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Stock Market & Financial Investment News

News For NTLS;S From The Last 14 Days
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August 19, 2014
12:42 EDTSOn The Fly: Midday Wrap
The market opened higher as it extended its gains from yesterday. Better than expected economic data on housing and consumer prices, as well as easing geopolitical tensions, has helped aid investor optimism. The market drifted higher throughout the morning with the Dow leading the way, followed by the Nasdaq, which is now near fourteen-year highs. The S&P is mostly higher, with the telecom services group being the lone sector showing losses, down just fractionally. ECONOMIC EVENTS: Housing starts for July rose to an annualized pace of 1.093M units, up from 0.945M units in June, and beating expectations for 0.963M units... The Consumer Price Index increased 0.1% overall, matching expectations. Less food and energy, the CPI was up 0.1%, which was also in-line with the consensus forecast. COMPANY NEWS: Shares of home improvement retailer The Home Depot (HD) are up more than 6% after the company posted better than expected second quarter results and raised its full year profit outlook... Shares of Sprint (S) are down 4% after Jefferies lowered its price target for Sprint shares to $4, saying it continues to see downside to estimates. MAJOR MOVERS: Shares of Skilled Healthcare (SKH) are up more than 20% after combining with Genesis HealthCare In 100% stock deal... Shares of cosmetics and fragrance company Elizabeth Arden (RDEN) are down 24% after the company's fourth quarter results came in well below analysts' consensus estimates. INDEXES: Near midday, the Dow was up 76.92, or 0.46%, to 16,915.66, the Nasdaq was up 12.96, or 0.29%, to 4,521.27, and the S&P 500 was up 8.49, or 0.43%, to 1,980.23.
07:39 EDTSSprint price target lowered to $4 from $7 at Jefferies
Jefferies lowered its price target for Sprint shares to $4 saying it continues to see downside to estimates. The firm expects a "muted response" to Sprint's new Family Pack pooled data plan and limited time promotion of waiving device access charges. It keeps an Underperform rating on the stock.
07:12 EDTSFCC looks into telecom special access line rates, Reuters says
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August 18, 2014
19:41 EDTSSprint CEO says regulators weren't set on industry consolidation, Bloomberg says
Sprint (S) recently dropped its bid seeking control of competitor T-Mobile (TMUS).
18:33 EDTSSprint introduces Sprint Family Share Pack data plan, doubles high-speed data
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18:04 EDTSSprint to offer $100/month 20GB shared data plan through 2015, Bloomberg reports
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11:06 EDTSSoftBank chooses Sharp as low-cost smartphone partner, WSJ reports
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08:47 EDTSRaymond James to hold a summit
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August 15, 2014
06:15 EDTSSprint's new CEO to introduce 'disruptive' prices next week, Re/code reports
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August 14, 2014
14:13 EDTSOmega Advisors gives quarterly update on stakes
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09:07 EDTSMorgan Stanley to hold a conference
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August 12, 2014
17:26 EDTSDish viewed as favored T-Mobile acquirer after Sprint drops bid, Bloomberg says
Dish Network (DISH) is viewed as a favorite to acquire T-Mobile (TMUS) after Sprint (S) dropped its plans to acquire the company last week, according to Bloomberg, citing analysts at Moody's Investors Service and Macquarie Group. Being an industry outsider, Dish wouldn't reduce the number of competitors in the wireless market, which would please regulators, Bloomberg added. Reference Link
August 11, 2014
18:05 EDTSSprint CEO to utilize price cuts to 'compete aggressively', Bloomberg reports
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06:01 EDTSStocks with implied volatility movement; S APC
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August 8, 2014
17:10 EDTSMarket finishes week up slightly as earnings offset by political events
