
Stocks with implied volatility above IV index mean; Twitter (TWTR) 32, Alcoa (AA) 32 according to iVolatility.
05:45 EDTNFLXStocks with implied volatility movement; NFLX NBG
Stocks with implied volatility movement; Netflix (NFLX) 46, National Bank of Greece (NBG) 214 according to iVolatility.
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