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Stock Market & Financial Investment News

News Breaks
March 24, 2014
09:14 EDTNUS, HLF, LGF, NTAP, SSYS, YELP, ICLD, SOLOn The Fly: Pre-market Mover
HIGHER: Herbalife (HLF), up 7% after agreeing to nominate three additional Icahn designees to board... Nu Skin (NUS), up 33% after the company's China business is penalized only $524K for direct sales of certain products... Lionsgate (LGF), up 6.6% after "Divergent" tops box office with $56M domestic opening weekend... Renesola (SOL), up 10% after earnings report... Stratasys (SSYS), up 3% after upgraded at JPMorgan... Yelp (YELP), up 3.3% following upgrade at JMP Securities... Intercloud Systems (ICLD), up 9% after agreeing to acquire VaultLogix. LOWER: NetApp (NTAP), down 3% after shares downgraded to Underweight at Morgan Stanley.
News For NUS;HLF;LGF;NTAP;SSYS;YELP;ICLD;SOL From The Last 14 Days
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October 20, 2014
11:00 EDTHLFHerbalife volatility increases
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08:48 EDTHLFHerbalife initiated with a Buy at Pivotal Research
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08:30 EDTNUSNu Skin initiated with a Buy at Pivotal Research
Target $75.
07:13 EDTYELPYelp October weekly volatility elevated into Q3 and outlook
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05:54 EDTHLFStocks with implied volatility movement; HLD SD
Stocks with implied volatility movement; Herbalife (HLF) 109, SandRidge Energy (SD) 97 according to iVolatility.
October 16, 2014
09:30 EDTSSYSStratasys upgraded to Overweight from Equal Weight at Stephens
07:46 EDTICLDIntercloud Systems appoints Timothy Larkin as CFO
InterCloud (ICLD) announced that it has hired Timothy A. Larkin as its new CFO. Prior to joining InterCloud Systems, Larkin served as CFO of Warren Resources (WRES).
07:22 EDTICLDRedChip Companies to hold a virtual conference
Global Online CEO Conference is being held on October 15-16 with webcasted presentations to begin on October 16 at 10 am. Webcast Link
October 15, 2014
16:37 EDTNUSOn The Fly: Closing Wrap
The market opened sharply lower amid sliding oil prices, worse than expected economic data, and the potential for a major M&A deal to fall apart due to tax inversion rule changes. The Dow fell more than 350 points within the first 30 minutes of trading, but then bounced back to move above its opening level. The volatility did not end there, however, as the market swung several more times during the session. The S&P 500's drop wiped out its gains for the year at one point, but a late day rally significantly cut the losses for the major averages. ECONOMIC EVENTS: In the U.S., retail sales, which were expected to be down 0.1% in September, actually fell 0.3% in the month and slipped 0.2% excluding autos. The Producer Price Index for final demand decreased a seasonally adjusted 0.1% in September from the prior month, marking the first decline in the measure in over a year. The core PPI reading, which excludes food and energy, was unchanged, versus expectations for a 0.1% rise. New York's Empire State manufacturing index fell 21.4 points to 6.2 in October, severely missing the expectation for a narrower pullback to a reading of 20. Business inventories rose 0.2% in August, versus expectations for an increase of 0.4%. In China, the consumer price index climbed 1.6% in September from a year earlier, which was below the consensus projection for 1.7% inflation and down from 2% inflation in August. China's PPI plunged 1.8% year-over-year in September, which was more than the 1.6% slide expected and an acceleration of the 1.2% year-on-year decline in August. COMPANY NEWS: Shares of Shire (SHPG) plunged $74.08, or 30.29%, to $170.49 after AbbVie's (ABBV) board last night stated that it was reconsidering its recommendation that the company's shareholders back a takeover of Irish drugmaker in light of the potential impact of tax rule changes on the deal. During the day, Bloomberg reported that people familiar with the matter say AbbVie is close to abandoning its $51B takeover bid, while Shire announced that it has agreed to waive the requirement for three business days' notice for AbbVie's board to meet to consider its offer. In contrast, AbbVie ended the session up 50c, or 0.92%, at $54.63... Wal-Mart (WMT) held its annual meeting, during which it lowered its fiscal year 2015 net sales growth forecast to 2%-3%, citing a tougher sales environment than it anticipated a year ago. The company indicated in February that it expected net sales growth to be at the low end of its guidance provided last October