Stocks finished the week fractionally higher than where they started as strong corporate earnings reports and better than expected economic data was weighed against concerns about geopolitical issues and negative M&A news. MACRO NEWS: A few ongoing geopolitical conflicts worried investors and weighed on shares. Russia unveiled sanctions against Western countries, banning the import of a wide range of food items from the U.S, the EU and a few allied countries in response to sanctions recently enacted against it from G7 nations... President Obama authorized the bombing of rebels in Iraq and Hamas and Israel failed to reach a permanent truce... An ISM services index, the U.S. trade deficit for June, and weekly jobless claims were all better than expected. Meanwhile, the increase in unit labor costs last quarter came in below the consensus outlook, perhaps easing fears that the Fed will need to raise interest rates sooner than expected. COMPANY NEWS: On the M&A front, two huge potential deals fell through as 21st Century Fox (FOX, FOXA) withdrew its offer to acquire Time Warner (TWX) and Sprint (S) reportedly decided to end its pursuit of a merger with peer T-Mobile (TMUS)... President Obama indicated that his administration would take unilateral steps in an effort to prevent companies from carrying out tax inversion acquisitions. Among the deals or possible transactions that involve inversion are Medtronic's (MDT) acquisition of Covidien (COV), Valeant's (VRX) proposed takeover of Allergan (AGN) and Mylan's (MYL) acquisition of Abbott's (ABT) developed markets branded generics pharmaceuticals business. Meanwhile, Walgreen's (WAG) stock tumbled after the U.S. company said it would not structure its takeover of European drugstore chain Alliance Boots as a tax inversion deal... 21st Century Fox, 3D printer maker Stratasys (SSYS), chip maker NVIDIA (NVDA), brewer Molson Coors (TAP), and luxury accessories maker Coach (COH) all rose following their earnings reports. Conversely, Target (TGT), luxury accessories maker Michael Kors (KORS) and Internet coupon provider Groupon (GRPN) fell following their results or guidance... Gannett (GCI) struck a deal to acquire the remaining 73% interest in Classified Ventures, whose primary asset is the online car shopping website Cars.com, for $1.8B from the other partners in the venture, which include McClatchy (MNI), Tribune Media (TRBAA), Graham Holdings (GHC) and A. H. Belo (AHC). Gannett also announced plans to spin-off its Publishing business, which includes USA Today, through a tax-free distribution to shareholders... McDonald's (MCD) stock was little changed after the company reported that its comparable store sales fell 2.5% in July, which was significantly worse than expected. Food quality issues weighed on the fast food company's sales in Asia and as a result of the China supplier issue, the company warned its previously issued global comparable sales forecast for 2014 is now at risk. INDEXES: The Dow finished the week up 0.35% to 16,553.93, the S&P 500 rose 0.32% to 1,931.59, and the Nasdaq gained 0.41% to 4,370.90.
11:32 EDTSSprint is preparing to engage in fierce pricing war, WSJ reports
Sprint (S) is preparing to engage in a fierce price competition on the heels of an almost complete network revamp, according to the Wall Street Journal, citing Masayoshi Son, the CEO of parent company Softbank (SFTBY). Sprint is currently testing new pricing plans, and will utilize its "street fighter" strategies to take on larger rivals Verizon (VZ) and AT&T (T). "Price competition will intensify. Sprint will soon be ready to join the fray," Son said. Reference Link
11:32 EDTSStocks with call strike movement; WETF S
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06:08 EDTST-Mobile plans to overtake Sprint in total customers by end of year, CEO says
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August 7, 2014
12:04 EDTSStocks with call strike movement; SUNE S
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07:59 EDTSDISH price target raised to $78 from $62 at Brean Capital
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06:28 EDTSDeutsche CEO asks for regulators help in spectrum auction, Reuters says
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06:17 EDTSSoftbank shifting focus to Sprint turnaround, WSJ reports
SoftBank's (SFTBF) decision to end its pursuit of T-Mobile US (TMUS) has shifted focus to how the company will turn around Sprint (S) without the deal as well as other potential investment targets, the Wall Street Journal reports. Reference Link
05:54 EDTSStocks with implied volatility movement; RAD S
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August 6, 2014
17:05 EDTSOn The Fly: Closing Wrap
Stocks on Wall Street were nearly unchanged following a session dominated by talk of big name deals that did not happen. The market moved lower in the early going but found a level in the second half hour of trading and began to drift off the bottom. The averages crossed into positive territory about an hour after the opening bell and then spent most of the afternoon drifting. ECONOMIC EVENTS: In the U.S., the trade deficit narrowed to $41.5B in June from a revised $44.7B in May. In Europe, Italian GDP unexpectedly contracted 0.2% in Q2, putting the country into a technical recession, while German manufacturing orders surprised with a 3.2% June drop. COMPANY NEWS: Time Warner (TWX) reported better than expected quarterly profits, but its stock fell $10.95, or 12.85%, to $74.24 after 21st Century Fox (FOXA, FOX) last night announced that it had withdrawn its takeover bid for the parent of HBO, Warner Bros. and other entertainment properties. Class