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Stock Market & Financial Investment News

News Breaks
June 27, 2014
16:27 EDTNKE, DD, FINL, MNKD, MTW, DG, AMEDOn The Fly: Closing Wrap
Stocks on Wall Street were higher after a late day rise allowed all of the major averages to end the week on a high note. The averages began the session in negative territory but soon turned mixed. The Nasdaq was able to hold its head above water for most of the session while the Dow struggled for most of the day under the weight of DuPont (DD) shares, which were down more than 3% after the company lowered its guidance. ECONOMIC EVENTS: In the U.S., the final University of Michigan consumer sentiment index for June rose to 82.5, which beat the consensus expectation for a reading of 81.9. COMPANY NEWS: Shares of athletic apparel and footwear giant Nike (NKE) and sports shoe retailer Finish Line (FINL) climbed after both companies reported better than expected quarterly sales and profits. Dow member Nike rose 82c, or 1.07%, to $77.68, while Finish Line advanced 41c, or 1.41%, to $29.56... Another member of the Dow Jones Industrial Average, DuPont, moved in the opposite direction, falling $2.26, or 3.34%, to $65.44 after the industrial conglomerate cut its earnings outlook for its second quarter and its current fiscal year. MAJOR MOVERS: Among the notable gainers was Amedisys (AMED), which rose $4.01, or 29.81%, to $17.46 and was upgraded at CRT Capital after the company gave Q2 guidance. Also higher was Manitowoc (MTW), which gained $3.22, or 10.84%, to $32.93 and was upgraded to Hold at Jefferies after activist Relational Investors took an 8.5% stake in the company and urged for a spin-off of its food business. Among the noteworthy losers was discount retailer Dollar General (DG), which fell $4.49, or 7.28%, to $57.19 after Chief Executive Officer Rick Dreiling announced plans to retire. Also lower were shares of MannKind (MNKD), which dropped 58c, or 5.48%, to $10.00 after the FDA approved its Afrezza inhalation powder to treat diabetes but required the drug to have a Boxed Warning and required the company to conduct several post-marketing studies on the drug. INDEXES: The Dow was up 5.71, or 0.03%, to 16,851.84, the Nasdaq was up 18.88, or 0.43%, to 4,397.93, and the S&P 500 was up 3.74, or 0.19%, to 1,960.96.
News For NKE;DD;FINL;MNKD;MTW;DG;AMED From The Last 14 Days
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August 18, 2014
12:47 EDTDGDollar General upgraded to Overweight from Equal Weight at Johnson Rice
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12:18 EDTDGThe Fly: Midday Wrap
The market opened in positive territory following news that Russia and Ukraine were working on a potential ceasefire. The market had faltered on Friday following reports that the Ukraine army had attacked a Russian military vehicle after it crossed into Ukraine territory. The market opened sharply higher and then received an additional boost when the NAHB Housing market Index came in above expectations. The averages quickly moved to session highs, lifting the S&P to its highest level ever and putting August on track for the best monthly performance since February. ECONOMIC EVENTS: The NAHB homebuilder sentiment index rose 2 points to 55 in August. The index had climbed 4 points to 53 in July. This is the highest level since January's 56. The single family sales index edged up to 58 from 56 (revised from 57). The future index was 65 from 63 (revised from 64). The index of prospective buyer traffic improved to 42 from 39 (revised from 39). Data was better than expected. COMPANY NEWS: Shares of discount retailer Dollar General (DG) were higher by about 10% after the company announced a proposal to acquire rival Family Dollar (FDO) for $78.50 per share in cash, in a transaction valued at $9.7B. Shares of Family Dollar rose approximately 5% on the news. MAJOR MOVERS: Among the notable gainers was Sensata Technologies (ST), which rose 5.6% after after agreeing to buy privately held Schrader International for $1B. Also higher was Lannett (LCI), which gained 9.3% after the company said fourth quarter and full-year 2014 earnings per share and revenue would exceed analysts' consensus estimates. Among the noteworthy losers was Monster Beverage (MNST), which fell about 4% after research firm Jefferies downgraded the shares to Hold from Buy saying the valuation looks full following its recent rally. Also lower was NXP Semiconductors (NXPI), which dropped 2.3% after Goldman Sachs downgraded the company to Sell from Neutral, and downgraded the semiconductor sector to Cautious from Neutral. The firm expects consensus estimates to move lower due to cyclical headwinds, increased Q4 and Q1 seasonality, and a RF correction. Goldman lowered their price target on the shares to $54 from $58. INDEXES: Near midday, the Dow was up 168.13, or 1.01%, to 16,831.04, the Nasdaq rose 44.11, or 0.99%, to 4,508.87, and the S&P 500 was higher by 16.79, or 0.86%, to 1,971.88.
