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October 3, 2013
04:55 EDTNYX, NYX, YHOO, YHOO, FDP, FDP, INTC, INTC, AET, AET, TDC, TDC, ACXM, ACXM, CNO, CNO, HBAN, HBAN, GTI, GTI, LNC, LNCCorporate Board Member to host a summit
10th Annual Boardroom Summit is being held in New York on October 3-4.
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November 19, 2015
11:32 EDTINTCIntel says Tabet business is not a growth business
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11:24 EDTINTCIntel targets FY15 revenue $55.2B, consensus $55.25B
Comments from Intel Investor Meeting.
10:58 EDTAETAnalysts say possible exchange exit positive for battered UnitedHealth
The shares of health insurer UnitedHealth (UNH) and a number of other companies in the sector are falling after the Dow member lowered its fiscal 2015 profit guidance, citing weakness in individual health insurance policies it markets through exchanges. WHAT'S NEW: UnitedHealth lowered its fiscal 2015 earnings per share guidance to $6 from $6.25-$6.35. Analysts' consensus estimate was $6.31. The company identified policies sold to individuals through exchanges as the culprit. UnitedHealth said it expects to lose 26c per share on these policies in 2015 and 2016. The insurer stated that its other businesses were performing in-line with expectations and showing strength. UnitedHealth said it has pulled back on its marketing efforts for individual exchange products in 2016 and indicated that it would consider offering fewer individual policies through exchanges in 2017. UnitedHealth provided fiscal 2016 EPS guidance of $7.10-$7.30, versus the consensus outlook of $7.28. ANALYST REACTION: Any weakness in UnitedHealth and other health insurers today on the news from UnitedHealth creates a strong buying opportunity, Leerink Swann analyst Ana Gupte wrote in a note to investors today. The government will either reform the exchanges to make them more profitable for the insurers or they will exit the market, Gupte predicted. Moreover, the downside risk for health insurers Aetna (AET), Anthem (ANTM), Humana (HUM), and Cigna (CI) from today's news are low, since their Q3 and 2016 outlooks already incorporated the negative trends cited by UnitedHealth, the analyst stated. Mizuho Securities analyst Sheryl Skolnick was more cautious, predicting that the news would "rattle" the health insurance sector. United Health is more "insulated" than its peers from the weakness of the exchanges because its exposure to the market is relatively limited and its business is more diversified than that of its peers, according to Skolnick, who kept a $150 price target and Buy rating on the stock. Meanwhile, Piper Jaffray analyst Sean Wieland says UnitedHealth reducing its exchange exposure should be accretive to shareholder value. The company's participation in exchanges is not essential to its growth strategy, according to Wieland. The issues cited for the guidance cut likely applies to all Managed Care companies, therefore UnitedHealth should outperform peers given its limited exposure to exchanges, contends Wieland, who reiterated an Overweight rating on the stock with a $149 price target. PRICE ACTION: In morning trading, UnitedHealth fell 4% to $112.49, Aetna declined 4.4% to $102.18, Humana gave back 2.4% to $167, Anthem fell 6.6% to $128.20, and Cigna slid 3.8% to $130.
10:23 EDTAETUnitedHealth selloff on guidance presents buying opportunity, says Leerink
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08:03 EDTYHOOStarboard urges Yahoo to sell core businesses
In a letter delivered to Yahoo's Chairman, CEO And board, Starboard stresses that a proposed spin-off of Aabaco Holdings is not Yahoo's best alternative. It adds that a sales of Yahoo's core business would be the best risk-adjusted outcome for shareholders. In the letter, Starboard stated, "We have grown increasingly frustrated with your unwillingness to accept our help and your dismissive approach to our serious concerns about the current situation at Yahoo! Inc. ("Yahoo"). As you, the management team, and your advisors requested from us over a year ago, we have attempted to work with you privately and agreed not to pursue the nomination and election of directors at last year's annual meeting. Despite our numerous conversations and meetings, and notwithstanding your willingness to provide us an audience, you have been reluctant to respond or adapt to the realities of the current environment. The current situation that Yahoo faces is so important that we now feel it is necessary to communicate with management and the Board of Directors in a manner such that our message is not only as explicit as possible for you, but also for our fellow Yahoo shareholders. The proposed spin-off of Aabaco Holdings is not Yahoo's best alternative. Instead, you should be exploring a sale of Yahoo's core Search and Display advertising businesses and leave Yahoo's ownership stakes in Alibaba Group and Yahoo Japan in the existing corporate entity."