A shares of 21st Century Fox advanced $1.03, or 3.29%, to $32.33 in the wake of the news and the company's announcement of a $6B share repurchase program... Wireless carriers Sprint (S) and T-Mobile (TMUS) both fell after multiple media outlets reported that the third largest mobile phone carrier in the U.S. has ended its pursuit of trying to combine with the fourth largest one. Sprint, which also replaced CEO Dan Hesse with Marcelo Claure, the founder and CEO of SoftBank (SFTBF) subsidiary Brightstar, declined $1.38, or 18.96%, to $5.90, while T-Mobile shares slid $2.85, or 8.4%, to $31.06. MAJOR MOVERS: Among the notable gainers was brewer Molson Coors (TAP), which rose $3.87, or 5.76%, to $71.08 after the company's second quarter profits topped expectations. Also higher following its earnings report was Enphase Energy (ENPH), which advanced $1.36, or 14.02%, to $11.06. Among the noteworthy losers was Walgreen (WAG), which dropped $9.91, or 14.34%, to $59.21 after the company exercised its option to acquire the remaining 55% of Alliance Boots that it does not already own but said its purchase of the rest of the U.K.'s Boots will not be a "tax inversion" deal, as many had been expecting. Also lower were shares of Groupon (GRPN), which fell 90c, or 12.72%, to $6.17 after the company reported first quarter revenue that missed expectations and it lowered its fiscal 2014 adjusted EBITDA outlook. INDEXES: The Dow added 13.87, or 0.08%, to 16,443.34, the Nasdaq rose 2.22, or 0.05%, to 4,355.05, and the S&P 500 barely budged, gaining 0.03 to 1,920.24.
13:26 EDTSDISH says odds for 'big' wireless deal getting done before auction 'not great'
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13:11 EDTSDISH Chairman Ergen says 'lot of things I like' about Sprint
Ergen says it might make sense for DISH (DISH) to make an attempt to acquire T-Mobile (TMUS) or to partner with Sprint (S). Ergen says he sees the wireless industry becoming even more competitive. Ergen continues to answer questions during DISH's earnings conference call.
13:09 EDTSSprint CEO change positive, says Wells Fargo
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12:17 EDTSDISH Chairman says 'nothing really has changed' in terms of strategy
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12:12 EDTSOn The Fly: Midday Wrap
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11:10 EDTSOptions with increasing implied volatility
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10:53 EDTSSprint, T-Mobile dive after merger talks reportedly end
Shares of wireless carriers Sprint (S) and T-Mobile (TMUS) are falling after multiple media outlets reported that Sprint has ended its pursuit of buying T-Mobile. Previous reports had suggested that Sprint was interested in acquiring its competitor. In the wake of the news, Wells Fargo remained upbeat on Sprint, while FBR Capital wrote that the deal could still occur. WHAT'S NEW: Sprint has ended its pursuit of T-Mobile due to opposition to the tie-up by regulators multiple news outlets reported last night, citing unnamed sources. Sprint also replaced CEO Dan Hesse with Marcelo Claure, the founder and CEO of SoftBank (SFTBF) subsidiary Brightstar, and Sprint Chairman Masayoshi Son said "While we continue to believe industry consolidation will enhance competitiveness and benefit customers, our focus moving forward will be on making Sprint the most successful carrier." ANALYST REACTION: In a note to investors today, Wells Fargo analyst Jennifer Fritzsche wrote that the news on Sprint should improve going forward, while the company should benefit from new spectrum it has acquired. History suggests that the best time to buy Sprint's stock is when it appears to be capitulating, added the analyst, who believes that the company is still well-positioned to pursue other strategic alternatives. However, Fritzsche thinks that some of T-Mobile's "likely and logical" partners may not be ready to make a deal in the near-term, while the company has "more questions than answers." The analyst kept an Outperform rating on Sprint and a Market Perform rating on T-Mobile. Meanwhile, FBR Capital analyst David Dixon wrote that he was not convinced that Sprint had abandoned its bid for T-Mobile. Rather, the companies are probably not prepared yet to make a deal that is likely to be approved by regulators, the analyst stated. The deal could be approved if the companies demonstrate that their combined network would improve the experience of users, and the companies are taking steps to meet this goal, according to Dixon, who kept a Market Perform rating on Sprint. WHAT'S NOTABLE: In the wake of the news that Sprint will apparently drop its pursuit of T-Mobile, French telecom company Iliad (ILIAF), which has made a bid for T-Mobile, sees no immediate need to boost its takeover offer, according to The Wall Street Journal. PRICE ACTION: In mid-morning trading, Sprint fell 17.9% to $5.98 and T-Mobile sank 6.1% to $31.85.