11:53 EDTDGFamily Dollar likely to favor a Dollar Tree bid, says Wells Fargo
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10:01 EDTDGOn The Fly: Analyst Upgrade Summary
Today's noteworthy upgrades include: Achillion (ACHN) upgraded to Buy from Hold at Deutsche Bank... CNOOC (CEO) upgraded to Neutral from Underperform at Credit Suisse... Dollar General (DG) upgraded to Buy from Neutral at Sterne Agee... Equity Residential (EQR) upgraded to Hold from Underperform at Jefferies... HMS Holdings (HMSY) upgraded to Overweight from Equal Weight at First Analysis... HP (HPQ) upgraded to Buy from Neutral at Monness Crespi... Halcon Resources (HK) upgraded to Buy from Hold at MLV & Co.... KapStone (KS) upgraded to Buy from Hold at Deutsche Bank... Sportsman's Warehouse (SPWH) upgraded at RW Baird... Westlake Chemical (WLK) upgraded to Neutral from Reduce at SunTrust... WisdomTree (WETF) upgraded to Neutral from Sell at Citigroup... Zimmer (ZMH) upgraded to Outperform from Market Perform at William Blair.
09:56 EDTDGDollar General upgraded to Outperform from Neutral at Credit Suisse
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09:47 EDTDGDollar General upgraded to Buy from Hold at Deutsche Bank
Price target is $69.
09:35 EDTDGActive equity options trading on open
Active equity options trading on open according to Track Data: AAPL AMZN DG TSLA GILD FB ABX WFC C
09:23 EDTDGDollar General upgraded to Buy from Neutral at Sterne Agee
09:03 EDTDGOn The Fly: Pre-market Movers
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08:47 EDTDGDollar General says would slow store opening growth in Family Dollar deal
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08:35 EDTDGDollar General says emphasis is getting deal 'put to bed'
Says when deal gets done, "Family Dollar (FDO) will look exactly like Dollar General inside." Says is a "huge fan" of Todd Vasos, who would lead the integration, but does not comment on whether Vasos will succeed Dollar General (DG) CEO Rick Dreiling, who will retire in May 2016. Doesn't see antitrust issues as "insurmountable."
08:23 EDTDGDollar General says has expressed interest in Family Dollar 'multiple times'
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08:18 EDTDGDollar General says can mange Family Dollar 'more efficiently and effectively'
Dollar General (DG) says it believes its proposal "far superior" for Family Dollar (FDO) shareholders. Believes company can manage Family Dollar "more efficiently and effectively." Sees approximately $300M-$400M in one-time costs to capture synergies. Sees investment of $400M in CapEx. Says proposed deal would be low double digit percentage accretive in year one, ex-integration and transformation costs. Dollar General notes commitment to return to investment grade credit profile, anticipated three years post closing. Says positioned for long term revenue and earnings growth. Says ready to move to complete due diligence on Family Dollar deal. Says synergies expected to ramp up throughout three-year period. Comments made on Dollar General's conference call discussing its acquisition proposal of Family Dollar for $78.50 per share.
06:27 EDTDGDollar General to host conference call
Conference call to discuss acquisition proposal of Family Dollar will be held on August 18 at 8 am. Webcast Link
06:24 EDTDGOptions expected to be active
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06:13 EDTDGDollar General makes proposal to acquire Family Dollar for $78.50 per share
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06:10 EDTDGDollar General makes proposal to acquire Family Dollar for $78.50 per share
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06:03 EDTDGDollar General makes $78.50/share offer for Family Dollar, CNBC reports
Dollar General (DG) will announce today a $78.50 per share in cash offer to acquire Family Dollar (FDO), CNBC's Andrew Ross Sorkin reports. Dollar Tree (DLTR) is seeking to buy Family Dollar for $74.50 per share.
06:00 EDTDGDollar General offers to buy Family Dollar for $78.50/share, CNBC reports
August 15, 2014
10:41 EDTMNKDOptions with decreasing implied volatility
Options with decreasing implied volatility: ARWR ICPT UVXY MNKD KING VIX SVXY VXX RAX OPK
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