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Stock Market & Financial Investment News

News Breaks
September 3, 2013
12:51 EDTTU, LF, CYTK, VOD, NOK, ALU, VZ, JAH, MSFTOn The Fly: Midday Wrap
Investors came back to Wall Street following the long holiday weekend and bought stocks, sending the major averages higher on the first day of trading in September. The market, coming off its worst performing month of the year, reacted to the lack of military action by the U.S. in Syria as well as some better than expected economic data at home and abroad. ECONOMIC EVENTS: In the U.S., Markit's final PMI reading for August came in at 53.1, which missed the expectation for a 54.0 reading. The Institute for Supply Management's manufacturing PMI beat expectations with a rise to a 55.7 two-year high from 55.4 in July. Construction spending in July rose 0.6%, versus expectations for a 0.4% increase. In Europe, Markit's euro-zone manufacturing PMI rose to 51.4 in August from 50.3 in July. In Asia, China’s official PMI rose to 51.0 in August from 50.3 in July, while the HSBC/Markit manufacturing PMI rose to 50.1 from 47.7 in July. China's non-manufacturing PMI held relatively steady at 53.9, compared to 54.1 in the prior month. COMPANY NEWS: Two large merger and acquisition deals were announced as U.S. investors returned from Labor Day, including one that was largely expected and one that was quite unexpected. Verizon (VZ), as had been speculated last week, agreed to buy Vodafone's (VOD) 45% stake in their U.S. joint venture, Verizon Wireless, for $130B. Shares of both trading in New York fell following the announcement. Meanwhile, Microsoft (MSFT) agreed to buy Nokia’s (NOK) mobile phone business and license its patents for $7.2B. Following the deal, no less than five firms raised their rating on Nokia, which advanced about 30% near noon. Microsoft was the worst performing Dow component, falling over 6% after its purchase... In a smaller M&A deal that still involved a well-known brand, consumer products company Jarden (JAH) agreed to buy Yankee Candle Company for $1.75B. MAJOR MOVERS: Among the notable gainers was Alcatel-Lucent (ALU), which rose nearly 11% as some speculated it could be another M&A target following Nokia's deal. Also higher was Canadian wireless company Telus (TU), which rose more than 7% and was upgraded at BMO Capital after Verizon's large deal meant it will not be entering the Canadian wireless market for the time being. Among the noteworthy losers Cytokinetics (CYTK), which fell 23% after announcing a clinical trial of its drug omecamtiv did not hit its primary endpoint. Also lower were shares of educational toymaker LeapFrog (LF), which slid almost 5% after an analyst at BMO Capital Markets said the company's new LeapPad Ultra was disappointing and buggy during tests. INDEXES: Near noon, the Dow was up 11.28, or 0.08%, to 14,821.59; the Nasdaq was up 24.09, or 0.67%, to 3,613.96; and the S&P 500 was up 6.08, or 0.37%, to 1,639.05.
News For NOK;MSFT;VZ;VOD;JAH;ALU;TU;CYTK;LF From The Last 14 Days
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April 7, 2014
11:37 EDTLF, CYTKOptions with increasing implied volatility: CYTK NSR NOW ETFC LF
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10:10 EDTMSFTAnalyst sees 'golden' opportunity after software stocks decline
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09:34 EDTVZActive equity options trading on open
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09:00 EDTMSFTMicrosoft May volatility increases; shares near 14-year high into Q3
Microsoft April weekly call option implied volatility is at 29, April is at 23, May is at 25, July is at 21; compared to its 26-week average of 23 according to Track Data, suggesting large near term price movement into the expected release of Q3 results on April 24.
07:04 EDTVZCincinnati Bell to sell wireless spectrum licenses to Verizon Wireless
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06:41 EDTMSFTMicrosoft pushes for programming to rival Amazon, Netflix, Bloomberg says
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06:23 EDTNOKDelta Air Lines to equip flight attendants with Nokia Lumia 1520
Delta Air Lines (DAL) this fall will equip more than 20,000 flight attendants with handheld Nokia (NOK) Lumia 1520 phablets, which will serve as their on-board manual and in-flight sales device as well as a platform for future, more personalized in-flight customer service. The Lumia 1520 features a larger format, 6-inch screen and will replace the smaller Lumia 820 already in the hands of Delta on-board professionals.
06:18 EDTMSFTMicrosoft starts developing 4th-generation Surface, DigiTimes reports
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April 5, 2014
12:57 EDTVODVodafone has upside over 20%, Barron's says
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April 4, 2014
15:19 EDTJAHJarden management to meet with JPMorgan
Meeting to be held in Atlanta on April 9 hosted by JPMorgam.
11:21 EDTMSFTCourt reverses parts of lower court ruling in DataTern suit with Microsoft, SAP
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11:16 EDTCYTKOptions with decreasing implied volatility: MNKD GALT CYTK DLLR APOL
11:02 EDTVODSoftbank said to eye possible M&A opportunities in Europe, Forbes says
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10:02 EDTJAHOn The Fly: Analyst Initiation Summary
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10:02 EDTVODOn The Fly: Analyst Downgrade Summary
Antero Resources (AR) downgraded to Buy from Strong Buy at ISI Group... Cobalt (CIE) downgraded to Buy from Strong Buy at ISI Group... Franklin Resources (BEN) downgraded to Market Perform at Keefe Bruyette... Hasbro (HAS) downgraded to Hold from Buy at Needham... PPL Corp. (PPL) downgraded to Neutral from Outperform at Macquarie... Sonic (SONC) downgraded to Neutral from Buy at Buckingham... Vodafone (VOD) downgraded to Neutral from Buy at Nomura... AutoZone (AZO) downgraded to Neutral from Outperform at RW Baird... Advance Auto Parts (AAP) downgraded to Neutral from Outperform at RW Baird... LinnCo (LNCO) downgraded to Neutral from Buy at Citigroup... LINN Energy (LINE) downgraded to Neutral from Buy at Citigroup... General Mills (GIS) downgraded to Hold from Buy at Argus.
08:47 EDTVZLenovo, IBM deal investigated by U.S. over Pentagon servers, Bloomberg says
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07:43 EDTMSFTBaidu market leading search share in China rose in March, Marbridge Daily says
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07:28 EDTMSFTNew America Foundation to hold a forum
The New America Foundation holds a forum, "Implementing the PCAST Spectrum Sharing Report" with President Obama's Deputy CTO for Telecom Policy, Jason Furman, VP Medin of Google and Craig Mundie of Microsoft in Washington, D.C. on April 4 at 2 pm. Webcast Link
07:17 EDTJAHJarden initiated with an Outperform at Wells Fargo
Price target range $67-$69.
05:39 EDTVODVodafone downgraded to Neutral from Buy at Nomura
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