09:28 EDTSIliad continues with T-Mobile bid, won't boost for now, WSJ says
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09:13 EDTSOn The Fly: Pre-market Movers
HIGHER: Fox class A shares (FOXA), up 5.9% after withdrawing proposal to acquire Time Warner (TWX), announcing $6B share repurchase program, reporting quarterly results... MannKind (MNKD), up 1.6% after entering a supply agreement with Amphastar Pharmaceuticals (AMPH)... Criteo (CRTO), up 11.5% after upgraded at Goldman following its better than expected Q2 earnings report. LOWER: Time Warner (TWX), down 13% after earnings, maintaining guidance, bid dropped by Fox... Sprint (S), down 16.5% after naming Marcelo Claure as president and CEO, reportedly dropping pursuit of T-Mobile (TMUS). T-Mobile shares also down 8.5%... Groupon (GRPN), down 18%, downgraded at Wunderlich after the company reported lower than expected Q3 results... Walgreen (WAG), down 15.7% after exercises option to acquire remaining 55% of Alliance Boots, says it will not pursue inversion as part of deal... Shire (SHPG), down 6% after Walgreen announced it would stay located in Chicago and Bloomberg last night reported that the Treasury Department is exploring ways to bypass Congress in an attempt to curb corporate inversions... Cytori Therapeutics (CYTX), down 33% after announcing that it has placed enrollment in the ATHENA and ATHENA II trials on clinical hold. UP AFTER EARNINGS: Enphase Energy (ENPH), up 20%... AOL (AOL), up 5%. DOWN AFTER EARNINGS: Nu Skin (NUS), down 8.5%... Rocket Fuel (FUEL), down 27%... Cognizant (CTSH), down 13%... First Solar (FSLR), down 2.5%... Globus Medical (GMED), down 17%.
08:31 EDTSSprint names Marcelo Claure as president and CEO
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08:30 EDTSSprint names Marcelo Claure as president and CEO
08:22 EDTSSprint news to improve going forward, says Wells Fargo
After multiple news outlets reported that Sprint (S) would abandon its efforts to buyT-Mobile (TMUS), Wells Fargo thinks that the news on Sprint will improve as the company moves beyond many of its network challenges and begins to benefit from its 2.5 GHz spectrum. The firm believes that the company is well-positioned to seek other strategic alternatives and keeps an Outperform rating on the shares.
08:09 EDTSSoftbank seen as still interested in M&A after dropping T-Mobile plans, WSJ says
Despite the reports that Sprint (S) parent Softbank (SFTBF) is no longer pursuing a deal for T-Mobile (TMUS), some analysts said they doubted that the setback had killed the company's appetite for a big acquisition of a network operator, though they said the company might shift its focus from the U.S. to Europe, according to The Wall Street Journal. An analyst at SMBC Nikko said he thought Softbank might announce another deal shortly, but that rather than aiming to buy another mobile operator that it would try to build up its digital content portfolio, the report added. Reference Link
07:51 EDTST-Mobile volatility is expected to move on said to end talks to be purchased
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07:39 EDTSFBR not convinced Sprint will abandon T-Mobile bid
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07:30 EDTSSprint volatility expected to move on said to end talks to buy T-Mobile
Sprint (S) option implied volatility is expected to move on said to end talks to buy T-Mobile (TMUS). Overall option implied volatility of 49 is near its 26-week average of 50 according to Track Data, suggesting non-directional price movement.
06:03 EDTSSprint could name Marcelo Claure as new CEO, Reuters reports
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