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Stock Market & Financial Investment News

News Breaks
June 16, 2014
10:32 EDTTLM, COV, NXST, DWA, CNP, FIO, CBSO, FCN, AAVHigh option volume stocks
High option volume stocks: NXST AAV JNK FIO COV FCN CNP TLM CBSO DWA
News For NXST;AAV;FIO;COV;FCN;CNP;TLM;CBSO;DWA From The Last 14 Days
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February 1, 2016
06:27 EDTDWAKung Fu Panda 3 slightly missed expectations, says Piper Jaffray
Piper Jaffray analyst James Marsh says the $41M opening weekend for DreamWorks Animation's Kung Fu Panda 3 slightly underperformed his expectation of $45-$50M. The film, however, grossed an "impressive" $58M in China, Marsh tells investors in a research note. He remains a buyer of DreamWorks shares with an Overweight rating.
January 31, 2016
18:07 EDTDWA'Kung Fu Panda 3' swings to first, 'Finest Hours' lands in choppy waters
"Kung Fu Panda 3" topped the box office in its U.S. debut while nautical disaster drama "The Finest Hours" floundered. WEEKEND LEADER: "Kung Fu Panda 3," produced by DreamWorks (DWA) and distributed by Fox (FOX, FOXA), grossed $41M against expectations for $35M-$50M in its domestic debut during the weekend of January 31. The computer-animated action comedy, featuring the voices of Jack Black, Dustin Hoffman and Angelina Jolie, set a new box office record for January animated film openings but fell somewhat short of the $60.2M and $47.7M debuts seen by previous films in the franchise. BOX OFFICE RUNNERS-UP: "The Revenant," also from Fox, grossed $12.4M. Disney's (DIS) "Star Wars: The Force Awakens" took in an additional $10.8M and stands at $1.98B globally, while the company's "The Finest Hours" earned $10.3M in its domestic start despite an estimated $70M-$80M budget. Rounding out the top five was Universal's (CMCSA, CMCSK) "Ride Along 2" with $8.3M.
14:54 EDTNXSTNexstar 'remains eager' to reach agreement after Cox drops programming
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January 29, 2016
12:53 EDTDWABox Office Battle: 'Kung Fu Panda 3' expected to kick 'Revenant' from top spot
DreamWorks Animation's (DWA) "Kung Fu Panda 3" featuring Jack Black is expected to break the record for the largest January opening for an animated feature, topping the opening of "The Nut Job" in 2014. The first two films in the "Kung Fu Panda" franchise took in $60.2M and $47.6M, respectively, in their opening weekends and grossed a total of nearly $1.3B worldwide. With a strong base of Po the Panda fans and the popularity of a recent TV show, conservative early estimates say "Panda 3" is expected to bring in $35M-$50M. Also opening this weekend are Disney's (DIS) "The Finest Hours," starring Chris Pine, and Open Road Films' "Fifty Shades of Black," starring Marlon Wayans. "The Finest Hours" may disappoint, with expectations topping out at $10M in its opening weekend. "Fifty Shades of Black," meanwhile, is the latest spoof movie from the team of Wayans and Michael Tiddes from "Haunted House" fame. The last film from Wayans had an opening weekend of $8.8M, and this one is currently expected to take in a similar amount. Both films will battle with Fox's (FOX, FOXA) survival story and Oscar contender "The Revenant," starring Leonardo Dicaprio, and Disney's (DIS) "Star Wars: The Force Awakens" for spots in the top five. "The Revenant" and "Star Wars" should each take in $9M-$12M even as they continue to lose theaters this coming weekend. Other publicly traded companies involved in filmmaking include Lionsgate (LGF), Comcast (CMCSA, CMCSK), and Sony (SNE).