07:46 EDTAETOptions expected to be active; UNH AET ANTM CI WCG HUM HNT CNC
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07:43 EDTINTCHouse Energy & Commerce Committee to hold a hearing
The Commerce, Manufacturing and Trade Subcommittee holds a hearing entitled, "The Disrupter Series: The Fast-Evolving Uses & Economic Impacts of Drones" with Joshua Walden, Senior Vice President and General Manager of the New Technology Group at Intel on November 19 at 10:15 am. Webcast Link
06:00 EDTYHOOStarboard sends letter to Yahoo, urges halt of Alibaba spinoff plan, WSJ reports
Yahoo (YHOO) shareholder Starboard Value sent a letter to the company urging the company to halt the plan to sell its stake in Alibaba (BABA) due to the risk of incurring taxes on the sale, the Wall Street Journal reports. The activist investor instead wants Yahoo to sell its struggling Internet business, the report says. Starboard supported the sale of over $20B in Alibaba shares before the IRS denied Yahoo's request for a private letter ruling on whether the spinoff would be considered tax free. Reference Link
November 18, 2015
13:44 EDTINTCBefore the Move: Watch Intel into tomorrow's analyst day
Chipmaker Intel's (INTC) analyst day tomorrow could yield information on numerous company operations, but Jefferies analyst Mark Lipacis cautions investors that the probability for positive surprises appears low given recent spending outlays. BACKGROUND: Intel, one of the largest semiconductor makers in the world, is scheduled to hold an analyst day on Thursday, November 19. Beyond providing forecasts for its various business segments and remarks on the larger computer market, Intel is expected to provide further clarity on several recent stories, including its memory joint venture with Micron (MU), plans to invest heavily in a Chinese production facility and progression towards chips on the 10 nanometer scale. STRONG OUTLOOK, MILD MEETING: Intel's pending acquisition of Altera (ALTR) and its plans to invest as much as $5.5B in a computer memory facility in Dalian, China leave little room for positive surprises at tomorrow's event in regards to 2016 margins, capital expenditures, or shareholder returns, Jefferies analyst Mark Lipacis said in a recent research note. That said, the analyst views Intel's Chinese facility expansion as part of a "brilliant investment strategy that positions Intel as a partner to China" and "keeps the market open" to its microprocessors, perhaps Intel's more famed business segment. Though the two initiatives are certain to push up near-term debt load, Lipacis takes the longer-term view, reminding investors that Intel has shown consistently strong free cash flow over the past decade, leading him to forecast another $13B in 2016. The year may also bring "a number" of other positives for the company, including more data center wins after the Altera tie-up, potentially renewed sales on a cyclical uptick in PC gaming, and even the possibility of an iPhone chip contract, though Lipacis said none of those points look set to be discussed tomorrow. The analyst kept a Buy rating and $38 price target on the shares while reiterating that Thursday's Intel event may have little in store for those expecting eye-grabbing surprises. PRICE ACTION: Shares of Intel have advanced roughly 0.9% to $32.92 Wednesday afternoon. "Before the Move" is The Fly's recurring series of exclusive stories that identify potentially market moving events, along with analyst predictions, ahead of the news.
10:02 EDTTDCHigh option volume stocks: CIT TDC MAR JNK EIX TIF NBG DSX FCS ARG
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09:33 EDTTDCTeradata resembles a company prepping for a sale, says Longbow
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07:28 EDTYHOOYahoo taxes could amount to more than value of Alibaba stake, says SunTrust
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06:15 EDTYHOOYahoo included in New York's daily fantasy sports investigation, Reuters says
An investigation by the New York attorney general into the daily fantasy sports industry will no include Yahoo, Reuters reports, citing a person familiar with the matter. Yahoo operates its own daily fantasy site and received a subpoena by New York AG Eric Schneiderman, the report says. Reference Link
November 17, 2015
15:40 EDTINTCIntel to host investor meeting
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11:03 EDTINTCTsinghua Chairman says in talks with U.S.-based chipmaker, Reuters reports
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10:00 EDTCNOOn The Fly: Analyst Initiation Summary
Today's noteworthy initiations include: Antero Resources (AR) initiated with a Buy at Goldman... Applied Micro Circuits (AMCC) initiated with a Buy at Drexel Hamilton... Arc Logistics (ARCX) initiated with a Buy at DA Davidson... CNO Financial (CNO) initiated with a Buy at Goldman... Capstone Turbine (CPST) initiated with a Perform at Oppenheimer... Dominion (D) initiated with an Outperform at Scotia Howard Weil... Duke Energy (DUK) initiated with a Sector Perform at Scotia Howard Weil... EQT Corporation (EQT) initiated with a Neutral at Goldman... EverBank (EVER) initiated with a Hold at Sandler O'Neill... Exelon (EXC) initiated with a Sector Perform at Scotia Howard Weil... First Data (FDC) initiated with a Neutral at BTIG... Genworth (GNW) initiated with a Neutral at Goldman... Marinus Pharmaceuticals (MRNS) initiated with a Buy at Jefferies... New Relic (NEWR) initiated with a Buy at Needham... NextEra Energy Partners (NEP) initiated with a Sector Perform at Scotia Howard Weil... NextEra Energy (NEE) initiated with an Outperform at Scotia Howard Weil... PG&E (PCG) initiated with a Neutral at Citi... Reinsurance Group (RGA) initiated with a Sell at Goldman... The Advisory Board (ABCO) initiated with an Overweight at JPMorgan... Torchmark (TMK) initiated with a Neutral at Goldman... Ubisoft Entertainment (UBSFY) initiated with a Buy at Jefferies.
08:50 EDTYHOOCheetah Mobile reports strategic partnership with Yahoo
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07:48 EDTINTCHP Enterprise announces alliance with Intel
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06:40 EDTCNOCNO Financial initiated with a Buy at Goldman
Goldman analyst Michael Kovac initiated CNO Financial with a Buy rating and $23 price target on shares. Kovac sees double digit earnings growth driven by risk reduction, out sized capital deployment, ROE expansion and growth in businesses, and secular tailwinds.
06:27 EDTINTCIntel November volatility elevated into investor meeting
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