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Stock Market & Financial Investment News

News Breaks
July 7, 2014
05:50 EDTNQ, PETMStocks with implied volatility movement; NQ PETM
Stocks with implied volatility movement; NQ Mobile (NQ) 191, PetSmart (PETM) 34 according to iVolatility.
News For NQ;PETM From The Last 14 Days
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December 18, 2014
10:49 EDTNQNQ Mobile up 9% in early trading ahead of earnings report tonight
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10:38 EDTNQNQ Mobile volatility increases into reporting Q1, Q2, Q3
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December 17, 2014
10:36 EDTPETMOptions with decreasing implied volatility
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December 15, 2014
16:45 EDTPETMJANA does not intend to nominate any individuals for PetSmart board
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16:36 EDTPETMOn The Fly: Closing Wrap
The Dow began the session with triple digit gains, but the move was short lived and so was the positive start for the equities market, which tumbled with oil prices and struggled for the remainder of the session. The day’s economic reports, which included the Empire Manufacturing report, industrial production and capacity utilization reports, and the NAHB housing market index, had little effect on the market. Stocks recovered a bit but did not get back into the green before the close, with investors wondering how the Fed, which begins its final FOMC meeting of the year tomorrow, will view its strategy in light of the recent weakness in oil. ECONOMIC EVENTS: In the U.S., the Empire State manufacturing index fell to -3.6 in December, which was significantly worse than the expectation for it to rise to 12.4 from its prior 10.2 reading. Industrial production jumped 1.3% in November, which was better than the expected 0.7% increase. The NAHB homebuilder sentiment index fell one point to 57 in December, versus expectations for a one point rise to a 59 reading. Near noon, WTI crude was down more than 2% and was trading below $57 per barrel. COMPANY NEWS: Riverbed Technology (RVBD) rose $1.57, or 8.38%, to $20.31 after the company agreed to be acquired by private equity investment firm Thoma Bravo and the private investor department of Ontario Teachers’ Pension Plan. Riverbed stockholders will receive $21 per share in cash, or a total of approximately $3.6B, which Wells Fargo views as a "good decision" and good deal for the company given the challenges in its business... PetSmart (PETM) advanced $3.30, or 4.25%, to $80.97 after the company agreed to be acquired by a consortium led by BC Partners at a price of $83.00 per share in cash. However, the private equity backers of Petco that were not allowed to participate in the auction process because of competition concerns, Leonard Green & Partners and TPG, could still make a rival offer, according to The Deal Pipeline, citing a source familiar with the situation. MAJOR MOVERS: Among the notable gainers was Sorrento Therapeutics (SRNE), which advanced $1.50, or 25.86%, to $7.30 after the company announced that it has entered into a binding agreement with NantWorks founder Dr. Patrick Soon-Shiong to establish a strategic collaboration to jointly develop next generation immunotherapies for the treatment of cancer and auto-immune diseases. Also higher was Cirrus Logic (CRUS), which rallied $4.12, or 21.87%, to $22.96 after Barclays upgraded the stock two notches to Overweight from Underweight and said the company is poised to make significantly more money per each iPhone sold next year. Among the noteworthy losers was CGG SA (CGG), which was downgraded to Underperform at Raymond James and dropped $2.41, or 28.29%, to $6.11 after Technip (TKPPY) said that it does not plan to file a tender for the company after talks between the companies did not result in a deal. Also lower were shares of Habit Restaurants (HABT), which fell $7.20, or 17.19%, to $34.69 as analysts rolled out coverage of the stock following its IPO about a month ago. Amid the coverage initiations, Habit Restaurants shares were initiated with a Neutral and $41 price target at RW Baird, with a Market Perform rating at Wells Fargo, with an Equal Weight at Stephens and with an Overweight rating and $48 target at Piper Jaffray. INDEXES: The Dow fell 99.99, or 0.58%, to 17,180.84, the Nasdaq dropped 48.44, or 1.04%, to 4,605.16, and the S&P 500 declined 12.70, or 0.63%, to 1,989.63.
12:37 EDTPETMOn The Fly: Midday Wrap
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11:59 EDTPETMRival bid for PetSmart still possible, The Deal says
PetSmart has agreed to be acquired by a BC Partners led consortium for $83 per share, though Leonard Green & Partners and TPG, the private equity backers of Petco that were not allowed to participate in the auction process because of competition concerns, could still make a rival offer, according to The Deal Pipeline, citing a source familiar with the situation. Reference Link
10:23 EDTPETMOptions with decreasing implied volatility
Options with decreasing implied volatility: LE CIEN LULU PETM RH ATHN ADBE
09:27 EDTPETMOn The Fly: Pre-market Movers
HIGHER: Opko Health (OPK), up 13.1% after Pfizer (PFE) and OPKO Health enter into global agreement for hGH-CTP... Cirrus Logic (CRUS), up 7.5% after being upgraded to Overweight from Underweight at Barclays... PetSmart (PETM), up 4.7% after being acquired by BC Partners led consortium for $83 per share... Sohu.com (SOHU), up 3% after being upgraded to Overweight from Neutral at JPMorgan... Oracle (ORCL), up 2.2% after receiving FedRAMP provisional authority to operate. LOWER: Unwired Planet (UPIP), down 25.7% after commenting on Google (GOOG) Markman ruling... EXCO Resources (XCO), down 13% after suspending its dividend.
09:21 EDTNQNQ Mobile volatility elevated into reporting Q1, Q2, Q3 results
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09:10 EDTNQNQ Mobile to report Q1, Q2, Q3 results on Dec. 18
07:40 EDTPETMPetSmart volatility up into acquisition by BC Partners consortium for $8.7B
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05:49 EDTPETMPetSmart unlikely to receive higher takeover bid, says RW Baird
RW Baird analyst Peter Benedict says PetSmart is unlikely to receive a higher takeover bid compared to the $83 per share that BC Partners is paying to take the company private. Benedict notes that PetSmart had been in a process of reviewing multiple bids before last night's merger announcement. He raised his price target for the stock to $83 from $78 and keeps a Neutral rating on the pet store owner.
December 14, 2014
17:31 EDTPETMPetSmart to be acquired by BC Partners led consortium for $83 per share
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15:23 EDTPETMApollo close to $8B leveraged buyout of PetSmart, Bloomberg says
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December 11, 2014
14:23 EDTNQChinese report casts doubt on NQ Mobile co-CEO departure, Muddy Waters says
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December 10, 2014
08:58 EDTNQNQ Mobile holder RPL agrees to additional two-year voluntary lock-up
NQ Mobile stated that, as a sign of confidence in the future of the company, RPL Limited, a substantial shareholder of NQ Mobile which is owned and controlled by the founders of NQ, has agreed to an additional two-year voluntary lock-up that will expire in December 2016. RPL is a limited liability company organized under the laws of the British Virgin Islands. As of October 15, , RPL held 50,352,941 Class B common shares, equivalent to approximately 10.07M ADSs, of NQ Mobile, representing approximately 11.3% of NQ Mobile's outstanding shares. RPL agreed it will not sell any of its shares until December 2016. In addition to the lock-up by RPL, the founders and NQ Mobile's senior management reiterate their intention to purchase additional shares in accordance with all applicable rules and regulations.
08:56 EDTNQNQ Mobile Co-CEO and Chairman Lin steps down
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08:37 EDTNQNQ Mobile Co-CEO and Chairman Lin steps down
December 8, 2014
06:21 EDTPETMDeadline for Petsmart bidders extended as lenders put on leash, NY Post reports
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