06:57 EDTCNPCenterPoint Energy agrees to acquire retail energy business of Continuum Energy
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06:55 EDTCNPCenterPoint Energy enters into agreement to invest $363M in Enable Midstream
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January 28, 2016
17:20 EDTNXSTNexstar comments on Cox making 'mischaracterizations'
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10:35 EDTNXSTCox Communications: Nextar, Media General merger 'not in the public interest'
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January 27, 2016
12:11 EDTDWAOn The Fly: Top stock stories at midday
Stocks began the session in negative territory and proceed to lose additional ground after the open. Despite another disappointing weekly Department of Energy inventory report, which pointed to larger than expected builds of both oil and gas stockpiles, the price of crude moved higher in later morning trading, taking equities up with it. Fed watchers have zero expectation that the central bank will announce an interest rate hike later today, but are hoping for a dovish policy statement to be issued in conjunction with the end of the latest FOMC meeting. ECONOMIC EVENTS: In the U.S., new home sales surged 10.8% to a 544,000 annualized pace in December, topping expectations and hitting their highest level in 10 months. The FOMC rate decision is due out at 2 pm ET and 100% of 104 analysts surveyed by Bloomberg were aligned in predicting no change to benchmark U.S. interest rates will be announced today. While their is no chance seen that the central bank will raise rates, the language in the statement will be closely examined for any clues on the Fed's thinking about when the next rate may be coming. COMPANY NEWS: Shares of Apple (AAPL) declined about 5% after the tech giant reported first quarter earnings that topped consensus estimates last night, but also issued revenue guidance for the new quarter that missed expectation. The company was noted by several analysts as having a particularly downbeat tone in its earnings conference call, invoking the difficult macroeconomic environment and weakness it has recently seen in China... Apple was not the worst performer in the Dow, however, as that distinction goes to Boeing (BA). Shares of the commercial airplane maker and defense contractor plummeted 7% after its profit outlook for the new fiscal year fell far short of the Street's consensus forecast. Conversely, United Technologies (UTX), which is also in the Dow and also involved in aerospace and defense, gained 2% after backing its adjusted earnings outlook for fiscal 2016. MAJOR MOVERS: Among the notable gainers was SunEdison (SUNE), which rallied 12% after the company and David Einhorn's Greenlight Capital agreed to new corporate governance initiatives, including appointing Claire Gogel to its board and amending its bylaws to provide that it will not make equity issuances for two years without supermajority vote of the board. Also higher were Commvault (CVLT), Hess (HES) and Biogen (BIIB), which gained 13%, 10% and 8%, respectively, after reporting quarterly earnings. Among the noteworthy losers was DreamWorks Animations (DWA), which fell 4.5% after the stock was downgraded to Sell at Topeka. Also lower were U.S. Steel (X), VMware (VMW), and Textron (TXT), which were down 12%, 8.5%, and 8%, respectively, after reporting quarterly earnings. INDEXES: Near midday, the Dow was up 37.60, or 0.23%, to 16,204.83, the Nasdaq was down 9.88, or 0.22%, to 4,557.79, and the S&P 500 was up 9.54, or 0.5%, to 1,913.17.
11:27 EDTDWAOptions with increasing call volume
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10:00 EDTDWAOn The Fly: Analyst Downgrade Summary
Today's noteworthy downgrades include: BG Group (BRGYY) downgraded to Neutral from Outperform at Credit Suisse... Bed Bath & Beyond (BBBY) downgraded to Sell from Neutral at Citi... Bill Barrett (BBG) downgraded to Neutral from Buy at Ladenburg... Brown & Brown (BRO) downgraded to Underweight at Morgan Stanley... Buffalo Wild Wings (BWLD) downgraded to Neutral from Buy at BTIG... Canadian National (CNI) downgraded to Market Perform from Outperform at Raymond James... DreamWorks (DWA) downgraded to Sell from Hold at Topeka... FirstMerit (FMER) downgraded at RBC Capital... Gentex (GNTX) downgraded to Neutral from Outperform at Baird... Haverty Furniture (HVT) downgraded to Sector Weight from Overweight at KeyBanc... Hercules Technology (HTGC) downgraded to Neutral from Buy at Compass Point... Horizon Technology (HRZN) downgraded to Market Perform from Outperform at Raymond James... Installed Building downgraded to Sector Weight from Overweight at KeyBanc... Jarden (JAH) downgraded to Neutral from Buy at Citi... K+S (KPLUF) downgraded to Sell from Hold at Berenberg... La-Z-Boy (LZB) downgraded at BB&T... Legacy Reserves (LGCY) downgraded to Market Perform from Outperform at FBR Capital... Medivation (MDVN) downgraded to Hold from Buy at Canaccord... Merck (MRK) downgraded to Neutral from Buy at BofA/Merrill... Metaldyne Performance (MPG) downgraded to Neutral from Outperform at Baird... Pier 1 Imports (PIR) downgraded to Sector Weight from Overweight at KeyBanc... Priceline (PCLN) downgraded to Neutral from Buy at Goldman... Profire Energy (PFIE) downgraded to Neutral from Buy at Chardan... Regeneron (REGN) downgraded to Hold at Canaccord... Starwood (HOT) downgraded to Underperform from Outperform at CLSA... Swiss Re (SSREY) downgraded to Equal Weight from Overweight at Morgan Stanley... TSYS (TSS) downgraded to Equal-Weight from Overweight at First Analysis... Talmer Bancorp (TLMR) downgraded to Sector Perform from Outperform at RBC Capital... TopBuild (BLD) downgraded to Sector Weight from Overweight at KeyBanc... TripAdvisor (TRIP) downgraded to Sell from Neutral at Goldman... VMware (VMW) downgraded to Hold from Buy at Summit Research... W.R. Grace (GRA) downgraded to Buy from Conviction Buy at Goldman... WEC Energy (WEC) downgraded to Neutral from Conviction Buy at Goldman... Welltower (HCN) downgraded to Underperform from Market Perform at BMO Capital... Yamana Gold (AUY) downgraded to Neutral from Overweight at JPMorgan.