of 3%-5%. The world's largest retailer also cut its planned retail square foot growth expectations, due to a moderation of large format store growth and accelerated e-commerce investments. Following the outlook revisions, Wal-Mart closed down $2.78, or 3.57%, to $75.20. MAJOR MOVERS: Among the notable gainers was Penford Corporation (PENX), which jumped $7.60, or 69.15%, to $18.59 after the company agreed to be acquired by Ingredion (INGR) for $340M, or $19.00 in cash per share. Also higher was Southwestern Energy (SWN), which rose $2.59, or 7.82%, to $35.69 after it was among a number of oil and gas exploration and production names upgraded by analysts at Bank of America Merrill Lynch. Among the noteworthy losers was Nu Skin (NUS), which dropped $4.47, or 9.13%, to $44.50 after the company disclosed new debt arrangements that come with certain restrictions, including restrictions on the payment of dividends. Also lower were shares of Covidien (COV), which fell $6.50, or 7.04%, to $85.86 in the wake of the news for Shire and AbbVie, which investors may have read as jeopardizing Covidien's deal to be bought by Medtronic (MDT). Note that on October 3 Medtronic announced that it intends to use approximately $16B in external financing to complete the acquisition of Covidien and said the strategic benefits of the transaction "remain compelling" despite the additional expense of the new financing. INDEXES: The Dow dropped 173.45, or 1.06%, to 16,141.74, the Nasdaq slipped 11.85, or 0.28%, to 4,215.32, and the S&P 500 fell 15.21, or 0.81%, to 1,862.49.
11:27 EDTNUSNu Skin falls after announcing debt deal, related restrictions
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11:23 EDTNUSNu Skin not restricted from making dividend payments, says Deutsche Bank
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11:11 EDTNUSNu Skin shares defended at Deutsche Bank
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07:32 EDTSSYSUBM Canon to hold a conference
PLASTEC Midwest Conference is being held in Chicago on October 15-16.
October 14, 2014
14:04 EDTICLDIntercloud Systems to host business news update conference call
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October 13, 2014
09:01 EDTHLFHerbalife moving distributor websites to central control, NY Post reports
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07:38 EDTYELPSalesforce to hold a conference
Dreamforce 2014 is being held in San Francisco on October 13-16.
October 10, 2014
12:11 EDTHLFOptions with increasing implied volatility
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11:27 EDTNUSPrescott General Patrners reports 4.3% passive stake in Nu Skin
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10:55 EDTHLFHerbalife volatility increases
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10:01 EDTNTAP, YELPOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: 2U (TWOU) initiated with an Outperform at Pacific Crest... Bloomin' Brands (BLMN) initiated with an Outperform at BMO Capital... Brinker (EAT) initiated with a Market Perform at BMO Capital... Buffalo Wild Wings (BWLD) initiated with an Outperform at BMO Capital... Chipotle (CMG) initiated with a Market Perform at BMO Capital... Chuy's (CHUY) initiated with a Market Perform at BMO Capital... Darden (DRI) initiated with a Market Perform at BMO Capital... EMC (EMC) initiated with a Buy at Jefferies... EPR Properties (EPR) initiated with a Buy at BofA/Merrill... HP (HPQ) initiated with a Hold at Jefferies... IBM (IBM) initiated with an Underperform at Jefferies... McDermott (MDR) initiated with an In-Line at Imperial Capital... NetApp (NTAP) initiated with a Hold at Jefferies... New Residential (NRZ) initiated with a Neutral at Piper Jaffray... Nimble Storage (NMBL) initiated with a Buy at Jefferies... Noodles & Company (NDLS) initiated with an Outperform at BMO Capital... PDC Energy (PDCE) initiated with an Overweight at Stephens... Panera Bread (PNRA) initiated with a Market Perform at BMO Capital... Pioneer Natural (PXD) initiated with an Outperform at Imperial Capital... Resource America (REXI) initiated with a Buy at MLV & Co.... Rex Energy (REXX) initiated with an Overweight at Stephens... Seagate (STX) initiated with a Buy at Jefferies... Silicon Motion (SIMO) initiated with a Buy at Brean Capital... Texas Roadhouse (TXRH) initiated with a Market Perform at BMO Capital... W.P. Carey (WPC) initiated with a Neutral at BofA/Merrill... Wayfair (W) initiated with a Buy at Janney Capital...Western Digital (WDC) initiated with a Buy at Jefferies... Yelp (YELP) initiated with a Buy at Sterne Agee.
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