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Stock Market & Financial Investment News

News Breaks
September 3, 2013
12:51 EDTTU, CYTK, LF, NOK, MSFT, VZ, VOD, JAH, ALUOn 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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September 21, 2014
12:31 EDTMSFTMicrosoft delays China launch of its Xbox One console, Reuters says
Microsoft announced that it has delayed the launch of its Xbox One game console in China, says Reuters. Microsoft, which has recently faced setbacks in China related to anti-trust probe involving its Windows operating system and Microsoft Office, said that it will launch the Xbox One game console in China by the end of the year, added Reuters. Reference Link
September 20, 2014
22:05 EDTJAHClorox turned down offer to sell or merge with rival, NY Post says
In the last three to six months consumer packaged-goods company Clorox (CLX) turned down an offer from a rival interested in a sale or merger, says the NY Post, citing sources. The NY Post added that logical suitors for Clorox include Church & Dwight (CHD), Procter & Gamble (PG), Jarden (JAH) and Unilever (UN,UL). Reference Link
September 19, 2014
12:37 EDTVODVodafone buys 140 Phones4u stores, hires former employees, TheNextWeb says
Vodafone has bought 140 stores left behind by UK mobile phone retailer Phones4u and expects to hire 900 former Phones4U employees, reports TheNextWeb. The company said in a statement, that it will start engaging with these employees and begin rebranding the stores as soon as possible. Reference Link
11:51 EDTMSFTMicrosoft, Intel look to partner with Chinese mobile device makers, Nikkei says
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11:34 EDTMSFTRed Hat falls after Q3 outlook trails consensus
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10:48 EDTMSFTOracle tumbles after Q1 earnings miss estimates, Ellison steps aside as CEO
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08:53 EDTMSFTMicrosoft CEO to visit China, China Daily says
Microsoft CEO Satya Nadella is set to visit Beijing next week, according to China Daily. Nadella's visit comes as China conducts an anti-trust probe of the tech giant. The CEO is likely to visit high-ranking Chinese officials during his time in the country ,the newspaper added. Reference Link
07:23 EDTNOKFCC to hold a roundtable
Open Internet Roundtable: Technological Aspects will consider the technical aspects of ensuring an Open Internet, including questions of scope, transparency, blocking, mobile networks, and reasonable network management and is being held at FCC Washington, D.C. offices on September 19 at 1:30 pm. Webcast Link
06:33 EDTTUTELUS announces iPhone 6, iPhone 6 Plus available in stores
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September 18, 2014
12:44 EDTMSFTMicrosoft laying off 2,100 employees today, company tells CNBC
12:37 EDTMSFTMicrosoft lays off 2,100 employees, Seattle Times reports
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10:00 EDTJAHOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Abengoa Yield (ABY) initiated with a Neutral at Macquarie... Acacia Research (ACTG) initiated with an Outperform at Northland... Alibaba (BABA) initiated with a Buy at CRT Capital... Allianz (AZSEY) initiated with a Buy at UBS... Boulder Brands (BDBD) initiated with a Neutral at Piper Jaffray... Brookfield Renewable (BEP) initiated with an Outperform at Macquarie... Cogent (CCOI) initiated with an Overweight at JPMorgan... Discovery (DISCA) initiated with a Buy at Argus... FCB Financial (FCB) initiated with a Market Perform at Keefe Bruyette... Five Oaks (OAKS) initiated with a Buy at Ladenburg... Furmanite (FRM) initiated with a Buy at Sidoti... Fusion Telecommunications (FSNN) initiated with a Buy at H.C. Wainwright... Helen of Troy (HELE) initiated with an Overweight at Piper Jaffray... ICON plc (ICLR) initiated with a Buy at KeyBanc... InterOil (IOC) initiated with an Outperform at Credit Suisse... Jarden (JAH) initiated with an Overweight at Piper Jaffray... Level 3 (LVLT) initiated with an Overweight at JPMorgan... Lombard Medical (EVAR) initiated with a Buy at BTIG... NRG Yield (NYLD) initiated with an Outperform at Macquarie... Newell Rubbermaid (NWL) initiated with a Neutral at Piper Jaffray... NextEra Energy Partners (NEP) initiated with an Outperform at Macquarie... Novatel Wireless (NVTL) initiated with a Buy at H.C. Wainwright... Parker-Hannifin (PH) initiated with a Hold at Deutsche Bank... Pattern Energy (PEGI) initiated with a Neutral at Macquarie... Rentrak (RENT) initiated with a Buy at Wunderlich... Rhino Resources (RNO) initiated with a Buy at Ladenburg... Ryerson (RYI) initiated with a Buy at KeyBanc... SFX Entertainment (SFXE) initiated with a Buy at Maxim... SoftBank (SFTBY) initiated with a Buy at Jefferies... Sprouts Farmers Markets (SFM) initiated with a Neutral at Piper Jaffray... TerraForm Power (TERP) initiated with an Outperform at Macquarie... Vince Holding (VNCE) initiated with a Buy at B. Riley... WhiteWave Foods (WWAV) initiated with an Overweight at Piper Jaffray.
05:34 EDTMSFTInfosys expands partnership with Microsoft
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September 17, 2014
16:22 EDTJAHJarden initiated with an Overweight at Piper Jaffray
Target $75.
12:31 EDTJAHJarden management to meet with Jefferies
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11:42 EDTVZVerizon says company-wide growth at moment is 'fine'
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11:39 EDTVZVerizon says tower sales options more favorable in current market
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07:35 EDTLFImperial Capital to hold a conference
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07:27 EDTVODJazztel investor won't sell stake to Orange for proposed price, Reuters says
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06:39 EDTMSFTMicrosoft planning new wave of layoffs for this week, ZDNet reports
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