09:43 EDTNXSTNexstar & Media General to host joint conference call
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08:48 EDTNXSTMeredith and Media General agree to terminate merger agreement
Meredith Corporation (MDP) and Media General (MEG) said they have agreed to terminate immediately the binding merger agreement they entered into on September 8, 2015. In exchange for terminating the merger agreement, Meredith will receive: $60M in cash payable immediately, and an opportunity to negotiate for the purchase of certain broadcast and digital assets currently owned by Media General. There is no assurance that Media General and Meredith will reach agreement with respect to a purchase of any broadcast and digital assets, any such transaction being subject to approval of Nexstar Broadcasting (NXST) under Media General's merger agreement with Nexstar. Meredith Chairman and CEO Stephen Lacy commented, "While we still believe in the strategic and financial benefits a merger with Media General would have created, we are pleased with the financial benefits of the termination agreement and the shareholder value created." Media General CEO Vincent Saduskey said, "We are pleased to have this matter behind us and look forward to working towards completion of our transaction with Nexstar, which we believe is in the best interest of Media General and delivers superior value to our shareholders."
08:48 EDTNXSTNexstar enters into definitive agreement to acquire Media General for $4.6B
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08:46 EDTNXSTNexstar to acquire Media General for $4.6B
07:07 EDTDWADreamWorks downgraded to Sell from Hold at Topeka
Topeka analyst David Miller downgraded DreamWorks to Sell citing valuation and maintained his $19 price target on shares. The analyst believes shares already reflect Kung Fu Panda 3 expectations and recommends shareholders trim positions.
January 26, 2016
11:50 EDTNXSTMeredith near deal to end Media General pact, allow Nexstar deal, Bloomberg says
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11:22 EDTNXSTMeredith close to allowing Media General, Nexstar deal, Bloomberg reports
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January 25, 2016
19:35 EDTNXSTNexstar nearing $2.3B deal for Media General, NY Post says
Nexstar (NXST) is preparing to sign within days a $2.3B agreement to acquire Media General (MEG), reports the New York Post, citing sources. Following its announcement, the deal is expected to be placed on hold because Media General has already agreed to a merger with Meredith (MDP), but Media hopes the deal will pressure Meredith to settle the termination fee related to the agreement, sources told the publication. Reference Link
07:03 EDTNXSTNexstar says Cox subscribers in nine markets may lose programming January 29
Nexstar Broadcasting Group announced that Cox Communications subscribers in nine markets are at risk of losing network and local community programming at 11:59 p.m. local time on January 29, 2016 as Cox has yet to reach a new distribution agreement allowing the cable television provider the right to continue to air Nexstar's highly rated programming. For over five months, Nexstar has been negotiating in good faith to establish a mutually agreeable contract with Cox. Nexstar has established a long-term record of completing hundreds of agreements with cable and satellite providers for the carriage of its programming and is proud it has had no material service interruptions related to distribution agreements since 2005. Nexstar will continue negotiating with Cox to try and reach a fair agreement to allow viewers to continue receiving its programming on an uninterrupted basis. Nexstar is committed to consistently elevating the level of service provided to local communities in the markets it serves across the United States by making meaningful capital investments to expand local news, lifestyle, sports, weather and other programming and enhancing station infrastructure, production resources and technologies. Nexstar regrets that Cox Communications is willing to hold its paying subscribers hostage because it won't agree to fair and reasonable terms for viewers' favorite network, local news and community-focused programming, as well as other critical information and emergency service updates we provide that is relevant to local community viewers. Nexstar remains hopeful that a resolution can be reached before the January 29 deadline, but should Cox fail to come to terms with Nexstar, Nexstar intends to actively educate consumers in affected markets on how they can continue to receive their favorite network programming, in-depth local news, other content and programming relevant to their communities, and critical updates in times of emergencies.
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